Weekend again - my view of forex trading.

Aiyo...time flys and I really have enough time to really slow down and enjoy myself lately as I was busy trying out my trade plans for my forex trading and at the same time trying to iron-out the rough edges if any.

So far for my forex trading is going as per plan and I am never happier than now about me able to master it. I have done trading for stocks and forex but now...I
firmly believed that forex is for me. Stocks....is more for the big boys with deep pockets while for forex, it is easier for the pocket. You can start with whatever capital and trade with whatever risk size you can handle.

For newbies....like myself, I remember I start with 50 cts per trade max. Meaning if my trade failed, the most I lose is 50 cts. The reason for it was that in any trading, the newbies will have to go thru the learning curve and usually lose money 95% of the time. I have gone thru that....and after 8 months of losing, I was about to give up....I found a method that can give me a better chance of winning. Having work on it....for the past 2 weeks, I am further testing with new ways of improving it.

Initially my wins were due to gut feel....now I want it to be more sure, and with more trades I am now more confident that I can win 95% of the time whenever I trade as opposed to all my trades before. One of the changes is that I don't want to worry about placing my "stop-loss" further just in case I was wrong with the trade. Then....my first trade order is small which I take as a guide for further trades for the same currency pair. If it didn't work out and show a negative result....I will follow-up with a bigger trade ( usually double the units as the 1st trade ) and if that also failed....I will fire-up another even bigger order ( double the number of units as compared to my 2nd trade ). I have never experience any failure yet for my third trade once it is placed. Usually if it comes to this....it would have bounced back within minutes. This is the reason how I managed to triple my fund in just less than 10 days of trading.

Now...I am trying my idea on my wife with her doing the trading using my method. I will let her try for the next 2 months. I noticed she is not too sure about the trading platform from Onoda. Btw this is just her 2nd day of her trial....and I was instructing her via the phone and not face-to-face. I am sure if I will be personally teach her face-to-face and show her what my plan was, she would catch up quicker. Why??? I want to test whether can I show someone totally "new" how to execute a trade and still can make money. And at the same time....grow her confidence about the whole idea of forex trading. No need to go thru all the stuffs that I went thru with course which took me a full 8 weeks ( once a week = therefore 8 sessions of 3 hrs each time ) then followed by real live trading. Btw I end-up more confused and end-up losing money in my trading. I tried this and that...but in the end, still losing money. I also started to lose confidence about even wanting to trigger a trade.

My method....is aim at cutting the learning curve and straight to making money whenever a trade is triggered. This is what...will boast the confident level of a newbie that forex trading is that easy and at the same time.....profitable therefore fun. Then....to add other important points to the learning eg positioning of lot size ( already tried hands-on during the trading - adding of positions and the size of the orders ), the importance of putting of "stop-loss" and how much to risk per trade, the POWER and the skill of charting and how to read it. The whole idea is to build-up a winning mentality at the beginning to motivate more learning.

I remembered my time with courses which I feel is a waste of time and money ( 3K+ ) and in the end....I am confused and depressed with the trades ( losing 95% of the time ). Until to the extent that whenever I triggered a trade in the class I am willing to bet with the rest of the students that it would end-up kena "stopped out" and true enough....it happened most of the time esp the "intra-day and 3 hrs trades".

I asked the trainers to how to execute a winning trade and what was the trick to do it. The answer....do a core trade and slowing see it grow that is if all the charting and entry is "RIGHT". For intra and 3 hrs trade....set a tight stop-loss before triggering a trade. But now I realised that was the main reason why my trades usually end-up kena "stopped out". Yes...the trainers are super nice people but they cannot ensured you made money whenever you trade, and since you have already paid for the course....we end-up "LL" lan-lan and keep quiet. Same for the courses I attended for stock trading....confirmed sure make money and so on if follow rules but I end up losing bleeding slowly to death and to more depressions. They forget to mention that their methods may not be of use during certain time eg when the share prices have already gone up to their peak. Now I also realised that their method of momentum trading in stocks is useful when the market has "tanked" and rebouncing from the bottom or buying a "slow" up-trending stock. For the normal market...if the stocks are choppy, sure kena "stopped out" too.

The name of the company....offering the forex and stock trading classes/courses is left out. To me....these people are super smart becoz they know trading would be too hard to make money than teaching people esp the "blur and greedy" ones like myself.
In total....spent over 3K+ each to attend their course and still end-up losing another huge bunch of cash. SAD...sighed!

Once my experience works....meaning I can made at least 5 times my fund at end of one month using my method....plus if my wife can also use the idea and made money 95% of the time then I will get more scrap-goats for trials eg my eldest daughter and her bf, then my close friends and so on.

To me, forex...no one can really "corner" the market therefore no risk to show more people to earn a passive income. And once one can mastered the concept....I believed it is life long skill to earn money. The only fear is "GREED" therefore unnecessary risks. If one is willing to go "slow and steady" and is happy to have some spare change to spend every time then he/she will do well knowing this trick. They must only trigger a trade when the price action is within the trading set-up then the chance of making money is good...if not great! A sure thing!

The greatest challenge for me is to teach those who have totally no idea about using a pc or lap-top. And if I can do that...and they can make money then I will say I am a successful trader and trainer. Hope I can last that long....and out-last teaching and showing these aunties/uncles how to make the pips.....and not "mati" from coughing blood first haha.