Where to learn to trade??
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Nope you are wrong.
I am not soliciting for investors and asking people to pump money into any fund of any sort. please do not misunderstand.
I am well aware of the law and i have no intention of getting investors here or anywhere else.
what i invest is my own money. i not trying to catch fish for ppl
but i am suggesting people learn to catch their own fish through proper channels instead of relying on robots for trading.
discover something useful that can really help you to make money on forex.
don't listen to people who tell you they have 7 secrets to forex trading or how to make $1000 in $1 million or "why i quit my 10k/month job to trade forex"
like i said there is more to trading than just indicators and systems. it if were that simple everyone would be rich. and this is where a lot of people new to the market gets burned.
A lot of people come in thinking that they going to beat the market by understanding all these technical indicators and fundamental analysis. They have a fantasy that they would be on top of the market making millions and a lucky winning streak would lead them to a down fall.
The fact is that you cannot beat the market. the market is SETUP FOR YOU TO LOSE MONEY. this is a simple fact you must truly understand. it is not a zero sum game. it is a minus sum game.
last but not least. understand everybody's interest in the market.
ur broker makes money when you trade so its in their interest that you trade as often as possible. the question you should really ask is that if this is truly beneficial to you?
there are lots of tricks up the brokers sleeves better to know some of them =)
of course you can also consider my interest. I am definitely not neutral no doubt about it and i advocate for trend trading instead of day trading. because we believe that a lot of people have been for the longest time teaching people what we consider to be wrong. they focus on series of complicated indicators to confuse their students and introduce robots or even scalping for 10 pips on minute charts.
we definitely do not believe in these methods, what we can share we tell you and is skewed to our perspective. it is up to you to analyze and decide if trend trading is the right method
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Kindly share with us who your mentor is.However if he/she do charge us for "trend" forex education, no offensive but I see that it has no different to the outsides trader who conducted course outside. (If his method is genuine, he /she should be in finanical freedom and wouldn't bother to collect "extra" fee from us)
Finally another "free" way to learn forex is just go to National Library and browse through the DVD section and you will be surpised on how many "how to trade forex" video DVD in the library, that is if you do watch it and practice at your own risk !
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Originally posted by M the name:
Kindly share with us who your mentor is.However if he/she do charge us for "trend" forex education, no offensive but I see that it has no different to the outsides trader who conducted course outside. (If his method is genuine, he /she should be in finanical freedom and wouldn't bother to collect "extra" fee from us)
Finally another "free" way to learn forex is just go to National Library and browse through the DVD section and you will be surpised on how many "how to trade forex" video DVD in the library, that is if you do watch it and practice at your own risk !
Let me ask you a question.
Lets say you are a good property agent. Would you sell houses for free or maybe even give a bigger discount because you are good? Or if lets say you have just discovered a method to make petrol out of water. Would you give that technology you have been working on for years for free?
No offense but your argument makes no sense. What you basically try to say is that people should provide you free service at their expense. My mentor doesn't reside locally and actually needs to sit on a plane and pay for hotel fees while in Singapore.
My mentor is retired he made his money through traditional businesses after retiring from the brokerage. He has enough capital outlay for his own investment purposes, he is just helping out young folks like myself and presenting us with an opportunity to build our capital requirement and build his own legacy in the process.
As he has already told us before, investment is a capital game. You cannot make $100 into $1 million in one year.
like i have said before, you can follow his free signals and see his results. just PM for his blog address.
You can find me for a chat there is no obligation but i only ask that you be sincere in wanting to learn. This is also my mentor's requirement, if you're sincere in wanting to learn trend trading from someone then look for us. If you're unteachable we don't want to try either, because you will just lose money if you cannot change your mindset.
Also please remember that forex is NOT for you to make INSTANT riches. A lot of people come into to investment thinking they can turn small amounts of capital into big bucks.
If you are under capitalized i suggest you build up your capital before you even consider trading forex. Because this is the number 1 way to lose money.
Have an open mind. Its great to be skeptical, but if you choose to deny every opportunity that presents itself even BEFORE understanding it in depth. Then you are just consistently denying yourself opportunities. Sure there are lots of "get rich" quick courses that never work, but how do you know for sure something cannot work even before understanding it a little more?
Don't be too quick to pass a value judgement, but don't be too eager to jump into it either. Everyone should make clam and informed decisions i didn't join this trend trading course the instant i saw it either. I followed my mentor's blog for long time before jumping in which was at that time not held in Singapore either.
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Originally posted by Vitto84:
Let me ask you a question.
Would you give that technology you have been working on for years for free?
