*Official* Forex Trading thread.

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Mr.Canberra

Mr.Canberra

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Forex Trading

Average said:
lost abt sgd600 last wk on forex. bye guys. cannot afford to play forex anymore
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Sorry to hear about your loss. Margin trading is not easy and very stressful. You need to stay very focused and monitor 24/7. Your social life will become zero if you intend to succeed in trading.

When I started Forex trading 6 months ago. There was a lot of enthusiasm and drive. It is not easy. At some point you can go on a winning streak but there will come a day when the party stops.

Lately (post Trump victory) it is getting very hard to trade as the market is moving via political cues and not fundamentals. Also interest rate hike pace has accelerated. Fed Funds Futures has priced in at 23% probability for a March rate hike.

In 2015 and 2016 (before US Presidential Election) flipping USD/SGD was a no brainer as the price will up and down as per FOMC meeting when Yellen keep flip flopping. Eg. 1.35 - > 1.4 -> 1.38 -> 1.41. Dip buying and selling on rally was the game plan. It was very predictable.

Now the scenario has changed as the Fed will want to raise interest rates at a faster pace mainly due to Trump's proposed stimulus policies or risk lagging behind the curve. So the price momentum will be always chasing the high now as per FOMC Meeting. Eg. 1.42 -> 1.44 -> 1.45 -> 1.??. How high is too high? And if financial or political crisis happens then it is game over when you are left high and dry.

I will begin to trim down my Forex margin trading exposure as well. Non leverage physical Forex and gold trading will still be my hobby though as not time consuming. :)
 
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awful999

awful999

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Mr.Canberra said:
Sorry to hear about your loss. Margin trading is not easy and very stressful. You need to stay very focused and monitor 24/7. Your social life will become zero if you intend to succeed in trading.

When I started Forex trading 6 months ago. There was a lot of enthusiasm and drive. It is not easy. At some point you can go on a winning streak but there will come a day when the party stops.

Lately (post Trump victory) it is getting very hard to trade as the market is moving via political cues and not fundamentals. Also interest rate hike pace has accelerated. Fed Funds Futures has priced in at 23% probability for a March rate hike.

In 2015 and 2016 (before US Presidential Election) flipping USD/SGD was a no brainer as the price will up and down as per FOMC meeting when Yellen keep flip flopping. Eg. 1.35 - > 1.4 -> 1.38 -> 1.41. Dip buying and selling on rally was the game plan. It was very predictable.

Now the scenario has changed as the Fed will want to raise interest rates at a faster pace mainly due to Trump's proposed stimulus policies or risk lagging behind the curve. So the price momentum will be always chasing the high now as per FOMC Meeting. Eg. 1.42 -> 1.44 -> 1.45 -> 1.??. How high is too high? And if financial or political crisis happens then it is game over when you are left high and dry.

I will begin to trim down my Forex margin trading exposure as well. Non leverage physical Forex and gold trading will still be my hobby though as not time consuming. :)
Click to expand...
Good advice and in time for me, this few days I keep thinking about the winning , am I really master the trading or just beginner luck,that why I still go for workshop and research in internet to look for any cue, I am also still consider to go for part 2 of my training in SGX to find way to make it consistent if possible, I still want to give a try on trading but will be more careful and time to time to review the outcome. My trainer told us that in his first 9 month of trading he keep lost money until he think of stop trading but then he keep going and now become sucess, so he is trying to let us know the mistake he been before to cut down our mistake. That why I am thinking I should try at least 6 month before I stop trading. For me I think that seem like futures index is less sensitive to news compare to forex, that why I will focus more on futures index at the moment
 
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ctstalin

ctstalin

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ctstalin said:
Lol... Mai kia mai kia
h6USYrDl.png


Sent from an offshore drilling platform somewhere using GAGT
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So.... My UJ short reached the take profit price, but Gchf gapped down on Monday open and never recovered :s22:

Sent from an offshore drilling platform somewhere using GAGT
 
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Wasshoi_Jem

Wasshoi_Jem

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awful999 said:
Currently I only dare to use 5% of my portfolio to trade future and forex, so far since I start trade last Nov, my return is about 20% but this is just beginning, have to look at long term return..I still don't have much confidence
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I also thinking of using my 1st 3 months to self-judge if I should be trading forex, and also learn the ropes. As long as my results dont get affected and I still hit my personal goals (And I dont burst account) I`ll continue.

I started around end Dec, we both xinjiao, lets hope few month down the road we still here chatting :)

... How many posts must i have than can post image :(
 
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