Ep. 9 Of Transparent Traders: The Future Algorithmic Millionaire

0:00 today we welcome s I'm a trend base Trader who sit in 16th Place on K 4's alltime leaderboard with 834 th000 and verified profits and this is where the algorithmic approach is so nice people can't use like chat GPT to just make up a strategy and it just worked where humans are really good against the AI right now is we welcome back everybody today we welcome s who sits in 16th Place on K 4's alltime leaderboard with eight

0:31 34,000 in verified profits that million I know want aeny but is in sight we're going to jump in it was trading strategies industry transparency and there top tips for new Traders but first I just want to remind people you can get Kino pro and pro plus pre May first month simply log in click upgrade and you get access the advanced reports and analytics for first sale thank you so much for coming on you RIS up the stares

0:55 you're one of the future Hot Prospects and and you're working for how was it good yes thank you for having me though it's a pleasure to be here appreciate it I wanted I mean first this wasn't on the script but I very very quickly want to ask you how are you balancing in and all of this money because you're up B 134,000 I think a lot of it's come in the last 12 months how are you balancing

1:21 work and in this commitment to training o yeah it's a big one it definitely comes with a lot of struggles to give you just a little bit of the insight into my day-to-day so I work as a sci reliability engineer I work for Splunk we just thought got acquired by Cisco I my shift is Sunday through Wednesday I work swing shifts so like an evening

1:52 schedule I I trade of course first the market session opens up at you know 8:30 and you know trade will close at three then I have about an hour gap in there and if I have like you know any athletic activities I want to do I like to run I try to get that in during that time come back 4M shift starts you know focus on the job till my shift ends at 2 am I'm also on call overnight so

2:22 sometimes I might get paged gotta get on handle that and then you know if I gota handle a page I do it and then again Market opens at 8 and I'm right back at it so I don't get much sleep I definitely sleep a lot on my Saturdays but you know my dayshift ends or my day shift schedule yeah for the week it ends on Wednesday so I do get some rest Thursdays and Fridays but on the

2:51 evenings of Thursdays and Fridays if I have I mean that's usually when I you know organize most of my appointments or plans that I have with friends and whatnot but if I don't have any time filled then if it's not Leisure it's looking at charts and I am into algorithmic trading so I do a lot of coding and you know try a lot of strategies out and back test and I yeah all the ideas I'm developing in

3:19 things during the market session all of it tries I I try to fit all of it during those Thursdays Fridays and Saturdays when is like my only day off is Saturday so yeah I'm I I definitely am added a lot but you know without a wife and kids I have a lot of free time that I can fill but that might change soon and then you know I'm gonna probably appreciate some of the time I've put

3:42 into here as it you know helps me and my career going forward gotta make the money while you can no make make the money while you can take it while it's say yeah you're you're a journey see I've seen a few people's Journeys like this actually where you went down 20K when he started learning then you were up over 100k and then he pretty much nearly lost it all again bringing yourself back down at 15K which is exactly the situation

4:10 where I'm in now for me as well I did $600 and over 100,000 and I lost about 50k I didn't lose as much as you but I lost about 50k and I just paused during the B maret and thought I don't know I don't know if this is for me so whatever I see a story like yours where he went from that 15K up 800k on a million I just saying am I one step away I'm one

4:32 step away from at all but like what what was that experience like how did you have that resilience how did it feel to lose like pay up 100K then lose it like Po us through US sure so the first thing I will say is don't trade going through a breakup yeah you know I I'm going to quickly just segue into one thing you know when you speak with a lot of Traders and you and they and you try to like

5:03 organize like what's the most important thing for a Trader you know you'll hear some Traders say psychology or some will say Edge those are two are the biggest ones and you know people will like die on a hill one of the other and I mean for me I I I think all of us could probably say it is a mix of both but it's definitely dependent on who you are as a person I think if you have and you've

5:28 built a lot of mental result The Edge becomes more important because you innately have a lot of resilience against some of those things when you get down you bounce very quickly but you know if or it could be if it's more easier for you to find the edge it doesn't become as much of an importance because you just have a knack for finding out these patterns but then of course a psychology will suer more you know commence like in proportionate to

5:55 that because that's just where you could use more assistance and like for for me the psychology department is where I I I definitely could use like more assistance versus the fighting The Edge aspect and so you know that experience like when you were when you were just talking about it yeah it yeah I started from like it was like 26 or 2.6 sorry it grew a little bit and then I stopped and then I think that's when I

