David Materazzi Podcast Transcript

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David Materazzi Podcast Transcript

David Materazzi joins host Brian Thomas on The Digital Executive Podcast.

Welcome to Coruzant Technologies, home of the Digital Executive Podcast.

Brian Thomas: Welcome to The Digital Executive. Today’s guest is David Matarazzi. David Matarazzi is the CEO and founder of Galileo FX, an Orion software development headquartered in Italy with offices in New York and Tokyo. Since 2020, his firm has specialized in developing automated trading software. That eliminates the need for constant manual monitoring, specifically it’s flagship product, Galileo FX.

It uses advanced algorithms and customizable strategies to enhance efficiency, reduce errors and operate 24/7, proving a significant advantage over traditional manual trading. David has more than 15 years of executive experience in the equity and currency markets. He genuinely believes that advanced trading tools should be accessible to small investors, not just large institutions.

He uses his forward-thinking approach to create innovative software that continues Galileo’s FX mission of making trading simpler, transforming complexity into clarity, challenges into opportunities, and traders into confident investors.

Well, good afternoon, David. Welcome to the show.

David Materazzi: Nice to meet you, Brian. It’s good to be here.

Brian Thomas: Absolutely. And I appreciate you jumping on, you know, I’m in Kansas City. We talk about this on the podcast all the time. You’re out of Tuscany, Italy, which is amazing. I love doing international podcasts. So for you to jump on a call at this time of day, uh, it’s just amazing.

And I appreciate you, my friend, David. You’re welcome. We’re going to jump right into your first question. Galileo FX has been described as a tool to make trading simpler and more accessible. What inspired you to develop this platform, and what gaps in the trading market were you aiming to address?

David Materazzi: Okay. So around 15 years ago, I moved to Canada, to Toronto, and I found a job at a huge investment firm, right? They were trading 3 point something billion dollars on the New York Stock Exchange every day. And they had like 2, 000. Traders all over the world. And I had graduated in business. You know, I was passionate about business and business development, sales marketing.

And I got this job and I got into this industry. And over the years, I was able to talk to thousands of traders to know the industry really well, the market really well. And I noticed, I started to notice what were like the pain points for users. What was like, For traders, like for what was confusing people, what was like preventing them even to be successful or to just even get started, especially the beginning, I saw like a lot of barriers to entry and most people would think that barrier to entry, it’s like money or you need money to, to trade or to invest, but that’s actually not the truth because.

You know, there are many, many different ways to get capital. Uh, there are proprietary firms. There are all kinds of agreements that you can have if you have the talent, but to develop the talent, you need the right education and the right tools. And this is supported by research, right? Universities have done research, Columbia universities, university has done research about it.

If you have the right tools and the right professional education, you increase your chances of succeeding in training, which has usually like only 5 percent success rate. So it’s the same success rate as starting a tech company. So you, you imagine it’s really, really hard to succeed, but it’s not impossible.

But in order to succeed, you need the right tools. And the right education. And I saw that in the education, you have a lot of actually professional education out there, but the tools were still limited, especially for, you know, the average investor, the average person, independent investor investing and trading his own money.

They don’t want to make it, to feel it like it’s work, right? For them, it has to be also. You know, fun and approachable. And they, yes, they want to learn, but they don’t want to be in front of a super complicated platform that’s used by professional traders. So that’s where I saw the opportunity. And I thought that automation is going to be the future.

I was right. Now we see it everywhere. AI is. Came out so automation is everywhere because people are fundamentally lazy in a sense that that’s not bad. It’s not a bad thing because being lazy increases productivity if it’s a good kind of laziness, right? So you can actually have software do a part of a process that is really time consuming and focus your time and efforts into the strategy on how to set up like automated software.

Brian Thomas: Thank you. I love that. You know, we talk about this a lot on the podcast, how entrepreneurs like yourself are finding a better way to do things, be more efficient or solve a world problem. And in your case, you’ve actually leveled the playing field so that people, the average day user can get in and start trading and investing no matter where they’re at in their career, their age or their financial status.

