Are you a FIT trader?

If you want to survive as a trader, you’ve got to do many things right, consistently right. The weak-minded and those with an inability to stay dedicated, disciplined, consistent and motivated, simply do not make it. They lose. You don’t want to be them. Snipers has created their trade plan. They are suppose to stay dedicated, disciplined, consistent and motivated, and stick to their trade plan. I would like to share with you what happen during yesterday evening in Sniper Club. How we work together as a team so that everyone stay on guard [I thought this is the basic, because we are traders, every single trade we take involve money, whether win or lose]. My team leaders are under great press

Master that ONE strategy

Do you have too many strategies on hand? Have you ever focus on ONE to become a Master of It? To get good at anything, you must focus on that and only that. Whether it’s learning to paint, playing a sport or ANYTHING – you will never get good at it by having scattered and broken focus. Similarly, focusing on one thing helps you get good at it faster, obvious, right? But most traders overlook this fact in their quest for fast-money. Focus on ONE setup will help you to make money faster than if you try learning 20 different trade signals and strategies all at once, it sounds obvious, but it seems to be human nature to try and do and learn too much at once, resulting in exhaustion and giving up

Following your trade plan

The topic on "commission" pop up again during lunch. Many TMI has converted back to retail due to the recent membership fee increase. Of course we feel the "pain". Once you let go of TMI, your commission will revert back to retail rate. For SiMSCI, it is now S$10.70 (include GST). Die hard fan of SiMSCI? No problem. I believe Tom has lots of strategies to let you 'ride the trend' so that your trades are not affected by commission. [RDV is coming, do drop by and listen to his talk] Traders who are like me (i.e. swing trader), we have to choose our option carefully. A better option is to move into higher time-frame. Let's take a look at our 2 "hybrid" trained trader's trade plan for SiMSCI. [t

Are you a Specialist?

The people who make money in trading or any other profession all have one thing in common: They are specialists. They specialize in one narrow field or focus, and they own it as much as they possibly can. That specialization results in higher pay / more money because most people have not focused on that one thing as much, so they do not know how to do it well, they aren’t as good at it. Same thing in trading; most traders lose money because most people don’t’ have the discipline, patience, focus and passion to commit just ONE THING. For Snipers, most of them wanted to be a Fibonacci specialist, and that is the main reason, they are with me. Just last night, they have more than one such oppor

Have a plan & Trade your plan

Sniper Club is having a new "game" again. This time, they have to submit their trading plans and can only execute their trades base on the plan submitted. If you have been following my blog posting, you know that I emphasize a lot on position sizing. So in this game, I have set the position sizing to: minimum 2 & maximum 3 (in real trades, they can enter as per their normal position size, but, for the game purpose, it will all be downsize to 2 & 3 lots). We are now 3 weeks into the game. Top 3 traders have one thing in common -- consistently doing 1, maximum 2 strategies to achieve the consistency in getting the money from the market. 2 traders are consistently trading the most powerful weap

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Futures Trading is speculative and is not suitable for all investors. The risk of loss in trading can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. This brief statement cannot disclose all the risks and other significant aspects of the Futures markets. You should therefore carefully study Futures Trading before you trade. Information and trading tools provided in and through this website are for general information purposes only. All investments involve risk, including potential loss of principal. Clients must consider all relevant risk factors, including their own personal financial situation before trading.