Millionaire TradersQ: It sounds like you are more of a fundamental trader then,
right?
A: Yes.
Q: How long would you usually hold your positions for?
A: That is a very interesting question because it’s really been
changing. At the very beginning I’d hold positions for a long time,
but things in Forex change so in reality I don’t set trades with
specific time limits in mind or timeframes in mind. Instead, I
simply just look to make money on the trades.
Q: If you don’t have a time, do you have like a weekly or monthly
dollar profit target that you’re looking for?
A: Yes, I do have a goal when I trade Forex. I look to make 20
percent on returns. But I do it in such a manner that the risk is
minimized—so 20 percent, but with low risk. I don’t gamble. I
don’t play the lottery. I come to Forex to make money and don’t
look at it like a bet.
Q: What is your general risk or loss limit?
A: I don’t lose. In terms of stocks, you know you exit positions
because there’s a risk of loss, but in the Forex markets I don’t lose.
If one is attentive and very balanced, you can expect returns. I’m
not interested in what I can make in a day or if I make explosive
profits in a very short amount of time, that’s not enough. It has to
be consistent profitability over the long run or the course of the
year that I make my profits. I have a strategy that I look to make
20 percent per year with very little risk. Once I have made that
20, that’s what I take out. The only real time that I get out of my
trade is when there’s a factor, a variable in the market or something