I really love that. And I just appreciate it. So David with headquarters in Italy offices in New York and Tokyo. How do the different trade practices and regulations across these markets influence your product development and strategy?

David Materazzi: All right. So our main market is the U S we have 95 percent of the clients all over the U S mostly in New York, Miami, California, Texas, but we also have offices in Tokyo, right?

In Japan, because that’s also where we want to enter the market. And it’s, it’s, it’s incredibly tough to enter the Japanese market, but you know, we like, like. Good challenges. It would be easy to do it like in Spanish and go in South America would be very simple, but it wouldn’t be as challenging for us.

So we really love Japan also personally. So we decided, why don’t we try and make it in Japan? So that also shows us the differences, right? Also the way people trade, not just the regulations because regulations, I would have to say. In first world countries, developed countries, they’re pretty much the same, right?

You’re not going to find huge differences in Europe or in the U S or in Japan, not as much as you would do, like maybe China, right? China, it’s a totally different world. India, those countries are different, but I would say in the first word, I don’t see that much difference into the regulation aside because they pretty much align.

But what I see the difference is the. People behind the trades, right? The clients that we have, the culture is different. We see clients from New York. They have a certain, not just a reputation, but you can actually see it. You can see that they are more willing to risk. They’re more comfortable with risk.

They’re more comfortable with uncertainty because. That’s the culture of the local culture. If you want to make it in New York, you can’t, that’s how you, you make it. Right. So that’s how people usually also trade the, it reflects on trading on the way they trade. So we see definitely more risk taking, you know, a more openness also to new products compared to Japan, let’s say.

And that’s, I’m not saying that that is good. One thing is good. One thing is bad, but Japan. You know, it’s much more stable. It’s a stable country where people are risk adverse. They don’t really want, usually. Then you have, of course, each individual is different, but I’m talking the general culture that affects even single individuals.

You see like different styles of trading, Japan, less risk, more stability. And you can also see that reflected into the economy, right? It’s a very stable economy. US, especially New York, more risk taking and more openness and more, let’s just do it. Let’s do it more action based Japanese. People, they like to think first, they like to understand everything first before they even start to be interested into, in a product, right?

So we, we see that cultural differences, definitely. But I think that’s great because different people can find different ways to succeed in trading. It is not just one single method, like. Thousand ways to make money in the stock market. And you have to follow the way that also consistent with your culture, with your background, with your values.

And so I think it’s good to have different opinions and point of views.

Brian Thomas: I love that. And, and I kind of maybe associate it with the higher the risk, the higher the reward, and I like how you do your research in those markets and find out what really the sentiment is and what they like to do. And are they risk takers or are they more conservative around risk?

I really do appreciate you sharing the different markets. I think that’s important and I’m glad that you’re doing that. David, the next question I have for you, automated trading software like Galileo FX operates continuously without the need for manual oversight. What are the key advantages of this feature and how has it transformed the trading experience for your users?

David Materazzi: So time is limited is the same, you know, amount for everyone. The money is not like that different people have different amounts of money, but everybody has the same amount of hours in a day. And I found out over time that successful people, they really know how to use their time wisely, avoiding things that are not really impactful in the big picture, right?

So looking at charts. And trying to analyze everything by yourself and being ready at the right moment to click with your mouse, right? Do you think that’s really good use of your time? I don’t think so. And many, many, many thousands of people, our clients, they also agree with us. So what if you use the time to think about a strategy?

And to monitor what an automated trading software is doing and adjust the robot pointed to the right direction based on your own analysis. You know, this has a lot of advantages because now you have like the robot doing the work in a sense for you, but You are also directing the robot, the automated training software to do certain things instead of others, or to, you know, you can monitor what happens when you have this certain strategy, what happens when the market turns around and I was using that.

