While many traders are drawn to the excitement of fast-moving charts and constant market action, this week’s featured member found his edge in something much quieter: patience.
Meet @igillman, a computer programmer originally from Cambridge, UK, now living in the United States. Long before writing code and testing trading ideas, however, he spent time in a much more unusual profession—working as a magician’s assistant where discipline and preparation were as important as being in the spotlight.
His journey into forex began when curiosity pushed him beyond the confines of the stock market. Drawn to the flexibility of currencies and the ability to profit in both rising and falling markets, he soon found himself diving deeper into the world of forex and the unique opportunities it offered.
That philosophy led him to a breakout-and-retest strategy on the daily and weekly charts, where patience often matters more than speed. As a programmer, he’s able to test systems and analyze ideas with data, but he believes trading is still more art than science.
So how did a former magician’s assistant become a programmer and patient breakout trader? Why does he think most traders enter the market with the wrong expectations? And what lessons has he learned from years of watching, waiting, and letting the market come to him?
In this interview, he shares his story, insights, and life beyond the charts!
So, without further ado…
Let’s give it up for @igillman!
1. Tell us a little bit about yourself. Where are you from, and what are some of your interests outside of trading?
I am originally from Cambridge in the UK but I have been living in the USA since I graduated college. I like to read about historical events as well as some of the latest scientific breakthroughs. My college major is “Computer Aided Chemistry” and I am currently a computer programmer although I started out as a magicians assistant.
2. How did your trading journey begin? How long have you been trading and what got you into forex in the first place?
I have been in and out of the forex market for several years now. I got into it because I wanted to try trading but the stock market seemed a bit constrained in what you can do. It is easy to go long on a stock but tricky to go short and almost impossible to use leverage. The forex market allows you to do all of that without any extra hoops.
3. In your opinion, what’s one thing you think people get wrong about forex trading when they’re first starting out?
They think it will be “follow these rules to become a millionaire”. In reality there are no hard and fast rules, nothing is 100% and yes, you missed the big move when it happened. It is definitely more of an art than a science. You can do everything right and still lose, you can also do everything wrong and win.
4. What originally attracted you to trading a breakout/retest strategy on the daily and weekly timeframes instead of the fast-paced style many traders chase today?
I have a full-time job so I cannot look at the markets constantly, I have to either write a bot to do it for me or work with the longer timeframes that fit my schedule. I am not a fast paced individual anyway so taking the once per day approach works with my lifestyle. The daily and weekly timeframes seem to know where they are going and tend to get less sidetracked.
5. In your experience, what’s the biggest mistake traders make when trying to trade breakouts?
Trading too early or trading on a weak breakout. You have to be patient and wait for the retest followed by a move in the direction you expect. It is very much a “sit on the porch and watch” style of trading. A breakout needs to be clear and obvious, wicks are important as they tell you if there is resistance to movement in the direction of the breakout.
6. What was the logic behind your pair selection process, and do you think more traders should simplify their watchlists?
My pair selection process is actually quite simple, across all 4 pairs each currency is only featured once, each pair is low spread and all 4 pairs are high volume. This way I do not have to worry about opening up too much risk on any one currency or having a wide spread stop me out overnight. Having less to watch means you can focus on the pairs you have a little more closely, you can take the time to really understand what is happening.
7. Since you’re also a programmer, how much has coding influenced the way you think about trading systems, risk, and decision-making?
I am able to take a trading system and run it against a lot of currency pairs easily. This enables me to figure out how good a system is very quickly. It also allows me to see exactly how indicators react in certain situations and they affect the outcome of a decision. Basically, if I read about some new system I can try it out with real world data and I can analyse it to see if it can be improved.
8. Do you think people with analytical or technical backgrounds naturally have an advantage in trading? Why or why not?
I would say that the people with analytical or technical backgrounds have more confidence in their approach but I am not sure if they are any more successful. I think a successful trader can understand what the chart is telling them regardless of how they understand it.
9. Let’s step away from trading for a moment! What are some small things that make your day better?
That is difficult to say really, I am an introvert who likes a slower pace so being away from people and just enjoying downtime.
10. Where do you see yourself in 10 years?
Retired and hopefully trading for enjoyment and not trading to afford groceries.
