Don't diss on other people's bowl of rice. Just because forex doesn't work out for you dones't mean it is true for other people.

I've traded bonds equity commodity options and forex. I just happen to like forex more than the other instruments. Doesn't mean I solely trade forex only as well.

And obviously there are some who do make a living trading forex. Like me for example. Although I can't say it's purely forex only.

Long story short, there is nothing wrong trading forex. All the issues with withdrawal and banking is caused by bnm who's trying to protect uninformed public. But I dislike it because the longer the public is uninformed, the longer the stigma on forex trading.

I am saying for the big majority.
You are the few exception.Your statement on happen to like forex is a big added advantage to you.

Ive been observing and trading small for a good number of years. Of course , there are ways to make and lose money from forex as in all other type of investments.

Been considering to launch full time. Would really appreciate if you could share some experience.

This post has been edited by sunnyK: Jul 16 2020, 10:54 AM

What is it you would like to know?

Knowing now that you are already a full time investor and certainly must have faced obstacles before being successful.
What and which sets of skills are required on becoming a good trader and how to develop them , before venturing to full time ?




Thanks in advance.

your question is too broad. I cannot answer that properly without typing an essay.
Plz narrow down.

A half assed answer:
You need consistency. And sufficient funds.
If your funds are too small, then it becomes hard to make a decent amount. If your trading strategy is buy and hold for 1 year, you also won't make it - unless you start with 100k usd. Then maybe at the end of the year if you make 20% profit, you can still cover your year expenses.

You must make enough on a consistent enough basis to justify trading full time.

It is still some answers from you. I am not expecting obligation.
From my knowledge , a trader first need to develop a workable trading method of a consistent correct market analysis and fund/risk management. In that order.

Where to put stop loss is currently a obstacle .

You aren't wrong. You need to work towards consistency. Not necessarily every month consistent. But at least every quarter consistent.

What strategy are you trading currently? Indicator based trend following?

A mix of both fundamental and technical (support and resistance). Sometimes , i mix them up for 30min , 1 hr ,4hr or even weekly. . Want to move away from this and concentrate on S&R.
Prefer to be swing trader or short to medium term , less time monitoring and higher rewards too. Learning to be a contrarian.

If you're trading based off s/r how are you having trouble with stoploss?

Just put your stop slightly further than the s/r

Good on ya to remind me on this.

As per my last post , i have done too much mixing. Trying to be clever and ends up confused. Most of the times , the fear of being wrong overrides the fear of making losses although losses have been factor in. Silly me.
Knew the theories already and market analysis is correct but implementation is rather poor. Or may have not develop full confidence on my own methods.

This post has been edited by sunnyK: Jul 16 2020, 01:57 PM

All I can say at this point is good luck.

Bonus advice for you. Hopefully it helps:
1)Buy at support, sell at resistance is a universal rule that works all the time, every time. It is forever true and will never change no matter how much time passes.
2)Your edge only tells you what direction you should be trading in - either buy, sell or do nothing. It has no relation to the above advice.

Example:
If your strategy tells you to sell, but you're about sell into support, don't do it because of rule (1). You should still look for a chance to sell. Just don't sell into support.

Hope that will enlighten you. This took me almost 10 years to figure out.

I have make those apprentice mistakes too. Now seldom.
I observed that Fibonacci works rather well in forex too.

Thanks for advice.

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This post has been edited by degionz: Jul 18 2020, 02:04 PM

Is it possible to create a investor/read-only password for demo acc
I know it is a strange question but i got introduced to a fund manager and he gave me the investor password of his account and showed me his portfolio with a 40% annual return
Could he be showing me a fake record from demo account?

can. Demo and live also can.
https://www.ea-coder.com/mt4-investor-password/

all MT4 software will have investor password, to determine real or fake trading, it will depends on which broker fund manager use

This post has been edited by kuladruw: Jul 20 2020, 10:30 AM

you know its demo account.... yet u still believe him?

ask for real account la....

Hi everyone, let's me self-intro a bit myself here. Looks like i'm new but i'm already reading lowyat forum more than a year.
I'm trading forex more than few year. From account burst , made big lot size to cover 1st loses 2nd loses. I believe everyone trading has done this fuck wrong strategy when start self-trading ( no offence ya )
But keep trading learn from loss , learn some mentor sharing , learn others this is what we should do for future better trading.
Finally i'm get my MAM account for start can help my friends & relatives to managed their account.
So, i'm just sharing & promote myself a bit. ( if not allow to advertise just deleted my post ) haha....
Below the link is my MAM acc start from 26th JUNE 2020

http://www.myfxbook.com/members/foxxiess/v...oxxiess/6515967

either you can search at ZULU Trade FoxxieSS . I did start there from June.

If you are interested to join me, please do not hesitate send a PM to me. Thanks you

Well, the game gets interesting now.

MYR is at the doorstep of the famous 5.00 to the EUR which MYR was able to defend in 1998 (remember Soros vs. Dr M?), 2004, 2008, 2009, 2015, 2017 (this I remember so well, finally had the chance I waited long time to sell Euro and buy MYR and lock them in a 4.5% FD).

So if the 5 falls this time, where we it end? I am too cautious now to repeat the 2017 trade.

For recording purposes and updating this since have sometime today,...

As I write this, the interank bank rate is : 75.319.

Will continue to long, bros,....