Joe Texido is a
straight-talking, no-nonsense type of trader.
He doesn’t operate any web sites or online chat rooms. He doesn’t speak at trade shows and
he doesn’t write newsletters or magazine articles. He doesn’t credit any market mentors
for paving his way.
Joe focuses on substance, not
style. He is veteran of 30 years in
the futures industry, with experience in sales, trading, compliance and
management at investment banks and large Futures Commission Merchants. He currently manages an execution and
clearing desk at a major brokerage firm and is a principal of a Commodity
Texido keeps things simple. His trading is based on a combination
of technical analysis, trend following and pattern recognition. His risk management is tight. In his WorldCupAdvisor.com program,
he trades oil futures exclusively.
Joe normally limits exposure in
his WCA program to no more than one round-turn per session. “Usually the model
provides multiple entry points during a given day but we choose to trade only
once during the session,” he says. “While
we usually trade each day, our screening process sometimes emits a cautionary
signal on a trade date and consequently we may decide to remain on the
“This is usually due to the
release of economic data that may increase volatility in the energy markets. Another reason for not participating
may be global events that temporarily change the complexion of the energy
When Joe enters a stop-loss
order, it is generally not moved.
There is no “cancel if close” mentality in Texido’s trading.
In addition to the use of
pre-determined stops, Texido uses a risk-reward model that sometimes dictates
position exits before stop levels are hit.
The overall objective of
Texido’s WCA program is direct and understated.
“Our ultimate goal is to make modest daily returns on a consistent basis
while trying to preserve capital, occasionally making the better-than-average
trade,” he says. That’s vintage Joe.
The profile above includes statements of opinion. Trading involves substantial risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results.