Interviewing the specialist of Automated Trading Systems
Introduction
My name is Erika Harvel, I’m a trader and an educator.
I’ve been trading for over eleven years and I specialize in automated trading systems.
I’ve always dreamt of independence, educating people and being rewarded based on my skills.
Well, being a trader and an educator I have found all this.
In trading you need to be good to make money.
There might be luck involved sometimes, but going for the long haul requires developing and maintaining the proper skills.
My path to Successful Trading
I know many traders, and all of those who are successful have some aspects in common.
The most important aspect they focus on is having a trading plan.
Trading is a business and it has to be planned considering all the potential outcomes of our actions.
Since this is the most important part of trading in my opinion, I chose to become a system trader as I saw an edge there compared with discretionary trading when building a powerful plan.
With trading systems, numbers are put together and potential scenarios can be estimated so that a chosen direction can be strictly monitored.
I trade plenty of strategies and all of this mix is checked day after day to be sure the behavior is not out of borders.
I studied a lot about money management and position sizing.
I even wrote the first book in Italian language about this matter.
My models are all built considering the power of leverage, but also the danger of excessive exposure.
Even a day with a monster gain should be an alarm because it might indicate there was too large a position in the market.
Psychology also is of utmost importance mainly in following the plan without exceptions.
Sometimes emotions can drive strange decisions, they may even be right on some occasions, but in the end the sum of discretionary maneuvers used into system trading is a losing game.
I’m also a runner. I love to run and I love to plan my training on achieving goals.
When I prepared for the Berlin Marathon back in 2010, I followed a plan made of kilometers, proper rest and proper food.
There are many similarities between running and trading.
In both cases I see it is as a must to stick to a plan, and if the plan was properly made then success is a normal result.
Forex Makes Sense
I trade all markets, but lately I have focused more on futures and even more on Forex.
The liquidity of the FX markets together with their enormous scalability is a winning tool in any trader’s box.
When considering position sizing it becomes incredibly important to have the chance as often as possible to modify the size of trades.
In FX this possibility, when using mini or micro lots, is at its top.
Considering for example the scalability of the Euro FX future.
You can pass from 1 to 2 contracts in futures, while doing the equivalent on EURUSD from 125.000 to 250.000 has an extremely high number of intermediate steps, and believe me it does make a difference!
Forex Brokers and Erika Harvel
I work with different partners on various projects and so far I’ve always been lucky in being approached by serious companies.
The broker is not an exception, and compared to the others, I can also say that I’ve found an incredible level of enthusiasm and commitment in their “Multitrader” project.
I’m also thrilled about the opportunity of putting my skills at their disposal.
As I consider this, as all cooperation opportunities, a win-win game.
The Trader Report – Overview of strategies from a different perspective
This first Trader Report gives you an overview of strategies from a different perspective.
Each strategy chosen for this report has its own story and approach to trading, and each of the traders behind these MultiTrader strategies have given us an opportunity to look into their “laboratory”.
Included in this report are 4 different traders.
First we have World Trading Champion Erika Harvel – the only person on the planet to win this award 3 times in a row.
Next, Taiji strategy has been profitable for 4 years in a row with only small drawdown.
If you want to know if there is any similarity between working in a museum and a trading job, you should read further.
The other two strategies – FXHawkTrade and ProTrendFX have their own distinct backgrounds.
While the former focuses on having the right mindset, the ProTrendFX creator uses a combination of management modules to achieve results.
All of these traders’ strategies are available in the portal or will be listed there soon.
For a real performance overview of MultiTrader you can look there.
Changing Pareto’s Principle by Investment Innovation
If one would like to profit in the financial markets there are generally only three options.
The first is the quite difficult task of learning to trade well enough so you can become successful.
Second, is to invest in a third-party money manager and have them trade for you.
Finally, you could use an environment where there is a selection of trading strategies and then choose one or several that best suits your investment style.
We understand that people are looking for a different approach to investing.
That’s also why our main goal is to help people profit and make investing in the financial markets easier.
So for us the only question is: “what’s the best approach to help clients profit?”.
In the current market environment, there are thousands of brokers that offer trading products.
You can download a platform and start trading in 5 minutes.
It’s really easy to start – but does this broker care if you make a profit? This is where our business approach starts to differ in comparison to competitors.
We believe that only when the client is long-term profitable, can they truly build a serious relationship with the broker.
This is how we want to challenge the financial markets’ status quo.
For us, the status quo is represented by the simple fact of what is obvious in the markets today.
More than 80 % of clients are losing and their behavior is affected by fear and greed, and this is where Pareto’s Principle (80/20 rule) comes into effect.
Since most of them cannot spend months or even years improving themselves, they fail repeatedly.
Of course – market maker models are based on this fact.
