Paulo Pinto of DIF Broker is a regular participant in WTI. He was second on the two previous editions of the Portuguese League. This time after almost 9 months into the competition he is losing 65%. We asked him a few questions.
How did you get into the markets?
PP- I first got into the markets in 1980, but did not know what they were. I then met someone that was tremendously effective using technical analysis, called Luis Alvim, and he believed it could be used to great profit for the right person.
So it was a gradual process?
PP- I worked with him as a chartist, and working with him I found he was making good calls in the market and understood when to get in the market and when to get out.
What is your generic trading system now?
PP- I do not have a trading system since technical analysis has become a commodity with the internet, around 2002. I have since had reservations about oscillators and cannot find useful ways to employ them anymore. I prefer to put down various elements together that make a trading methodology changing with the market. Sometimes it's a trend following methodology sometimes a countertrend.
What was the problem that made you lose money this year?
PP- A trade in Tbond futures. I made a bad trading decision in a difficult market situation while the market was going against me.I was more agressive than I should have been at that particular moment.
How did you react taking the loss?
PP- Taking a loss is a non event, it's part of the process. Taking a loss is jusdt part of the process. What I did not like was not having respected my money management process in that particular trade.
Do you think you can recover until the end of this WTI?
PP- With so many political events having an influence in the markets I found myself questioning my actions, which is my indication that things are not quite right. Everything is possible in the markets, with patience a very important trait in trading. let´s hope I will have a good opportunity.
Do you analyze the markets during non market hours?
PP- Always. I do my analysis after the markets are closed so I have my game plan together.
Do you look at the more current topics? What are they for you?
PP- The euro drama is top of the list now, because the way it is played is crucial for the markets. The fact that all 17 countries that use the euro will now have to submit their national budgets to Brussels can certainly delay the debt problem. At least until January.
