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| Trade of the Fortnight! Simple Trades that make money |
The GBP/JPY landslide that had to make you $750*! 15 Dec 2009 It is time for the favourite season of the year. Christmas carols ringing in the shopping centers and busy shoppers tugging a long list of presents to buy! Traders are also joining in the festive cheer with the deep, almost erratic (to some) swings. One of these trades was last week’s GBP/JPY short trade that would have netted you a swift $750 by the time you crawled into bed. Now, a few pairs moved on that very same day, however, this one would have given you the greatest confidence and the least stress. For those who missed it, you are probably asking how do I spot such trades in the future?
In trading Forex, we always look for reasons NOT to trade, then when we find one that is perfect, we courageously go for it! If all these processes seem confusing for you, you can now learn it all step-by-step, module-by-module. We offer Singapore’s only 8-week Forex Trading Course with a structured curriculum.No over-inflated promises, no wild claims; only what works and what doesn’t to protect and profit you in the Forex Market. Find out more at any of our FREE 90 min “Forex Trading Essentials” Seminar at a location near you! Click here: www.ForexDrivingSchool.com/seminar/
Important Notes:
© Chart printscreens copyright www.oanda.com. Text and materials copyright FXDS Learning Group Pte. Ltd. Further Legal Disclaimers: We are not financial professionals in the legal terms and the information shared are purely for entertainment or educational purposes. Even financial professionals who present time to time on our stage, do not speak in their professional capacities and do not offer any advice or recommendations directly to any individual. They are merely sharing their experience. We do not advise on any product or plan or system, as every individual has a different risk appetite. We do our best to ensure accuracy but we will not be held liable for any losses incurred either directly or indirectly. If in any doubt for the suitability of any exhibited system please consult your professional financial advisor.
Forex Driving School - Trade of the Fortnight - December 2009 |
Tuesday, December 22, 2009
[Trade of the Fortnight] The GBP/JPY landslide that had to make you $750*! - 15 Dec 2009
Tuesday, October 27, 2009
Thursday, October 15, 2009
The Tricky Realm of Commentaries
"The Pound Sterling continued its recent climb higher against the U.S. dollar as the main catalyst for the move was better than forecast U.K employment data with the number of people seeking work in the three months through to August,"
- Travelex Singapore Commentary - 15th October 2009
In the midst of any weak trend, you typically would see statements like these that seem to buck the trend. The [GBP] "continued its recent climb higher", which makes new traders think that we are in a RALLY! (i.e., climb and continue).
However, the analyst could simply mean that from a 5-min chart point of view, it is a rally, but from a long term picture it is not.
Here's an example:
1) It has to show that it is not merely ranging at the Fib 61.8%
2) Definitive break of next Moving Average.
Tiny, Critical Point
Yet, a new trader who reads this would not be able to differentiate this tiny but critical point.
The new trader will then start to trade LONG GBP in the midst of a clear GBP weakness theme (till otherwise).
There is no way the GBP can go into a powerful strength position now, without at least a sideways, unless it is USD MAJOR Sell-off. (see, trading is all in the details!)
Your trading success depends on understanding all the small differences, and for that you need a proper education that is built from ground-up.
Find out more at a preview near you today: www.forexdrivingschool.com/preview
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Thursday, September 24, 2009
When do I take Profit in my Trade?
One of the key challenges new traders face when they get a great trade is:
"HOW LONG DO I KEEP MY TRADE???"
The natural instinct is to grab the few dollars and run, because we are always hard-wired to survive. The other less natural, but prevalent opposite is to let it run forevveeerrrrrrrr.....
Now, in our advance segment (not that we charge you extra! ;) it's all-in-the-cost), you learn about using 3 day pivot points.
These two examples are reflections of the same market move - the GBP Sell off.
Now, when it hit that key RED LINE. That is the point we take our profits and GO! Simply because it is also the same GREY LEVEL for both our pairs.
I personally think that the market would move about 30% more in a jagged fashion (that's for another class), but I would still take it once it hits that GREY LEVEL.
Why?
It is the EASIEST phase of the money to make.
Always go for the easy bits, and enjoy the rest of your time!
P.s.: If it is in free-fall in between, you should never take out the trade! It is supposed to run!
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Coming UP!!
Our 3 Day Pivot Point System will be up on sale, together with MT4 coding at a ridiculously low price. Its almost just like charging you for labour only!
I don't know how long it would be on offer, but WATCH for this space, and grab it while it lasts!
* It is suitable only for people with some trading experience.
* Learn where to place your stops
* Identify dead zones
* Mark out best value returns
* Warning signs to stop you from entering trades
Be Warned! - This is a sports car, i.e. you need to have basic trading education, but this is your SUPER racing tyres. It gets you anywhere faster, sharper and safer!
