Secrets of Singapore Trading Gurus - Alvin Chow

Secrets of Singapore Trading Gurus - Alvin Chow  

Hard Truths About Making Money in Stocks, Forex, Futures and Options Trading

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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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