Interview with FXCM's February 2011 King of the Micro contest winner: Mr. Tommaso Battista from Italy with an amazing 693.44% gain on his micro trading account.
How long have you been trading?
Almost 4 years.
How did you start trading forex?
I start with buying and selling stocks with the advices of rating agency and big bank, than, thanks to internet i started my knowledge about technical analysis and i tried a different approach to trading ever on stocks, than i discovered the most technical market in the world: The forex market.
What are your favorite sources for news and/or your favorite technical indicators?
I don’t care about news releases. I stay away from placing trades during ECB press conference and NFP releases. My favorite technical indicators are trend lines and moving averages, nothing else.
What currency pair do you prefer to trade?
My favorite pair is EUR/USD, but for medium term i love trading eur/chf.
How long do you typically hold your trades?
I hold my trades with a minimum of 2-3 hours to 2-3 days.
How much time do you spend trading every day?
I spend at least 3-4 hours every day, for “enter in the market sentiment”.
What was your most successful or memorable trade, and what was your most unsuccessful trade?
My most successful trade was on 19 may of this year trading the swiss franc, applying a breakout strategy and thanks to SNB i’ve made 150 pips in a few minutes!
My most unsuccessful trade was on italian stocks during Lehman brothers crisis where i was long on italian banks.
What do you think your greatest weakness is as a trader?
After a big loss i ever try to recover the loss with other bad trades.
What one thing did you do or learn that pushed you over the top?
Follow the trend
What kind of personality do you think you need to trade forex successfully?
You have to be cold as ice.
What do you think about forex vs. equities? Have you traded equities? Why do you trade forex?
I have answered to this question on point 2, equities are for investment, not for making money from capital gains. Forex is much more technical.
How has trading changed your life?
It allows me to spend more time for myself and my friends.
What advice would you give to a new trader? Plan your trade and trade your plan.