chris davison

Episode 112: The Best-Kept Secret in Currency Trading

“Trading two systems doesn’t make you twice as rich.” — Chris Davison

In Episode 112, your host Rob Booker speaks with Chris Davison about the best-kept secret in the entire world of currency trading. Rob starts off with a very short series of True or False questions for Chris. Next they reflect on how terrible 2012 was for discretionary traders. Rob asks Chris how 2012 went for his automated trading systems, and they speculate on how successful Chris’s automated trading will (or won’t) be in 2013. Rob reveals what percentage of his trading capital is run by an automated trading system, and some of this episode is enhanced with Rob’s unusual trading metaphors involving hobbits and other fantastical beings.

Links for this episode:

The FX Test.com

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

E-mail us! Producer@TradersPodcast.com

Episode 45: Enduring Draw-Down and the Infinite Time Horizon on Success

An expert in automated back-testing, Chris Davison joins us from the UK to give more advice on how to lose money and to discuss the two elements of draw-down: namely, how your system copes with draw-down and how you personally deal with draw-down.

Rob and Chris clarify the difference between risking 1% per trade versus risking 2% per trade, and they give advice on how to get to the point where you don’t worry when you’ve hit a losing streak. Rob brings us another “Dumb Things That Rob Does” segment, and Chris reveals some interesting findings that have occurred during the Wallabot Millionaire experiment.

There’s talk about how to give yourself “an infinite time horizon on success,” differentiating between investing and gambling, and Chris names the reason why he thinks most people lose money trading — and more. Please join us!

Chris Davison’s blog, where he monitors the performance of several automated systems: Chasing Pips

Understanding Draw-Down:

If you enjoy this episode, we also recommend The Traders Podcast, Episodes 1 — 3: “The Commandments of Automated Trading,” with guest Chris Davison:

Episode 1: Automated Trading Part 1

Episode 2: Automated Trading Part 2

Episode 3: Automated Trading Part 3

Episode 10: Trading and Roulette

What does trading have in common with one of the most popular games in Las Vegas? Maybe more than some of us would like to admit. Chris Davison claims that he’s most qualified to teach traders how to lose money because, and we quote him, “That’s what I know the most about.” That’s not really true, in our opinion, but he does continue with a list of ways that traders lose money unnecessarily, and how to avoid losing money in these ways. Listen right now to everything he has to say!

Episode 9: 10 Ways to Lose Money Trading

Chris Davison joins Rob with the first five secret tricks that help any trader lose massive amounts of money quickly. Of course no one wants you to lose any money, and that’s the point of the show: to help you avoid the mistakes we’ve made — mistakes that so many people make — when setting out on the road to trading for a living. Here are the first five tricks:

1. Run it on as many pairs as possible, ideally unsupported ones
2. Choose the broker that offers the highest leverage
3. Don’t waste time back-testing or getting to know your EA
4. Small lot sizes are for wimps
5. Choose a scalper with no stop-loss (they only lock in losses)

Dive deeper into the list and join the show. Don’t forget to subscribe by entering your e-mail address in the “subscribe by e-mail” box on the right side of this page.

Episode 3: Automated Trading, Part 3

Rob Booker and Chris Davison put the cap on the final 2 strategies for success in automated trading, with a rousing conversation about the dangers of trading with a robot (or doing anything else with a robot, for that matter). How can you carefully and wisely select a system that is right for you? How much should an automated trading system cost? The answers to these questions, and more, are answered in this episode.

Episode 2: Automated Trading, Part 2

Here Rob Booker and Chris Davison continue their conversation about automated, algorithmic trading. Does it work? In this continuation of their look into the inside world of running automated systems, Chris and Rob share three more of their 8 strategies for success with robotic trading.

Episode 1: Automated Trading, Part 1

Traders are faced with the temptation to automate their trading. Robots, machines, computers from the future — can they help you trade better? Does robotic trading improve your profitability? What are the dangers of handing over your trading to an algorithm? In this episode, Rob Booker and his trading partner, Chris Davison, talk about 8 strategies for successful automated trading and what to watch out for when buying a robotic trading system. Be prepared to laugh and look at automated trading with a skeptic’s point of view.