Interviewing Others
How the Pros Do It!
By Marek W. Stupka | June 19, 2007
Lately, I’ve got the chance to interview one of my friends and pro traders, young sport named Chris Chelsea. Chris is 21 and works for Smart Investments.
I post this short interview here since I know there’s a good potential in it for learning by example. Just listen to what Chris has to say and compare his views on trading to yours.
Marek: Hallo Chris, how’s the investment business these days?
Chris: Hi, long time no see! Well, I have to say I am positively surprised with this company. Hey, they’re new in the business, but they’re doing great! I mean we’re doing great! You see, this is only my second month with Smart, and I’m still getting used to it.
Marek: All right, so where did you work before? You know that I know, but I’m asking so that the audience reading my web log knows too…
Chris: I used to work for Citibank, Offshore Investments. Gigantic bank, big responsibility, but little space to get creative.
Marek: OK, what exactly did you do before? And what do you do now?
Chris: Well, when I was with Citi, I was mostly responsible for filing the stock. A boring job, I must say. But I got the chance to meet with active traders there, doing mosty commodities, but also derivatives and currencies. That’s how I figured out I can trade on my own. See, I got all of the experience I have now by demo trading with Saxo (read Saxo Bank - Marek’s note) in my spare time. Mostly I traded during the nights I couldn’t sleep. I’ve just been learning how to trade. I traded corn, soyabeans, silver, oil. Mostly the commodity markets, in the beginning. Then I got into option trading. That’s a real killer! Anyways, options are great for slow, long trades. I still trade options, now and then, you know…
Marek: Great! How did you get into FOREX trading?
Chris: Yes, it was on that bloody day when we met in Vienna in 06, remember? You’ve spoken so passionately on the benefits of currency trading, that I just couldn’t resist. Before that, I thought FOREX to be sort of a kinky trading, you know. Buying and selling money, what a junk! Anyway, after we met over that beer in Vienna, you made me change my mind. I began to learn how to trade currencies, and I actually got real good at it.
Marek: So, is FOREX what you’re trading now with Smart?
Chris: Yes, it is. Besides other things, you know.
Marek: What are the other things?
Chris: Mostly commodities. And options. Commodity and stock index options.
Marek: All right, then. What brought you to switch, and how’d you do it?
Chris: Well, like I said, I felt bored and undervaluated in Citi. So, after I realized I really can trade, I sent my resume to about 20 investment companies I knew of at the time. Smart were the first to answer. They were opening a new branch and hiring new staff. I went to the interview. I liked them, they liked me, so we just clicked!
Marek: Last question. Could you tell us what trading techniques and strategies do you use when you trade FOREX?
Chris: Well, I wouldn’t call it strategy. I use a checklist. It has no more and no less than 10 points. If I’m able to positively answer all of the ten, I take the trade.
Marek: OK, the absolutely last one. What is in the checklist?
Chris: I’m not going to give you details, since I know that you wouldn’t do it either! (laughing, chucking). But, yeah, the basics, you know: MACD, Stochastics, and RSI. But mostly MACD. I like to check the signs from the MACD histogram. Those are real helpful. And I use the RSI too. Actually, RSI was the first indicator I had used when I got into trading. See, I still have to have it in my charts, although now I don’t refer to it as much as before. It makes the Nr. 5 in my chexklist. What else is in the checklist? Man, you’re breaking my heart! There’s some other technical stuff. And one point checks the fundamentals. But I’m not going to say more even if you called my ex! I swear!
As you can see, Chris has been honest, may be even more than he would wanted to! Anyway, I thought you might find this interview helpful for thinking about what to include in your own “checklist”. A propo, do you have one? With my students, we call it the Trading Plan. If you don’t have a short, comprehensive, written document, exactly capturing the proceedure of entering and exiting your trades, or if you think it is enough just to trade on your “inner impulse”, or “inspiration”, you are welcome to participate in the 1-on-1 Training course. You will start making your own money from trading. You will be taught how to produce solid, consistent profits. You will learn how the pros do it!
Topics: Interviewing Others | No Comments »