Millionaire TradersQ: Do you care about correlation between the two pairs? For
example, the British pound/Japanese yen and euro/Japanese yen
pairs which may be very strongly correlated.
A: In general I’ll trade pairs that aren’t very correlated. Like I
said, I do trade the British pound/U.S. dollar or euro/U.S. dollar
quite often. That’s the normal one. Then if there’s not a lot of
action there and there’s more news coming out in the commodity
currencies, I’ll go over there and trade it because often times they’ll
move when the majors don’t.
Q: What do you find is the most interesting thing about trading?
A: Just that basically you can dictate when you decide to trade
and work. Some people don’t want to wake up at 2 o’clock in the
morning and trade, some people love to. I mean, I can’t think of
anything I’d rather be doing from 2 to 5 o’clock in the morning.
Everybody else is asleep. I’m up making these great trades. It’s
a fantastic market. It can be very exciting. I try not to get too
emotional one way or the other. But you do get excited, especially
when you trade well. It’s very rewarding at the end of the day.
There’s a statement telling you whether you did or did not do
good. Whereas at a normal job, you’re told if you did a good job or
not and it’s not based on the numbers you produced.
Q: Yes, it’s very tangible. So what was your best trade ever? Most
memorable?
A: The most memorable was definitely the one we discussed
because I was in an Internet cafe and I was kind of nervous, hoping ́
that the connection doesn’t drop in this place. I’d actually gone
all around Bangkok testing connections to see which ones were
strongest and which cafes were quiet. So finally I found one I ́
liked, found an end computer, and when the NFP number came
out, I just jumped all over it. It was exactly what I was expecting
and key levels were broken. It’s been a while, so I don’t remember