Eye of the Storm Podcast with Guest Wally Olopade of RightSideTrading.com by Michael Filighera

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Welcome to the Eye of the Storm Podcast. We have a very special guest today: Wally Olopade of RightSideTrading.com. Wally has been trading in the stock market for more than 15 years and is an expert in trading robots and algorithmic trading.

We’re delighted to have you join us today, Wally. Could you please tell us a little bit more about what drew you to trading robots and algorithmic trading?

Thanks for having me on the show. What drew me to robots and algorithmic trading is the level of automation and precision that it offers with regards to trading. With robot trading, trading decisions are based on pre-programmed parameters, which helps to take the emotion out of trading and makes it easier to backtest and measure outperformance. Plus, it allows me to focus more on my fundamental research, which is really beneficial for long-term success.

That sounds like a great way to take the emotion out of trading. How has robotic/algorithmic trading evolved over the years?

The technology in the field has evolved significantly over the years. Trading algorithms have become much more sophisticated, allowing traders to identify opportunities faster and more accurately. Plus, the availability of data has increased dramatically, which has helped traders to make more informed decisions. Lastly, the usage of artificial intelligence in trading algorithms has drastically increased, allowing traders to make smarter, more adaptive trades.

It sounds like robots and algorithmic trading offer a more efficient and effective way to make trading decisions. What advice would you give to someone who is just getting started in this area?

The first step is to get familiar with the basics of robot trading. This includes understanding the different types of robot trading, how the robots work, and how to properly backtest and optimize their robots for maximum performance. It’s also important to understand the challenges and risks involved with using robot trading, as well as how to properly manage risk. Finally, it’s important to understand the market and how to properly analyze it.

That’s great advice, Wally. So in closing, if someone is interested in trying out robot trading or algorithmic trading, what would be the first step they should take?

The first step should be to do some research. It’s important to understand the different types of robots and what they offer, as well as the available data sources and the different types of algorithms used to generate trading signals. I would also recommend to backtest the robots on historical data to ensure that they are performing as expected, and to evaluate the risk/reward ratio and profitability of the strategies. Once the robots have been tested and are ready to be used in a live market environment, always remember to thoroughly evaluate the market conditions and properly manage risk.

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