6:23 moved my money into tradovate because I finally had something I feel like was working and I wanted to use the leverages of a futures broker to try to accelerate those gains and yeah and that's when I was you know pioneering my new 10-minute strategy grew to yeah I think at the peak yeah altogether it was like 124 something like that and then yeah within like and that was over a period of two months at like a thousand

6:48 trades so I was feeling really good about myself you know seeing the consistency and then the markets were also not in the best state for me to trade I'm a trend Trader and of course when the market goes through consolidation or chop I innately I just it's just Market fundamentals that's not going to be an environment for me to make money but when you mix that with you know really big you know personal matters like me going through a breakup

7:16 and having some additional things in my life at the time it can really really get to you mentally and so you know for me after that experience the one thing I took away from it was you know I I need to really understand myself better you know I mean not just from the trading but also from like having coming out of that last relationship that I was in like there was a lot of rediscovery for me

7:41 there and like during that time I was like kind of in the market but not really I was really taking my space and then right after that was when I was like all right I'm going to transfer 150k I'm going to put into the market the markets look like they're moving I'm going to leverage up even more because I have confidence that this is all going to work and I'm coming back with like the most free like mental state I've had

8:12 in a while you know bouncing back from the breakup and and you know having all the self-discovery and within like I think it was two to three weeks I grew that five 150k into about 411k just you know doing my strategy trading es Futures and just being leveraged but being you know completely disciplined to the strategy and then I think September the 1st was the last trade I had made during that cycle and I was like I don't know if the markets are

8:39 going to move as much as I would like and quite frankly I think I'm done so I think I've made more of my money back and so I just transferred all of it out of my account and actually took a little bit more time away from the markets and started looking at transforming what I had developed for my strategy which was you know algorithmic and everything on the charts but there was no automation done so it just told me exactly what to

9:02 do and I could sort of fill in the blanks with my intuition where I didn't think there was a right trade or not but now I was trying to go from there and again use this you know Rebirth of myself and this new drive that I had to then build the full automation to where I wouldn't even need to do a trade you know it just does everything automatically and that's where I'm at right now so beautiful so what do you

9:28 say that PR was one of the in that ever happened or would you know I mean it definitely was in some ways yes there was a lot of lessons that I've learned and it was it yeah it completely gave me what I needed the pain was what I needed the suffering was what I needed and the rawness you know to look into myself acknowledge my faults see where I was wrong both with my relationship and the market and where

9:56 I was wrong to myself and you know use that energy to just motivate yourself to do better for you and for those around you and that psychology will just it'll carry you in a lot of places in life you know I swear by that H 100% agree because when I first got into trading it was because of a breakup I was going through a breakup and I needed to channel the energy from a negative to a

10:23 positive and I remember when I was at the PE I mean look tra transform me like because I'm doing things like this making money from other aspects of the market and I've made money from the market so in various ways TRS transform me like to the better but I did the exact same thing as you and turn the negative into the positive and and also we're talking about losing jobs and redundancies and highs and stuff like

10:45 that also when I I lost a job I was terrified full of fear but it's started my own company and it's doing well now but I would have never had the confidence to do it so it's that yeah it's that horrible uncomfortable situation that drives you to do what your something's dancing to do yeah and we share that story a little bit in some ways which is interesting but you need you need it you need adversity you need it like otherwise

11:15 we're just Bley humans completely agree I mean you see some of the best athletes you know Olympians and whatnot all high Achievers in life CEOs most of them went through some form of adversity really yeah you know you can you can let it destroy you or you can let it build your character and there's obviously only one right choice there's obviously only one right choice yes on that on that note we'll

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12:44 more okay we are back again just on that on that on that nail bite and bomb but yeah 100% agree I think we you have to have this and no one wants to be born through a bad time that keeps you awake at night or like a head reason but it shapes you it shapes you operates you right does it does it does so where where did it all start for you how the hell did you get into Alor

13:11 trading is it like it's just it's one of the niches it's not the normal normally people are going in buy a Tim Sykes how how you do an algorithmic Trad yeah so so I will be mentioning when it comes to mentorship two mentors so one is going to be just like the General mentor and the second's going to be my mentor friend my mentor friend I think like I think on he's on like X and Instagram I think he goes by the name

