An introduction into Forex trading – the Bobby Bok’s experience

Bobby Bok is into Forex trading.  Following the heels of other SHCians who have offered to share their knowledge on their own private investments,  Bobby would be giving an introduction into Forex trading. 

  • Date:  Thurs, 26 Aug 2010.
  • Time:  1600 – 1800 hrs.
  • Place:  Cafe, inside MPH Bookstore, 63 Robinson Road.

As with all investments, there are risks and rewards.  So, come along with open eyes and ears.

Thanks Bobby.

Terence Seah

Registration list:

  1. Terence Seah
  2. Bobby Bok
  3. Kenneth Tan
  4. Richard Baey
  5. Lydia Chin
  6. Weng Hong
  7. Lawrence Lee
  8. Ronald Lee
  9. Hou Chong
  10. Peng Peng
  11. Charles Chua
  12. Keep coming.

32 thoughts on “An introduction into Forex trading – the Bobby Bok’s experience

  1. Hi Kenneth and Richard,
    Welcome to our chit chat session. Richard, I think we have met before, I remember you are in this “Mind” education business and you also trade FX using EA, or robot automation trading. I took a course in FX from Kishore and he claimed a 100% success rate in some of the seasonal trade including currencies,index trading, stock and commodities.We shall briefly discuss on how he derived his 100% success rate so claimed. I do profit from some of this seasonal trade. cheers..Bobby

  2. Hi Bobby,

    I would like to pop over, if my schedule permits. Wish you could hold it between 12noon till 2pm, during my lunch hour break!

    Regards, Lydia.

  3. Hi Lydia,
    You are welcome to join our chit chat session if your schedule permit but I think your job is more important. If you really like to learn more on this forex trading you can always attend some of this forex trading preview given by those forex trading companies like CMC markets, City Index and some other companies who are expert traders themselves like my forex teacher/mentor Kishore.The previews are often held after office hours in the evening and on weekends. I must admit I am not an expert in forex trading and just learn what forex trading is about in the last 2 years. It is just another form of trading and like any other trading, there are risk involved and they are not suited for everyone.But it is good to know what is forex trading and how “this so call guru” trade using their various techniques and strategies. Cheers..Bobby

  4. Hi friends,
    If you would like to get detail information on how to get into forex trading you may like to go into this site http://www.fx-trading-education.com/articles.html which provide a very detail description on forex trading education. Forex trading is very similar to trading stock and shares; Dennis Har, one of our fellow SHC member got an interesting website that provide a host of link to the detailed information, strategies and videos on both stock and forex trading. You may like to visit his site at http://www.singaporenetworkers.drivehq.com/ Cheers..Bobby

  5. Even though the numbers are smaller for this forex intro group, we will proceed to meet at 4pm.

    With global equity markets still staying down, and the dollar takinga dip against the Euro, what are the trading opportunities for forex trading? Bobby, I look forward to meeting you tomorrow.

    Terence Seah

  6. Hi Terence,
    You are right, the US dollar is taking a dip against the Euro in the last 15 years for the period from 1 august to 15 sep. This present a good opportunities to buy the Eur and hold it until the 15 sep and then exit/sell your position and according to this MRCI seasonal trading website(it is a pay subscription service)we can made a profit of US$830 for 1 standard contract.Out of the last 15 years the euro rises/strengthen against the US$ for 15 times and therefore my FX teacher/mentor claimed it is a 100% success rate if we do this trade. We shall discuss this further tomorrow in our chit chat session. cheers..

  7. Hi,

    In this investment column, I have some facts to share.

    Do you know that …., be it in the financial market of Stocks, Options, Forex, Futures, ETF, Indexes, Commodities, etc., that about 90 percent of individual investors lose money in their investments? This leaves balance of only 10%, which is then broken down to 4-6 percent break-even and 4-6 percent consistently making money, and the majority of these 10% are professional traders and Fund Managers. What is your chance as a first time or amateur investor?

    Having known these facts, not many people actually know WHY. Is it merely because of their lack of knowledge, skills, attitude or just pure bad luck?

    To be successful in the market, you either have to become an expert yourself or to seek help from real successful experts. The financial market is such a brutal place that there is no room for half-expert or expert pretenders.

    If you are still keen to be a trader, the solution is EDUCATION and EDUCATION. Trading is a skill you have to master first before you can trade. Are willing to spend time to learn and the learning cycle is 2-5 and up to 10 years depends on you. If you are lucky, you may meet a good guru who can show you sound strategy and long term success personally and that can reduce your learning cycle.

    Due to many rumors and myths about Forex Trading, people are skeptical about it. But those learned and skillful investors who are making consistent $$$ will say it is the best meaty part of the meat. We have a few live examples. Why Forex? Reasons are we need a liquid, volatile and trendy market to capture profits fast. Having open position in the market for long is high risk. There are a lot to learn… heheee.

    So…. Bobby, I see you tomorrow after my visit to Blood Bank. We can have a chit chat.

