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.)?
[I]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. [/I]
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?
[I]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. [/I]
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?
[I]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.[/I]
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.