Best Trader 2011: +506%

My track record at the Forex Contest 2011, organized by Activtrades.

Roberto Pandolfi interview edited by Alessandra Chirizzi.

An Amazing interview to the Forex Top Trader

Background information until the prize-giving ...

Roberto Pandolfi won the “Real Money” category classification of the Forex Contest 2011, organized by Activtrades, by scoring an excellent 506% in two months!

However, who is Roberto Pandolfi? How did he achieve this important result in such a short space of time?

What techniques did he use during the competition? How did he manage the risk? Was it all “a bed of roses” or did he have difficult moments?

We will discover together in this fascinating interview that Roberto kindly agreed to!

Don’t forget: DON’T TRY AT HOME:-)

As broadcast on Class CNBC

ALESSANDRA: (a question out of the blue …): " Did you think you needed 500% in order to win the Cinquecento? :-))))))"

ROBERTO: "Definitely not! The winner had achieved a dignified 78.42% during the last competition. The contest was truly competitive and full of clamorous dramatic turns. However, I realized that I needed to have a go in order to win and, therefore, risk more than is usually advisable with one’s own account"

ALESSANDRA: "So, will we see you whizzing along the Rome streets in a blue Cinquecento? You will certainly not go unnoticed… :-)))"

ROBERTO: "I am happy to have won this Fiat 500 Twin Air that is, amongst other things, very useful in a city such as Rome. However, I must note that my wife has appreciated the prize more than I, given that I almost exclusively use a motorbike!"

ALESSANDRA: "Joking aside… To start with, I would like to give you my most sincere compliments for your winning achievement and the performance you obtained. However, I would like to talk about you before revealing the “secrets” of your effectiveness to our readers. Who is Roberto Pandolfi?"

ROBERTO: "I was born in Rome and I live there. I love this city very much notwithstanding all of its faults. I work in a healthy environment and I am particularly proud of my splendid family. I have many current interests including trading; the latter certainly holds a special place in my heart.
It is a true passion: I spent years and years reading books and reviewing plans, attempting to find the necessary equilibrium between technical knowledge and discipline in order to allow me to achieve the correct mental stance to survive on the markets."

ALESSANDRA: "What made you register for the Forex Contest 2010?"

ROBERTO: The belief (or maybe the presumption?) of having finally achieved the equilibrium that I was talking about before and that could have allowed me, I am not saying to win, but at least to do well.

ALESSANDRA: "Did you ever think that you would be classified in first place with a 500% performance?"

ROBERTO: "Certainly not. The performance achievement whereby, I must admit, I gained notable interest and much reputable certification, took place in two months with completely unexpected events. However, let’s proceed in order:

I was in 78th place at the end of the first week!!!!!!

However, I was following my trading plan… Simply put, the market did not immediately progress in the right direction.

The following Monday, and as forecast, the eurusd had begun to fall after a perfect double maximum. It began to fall to the point where I could finally close the position in profit and, furthermore, end the week’s general classification in fifth position.

The essential step in my climb toward first place had certainly been a special event… the borgstreet “suicide” (that was in leading classification) … I believe this story is interesting to summarise at this point, in order to honour one deserving opponent (if not all of them) that deserves respect; this mainly because it represents the best example of what one should never do whilst trading.

This is the text that borgstreet sent to the Forex-contest forum on 3 February:

Reply to Chilomba (Roberto Pandolfi’s nickname), I am saying that the Borgstreet experience has taught a lot, even to the same Borgstreet. I will find it difficult to forget that morning of 23rd December 2010 when I wanted to overreach myself and become unbeatable (a true fault since my youth) with a stellar performance of over 500% in little less than three weeks (achieved by “trading” a max of 2 lots each time); entering and exiting forex with 10 lot strikes (crazy total), burning the entire portfolio... (Imagine my moral over the Christmas holidays… terrible!)

However, I hope to be able to compete with you (against you) again in a possible future competition that I hope Activtrades will decide to organize.

Well done Chilomba and good luck in your trading!

With regards

borgstreet

I found myself leading the general classification at this point and, after having moved a long way away from my competitors with other profitable trade, I was in a powerful position and able to manage my advantage up to the end".

ALESSANDRA: "How much did your account measure at the time when you registered for the competition?"

ROBERTO: "2,000 Euro"

ALESSANDRA: "and at the end of the contest?"

ROBERTO: "More than 12,000 Euro!"

ALESSANDRA: "I imagine that you didn’t use a 1:1 lever:-) Joking aside... How did you manage the risk?"

ROBERTO: "I did not weigh up the so-called Position Sizing on the basis of the usual Money Management rules but on the basis of those that my experienced opponents were using. The basic aim was to finish among the leading competitors!"

As one can see from the following plan and track record, there had only been a few, but well- chosen, transactions that essentially made the difference.

I also did scalping however not the trading kind that suits me…

Too much stress and too much time (that I did not have) in front of the computer and little consistency in relation to performance.

Therefore:

  • Rule number 1: follow the trend

  • Rule number 2: make ‘greater profits’

  • Easy isn’t it? Who doesn’t know this rule?

Here is my Track Record related to two months of competition:

Class CNBC interview