13:41 of Spear of the kid he's a Goldman Trader he's actually been mentioned in I I believe at least one definitely books on trading from other very very seasoned traders who have who have mentioned him in his and his success and approach to the markets and I mean he's just a guy that you know I knew since I was a kid and who been in trade into trading and we've always like we he's the type of friend

14:11 that it's like you know you don't talk to him for like three or four years and then like you know like he'll hit me up be like hey man you want to play this video game and I'm be like yeah let's let's let's play it you know like nothing ever changed right and and so I originally came into the markets like a lot of people around 2020 I was still working my job at a previous company doing well there but you know

14:38 and I stayed away from the markets mainly because you know my father was like the the fear-monger of the markets like it's gambling you got to stay away I mean now the guy's got millions in it so I mean how how perspectives change but you know at the time though he was very fearful of it I I understand why but yeah I just see you know I look at the markets I keep hearing about it and I just see this huge you know

15:05 decline in it and so I'm like well this is probably a good time to invest because I mean one if the world's over currency's got to be useless anyways and two bu might as well buy this big dip right so that's when I had talked to my mentor friend and he was like oh yeah he was like you can open up a bro like an account with a brokerage and then he got me into some Vanguard funds

15:29 getting me on a very safe approach mix of of index funds and Technology funds and then I made like I or I put like 10K on American I didn't know what I was doing but I was like this stock looks really low and in a year it should go up right and then news came out in June like a month a month and a half after I put that money in that they were increasing their Fleet by

15:56 double and overnight American doubl in stock price so I immediately sold the open and I'm like wow this Market thing is easy and fun you know and let's just say that that success did not continue you know I wound up pretty much giving all of it back and maybe a little bit more I mean by the end of the year I was up considerably but into 2021 is when I started getting into options I did get into the GameStop

16:22 frenzy made 50k in a day off of options which was like the second day I ever traded options and I was like wow this options thing is really easy it's not good being very successful very early in the markets but you have no idea what you're getting into it reads a lot of false expectations but I think that once again like mixing some of those things you know mixing like you know when I was going through my breakup

16:48 and the losses I had as well during that time again those aspects of adversity definitely I mean they can either break you I could walk away and say maybe this isn't for me maybe I should be doing something else or I can say you know what I still love this and I'm going to just learn from these mistakes and I'm going to do better you know and so you know I tried getting into Futures now going into 2022 I Tred to get into

17:12 Futures and options was difficult but Futures killed me I mean the first time I got into it I made some money and then first week I was down like 11k and I was like goodness me and I tried it again and then I tried it a third time and eventually I was like no I can't do it I can't do Futures ironically it's the only thing I trade now there might be a trend here which is whatever I find

17:35 the most challenging tends to be what I gravitate towards to to overcome it you know and maybe that's maybe that's where my drive is is the greater the challenge the greater I have this need to overcome that you know just the the satisfaction and the and the and the pleasure of of of the journey really of getting there and so you know with Futures I started to get into it one last time and I was telling myself that because I really

18:06 felt that I just had an idea that would work better on Futures instead of options and I approached it and I was like you know what if I'm going to be doing this I want to pull the stops like I wantan to like if I'm going to be using trading view I want to learn how to code and pinescript and have everything for my strategy mapped out to a te you know my mentor friend says this

18:31 he says you know if you're going to have a strategy you need to be able to essentially write down every way that it works because if you can't write it all down your strategy is incomplete and if it's incomplete it's imperfect and if it's imperfect when you lose that edge it's going to be difficult to find how to get that edge back because if you don't know the intricacies around it and you have some blank spaces you don't

18:55 know if those blank spaces are what's dragging you down or holding you up more you just you just don't have a clue but the more you know you understand your approach the better you're able to deal with those frequencies and so that's where I started the whole coding approach but then as we continued forward from the coding approach I begin to be like and not just use it to help me with you know indicators and potential entries I just went even

19:22 further with that I was like you know what I want to really get some ass aspects of confirmation looking at historical data does what I have work I need more confidence and the best way to get that is to use that historical data and so I just put more time into it and then eventually I got it just again it only needed to be connected to an API to be able to trade itself and that's exactly you know where