Jointly developed with one of our fantastic grad!
Look out for it!
Tuesday, September 15, 2009
Of Micros & Nanos - Best Brokers to Start With
In these recent 12 months, many brokers are now jumping on the bandwagon to allow smaller volume transaction units.
I think this is a fantastic move, because it allows new traders to get live as soon as possible without risking too much capital.
The concept has all awhile been very simple to me, yet I believe brokers do not bother to give you small units because it encourages lower volume (i.e. lower revenue). However, market tide has changed, and they are forced to listen to the consumer.
Here's a list of the best places to start an account with!
Oanda.com - Our recommended broker. Unbeatable "buy-as-you-wish"
City Index Asia - Local Singapore broker, minimum Volume is 1000 units. Currently, the lowest in Singapore, with no-strings attached. We have a referral structure with them. Sign up through us, and you pay exactly the same rates etc, but we'll accumulate your rebates and work out a loyalty reward for you. Contact us at ask@forexdrivingschool.com
New Entrants (In last 12 months)
IBFX.com - Use the nano-lots (or super micro, i can't remember the name). It is 100 units per transaction minimum.
FXCM.com - They now have a micro-account, which they are aggressively marketing.
Note: I know there are some small brokers that also offer micro-units. I rather you sign up with one of these large brokers listed above. The benefits are endlessly more.
Enjoy your trading! Always start small, because it feels different when trading with different sums of money.
Cheers,
W
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Forex Driving School - Singapore's most structured Forex Education centre. Read our tons of testimonials to find out more. Whether you are a beginner or a pro, you will have a shift in your education, or your money back!
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Saturday, August 15, 2009
Why you should run far far away when you see “make money like clockwork” or “no trading knowledge required”!
Why you should run far far away when you see “make money like clockwork” or “no trading knowledge required”!
With the thousands of people that we meet at previews, I frequently get forwarded emails or pamphlets that say “make money like clockwork while you sleep”, or use my trading system and “no trading knowledge required” to make $1,000 to $300,000.
In the beginning, I would make the effort to write long replies that included all the statistics and probability ratios of why it would be impossible for anyone to consistently make money without any effort or knowledge. In fact, there has been no one in history who has, except for the guys selling these “clockwork” systems.
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Now, I’ve a much quicker answer
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Imagine this, it costs me USD$195 (or whatever the price is) to buy/ subscribe the software and $1,000 to start the account.
Why don’t I (or a bank or financial company) just take out $10,195 and immediately, while I am sleeping; I would have made $3 million dollars!
That’s a WAY better deal than any property/investment deal I know of.
Then I spend 1 more month, take that $3 million dollars and put into the system and make$300 million! Yes, I would be worth about 1 public-listed company.
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Which part of your soul believes that the lazy get rich?
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Despite the fact that there is more written proof of men going to the Moon, than there are of people who consistently make money like “clock-work” without knowing anything about trading markets; you will still get people who sell these mirages.
Because greed and the temptation of lazy riches is in human nature.
That is why Warren Buffet says it best: “to make money from the markets; master your emotions first.”
He should know, he’s been doing it for a lifetime, and pretty darn good.
Wednesday, August 5, 2009
Simple Stock Market Tips for August 09!
5 August 2009
The S & P 500 chart and the Dow Jones Industrials is showing a nice recovery channel (though pessimists would call it an ascending wedge) on the bigger picture charts.This effectively is good news for any one wanting to buy stocks.
Does this mean that it will not drop down again. Definitely not. - A near term correction would be expected and not surprising, however, a total free-fall from this point is quite impossible. So, if you can afford to buy quality and hold, it is really quite hard to go wrong.
- Some might find this a high point to buy right now, and prefer a correction to the base support line.
- Will that correction lead to fear-selling? Who knows?
- Forget the short-term, instead, use this time to search for diversified companies that are cheap and start loading up on them!
Note to Forex
Your Stock Market and Eur/usd has started to decouple in the recent week. This is exactly the concept that we talk about as "seasonal co-relations". Many newbies come knocking on our doors, asking for a quick fix co-relation short-cut. There is no such thing.
You must be able to see the co-relations happen and when it ends!
Tuesday, July 28, 2009
Book Snippets:Reflections on the journey to trading
As I'm rushing to do up my manuscript for the publishers, I wrote this line which resonates very deeply in my journey to trading.
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The market goes where it wants to go, regardless of how you feel. Most of us CAN see where the market wants to go, right until our ego steps in, and distorts what we see.
