How many times have we read a book, attended a seminar, watched an online video, learnt a strategy from a friend – tested the strategy for a few days – then give up on it? What are we really after? A quick fix and fast money?

Some of the metaphors used by traders to describe the market are a woman, war, and a game, to name a few of the more common ones. As an example of the game or puzzle-solving metaphors, Richard Dennis says, “It’s like playing a hundred chess games at once.” Pete Steidlmayer says he’s “solving the markets.” Paul Tudor Jones sums it up with, “It’s a game, and money is a way to keep score.” These professional traders do not trade for fun, they take trading seriously and treat it like a business.

After years of studying traders, the best predictor of success is simply whether the person is improving with time and experience. Many traders unconsciously acknowledge their lack of progress by continually jumping from one system or methodology to another, never gaining true proficiency in any. As a result, these people end up with one year of experience six times instead of six years of experience.

In contrast, the superior traders gravitate to a single approach-the specific approach is actually not important-and become extremely adept at it.

Learn a sound and robust trading strategy and most importantly, stick to it. Money management and position sizing make sure you stay in the game so when opportunity comes, you will be rewarded.

With a 24 hour market, there’s no better asset class to trade than foreign exchange (forex). But how do you trade forex if you have a job, a family and other hobbies to attend to?

The key is to identify which part of the day you are free to trade, and develop a strategy to suit your trading time zone. European market hours are common for breakouts and volatile markets, while Asian hours are known to be quieter – a haven for swing trading.

Of course, there is also the dimension of timeframe. If daily charts are too “slow” for you and missing trading signals is a concern, you can trade the smaller timeframes such as the hourly or 30 minute charts. Just take note that many indicators are more effective on longer timeframes because there is lesser noise in the market from rapid fluctuations in smaller timeframes.

An easy way to trade forex part time is to utilise forex signals. These services send you an email when a trade signal is initiated, and all you have to do is whip our your mobile or laptop, and execute the trade based on the instructions in the email. Easy as that. Be sure to exercise position sizing and risk management so that your account can weather short term drawdowns and live long enough to realise the full potential of the trading system. Last but not least, make sure that the forex signals provider is credible.

It has been written over and over again that 90% of forex traders lose money. What if you had taken the opposite positions of these traders? That’s what some brokers do. And they make up the 10% that are profitable.

In forex, it is possible for the broker to take the opposite positions of clients. Upon account opening, you most likely would have indicated your trading experience. From this information, brokers can consolidate the newbie forex traders, and take the opposite trading positions. This stacks the odds in their favour.

Of course, this practise is not without risk. But like casinos and insurance companies, the risks can be measured and managed. If a newbie trader turns out to be a profitable trader, you simply stop trading opposite him. If a newbie trader takes on a position size you cannot “fight with”, avoid taking that opposite trade.

So, how can you be a forex broker? Round up your friends who only just started trading, and get them to share their trades with you. You can then take the opposite position and yes, profit like a broker.

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The US dollar rallied to its strongest in nine months against the Swiss Franc as falling stock prices spurred the demand for perceived haven of US currency.

According to Bloomberg, SNB policy makers, led by Philipp Hildebrand, will keep the franc’s minimum exchange rate at 1.20 per euro when they meet in Zurich tomorrow

Referring to the daily chart on USDCHF above, prices are currently trading above the Kumo. This suggests to traders that the market is feeling bullish about USDCHF. However we note that the Kumo is thin. Typically the thickness of the Kumo cloud suggests the strength of the support or resistance. The thin Kumo therefore suggest to traders that the current support zone represented by the Kumo is weak. This is a factor to consider when trading the pair.

USDCHF has a neutral Tenkan Sen Kijun Sen crossover. This is subsequently followed by prices breaking above the Kumo, further skewing the odds towards a bull trend in USDCHF.

Multi time frame analysis is always important in technical analysis. We examine the weekly chart to give us more information on the bigger trend direction.

Following a weak Tenkan Sen Kijun Sen crossover, USDCHF is testing a thick Kumo resistance. As indicated earlier, a thick Kumo suggests the resistance is strong. Thus it is more difficult for bulls to penetrate the strong resistance zone. That said, if the strong resistance is broken through, traders must pay attention to this strong bullish momentum. As of writing, USDCHF is trading above the 50% retracement key level from the last high made during Apr 2010 and the last low made during July 2011, as shown on the chart above.

In conclusion, traders need to pay close attention in the coming weeks for a break above or failure to break above the Kumo resistance on the weekly chart. This needs to be combined with the observation on daily chart that prices are in a bull trend with a weak support. While it is more prudent to buy dips than to sell rallies, traders should navigate with caution until the weekly Kumo resistance is broken through.

