ETD: 16th November, 2012; Friday
ETA: 28th December, 2012; Friday
Below is a very good article which I coincidentally came across while browsing the net. It did make me "thinking" which I believe worthy for all of us to at least re-check our own trading strategy or philosophy. I would recommend a visit to Chris's blog, which contains lots of good points and fresh perspectives regarding forex trading.
Thank you, Chris!
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Chris Lee
Retail Forex Enthusiast
www.pipmavens.com
When I first started trading years ago, I had no idea about the type of trader I wanted to be.
All I knew was that I wanted to make money trading. I didn’t really care how I was going to do it.
I mean… did it really matter how I traded, as long as I made money in the process?
As it turns out, this question was far more important than I’d initially thought.
What I didn’t know, that I didn’t know
Coming from Singapore, my life was pretty much mapped out for me the day I was born.This was the plan:
- Go to school and get good grades
- Graduate from university and get a good job (preferably as a lawyer or banker)
- Work for a couple of years, save money
- Get married, have kids
- Invest in the stock market
- Climb the corporate ladder for the next 30 – 40 years
- Take vacations 14 days a year (if I’m lucky)
- Get the 5 C’s: cash, credit card, condominium, car, country club membership
- Retire at 65, kick back and relax
You might be familiar with this plan.As a young adult, this was pretty much all I had to look forward to.
This was (supposedly) the best life had to offer. It couldn’t get any better than this.
Or could it?
Enter The Trader
Years ago, in an attempt to break out of this cycle, I studied the art and science of Forex trading.It was a journey filled with psychological and emotional challenges, but after years of learning from seminars, books and DVDs, I finally settled on a trading approach that performed consistently for me.
And I thought I’d made it. I thought I’d arrived.
Trading Became Another Job
But as I continued along my trading journey, I began to realize that I was completely dependent on short term price fluctuations.Every time the market rallied or dipped 20 pips, I’d be ready to jump in to take a trade. I was often stuck to the computer for hours, and had to skip more than a few meals in order to keep monitoring the market.
I become highly stressed and high-strung, my personal relationships suffered, and my health deteriorated… I even developed a stomach ulcer before 30.
Before I knew it, I’d become a slave to the market.
Technically, I didn’t have a boss to answer to. But there was no doubt that the market was calling the shots in my life.
How I felt, when I ate, when I could go to sleep… was all determined by the market.
I had practically no control over my lifestyle.
And one day it hit me…
I realized that I’d just signed up for yet another job.
Employees Trade Time For Money
I thought that being a trader meant that I could make money without getting a job. But the way I was trading, was little different than having one.And in many cases, it was worse. At a job at least, your paycheck is pretty much guaranteed.
The way I used to trade forced me to sit in front of the computer, waiting for an opportunity – kind of like fishing, except without the fresh air and with a whole lot of stress.
I’d sometimes wait for days in vain, as the market continued to consolidate and not go anywhere. And I’d waste all that time doing nothing, because there was nothing I could do but wait.
I couldn’t leave my trading terminal.
When I got sick and couldn’t trade, I couldn’t make money. When I went for a vacation, I couldn’t make money.
Just like an employee, if I wasn’t actively trading, no money came in.
This made me realize that my approach to trading was flawed.
I wasn’t just trading currencies… I was trading my time for money.
Something had to change.
Investors Trade Money For More Time & Money
Time is a resource with a hard limit.When the time comes for me to depart from this world, I won’t be able to buy another minute of time. All the money in the world wouldn’t matter one bit.
And the thing is, I have absolutely no idea how much of this precious resource I have left. I could leave this world in 10 years, 5 years, 1 year, 6 months, 2 months, or even next week… I simply have no idea.
This realization slapped me right in the face.
This wasn’t just about the game of trading… it was about the game of life.
So from then on I decided not to take part in any endeavor that required me to trade my time for money. That’s a losing game.
I wanted to trade in a manner that required as little time as possible. I didn’t want my trading income to be determined by the amount of time I spent in front of the computer.
And Icarus Was Born
So that was the context that ultimately led to the creation of the Icarus method.It’s what I wish I’d learned when I first started trading.
In those days, the naive trader in me didn’t care how I made money trading… as long as I made money.
Now, I understand that while money is important, there are far more important things in life… like time, health and peace. Things that I wouldn’t trade away for money.
I’m done with those days of chaotic, frustrating, emotional roller-coaster rides. I’m done with the shallow thrills and depressive effects of short term trading.
In fact, these days I’m not even present when my trades make money for me.
And all I had to do was to understand how the game of retail trading is played, and position my trades to benefit from that knowledge.
This, I think, is what being an investor is about.
What do you think?
One Million in Two Weeks with InstaForex!
InstaForex always provides you with the latest updates on international market events as well as company's news. Today we would like to tell you about an exceptional situation. Despite its originality, it demonstrates the unique opportunities you can get on exchange market. Recently, one of our clients Akhmad Arief made the daydream of millions of traders real. After two weeks of active trading, he managed to increase his start-up capital up to $1,000,000!
This story began when Akhmad opened his $1,000 trading account with InstaForex in the beginning of July. During two weeks he was trading such currency pairs as GBP/USD and EUR/USD. Nobody expected that he could become a millionaire by the middle of the month using risk strategy!
