The News Junkiebecause it will cost me a ton of interest. However don’t worry about
it too much. I mean, I bought the British pound against the yen a
while back and enjoyed getting that interest. But to me the market
moves so quickly that it ends up meaning very little to me.
Q: Are there certain currencies that you might avoid trading?
A: I avoid the British pound/Japanese yen now. I don’t know why
I wanted to trade it that day. I have to be careful to pull myself
away from those because they look very interesting sometimes.
Q: What about currencies that are your favorite?
A: Oh, I love to trade the New Zealand dollar, that one has a
personality of its own. So I can trade maybe euro/U.S. dollar and
it’s not really acting right, it’s not doing what I want it do and I can
take my mind off that trade. Go over and trade “Kiwi” and it’s just
a different animal. I enjoy trading that.
Q: What type of timeframe charts do you like to look at?
A: It obviously depends on the trade. But right before a news
release, I normally like to look at a five-minute chart and see what
ranges we have been trading in. Where are people’s stops at?
Where am I looking for this market to go? Where do I want to get
out if I get into trouble? So normally the five-minute is the one I
like to look at.
Q: It sounds like you talk a lot about news. Do you feel like
you’re usually positioning for news or reacting to it?
A: Normally I position after the news. I tend to go for the meat of
the move, I don’t care about the beginning and I don’t care about
end. I tried to catch the beginning of a move quite a few times and
ended up with a losing trade. Nowadays, I let the news come out.