Joining A Forex Investment Group: Benefits And Considerations

Joining A Forex Investment Group: Benefits And Considerations – Forex traders in Singapore share with us how much they have lost before making a profit in their business. Learning to trade is like learning to play a musical instrument. For most of us, it will take years of practice and experience to get good at this.

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Joining A Forex Investment Group: Benefits And Considerations

Over the past 12 months, many people have become interested in the business, perhaps motivated by the promise of quick profits with little initial capital. There are many financial instruments that we trade such as stocks, bonds, indices, forex and commodities. Unlike long-term investments, if we want to trade these instruments in the short term, we do not need to buy and hold these assets. Instead, by using contracts for difference (CFD), we can get exposure to all these different asset classes.

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Among them, the largest and most traded financial market in the world is the foreign exchange market, also known as forex. Like investing in other asset classes, we make money when the price of money moves in our favor. However, when it comes to forex, the price of one currency is always quoted in terms of another currency. For example, if you buy EUR/USD, you are buying euros using US dollars (USD). If you win

Forex trading is sometimes considered risky for two main reasons. First, forex trading is a zero sum game. In order for one party to benefit from its business, the other party must suffer a corresponding loss. Second, most forex traders also use leverage to increase the size of their positions. This means that rapid market movements can cause your profit or loss to increase.

To better understand what traders can expect from Forex trading, we spoke to a number of Forex traders in Singapore.

One of them is Desmond Leong, founder of Forex Force, a trading community that offers free tools and advice to traders. Desmond is also the founder of Everest Fortune Group, a research firm that produces research and analysis for institutional investors and entrepreneurs. We also spoke with Jason Lee, a trader well known for using a macroeconomic approach to trading real estate, currencies, stocks and options. Jason is also the Chief Investment Officer at Quantum Edge Consulting, where he helps companies with fundraising, investment and M&A opportunities.

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Desmond Leong (Desmond): I started my first year at university. The general idea is that if I can afford to work, I don’t need to continue with those classes and seminars J.

Jason Lee (Jason): I started investing when I was 19, after I was inspired by reading a book. Unfortunately, when I got into the stock market and made my first trade during the financial crisis of 2007/8, I got burned. I lost all my savings at that time because I was trading on margin in my mother’s trading account.

After getting seriously burned out, I searched for answers and started reading more books to improve my knowledge. However, that is not enough, I realized that there is much more than I know about the market, things like sector cycles, economic cycles, the relationship between FX, stocks, fixed income and commodities. Soon I started attending courses to improve myself and expose myself to more knowledge and strategies.

After 4-6 years of steady trading and many mistakes, I managed to develop my strategy. Not all strategies work for the same asset class, every pair or every company. Each indicator has its own behavior because traders are different and it will take time to understand it.

Forex Trading Platform

Forex was the last tool I got into and I was attracted by its liquidity, low spread, very little market manipulation and high volatility. These were the factors that adapted my trading strategy, allowing me to trade on multiple time frames from position trading to day trading. Each strategy requires a different analysis, fortunately I was able to quickly adapt to all these styles and develop strategies.

Now I manage approx. on an investment of S$1.5 million and earns an average of 30% per year for my investors.

Desmond: I tested some strategies on a demo account for a short time before switching to a live account. I feel that the amount of experience you get trading on a $1000 live account is 100 times more than a $100,000 demo account – because you feel the psychological battle of wanting to keep your losses, take revenge and take profitable trades. . quickly, even if it’s just a small business. There are no game skins on the demo account.

Jason: I took a break and started a live account. Demo accounts work for some, but I’m a guy who needs to make money online to learn quickly. For me, having real money (however small) on the line allows me to focus better and take the trade I’m in seriously. After all, the feelings and emotions are different when you trade real money on a demo account instead of virtual money.

A Basic Guide To Forex Trading

The best way to start trading would be to start with a demo account, familiarize yourself with the site, try out the strategies, then when you are ready to focus, put some available money into the account and start trading in earnest. do business In the early stages of trading, you will always see losses, but always keep your losses small so that when you find a winning strategy, you can increase your losses and cover them quickly.

However, when you develop your trading account, you may encounter success lines that will convince you more and start promoting your account. That happened to me and I lost a lot of capital at that time.

Desmond: It was hard because I didn’t know where to start and my success was luck or because I “cracked the code”. I didn’t keep a journal or have a mathematical approach to trading, so I couldn’t tell if I was making progress.

I finished all those classes and graduated. I deleted about 7 accounts, I think I swear I quit my job at least 5 times in that time.

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I learned 3 big lessons. First, if you can do it with $1,000, you can do it with $10,000. This means don’t jump into a big account if you haven’t built up the confidence to trade on a small account. It’s like teaching our children to walk, don’t run until they learn to walk.

Second, more advice doesn’t mean you have a better chance of getting it right. I put indicators in my charts that show the same results with different interpretations (e.g. high stochastic, RSI, MACD) – which led to a high sense of false confidence. This is usually the most dangerous, because it means you are going in the completely wrong direction!

Finally, don’t look for shortcuts. Always try to understand what you are doing. I once bought a gold trading robot that measured its profitability and it was basically a magic bullet. The strategy was a black box – meaning we couldn’t see how it decided to accept the trade. The problem was that it was making good money for about three months and I wanted to make more money. When gold started to turn around in September 2011, he kept buying all the way (he was only profitable because of gold’s move in recent months) and my account grew (along with my dreams of passing class).

Jason: It depends on your strategy and setup. It is difficult at first, but once you find the right method, you will be able to repeat the trading strategy again and again. Many new traders tend to trade on instinct, also known as ‘feel’, so they cannot repeat successful trades. This basically means that they have no strategy or plan for their business.

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An important lesson I have learned is to never trade. Trading is not over-trading, but trading on the limits of the mind. Some may think that losing $100 is too much and some may not. But when you’re trading and taking losses that your mental capacity can’t handle, you’re more likely to make emotional trading decisions.

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