Millionaire Traderssoftware provider because they gave me the ability to program my
own indicators. I had met a Russian guy on one of the forums. The
two of us started chatting, and he’s the one that actually made me
aware of the platform. I started learning as much as I could about
indicators and robotic or fully automated trading. I was fascinated
by it and actually got to the point where I can now develop my
own indicators and I have my own robot, which, basically, does
the trading for me. I’ve got one robot which is quite successful as
long as it is shut off during key news releases. It requires a little
management, but nonetheless works well if I turn it on and off
because news can kill the robots. You need to keep him out of the
news, which is something that I learned in forward testing. I’ve
actually got it honed down now. I know exactly when to switch him
on and when to switch him off. I started giving classes in South
Africa where I teach people how to trade using the robot. In the
beginning I had about 4 guys and I’ve now probably have about 16
live traders.
Q: Do you think systematic trading is really necessary, because
you were doing pretty well in terms of a 10-pip target on a discre-
tionary basis. Now that you’ve created a robot, what difference has
it made?
A: A huge difference. When I was trading manually, I would set
my target at 10 pips, my stop-loss at 20, and then I would walk
away from my computer. When I would come back, I would on
occasion find that the trade had become a loser, not because I was
wrong about price action, but because I let the price go as high
as 8 or 9 pips in my favor. But then I let it reverse and turn what
could have been potentially an$80 or$90 gain into a$200 loss. So
where the robots come in very, very handy is that I’ve inserted a
function into robot such that it will protect my profit. Effectively,
if I set my pip profit at 10, I could leave in a 3-pip profit protection.
This means that if the price goes up by 7 pips, then retraces to
3 pips, the robot would close the trade. So I have created a virtual
trailing stop that would allow me to walk away with$30 in profit
instead of$200 in losses.