lkwong's Posts - Page 2

How do you trade in a bear market in New Traders Jul 07, 2012 at 16:26

Bruce : Don't take this the wrong way, but don't mistake interest/passion for the bottom line. The only reason we should be trading is to make a profit, anything else is just gambling.

How do you trade in a bear market in New Traders Jul 05, 2012 at 19:19

Wow, I've finally found someone here at myfxbook thats actually on the same train of thought as I am. What you've just illustrated is a classic example of a system thats got an inverse risk-reward. If you pick a random system on this site, chances are the system would have this issue (average win < average loss), and possibly even a very high win ratio. The other traders however, think that they've found the holy grail, and are asking how much the EA/system cost, or if they could invest. These, along with the over leveraged and high frequency systems are the biggest contributor ...

How do you trade in a bear market in New Traders Jul 05, 2012 at 03:55

Assuming that you've "reversed" the process correctly, I don't think you should be judging the effectiveness of your system over one trade. To me trading means working with the numbers, studying the statistics. If you take the same trade setup over 100s of trades and it works, that probably means it does, and vice versa. Taking a trade, or even 5 trades, and not seeing it work, doesn't mean its faulted. Have you found a trading method that suits you yet ? I mean apart from the EAs and signal services ...

Best Broker for a Newbie in New Traders Jul 02, 2012 at 19:18

I personally use IBFX AU, and they've been quite reliable thus far. I would recommend them, but I'm not sure if your trading methods are similar to mine. What I can say is that execution is reliable (haven't had any requotes), customer service is pretty good, but some matter would require them to email you a reolution ("Liveperson" System). Withdrawal and deposits have happened in a timely manner. They are pretty stict with the sign-up process, but I guess that a one off. -LK P/s : Thought I'd mention I'm a Money Manager there, and also an IB, but I'm not sugg...

How do you trade in a bear market in New Traders Jul 02, 2012 at 07:08

Hi,Not too sure how others see this, but heres just my $0.02. There isn't really a "bull" or a "bear" market in forex. The values you see on the chart are just ratios between the values of currencies. What we actually are trading is just the fluctuations in values. eg : if we are long or "bullish" on the EUR/USD, this would be the same as being short or "bearish" on the USD/EUR. Maybe its because of the way I trade or the system that I run, but the 2 market conditions for me are just "trending" or "ranging". Trending can mean eit...

Only Real Money-Making Traders Apply in New Traders Jun 29, 2012 at 20:51

Hi Randall,I just found your topic with the title above, unfortunately, it looks like you've stopped trading altogether. If you're still trading the same system here are my thoughts (some probably a repetition of what others have said) : 1. Some of the replies that your stops are too tight, I'm inclined to agree with them. I've never traded a 30m chart so I can't give you an indication on whats 'right'. But just an indication of why I think they're too tight is clear when you look at just the number of 'red' and 'yellow' news. Any of these could ...

Tablet device shopping Friday in New Traders Jun 29, 2012 at 04:42

Just did a quick search for those services that you mentioned. They look like EAs to me. I also have MT4 for Android running, and did a quick look through. It doesn't seem like neither external indicators nor EAs run on it. -LK

Newbie on a steep learning curve in New Traders Jun 28, 2012 at 16:35

Mrs1238 : I probably need to mention that I did NOT create that video. I just posted the link. Sorry Mrs1238, if I offended you, to make you lash out like that. I'm sure whatever system it is that you're using is excellent, to make you react as such. Bruce : Its good that you're finding some success so early on. Many don't do until quite a long ways in, sometimes a bit too late. But like they say, only time will tell what works and what doesn't. -LK

Tablet device shopping Friday in New Traders Jun 28, 2012 at 16:27

Personally, I would consider a PC instead. As far as I can tell, you'll not be able to run any non standard indicators from an android device. -LK

WLK Balanced Portfolio in Trading Systems Jun 27, 2012 at 18:49

Thanks for the many inquiries regarding managed accounts, but unfortunately, as of now, I am unable to _directly_ take on any investors from the US of A. This is because my broker is NFA accredited, and is abiding by their guidelines of not allowing US citizens to have forex / trading accounts overseas (or something along those lines). This is very regrettable. -LK

Newbie on a steep learning curve in New Traders Jun 26, 2012 at 16:44

Haha ! I probably do need training ! But since he was trying to put one below the belt, I'll take the high road and not respond to it. Do have a watch at this video tho' 😎http://www.youtube.com/watch?v=JUYIzwE70dA&feature=player_embedded#!

Newbie on a steep learning curve in New Traders Jun 26, 2012 at 11:19

Hi,I would have to agree with mrs1238, a coach or a mentor would be a good idea. Just probably not the one recommended by the person who has 3 post, all trying to sell the same idea. I would say try looking for someone who's already a good trader / investor and not someone who mentors for a living, then try to convince then to teach you. It sounds to me like you need more basic knowledge. Drop in to baby pips,and read the free material. Its a very good primer. Google the site, not sure if posting the link here violates the forum rules.I would suggest you take a step back and learn the diff...

Chetan @ FXPIG DMA in Trading Systems Jun 25, 2012 at 09:08

Interesting, but I think your risk:reward ration is inverted.

Newbie on a steep learning curve in New Traders Jun 25, 2012 at 03:08

Hi and Welcome to the wonderful world of forex trading ! Hope its going to be a fun and possibly very profitable journey for you. But one things for sure, its going to be bumpy ! On a more serious note, you don't mention the size of your account. But if you're only trading one pair, and you're in the hole for $30K, you account is most probably over leveraged. -LK

Inverse Pairs in General Jun 23, 2012 at 08:44

I trade almost exactly like this (but I have soft stops), and yet I still get people asking me why there are months where I don't trade at all, and when I trade, how I hold positions for weeks. I think with all the white noise and misinformation online, its hard for anyone trying to get into trading to not over leverage, over trade, or to just simply stay away from the market when its just simply unfavourable. Its sad to say, but I think a lot of it has to do with the brokers, and also IBs posing as mentors out there that encourage hi frequency, hi leverage trading.

Inverse Pairs in General Jun 23, 2012 at 08:33

I just got to reading this thread, and its quite interesting. However, I think it started out as on thing, and has veered of into another. The original posting sounded like divergence trading while it looks like it has evolved to hedging of trades.

Inverse Pairs in General Jun 23, 2012 at 08:28

This is so, so true. Just look at my signature !

Forex System - Red Flags and Pit Falls in Experienced Traders Jun 23, 2012 at 08:09

Wow, really ? Nobody ? 13 views and not a single response ? I guess what I wrote must have irked some people.

Another new Trader thread :( in New Traders Jun 22, 2012 at 09:26

You wouldn't believe how true this is. The system I'm using can be taught to an 8 year old. Its the discipline and emotions that are hard to master. The fear of loss and the euphoria of a win can be so overwhelming. The worst part is that it creeps up on you, and most people don't realize till its too late !

Forex System - Red Flags and Pit Falls in Experienced Traders Jun 20, 2012 at 04:37

Hi everyone,I'm in the midst of setting up a small managed fund, and I'm wondering what criterias potential investors look out for, and more importantly what they turn away from. I'm doing this to gain better knowledge and insight to how others think as forex investors. Just to get the ball rolling, here are a few of my own "Red Flags" and a short commentary about why I think so. And in no particular order, here they are : 1. Demo accounts - Demo accounts are great for your own reference, but I wouldn't trust anyone enough with just a demo account performance. If you...

EURUSD	1.0776	GBPUSD	1.25348	AUDUSD	0.66116
USDJPY	155.695	USDCAD	1.3681	USDCHF	0.90669

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