Monday, May 18, 2009

Millionaire Traders Part 10 - Ashkan Bolour

Ashkan Bolour has both strong quantitative skills and a deep background in psychology that he use in forex trading. He compares trading to the ocean - calm one day, turbulent the next - and counsels traders to take it all in stride.

Some good advised from him are :

"Reversal only happens once, but the continuation's happening all the time until the moment the reversals is hit."

"Trading is very demanding. It will take a physical toll on you. What I like to do is trade for a couple of weeks, make a good amount of money, and then just go on a trip."

"Although when I'm not trading I like to watch news and kind of absorb it."

"Even though you're away from the market, there are always things to do that can help you become a better trader. I get caught up on my candlestick reading."

"Yeah take it very seriously because, if you do, that's when you'll reap the benefits, I think. But if you don't, you'll always see the potential, but you'll never reach it. I think a lot of people see the potential but they never take it to that nest level."

So what happens when he has two losing trade in a row? Just stop trading and come back the next day.

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