Tag Archives: forex trading singapore

forex trading secret lottery ticket asiaforexmentor
forex trading secret lottery ticket asiaforexmentor

Would you like to know the BIG secret of Seasoned Forex Traders?

Often you will see seasoned forex traders – I mean those who are making big money from forex trading (not those who are seasoned but not really making a lifestyle)

These guys seem really FREE!

They have lots of time to do other things, enjoy life, entertain BUT they never seem to trade.

However, these guys really do make BIG money in forex.

So what’s the deal?

In my last post –Forex Trading Secret – Tortoise and the Hare Story, I’ve uncovered the key difference of how these professional forex traders trade VS new forex traders.

In this post, I’ll be uncovering the real trading mindset (strategy) they have that makes them really profitable traders who makes BIG money.

Do you want to know it?

I’m going to reveal it to you right now. But i need a favor from you. I’ve locked this content because this is really a game changer. Do support us by clicking on any of the buttons below to unlock the content.

This is going to be a major mindset change, once you learn this, you will think, act and trade differently from now on. And your trading account is gonna grow by leaps and bounds!

The Secret of Seasoned Forex Traders

forex trading tortoise story
forex trading tortoise story

How to be a better forex trader

There are several key points to note for an aspiring forex trader to become a good one and today I’m going to cover what i feel is one of the most important points which separates seasoned forex traders from new forex traders.

Seasoned Forex Traders don’t trade the market

Yes we don’t. Or to be exact good seasoned forex traders who makes money consistently year after year don’t.

What i mean by not trading the market is that – an idea of a forex trader is someone who gets in and out of the market quickly – usually several times a day.

But here’s a fact: Seasoned old professional forex traders don’t do that.

On the other hand, New aspiring forex traders do it.

Why is that so?

It’s because that is how trading would seem fun and “feel professional”. And that’s how forex trading courses are made these days.

Some forex traders will take several trades a day and they are always constantly looking at the market.

Watching areas where they can get in and out very quickly.

They keep biting the market. Biting at every meat they see.

Most of the times, those meat ain’t good meat! They will not make a good splendid tender tasting steak. Those are the meat where when you chew it, you will spit it back out.

What does seasoned old professional forex traders do then?

They sit by their computer, sipping their coffee. Taking their time slowly while browsing the charts.

What are they looking for?

Juicy, tender tasting Premium Wagyu Beef.
forex trading singapore wagyu beef

They are looking for setups that they have already planned. (read that again)

That’s right, they are looking for setups to fulfill or to reach the areas that they have already planned.

For example, if they decide that 1.2000 area is a good area for a buy. They will wait for the market to go to that level and once it reaches that level. They will not get in immediately but would then analyse further to see if an entry there is good to go.

Which means, most of the time, they are just taking their time looking at the market – just like reading the newspaper.

When the market is not nearing the planned area, they continue on doing their own things.
Eg. fishing, relaxing by the beach, taking their kids out etc.

And when the market comes to their pre-planned area, and after they have done further analysis and decide it’s good to go. They go in calmly. I repeat, they go in calmly.

There is no rush, no heart pounding, no emotions.

Everything is slow and steady.

Just like the tortoise and the hare story.

The new traders are the hare – they like to be fast and the good old solid traders are the tortoise.

Which one are you? The tortoise or the hare?

Which is also something that i always emphasis in my training – be it my online forex trading course or in my live forex trading seminars that i hold occasionally.

Quality not Quantity.

Take quality “A” trades not quantity “B or C grade” trades.

When you are trading the market, getting in and out frequently several times a day.

Chances are that there are quite a number of “Bs and the Cs grade trades” which you are taking.

Those trades aren’t going to help you out in the long run. It will just burn the mental strain out of you along time while you ain’t making much money.

Learn to trade the good old man’s way. That’s how I’ve learnt to do it.

When i first started, i was the hare. Biting at every carrot i see.

Ouch that hurts, It burned my accounts many times.

That’s how i’ve learnt quality over quantity.

And i couldn’t be happier with that. It has given me way more time that before.

In the past, I would look at my computer 8 hours a day or more. It was heart pounding, nerve wrecking, stressful. Everything you could think off. I was really skinny back then.

