Millionaire Tradersthe trade. If the trade is still viable, I will stay in it. I don’t have a
problem holding it overnight.
Q: Do you go in all in one shot or do you tend to average in to
get a better price on the move?
A: That to me is absolutely the key to my success. I average in
on every trade I make and I average out whenever I exit. I have
a tendency where, as soon as I buy a currency, it will dip 10 pips.
Before I would get upset, but now I love it because I feel like I can
get in at a better price, so I hope it dips another 10 pips. I know
the price I want, so I will average into that price.
Q: How many times would you average into a trade?
A: Normally four’s about right. If it goes much further than four
average downs, I have to start considering whether this is the right
trade to be in, but 9 times out of 10 that strategy works for me.
Q: You average out as well, right?
A: I most definitely do. I tend to get rid of half of it and then
bring my stop on a quarter of it up to a nice amount of profit, then
bring the stop on the other quarter just to my entry price.
Q: How much leverage do you use?
A: Fifty to 1 or 100 to 1. Just depends on which account I’m
trading in.
Q: Do you care about carry or interest rates? If something has a
high negative interest rate does it matter to you?
A: It does to some degree. I won’t short something that has a
super-high interest rate right before they’re about to do the turn