19:50 I eventually got it to and it took a lot of time and effort but yeah they got there how do you get into that though like how do you think all right I'm a new trade I don't know anything about the markets and I know a bit of codon so I'm going to look at all of this historical data and I'm going to figure out a strategy like what's the in between part of that for for new Traders

20:09 like how how do how do you figure that out sure so the first thing is for me at least I had to I had to have good confidence that I had an idea that could work so I was still trade it manually I still did everything manually I was doing SPX zero DTE at the time one of my standard strategies was I wouldn't gamble the open but I would wait for the first 10 20 minutes before

20:38 I had a good confidence on Direction again I continue to be a trend-based Trader even though that's not how I started I started more as like a chop and scalp Trader but I transformed into this had to rewind my brain a bit and when I would enter my Zer DTE you know I'd have my stop at around depending usually about 25% depending on the Range and whatnot but you know once it would move a certain direction in the like not in the money

21:06 but with a high amount of of gains we're talking maybe 50% I would usually sell against my position and start taking in premium so that I could secure aspects of the trade so if it went against me I'm still all right if it went for me my gains won't be as much but there's still gains more security there and you know and I but I was what I was the real like the reality of situation was I wanted to get away from

21:31 the debt side of options so I could have gone into selling but I felt like with Futures and The Leverage that you had there was just a little bit more Simplicity when it comes to Theta you know even though as a seller it would work in my favor Futures just seemed like it would be more clearcut when it came to a systematic approach because you could eliminate the Greeks and you could focus a lot more on just the

21:53 simplicities of price action and so and so like I mean the way that my Approach was was like if you were to open up your chart and just put in dxy plus VX plus tnx plus TLT what happens is you bring up a chart that consolidates you know the dollar yield index the volatility index of the S&P the 10year bonds 20-year bonds and Treasury and it gives you a decent idea as to where you sort of predict how the

22:24 Market's going to go and you can use your EMAs I tra on the 10-minute I use you know 57 for my Crossovers and then I use my 21 EMA to basically be like I go long above the 21 I go short below the 21 but the Crossovers also must meet and so as I was taking a more systematic approach as I was approaching my strategy with more concrete rules and details it helped me realize this can

22:52 now be put into a system and where there are gaps and blanks that I'm not understanding with my strategy by coding this it will force me to fill those gaps by coding this it'll force me to start you know creating a fully closed strategy where there is no room for interpretation it either is or it isn't it's either Green Day or it's a red day but either way you know what it's going to be and you know why because the rules

23:19 are there and from that you can then make adjustments but yeah in order to get to the spot to be able to code it required thinking about how you're going to take what you apply to the markets every day again write your rules down make sure you stick by your rules add to your rules and try to make your strategy as as complete as you can to where the idea of needing to fill a a gap in where

23:49 you're looking to maybe enter or exit the market with intuition you can even get rid of that you know because intuition serves us very well I mean it's the collection of patterns and data we that we've gathered over time but I mean I would rather trust data to my gut you know I would rather trust yeah the statistics and probability of the market would drive it so why not use it to your advantage most people that I've spoke to

24:15 in trading most of the successful people will all trade basically on data they might have a very small window of intuition for the entry or the exit within a certain parameter but most are trading completely on Plat based data or they're trading on intuition based on memory data within the memory like thousands and thousands 10 years of have seen thousands of charts and they just know the patterns but even that way it's based on data whether it's in the mind

24:45 or not I just want to check with you I mean really you've took a lot of you've took a lot of the pressure off you if you if you programed the ENT and access through an algorithm but when you were going through the difficult time and your and you losing money because you didn't quite have that discipline there how did you get the discipline back and what you do now to maintain the discipline sure so I mean I will tell

25:09 you two things I still think of myself as a novice because I still haven't been training for that long and two I am still working on the discipline I still have some losses that come in here and there I mean because even though like you said a lot of that pressure gets taken off of me because of the fact that it's all algorithmic I also Place unnecessary pressure on me because it's like now that I've gotten to this point I want

25:35 more I want to achieve more I want to you know I'm developing two alternative strategies right now like a mean reversion based strategy and a chop based strategy as well as I'm working with another Trader right now shout out to him if if he sees it where we're looking at like some principles of reversion towards my pricing within Market hours based on a certain subset of time and so like that's where I'm trying to do more expand do more get

