THE REALITY OF FOREX TRADING... MY VIEWS AS OF APRIL 2010...

One thing that I love about trading is to deal with the uncertainties that the market offer every now and then. The fundamental though, remain the same, but still the dynamics and the volatility are no different compared to when you are sailing on the Pacific Ocean... where you open yourself to any kind of storm, turbulence and even tsunami.

The point is... only the strong will survive. 

Without proper knowledge, skills, experience and preparation before you start sailing, there is little chance that you will make it back to the shore.

So, what has this to do with this posting? 

Nothing much actually as I just want to update and reiterate on my latest view on this market that at least some of you would appreciate, apart from counter checking my own understanding. 

Guys, the biggest fact of all is that trading is a game of probability where no one, no one can get it right 100% of the time... regardless of how fail-safe or sophisticated your system is... I've been there... I've done that etc etc... and yes, it is not easy... 

Otherwise my account would have reached that 6 to 7 figure level already...

But... for sure there is a profitable way to approach this market that is neither too complicated nor too hard for you to understand... since the answer will always play around the word of patience, discipline and risk management. Believe it or not?

Anyway, back to the topic above, there are 17 facts that I would like to share here that some of you may find it common, but still precious to you to really digest... 

1.      To make money in this market, you have to get it right. 

2.      Volatility is the scariest part of trading where a profitable trade could turn to a loser and vice versa.

3.      You can never fight the market force.

4.      Money Management is your insurance, the one that will protect you when you are wrong.

5.      System versus Probability. There is no system that can predict the market movement 100% as movement and price actions are direct consequence of market players’ action.

6.      The market is pre-dominated by fear and greed from the market participants.

7.      The big players in this market are the Central Banks, the tycoons, George Soros, institutional traders as well as brokers who are known as the market makers.

8.      Do not fight the trend. The trend is your friend, but not the market.

9.      In any trading day, big news are the major market movers.

10.  The best hours to trade is the European Session to London Session close, between 3pm until 12am midnight.

11.  Some brokers trade against their clients, some even operate on bucket shop basis

12.  The most difficult aspect of trading is to have the patience.

13.  The most demanding part of trading is to have the discipline.

14.  Psychology of trading is another key component in trading.

15.  To be emotionless is almost impossible, though doable.

16.  No one can answer the question WHEN in trading.

17.  Anything is possible here.

Till my next post... Safe Trade...

THE IMPORTANCE OF VISIBILITY...

I have just gone through our yearly performance cycle review and some of the best area of improvement that I personally received consist of (from both my peers and superior):

1. To enhance my visibility.
2. To be more strict with contractors. I am seen as being too soft and nice.
3. To enhance my networking beyond electrical circle.
4. To attend all meetings that I am scheduled to attend, regardless of what...
5. To show more energy and stamina
6. To speak more and tell everyone that I am around
7. To be more focus and serious with my job (what the &^$%^*@!). I am not serious all these while?

Anyway...

Well well well... I love feedback as well as critics, but to certain extent, it could be too much for me to handle.

You see guys, the point here... These are all perceptions and those written above could be very very subjective, as to who made such claims, and the way they perceived me... unless something that are supported with facts and evidence.

When the company is making a 360 degree assessment on everyone especially the bosses, it was first perceived as something that is very good and positive for all the staff in the company.

But then when I look closely at the way the system is being executed, there are definitely defects here and there which are widely opened for rooms of improvement.

Hence, to cut my babbling short on this topic, I really want to reiterate on the "visibility" topic.

My question is - Define Visibility?

According to Wikipedia...

In meteorology, visibility is a measure of the distance at which an object or light can be clearly discerned. It is reported within surface weather observations and METAR code either in meters or statute miles, depending upon the country. Visibility affects all forms of traffic: roads, sailing and aviation. Meteorological visibility refers to transparency of air: in dark, meteorological visibility is still the same as in daylight for the same air.

Hahaha... you may be laughing reading the above definition as those are not the one meant by the bosses when they mentioned that I am hardly visible.

My definition is simple - to be seen working, hardworking, good, stylish, confident, charismatic, never say no, deliver as well as hardly against your boss' opinion and/or instructions.

Well, if you disagree with me, just keep it to yourself, I don't want to know.

What I am trying to share here is that, at one point or another... you don't have to be honest with your job or at what you are doing. What matters is what people (I mean your Bosses and colleagues in particular) know and see you are doing that matters. Can I simplify this further? For sure yes...

Just tell your Boss at what you are working on and make sure he knows and appreciates whatever that you are doing, because that really matters in terms of performance.

Working honestly, quietly without bugging any people is no longer perceived as smart or good nowadays, though we Muslims have always been reminded to work base on "LillahiTaala" (or because of Allah the Almighty alone).

To make things worse, even after delivering a very good result, you... still be perceived as not good enough due to not being visible enough to everybody.

In my case, I have reasons to justify why my visibility is being questioned though physically I am a big guy...

The factors to my invisibility are mainly due to:

1. I do not brag at what I am doing though I am a very systematic and procedure-wise engineer.
2. My direct superior is 3 steps higher than my current position, hence not easy for me to get his time
3. I have been alone leading this Electrical Section since the beginning of this project, so I didn't have anyone to delegate and spent more time to tell everybody at what I was doing. I didn't have time for that...
4. I have too much work to do for the company that I tend to forget that people around me start losing sights on me, even my close colleagues.
5. I believe when everything is ok and smooth, people thought you are not doing anything.
6. Those nay-sayers are taking advantage on my less-talk-act-more policy and hence took me for granted. They could ask at least...
7. We hardly care for each other in this big organization. We mainly care about our own ***.

True or not, it's up to you to believe... but to me that is what's happening.

The facts in hand:
1. I completed this project with electrical leading the rest of the other crafts.
2. I did my job, even more than what I had to do...
3. I didn't hurt anybody along the process...

Now when it comes to performance cycle and rating... all those good jobs are forgotten and it's all about who's who... and who will defend you in the board room.

Like it or not... This is the fact that not only me, but everyone is facing... and I am tired of this... but what choice do I have... Am I given the chance to explain myself? I don't think so...

After all the world is not fair to everybody... right...?

Have A Nice Day...