Forex Army Academy

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Forex Army Academy

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Desmond Leong, Founder Of The Forex Army And Everest Fortune Group Shares What Running His Forex Community Taught Him About Trading #myfirsttrade

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Over the past 12 months, more people have been attracted to the business, possibly motivated by the promise of quick profits and low start-up capital. There are many financial instruments that we trade such as stocks, bonds, indices, forex and commodities. Unlike long-term investments, if we decide to trade these materials in the short term, we do not need to buy and hold these assets. Instead, by using Contract for Difference (CFD), we can have exposure to all these different assets.

Among which, the largest and most traded market in the world is foreign exchange, also known as forex. Similar to investing in other asset classes, we make money when the price of the currency moves ahead of us. However, when it comes to forex, the price of one currency is often quoted in another currency. For example, if you are buying EUR/USD, you are buying Euros using US Dollars (USD). You earn money if you do

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Forex trading is sometimes seen as more risky due to two main reasons. First, forex trading is a zero-sum game. For one party to gain in their business, the other party has to suffer a corresponding loss. Second, many traders also use leverage to increase the size of their positions. This will mean that sudden market movements can cause your profit or loss to increase.

To better understand what traders can expect in trading, we spoke to long-term traders in Singapore.

One of them is Desmond Leong, founder of The Forex Army, a trading community that provides free tools and guides for traders. Desmond is also the founder of Everest Fortune Group, a research firm that provides research and analysis to institutional investors and entrepreneurs. We also spoke with Jason Lee, a trader who is skilled in using macroeconomics to trade stocks, currencies, stocks and options. Jason is also the Chief Investment Officer at Quantum Edge Consultancy, where he helps companies find financing, investment and M&A opportunities.

Desmond Leong (Desmond): I started my first year of university. The general idea is that if I can do business well, I won’t need to go through those lectures and seminars anymore.

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Jason Lee (Jason): I started investing when I was 19 years old, after being inspired by reading a book. Unfortunately, I got burned when I entered the stock market and placed my first trade during the financial crisis in 2007/8. I lost all my savings during that time using dream trading in my mother’s trading account.

After a bad sleep, I was looking for answers and started reading many books to improve my knowledge. However, it is not enough, I found that there is more than I know about the market, things like sector cycles, economic cycles, the relationship between FX, equities, fixed income and stocks. Once you start join the course to improve yourself to gain more knowledge and skills.

After 4-6 years of constant trading and many mistakes, I was able to develop my own strategies. Not all strategies work on the same asset class, every Forex pair or every market. Each brand has its own behavior as traders trade it differently and you will need time to understand it.

Forex was the last instrument I entered and what attracted me was the liquidity, low spread, low market manipulation, and high volatility. Those are things that suit my trading strategy, allowing me to trade over time from regular trades to day trading. Each process requires a different analysis system and, thankfully, I was able to quickly adapt to all these trends and develop skills.

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Now, I manage approx. about S $1.5mil in investment and achieved an average of 30% per year for my investors.

Desmond: I tried some strategies on a demo account for a while before moving to a live account. I feel that the amount of experience you get trading a $1,000 live account is 100 times more than a $100,000 demo account – because you feel the inner battle of stopping your losses, revenge trading and closing profitable trades. advance, even if it is only a small amount that is traded. With a demo account, there are no skins in the game.

Jason: I was a little gung ho and started with a live report. Demo accounts work for some people, but I’m the one who needs to make money online so I can learn quickly. For me, having real (but small) money on the line, allows me to focus better, and can take the business I do more seriously. After all, feelings and emotions are different when you trade real money versus virtual money on a demo account.

The best way to start trading would be to start with a demo account, familiarize yourself with the platform, try some test strategies, then when you’re ready to focus more, put some money into the account and trade. important. In the early stage of trading, you will always face losses, but always keep your losses small, so when you find a winning strategy, you can quickly and cover your losses quickly.

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However, when you add your trading account, you may encounter many winning streams that make you satisfied and start adding your account. It happened to me and caused me to lose a lot of my capital at that time.

Desmond: It’s hard because I don’t know where to start and maybe the victory I got was fake or because I “broke the rules”. I don’t keep a journal or take an accounting approach to business and so I can’t say if I’m making any progress.

I ended up going to all those lectures and finishing my degree. I have blown up about 7 accounts. I think I have sworn to trade at least 5 times when the time is too long.

I learned three important lessons. First, if you can do it with $1,000, you can do it with $10,000. This means, don’t log in with a very large account if you don’t have the confidence to trade with a small account. The same is true when we teach people

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