SG Talk

It started from a chance encounter with a sifu during a lunar new year get together. I was telling him I saw many videos on trading. Is it true we can make money from trading?

My sifu laughed. He asked me how do you know, they did not lose money? If they are making tons of money from trading, why would they share their success techniques. Since the news have reported about scams lately, he told me we should be wary about scams. The 2 most important points in scams is

1. They will entice you with a hook. A hook to bait you on how to make easy money. In trading, its about showing you can make money. Just like a thread like this. Lol
2. They will show you only profitable trades. Giving a false impression that its all profits and no losses. 

Sifu added that he can help me by showing his trades, but first he told me, my trades are confidential, it is my trade secret, I cannot show everything. Also, I don't want you to follow my trades. It serves you no purpose. It is not about showing you the money. It is about knowing what to expect from trading. 

Tell me what you learn from trading. By sharing what you learn, it will make me share more. He laughed.

Anyone who claim to have top skills and refuses to show trades is potentially a scam.

Trading is about winning vs losing trades. Your winning trades is like in 40-60%++.

Keep losing trades small. Hopefully yr winning trades is bigger than losing trades on per trade basis.

Regarding choosing stocks, entry and exits.... need to self study.

My sifu says he has a 90% win rate.

I laughed. It is not possible.

He says he can provide proof. But he cautioned. Don't just looked at his trades. Learn from it. He showed he deposited $800 on 13 Jan 22.

See below.

Day 2 14 Jan.

My sifu showed the trades he executed. Wow all profits.

His account grew to $1040.13
Winning trades = 10
Losing trades = 1
Win rate = 90%

My sifu has grown the account by 30% over 2 days.

Amazing, I told him. You get returns in 2 days others take years to achieve.

He laughed. Don't be too happy. There are always losses in trading. The secret is pay high respect to risk.

Anyway 2 days of trading and 30% return in trading profits is nothing to shout about. He laughed

(03-02-2022, 03:04 PM)sgbuffett Wrote: [ -> ]Anyone who claim to have top skills and refuses to show trades is potentially a scam.

All these gurus will start showing off their winning trades to lure investors in. Once they gained confidence from the investors, they will starts scamming game. Always trust yourself and not anyone.

(03-02-2022, 06:01 PM)Gemstar Wrote: [ -> ]All these gurus will start showing off their winning trades to lure investors in. Once they gained confidence from the investors, they will starts scamming game. Always trust yourself and not anyone.

That is why it has to be live or audited.

Any thing else is rubbish.

IMO real sifu make money quietly and do no boast and show off 99% 'sifu' out there are questionable.

If can make money why still need to get it from students? Right??

Walaneh..........if only I find the the money, sure become rich in no time.

Earn from students easier than trading lol

Sifu asked me what is my expected return on investment.

I struggled to answer. I don't even have profits in some years. In fact, most of the times I had incurred losses.

Then he told me, if you want to learn trading, then you will need to find the right way to trade, best if you can find a mentor to guide you. Not everyone will open their trading books and let you follow. Especially, if these trading books are showing daily trades. It adds more credibility to the mentor you are following.

I nodded in agreement.

So what happened to your next trades? I asked.

Day 3: 17 Jan

Sifu showed only 2 trades completed. Both positions closed in profits. Account now at $1072.
Winning trades : 12
Losing trades : 1
Win rate: 92.3%

I noticed something in his account. I asked him what it is.
See below on account. It is showing running profit or losses at -$90.

(04-02-2022, 06:48 AM)Showmethemoney Wrote: [ -> ]Day 3: 17 Jan

Sifu showed only 2 trades completed. Both positions closed in profits. Account now at $1072.
Winning trades : 12
Losing trades : 1
Win rate: 92.3%

Ok, ok.  I am very super convinced.  Can show me how to learn from your sifu?  I willing to pay $5k to learn from him.   I will become his disciple and call him sheetfool errr I mean sifu

Sifu says this is his trading position that he is holding overnight. Most of the time, he would closed his positions by the end of the trading days. However, there are days, he would allow overnight positions.

A overnight position that is running losses? I asked.

Yes. He replied. I don't win all the time. But I also don't just cut my losses just because the trading day has ended.

(04-02-2022, 06:51 AM)Showmethemoney Wrote: [ -> ]I noticed something in his account. I asked him what it is.
See below on account. It is showing running profit or losses at -$90.

I also noticed something in your sifu account. He every trade only earn very little. How to survive?

(04-02-2022, 06:54 AM)Showmethemoney Wrote: [ -> ]Sifu says this is his trading position that he is holding overnight. Most of the time, he would closed his positions by the end of the trading days. However, there are days, he would allow overnight positions.

A overnight position that is running losses? I asked.

Yes. He replied. I don't win all the time. But I also don't just cut my losses just because the trading day has ended.

Quick!  Teach me now!!  I will give him all my OCBC card details and bank details!! Quickly now!!

Does it mean these trading positions can turn into profits? Hmm.. I wondered.

I am not an intraday trader. He told me. However, by limiting your trades to intraday, you would minimise alot of risks. Not everyone can stomach losses by holding overnight and trading these positions the next day.

Oh, then how do you decide you want to hold overnight? I asked.

My trading system says so. He laughed. One thing I follow strictly is my trading plan. Even for overnight positions, I do have stop loss positions in place to take care of the losses, so that I can sleep soundly.

I also laughed and farted at the same time

(04-02-2022, 06:58 AM)p1acebo Wrote: [ -> ]Quick!  Teach me now!!  I will give him all my OCBC card details and bank details!! Quickly now!!

Yeah man. Give him ur login password also. All Ocbc, DBS, UOB account. Quick quick hehehehe

(04-02-2022, 07:54 AM)Rainforest Wrote: [ -> ]Yeah man. Give him ur login password also. All Ocbc, DBS, UOB account. Quick quick hehehehe

Yes, in double quick time!   

Day 4: 18 Jan

Hmm... did the open position on 17 Jan close? I asked my sifu.

Let us take a look. He showed his trades on 18 Jan. He explained all his trades were closed. The long interest showed he pay an interest for holding the long positions on 17 Jan. 

All positions closed at a profit. Wow.... Let me tablulate.

Days traded: 4 days
Profits: $1234.
% gain: 54.25% gain
Winning trades: 18
Losing trades :1
Win rate: 94.7%

(04-02-2022, 11:00 AM)Showmethemoney Wrote: [ -> ]All positions closed at a profit. Wow.... Let me tablulate.

Days traded: 4 days
Profits: $1234.
% gain: 54.25% gain
Winning trades: 18
Losing trades :1
Win rate: 94.7%

Good luck to you.  I am happy for you.  Please make more.

He showed me the statement summary to show all positions closed. See below.

(04-02-2022, 06:55 AM)winbig Wrote: [ -> ]I also noticed something in your sifu account. He every trade only earn very little. How to survive?

Ah.... with 90% winning rates. These type of system is usually small wins and account not big like 7 or 8 digits.

In big accounts, you have to use those with 30-60% win rates with min risk:reward 1:2 and above to win big. Keep losses small.

My sifu trading a 100m USD account..... with just 30%++ win rates. But still managed to have 200% gain on 2021.

Sure, in this free for all mkt, there must b a sure way to make money one....robotic analysis is one way , just like using robotic calculation for toto, 4 Ds n other forms of gambling

There will always b the super duper intelligent minds around