Maintain a positive attitude and surround yourself with positive people.
Doron Rosianu is the owner and founder of the Pitbull Trader. The Pitbull Trader website shares a method of trading futures and commodities. With over twenty years of industry experience, Doron has gained an abundance of knowledge in this field.
Doron shared his thoughts and insights on trading using this analogy: “In trading, there are two main ingredients to bake the cake. There are a thousand different ways to bake a cake but there are only two ingredients to make it rise. First, you need a favorable risk to reward. Too many rookies risk more than what they should in hopes of greater gains. All you need to do is to get into a pool of losses, and you are wiped out completely. The way I trade is to always have a favorable risk to reward at least, times three. For example, I am willing to lose one thousand but my goal is to make three thousand. Second, are high probability trade setups. This means, from a statistical point of view, that there is a good edge percentage wise and if you have a favorable risk-to-reward, it is the recipe to bake the cake. It cannot work any other way.”
Where did the idea for your company come from?
Ever since I was a teen, I had a strong interest in trading stocks. Then, I met a futures commodities trader. At that time, I had no knowledge on trading commodities. I quickly learned that the amount of money that can be made in the commodities markets was tremendous. However, as tremendous as the wins would be, so could be the losses. The knowledge I gained about the commodities market during this period really sparked my interest. Ultimately, what I learned is that a piece of software cannot tell you when to invest in a commodity and when to pull out. That scenario is impossible, there is no magic indicator. You have to use your own discernment when buying and selling.
What does your typical day look like and how do you make it productive?
My day begins with a healthy breakfast at 8:00am. By 8:30am, I am at my computer to see what important economic news are coming out and at what time. Shortly after, I begin watching the oil market as it’s pretty active at this time of day. I work the market for the next 2 hours. I like to be done trading by around 10:40am. By efficiently trading at the most effective times, I am able to free up the rest of my day for other activities like mentoring and teaching.
How do you bring ideas to life?
I am a firm believer in the saying: “if it is not broken, don’t fix it”. I have created a technique that has worked very well for me. From time to time, you have to review methods or techniques to see if there can be an improvement. Each time I have attempted to improve my technique, I have come back to my original method.
What’s one trend that excites you?
The crypto-currencies is a new trend that I find interesting. However, I am not a believer in that currency. There were a lot of people who made a lot of money very quickly, which is exciting. It is something that I chose not to go into.
What is one habit of yours that makes you more productive as an entrepreneur?
One of my habits that makes me more productive as an entrepreneur is a very strong go-getter attitude. I do not allow myself to get discouraged if I did not have a good day of trading the previous day. I know that ultimately, we don’t have control over the market. All I can do is make an educated guess on the direction of the commodities markets. I maintain a positive attitude and I surround myself with positive people. I get right back into doing what I do best.
What advice would you give your younger self?
If I could give any advice to my younger self, it would be to stay in school and learn a good profession. Trading is not for everyone. It would have been wise to learn a profession as a backup. Trading is a very stressful profession. Several people have asked me why I stop trading after only two hours and that is why. Two hours is enough time each day, and it allows me to enjoy the rest of my day however I please.
Tell us something that’s true that almost nobody agrees with you on.
There were two times that I personally lost big time while trading. Once I lost one hundred thousand dollars in the stock market and one hundred and eighty thousand in the futures market. Both of these losses happened on one single trade. Everyone I knew told me that I should stop trading and disagreed with my choice to continue. I proved them all wrong when I discovered the ingredients that I was lacking in the market. Now I can trade using my proven Pitbull Trader technique.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
As an entrepreneur, one thing I do daily that I would recommend to everyone else is simply be available. I am always available on skype to speak with my students. If someone needs advice, I am available to help people from all over the world. I do pro-bono work to an extent and I would recommend everyone else do this from time to time as well. I drill my Pitbull Trader methods and techniques into my student’s heads; it can make a great difference in a person’s life.
What is one strategy that has helped you grow your business?
One strategy that has helped me to grow my business is YouTube. It has a strong audience of people from around the world who visit YouTube daily to look for assistance. They are looking for indicators, techniques, and strategies. YouTube is by far my best strategy to grow my business as it is a great platform for teaching.
What is one failure you had as an entrepreneur, and how did you overcome it?
As an entrepreneur, one failure I experience is when my students do not stick with their provided recipe for trading. When they do not follow through with the program, we both fail. However, I overcame this by integrating my Pitbull Trader two ingredient, risk-to reward and high probability trade set-ups which allows us all to be successful.
What is one business idea that you’re willing to give away to our readers?
A good business idea for someone who wants to trade futures, stocks or forex is to find a method that works. Your method will need to include high probability setups and a favorable risk-to-reward. It is important to start off using simulated accounts to get a feel for trading. Once you begin trading a real live money account, you will know if this business is for you or not. If you find your method to be successful, you can develop a business of sharing it with others who do not want to work to find their own method.
What is the best $100 you recently spent? What and why?
The best $100 I have spent recently was on a night out with the family. Bonding time with the family is important for building memories.
What is one piece of software or a web service that helps you be productive?
I use the Ninjatrader platform for my every day trading. It is an all-encompassing industry software. In my highest opinion, it’s the best trading platform out there. It provides all of the required charts that are necessary to work with.
What is the one book that you recommend our community should read and why?
I would recommend that everyone in our community read “Wealthy Barber” by Dave Chilton. This book is a guide for people who want to become financially independent.
What is your favorite quote?
“Insanity… is doing the same thing over and over again and expecting different results.” – Einstein.
● Stay in school and learn a good profession. Trading is not for everyone.
● It is not necessary to trade beyond two hours per day.
● Maintain a positive attitude and surround yourself with positive people.
Carlyn runs the day-to-day publishing operation here at ideamensch and interacts with our awesome customers and entrepreneurs. She is likely editing this with a cat on her lap.