"Your journey to trading success takes as long as it takes to overcome your personal stubborness and ego."
The market goes where it wants to go, regardless of how you feel. Most of us CAN see where the market wants to go, right until our ego steps in, and distorts what we see.
Every time we allow ourselves to be humbled, we are one-step closer to success. Every mistake we acknowledge, we are one step closer.
Every time we want to find a way to out-smart the market, we are making our lives one step more difficult. Every time, we want to tell the market when or how to move, we are making our lives one more step more difficult.
A person once said to me: "Winston, I know the mistakes I am going to make even before entering the trade, yet I enter it."
Me: "Great, as long as you keep on losing in this manner, and getting angry with yourself. And don't give up on trading/ or don't become a bankrupt. .. ONE day, you WILL wake up and say: This fighting is stupid... And you will make money happily and effortlessly"..
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If you like what you've read, you've to buy our book. Coming out in December.
In a short while, we are going to have a pre-sales list, where you book, and you will get an unbelieve-able special and perks!
Do keep a look out for it.
Till then, Trade with clarity!
Trading *almost* at the Roof Top of Asia
Sawadee Krup,
Hello! Its fun to be trading *almost* at the Roof top of Asia (read more here: http://winstonng.posterous.com/drinking-on-the-rooftop-of-asia), so thought I would drop you a photo of lazy me in the room.
why *almost*? ..'coz we're on the 57th floor, 2 floors below the roof top of asia.. hahah.
Happy trading.
Its nice and good with EUR/USD nicely ranging for some great trades the past few days and today.
Plus, re-loaded on Citi off a support line yesterday (see the proper education you learn in FXDS works everywhere!), with a nice 7% up already. This is from my small rocket portfolio, looking at huge long-term gains, so this little up is meaningless though fun!
have a great night!
cheers,
winston
Friday, July 24, 2009
Wednesday, July 22, 2009
Investing for a Better world!
Investing for a better world.
Using forex to create good! - http://www.kiva.org/community/viewTeamLoans/?team_id=4894
Tuesday, July 21, 2009
FiFo & YOU!
In our recent sunday preview, we had a flurry of questions on FIFO (and the evil rumours going around that NFA is ceasing stop-orders etc).
In my search online, there are many "influential" sites, claiming that you can do trail stops and all. It took me some time to get to the bottom of things, but I've found the one best answer for you!
In Summary: OANDA has been holding themselves up to world-class standards, such that "upgrades" in legislations, do not affect them, since they have already been doing it all awhile! No changes to the way we trade!
Once again, we are happy to announce that we've been recommending the best broker to you!
I use them, and you should use them too.
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Also, did we tell you that we are one of the few schools who do not take an commissions from our brokers? So, we don't encourage you to trade -for-the-sake-of-my commissions. Trade only when needed.
If the above makes no sense to you, do come down for a FREE 90 min Forex Trading Essentials Seminar - www.ForexDrivingSchool.com
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Happy Trading!
Winston
Friday, July 17, 2009
Using Article Commentaries Effectively & Quickly!
EUR JPY Chart.pdf (83 KB)
View this on posterous
I received a really nice email today from one of our clients.Nice, because she is hard at work practicing, on her way to Forex Mastery. You would find her qn, and the answer very beneficial, if you are still trudging through your news pages.Cheers,Winston
====Hi xx, the highlighted line in yellow, would be the one you want to look for.Basically, to find a line (statement) that would be useful where you can take action on.! Cheers,WinstonOn Fri, Jul 17, 2009 at 12:46 PM, xx wrote:
Hi Winston I was reading this article on SAXO bank sent to me 2 days ago. It seems to be a very good information for trading. I am really eager to understand but I just can't get it. Could you highlight the key words I should always look out for to understand next time when I see article like this pls.? Thanksxx
Tuesday, July 14, 2009
A Bullish Logic!
I got this free gift after buying a wonder/ micro-fibre mop for the office! (You'll see it in another picture!)
I've seen this toy being sold round every street corner in Sim Lim Square and Bugis; it claims to be cutting-edge sensor technology.
.. But its only a couple of bucks! ... unless they stole the technology!... but even then??
So, I decided to investigate!
Video 1) The hypothesis: Is it sensor technology to identify the walls and reverse from it?
Video 2) The answer!!! It is simple china-ish ingenuity! ... (Hint: notice how the spin slows down when the objects vibration state is affected.)
What has this bull got to do with trading?
How many times do we think that success in trading, must be some big secret algorithm that I have to chase?
How many times have we been lazy to do the simple things in trading, thinking that it wont make the difference?
Simple technology well mastered, can bring out an amazing outcome!
Enjoy!
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Watch on posterous
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