COMPREHENSIVE NEWS TRADING, THE ONLY FORWARD:
The Week In Review: 03rd to 07th November, 2014.
The past week witnessed a lot of events ( see my earlier post of the calendar of events)
and I made it clear right from the beginning that the number of events is not
proportional to the number of trades one could have. With a total of about 22,
for consideration, only two offered me the opportunity to place trades which I posted
immediately. We could have gone through the entire week without anything to trade.
It happens all the time. The third event would have been the ECB Press Conference.
where I was expecting the ECB President, Draghi, to make a definitive statement as
to when exactly the EU ABS program would take off. He used the exact words earlier
used: 'very soon'. Although I knew the EUR was seriously under pressure to sell off,
I did not take a trade because I do not do HALF MEASURES, that is, I do not consider
' insufficient notions' in my trading strategy. Once I do it, the temptation to repeat it
will always be there to haunt me. Check my post on the ECB Press Conference, I said
that I was sure the EUR would weaken and that I was not going to trade it--period.
Policy decisions and principles are necessary in forex trading, especially if you want to
become a professional forex trader, just like what I am trying and working hard to become.
I use News Wire Service principally, because of Press Conferences, not just for the reports.
The two LIVE TRADES were successful in the first week and that has recorded a Success To Failure
ratio of 2:0. We shall continue to update it weekly, even if no trade-able events in any week.
MY VISION:
I want to achieve Success:Failure ratio of 9:1. I do not know what level I have reached so far
but I need members of the public to assess it for the benefit of all. I am a high volume trader
and I do not believe if you are a professional forex trader, you should trading one or two
standard lots. For me, that is meaningless. I cannot "waste" a whole five years of my life,
(well, not a confirmed "waste" yet, unless I am able to achieve my aim, it will be a WASTE)
researching on how to successfully trade the forex market to be doing a few standard lots.
I have a focus: that is Trading, and Trading, and Trading. I do not have any intention of
running educational or mentor-ship programs. My concentration is purely how to trade for
a living. My minimum order volume is $1M, 10 standard lots and my maximum is $10M, which
is 100 standard lots per trade. You can then see clearly why I cannot afford to be
complacent. Since I use a C-Trader Platform, I use a very tight Stop Loss of 30 to enter
a trade, because of volatility and I quickly adjust it to 10 pips, after the price action has
stabilized. I also set the Automatic ;"BE" feature to 10 pips, that is, the Stop Loss should be
taken to BE (Break Even) when the trade has made at least 10 pips of profit.
Not only that, I also activate the Trailing Stop (Steps) feature to between 10 and 20 pips
depending on the type of trade, in order to lock in profit for me in case of spiking trends.
I do not recommend any of my systems to anybody because forex trading is not a
one method thing. You have to evolve a method that is suitable for your trading style.
This is the reason I went into the research in the first place. I have conquered
"fear factor" and because of that I can confidently post my LIVE TRADES here.
I do this in three forums by way of giving back to the society. Some people will
not like this at all. Who are these people? Your guess is as good as mine.
If I trade my accounts and make money, why should I want to take your money?
Do not pay a dime for any software or hardware, robots, systems, mentor-ship
EAs,Rubbish technical analysis, trading formula etc., be wise. Let them trade their
accounts and they can even make you copy their trades. You are just buying HISTORY.
If you read my initial thread, you would see how I joined the Forex Peace Army
in 2007 and participated in the LIVE TRADE ROOM. Since I was not satisfied with
the performances of the Moderators, I decided to leave for SABBATICAL to enable
me find my own strategy.Forex Peace Army still went ahead and published my
discontentment with the Moderators. Not only that, they still allowed me to freely
air my views without editing them. That is Forex Peace Army of Old for you.Once a soldier,
always a soldier. My sabbatical has taken me five years. Because I was inspired
by the Spirit of FPA founder-Felix, I decided to choose this forum as my number one.
Forex Peace Army is known for FAIRNESS, JUSTICE,TRANSPARENCY,DOGGEDNESS
and above all, RACIAL FRIENDLY. Members of the public can testify to this.
Any one who claims to be a forex guru, professor, legend,or "Minster Know All"
and still wants to take your money is a CHARLATAN, FRAUDSTER, CONMAN, or
"A BUCKET-SHOP PROFESSIONAL" apology to Forex Peace Army for the word
BUCKET-SHOP.
Let them trade their own accounts and make a living from doing just that.
I shall publish the Calender of Events for next week by tomorrow.
See you then.
