Trader Chat: Interview with David Aferiat of Trade-Ideas.com

We sat down with David Aferiat of Trade-Ideas.com at the Macelleria restaurant for lunch and an interview. What could be better on a Sunday afternoon than to chow down on some sicilian egg toast in truffle oil, espresso, and champagne while talking trading, automated trading, using Trade-Ideas? (Interview on Sunday, February 22, 2009)

Check out Trade-Ideas: http://www.trade-ideas.com
Follow David Aferiat on Twitter: @tradeideas

FINZ.tv: What Is Trade-Ideas?
David: Trade-Ideas is a market scanning tool. It uses technicals, it uses patterns and criteria that you set. Then, it presents all the stocks in real time that match that criteria, that match those parameters. So, you get a constant feed of ideas, of stocks that are matching patterns you want to look for. (For example) That pattern could be 30-day highs on higher than usual volume, it could be VWAP divergences, it could be sector divergences, it could be gaps, it could be anything. The robustness of the tool and the length of the alerts and filters we have in it means you can model almost anything.

FINZ.tv: Who is using Trade-Ideas?
David: Whole spectrum from professional traders down to retail traders. We have integration with Scottrade, E*Trade, traders on the floor of Merrill Lynch and UBS use the tool.

FINZ.tv: How are you using the tool?
David: The way I've been using the tool recently are based on VWAP (Volume Weighted Average Price) divergences. That is, when a stock goes way beyond is Volume Weighted Average Price, where its really beyond where it should be, and then fading that retracement back to its average.

FINZ.tv: Dow call?
David: I...don't like saying this, but I think we could go to DOW 5500, there's a big air pocket below where we are, so, and 55(00) and there's not a lot of resistance, so I think...but I'm not gonna...I wouldn't bet money on it.

FINZ.tv: Are you any good at poker?
David: I am no good at poker, and that's why I only participate in charity poker events because I know the money goes to someplace, out of my pocket, into a good cause, but I'm what they call a "Donk" (Donk is a poker expression for an unskilled player). I'm a full saddle, bit in the mouth, Donk.

**Thanks to Macelleria for providing the venue for this interview and the amazing food. Macelleria is located in the meat packing district on the lower west side of Manhattan.**

**For pictures from the interview, visit the episode page at: http://finz.tv/2009/03/01/trader-chat-interview-with-david-aferiat-of-trade-ideascom/ **