Since I’ve changed, my waist size have gotten several size up. Lol. (not sure if that’s a good thing)
But most importantly, it took a lot of stress away from me and gave me so much time to do the things that i love to.

Talk soon,
Ezekiel Chew

Forex trade setup of the year - asiaforexmentor
Forex trade setup of the year - asiaforexmentor

Million Dollars Trade Setup of the Year?

There’s something i love about forex. It’s that it has the opportunity to make you and anyone in the world RICH with just 1 trade – if they get in at the right place at the right time.

Think about it, if you got in at a spot where you place a buy.

And right after you place the buy, it went up.

And day after day, week after week, it keeps going up.

The higher it goes, the more money you make.

You can trail after the bull run until it stops, and that’s where you get out.

Meaning – YOU can literally turn eg. a $1,000 into $100,000
or $10,000 into a million dollars!

Well I know, there are many things involved: risk management, money management, leverage etc.

But all i’m saying is that, IT IS POSSIBLE.

Just like the trade i did over here:
http://www.asiaforexmentor.com/followup-on-last-month-950-crazy-forex-trade/

In that trade, i said i wanted to see if it’s possible to get this out for a million dollars.

It didn’t.

The time i got out, it was around $670k.

That’s still not too bad. And this is exactly what i meant.

This is the reason why me and many other successful forex traders in the world love trading forex.

It’s probably the fastest vehicle out there that enables us to make big money – FAST, just like striking lottery.

Do you want to achieve a similar result like i do?

First of all, i want to thank you for following and supporting Asia Forex Mentor.

If you haven’t already done so, do “like” us in our facebook page below.

Now that you have “like” Asia Forex Mentor.

I want to share a potential trade setup with you that has the potential of replicating the similar results i achieved in the example earlier.

Are you ready?

Here’s the pair: GBPUSD

forex trade setup asiaforexmentor singapore

“Click on the picture to enlarge it”

In the chart, I’ve drawn a red line in the middle.

That red line depicts the top half and the bottom half.

From 2003 til 2008, GBPUSD was in an uptrend. And that uptrend lasted for 5 years.
When the market crosses the red line in 2008, that’s when the GBPUSD went into a downtrend.

And that downtrend lasted from 2008 til today (2014).

A whopping 6 years.

During this 6 years, it has been consolidating sideways.

It tried getting back up but was always being blocked by the red line.

Which was our pivot level (a support/resistance level)

And that line was formed when it first made a low (marked by number 1 in the chart)

That became the support level.

When it broke in 2008, it came back up to test the red line again. (marked by number 2 in the chart)
and it got rejected at the exact level.

So now the red line has now turned from an old support to a resistance level.

Right now, the market is looking to break out from it’s down trend after consolidating for 6 years.

6 YEARS IS A LONG TIME

Usually with a consolidation for such a long time and when it eventually breaks.

It’s going to be a good strong break.

The upside of it is huge.

Look at the big empty space on the right (marked by the red arrow)

It has the potential to go all the way up.

Now i’m not saying that this breakout could actually breakout this time.

But if it does, the upside is extremely huge.

On the other hand it could also go back down – forming a false breakout.

As a trader myself, i’m hoping it will go up.

And that’s where we will ride it up and trail it for as long as possible.

A little “insight”

Here’s another thing that you could look at.

If you see the recent history.

The chart has been making a green bar, followed by a red bar, followed by a green bar and so on.

Now with that little “insight”.

The next bar could be the start of the breakout. And that could form a green bar on the monthly time frame.

A possible “Million Dollar Trade”

For sure, I’ll be watching this trade very carefully.

Because the profits from it could be huge, which would lead to possibly a new property.

And if you don’t already know, I have now for the very first time in years opened the doors to accepting new students. The number of students that I’ll be accepting is small, MAXIMUM 10. And I train these 10 guys through an intensive 2 days live training in singapore where i will go through the exact system on how i trade and devour the live charts with the real background analysis i do and how to take trades exactly.

If you are interested, you can find out more here Forex Trading Singapore.

Do Share The Wealth

If you find this setup helpful, do “share” this post with your friends & love ones so that they can profit from this as well.

I alone can only reach so much people, and i hope that you in turn, can share this trading opportunity to the people around you.

And if this trade really turns out positive, i’ll be waiting for a nice drink with you here in Singapore.

