Forex newbies - all will lose!

Yes....same thing, didn't trade much since I pay more attention to the stocks. At the same time....was told by a pro-trader that all newbies forex traders.....lose! 100% will lose money at a regular pace for most of their trades in the first year. And if still in the forex market in the 2nd year....then, the chances of ever making money would increased by 50% ( meaning 50/50 chance of making some money ) in all trades but must still have to trade constantly all the time ( meaning making inter-day trades, 3hrs trades and also the basic core trades - in a daily/weekly basis ).

If still....can last to 3rd year only then, the odd will be better when trade. At the same time....have to pay full attention and be very focus. Easier if just focus on one pair to trade, that way....the gut feel will come faster and easier too.

Stock market - correction time

Too bad that this is the start of the correction. In fact....I was right all along regarding this correction ( see my 2010 market outlook written near end of Dec 2009 ) but whenever I attended the mentor's session, it is usually packed with all sort of people....eg uncles, aunties, now even young men and women too. All are just too eager to learn from the mentors to make easy money. And I too was got "caught up" by the "talks of good bullish time ahead" that I also forgot about my own market's outlook for 2010. This thing is the so-called "gut feel" which is from years of getting burnt in the stock market - experience. Yes....after more than 20+ years, I should know better!

Lucky thing was that I am more willing to accept small losses and cut losses early. Now with the Friday's US close....I expect the market here and in HK will continue to drop on Monday. Hopefully can rebound by Wednesday or Thursday....when all the "lau sai" is done! Even so....I may continue to monitor the market first.

Stock Market - Correction Week

Wah rao....look like it's market's correction week for almost all markets. Here is the same thing. Things started reasonably well for the better part of the week here then by Wednesday with China and HK markets in deep shit, the market here also followed.

On Thursday....things just got worst. Unless...one "short sell", every trader would be down in this type of market. For those....in HK market, then most likely to be "hit hard" by the correction.

Genting...having their opening on Wednesday also kena "sold down" from $1.32 till now $1.22. Only some "shit penny stocks" shot up nicely....won't end long in this type of market