So, I believed that you are charging a "management fees" for your trading strategies after all....Firstly, any individual(s) not holding to any valid licences (eg, Registered Representative or Registered Pool Operators' licences) approved by the Authority are not allowed to solicit and charge management fees.
The Forex Act came into the industry is to prevent unauthorized person(s) soliciting and practices these financial instruments w/o a proper licence(s) approved annually by the Monetary Authority of Singapore (MAS).
Furthermore, there was many fly-by night "bucket shops" disappearing with clients' investments or charging a huge brokerage for every trades transacted.
To be regulated - one must passed the industry required examination(s). The said professional examination(s) are conducted by the Institute of Banking & Finance (IBF). The said person(s) are well tested (in many areas including trading strategies, options, hedging, and risk mangement) and applies the mechanisms to their daily operations.
Hence, it will make a mockery out of the Forex Act if any individuals are allowed to solicit & charges a fee w/o any proper qualifications stated by the Authority.
Forex trading is already a stressful investment instrument as it is almost 24hrs trading hrs. If there are further hidden risks of your capital being mishandled by any unregulated advisors, then you are really heading for a financial crisis.....
.Good luck to those trading !!!
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Originally posted by Just_do_it_lah:
So, I believed that you are charging a "management fees" for your trading strategies after all....Firstly, any individual(s) not holding to any valid licences (eg, Registered Representative or Registered Pool Operators' licences) approved by the Authority are not allowed to solicit and charge management fees.
The Forex Act came into the industry is to prevent unauthorized person(s) soliciting and practices these financial instruments w/o a proper licence(s) approved annually by the Monetary Authority of Singapore (MAS).
Furthermore, there was many fly-by night "bucket shops" disappearing with clients' investments or charging a huge brokerage for every trades transacted.
To be regulated - one must passed the industry required examination(s). The said professional examination(s) are conducted by the Institute of Banking & Finance (IBF). The said person(s) are well tested (in many areas including trading strategies, options, hedging, and risk mangement) and applies the mechanisms to their daily operations.
Hence, it will make a mockery out of the Forex Act if any individuals are allowed to solicit & charges a fee w/o any proper qualifications stated by the Authority.
Forex trading is already a stressful investment instrument as it is almost 24hrs trading hrs. If there are further hidden risks of your capital being mishandled by any unregulated advisors, then you are really heading for a financial crisis.....
.Good luck to those trading !!!
It is NOT management fees.
we do NOT manage any form of investment or fund.
you are not required to open any account with us, we do not have list of brokers for you to sign up with and we do not encourage people who are financially unstable to join us
please refer back to my earlier post i already stated
like i said before investment is capital game. if you do not have a good capital outlay do not attempt it. because you cannot trade with money you "need"
please do bother to read through what i said because i do when i reply you.
it is fair to be skeptic and question our motivates. But please get a clear picture before you throw your own opinion about what is it we do.
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What has been said & I will not going to repeat again... everyone with internet can access to the thread & the statements we made.... hence, i am only providing some genuine advices to the forumers, & for them to safeguards from a possible scam.
Yes, one thing is definitely skeptical.... the number of posts written by you in sgforums. All your 7 previous posts are only for this thread.... you opened your Sgforums a/c just to pestering forumers to read your Mentor's blog ?
It is also useless over argument on any monetary returns for sharing your mentor's trading strategies but in this practical world, is there anything like free lunches ?
Hopefully the Authority will not be inviting you for a FREE Coffee anytime soon.
Last post for me in this thread... Forumers are entitled to their own opinions. Cheers.
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Originally posted by Just_do_it_lah:
What has been said & I will not going to repeat again... everyone with internet can access to the thread & the statements we made.... hence, i am only providing some genuine advices to the forumers, & for them to safeguards from a possible scam.
Yes, one thing is definitely skeptical.... the number of posts written by you in sgforums. All your 7 previous posts are only for this thread.... you opened your Sgforums a/c just to pestering forumers to read your Mentor's blog ?
It is also useless over argument on any monetary returns for sharing your mentor's trading strategies but in this practical world, is there anything like free lunches ?
Hopefully the Authority will not be inviting you for a FREE Coffee anytime soon.
Last post for me in this thread... Forumers are entitled to their own opinions. Cheers.
i already stated my position to be non-neutral from very early on.
it is fair enough to question my motive and i also already said that you should.
what is not fair is suggesting that i run a foul of the law when i haven't done so. Unfortunately i won't be getting free coffee anytime soon.