So it becomes more like checking analysis. And making decisions. That’s what you should be doing. You shouldn’t be like clicking and checking the numbers. That’s not trading. Trading is all about looking at a thousand numbers every minute or trying to, and believe me, most people, they think that’s what trading is.

They think, Oh, I’m going to just sit here and look at these charts and try to figure it out. And those are, I never found a successful trader who had that approach. Never. You need to use your time into decision making and then automate as much as possible that what you can automate, right? You put the mind, the software puts the hands in a sense, right?

If you want to use that analogy. And that’s a much better use of your time. And that’s why it changed the way people trade, right? It’s, we created like a hybrid approach, but it’s not fully automated. So you’re not letting like the robot making all the decisions by itself, just deciding by itself, because it’s actually impossible.

We don’t have that technology yet. Not even AI can do that yet. Right. So you still need human feedback. It still needs some human monitoring, but you’re going to spend like one hour. Every three days instead of 30 hours, right? Every three days, because if you really want to do trading professionally and seriously, you have to spend all your day looking at it all your weekends.

You have to wake up early and look at research. You have to look at marketing news and pre market with our approach. You can take it in a sense easier because you, your energies are focused on what really matters. You know what I mean? You’re not really spreading yourself too thin. And that has transformed the experience for users.

So it’s not totally manual and it is not totally fully automated. It’s something in between where you use your time and energy wisely.

Brian Thomas: Awesome. I love that. Obviously, we need machines and some automation, like you said, to streamline the process, because I do know some traders in the past that have spent literally their whole waking day doing research analysis, and now we’ve got machines to provide that feedback so we can make better decisions, leave the, again, the mundane tasks and the processing up to the machine.

So I appreciate that. And David, last question of the day, if you could briefly share, as someone committed to making trading tools accessible to a wider audience, what advice would you give to small investors looking to start with automated trading? How should they assess and select the right tools?

David Materazzi: Number one advice, it’s be humble because if you’re not humble. The market will humble you. That’s what people say, right? On Wall Street. So stay humble and take this as a serious endeavor, not just because it’s about money, but because it’s so hard that just 5 percent of the people succeed, but 5 percent is not 0%.

So it’s still possible. You can still do it, but you have to be serious about it. You have to stay humble. You have to admit when you make mistakes, it happens. Everybody makes mistakes, but. You need the personality. It’s about your temperament, you know, to say, yeah, I was wrong. And, you know, next time I will try not to be wrong.

And you really put the effort then to not be wrong again. And how should they assess and select the right tools? Well, there are a lot of tools, as you said, it’s like explosion in the AI automation market for trading, for investing, for portfolio management. Definitely look at tools that make sense to you.

You don’t need the most sophisticated tools. It’s much better if you use a simple tool at 100 percent potential than a very complex tool at 10 percent potential, right? And you don’t have time, you don’t have the education maybe, or you don’t have the background to really learn a really super mega complex tool.

So focus on the right tools that are. Makes it just makes sense to you. It has to make sense to you. It has to, you know, if they offer you like a million dollars a week doing nothing, it just doesn’t make any sense. It’s just common sense, a lot of common sense. And I would say, look at reviews of course, but look at reviews more to get the feel, you know, don’t really make a decision, but to make, to have a feel about the product.

I always look at four star reviews, three star reviews that I know are less biased. Right. So I can, it helps also select the right tools.

Brian Thomas: Thank you, David. That’s awesome. I like how you used some of the qualities that you needed to be a good trader and humility, obviously, is going to be something that will carry you a long way in life, but also in trading, as you know, so I really appreciate all the insights today is amazing.

And David, it was such a pleasure having you on today and I look forward to speaking with you real soon.

David Materazzi: Thank you so much, Brian. It was a great pleasure to be here and let’s see how it goes. Thank you so much.

Brian Thomas: Bye for now.

David Materazzi Podcast Transcript. Listen to the audio on the guest’s Podcast Page.

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