Mario Singh spills his secrets to Forex Trading Success
WHEN IN MANILA and a Forex Mentor like Mario Singh visits the Philippines, it’s an event you surely don’t want to miss. I know I won’t. Why? Because he’s THE Forex Trading superstar.
Last March 24, 2012 (Saturday), Mario Singh held a seminar at Fully Booked, Taguig. At the registration, I was able to talk to some of the participants. It was interesting to know that the audiences were very diverse. From professionals, entrepreneurs, long time traders of stocks, equities and forex to people who were just curious about Forex.
The seminar started with Mario Singh introducing himself.
In the forex world, Mario Singh lives the rockstar status. He is very famous around the world, especially in Asia. He has been featured on Channel News Asia, Personal Money, News Radio, City News, Straits Times, FXStreet, My Paper and Your Choice. As a regular guest on CNBC, Mario’s views are widely sought after in the Forex industry. He is also a frequent contributor to top investment magazines like Smart Investor and Your Trading Edge. With a dream of helping every ‘man-on-the-street’ to trade profitably in the Forex market, he created FX1 Academy – the first and largest Forex education company in Singapore and Malaysia. At present, He has already touched the lives of over 10,000 people, helping them move closer to their goal of financial freedom through Forex trading.
Mario’s unique ability to keep Forex Trading simple has drawn thousands of people from all over the world to attend his Forex Trading programs. And finally, he decided to come and share his knowledge here in the Philippines.
According to Mario, before all his Forex Trading success, he was a chemical engineer with no idea how the Financial Market works. What got him to be interested in Forex was an incident when he was watching television. While flipping the channels, he chanced upon CNBC (a Financial Channel). Mario was dumbfounded on what he saw. He had no idea what were they talking about. Curious, he made his own research and watched some more financial channels. This was the time Mario got attracted to Forex trading. He was amazed that it was a 24-hour market – very liquid with small start-up capital. Also, he learned that brokers offer leveraged trading and that you can trade in your own time zone. Also, Forex Trading offers plenty of good trade setups everyday and with low transaction costs, Mario was definitely hooked.
Do you want to know how Mario got so good trading Forex? Here is Mario Singh’s secret: He got himself Forex Mentors! Not just ordinary mentors, but he chose the best of the best. Initially, he didn’t know much about Forex trading, so he searched for people who were doing great with Forex trading and asked them to teach him. Among them were Kathy Lien and Ed Ponsi.
As Director of Currency Research, Kathy is responsible for providing research and analysis for GFT. She also runs an FX Signal Service BKForex Advisor, with Boris Schlossberg – one of the few investment advisory letters focusing strictly on the 3 Trillion/day FX market.
Kathy is a “Trader First, Analyst Second.” She publishes both technical and fundamental research reports, market commentaries and trading strategies. A seasoned FX analyst and trader, Kathy has direct interbank experience. Prior to joining GFT, Kathy was the Chief Strategist of DailyFX.com and worked in JPMorgan Chase’s Cross Markets and Foreign Exchange Trading groups using both technical and fundamental analysis to trade FX spot and options. She also has experience trading a number of products outside of FX, including interest rate derivatives, bonds, equities and futures. She has taught seminars around the world on day and swing trading the currency market.