I never tried to break the opinions of anyone I provided my perspectives and responded to others.
i don't spam anyone's mailbox. i told ppl if they are interested then look for me. if not its ok we can discuss about trading here
Good to have your own opinion
i just hope the conversation could be civil
anyway i stepped in because i saw someone talking about robot trading. so instead of just attacking me, you might want to look at that or do you believe in forex robots?
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anyway i don't just have 8 post.
i just couldn't remember the email i used for this old account. =P
cheers everyone happy trading
take a chance to discover trend trading and don't believe in robots
=)
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Hi Vitto84, for the sake of proper discussion of forex trading and so there is not pointing fingers and "arrowing" around here. It is an open "secret" that if normal trader like us who loss any forex trade, it is not because the logic or any "trend" education is wrong, but rather it is due to the fact that our own broker are the one who are playing against us ! (Ironally they are the "licenced" people who do this to us) and currently I don't think our government is doing anything about it.
It just like for example when we see dark cloud are coming, we know it is going to rain and we will feel cold, but in forex world, the monents the dark clouds came, we start to feel heat and sweat like we are in desert ! Or in forex example, people always say it is logic that the trend will go up when "good" finanical news was announced, yet the market will dropped like hell before you can imagine and as mention, it is not surpise as why this happen once we know the "secret".
Unless your school of thought have any protection against this kind of menace, I don't think any "methods" is "Money Back Guarantee". In fact it also don't surpised me if you cannot find any brokers in Singapore who offered Metatrader 4 platform !
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I would love to get into discussion about forex trading with anyone =)
Of course we are aware of the fact that brokers are playing against us. We consider the daily high and lows as illusions in the market.
We have a way to avoid this, some consider it risky but this is to us the cost of acquiring a trend.
Its very good point you brought up and i agree. the greatest enemy in trading is yourself and a lot of times it is NOT the system that is faulty. Be it trend trading, or MACD or even moving average, if you have the discipline any method works.
On the subject of news, we don't trade news. Because you must understand it is NOT the news that makes the market, but the market that MAKES the news. How we determine the trend has nothing to do with "news" because you must understand that whatever "news" you see on bloomberg, is considered "old news" by financial standards
You can see many instances where the market moves in "opposite" direction of the news.
It is not really the trader's method at fault that they lose money, it is their PERSPECTIVE that causes them to lose money. Why? Because many traders jump into the market thinking that they can BEAT the market.
You must really understand that the market is setup for you to LOSE money.
But then again i am not for methods such as robot trading, scalping, etc. these methods that require HIGH levels of activity. Forex is NOT a zero sum game, it is a MINUS sum game, the minute you trade you losing money. Thus the more you trade the harder you work and the more money you lose.
That is my opinion.
Btw a money back guarantee can serve more purpose than you think. That is if the course is on the right focus and not just trying to lure you in.
You maybe a good trader i won't know. But have you held more than 1000 pips before on any pair?
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There are many methods in trading.
Just as there are many football clubs you can support, you are free to choose to support any method of trading.
If you suspected that vitto84 is selling some course, then you are free to ignore him.
It is a free society.
But, if you have a open mind, you can just msg him to find out more.
There is no harm to learn more.
You are the best judge to decide whether to join or not.
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14 Oct 2010
10 characters.........
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thanks for the info
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Impossible to make $ in FX. All my frens loss $. Those who win eventually lose back. No point. You can make 10 good decisions but one wrong decision can kill all your profits....In short, stay away.
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Originally posted by Vitto84:
14 Oct 2010
Felt great and thought i would share
my Eur/Usd broke 1000 pip milestone this morning.
Once again i want to say
Don't be afraid of volatility in investment instruments. If you have right mindset and strategy you still can profit from the market.
Hope everyone else is doing great too!
Yo Vitto84, not many people can trade that many lots and that many instruments lah....dun give them false hope mah....only 1% of the FX traders make $. If u are that 1%, congrats! FX trading is for the people who are already rich....eg. more than S$100k trading account. Those who dun have that amount better dun touch FX.
Trading Mini/Micro are waste of time and energy....
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Originally posted by Demon Bane:
Impossible to make $ in FX. All my frens loss $. Those who win eventually lose back. No point. You can make 10 good decisions but one wrong decision can kill all your profits....In short, stay away.
Sorry to over hype my trading. Sincere apologies, I didn't really realise how bad it sounded anyway i will remove it. Admittedly I let emotions get the best of me as I was a little ticked off.
I think i failed to mentioned it here. But my stand is that 95% of forex traders are losers.
I think I did however mentioned on the top that forex is not the path to instant riches and that capital outlay is an important factor.
