Sunday, July 24, 2016

Trading in forex and indices

Dear Mr Tan,
In the past 2 years, I have been trading part-time on Forex and Indices using CFD. My record thus far is S$102,000 profits and S$117,000 loss. So net of this a loss of S$15,000. 

With this record, it makes me ponder what I may have gone wrong. After much thinking, I realised that my trading mentality may be not as strong. Therefore, I started to look out for Gurus who can help me on this. There are many Gurus out there and the fees they charged are ridiculous expensive as you know. 

However, I always believe pay peanuts get monkeys. Therefore, the fees are not the part that worries me. The part I am unsure is the credentials of these Gurus. Who are really the best and really in the game? Who really impart their knowledge to their students?

I hope you can name a few of these gurus who I can seriously consider to attend their training courses.

TKL - I do not believe that there are good gurus who can help students to develop the skill of trading. If they are really good, they can become billionaires by trading on their own.They do not need to make money from teaching their skills.

Thanks for the prompt reply Mr Tan. I read the same thing from an investment book about these courses. That's why I feel I am stuck at my current situation.

TKL - In my view, it is not possible to make a living by trading. Over the long term, you are likely to lose a large part of your capital

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