26:06 more strategies because that's just how I'm going I'm accelerating in that direction and to rewind back and answer about the discipline side really it came from me just having a greater understanding of myself not even the market not even my strategy but me having more understanding of myself me making sure that like I am just you know like if I mean I've already explained my schedule when I am deprived on sleep that's when the most mistakes happen for

26:36 sure when I'm deprived on sleep because I do sometimes trade the aftermarket and my aftermarkets I mean I Shi away from it because that is very intuition-based trading and it has served me quite well but it's obviously also created some losses and the biggest problem when I do that is I can see how if I have a loss in the aftermarket it can impact the way that I perceive the market session because I may have not given myself the

27:06 opportunity you know within that time frame of sleep deprivation and being up all night to give myself the mental Reet that I need and a lot of times when I'm in a okayish spot I just let the algorithm do it let it do its thing which is really what I should be doing anyways but you know again sometimes I want those extra gains because in a lot of cases you know I see where there might be using intuition you

27:31 sort of know when the market and the price action is doing something and I might say no the algorithm's going to be wrong here I know I I can say with almost complete confidence it's going to be wrong and now it sucks when you're wrong but a lot of times it's right when I have that sort of perceived notion but like I said for me I notice for instance when I'm tired I make a lot more mistakes so when I'm

27:57 tired I try to stay away from the markets as much as possible and I just try to always make sure that if I'm not in a good mental spot I just again I have the advantage of all that work and time and energy that I've put into this automated system so I should just let it do its thing you know I and patience is something that I'm starting to come back to I used to be a very patient person I

28:21 think this journey ironically has actually eroded some of that patience because of the pressures I've placed on myself and I'm slowly as time has gone forward I am slowly kind of rewinding that back and saying look look at what we've done look at what we've achieved this far like we don't need to take we've already taken some of those unnecessary risks or even necessary risks in the past it's time to be a little bit more patient you know I've

28:47 got all these other systems that are being built right now I mean be patient work those out and instead of me participating in trading which I don't ever want to stop doing I do have a smaller account that I do much smaller trades on because I like to of course get the screen time get that market exposure you know analyze the price action like I don't want that to ever go away I want to be close to the charts

29:09 but take a step back from the big money you can let it go automated and you know work on these other strategies and when we get them into a good place push them out you know so yeah that makes sense yeah you definitely can't for the the mar do anything than you want that's the biggest when you pause the up way you want but like what what motivated you to be on kall yeah so so first I was going

29:38 through a man how would I say it probably mid 2023 into late 2023 I was approaching you know this I guess I was approaching the market the way that I was things were going you know fairly well H but during that journey I was like I kind of going through a dark period where I haven't really talked to many people about trading and so then I was like let me look at the day trading Reddit I guess there's something

30:07 there right and then I saw how you know a lot of the recommendations for like verified Traders was like connect your account with kinfo and so I was like okay this kinfo thing let me go into there and then you know I went into it connected my account and I'm like oh I actually really like this thing it's got like a nice UI I like the interface it's simple that's what I want I want simple concise clean information

30:28 little pretty nice charts that aren't you know too much of anything just simplistic in the way that I like it and and so yeah and so I literally have just used kinfo just to like kind of the keep the tracks and keep the logs and journal because I know that I should put more effort into my journaling even though I because I I record keep myself I record keep how my algorithm trades I record keep how I trade so I can kind of

30:54 cross reference you know what the algo did what did I do where are my trades better let me try to analyze that a bit but in terms of like some of like the greater pictures like looking at days and all that sort of thing which I can do through my system I've built so many tools within my automated solution it's a lot easier and cleaner of Kido so you know that's where I leverage yeah that's where I leverage it a lot so yeah

31:19 and so obviously I've just continue to use it and then you know after like a month cycle I just go and sync and then just kind of review and bada bing bada boom you know so yeah you don't really probably deal with any furus or Pumpers I was going to ask if the if that help I hinder the market but do you have much because in micro cap stocks and penny stocks which is what a lot of

31:41 the people trade who are onkin for I I generally said you have a favorite fur bumper does that apply to you because you're in a different Market I think yeah I'm at the table with a lot of people with a lot of money L that like to really play with things in a I guess predictable yet unpredictable way right because yeah es is you're going to need you know billions to move that thing and yeah it's it doesn't it

