Need that edge in choosing your broker? HyperScalper gives us tips to help you make the right choice!

Do you need that edge in choosing your broker? Well, read on because this guy knows his stuff!


As a trading veteran on a mission to help other members find offshore brokers that suit their trading styles and needs, HyperScalper is an active participant on one of’s longest-running thread, “Going Offshore to Escape the CFTC.” On this thread, he shares interesting experiences with brokers that might help newbie traders choose the offshore broker for them.

In the 6 years that he’s been with us, we’ve come to know him as a private trader, trading researcher, software developer, and even a trading mentor at times. We’re very fortunate to have him share more about what he knows on today’s Q&A!

Without further ado, we give you @HyperScalper!

1. Tell us something about yourself. Where are you from? What are your hobbies and interests?

I am a U.S. citizen, now in my 60’s. I have a B.A. in Psychology/Philosophy, M.A. and Ph.D in technical and experimental Psychology, during which time I also became a self-taught programmer.

I moved to Geneva, Switzerland, and took computer positions. After that, I moved to Reading, England then back to U.S.with computer consulting jobs. I made the decision 15 years ago to use my skills in programming trading systems.

I have been poor financially for many years, persistently working on solving “the trading problem.” I have a broad liberal education and I am left of center politically. I’m also an “engineer” at heart so I enjoy solving problems.

I spend a lot of time working, but try to get moderate exercise and enjoy good movies and current events documentaries. I’m blessed with 2 children, now young men, with good careers ahead of them. I’m trying to be a role model for them, although my years of struggling have made them skeptical that I’d ever succeed…

2. How do people usually react when you tell them that you’re a forex trader?

They don’t know what it is, and then think it’s “boring”. To most people “trading” is stocks, futures or options and they don’t appreciate how important it is to “specialize” in one area and to try to master it.

Forex is an ideal market for trading, due to its internal constraints and the ability to automate algorithmic solutions through tools like MetaTrader. But when they see the potential to make money, then of course, everyone is your friend… lol

3. You’ve been very active on Clint’s long-running thread Going Offshore to escape the CFTC. What motivates you to continuously share your knowledge and experiences to newbies who ask questions on this thread?

I enjoy teaching others, and sharing information, especially information available nowhere else. If you spend a big chunk of your life specializing on solving some problem, then you become one of the few who has any full understanding of it.

Persistence, and following every lead, are the ways of achieving success in any area of
your life. But sacrifice is also a brutal reality until you are able to achieve some success.

It’s a “survival issue” that as a U.S. person we have access to quality brokerages. Without that, all of my hard work may come to nothing. That’s why I participate in the offshore brokerage thread, since U.S. persons are being unjustly refused access to most of the world’s best brokerages. I feel for the “naivete” of the newbies and, sadly, most of them will never succeed but there’s always one who has “the right stuff” and will eventually win.

4. What are 3 things that beginners should keep in mind when choosing a broker?

These days, Forex brokers mostly offer “fair” and efficient access to the markets. Never take “bonus” money, always pay commission separately, and use variable spread pricing with reliable execution.

Beyond that, there’s little to choose among brokers, unless you have very demanding requirements. Good support when you have problems is also a good sign you have a good brokerage.

5. Could you share with us your most memorable experience with a broker? (The name of the broker will not be disclosed.)

Nothing comes to mind, except that I have been lately surprised by the new Crypto Currency funded brokers, and the fact that they actually do have personal support that is surprisingly high quality. I’m more attracted to these, than to the more “traditional” ones funded in normal money like dollar or euro.

6. Congratulations on recently launching your trading bot! What inspired you to come up with this?

Many many years of trying dozens and dozens of approaches to trading. But, mainly, getting the Technical Analysis as powerful as possible. Once you have the Analysis which allows you to predict where the market will move; all the rest is merely execution and details. Without “predictive analysis” any trader is lost.

A trading BOT is able to be “tireless” where a human trader is weak; and also keeping track of dozens of active positions is another area where traders simply “wear out” eventually.

