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INTERVIEW WITH Ruben Cano and Oscar Malagon #2 WINNING TEAM LEADERS
Dec 07, 2020
How would you describe your overall experience of the competition? Did you take it seriously or was it more a bit of fun for you and your team?
The WSDT competition was a very interesting exercise with our community, because it allowed us to work together with them for a common objective.
The competition shows us once again that students must see the entire process, as a trading tutor you don’t lose anything by teaching and demonstrating by example, how you operate in real time, on the contrary, this allows you to create a community of excellent traders, something that we call collective intelligence.
Being a competition, the strategy regarding risk changes. It is easier to work a trading system for 6 days than for 1 year. This also demonstrates that the activity is a business, and the trading systems should be adapted to what is expected of it.
What advice would you give to new traders who have tested the waters of day trading with you in the competition and are preparing to face the challenges of the real world?
Our advice to the traders who are starting out in this business it to treat it as a company, day trading is the most difficult activity within all of the speculation styles, but as we saw together during the competition, it is very important that beyond trading tactics there is a method of working that allows them to get from point A to point B in a systematic and consistent manner.
Another piece of advice that we always give is “don’t carry out lots of different actions”, it’s better to stick to one individual event. In other words, it’s easier to be consistent if you trade every day, the same time, the same tactics, and the same action.
Did you change your business strategy to adapt to the competition? Did you take more risks, or play safer than you usually do?
This was our game strategy throughout the tournament, explain to the community what we were going to do in every hour of the session, but also teach them where they should be looking for these events.
Another thing that helped us a lot was to have an algorithm that told our traders when to continue trading and when they should stop, this I believe was decisive to keeping us in the competition.
Our trading room has at least 5 traders in attendance who do live trading, dictate live entries, and manage positions in real time. This was a very powerful tool for our team members as it meant that they aren’t going to war alone, they have company and advice in real time, from people who have already travelled the path that they want to walk.
Thus, in our trading room our team’s participants got quality investment ideas,
position management to minimize losses when something didn’t work, maximize gains when something worked, and not least, indicate when to stop trading and when to continue.