  8. Hi Charles,Hou Chong,Ronald,
    You are most welcome to join our chit chat session.#13, Ronald, I agreed with you 100% and therefore during our chit chat session to be honest with you all, I will not be encouraging those who are not trading to go into this type of forex trading or day trading in stock or index etc without a thorough education and going through lot of practise through demo trade,etc. But as an experienced trader yourself I am sure you are aware that even if you are successful in the demo trade, it will not automatically mean that we will be successful in the real live trade. I myself had bad experience with these trading firms, they can easily spiked up and down the prices to take our stop loss and in the long run that is one of the reason why 90% of the traders lose money. Good money management,placing stop loss, position sizing and good understanding of the pyschology in trading are all important consideration for a successful trader. Trading whether forex or stock or index are all a game of probability and it is also a zero sum game. I attended a course conducted by Kishore and this seasonal trade seem to be one of the more fruitful lesson learned. The above MRCI website for which the subscription cost $588 per year provide information for the type of currencies, commodities,bonds and indexes to be traded at a certain period and they give the exactly probability of the trade to be successful for the past 10 to 15 years. I will provide you a copy of the August month recommendation tomorrow when we meet at the chit chat session.But again there is no guarantee that it will work for this year. Cheers..Bobby

  9. Bobby,
    With so many advertisements and free previews promoting earning good income from trading in the media these days, I am just voicing out to those who are lured to think trading is an easy way to generate income. At our age, we may not have tolerance for another mistake.

    On the other hand, if one is prepared to learn and have the time and determination. I encourage you to master this skill. As the saying goes “…. Learn how to fish and it’ll feed you for life.”

    But please understands that understanding the market thoroughly is very important and also how the game was played. To be a good trader means able to get in and exit a position in a right timing manner. If you are RIGHT, god blesses you. When you are WRONG, knowing when and how to get out with very minimum or no loss is a skill.

    Bobby, gtg. See you later to continue the chit-chat……

    Cheers.

  10. Hi guys!!

    Sorry I had to leave while the “chit-chat” was going along so interestingly. It did not turn out to be a forex lesson… but I guess it was not meant to be.

    The problem is that there are so many levels of interest and experience within the group that I think the expectations of some may not have been addressed. I don’t blame anyone; it only highlights the indvidual differences and investment objectives. This is why it is so difficult to form an investment group where there would be a consensus approach to investing. Different styles, objectives, risk tolerance, different instruments, different views, etc.

    But I think that this should not stop anyone from coming forward and give his/her take on investing/trading. There’s always something to learn and experience shared.

    May I take the libery to update my China Fund on this post:

    As at 20 Aug, I closed out Telestone Tech (TSTC) which hit the stop loss of 10%. The total fund today stands at $44,901 with $8,142 in cash. A bad time to be long in stocks although China has not lost as much.

    On this subject, Bobby was showing the correlation between the Dow and the STI. Yes, I believe that global markets are now so inter-connected that what happens in the US will impsct the rest of the world.

    Also, another point brought up by Bobby: we can invest into good companies (when their stocks are at lows) like SGX and SPH as part of our longterm investment strategy.

    Happy investing… and trading!

  11. Hi Bobby

    Thanks for session yesterday.

    I think many of us benefited from the sharing during the session.

    As introduced during the session, the book, “Trading Naked: How To Make Money Trading Price Patterns” is written by Dr Foo, a fellow Singaporean and an experienced trader for over 20 years.

    If you are interested in the book, I am offering the book to all SHC member at S$ 60.

    You can drop me a mail at richard.baey@gmail.com should you need more information pertaining to the book.

    Happy trading.

    Richard

  12. Hi guys!!!

    Thanks for the session and indeed we have had a good discussion. In following up on what I have suggested during the chit-chat, if you are interested and have the time and determination, please drop me a mail at ronaldxxlee@gmail.com with some of your suggestion, if any.
    Cheers.

  13. Hi Kenneth,Ronald and Richard,
    Thank you for coming and also sharing your own experience, I learned just as much from you all during the discussion. Charles and Chong Hou also shared their knowledge in how to get the best deal if we want to buy or exchange foreign currencies in the physical transaction. As trading in forex is a probability game, we have to study the chart and its trend. For the period from begining of August to 15 Sep, the market research expert from MRCI confirmed that the Euro will have almost 100% chance of moving up. I take this chance, walk their talk and bought the Euro this morning at 1.2716 when the hourly chart show 3 white candle all moving up. I take profit just now when it move up to 1.2760 for a 44 pips gain which is US$440 profit within a day for 1 standard lot. If the Euro drop again to the support level at around 1.2700 level/also depending on the chart analysis,I will probably buy again on the dip. Yes, Ronald have a good suggestion to meet up and trade together and share our trade especially in forex the market is so large everyone can benefit from a good trade.Please email me at bokth@singnet.com.sg or bobby88@gmail.com. BTW, gmail now provide free phone call to USA and Canada mobile and land lines for this year. Cheers..

