Millionaire Tradersstatements, etc. As far as I was concerned, this guy was making
huge money.
Q: Was he doing it for other people as well?
A: No way, strictly for himself. Generally, he would not touch
other people’s money, I suppose in my case he was going to make
the exception to the rule. But then, on second thought, he decided
to teach me his skills instead. Effectively, it was technical analysis
with an emphasis on moving averages. At the beginning, I first
demo traded it. I did very well on the demo, then went live, and
that was when the rude awakening came.
Q: How did you learn from him when he was in the United
States and you were in South Africa?
A: He used to take print screens of charts and put them into
PowerPoint. He would then illustrate the images and write on
top of them and basically give me slides of the graphics. When I
received them, I would replicate what he told me on the demo
account. For example, I would plot a moving average of 5 and a
moving average of 13 to look for a moving average cross. I was such a
novice that I had no idea what this guy was talking about at the time.
Q: I’m sure there was a very steep learning curve. Did he explain
to you what moving averages were or did he just say okay these are
moving averages and I recommend that you use them?
A: He basically advised me on what they were. I would then
figure out for myself how to apply them. If you’re basically looking
at crossovers, then you want the faster line to cross the slower line
from the bottom up, creating a buy opportunity. If it crossed from
the top down, that’s a sell. I actually battled with it in the begin-
ning, but I somehow slowly but surely and through perseverance
managed to get the hang of it.