Tuesday, September 30, 2014

Saturday, September 27, 2014

Forex Trading Day 18

The performance so far is unbelievable.

Friday, September 26, 2014

Thursday, September 25, 2014

Wednesday, September 24, 2014

Tuesday, September 23, 2014

Saturday, September 20, 2014

Forex Trading Day 13


Small profit for the day.
A friend's brother applied for USD 10 million Alibaba shares through an American Bank and was allocated only 18 shares.  The poor don't even stand a chance. It's sure money for those who are allocated.

Friday, September 19, 2014

Forex Trading Day 12

This is something that I like to see as their performance seems too good to be true.  Many of my friends in the trading community, including myself are doubtful for the way they raise funds through the MLM system.  Are all these genuine trades?  Forex brokers are not regulated and I am unable to smell anything fishy at the moment. I am aware of the risk.

Thursday, September 18, 2014

Forex Trading Day 11

A little like back to the good old days on the floor where we made money almost everyday. A fellow trader once reviewed to me his track record that he had not a single losing day in more than a year. And I told him I had not a single losing month in 19 years as a floor trader.  Those were the days.

Wednesday, September 17, 2014

Forex Trading Day 10

I thought only capable for small gains.

Tuesday, September 16, 2014

Forex Trading Day 9

Didn't disappoint, more like an expectation.

Saturday, September 13, 2014

Forex Trading Day 8

A slow and steady progress.  It's always the same 8 pairs and around the same timing.  Just one trade per pair, anything fishy? 

But it's still better then funds managed by our 2 biggest local banks here which I have personally experience losing big time putting money with them.  I was convinced by the managers that they have the best professional fund managers with years of experience and award winning team to manage my funds.  It's a bloody marketing con job that's perfectly legal with nice brochures. And they still charge management fees yearly for losing and underperforming.

Friday, September 12, 2014

Forex Trading Day 7

Going well, slow and steady. No big surprises.

Thursday, September 11, 2014

Forex Trading Day 6

Still a profitable day with a strategy that is consistent.

Wednesday, September 10, 2014

Forex Trading Day 5

Staying on course, still the same set of spreads, they must be using some form of Algorithm to execute these trades simultaneously.

Tuesday, September 9, 2014

Forex Trading Day 4

Pleasantly surprised with the result. 

Sunday, September 7, 2014

Forex Trading Day 3

It's another small losses on this 3rd day and I am happy with it.

Friday, September 5, 2014

Forex Trading

A friend recently introduced me to a company that manage Forex trading through their team of traders using one of their recommended Forex Brokers.  This friend showed me the daily track records of the traders, which is phenomenal in the electronic era.  Of course it's easy to achieve fantastic returns during our floor trading days.

After some convincing from this friend, I decided to put in a small amount to test it out even though I am not a great supporter of Forex Brokers.  The risk is definitely there, though account can start from as low as USD 1,000 to start off.  I put in an amount that I can afford to write off and still able to sleep well, that's important for any investor who wish to invest in any instrument; bonds, stocks, unit trusts or managed funds.  A note from my experience is not to trust unit trust, almost all underperformed and funds that charge management fees even though they losses money for the account.

There will be a 30% performance fee charge at the end of the month only when they make a profit for the account, and losses will be carried forward to the next month.  I find this reasonably fair. Account can be stop and closed anytime as desired by the investor and funds withdraw out as requested.  No penalty, that's very good.  Daily statement from the Broker will be emailed to the investor.

Statement received from the first day of trading, no idea how they trade to make money with such small profits as scalping is so difficult nowadays.  I am still skeptical.  I suspect they are doing some kind of a spread trading.

Minimizing such small losses on the second day is rather hard to achieve in the volatile Forex market.  I was told the traders had many years of Forex trading experience and trades are transacted during non figure nights using 7 proprietary indicators when the markets are more stable.  Well, they are not going to reveal what strategies and why a particular set of forex pairs were chosen.  Maximum cut lost will be capped at 7% per day and all trading suspended if the account lose 30% of the capital, awaiting further direction from the investor.