1. How long have you been trading?
I have been trading now for almost 20 months.
2. How did you start trading?
I was not too happy of my day job and one day I was talking to my co-worker regarding
currency trading. At first, I was considering of stocks trading then I heard the of the great
opportunities currency trading has to offer plus the great and easy to use platform that is
available for me to use it become an easy choice for me and I never look back.
3. What are your favorite sources for news and/or your favorite technical indicators?
When I first started trading, I did not know much of the technical indicators. I am greatly
relying on the technical analysis DailyFx have provided me. Then I learned to read and
analyze chart formation and Fibonacci which gives me quality trades. I also read current
both Political and Economical News as well as FOREX news which is now also available
with DailyFX. I also use Trends (like my friend used to say, Trend is your best friend until
it bends).
4. What pair do you prefer to trade?
When I first started I use to trade EUR/USD then I found GBP/USD and GBP/JPY suits
my style and strategy better, so I switched.
5. How long do you typically hold your trades?
Minutes, Hours, Days and sometime weeks…it all depends on my entries status (I
usually keep my losing trades a little bit longer until I make some profit on it). It is the
reason why I like currency trading, I can open and close my trades whenever I want
seven days a week.
How much time do you spend trading every day?
When I first started I used to spend almost 6 hours straight no sleep because I use to
have short trades but now I probably learned to place good trades and be more patient I
have limited my trading hours to 4 to 6 hrs with sleep or I will not trade at all for one day
and make it up for the following day.
6. What was your most successful or memorable trade, and what was your most
unsuccessful trade?
It was the year 2009, the month of January, when the U.S. was going through a transfer
of presidential power. I have mostly EUR/USD; all my trades against the U.S. were
successful. I have started with US$1000 and brought it to almost US$20,000 giving my
very first Micro King title. And my most unsuccessful trade happened the following
month, I kept buying EUR and in the matter of days all that funds I have where all gone
giving my first margin call.
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7. What do you think your greatest weakness is as a trader?
I still do not have enough patience, I usually jump to a trade even though it is not there for
me because I feel that I missing out a good trade. I also have a tendency of closing
winning trades so soon and let my losing trade run, hoping it will be a winning trade.
8. What one thing did you do or learn that pushed you over the top?
Not giving up, being more patient and staying calm. I have to think that what I have not
accomplished before have given me time to reevaluate myself and be more focus.
Sometimes you have to lose to win; losing cannot be a failure but rather a stepping
stone to learn and to not forget the things that you do wrong.
9. What kind of personality do you think you need to trade forex successfully?
My friend use to tell me that you can have all sorts of indicators and signals, one thing is
for sure about FOREX trading it goes up and it goes down. Simple as it sounds; if you
have the patient and have your emotions in check you will be successful in FOREX
trading.
What do you think about forex vs. equities? Have you traded equities? Why do you
trade forex?
I have never traded equities before but if I did FOREX will still choice since it does give
me full control of my trades, wherever I want and whenever I want. In FOREX, you can
always limit your losses.
10. How has trading changed your life?
It changed my life for the better. It thought me a lot politically and economically. It gives
me a new beginning and makes me a new person. I have learned my Economics 101
through trading. It makes me understand and makes me more aware of the political and
economic events all over the world that is affecting our lives every day.
11. What advice would you give to a new trader?
Be patient and stay calm. Invest only the amount you can afford to lose. This way, you
will be able to control your emotions, your attachment to your trades and you can’t be too
scared. Forex Trading is very hard to manipulate but one thing is for certain it goes up
and it goes down; so patient my friend and wait for that perfect time.
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