32:11 doesn't necessarily apply I guess I would argue with the price action because I don't think anybody has the money again to move it like they would to be able to a small cap but I think that you know you're still going to have more than enough people out there that are going to try to teach you oh yeah like you can make money you know trading this one indic if you just follow you know my three cool tricks here you know

32:32 just got to pay $49.99 99 you know and then it's like so I mean out with with the teaching pers perspective of it there are oh there's I I I've seen a lot out there they all seem like red flags to me the One Mentor that I did have the truth is I don't even know if he was a profitable Trader like I really don't but he spoke like he had knowledge and it was knowledge that I knew he had and

33:02 I could see how the knowledge helped me with my Approach and you know some of my Approach actually is derived from the teachings that I had from him so I mean he could have been a profitable Trader he could have not been but I was referred to him by another traditor who I thought was a was a fairly seasoned Trader and and trading underneath him I can't say it served me wrong it definitely served me well I mean one

33:28 could argue I would have found success anyways with the time and energy and effort that I was putting into the market and that is probably true but it doesn't hurt when you can get that help from elsewhere like from my mentor and of course my mentor friend who really taught me the value of being a seller for instance when it comes to options so important I think so many people buy when there's no reason to buy you

33:54 know I mean there's a there's a joy to it there's a joy I mean I've had you know 1,500 spxs before it doesn't I mean nothing feels like it you know but how often does that happen you know we're talking about making consistent money and smart money you know be the market maker sell you know so yeah between those two that's where most of my information came from my my mentor friend of course I trust 100% And he

34:21 knows his stuff I mean when he talks you just know he knows his stuff stuff will be on me but yeah with furus and stuff like that I've been fortunate enough to be warned and I don't believe I've had exposure into learning from someone like that I've always also kind of had the awareness to be like when people have tried to be like hey you should come over here I say I really don't need it you know I I've got my trust to sources

34:48 if I really need them and I've always actually approached my journey you know relatively solo so yeah I guess that's that has partially served me well going on a predominantly solo route and then of course where I needed that help going to that one person or the other person I mean what would you say was the best piece of advice that you were given in your trading career so far or when you started oh that's a good question

35:17 so this is what I always say and this was derived off of what a bit of what my mentor friend had told me but I'm saying it in this way because it's just what I tell every Trader it's not about what you make it's about what you lose you know risk management is the name of the game and you can make all the money you want like I turned that one account to 100K you had did

35:45 something you know just as amazing if not more amazing but it doesn't matter if it all goes you know down this raining again you know it doesn't matter at all right I mean I it's like in this this is where the algorithmic approach is so nice is with everything being so systematic there's I can put so much emphasis on the numbers and data in a way that just isn't possible when some of the gaps are intuitive based and you

36:12 know again my my My Philosophy there which of course is a bit of the information that I have gained which is it's not about what you make it's about what you lose algorithmic trading really brings out the most the most advantages in trying to harness that theory I makes sense because if you're not tring an algorithmic style it's it's almost like you can practice that way if if cut

36:43 the losses quickly cut the losses quickly let the winners run it's it's similar thing but then just one bad day not feeling right little bit tired you let one Les one loss goal without the right propage interventions are the max risk are liquidation from a broker I can just wipe you out and that's I mean that I suppose that brings us on to the next question I mean do you have any risk management practices to to

37:07 protect yourself or anything that you'd recommend so outside outside of course of you know my algorithmic Risk Management Systems for myself what I try to do I is and this is where it's actually been very nice outside of just doing the algorithmic trading for the automation is it has I've also taken my lessons from that so when I do my own trades I exercise using atrs I try to work off of atrs for

37:37 profit targets I look at levels of course something that my algorithm does not really do it'll look at levels for profits but not so much for stops May I've been thinking about looking at that approach but for myself and my trades I try to take that algorithmic approach so I work off of the atrs I look at where you levels are and you know because it's not my primary source of trading I try to always make sure that

38:05 size is consistent and I make sure to not overtrade again I try to trade in my own way that is not a part of what my system generates but it's still a profitable way to trade which is why I continue to do it even if maybe I should not I will preface that maybe I should not but it's been working and and I think that just again I'm I I am like a lot of the other

38:31 intuition-based traders in that sense where for this style of trading which is nor with the aftermarkets again I take some of what I can from what I've learned from the algorithmic style so I use atrs I will usually do like a one to two risk reward so my risk will be one and my reward will be two I usually if we're doing aftermarket I'll do something like depending on how I see the price action 2x or 3x of the ATR for

