Interview with Ken Kraken
Ken @kraken (Profile page: https://www.followme.com/user/...) is a full-time professional trader for ten years, whom Followme global community members must be very familiar with, as he is very active and always share #profitshow# of his account, which is profitable most of the time. Followme is pleased to have invited Ken to share his experience in forex trading in hopes that it will help you in one way or another.
Q1. Could you kindly introduce yourself?
Ken: First of all, I would like to thank you Followme for a warm welcome interview opportunity. My name is Ken. I am a full time investor. I am investing in almost everything that have upside opportunity. My portfolio including property, stocks, equity (share of company that is not listed), commodities and forex. Forex is just one part of my investment but as Followme is trading community, I will share only part of my forex investment to you all.
Q2. Why did you enter forex market?
Ken: I have been in forex market for more than 10 years. I know forex since I did my import-export business. At that time, I have to find instrument to hedge against currency volatility and maximize my company profit, and forex market is the answer because of its leverage. After that I keep on learning about forex and global economic system, I found that it is not only good instrument for hedging but it also can trade for your wealth.
Q3. What’s your trading style?
Ken: My trading style is to focus on Macro economic. Monetary policy of each country first. These are big picture, it is like map and destination when you travel, economic and monetary policy cannot rapidly change. It will take long time in every period to achieve each country goal and that will be called long term trend in technical analysis. In short term period, technical analysis will become important tool for trading which base on macro economic trend in big picture. I do not use pure technical analysis without fundamental backup because I feel like I am blind. If you do not understand well about technical analysis, it is same as you toss the coin, this is why 95% of traders end up at loss or even broke. I have been studying technical analysis for about 8 years, for me it like medical history of patient, chart is recording price history of every currency but never record the future. We are the one that use it to predict the future which is just probability not a holy grail but we choose to believe technical analysis is 100% certainty and is holy grail.
Q4. What’re the most important factors to win in forex trading?
Ken: From my experience, key success in forex are 3 factors risk control, equity management and be patient to have position only when you have advantage. All 3 have to combine together to be your strategy and will lead to long-term successive. Short term successive cannot proof anything, everyone can profit everyday but cannot survive for month. So long term focusing is a must to success in forex.
Q5. What’s a major setback you ever had?
Ken: To asking about my depressed moment, of course everyone must have bad situation and me either. My depressed period is when I am at the early year of trading, at that time I do not have plan and use purely technical analysis. As I said before it is like you are blind, one day huge profit another day huge loss, keeping on and on as loop until you run out of money. To get pass that is to growing up learn from your mistake and setting up good trading plan.
Q6. What’s your suggestion to a newcomer in this market?
Ken: Many new comers always ask me some tricks, I always said to them that in forex please use only money that you can all lose and do not aim to make money from this market, protecting your capital first and profit will come to you.
Q7. Do you read related books? If any, which books you consider helpful to you?
Ken: About knowledge base, I read many investment and financial book through my entire life.
My all time favorite are
1. "alchemy of finance" by George Soros
2. "How To Make Money In Stocks" by William J. O'Neil
3. "MARKET WIZARDS" BY JACK D. SCHWAGER
From what I though book cannot make you better just by reading but you have to collect essential from each book and adopt it with yourself.
Q8. What’s the sentiment you have about this market so far?
Ken: For long term view I am bullish in gold and silver. As global debt is increasing like crazy and Europe and Japan cannot get out of negative interest rate trap, these are positive for precious metal and the important pivot key is USA reach negative interest rate, that will be the end of global fiat currency system that backed by USD.
Followme community: Thank you Ken for agreeing this interview. Ken has been an active trader in Followme global community. As a full-time trader himself, Ken focuses on long term gains. Hope his sharing is helpful for you, be you a new comer or a professional yourself. Enjoy your trading!
Edited 21 Feb 2020, 14:09
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