Secrets
of Singapore Trading Gurus - Alvin Chow
Hard Truths About Making Money in Stocks, Forex,
Futures and Options Trading
Keane
Lee - T3B Stocks, CFD
"If there is one secret, I would say it is to
let go of the emotional attachment to your money."
Edge: The most profitable way to trade is to get in
before the stocks start to trend. The next best way would be to buy stocks
where the smart money is already in. These are stocks that are in TREND and I
just need to take care of the downside while letting market decide how high it
wants to go. If I am wrong, I cut loss (below support price) and make sure I
only lose a little. When I am right, I want to maximise profits.
60-70% win rates. Cap losses to 8% ride trend profit
for 8-30% return
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Yeo
Keong Hee - Forex
"Yuo need to use your analysis tools in a way
which is different from the majority so that you are not part of the herding
instinct."
Edge: Good
trading strategy to capture trends (sub-trends and sub-sub-trends) or part of
the trends via Daily, H4 and H1 time frame. Use Moving Averages, RSI and
Stochastic but use it differently from public view.
Set of rules for entry (combination of economic
indicators, news events, TA and price action), exit (either winning or losing),
trading size in any one trade - position sizing.
Secret to success lies in how you think and feel
when trading (and not a holy-grail strategy). It is about convincing yourself
psychologically on your trading plan.
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Binni
Ong - Tflow TerraSeeds Forex
"We do not want to look for a short term or
quick way to make money. We want a sustainable way of making money."
Elliot waves (entry), Fibonacci (exit) and price
pattern to detremine entry and exit
Break out methodology and retracement-based
methodology.
Use one main trading account and second micro
account after six to seven consecutive wins likely has ew lossess.
Secret to success would be belief. You have to
believe in the method that you use, or the path you are taking.
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Nicholas
Tan - Forex
"The important thing is not going after the
profit, but it is about looking after your losses. The profit will take care of
itself as long as you take care of your stops."
Be conservative when it comes to a loss and
aggressive when it comes to profit.
Constant trade size irregardless of capital. One or
two standard contracts per currency. Do not open more than 4 or 5 standard
contract per day. Keep maximum loss to
$2000 a day.
Secret to success is trading discipline. When there
is no trading signal, no trade to be done you should not be trading and it is
not a waste of time if you don't trade. Discipline applies to cutting losses too.
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Clarence
Chee - Forex and Index Futures
"Money is a by-product once you become a good
trader."
Daily chart and H4 time frame. 30% discretionary and
70% mechnical. Risk-reward 1:2. Risk 5% in
single trade.
Secret of success is first to learn how to be a good
trader not how to make money.
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Tom
Yuen - Futures
"Do not spend a lot of money tryinf ro buy and
learn magic systems, as the answer lies within."
Derived own system from Darvas Box, Turtle System,
First-hour Breakout etc.
Vanilla Trading - buy and sell according to market
condition. Easy to understand but difficult way to trade
Spread Trading - buy and sell related or
semin-related products and Futures Expiry Roll Over spread.
Options Trading - directional or directionless
trades
Prefer Vanilla intraday Trading suitable for own
temperament.
Use
support-resistance lines, trend lines, channels, Simple MA, Point and Figure.
Position sizing using Rhythm. Once get a good rhythm
increase the size. When rhythm has been bad progressively reduce size until get
back in rhythm.
Two tier of daily trading loss limit. When first
tier loss limit hits check it was me or the market condition that was
unfavourable to determine whether to proceed or stop trading.
Floor traders are day scalpers and trading a very small
time frame no time to calculate risk reward.
Those who failed in trading "chicken
heart" (too much fear dare not pull the trigger) and "ninja" (no
problem firing trades but no problem holding onto losses).
To be successful enter with the right call with the
right position size. He has to be a risk taker and trading is his passion.
Some secret cannot be taught because it will no
longer work if others know about it. Eg. spread trading in Nikkei dollar-based
and yen-based after floor operating hours.
Secret: Learning how to trade is learning how to
live.
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Patrick
Lee - Futures Trading
"I can
decide how much money I want to make. But the market may not allow you to make
that amount of money and you have to accept tht and probably take a day
off."
Spread Trading - calendar spreading and inter-market
spreading between Topix and Nikkei. Day scalping on Simsci.
About 50 to 100 lots Simsci per day if market is
quiet and 200 to 300 lots if active. Target $1,000 to $1,500 a day.
Inter-Market Correlation Trading. Trade Simsci based
on HK, China, Japan, Korea, Taiwan and US to gauge buy or sell Simsci.
Especially Hang Seng Index. If all markets up long vice versa. Discretionary
decisions. Cut loss when correlation fails as 30% chance it doesn't work.
Average 17 profitable day out of 22 trading days per month. Per trade 1 to 5
lots. Account size $100k.
Trade Taiwan at night while cash market is closed or
S&P very liquid during the night.
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Dave
Foo - Options
"This is what I mean by non-directional trading
- the market can go up, down or sideways, and I can still make money."
Trading against the trend on a low probability event
that is going to happen near term. Do not need a strong trend. Basically use a
simple Stochastic indicator for overbought and oversold to decide put and call
options. Sell a put option when indicator is overbought. Risk-reward 3:1.
Risking $3 for every $1 as there is a premium collected when selling option on
US market commodities or futures. Look at probability has at least 90% chance
of profiting before taking it.
Edge: Apply mathematical probability calculator.
Estimate capital $100k for $5k profit a month.
Secret of success: Support from your family is the
most important. Start slow and don't be greedy.
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