Millionaire Traderssix, seven hours for this to happen. So it was a burn on everyone. I
kind of walked in five minutes before, made 200 pips. I was done.
We went and had breakfast and just had fun the rest of the day. I
was in New York when that happened, so it was kind of cool. That
was the most memorable trade. But really, the best trades for me
are when I just do everything right for the day. Whether I made 15
pips, 12 pips, 8 pips that day, 20 pips everything works the way it
was supposed to. Even if I’m down one day, but I took my stops, I
know that was a good, day, too. The best days are when everything
goes well according to your plan.
Q : The question everybody hates but everybody must
answer—the worse trade you’ve ever been in?
A: The worst trade I remember, too. I was long the dollar and the
euro/dollar was strengthening. I couldn’t close the position out. At
one time it was only down 22 pips, which for me is nothing. You
close and you trade the next day you make that back. But I couldn’t
close it, it was just mental block and it ended up going higher. I
had to close it at minus another 100 pips. It was just a weird thing
when I was a younger trader, I just couldn’t get out of this one
position. It haunts me in a good way to this day because now when
I think of that 22 pips—maybe that’s why I get nervous when it
gets around 20 pips—I just close the trade.
Q: It created a sensory memory in your brain. Final question:
You bring a couple of very interesting attributes to the game. You
clearly have a highly quantitative mind and a very, very rigorous
mathematical education. But also an education in psychology, and
many people will argue that markets are not logical, they’re psy-
chological. So we are wondering if your education and background
in psychology had any value, if it offered you any additional insights
that you may want to share with us about the market?
A: It has I think because I understand how the mind works and
the way it processes information. Then I could use that information
to adjust and adapt myself as a trader.