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Ending the week off with my last 2 positions, netting another $779.52 to tabulate my results for the month. My previous winning streak of 15 trades was killed when I got stopped out on my short-term Gold trade.

Looking forward to another exciting week ahead!

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2014-03-01 03.47.45

Some quick forex updates from the Synapse Network:

  • We took some shorts last week, but got stopped out (thankfully before the large spike).
  • We also went long on the GBP/USD, and this has fared much better, so we are holding on to ride the boat.
  • We are also holding long in USD/JPY, but that I will save for another separate post.

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Wow, another exciting day of shorting and raking in profits. As I explained to some new traders today, there are 2 kinds of positions – the intraday trades and the overnight positions. Both require a different mentality and strategy to trade.

Most people get confused by trying to both at the same time, often with dismal results.

Most people who started off trading stocks (many of our students also trade SGX stocks, and so do I) initially tried to use traditional methods like indicators, which you might get away with for long-term stock trades, but for intraday trading, speed and precision is more refined.

After using such precise techniques, you will find the timing of your stock trades dramatically enhanced as well.

As you can see from the charts below, these timely shorts can easily be spotted on blank charts, and executed quickly without the confusion of numerous conflicting indicators and signals.

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Looking back at the past 6 months, we can see that the top performers were US equities and the USD/JPY, which is why we have been taking medium/long-term positions all these while on the USD/JPY.

Gold has been a good medium/long-term short, until it found support near the 1150-1200 zone. The Singapore market has been rather choppy and range-bound, which is why we have been doing swing trades to capture price swings.

But so far, the best trades have been intraday scalping trades on the EUR/USD and GBP/USD, because in a range-bound market as such, it provides many opportunities to trade both ways throughout the day.

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Trading is a systematic way to get rich, but only if you have the discipline and skills to do it progressively (not an overnight affair), and it is certainly not gambling/punting (save your gambling urges for casinos in MBS).

For my next sharing session this coming Wednesday, I will reveal why professional traders in funds choose not to use indicators, and how they time the market using charts and behavioral analysis.
Register here: http://www.eventbrite.sg/event/7201996365

P.S. If you are still hesitating about signing up for our training program, do make up your mind before the early bird offer ends!

Recently, there have been some good moves in the stock market, but let’s not forget the forex markets as well. This is a good short trade on the GBP/USD that we did together from start to finish, and I am glad that my students could successfully complete this trade together with me, and I hope these small victories for them will add up and give them more confidence.

In this trade, although they did not manage to capture the full trade, 100 pips on 2 contracts is still about US$2,000, which is still pretty decent for a new trader for a single trade.

Tomorrow morning, on Saturday, I will be having a re-run of the full-house seminar we had last Wednesday – “The Art of Market Timing”, and I hope to take the chance to share more examples which I have prepared. For those who managed to get seats, see you tomorrow!

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2013-05-14 03.31.00

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