You don't need $100k but you can't be under capitalized either. For beginner, actually 1-5k is quite conservative; its not a waste of time if you don't day trade. I trend trade meaning I hold for long term gains; I trade 10 minutes a day. The important thing is that it SUITS your lifestyle and you CAN do it.
In fact! You SHOULDN'T trade 100k if you're a beginner; it should be scaled to your tolerance level. Its takes time and training to master forex trading. Doesn't mean if you have 100k you will win money in the market either.
The reason why most people lose is because their money management sucks; they try to rob the market and end up burning themselves. They may win 10 trades; get greedy and lose everything in a single trade.
Its not "impossible" to make money from forex. Its just that you MUST have the RIGHT perspective of the market.
After all forex is very similar to casinos; the house always wins. It appeals to our human nature; but doesn't mean we cannot skew the odds to our favor.
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So many free resources on the internet, why would people subscribe to your services? Maybe u have made alot of $ and is eager to share your winning strategies and signals...perhaps if its free the first 10 times, people may actually be interested.
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Originally posted by Vitto84:
like i said.
i am a trend trader.
i only open to see my positions 10 mins a day. i just check to see if my positions need to be closed or reversed.
i hold my positions for as long as the trend brings me.
i was up to 4300 pips yesterday morning
you can look at my mentor's blog he has been recording 5 major pairs for almost 2 years now. he records every profit and loss that occurs
its great to be skeptical but still try to have an open mind. its not impossible to make money in the forex market.
but its take more than just a system to achieve consistent results. its not about gambling. we don't day trade and we don't gamble. we have a specific system and set of rules we follow. we don't gamble on probabilities by using technical analysis.
do we lose money? yes of course we do. we don't have 100% winning ratio in fact on some pairs its less than 50% but the amount we make when its profitable is more than enough to cover our losses with profit.
most 'gurus' show you tons of past results. how many can actually take up a challenge and show u results from present till 3 months or even 2 years ago.
if you're interested and open to such an idea then pm me. there are a lot of different ways to trade the market but if you are looking to know the 7 secrets of forex trading or the holy grail, i am sorry but we cannot offer you this.
but we do know what a trader needs to be profitable and its beyond just technical tools and indicators.
if you don't believe it. follow my mentor's blog. follow it for 2 years, 5 years or even 10 years. see the results for yourself until you are satisfied.
there is no rush to come to a conclusion. the market will always be there and the opportunity to make money will always be there.
Thanks for the info. Are there any books that you would suggest reading ?
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A free FX resource
http://www.babypips.com
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Originally posted by Demon Bane:
So many free resources on the internet, why would people subscribe to your services? Maybe u have made alot of $ and is eager to share your winning strategies and signals...perhaps if its free the first 10 times, people may actually be interested.
i don't have any service to subscribe to.
i don't have any "winning strategies". i already said knowledge is NOT the key to success in trading.
everything i learnt is taught by my mentor. but its not knowledge that he shares. My mentor always says knowledge is free, nobody should have to pay for knowledge.
Its his experience of the market and the ability to identify detrimental trading habits that he has provided me and made me a better trader.
He always say he is not a guru; he is just a mentor.
BTW if you're interested in reading about trend trading you can start with michael covel books
anyway u should be in control of ur own fate.
and whenever you look to find some kind of trading strategy you must ask whether it SUITS your lifestyle. Someone may provide you the BEST trading system in the world but if you cannot understand, cannot use it because it doesn't suit your lifestyle. Then you will still lose money at the end of the day.
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From your previous posts, it seems u are already rich ! You made so many pips!!! Amazing!
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Originally posted by Demon Bane:
From your previous posts, it seems u are already rich ! You made so many pips!!! Amazing!
trading is a capital sum game.
you can only make as much as you can afford. and never trade if you cannot afford it.
but we are always taught to talk in pips.
because my mentor always says that pips is something that everyone can achieve.
if you talk in dollars, you will stir emotions of other traders because dollar is not always achievable, someone with a million dollars can make $100k easier than someone with $100k
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This is a good sharing thread.
Kudos to Vitto. The posts are indeed down-to-earth and logical, and does not promise anything out of the skies. Thanks for the sharing.
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Hey Vitto84, why not u start a day trading thread or a specific instrument trade eg. EURUSD, GBPUSD, USDJPY etc.
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thanks for kind words.
sorry demon i don't day trade. i don't work hard for money i let money work for me =)
day trading is tiring
but its my guess that the eur/usd would start to range
i have closed my shorts on eur/usd this morning