Meeting of the Forex Tripatite

Haha. We met on Saturday. And here I am talking about the meeting on a Tuesday morning. In any case, Firman, Eusof and I met up for a little chat of how we're doing and our approach and foreseeable future in the world of money.

So we had the usual talk. Firman's got a job that can potentially give him more than 2.5k a month. Of course, they expect lots of talant and hardwork from him. And it's a major international marine paint company that just started to venture into Singapore's shipping sector.

Eusof is, well, not very interested in going for any sort of training with any company. He has gone for a marketing company's training so far, and find it full of motivational crap. He's supposed to go for another company's one next. Apparently this company sells oilfield investment to the retail investors, with the minumum to invest as little as 20k.

Now Eusof's direction is mainly to look for ways to boost his passive income. I suppose that makes sense, but I thought that can be done in one's free time, which means time apart from an official activity (like having a job, and tuition, for me). But pretty good direction there. After all, I'm also trying to make sure I can receive a sizeable sum of money that I don't have to work for during my varsity days and beyond.

And, of course, we talked about forex. And, putting aside the possibility that Firman wouldn't have time for forex trading with his involvement in a new job, we decided we should go into an experiment. The basic concept is this. Based on Firman's experience in poker strategies and my understanding of a winning horse-betting system, and Firman's current system of hedging, we decided to try out this system that would basically trade in cycles.

So we would start with a small percentage of our total tradeable volume. And based on our own sets of indicators of reversals and trends, we would trade using standard stop loss and target profits levels. So based on a fixed risk-reward ratio, and the doubling method of increasing our trade amount for any subsequent trade to include the profits of the previous losing trades as well, we would experiment to see if this system works its magic.

So now the next step would be to find out what's the target profit and stop loss level. Firman suggested we find out the historical minimum daily pip ranges and take 2 levels off that. 75% and 50%. And we'll take one each and see who comes out doing better.

Now that's a cool experiment. And I'll be going for a course in July.

Anyone cares to join me to make some money?