So do click on the “Share” button below to share the possible “Million Dollar Trade”

Online Forex Trading: Are You A Lion or a Cub?

Online Forex Trading
This is something very crucial in real life and in forex trading.Before we start: Characteristics of a Lion (King of the Jungle)
– Calm
– Powerful
– Confident
– Killing Instinct
Have you watch documentaries before on how do lions hunt?
Although lions themselves are a powerful predator, they still do not go out right up front to the prey and start chasing them from afar.
What they do is that they will fix their target on the weakest prey and move slowly and calmly towards the prey without gaining any attention.
Only when they are close enough and confident of getting their prey, will they Strike.

Online Forex Trading: Are You A Lion or a Cub?

The nature of a lion and how he hunts his prey largely applies to forex trading.
Are you the type of trader who calmly wait for a setup (prey) to occur.
And if there is no setup (prey), they will retire back to rest and come back to hunt the next day.
OR – are you the trader who strikes everytime you see food. But to get themselves a back lash most of the time?
If you are the 2nd trader, you are like a baby cub.
When the cubs are young, their parents will teach them how to hunt.
And not to go out striking blindly.

Online Forex Trading: Are You A Lion or a Cub?

Being calm is the characteristic of a lion.
But when he strikes, he is confident of a Kill.
That’s what a trader should do as well.
We will lie in wait for a setup occurance, and when it occurs.
We will strike it without hesitation.
But if there is no setup, we will retire to rest and do our things.
I hope you find the above analogy interesting, and it’s time to ask yourself.
Are you a Lion or a Cub in forex trading?
Check out our online forex trading AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System & Strategies that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Beginner Article: Picking the Right Entry

Forex Trading Psychology: Your Gun To Wealth or To Death

Forex trading is like a weapon – a gun.
Anyone can hold this gun. But like all weapons, you need to be trained first before using it to fire.If you are well trained, this gun can take you to Greater Wealth.But if an untrained personnel starts firing the gun, it would lead to his death ( Financial Death )
Do you see what i’m driving here?The fact is that everyone can open an account with a broker and starts trading at any point in time. But that does not mean that they are able to use this weapon right?
Like all military personnel, they must undergo lots of weapon training first before giving them live ammunition to fire.The same goes in forex trading.We must undergo forex training first before inputting real money into our live account.

Forex Trading Psychology: Your Gun To Wealth or To Death

The next question comes:When do we pull the trigger of the gun to fire a shot?And before pulling the trigger, are we sure it’s the enemy we are shooting and not our fellow people?
The same applies in forex trading:
Before we pull the trigger, we have to make sure that it is the Right ENEMY. Shooting the wrong enemy will cause us a loss in that trade.
Random shooting will also cause us a loss = Entering trades on impulse.We will only open fire when we have confirmed it is the right enemy and the chances of losing to that enemy is low.That is done through proper training by entering with price action confirmation with confluence in place and a proper money management + risk management system.

Forex Trading Psychology: Your Gun To Wealth or To Death

So the next time before you fire a shot, make sure that you have confirmed it is the RIGHT ENEMY.
Check out our AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System & Strategies that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Beginner Article: Are we just plain scared to trade the lower time frames

Forex Trading Strategies: Which trend should I look? The long term or short term?

Forex Trading Strategies
I believe that this is one of the most important and mind buggling question that most traders face.
Forex trading strategies Example: Forex Pair Eur Chf

In the forex pair above, the overall trend is in a downtrend (marked by the red line)But in the current movement it is in a short term uptrend (marked by the yellow circle)So to say if you are in the current situation – which happens all the time.
Forex Trading Strategies -> How would you trade?
Forex Trading Strategies -> Would you trade up or down?
Forex Trading Strategies -> Would you trade with the main down trend or the short term up trend?

Forex Trading Strategies: Which trend should I look? The long term or short term?

Generally speaking, of course the bigger trend holds more weight right?So should you still trade down?.. Not really..Although it is the bigger trend that holds more weight, it is the short term current trend that depicts it’s movement.The main question lies in what kind of trader are you.
– If you are the type who wants to trail for the long run. Then you should wait for the trend to turn back down and then trade down.
– If you are like me, who takes profits off the table with a reasonable risk reward ratio. Then we will trade the current short term trend.

