Technical Analysis of the Forex Spot Markets using Elliott Waves, Chart Patterns, Candlesticks and other tools. Disclaimer: None of the comments in this blog shall be construed as professional trading or investment advice.
Wednesday, February 25, 2009
Saturday, February 21, 2009
King of the Micro Contest
Looks like trading contests are getting more popular. A friend just told me about it, so I thought I share it here.
There's a King of the Micro Contest coming up by FXCM. Participating Criteria is rather simple, just make sure you have an account with USD500 in it. Person with the highest percentage increase for the month will win prizes up to $25k.
Before you jump in, do realise that joining in such contests typically encourages over-trading (why else would they have such contests). Many people do exceptionally well, and many others completely blow their accounts.
If you are up to the challenge, I'd recommend you take out all but the minimum USD500 for the contest, and enter with your eyes open to the risk of blowing the account. I think if one does enter this contest, it is mostly with a all-or-nothing attitude in an attempt for the $25k prize.
Good luck!
p.s. this is not an advertisement, and I get nothing from FXCM for this.
There's a King of the Micro Contest coming up by FXCM. Participating Criteria is rather simple, just make sure you have an account with USD500 in it. Person with the highest percentage increase for the month will win prizes up to $25k.
Before you jump in, do realise that joining in such contests typically encourages over-trading (why else would they have such contests). Many people do exceptionally well, and many others completely blow their accounts.
If you are up to the challenge, I'd recommend you take out all but the minimum USD500 for the contest, and enter with your eyes open to the risk of blowing the account. I think if one does enter this contest, it is mostly with a all-or-nothing attitude in an attempt for the $25k prize.
Good luck!
p.s. this is not an advertisement, and I get nothing from FXCM for this.
A Singaporean Trader's Story
There are many books out there (like Market Wizards) which compile stories of how different traders became successful. But sometimes, these stories can seem quite distant.
Somewhere closer to home, one of our own Singaporean traders has shared his journey as a trader. From being a blind follower of what others say, to feeling overconfident, to (almost) becoming backrupt, to rising from the ashes like the legendary pheonix.
Even though he write more about the stock market, the psychology of it all is applicable across all markets. Enjoy!
http://www.sgwayoflife.com/articles/MyStory.html
Somewhere closer to home, one of our own Singaporean traders has shared his journey as a trader. From being a blind follower of what others say, to feeling overconfident, to (almost) becoming backrupt, to rising from the ashes like the legendary pheonix.
Even though he write more about the stock market, the psychology of it all is applicable across all markets. Enjoy!
http://www.sgwayoflife.com/articles/MyStory.html
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