In today’s episode, Rob Booker talks with Chris Davison, his partner in building automated trading systems. You’ll hear Rob and Chris discuss the role that automated systems might play in a trader’s discovery of ways to make money. Rob and Chris discuss how to get experience in the markets without spending a great deal of money to get that experience. Their answer: discretionary trading and simultaneously running some automated strategies in the background as a method for learning the process of making the decisions for yourself. And they consider whether this is a prudent approach … or not.
Rob addresses his most common post-seminar question: What do you do now that you’ve attended this live seminar? Rob asks Chris if he makes distinctions among high-frequency trading and long-term trading and medium-term trading when talking about automated systems. They explain how the exchanges and the brokers love scalpers. Rob asks Chris how much draw-down he can withstand. Chris offers his theories about why 95% of traders lose, and his “Wibbley-Wobbly Line Theory.” And, of course, Chris answers the classic question: Is it possible for a retail trader to make money? Join us — you’ll love it!
Links for this episode:
Chris’s blog: ChasingPips.blogspot.com – where he documents the ups and downs of trading automated systems
Follow Rob on Twitter: @RobBooker and see Rob retweet anything that Chris ever says.
Tagged as: automated trading, chasing pips, chris robison, currency trading, discretionary trading, drawdown, episode 78, exchanges, forex, high frequency trading, long term trading, medium term trading, metrotrader, professional trader, retail trader, rob booker, scalpers, the traders podcast, trading career, trading for a living, trading from home, trading method, trading strategies, trading strategy, trading success, wibbley wobbly line theory