An Interview with a Successful Forex Trader

31.07.2014

The ideal investor – who is he? The interview with a successful trader.

Today, we interview Alexander Toporishchev, the man responsible for the most profitable Forex strategy on Aforex.

Good day Alexander! We are thrilled that you agreed to be interviewed and we will try to keep this short. Please start off with a little background about yourself including how much experience you have on the market and what got you in to the trade.

Hi, thanks. I am 37 year old. I was born in the city of Stavropol. I had to move a lot inside Russia over the years as my father was from the military. I have a background in Economics, Finance and Business which makes Forex trading an ideal career based on my major. I have typically been involved in my own business and have not worked otherwise. I was introduced to the world of Forex less than five years ago. I found Forex to be profitable from the get go and allowed me to make some lifestyle changes that I always wanted to make. I moved to a city that I am more comfortable with and opened up an office to carry out my trading more effectively.

AForex introduced PAMM only recently. How did your trading change with the introduction of this service?

I was able to introduce my very own strategy which has climbed to the top spot as the most profitable after four years of experience. This has been the biggest achievement for me thus far.

Please give us a few hints about how your system works.

My system is rather simple. I look into resistance and support to keep my trade moving; things like pin bars, Fibonacci ruler, multi-currency and using averages. Of course there are other factors that come in to play, but these play an important role. Another important aspect is not to be too greedy. Quite often, traders and managers lose their way because of greed. You need to be patient and treat it like an actual job or business. Also, always follow proper money and risk management.

Should there be caps on expenditure and if so how much?

I think its important for the manager and investor to have the same caps which is why I am a fan of Aforex. I wouldn’t have a cap on the maximum but I would suggest a minimum to invest with would be $300 as it gives you enough to gain a good grasp on the market without risking too much money.

What changes would you like to see to our existing PAMM service at Aforex?

One tip I can provide is to provide more information on strategies available by paying a closer look and seeing how they work and providing this information on the public domain so that investors can make the right pick accordingly based on their goals and personality. Like I said before I don’t think there should be a cap on the maximum so I think you should consider removing the maximum limit on investing. People should be willing to invest how much they please. By having more information, investors can make the right choice and not waste time by experimenting with strategies that won’t be suitable for them.

Another issue I find is that many investors don’t read the requirements. I am very clear that equity drawdown can reach 60% but investors set limits which are lower than these percentages which can affect the trade. I am left with large volumes and unable to correct in time which can make life difficult.

Who would be the ideal investor?

It would be someone who is very particular about his investment. Keeps a close eye on the requirements of the manager and pays a lot of attention to risks. He should personally communicate with the manager rather than have someone on behalf of him do this to prevent any confusions and ensure that both parties are happy prior to starting the trade.

What rules should an investor follow when picking the manager?

Most investors make the mistake of choosing the manager based on statistics and numbers. They should look to choose the manager based on their style of trading and their goals. If not, it would soon lead to disagreements and both parties will be unhappy. Investors see high profit potential and put in their money but pay no attention to the risk indicators. This is why it is important to see both sides of the story, the profitability and the risk. Drawdown is also a very important number to look at. Also, there has to be a minimum period of 3 months to access a strategy.

Most investors think you simply invest and make profit without paying attention to strategies. What do you think of this?

That is very true and I think it is important to follow a strategy of course. More importantly, instead of sticking to a single strategy, I think it would be a good idea to invest in multiple strategies as the old saying goes “don’t put all your eggs in one basket”.

Where do you intend on moving forward from here?

I would like to get more involved with trading. Russia is brimming when it comes to Forex and there is a lot more money to be made in the industry as it is growing in my country. The country is yet to officially recognize the market and when it does, there will be plenty more money flowing in from the skeptics who didn’t trust the market before. I am also looking to keep in touch with my academics by teaching at the university I studied in focusing on the field of economics, finance and business. I am also looking to invest in some new tools to fine tune my trading.

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