Rags to Richeswould come back and realized that I missed the signals. What I find
the most exciting to me now is the development of systems, getting
them to work, and helping other people become successful.
Q: Do you ever have a problem keeping yourself out of trades?
For example if you are trading the British pound and then all of
a sudden, the Japanese yen has really big movements, do you feel
the urge to participate?
A: No. I have studied the euro / U.S. dollar and British pound /
U.S. dollar in particular, and developed strategies for trading these
specifically. I believe that every currency pair is unique So I stick
to what I know best and have no regrets if I have missed a big
move on another pair. To me the bottom line is that I am making
money, irrespective of whether it is in the Canadian dollar or the
euro or the British pound or silver or gold. It doesn’t matter to
me where the money is coming from. That is the important thing,
and I’m quite happy with the British pound, and I obviously now
trade silver as well. To me it all comes back to discipline. When I
first started in the market, I would hop in just for the sake of being
in the market. If I was bored of waiting, for example, I’ll see the
signal in the yen, and even though I do not really trade the yen, I’ll
enter simply because I wanted to be in the market. Then I would
lose. And, after having lost a couple of trades, I learned discipline.
I’d rather just stay out, because it would take two winning trades
to make up a losing one, and I cannot stand losing. I look at it this
way, by staying out of the market at the right time, to me that was
actually a winning trade.
Q: How is trading currencies different from trading silver?
A: Well the primary difference is that silver moves very, very
slowly. You need a tremendous amount of patience, because silver
might only move 4 or 5 pips in two or three hours, but each point
is worth a lot more money. I am earning$50 for every pip that’s it
moving. So, even though it’s only moved five pips, in the last three