Hi ladies and gents, RKay here.
Thanks for visiting my forex blog and I hope you find the information here useful in your quest to make to make money trading forex. If you wan’t to know a bit about me well… I do have a bit of interesting story to tell.
I’m Not A Professional Forex Trader
First up, well, I’m not a professional forex trader, I do not trade forex for a living, nor do I trade a million dollar forex account. I still have my day job with a love and hate kind of relationship.
But… I have made a ton of money and lost a ton of money trading forex than most of you reading this right now and I am still not there yet.
Some of you dream of making only $2,000 a month in forex trading and you’d be happy. I’ve made $3,000 to $10,000 profits many times in a single day of trading and you’d think I would be happy with that, right?
Well…that’s kinda funny because tell you what? I wasn’t happy with that.
There were days were I was making more money in a single day of trading than what I am earning in a month in my day job, but I was not satisfied.
Let me give you a few examples of what I’m talking about here:
I’ve lost Heaps Too…(by the way…typo below on the “loosing”…it should be “losing”)
The Big Million Dollar Question Is: why wasn’t I happy with what I was getting?
Greed, Fear, You Name It…
I’ve Achieved Forex Success Only To Be Humbled By Greed, Fear, You Name It…
- You talk about making$2,000, $5,000, $8,000, $10,000 and $15,000 in forex profits in one day, I’ve done that.
- You talk about losing $2000, $5000, $8,000 or $10,000 in one day of trading, I’ve done that.
- You talk about blowing up how many live trading accounts, I’ve done that and I know what it feels like cuz I’ve ridden the highs and lows of live forex trading in my own scale and capacity.
- You talk about taking a $3,000 trading account to $8,000 and blowing it up after 3 months, I did that… Or taking a $8,000 live account to $22,000 within 2 months and blowing it up within one week, I’ve done that.
I’m not telling this to brag. That’s my story.
Am I A Successful Trader?
Nope…not yet…I still have my trading demons to fight with and I don’t think I have won the battle yet. I’m still grinding daily in my day job.
I have seen and tasted success in forex trading but being a high risk trader, I’ve made a lot and lost a lot just like Fred…But I’m not ready to quit forex trading yet.
I’ll admit, I do have one big problem when it comes to forex trading: my mindset is not right.
I do the things I know I’m not supposed to do when I’m making a lot of money or losing a lot of money.
If you’ve never traded forex, you will never know what I’m talking about here.
You see, demo trading is really different from live trading. When real money (your money) is on the line…you tend to act and think very differently. In other words you become a different “animal” as the saying goes.
Only after you’ve crashed then you’ll come to your senses and you’d realize that you should not have done what you did. But its too late.
When you trade forex with live money, this is what happens.
One bad thing about me is that I really don’t have fear of losing money. Maybe because I know that If I lose a forex trading account, I can fund it again and trade??? I’m really not sure.
I guess that’s one thing good about me but it can also be really bad thing too.
Well, because I don’t have any fear, I tend to take huge risks and sometimes those huge risks I take tend to pay off big time. I make huge profits.
And guess what happens next?
I think I’m invincible…my winning runs will continue… So I continue to take huge trading risks after I have really BIG wins.
I wanted to make MORE money.
So usually, my greatest periods of losing happens right after I’ve had big wins. And those big trading loses happen on just a few handful of high risk trades and then my forex trading account is really in a VERY SORRY STATE.
It is the mentality of trying to get rich quick overnight that is my greatest weakness and should there come a time when I really change from that habit, that would be the day I move forward in my trading.
So essentially, that means that I fail in my forex money management rules.
It is not my trading systems that fail me. Its not that I don’t know forex money management. It goes back to what I said above about mindset.
Believe me, the price action forex trading strategies I use are really solid and this is not based on anything else but this-their risk:reward ratios are really excellent.
It is not impossible to get good home run trades where the risk:reward is like 1:10 and above with these price action trading systems I use.
My Wife Says She’ll Kill Me If I…
Well, to be quite honest, she has never said that…she is a really good woman.
She has watched me how many times blow up thousands of dollars of forex trading profits up in smoke time after time.
And each time, I promise her I’m going to be different next time…the next time comes around and I do the same thing…again.
Then I fund my forex trading account and I tell her, this time, I’m going to be different. But I’m the same old me again.
Sometimes I feel that I’m like a reckless gambler that gives away my wins just too soon and not enjoy it.
You know what I have found after all this time?
I’m my own worst enemy in forex trading. Greed is my biggest downfall and this is what I tend to do:
- I tend to risk too much in on a few single trades that I think would be extremely profitable.
