Millionaire Tradersa lot that I don’t trade because I just simply can’t keep track of
everything. Occasionally I will trade the British pound/U.S. dollar,
but not often. As for the commodity currencies [the Australian
dollar (AUD), the New Zealand dollar (NZD) and Canadian dollar
(CAD)], there are too many factors that impact them, especially
New Zealand, which has a very tiny population. This can make the
economy very volatile.
Q: Do you have only one position on at a time, or will you trade
euro/U.S. dollar and U.S. dollar/Japanese yen or just U.S. dollar/
Japanese yen by itself, one at a time?
A: I will trade more than one currency pair at a time.
Q: What is the longest timeframe you’ve held a trade?
A: Eight months.
Q: Shortest?
A: Two or three minutes.
Q: How often do you check the price of the currency when you
are in a position?
A: It really depends on the day, because there are certain days
that I don’t look at the computer or price action whatsoever and
those are the best days. But then there are other days where I’ll
look at the computer and markets four to six times a day. I can be
at my computer for two hours straight or for five minutes, it really
depends. On average though, like I mentioned earlier, I spend four
hours per day from Monday through Friday looking and checking