TTU152: Where is the Open? ft. Toby Crabel

TTU152: Where is the Open? ft. Toby Crabel

From Top Traders Unplugged by Niels Kaastrup-Larsen

April 15, 2026 · 1h 5m

About this episode

Toby Crabel discusses the evolving nature of markets and trading strategies in this episode.

Markets are not stable systems. They evolve, adapt, and quietly erode the edges traders rely on. In this episode, Toby Crabel reflects on decades of experience navigating that reality, from the early days of Opening Range Breakout strategies to today’s fragmented and highly competitive landscape. He explains why momentum behaves differently now, how liquidity has shifted across sessions, and why execution has become a defining edge. The conversation also explores the limits of AI, the persistence of technical principles, and the importance of adapting without overfitting. At its core, this is a discussion about humility, uncertainty, and staying relevant as markets change. ----- 50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE ----- Follow Niels on Twitter , LinkedIn , YouTube or via the TTU website . IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written  here . And you can get a free copy of my latest book “ Ten Reasons to Add Trend Following to Your Portfolio ” here . Learn more about the Trend Barometer here . Send your questions to&nbsp…

People in this episode

Host: Niels Kaastrup-Larsen

Guest: Toby Crabel

Topics covered

  • market evolution
  • trading strategies
  • momentum
  • liquidity
  • AI in trading
  • technical analysis
  • adaptation

Keywords

  • trading
  • momentum
  • liquidity
  • AI
  • technical principles
  • adaptation
  • execution

Mentioned in this episode

Organizations: Crabel Capital Management, DUNN Capital

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