Forex Trading Strategies: Which trend should I look? The long term or short term?

You see, although the long term is down. But you should NEVER trade against the current short term trend.
Because this short term may turn to a bigger trend. And this short term trend may be the indication of a trend reversal.So, if you have a good profit taking strategy. The answer will be to trade the short term trend and not the long term trend.But of course, the best scenario is that we have the long term and the short term trend in the same direction.It happens, but it does not happen all the time. So in scenarios like the above chart example. I hope you have gotten your answer!
I hope you have gain something from this quick forex trading strategies trade example, Check out our AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System & Strategies that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Intermediate Article: Why you need to look at the big picture

Forex Strategies: Picking the Right Entry

In the chart above – Forex trading pair: Gbp UsdWe can see that on the left hand side of the chart, the pair is making a down trend.However when it hit the bottom and started making “Higher Highs and Higher Lows” (marked by the pink circles).It is an indication that the trend has possibly changed into a uptrend.And you can see that price is making a channel upwards (marked by the red lines)
Therefore in this scenario. Most newbies will still presume that the trend is down, but however with our knowledge gathered above.We know that the trend is changing and is possibly making it’s way up.Therefore we will now take trades that are going UP and not trades that are going DOWN.As taking trades that are going down would mean that we are trading against the trend.

Forex Strategies: Picking the Right Entry

So at the final circle that i marked on the right hand side.It indicates a possibly good entry for us to enter long.
Forex Strategies Reason 1 – It is in an uptrend
Forex Strategies Reason 2 – It is at the bottom of the channel
Forex Strategies Reason 3 – There is a price action – bullish outside bar which indicates a bullish movement up.
Therefore, it will make sense to us to take this trade and it has a winning probability of higher than 50% with the reasons backing the trade.
Lets look at what happened next.

Forex Strategies: Picking the Right Entry

gbpusdup2
Price indeed made its way up to the top of the channel and beyond.In fact it went all the way up to the 150 moving average.So what you can learn from this simple trade example is:
– How to determine a trend change
– Drawing channels
– Entering at the low of the channel with price action entry
– Taking your final profits at the top of the channel.
So in this scenario even though that it went beyond the top of the channel and to the 150 moving.We will still only take profits at the top of the channel as we do not know that if once price eventually hit the top of the channel – Will it turn back down? or head further up?So that is a question mark and when we trade we do not want to take the risk of earning more profits BUT to eventually lose it all.
I hope you have gain something from this quick forex strategies trade example, Check out our AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Beginner Article: What is Price Action?

Forex Robot – Do they work?

There are many questions about forex robot and whether do they work?What are forex robot?Forex robot in fact is the automated way people choose to trade forex with.But the question is whether do they work?If you go research around for real forex robot reviews. You will find that most doesn’t work. Or at least over 90% of them do not work.
WHY?
Think about it, if forex robot do work. Why do banks and major institutions still need chief forex traders and forex traders?They have all the money to develop the best forex robot, why do they still need human to trade for them?

Forex Robot – Do they work?

Then the next question would be, But those forex robot have a perfect 10 year track record.So they should work right…Wrong.
Here’s the fact – track records can be manipulated. And past performance are always not an indicator for future performance.
Forex robot are develop by – DEVELOPERS.
Usually NOT Real forex traders themselves.If the forex robot would make them so much money and have such a perfect track record.How much do you think it is worth? At least for Millions of dollars?But how much are those forex robot selling in the market. Less than a hundred bucks. Feasible?

Forex Robot – Do they work?

The hype in the forex market for automated forex trading WILL be always there.Because people are always looking for ways to earn money on autopilot with just a click of the button.Therefore there will always be new forex robot coming out every other day.If you want to make forex trading your career, take some time and diligence to learn to trade forex.Your future should not be relied on some automated forex robot, it will not work forever. But once you have mastered forex trading as a skill, it will be with you for life.And you can pass this skill on to your future generations.Disclaimer: I’m not saying that ALL forex robot does not work, the above is just my opinion and i will not be held liable or responsible for it.
Check out our AFM winning Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Beginner Article: 950% Growth in 2 weeks example – Why Trade Forex (Part 1)

Price Action Forex – Why Forex Trading is Easy with Price Action?