  14. Hi Bobby,
    Congras on your profitable EUR/USD trade today. This is very encouraging to novice and others. Thank you for sharing and leading the discussion on Thursdays. I certainly learned lots and looked forward to joining you guys again.
    HC

  15. Hi SHCians

    With attention to Ronald Lee, Henry Yip, Bobby Bok, Kenneth Tan and with due respect to your fair comments, my take is the main reason we perish in the financial markets is (1) when speculating we tend to bet big and without realising the unaffordable huge potential losses which can occur, (b) when investing in the stockmarket, we tend to take quick profits and not sticking out for a longer term growth of capital.

    The Dow was up 160points on Friday 27th, thus this sentiment may spur the STI to bullish trading at least during the first hour of Monday 30th. Indo Agri & Ezra @ 2.20 and 1.70 respectively are worth picking up and likewise the three counters where Peter Lim has a stake, vis-a-vis Rowsley, Healthway and Informatics.

    Our punts for the past week:-
    Mon 23 – bought 30lots Golden Agri 54.5
    hit-and-run Genting 10lots 154/58 nett $92
    Tues 24 – contra 30lots G Agri c/f 20th’s trade 55.5
    against 55.5 loss $117
    contra previous day 30lots G Agri 54.5/55.5
    nett $185
    Wed 25 – bought UOB 18.46
    Thurs26 – no trading
    Fri 27 – hit-and-run Olam 5lots 2.64/68 nett $106
    contra UOB @ 18.72 nett $130
    bought SIA 15.26 and G Agri 30lots 53.5

    Regards

    Abel Tan

  16. Hi SHCians

    The August month has turned out to be the Ninth month since we started punting shares from May’2006, which yield more than $1,000 profit to be shared between the two of us.

    To recap – Monday 30/8, contra 30lots Golden Agri bought
    on Fri 27/8 @ 53.5 sold at 54.5 nett $180+

    Yesterday 31/8 Tues, hit-n-run 10lots Cosco
    154/57 nett $190
    Bought 1 lot City Dev 11.18

    Today Wed 1st Sept contra City Dev 11.10
    loss less than $180

    regards

    Abel Tan

  17. Last evening, I attended a short presentation which previewed the “How to be a Smart Trader, Mentorship program”. Frankly, I was excited by the prospects that the program promises. Unfortunately, the next course is scheduled at a time when i am not in Spr. I am wondering if any of you attended this course before and if you did, could you kindly share with us, how it has benefitted you.
    HC

  18. Hi Hou Chong,
    I attended the forex course and some other stock courses but not this particular course. Alot will depend on yourself. If the course cost a couple of hundreds maybe it is worth going through the course but if it cost few thousands then personally I think it is rather on the high side. You can get a lot of cheaper courses but also got some v good mentors from SGX Academy and even free 2 days course from CMCMarkets if you open an account with them. We have been discussing on how to be a good/smart trader and it takes good discipline and education to practise and master this trade. Education wise you get google all this knowledge from the internet but of course it also depend on your level of interest and determination to master this art of trading. Cheers..

  19. I agree with Bobby, I also did not attend that particular course, but hv attended two option couses years back and have friends attending other similar courses. The few days of learning is not enough. Most people still struggle to apply what they learned and lost monney or can’t start with real money. So, its all boils down to your own hands on and determination to succeed. The courses will load u with so much info that confuses everybody.
    few hundred dollars maybe ok, but not $2000 or more.
    try getting free info or read books or use common sense

  20. Hi Bobby,
    Thank you for your advice. I will certainly look into some of those courses which you have recommended. The program mentioned in my #25 was aimed at coaching those who are interested in trading stock options. Shall avoid giving any details here for good reasons. However, i will provide you with the particulars on a private e-mail.
    FYi, I shall commence trading FX and US stock Index CFDs. by next week. Lots more to learn for me and hope to do that quickly and with the least damages.
    Thank you once again for the many useful pointers.
    HC

  21. H Weng Hon,
    Agree, I have met people who are technically overloaded and defeated by the sheer weigh of data, some contrasting and others conflicting. Knowledge is useful but personal feel is perhaps the crucial factor. FX is not new to me.
    From time to time, We need to find out if we have the guts to do well.
    HC

  22. Hi SHCians

    The STI appears to be trending higher and barring the unforseen, my take is it can scale a further 100points.

    For those who can hold, you can select among the mainline stocks.

    On Friday 3rd, we hit-n-run Genting HKong on 30lots @ US34.5cts/35.5 and gross US$300. This counter may follow its sister company Genting Spore as a punting stock.

    Regards

    Abel Tan

  23. …The STI trending higher (agree, 80% chance)
    bought guoccoleisure at 60.5cts last thursday
    Monday may hit high, buy in the afternoon or the next few days or on retracement…don’t chase
    Hotel, leisure, marine, agri stocks are good bet now… property..hmmn..not sure but I will not touch

  24. Hi Terence, Abel, Bobby….

    Do you think we can have Forex trading sharing session or investments again this year. or anyone who could be giving an introduction into Forex trading.

    Thanks.

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