LESSONS LEARNED FROM WORKING AS A BUSINESS DEVELOPMENT PROFESSIONAL FOR AUTOMATED TRADING PROGRAMS SPECIALIZING IN CURRENCIES, (EA’s for SPOT FX). PART 2

My day to day work entailed closing clients for automated trading expert advisors. This entailed tasks such as cold calling, converting digital marketing leads from the company’s social media handles, handling walk in clients who specifically came for enquiries on the trading robots as well as organizing seminars to which we could educate the public on automated trading. The eight months experience exposed me to a great amount of research and learning because I had to immerse myself in the world of forex robots. I loved the experience because it was basically a performance based type of work where potential clients would be exposed to real time market analysis on the robots and it would be so such a great opportunity for them to be exposed to the reality that their investment would give them a return on their equity. The trading robots worked using simple indicator based strategies and what really pushed me to do business development for the company was that the robots had an equity stop loss feature that protected the client’s trading capital to a certain percentage allowing room for the robots to let the market do as it pleases. The combination of the robot selection also factored in different risk and reward ratios from extremely high risk high reward to low risk low reward robot selection meaning that they would serve different investors as per their risk appetite.

Photo Taken at the Company’s premises Training Room.

What intrigued me most is that the robots would work in different market conditions, trending markets, ranging markets and even in reversing markets providing more opportunities for investors to cash in. The portfolio selection consisted of seven trading robots trading on six instruments on major currency pairs; EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/CAD and NZD/USD.  They had been configured the robots to work on both MT4 and MT5 trading platforms. The trading robots were based on simple indicator based trading strategies, working simultaneously on all the three market conditions in all trading sessions, London, New York and Asian markets. The robots functioned and traded on a remote cloud server known as a VPS provided by the broker. The company made sure that installation of the robots on a client’s trading account would only be done with brokerage firms who had a stamp of approval from Capital Markets Authority in addition to the international regulation from the country of residence in a bid to safeguard the safety of the funds of the investors. The robots run effortlessly on the MT5 Trading platform which meant that the company could only install the robots using Scope Markets Kenya’s Trading platform.

Automated Trading Seminar Session in Progress.

During the orientation process a week into joining the company, my business partner and I were incorporated & involved in the back testing process of the robots. This saw us go back in time and evaluate whether the robots could withstand the impact of the markets and their sustainability to give returns in future forward tests. The fact that the same robots had been served to institutions & corporations like local banks for their back end forex trading instilled some level of confidence to provide the same robots to the retail investors provided the performance of the very same robots could speak for itself. Numbers do not lie and my work was made easier by the days when statistics backed the results of the robots which saw us generate a new revenue stream for the company by providing the automated trading solutions to retail clients. The minimum trading capital required to start trading using the robots would be $1000 and the equity stop loss would be set at $600 or $700 for a$1000 account size depending on the risk appetite of the client meaning that if there was say a black swan event like a major global recession or even what happened to the financial markets due to the impact of COVID-19, the robots would automatically close all open trades and protect the investor’s capital to the equity stop level.

Speaking during an Automated Trading Programs Seminar.

The performance of the robots really took a huge blow due to COVID in the second quarter of 2020. Using a martingale strategy; the robots could barely withstand the impact of COVID 19 market reaction. This saw my supervisor adjust the equity stop losses for some investors with some of them cashing out but it was until May that the staff including my role in the company was terminated. I enjoyed the lessons and came out with great communication and client management skills due to the rapport that had to be nurtured while dealing with clients across board. I managed to generate revenues for the company with majority of the clients ranging from a minimum capital size of $1000 to even $10,000 for some investors. I developed and nurtured work relationships that will go a long way in the financial markets industry and that experience to me was golden and still has a huge impact in my day to day work operations pre and post COVID. To see the future of finance with automation first hand is an experience I wouldn’t trade for anything because the role prepared me to endless possibilities, research and potential realities of what trading robots can do for a specific niche of modern day investors.

6 thoughts on “LESSONS LEARNED FROM WORKING AS A BUSINESS DEVELOPMENT PROFESSIONAL FOR AUTOMATED TRADING PROGRAMS SPECIALIZING IN CURRENCIES, (EA’s for SPOT FX). PART 2

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