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.