Interview with trader: Dave Fox

Name: Dave Fox
Education: Business Administration, University of Maine
Position: Advisor to trade on commodity markets, registered in 1984.
Favorite book: "New systems and methods of trading in commodity markets," Peri Kaufman

Nothing, perhaps, does not pose a smart trader's futures than the time and money, a lot of time and money, and when Dave Fox sold his share of the family of cargo in 1980. He suddenly got both. Fox is a developer of a successful "Dollar Trader, designed to trade currency futures.

In 1980. moving away from business and being only 50 years old, Fox began to spend time in the office of a good friend who was a broker for shares, and broker for futures. Dave is also a lot of researched and traded independently.

By 1984, he realized that to sell successfully, you need a systematic approach. In the same year, Dave Fox was the Advisor to trade on commodity markets.

Perhaps no system requires more for a recommendation: the system has passed the test of time, it is suitable for trading on the popular markets and currency markets, as markets trend, is well suited for this trade.

Dave is well known for his honesty and openness.

Question: "The dollar Trader," once again is in the list of the top ten systems. What, in general, you have attributed to its high efficiency?

Dave: Once a trading system, you need a good market to make a substantial profit. For example, in one year, in the first half of the year, the European currencies, led by the Euro have been steady down trend against the U.S. dollar, while the Yen went sideways. Then the situation is completely changed, and the improvement of the yen against the dollar has brought great benefit. This is a rather typical situation in the foreign exchange market and, through this, my system is so popular.

Q: What led you to develop trading systems? Or what inspired you to create a "dollar a trader?

Dave: During 1990, the indicators that I used to sell dollar and foreign currency futures, makes a profit commensurate with profit programs that have been made to the rating "Futures Truth", so I decided to include these indicators in the software package that can be also evaluated by the organization.

Then, testing has shown that USDX was the most reliable tool, so I demanded that my system was evaluated on the same.

Question: What do you say to those who said that the "dollar Traders' hard sell?

Dave: From my conversations with users, I realized that the most difficult part is to withstand the downturn, but if you're going to grab more profit, you must be a loss.

Question: Do you plan any modification or revision of their systems in the near future?

In 1996, we expanded the program to adapted it to trade on the German mark and yen.

In 1999, sales of German mark almost disappeared, and USDX re-formed to a 57% consist of the Euro, so we demanded that the program was evaluated through the euro and yen.

You can also sell the Swiss franc, but I would recommend that use the euro as a filter. As the Euro continues to be successful, we hope, will not have to do more revision.

Question: Do you trade for yourself this year? If yes, what were the results?

Dave: There are many brokers who traded on a particular program for its customers, and my account is traded under the program of one of them. If I knew the best way, I would say to your users!

Q: What advice would you give to those who trades on your system, or any other system?

Dave: The result of course important, but I think that you should understand and be confident in the logic that the trade system.

I could never sell in the cycle, because I have no confidence that the next cycle will be consistent with the previous.

Question: You are currently working on any software project?

Dave: From time to time, our users make suggestions, and I check every idea to see whether this will improve our results.

Question: What is the usual mistake of those who try to develop a trading system?

Dave: The use of so-called continuous contracts will inevitably lead to unreliable results. Any technique that uses a rolling average would be distorted when the contracts are linked together. I do not know of any continuing contracts that have not changed to the closing price.

Forex Magazine
based on www.futurestruth.com