- and when that single trade goes wrong, it wipes out my entire profits that I may have worked so hard to accumulate over many months.
Don’t Trust Me…Believe In Yourself
From these, I’ve learnt a thing or two about forex trading so take my ideas and advice with a grain of salt cuz I’m not a pro forex trader…
I still have my day job to keep paying the bills as well (which I’m guessing, most of you are in the same boat). I cannot pretend to be somebody I’m not.
Forex Trading is something I do on the sideline.
So if anything on my forex website makes sense, accept it, if you think it is bullshit, so be it.
This website is my avenue where I can rant about things like forex trading strategies, indicators, articles, tips and tricks and what I have learnt which I believe can help you.
I may write about many other forex trading strategies, systems and indicators on this site but that does not mean I will use them or I have used them in the past.
My Trading Style
I’m a 100% price action trader.
My trading relies on trendlines, support and resistance, candlesticks, price patterns.
These Price Action Trading Strategies I use are really solid trading strategies.
If you want to know how I trade, then just subscribe to my free forex signals below:
If you are new forex trader and want to learn about price action trading, there are many price action trading courses you can buy or you can get my free forex price action trading course and you don’t have to spend any money at all.
Price Action Trading Strategies I Use
- Trendline Trading Strategy
- Trendline Breakout Strategy
- Broken trendline Breakout And Re-test strategy
- Support and Resistance Trading Strategy
- Diagonal Price Channel Trading Strategy
- Inside Bar Trading Strategy
And I apply these trading techniques to the above forex trading strategies:
- multiple timeframe trading
- patterns with pattern (advanced multiple timeframe trading)
- top 10 reversal candlestick patterns (the trigger to buy or sell)
Want To Learn To Use These Strategies?
Well, just follow my forex trading signals. Every forex trading signal/setup can have any one of the forex trading strategies above in action.
You will get notified days in advance what kind of price action trading setup is happening and if you know these forex trading strategies above, you can then trade those setups.
I post regular weekly or daily forex trading signals and trading setups based on price action trading.
If you have been following it, you’ll see what I mean and you’ll pick out what type of trading strategies I use based on the trading setups I post regularly.
I spend more hours staring at MT4 Charts Than at My wife… (Not a joke, just stating the obvious).
Note also that there are many forex trading strategies and systems available on this site just so that you can have a lot of options to choose whatever trading systems that fits your personality.
But remember that I do not use all these trading systems. That once that I use are mentioned above.
Don’t Be Surprised If…
I do have have a keen interest in business and economy, politics, religion and the world events that are happening around us.
I also don’t believe everything I hear or see on TV or any media outlets. I do take everything with a grain of salt. Call me a conspiracy theorist.
So I’m just warning you, there will be times when I will write posts about such topics but written in the overall context of investing/trading etc and these may not sound like something relating to forex trading which this blog is really about.
But hey, you can’t crucify me for that, can you? As I have said, this is a blog where I can “rant” so you have to put up with that.
I’m just warning you.
The Secret To Forex Trading Success
If you want to be a better forex trader than me, then learn from what I do wrong and do the exact opposite.
Learn from what many forex traders do wrong and fail and do the exact opposite.
What do many forex traders to wrong?
- take huge trading risks
- trading too much (overtrading)
- not following money management rules.
- revenge trading
It is not rocket science to figure that one out…Its simple as that.
But you know what the problem is? It is much easier said than done…believe me.
The day I quit my job that currently funds my crazy forex trading exploits then I will let you know.
Right now, that job is what funds my forex trading.
As Trader Jack Pointed Out
You may spot spelling mistakes etc…
Fact be known, I’m not writing and blogging in here to win a literary award in English language.
So if you spot a spelling or whatever mistake, I hope that that mistake is not so huge as to confuse the heck out of you to understand that information that is being presented.
There will be times when I will recommend products that I’ve used myself so you can benefit from them as well.
These my include:
- trading books,
- trading education
Everything on this forex website is for educational purposes only and should not be taken as an investment advice.
If you don’t know what that statement means, then its this- I don’t want to get sued by anyone including you reading this right now.
So…If you decide to use the forex trading strategies , price action trading course, the forex trading signals, and any tips and tricks you learn in here to start trading forex then know that that is your responsibility and I cannot tell you how successful or unsuccessful you will be when you do that.
Sounds fair, right?
Oh, that’s my story in short by the way…in case you are interested
Many profitable pips to you and thanks for visiting.