Dollareuro: The Banker-Turned-Trader

[B]dollareuro[/B]

1. Tell us little bit about yourself. Where are you from? What are your hobbies?

I am from Canada, working for a bank. I love traveling, swimming, cricket and yes, you are right: Trading

###2. When/why did you start trading forex? What resources did you use to learn how to trade (websites, books, apps, mentors, etc.)?

Well, I had interest in foreign trade and worked in this area for my bank. Foreign trade- Foreign Exchange-Forex-Forums-Trader…all these happened within the last two years.

I have also read at the BabyPips school for a while and also went through other reading materials at other forums. Since reading is boring (lol), I used to read forum threads simultaneously to understand what I need to know to be a trader.

###3. What do your friends and family think about you trading currencies?

They were scared at times (when I started trading) but since I do not trade for living and my invested funds are from my extra income (other than my job), I managed to make them understood.

###4. What were your first strategies in forex trading? How are they different from your strategies today?

From the beginning, I wanted to know about Price Action since I got the feelings that it will keep me away from running after the indicators (luckily I do not like indicators).

I used to look for quick profits when I start trading but now my analysis gets me profit (with loses too) within week not in a day. Nowadays one of my main strategy is having wide SL and I consider news as well.

###5. Describe your current daily or weekly trading routine. What do you do before you trade?

I avoid opening of the week. Follow very few pairs and trade them when the setup is there. Nothing special before trade.

###6. What are some of your most unforgettable trades and trading moments?

Losing trades. I was so confident that I did not place any SL and went to sleep. In the next morning I got nothing in my tiny account. Price moved around 1000 pips in the opposite direction overnight for both the trades I kept open!

###7. If you were to give a ribbon to the major central bank that’s winning the “currency war” or the “race to debase,” which central bank would you give it to?

Central Bank of China I think.

###8. Do you believe that a trader needs at least 10,000 hours of trading-related activities in order to be consistently profitable?

More than 500 hours depending on the ability and or luck to find the right strategy that suits a person.

###9. Forex trading is not an easy business. What motivates you to continue trading when in a trading slump?

It gives me a thrill. Let’s have an example, we lose interest on a game when it is easy for us to win. Forex market is a play ground where you can’t guarantee that you will win. This inspires me to stay continuously in the market.

###10. What do you think is the biggest mistake that newbies out there are currently making? Do you have any advice for them?

Placing trades quickly that most newbies do I think. Need to be careful regarding free signals/forecasts. They should analyze the % of time the forecast worked before following blindly.

Any pair should be followed for a while before trading it.

Do not run after too many indicators. Try to learn Price Action.

###BONUS: If you were sent to a small island for three months and you can only pick one person (fictional or non-fictional) to go with you, who would you pick?

My first love whom I wanted to marry.

Let’s all take some time away from the charts and get to know three of the most active, helpful, and awesome guys in our little community.

Meet [B]GRIX FX[/B], [B][B]dollareuro[/B][/B], and [B][B]Trasimaco[/B][/B]!

In their interviews they reveal how they started trading forex, their advice for newbies, their strategies, and who they want to be stuck in a remote island with.

Don’t be shy, say hello!