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.

Forex Trading Day 7

Going well, slow and steady. No big surprises.

Forex Trading Day 6

Still a profitable day with a strategy that is consistent.

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.

Forex Trading Day 4

Pleasantly surprised with the result. 

Forex Trading Day 3

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

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.