So if you do have a good idea, and cannot implement it yourself first, TRY to learn programming so you can “do it yourself”; otherwise, hire someone who is able to put your ideas into code. Realize that this is the “apex” of trading, which few are able to achieve, and that you won’t have smooth sailing along the way…

7. Since there are other people who offer trading bots to take advantage of other people, what are your tips to ensure that they’d be using effective and legitimate trading bots?

I am sorry to say that most BOTs are built on principles which are not “deep enough” to allow them to succeed consistently. So the best you could do is to be willing to pay for a quality BOT which might be able to make you money, and not to buy the “cheap” ones which are usually a waste of money.

Instead of trying to get a “free ride” from a BOT, consider learning as much about analysis which predicts the markets, and then you may get your own idea for an effective BOT and can either do it yourself, or work with a developer to put your ideas into algorithms. Expect to fail, nearly all the time.

Beating the markets, is an almost impossible task to undertake; so unless you are willing to sacrifice, suffer and be persistent, while being “realistic” about your chances of success; then you may have a life of disappointment and frustration.

Most traders are “gamblers” at heart; but if you are only “guessing” or think of trading as “gambling” then you are doomed to suffer, as that is a terrible lifestyle.

8. Which BabyPips threads do you suggest noob traders to subscribe to?

Anything which discusses the problems of Analytics and Prediction of price movements. Without the ability to predict price movement, you cannot succeed. You’ll find that there are hundreds of proposed solutions which are completely useless, and that would be the beginning of the quest to find what really works…

Disclaimer: you may never get there.

Understand that “describing something” is completely different from being able to
“predict something in the future”. Descriptive versus Predictive statistics is what Traders almost universally fail to understand.
Not just describing what happened, but predicting what is likely to happen in the future, is the essence of Trading or Investing.

9. Non-trading questions! Who is your favorite fictional character of all time?

I like the original Blade Runner movie which blurs the line between human and machine, and the leader Replicant, Roy Batty character who “wants more life” is an artificial or engineered being but comes to understand that he has had a short but amazing life, but that it is “time to die” and that nothing lives forever.

10. What was the most unforgettable non-trading related risk you’ve taken in your life?

The risk of working “for yourself” or becoming an entrepreneur, versus working for someone else who can fire you any time. That is the biggest risk I’ve taken in my life, and even though you may be very intelligent, realize that it might not be enough to propel you to success.

I guess you can say that if you take “the road less
travelled” then it may not be glamorous, and can be very lonely; but you may get to a place no one has ever been before, and taking that risk does make life worthwhile, even though it can be painful and humiliating along the way…

Do you want to be a follower, or a leader and discover something new?

That will be an unforgettable journey.

Get ready to talk about brokers, trading bots, interesting threads… and so much more!


Interesting interview here @HyperScalper! :slight_smile: You’ve given really wise words and I hope your trading continues to prosper! :blush:

I’ve always been wary of trading bots just because I’m not really comfortable with programs etc. :frowning: :open_mouth: Still, I was wondering, apart from the price, is there any other way to differentiate a quality bot from a cheap one? :thinking:

I’ll keep this in mind. :slight_smile: Thank you for this!

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I wish I could give you a good answer for that. There are many services which expose a BOT’s performance over time. However, if they are working on DEMO executions, then they give a false impression of performance.

I have done a decade’s worth of “proprietary research” on predicting the Forex market and, in doing so, have developed highly technical approaches to price prediction. These are so complex that “normal” traders would not be able to use them… and I’ve written many BOTs which are also in such a complex execution environment that they are not practical for general usage.

Study the “transparent” services which track BOT performance, if you want to buy something, but make sure that their performance is based on “realistic” and “live” results without the possibility of being fudged. When you see an Equity Curve which never drops, you are looking at FAKE data.



Hello the conversation is long but I benefited from it superficially thank you and we wish good luck to everyone

After getting scammed by brokers while trading cryptocurrency, I have known the importance of trading with the right broker. They might try to attract you with their zero commissions and other stuff, but that’s not enough.Choosing the right broker is the most important element. After reading this, I am sure that the doubts of many newbies would have cleared.

How do we lay our hands on your boy sir. Help us succeed. If we need to purchase it, what is the price? Please, help an upcoming trader.

This is really a valuable information that I have found in BabyPips. I really appreciate it, thank you.