If you apply one system with an index filter to all markets with a big watchlist, you will be turning that system on or off for all markets simultaneously. So, do you want to build country diversification into your portfolio intentionally? If you’re going to build country diversification intentionally, then applying the system to all markets simultaneously won’t force country diversification. You might get all of the signals from France this week and they might be the highest ranked. But if you have different systems on France, German, or Swiss stocks, then you might get a different mix.

There are pros and cons each way, and you need to test each market individually to see whether the system holds up and performs well in each market. Because if you dump it all together into a watchlist and it works, you’ll get complacent. But if you test it on one stock market and subset, you may find that it’s terrible and the rest are good. So I suggest doing a bit of investigation first rather than deciding. Do the investigation and see what the analysis tells you.

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Adrian Reid Founder and CEO
Adrian is a full-time private trader based in Australia and also the Founder and Trading Coach at Enlightened Stock Trading, which focuses on educating and supporting traders on their journey to profitable systems trading. Following his successful adoption of systematic trading which generated him hundreds of thousands of dollars a year using just 30 minutes a day to manage his system trading workflow, Adrian made the easy decision to leave his professional work in the corporate world in 2012. Adrian trades long/short across US, Australian and international stock markets and the cryptocurrency markets. His trading systems are now fully automated and have consistently outperformed international share markets with dramatically reduced risk over the past 20+ years. Adrian focuses on building portfolios of profitable, stable and robust long term trading systems to beat market returns with high risk adjusted returns. Adrian teaches traders from all over the world how to get profitable, confident and consistent by trading systematically and backtesting their own trading systems. He helps profitable traders grow and smooth returns by implementing a portfolio of trading systems to make money from different markets and market conditions.