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MD to $10 million trader investment success is a victory of will

He reads Bloomberg Forex rebate for you Reuters reports on the world economy and Forexrebateforyou rebateforexindonesia every day, as well as the daily reports of several specific foreign exchange analysts He said the contrast between the economic development of highestrebateforexdividual countries getforexrebate the fundamental reason for determining the general trend of currency exchange rates From a medical doctor to a Wall Street foreign exchange trader in charge of tens of millions of dollars, from the pharmaceutical industry analyst to From an analyst in the pharmaceutical industry to a financial expert who has developed a successful foreign exchange automated trading system and maintained a positive return on his account for 83 consecutive days, Xu Shiweis experience is that investment success cannot be based on luck alone, but is ultimately a triumph of the mind and will Xu Shiwei is currently the investment manager of a large Wall Street private equity fund, managing tens of millions of dollars in assets, and he uses his self-developed foreign exchange automated trading system to manage funds for institutional and individual clients. cashback forexn 2006, he achieved a 52% return on investment, and in 2007, he achieved a 38% return on investment. In 1989, after graduating from the University of Science and Technology of China with a bachelors degree, he went to the United States to study, and in 1995, he received his PhD from the Medical University of New Jersey. In 1994, he got involved in the U.S. stock market. I remember the first stock I bought was Merck (MRK), a global pharmaceutical company, and the second stock was Intel (INTC), a computer chip company, and both stocks were held for many years. For many years, MRK finally helped me earn one and a half times, INTC earned two and a half times, of course, lost money on the stock also have I entered the Wall Street work in 1996, slowly began to learn to do stock options (StockOptions) in 2001 and began to participate in the stock market index futures (S&P500IndexFutures), in 2003 officially began to enter the foreign exchange trading foreign exchange investment can not be myopic in foreign exchange trading he began to taste the fruits of victory, I remember most vividly a success is in the fourth quarter of 2006, I began to accumulate from the second half of some long pounds began to win, I based on their own judgment, not only did not rush to close the position to profit, but the use of leverage, gradually increase the investment, and patiently wait until the end of a few months of patience eventually blossomed. That quarter, all my customers returns are more than 10%, some more I draw another lesson from it: first, patience is a virtue; second, the foreign exchange market accidents often happen in the direction of the general trend Xu Shiwei said, overseas mature foreign exchange market information technology is very high, foreign exchange traders can almost at any time, any place can get the latest offer, but this sometimes This will sometimes lead to traders only pay attention to the myopic phenomenon occurring in front of them and in fact, traders may as well stay away from the immediate price and better grasp the markets general trend For example, in the past year, the dollar depreciated in the general trend, there is often a counter-trend recovery, if the wrong follow up will result in the consequences of small losses. Risk management is the first Xu Shiwei stressed that in order to become a long-term successful trader, not only need to have A good trading system and strict capital management, but also need to have a good mindset and full of experience Currently he reads daily Bloomberg and Reuters reports on the world economy and foreign exchange, as well as several specific foreign exchange analysts daily report He said that the contrast between the economic development of individual countries is the fundamental reason for determining the general trend of currency exchange rates, and the specific buying and selling point is not important, the important thing is to follow the market I write a good trading plan for the next day every night, how much money to use, when to buy, when to sell, how to enter the market after the price rises, how to fall, when to close the position for profit and other major trading elements are clearly written when the actual transaction as long as the trading plan in accordance with our own development of automatic trading software or manual trading on the line, do not need to have any hesitation or what to move I also do not rely on any external technical indicators I entered each position is intended to hold for a long time (several months or more than a year), so to speak, with the investment point of view to do transactions, if you do not want to hold long-term, simply do not do short term trading of course, some positions may be closed the same day profit, that is an unexpected surprise rather than the target I expect after the plate in general, his trading results and But if something unexpected happens (such as a price jump high or low), he will study it carefully Xu Shiwei said: My most respected book is "FooledByRandomness" by NassimTaleb, a foreign exchange options trader who has become a philosopher. The chances of catastrophic events that most people think are almost impossible actually happen much higher than imagined, most so-called successful people are actually just the result of random luck and many of them have not realized this, what we want to do is to become a sober and successful person who can determine their own destiny Therefore, the most important principle I do forex is risk management, risk management, risk management, try to control the risk in Very small range, strive to turn the beginning of the loss into the ultimate win, profit from catastrophic events rather than damage to solve the problem of how to reduce losses, gain profits is a natural thing Many foreign exchange experts use foreign exchange options to increase returns and reduce risk, Xu Shiwei believes that foreign exchange options is an important tool to reduce risk, for example, before the imminent release of major economic data, if My position portfolio is overall bullish, I do not know whether the result is in my favor, I want to turn the position portfolio into an overall neutral, I can achieve the purpose by buying a put option (aputoption), after the economic data is good or bad to me will have little impact but the disadvantage of foreign exchange options is that the transaction is not very active and expensive (especially the value of time) so I thought Stock options can use a combination of stocks and options to achieve the same purpose, similar principles can also be applied to foreign exchange inside Foreign exchange investment does not rely on tricks Xu Shiwei believes that some foreign exchange trading skills are not the way to always win In foreign exchange trading, there is no difference between long and short, you can close your position after a few seconds after entering, and different currencies have differences in daily interest (for example, the Australian dollar interest is much higher than the yen) so some Traders take advantage of these features specifically to earn money arbitrageurs, for example, in New York time at 5:00 p.m. before the payment of the days interest, the price of the AUD/JPY currency pair tends to rise, but 5:00 just after, the price immediately fell so some people like to do more before 5:00, at 4:59 to close the position; some people like to do short at 5:01, and then wait for the price to fall after closing the position but this is only a foreign exchange trading in the In the foreign exchange market, some people are willing to use high-end paid services, expecting to get important information a second or two earlier than others, which is theoretically feasible, but the actual operation is not as satisfactory because the market buy, sell the price difference between (bid-askspread) often becomes larger than usual when major news is released, and the price will sometimes be false I personally only use public information on the Internet Xu Shiweis trading is basically based on the EUR/USD currency pair, because the strongest circulation of these two currencies intervention time is respectively in the London trading market and the New York trading market before the market opens, long and short depending on the days economic data Xu Shiwei said that foreign exchange traders must pay attention to The international situation is currently the main problem of the U.S. economy is not as high-tech as before new growth points and stimulate economic development highlights, the war in Iraq and the growing cost of health care also dragged the leg, and now coupled with the subprime mortgage crisis, before solving these problems, the dollar bearish and the Canadian economy has a clear duality, on the one hand, and the world energy market is closely related, on the other hand, also by the U.S. economy The impact of the current mainly with the direction of crude oil prices and the European Union Central Bank (ECB) to curb inflation rhetoric striking, but the eurozone has the problem of uneven economic development of individual member states and high unemployment in the labor market, to reach parity with the U.S. dollar for a long time U.S. subprime mortgage crisis the most dangerous moment may have passed, but its impact is far from disappearing, the U.S. The downturn in economic growth in the U.S. may continue for a long time, and the currency that deserves the most attention in the future is the RMB. Perhaps everyone and I have this or that view of the economy and the direction of currencies, but I never preconceived ideas based on my views to foreign exchange transactions, the sensible approach is to follow the market price, for anyones point of view, the market is always right!

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