Kathy is also one of the authors of Investopedia’s Forex Education section and has written for Tradingmarkets.com, the Asia Times Online, Stocks & Commodities Magazine, MarketWatch, ActiveTrader Magazine, Currency Trader, Futures Magazine and SFO. She is frequently quoted by Bloomberg, Reuters, the Wall street Journal, and the International Herald Tribune and has appeared on CNN, CNBC, CBS and Bloomberg Radio. She has also been on a few episodes of Wall Street Warriors, hosted trader chats on EliteTrader, eSignal and FXStreet, sharing her expertise in both technical and fundamental analysis. (kathylien.com)
Ed Ponsi is the Managing Director of Barchetta Capital Management LLC, an NFA registered Commodity Trading Advisor. An experienced professional trader, Ed has advised hedge funds, institutional traders and individuals. Ed has made numerous television appearances on CNBC, CNN, the BBC, Bloomberg TV, Fox Business News, and ForexTV, and has been profiled in magazines such as “Technical Analysis of Stocks and Commodities” and “Traders Journal” He is the author of “Forex Patterns and Probabilities“, a top-selling book on currency trading which is now available in simplified Chinese, and “The Ed Ponsi Forex Playbook“, which was endorsed by Steve Hanke, Professor of Applied Economics at The Johns Hopkins University
Ed has made over 50 appearances on CNBC, and has taught sold-out classes in New York, London, Singapore, Dubai, and other cities across the globe. He is well known his unambiguous analysis of the currency, commodities, and equities markets.
Ed is a Wall Street professional who gets right to the point. He believes that in order to navigate the markets, traders must have a thorough understanding of technical analysis, fundamental analysis, and risk management. They must practice discipline and exercise self-control, and apply a rigorous planning process before entering trades. It is never easy and it is not for everyone.
All of this started innocently enough; Ed began just like many other traders, with a strong desire to succeed, but without a plan for doing so. He decided to remedy this problem by going straight to the heart of the matter, taking a position for a boutique Wall Street trading firm. It was there that he first became exposed to professional traders and their strategies, and began to create the techniques and methods he uses today.
The success of Ed’s first book, “Forex Patterns and Probabilities“, thrust him into the spotlight, and was followed by its equally successful sequel, “The Ed Ponsi Forex Playbook“. Both books are published by Wiley Finance. (fxeducator.com)
According to Mario, having a Forex mentor can dramatically cut short the amount of time and effort it takes to become consistently profitable in Forex trading. What most first-time traders do not realize is that while they waste their time by jumping from one trading system to another, they could have already been a profitable trader. Choosing the right mentor to follow is one of the smartest things a trader can do.
Below is a check list from Mario Singh on how to find a good Mentor:
- Credibility – if he is capable of performing and he is trustworthy.
- System – if he has a way of passing the knowledge needed for others to also be successful.
- Results – always check the achievements that he has accomplished.
Mario’s program suits not only the experienced trader but also beginners who have no idea what Forex Trading is.
Here are some key points I got from the seminar.
3 Laws of Forex Trading
-Mario was very particular teaching us mind conditioning. As you can see in the graph, it’s 55% of the skill you need to be successful in Forex Trading.
-Money Management skills can save your account even if you only win 40% of the time. How cool is that?
-You must follow your chosen Strategy. Write it on paper and follow it to the point. Don’t let your emotions change how you trade.
According to Raul, here are some questions we need to ask before we deposit our hard earned cash to our chosen broker:
- How fast can I open my account? It should be easy with lots of ways on how to deposit and withdraw.
- Can I open my account without documents? If they don’t require documents, that’s a red flag, stay away from that broker.
- How fast can my funds reach?
- How much trading bonus can I get? (You can get good deals and bonuses but beware of scams. A lot of fake brokers are marketers and not registered)
- Is my broker from US or UK? (better to get a UK broker because there are more restrictions in the US)
- How well known is my broker?
- How big is my broker? (do they have the capacity to be a broker? Check their bank)
Mario didn’t end the day without teaching us one of his secret strategies. It was a detailed Forex system which had been giving Mario consistent profits for years. Sorry readers, I guess this strategy will be left in the hands of the participants =)
The event was indeed a success. I have a feeling Mario Singh will be back to inspire more Filipinos to trade Forex. A huge thank you to Mr. Shyan Lim and Jaslin Chua – organizers and personal friends of Mario Singh, for making this event possible = ) I hope the Philippines will be part of Mario’s big vision – to create 1 million enlightened millionaires all over the world through FOREX TRADING by the year 2020.
Check out Mario Singh in his CNBC interviews:
Mario Singh spills his secrets to Forex Trading Success