There are many answers to why price action is king in forex trading. And why price action in fact is the easiest to trade with in forex trading.Let me give you an easy explanation with the chart above.
In the pair above: Eur Gbp
It shows the pair in an uptrend.And if we look into the pair, we can easily spot 5 price action entries for us to ride the trend and to profit on.

Price Action Forex – Why Forex Trading is Easy with Price Action?

Price action (blue box no. 1)
It is a pin bar as well as an bullish outside bar (in combination with the bar on the left hand side)
It is a good indicator for us to take it long with a buy order.
Price action (blue box no. 2)
It is another pin bar for us to enter a buy order had we missed the first pin bar.
This is also a confirmation pin bar to tell us that the trend is indeed going up.
So off it went…
Price action (blue box no. 3)
It forms a bullish outside bar. Look at the long green bullish bar wrapping the previous smaller bar.
Another good price action bar to tell us to take it long.
And so it went further…
Price action (blue box no. 4)
Price move sideways and to form another bullish outside bar.
This bullish outside bar indicates that price is possibly going to breakup from it’s sideways trend.
And so it did.
Price action (blue box no. 5)
Price went sideways again to form another price action pin bar.Another indicator to state that it is going to breakup from it’s sideways trend to move further up.

Price Action Forex – Why Forex Trading is Easy with Price Action?

So you see, in just a pair. We can spot so many price action bars for us to take an entry long.The trick towards trading price action is simple.We usually take price action bars that is together with the trend.So in this scenario, the pair is in an uptrend. Therefore we only take price action bars that is going up. If you look into the chart, you will see price action bars that points down.Those are reversal bars. And we usually skip them. (unless you have enough experience, stay away from reversal price action bars)And you will be glad you stayed away from them as you see, most of the reversal bars did not work out.

Price Action Forex – Why Forex Trading is Easy with Price Action?

So you see, forex trading is not difficult with price action.The power of price action, in combination with a proper forex trading system, trading psychology & money management = Consistent Profits
Check out our AFM winning Price ActionForex Course where i teach you the exact FULL Forex Trading System that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Intermediate Article: Price action bars – inside bars

Forex Coach Ezekiel Chew ask: What’s your winning probability?

Forex Coach Ezekiel Chew ask: What’s your Winning Probability?
Do you have the answer to this question?
If you don’t, then probably you should NOT even trade.It is a very simple question that you should ask yourself before you take every trade.
“What is my winning probability for this trade? “
If it is anything lesser than 60%, skip the trade.You see it makes no sense at all for you to take a trade that has lesser than a 60% chance of winning.If it’s lesser than a 50% chance of winning, why even trade? You are bound to lose on that trade right?If it is a 50% chance of winning. You are betting on your luck.That’s gambling, that is NOT trading.If it is a 60% or higher chance of winning. And if you only take trades that have a 60% or higher chance of winning.Where do you think your account size will go? UP of course.

Forex Coach Ezekiel Chew ask: What’s your winning probability?

Having a 60% and higher winning probability for that trade means you have an edge over the market.You SHOULD consistently take trades that are over 60% chance of winning.But if on occasions where you take a trade that is a 50% chance of winning. You will spoil your entire game and your entire trading plan.That is because you are adding a random variable to your trades.And these random variables will disrupt your account growth.
For example:
Trader A) Out of 20 trades, he take trades that are only 60% or higher winning probability.
Trader B) Out of 20 trades, he takes 10 trades that are of 60% or higher winning probability and 10 trades of lesser than 60% winning probability.
Trader C) Out of 20 trades, he doesn’t care about the winning probability. He just take trades when he likes it or just based on his gut feel.

Forex Coach Ezekiel Chew ask: What’s your winning probability?

Which trader do you think has a better chance of growing his forex account?
Trader A of course!
Which trader trades most like you?
If you are at trader B or trader C stage, you should stop your trading now.
And reflect on this.
This vital question is something that you must ask yourself the next time you trade.
“What is my winning probability for this trade?”
Check out our AFM winning Price Action Forex Course where i teach you the exact FULL Forex Trading System that i personally use to be consistently profitable.
See you on the other side my friend,
Asia Forex Mentor
Forex Coach: Ezekiel Chew
Asia #1 Forex Mentor
www.asiaforexmentor.com
Next Advanced Article: Trend line