My Trading Life

how long do you spend trading each day?

30 mins ~ 1 hour max ?

Subscribed!

Thanks

What do you do for the rest of the time? Wont you be bored? I cant keep myself out of the chart if I am free. That is not good!

Thats why I said , find other business projects or christian projects.

If you can't keep yourself out of charts means you do have little trust in your setups and how much market will run. A 4hr , day or weekly will continue in motion unless something drastic happens.

Move on 4 hour charts minimum 16 to 24 hours and sometimes more. During that time, you can find other things to do.

Day charts 3 to 6days minimum

Week 3 to 6 weeks

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Unless you are the kind when 你看到美女 你忍不住 (see beauty can't control oneself)

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Anyway you will find that highest form of leverage is market work to make you rich. Not 500:1 1000:1 but the leverage of time and market forces in trends. Not you work hard to make market rich. You don't have to be in all the time.

A worker believes he has to work harder to get more money. A businessman believes his business will work hard to pay him money.

Honestly now if you give me a prop fund of a few million dollars and i need to take 1 pip 2 pip 3 pips , I will reject the offer.

How rich can you be if you trade billions but your life is plastered to the screen..........

Trading is just another method to earn revenue. All revenue but no life is also pointless. And how you make the money in the process is also affects how enjoyable your life is.

subscribed.. i never take these indicators seriously .. i am keen to learn how its behaves.
i also moving within triangle Singapore, Hong Kong & China.

It always helps to have started the day with a better breakfast

Cool look me up when you are in Hong Kong. I am rented a space in Citicorp , tin hau near causeway bay. There is lots of nice food at causeway bay.

Alternatively, when I go back to Singapore every 3 ~ 6 months. We can also meet up and enjoy BBQ chicken wings , sting ray , otak , satay , hokkien mee and fried oyster

My Theme Biases or possible scenarios for the upcoming weeks.

AUDNZD Down
AUDJPY Down
EURCAD Down
NZDJPY UP

This is not absolute and in no way precise. Will not accept any responsibility for subscribers losses.

hey man ! nice to see fellow Singaporean. Do you mind sharing with us your story on how you started, how much your started with etc.
Im trading part time right now after office work and intend to go full time in the future

Hi MarkChew,

I have attached the two charts I was talking about.


Regards

Dennis

Hi Dennis ,

If you add the 3 , 8 ema . You will find that you got in at a pretty bad time.
If I was doing daily charts like you , I will use the 100 200 as overall biasness and a 3, 8 cross over as entry.

Also 3,8 ema on daily / 4hr usually indicates the daily directional bias for me. For your case, if you wanted to have longed it should have been at pretty much early time.

of cos these views will be argued on hindsight but for me i use the 3,8 , 30 , 60 emas more often. 100 , 200 is abit too far off for me.

3,8 on the 4 hour is don't try to go against it for the intraday.

30, 60 on the 4 hour is more like don't go against it for the intraweek.

hi MarkChew,

Thanks for the reply...I use 100 and 200ema for overall trend and also for S&R...I will try and implement the 3 and 8 ema on my daily charts with the stochastic indicator.

Regards

Dennis

I started off with stocks not knowing anything except putting in my money and if it moved 10% i would get out. (Typical Aunty style of investing). That was 2006 in my exchange program in HKU and that period it was quite bull , so any idiot could make money in stock market. Then I kept reading rumors that it will come down and market will crash. So I thought to myself why not I go learn warrants as I could play it both sides.

During my period of warrants , I lost quite a fair bit as I focused on learning how to read too much on the product mechanism rather than how to read whats on the plate. Warrants was also tricky as there was the alpha, beta, omega, gearing and so forth along with the implied volatility , market maker disappearance, decay rates..... blah blah .... It wasn't pretty.

Then I ask myself why don't I find an easier product. All i want is a product that goes up and goes down. Make things simple and thats how I found forex.

In forex, I channelled my energies into brushing up my TA skills rather than learning about the products. So at least now i know if I see soup on the table I will not use the fork.

My forex journey took a couple of years as your bmt or 'lost years' will usually be any where from 1-5 years. I have met people who claim to trade 10 years but still lost in the jungle. Its what you do and achieve in those training years not amount of time.

When you are training in forex , best to play a few hundred dollars.

You start off with finding a system that suits you. People usually claim that the found the holy grail blah blah thru their years of research but usually you are just figuring out which one of the 3,4,5 basic money making methods that suit you. How different can the market run? Its up ,down, sideways. But it always end up so complicated.


Be able to double your money with reasonable risk management say a few times. Build your confidence at that stage. I assume that most traders are typically male and when you have profits at this stage best to withdraw it and bribe your significant other if you want world peace and full support. I have heard countless of stories GF gives up on BF because of his 'gambling addiction'. Your significant other usually doesn't understand the graph game that you are playing. They only understand the dresses and bags you buy for them. The world is realistic even with those who are supposedly in love with you. To get full support and prevent breakups and not cry that you are a loser, you need to resort to bribery.

Once you are more confident then increase your lot sizes.

Typically if you want to feed yourself full time, some claim that they can do it with a few thousands and make a few hundred or thousand percent. I do have a friend in hk that uses 3k to turn it into 18k in 3 weeks. Overall year end he ended with '100k bonus year end' apart from his professional job. However do note that we grad about same time, we had a same number of years of experience but during this period he worked as professional trader / analyst for financial firms. Not every one will blow up their account in a positive way. Most of the time, they will blow down their accounts.

For me I don't have that high roi performance and I don't want to end up as Singapore / Hong Kong Last Hero, so my higher capital allows me to play anywhere from 5 lots to 20 lots per trade depending on TimeFrame.

Most importantly , I need to pay my marriage love tax or monthly protection money to my mother in law , so the trading style that I pick now has to be more stable and help me alleviate any potential domestic violent disputes.

That looks amazing....im jealous!

Man your right on "people who claim to trade 10 years but still lost in the jungle. Its what you do and achieve in those training years not amount of time."
I started demoing when I was posted to unit after bmt and that was in late 2012. Started small acct in live in 2013 and busted that acct despite high win ratio (refuse to take loss until margin call LOL) Learnt my lesson and started another small acct and so far so good. I have to say I learnt the most only in recent months despite starting in 2012.

Well im currently single so dont have to worry about the gf part ... LOL

Wow your trading 5-20 lots so your capital must be pretty huge. I do have a question though, if lets say in the future we managed to trade the account into a huge sum of money do we need to change a broker to a place more reputable such as banks ? or we can continue to trade in peace with a market maker so long it is regulated by MAS. Im just afraid in case they will play pattern when we are withdrawing large amount of money.

Appreciate your experience and sharing so far. Thanks in advance