38:56 my for like my my stop I might be getting this wrong or like three to four for my profits it's when I'm in the charts I I know what to do but as you can see it's not a complete system and that's why I also talk crap about myself when I trade like this because it's not a complete system but there's nothing wrong with doing something like that if of course like you were asking me like there's a if you

39:18 have an aspect to help with risk management and for me it was instead of looking at levels as much as I used to I now look at is there a very strong level and if there's if it's a a volume based level or a major psychological level like 5600 5500 or if there isn't what is the ATR and what is our current standard deviations within the aftermarket range because aftermarkets predominantly chop so I try to trade based off of you

39:49 know these probabilities these statistics and and matters you know to try to give myself the best Edge in those moments and like I said it works most of the time and that's the form of how I normally trade now I do trade market sessions as well but yeah experience of course but also deriving what I've built from the algorithmic trading solution and bringing some of those lessons back into how I now trade has really helped with my risk

40:15 management for sure and ATR is is that average to range is that average to range sorry I probably should have said that out loud cool and just just one question to close on I suppose we change it a little bit because I think you probably have inspired a lot of potention potential algorithmic traders to probably follow in your footsteps there'll be a lot of people that would think B wanted to do that but I never quite had the the thought so I mean if

40:44 someone wanted to get involved in your style of trading what's the first few things they should do the first few things they should do is I mean first make sure you've got the time make sure you've got the time I mean you should already have that ready if you're approaching trading in general but make sure you have the time the second thing is I mean I would I would really say one of the best ways to start

41:09 is to I mean again have a strategy the first thing you got to do when it comes to trading you have to have a strategy whether it's algorithmic it's self-driven it's you need to have a strategy so have the framework for your strategy configure don't rush into the coding too quickly because then you might fall down the r hole of not understanding what overfitting is or where you know you're compiling too much based on historical data that you're not

41:35 leaving room for forward testing and then all your trades are going to fail because youve baked so much of previous data in there's a lot of this stuff that can be learned through raw trading and by having an actual strategy it can help actually keep you from some of those problems with being too much of a of a engineer or like a coder that's trying to force patterns into recognition and things like that there's a reason why in

41:59 my opinion I I think this is the reason why people can't use like chat GPT to just make up a strategy and it just work is because even if you even if you train the model where humans are really good against the AI right now is we can discard bad data so quickly and I think that our ability to do that comes from our ability to predict future data something that the AIS that we've developed don't have that of a of a

42:28 concept of doing which is also why when you go into longer time frames and you have longer trading spreads not just AI based trading but algorithmic trading also loses its Effectiveness with greater time frames so you know let's we we we should first leverage our strengths there to find the starting points of the strategy that can actually work and from there I I'm not getting paid or sponsored by anybody but from there you know my my thing is it's

42:57 probably easier to go with a tool like trading View and to use pinescript because it's like a very simplified form of python that makes everything a lot easier and it's not perfect and you know I'm eventually going to move away and put everything into python probably have it in a ECS container and AWS and and have it all run and do its own thing or maybe something different but you know it does offload some of the

43:23 responsibilities that you would have and it does bring some simplicity it gives you a UI it makes it pretty simple and concise that you know a newer Trader that's trying to get into this can leverage that and use it in a way that's very effective for them that was my journey I mean that's literally my journey so I can completely testify to that and say that it's what you know it was it gets kind of bumpy and choppy at

43:48 first but you know I wasn't even using Chad GPT and stuff for code and I see so many there's a a Trader that I work with right now who's getting into to it and he doesn't know much about coding but he has chat GPT help him a lot and I'm like why didn't I think of that when I was learning you know like so we have a lot of tools at our disposal definitely use them yeah no that's fantastic I

44:12 think we'll just close out on that very unique interview very very interesting approach something we've never had in any of the other podcasts so thank you for bringing that value truly truly appreciate I'll be watching you for when you pass that million I'll be there to say congratulations want to jinx anything so Dutch wood but thank you so much for your time and we'll we're just going to close out with the message from the sponsor well guys just wait one

44:36 second I just do want to remind you all the center point Edge offering is available to everyone we've got the link just down below in the description check it out and thanks for watching