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The largest financial market in the world is forex market in which you can trade in currencies online. In this market you can sell and buy currencies virtually and make quite an amount of profit on the change of the rates.

When you are located in Singapore, you can trade with the leading brokers in Forex Trading Singapore and secure the investment that you have made. All financial markets, which include forex always responds to economics events and news. This is why many Singapore Forex traders are looking for economic news that is important in order to open trading positions. Usually it is seen that some well-known economists and analysts give the forecast even before the news is announced. Thus when the news comes out and the forecast coincides with it, the reaction of the market is insignificant. However, if the forecast and the result are different the market goes through turmoil to react to this mismatch.

The basic rules of trading on news are that you have to buy a forex currency during a situation when the data or the news is better than its forecast, and sell the currency when the actual data is worse. You should ideally stay out of the market when the forecast matches with the actual data. However these rules are not the be all and end all of forex trading. You have to understand some basic points too while trading in forex. These are elucidated below.

• The forex market always reflects the forecast and actual data.
• The movement of a currency pair, whether it be weak or strong will depend upon both the value of the data and the technical analysis after the news has been released.
• If the data in the news differs from the results of the technical analysis, this in all probability is a strong signal that the direction in which the forex market is moving will undergo a change very soon.

It is recommended that all forex traders inSingaporeavoid trading by just considering fundamental analysis but also combine it with technical analysis. You should work only with important news and ignore the minor data that you may find in many economic calendars. You should plan your actions at least half an hour before the official release of the news.

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We are not wired to live alone. In his book The Neuroscience of Human Relations, professor Louis Cozolino says that “without mutually stimulating interactions, people and neurons wither and die.”

Relationships gives us perspective on our unique strengths, on which trading ideas are likely to gain traction, and helps us understand how we can get moving on, and devote our best effort to, the work that really matters.

Finding fellow traders in your city may be no easy feat, despite the internet offering numerous online trading forums and twitter groups. Many of the greatest trading ideas are gathered in small groups, and the practise continues to benefit those who go to the effort to instill it.

These small group meetings can curb the loneliness which traders often face trading alone at home, and serve as a source of encouragement during periods of draw-downs. The size of the ideal circle varies. Some people prefer a smaller circle for the increased level of intimacy it provides, while others prefer to have a large group in order to leverage greater diversity of thought and experience. While the composition of your trading circle can vary, you want to invite people whom you believe you will have the ability to connect with in a meaningful way.

Having a circle of fellow traders can make your trading journey more enjoyable and fruitful.

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The Turtle Traders experiment proved to the world that one trading concept can be taught to many individuals, and replicated successfully. This is very similar to franchising a successful business, which in essence, is the founders’ purpose of outsourcing growth and expansion to other entrepreneurs – his franchisees.

Can trading be outsourced then? Say you have your own strategy and you would like someone to trade it for you, and free up more of your time? You bet. Trading systems can be programmed based on your strategies so they execute trades automatically.

These algorithms lack the singular force of nature we could always count on throughout our years of flipping stocks, futures, and currencies: they operate without the twin emotions of greed or fear.

That’s right, trading bots won’t panic when they find themselves on the wrong side of the market and won’t get euphoric after good news delivers a windfall profit. In other words, they don;t act or resact to the financial makrets like you are I, our neighbours, or those suits on Wall Street.

Most market players will fail due to a lack of discipline rather than a lack of knowledge. Despite that great truth, most of us are uncomfortable with the subject matter because we have deluded ourselves into thinking we are discplined individuals when we are not.

By outsourcing our trading to systems, we eliminate the discipline hurdle – assuming you do not override your own system!

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Retirement is the final period which most people dedicate their life enjoyment. Finally, they do not have to think about work, kids are grown up, grand kids are on the way.

In many Asian families, grandparents busy themselves looking after grandchildren, as their kids are usually pursuing their careers.

How nice to live a stress free retirement you might think. But not every one is that fortunate. Truth be told, many retired personnel are looking for side income, because they still have loans on their mortgage, and medical bills to pay.

But the new age economy, with the ease of outsourcing, and cross border foreign talent, has eroded many retirement jobs. There are almost always younger and more relevant people and skills which can do the job, at half the price.

The only way out is to build an asset of your own. Or accumulate assets throughout your career. This can be achieved by purchasing quality stocks for example.

However, there is a new business you can set up which is fast, cheap, and you can do it from home – A Trading Business. The business of trading forex or stocks is lucrative, flexible, and real. For job holders, this can be a side income. When you retire, it is the asset that brings you income. The skill of trading lives with you forever.

Start your very own trading business today and build an asset for yourself! Utilise the numerous resources on www.asiapacfinance.com

If you are in Singapore, set up your trading business with us.

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