"We have never seen such trading before and will hardly see soon. Even in conversion to the working days the yield was 100% per day during 10 days in a row. The profit volume is astonishing as well as the length of such win-win and risk strategy as the client used all the money on his account for the next deal. But every time lady luck was on his side," - Aleksey Badjyanov says, representative of the Dealing Department.
The chart shows the balance of #2065757 live trading account. Within the first two weeks of July, the account holder earned over one million US dollars with the initial deposit slightly more than one thousand US dollars. Eventually, the account balance was running $1162092.42. The second half of July appeared to be far less successful for the customer: he lost all his profit.
Having earned $1,000,000, Akhmad decided not to stop. However, Forex market is known to be very unsteady due to frequent oscillations and change of trend directions. Successful deals were followed by deals opened against the trend direction which led to profit loss.
Of course, foregone million disappointed the trader. However, Akhmad is not in despair and is already planning to win again. For him, as for many other traders, this situation was indicative of endless possibilities on exchange market which proved that one can make up a fortune out of modest capital! Nevertheless, it is important to benefit from the achieved results and also not to be affected by the astounding success.
Interview with Mr. Ahmad Ariff
InstaForex: How long have you been working on Forex?
Ahmad Ariff: About 5 years, starting from 2007 until now. Before, I used another platform with another trading system (different from MT4) that limited me to less money I could earn. Then my friend recommended me InstaForex that used MT4, so I can trade higher trading volumes.
InstaForex: It’s a dream of every trader. How did you manage to make fortune from such a small initial deposit?
Ahmad Ariff: Depends on the graf (high-recommended to sell, low-recommended to buy), besides, I used Forex trading signal, RSI, PPO, stochastic, technical analysis, and future fundamental analysis.
InstaForex: What currency pairs have you traded?
Ahmad Ariff: My favorites are EURUSD, GBPUSD, and AUDUSD.
InstaForex: Why have you chosen them in particular?
Ahmad Ariff: For me, fundamental points of these currencies are easier to read and forecast.
InstaForex: What leverage have you chosen for trade?
Ahmad Ariff: I start with 1:200. And I will change this parameter if I need in the Client Cabinet. This is a very attractive feature ofInstaForex.
InstaForex: Did you plan to earn such a huge amount when started trading?
Ahmad Ariff: Of course, yes.
InstaForex: You made a dream of million traders come true, what do you feel after losing it?
Ahmad Ariff: Really really frustrated... I was not in front of my PC when it happened. I was engaged in outside work during that time... so I couldn't close my open position.
InstaForex: Do you plan to repeat it and get a million back?
Ahmad Ariff: Yes!
InstaForex: If you succeed to make a million again, what will you spend it for?
Ahmad Ariff: Clear all my loan, buy a new house, new car, do other investment and some charity's work.
InstaForex: What in your opinion helps traders earn on Forex: their skills or good luck?
Ahmad Ariff: Skills are very important, as a trader, a lot of new traders, should learn some basics, such as indicators, patterns, technical analysis, and fundamental analysis, but good of luck not all traders get it.
InstaForex: Do you think your profit was a result of your hard work or just an accident?
Ahmad Ariff: I've 5 years experience as a trader. It is hard to become rich with small initial deposit, but if you've a lot of money, let's say USD100,000 and more, you can rapidly earn money in short term... believe it!
InstaForex: What will you advise the beginning traders?
Ahmad Ariff: For new trader, please learn some basics, follow your leader, ask them why, why and why and most important is gain experience in trading.
Competent active trading and compliance with you trading strategy make it possible for every InstaForex trader to reach the most cherished objective and add a new name to the list of the most successful traders.
Good luck in trading with InstaForex!
The material is prepared by InstaForex PR Department with the consent of the owner of the trading account № 2065757 Akhmad Arief. In October, in the terms of ShowFx Asia in Singapore there will be a video interview with the trader which will be published on GC InstaForex resources.
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Dipetik dari laman web rasmi InstaForex (27 Oktober, 2012, 04:00 AM)
Nelayan Forex:
SubhanALLAH! Betapa hebat kuasa ALLAH yang Maha Pemurah lagi Maha Mengasihani. Sesungguhnya, tiada yang mustahil dengan kekuasaanNya.
Maka benarlah firman ALLAH SWT di dalam kalamNya; surah Ya-Seen, 82-83:
82. Sesungguhnya keadaan kekuasaanNya apabila Dia menghendaki adanya sesuatu, hanyalah Dia berfirman kepada (hakikat) benda itu: Jadilah engkau! Maka ia terus menjadi.
83. Oleh itu akuilah kesucian ALLAH (dengan mengucap: SubhanALLAH!) Tuhan yang memiliki dan menguasai tiap-tiap sesuatu dan kepadaNyalah kamu semua dikembalikan.
- WALLAHu Aklam -
Khas buat adik-adik yang bakal menduduki:
SPM, SPMV, STPM, Matrikulasi
2012
Semoga ALLAH merahmati kalian dan kita semua!
Amin Ya Rabbal Alamin.
Allah ta^ala berfirman:
Ùˆَاسْتَعِینُوا بِالصَّبْرِ ÙˆَالصَّÙ„َوةِ
Maknanya: “Dan mintalah pertolongan dengan sabar dan sembahyang”.
[Surah al-Baqarah:45]
Ùˆَاسْتَعِینُوا بِالصَّبْرِ ÙˆَالصَّÙ„َوةِ
Maknanya: “Dan mintalah pertolongan dengan sabar dan sembahyang”.
[Surah al-Baqarah:45]
