Interview with Anton Kreil of BBC Million Dollar Traders
PM: Can you talk through what a typical day is for you ?
AK: Typical days now well, I generally get up around six thirty to seven o’ clock, watch the financial news for half an hour and have a coffee. I'll know things probably haven't moved much overnight because I generally go to bed at midnight but its good discipline for me. It gives me an appreciation of all the major levels and what the media are reporting. A lot of people in the industry say you shouldn't watch the media because they're reporting what happened yesterday, but it actually gives me some really good clues for trade ideas.
If they're already reporting what's happened its useful for me because it tells me what the “unoriginal” trade ideas are in the market, so kind of what the idiots in the world are doing. I take a mental note of that and it might trigger some interest in looking up certain trade ideas. I kind of spend most of my day writing my own research, reading other peoples' research and building spreadsheets for myself and for other people through the institute.
It's really not as glamorous as most people think. I'll do this until 7:00 or 8:00 p.m. and then I'll watch more financial media to get their synopsis on what's happened in the world today. Then I'll unwind for a few hours and go to bed.
PM: How has the credit crunch affected you ?
AK: It hasn't really affected me at all, except having to watch it on the bloody news all day every day. I don’t have any debt, I don't particularly want any debt and the whole thing to me is becoming pretty boring, to be honest.
PM: Were you affected by any of the rescue packages and new legislation regarding activities of financial institutions ?
AK: No, I left the industry in May 2007, a good few months before the rescue packages started getting rolled out.
PM: It was pretty good timing, really, and that's one of the key things; picking the top or bottom of the market. Does your role attract much media attention and if so, is it warranted ?
AK: It does, yes, mainly because I'm associated with the business pre the credit crunch and after doing the Million Dollar Trader show, I got quite a lot of media interest on a general level in my life. Is it warranted? I don't really mind it to be honest, as long as it's not over the top and affecting my life too much, then its okay.
PM: How did you get involved with the BBC series Million Dollar Traders ?
AK: I was coming to the end of my travels and I was living in southern Brazil. I was on a beach and got a call asking me if I wanted to get involved in the project. It sounded pretty interesting so I booked a flight over and just told the guys at the BBC and the production company that they had a week to convince me. It was obviously quite a big career risk to go on television in the middle of a financial crisis, give people two weeks training, a million dollars, and watch them sink or swim against the professional traders. After a week it sounded like a pretty good project and the group actually ended up outperforming the professionals over the period of filming.
PM: That sounded quite good. What projects are you currently involved in at the moment ?
AK: I'm obviously trading my own money and I run the Institute of Trading and Portfolio Management.
PM: What's that about ?
AK: We’re an independent organisation that educates retail clients on how to trade the financial markets properly. Around 90% of retail client accounts lose money, so I run independent seminars around the country that give people the tools required to be successful in trading. We don't have any agenda other than helping people to make money, which is really important. So we try to solve this problem for as many people as we possibly can without it becoming mainstream. We restrict the events to a select few people so our methods don't get too much mass appeal. This means our traders stay profitable for a long time. I'm currently preparing for the upcoming tour which starts in Glasgow on the 23rd of October.
PM: It sounds like a change but an interesting change, education based. Linked into that, what advice would you give someone who wants to become a trader ?
AK: I would say you've always got to do your own homework. You've always got to make your own decisions. Don't let other people make decisions for you and don't be afraid to walk away from your own ideas. Always stay disciplined, honest, and true to yourself and always stick to your game plan. Maintain your dignity and integrity at all times.
PM: Thank you for your time Anton.
More information is available at the Institute of Trading and Portfolio Management