Danny Rebello ThriveGlobal Interview
Danny Rebello is the co-founder of TruTrade.IO, an automated trading technology company based out of Scottsdale, Arizona.
TruTrade.io is a software company that provides institutional-grade trading technology to retail traders. TruTrade’s trading strategies are highly effective, whether they’re trading in the futures Forex or the equities market.
Their clients are seeking to break free from the manual trading mindset and want to move away from executing trades manually. TruTrade.io lies in between hedge funds and the rest of the pack, providing institutional trading software to individuals that really want to take control of their trading. That way, they control their own accounts, positions, and downside risk. TruTrade.io provides automated trading strategies to allow the client to really keep up with the rigors of the market. TruTrade’s software allows traders to keep pace with rapidly moving markets by utilizing customized algorithms that exploit short-term inefficiencies and hunt down price action patterns.
Why did you decide to create TruTrade?
My partner and I created TruTrade.IO because we saw a massive void in the industry. There are a lot of companies out there that sell indicators and platforms that are useful, however executing positions with precision and applying complex money management strategies is a daunting task and without automation traders often find themselves late to the party, if you will, and it is very difficult for the average trader to be consistent. The large banks use algorithms to move the markets. So, an average trader, professional or beginner, utilizing older technology, is not conducive to what is needed to be profitable in today’s trading environment.
We saw that most traders ended up losing a lot of money, not just the money they were trading with, but also the money that they had used to learn how to trade and all the money they sank into the financial tools that didn’t work. We noticed that a lot of traders failed, not because of their inexperience, but because they did not have adequate software. TruTrade.io is there to fill that void and give the power back to the trader. It gives the trader the opportunity to really trade with hedge fund quality software.
Our products are highly effective and have many customized automation now that fit the role of a beginner up to the seasoned professional. We are unique in that we talk to every one of our clients. We do not arbitrarily sell the same product to every client. We want to understand our clients, where they are as a trader, account size, trading goals, and understand their downside risk tolerance, and whether they have failed in the past to better see the entire picture. This way we can provide the client with software that meets their expectations.
We like for our clients to have some sort of experience in regard to price action and an overall understanding of how the markets flow. The more a client understands the market, whether trading stocks, futures, or Forex markets, they will better understand the software and get the most out of it.
How do you separate yourself from the competition?
There are a lot of misconceptions out there and many companies market themselves as selling bots and trading algorithms. Every human being wants to click a button and make money however where these other companies are going wrong is that this isn’t how strategies and individual networks are supposed to be utilized. When you have a client that has a minimal amount of money or let’s say under $25,000, they are going to be utilizing a single strategy or a single bot to trade with. When you trade at that level, you are not trading with multiple accounts and you are not trading with multiple strategies like hedge funds do to minimize risk.
TruTrade.io has a completely different approach. Our clients have complete control over how the bot is deployed. Of course, we provide the client the guidance, but they can tune their own strategies with our automation. There are countless ways to deploy our systems, our automation is not black-boxed, clients have the ability to control their own software. They can build their own customized strategies while utilizing our technology to enter positions with precisions while safeguarding their positions with our integrated money management software.
What keeps you motivated?
Back in the day, and this has to do with probably about 90% of our clients- myself and my partner included- we have all spent tens of thousands of dollars learning the trade. We have all bought software and we have all bought financial tools that just do not work. As we have been trying to trade, like most traders, we really want to be successful, and what drove us to build this company was to fill that void. We wanted to help shorten the learning curve and minimize the liquidity needed to effectively trade. There are a lot of traders that really just want the freedom trading brings and want a helping hand to get them started, and that is where TruTrade.io comes in.
We provide really high-end software to help traders succeed on a day-to-day basis. We found ourselves motivated to alleviate some of those losses and frustrations that traders experience while honing their trading skillset.
How do you motivate others/your clients?
Traders that are beginners, intermediate, or professional can all benefit from our software. We provide videos and recommended settings to all of our clients to help them get the most out of their software. The learning curve is just a matter of days. Our software is very intuitive. There are only a handful of settings that you need to apply to the strategies for them to perform properly.
What traits make a successful trader?
What makes a good trader is always wanting to understand why something didn’t work. Most traders that are successful don’t just rely on what’s given to them. They always want to look at and understand the markets. They always want to understand the ebbs and flows of the markets they trade. In our case, it’s price action and momentum that need to be understood. Once they understand this, apply our automation, understand the nuances of the software, that’s when traders really excel with our software.
The ones that take TruTrade and just click a button, walk away until the end of the day, and then come back and expect to make money, are the ones that struggle. It’s kind of like the old saying, “you get out what you put in”. The software is there to automate your entries and to automate your exits. That automation takes about 95% of the heavy lifting out of trading, however for those that really apply themselves, they really start to see the benefits of the software that TruTrade provides.
What suggestions do you have for someone starting in your industry?
My suggestion for anyone that would like to start trading would be to understand the type of trader you are. Are you a scalper, do you like to hold positions overnight, maybe a little of both. Whether you trade equities, whether you trade Forex, or whether you trade futures, my recommendation would be to understand the basics of price action and momentum. To understand the movements of the markets and how price action works, those are the basics that you need. Once a person understands this, it gives them a foundation of how to trade. This holds true whether they trade manually or whether they trade with automation.
It’s kind of like trying to learn English but without understanding the alphabet. You can speak English great, but how do you write and how do you read? It’s the same thing for trading. Even though automation is amazing, and we have very, very high-end automation, we still want our clients to have the foundation. At TruTrade, we definitely don’t want to come across that anybody can just use it. We definitely want them to have a basic understanding of price action, and this is part of our vetting process when we talk to each individual client.
We are not interested in selling our systems to everyone that will pay us, we are a better company for it and sometimes we protect the clients from themselves. This is what really sets us apart from the pack, it’s ok to tell a client no, it’s not a good fit!