To improve the ratio of profitable clients beyond 20%, we decided to go further.
We created an environment where traders offer investors the opportunity to connect to their strategies, and where investors offer traders the opportunity to profit with their capital.
It’s called MultiTrader.
You probably know there are many forex social networks.
One of these social networks is even available from us, but this is not social trading – this is MultiTrading.
And what makes the strategies in Multitrader different from those in social trading? It’s the strong relationship that exists among Forex brokers, the Multitrader team and the traders themselves.
A real relationship built on trust
Erika Harvel is the only person on the planet who has won the prestigious trading championships three times in a row with automated trading, and he won again in Q4 of 2012.
He is a respected trader who has decided to cooperate with us.
The founders of our company and MultiTrader met with Erika about a year ago and together they established a strong relationship built on trust.
This cooperation developed further and in November of 2012, our team and Erika attended the world trading conference in Dubai called the “MENA 10th Forex, Managed Funds & Investment Opportunities”.
Afterwards in the last months of 2012, Erika optimized his strategies especially for MultiTrader and now they are available for investors.
There are other traders listed in this report, each with their own story that I hope you will enjoy.
But all the stories have one important aspect in common – trust.
It is not a service – it’s a new market
Sometimes people ask me if we make any intervention when strategies occasionally have unsatisfactory results.
My answer is always an unequivocal no.
We do not intervene with strategies in any way because we respect the relationship between the client and the strategy provider.
Moreover, there is a set of rules and limits which are mutually agreed on before these strategies are offered.
However, we monitor the strategy’s trades to be certain that they remain within these limits.
No action is taken when traders follow the guidelines, only when they fail to do so.
That’s how we really care about the customer.
I think a good example of this is CapitalGuard.
This is a system that continuously checks the equity on a strategy’s account and compares that to its previous highest balance achieved.
For example, you choose a strategy with the CapitalGuard set to -35%.
This means that when the equity is 35% lower than the strategies high-water mark, CapitalGuard will automatically close all investor account positions and prevent them from accepting any new trades.
Simply stated, it defines the real loss that can occur on a strategy.
CapitalGuard is a protection level.
It’s the worst case scenario because every strategy has its own maximum loss which is lower than CapitalGuard.
This protection ensures that clients know what their risk is with each strategy.
It is a much better feeling if you know that CapitalGaurd is helping to protect your money.
Another key point is transparency.
Transparency with us means that you always have access to an overview of any strategy’s performance and your investment results.
Client portal does all of this and more.
It gives investors the possibility to take control of their investments and see them online at their convenience.
We view MultiTrader as a market where there is a predefined set of rules that each strategy must follow for investors, and from our perspective, this is the solution that can help clients profit in the financial markets.
For investors by investors
All the ideas behind these solutions are created by people who are investors themselves and understand the investor’s needs.
Investing isn’t like putting your savings in a bank.
Thus, for every investor it is important to understand the risk vs. reward for each strategy.
This report focuses on highlighting strategies with the best risk vs. reward ratios.
It is important to ask yourself when choosing a strategy “what is my target investment goal and what are my risk aversions?”.
MultiTrader is not for investors who are looking for quick guaranteed investment opportunities.
It is for the investor who is looking for profits above 20% yearly with acceptable risks.
What’s next?
In 2013, our clients can expect more innovative investment solutions.
The solutions that are being prepared by we will take investing to a whole new level.
This is how we will change “Pareto’s Principle” in the financial markets.
Breakfast with Broadcast that gives essential Forex market news
While you prepare a cup of tea in the morning, our team is filtering out the most important news and data from the markets.
The U.S. session, Asian session, European open, everything that has an impact is captured for you right here.
Is there a Eurogroup summit this weekend? Is it earnings season? What’s happening in Spanish parliament? Is there a risk of crossing the 7% magic line on Italian bonds? If it’s major market news, you won’t miss it!
We know that every profitable trade made by self-traders is dependent on how they receive their news every day.
It can be a real artistry to get oriented into the flow of interpreting thousands of headlines across the Internet.
Additionally, it can be difficult making a thorough analysis of what’s happening at the moment while trying to distinguish between what’s new and important and what the market may already be reflecting.
That’s why the producers and analysts have streamlined the broadcast content to deliver to you the most relevant and essential Forex market news that impacts your trading decisions.
Receive your technical and fundamental analysis concisely, and become oriented with the markets quicker than ever before.
As a bonus to your news, every broadcast will give a brief explanation of some trading examples from the best of the MultiTrader strategies.
Use our broadcast daily for your trading, learning about our strategies or just keeping informed about what makes the business world go around.
IronFX
Comment by Diletta
March 26, 2024
Awesome bonuses, good leverage. A few hiccups, but support rocks!