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the “holy grail” defined… are you still looking for it?

October 6, 2008 at 8:40 pm · Filed under >> forex expert advisor reviews, PipForia, hedged grid

i’m blogging less often now… not because i’ve lost interest in trading and forex, but on the contrary, i’m beginning to realise that i’ve taken too many things for granted.  my obsession with finding the Holy Grail had also derailed me from reality and my life’s priority.

this blog post is going to be a MAJOR MILESTONE for me.  one that will mark the real beginning of my journey towards becoming a full time trader.  target date : december 2009.

if you have been following this little blog, you will know that this quest of “finding the best Forex Expert Advisor” has been very much a wild goose chase.  like so many people out there, i was intrigued and obsessed by the thought of making easy money by using Expert Advisors to trade for me.  20 months and thousands of dollars later, i realise that i was just being a lazy trader, trying to find a short cut to my pot of gold, willingly and happily being misled by the notion that one could make heaps of money on auto-pilot, 100% fully automated.

nonetheless, the search brought me on an amazing adventure that had led me to do things that i’ve never imagined doing.  allow me to chronologically list down some of the major events over the past 20 months of my journey… :

feb 2007 - introduced to my first EA (RobinHood)
june 2007 - LIVE traded with my first EA (profits paid for my holiday to Alaska :O)
aug 2007 - started EA review blog
sept 2007 - begin searching for the “Holy Grail” EA
dec 2007 - started a FaceBook EA Community (now 857 members)
jan 2008 - started a local EA community in Singapore (now 433 members, 3 meetings so far)
feb 2008 - realised PIPforia had a great strategy and EA,  posted a review
mar 2008 - impressed with PIPforia, invited Stella and David Robinson to bring their seminars to Singapore
apr 2008 - birth of EDVOasia Pte Ltd, to run PIPforia’s seminars in May 2008
may 2008 - spending more time trading, successful completion of the PIPforia HGM seminar
june 2008 - seeing good results trading with PIPforia’s strategies
sept 2008 - stopped looking for more EAs, blogged about “reality check”, renewed focus on own trading
oct 2008 - best trading month in sept, achieving +20.3% in LIVE account trading solely with PIPforia HGM

it’s only in sept 2008 did i start to wake up from my dream.  the lazy trader in me had blinded me long enough.  my unconscious desire for public acceptance had led me to spend the majority of my time building communities and serving others (blogging, running MeetUps, organising seminars, testing EAs, answering emails, etc, etc).  i was spending so much time doing things that were not in line with my main and ultimate objective - making money from trading!

take care of the “inner” first, then the “outer”

it’s only when i started taking ownership of my own trading did i start seeing the results that i was looking for.  15% - 20% per month… that’s all i really needed consistently to make a decent living from trading.  even 5% - 10% would be excellent with a sizable trading account.  that was my goal - to take care my myself first, my trading, my family (whom i’ve regretably neglected).

i’ve spent so much time, money and energy bringing PIPforia’s excellent strategies to Singapore.  with the seminars less than 2 weeks away (19th - 21st oct 2008), i’m looking forward to seeing my trading mentors and friends in Singapore again - Stella and David Robinson.

knowing Stella and David has been the highlight of my forex adventure.  great people… genuine and passionate about teaching others to succeed in the trading business.  with the knowledge and tools (EAs) from PIPforia, i believe i’ve found my “Holy Grail”.

yes… it’s a tall order to call something the “Holy Grail”, but from what i’ve experienced and seen, i think this is pretty darn close.  it’s going to take a long time to explain how the PIPforia strategies work, and i’m not about to summarise their seminars into a public blog and do them injustice.  but you’re in luck… a fellow trader/blogger just did a detailed review on the PIPforia’s Hedge Grid Management (HGM) strategy.  very fair and objectively done in my opinion. his first month trading it LIVE got him +15%.

have a read here :

http://www.macrotactics.com/2008/08/01/grid-trading-part-3-automated-grid-trading-using-pipforias-hgm

towards the end of the review, you will realise that it’s not a perfect trading system, and it’s one that requires market volatility and good price movements to make money.  but consider this… all we really need is a combination of a few simple things to start making good money.

1. basic technical analysis skills (eg. support/resistance, trend lines, fibonacci retracement levels)

2. an understanding of market fundamentals (watching the videos at CNN Money daily would help)

3. an automated “trend-following” and “non-directional” trading strategy that will make money when price starts to trend (regardless of which direction!)

the article by the Australian trader/blogger correctly pointed out that a drawdown is part and parcel of a hedging and gridding strategy.  but with the correct education, informed choice of currency pairs, and selective trading times, you should be on your way to making consistent returns using the PIPforia strategies.

remember… 15% - 20% per month is all we need.  anything more is a bonus (or a sign to review your risks and money management).

family, the October PIPforia seminars and my own trading are my top priorities now.  email me (ck@ckowyong.com) if you would like to know more about the seminars.  Stella and David will be arriving in less than 2 weeks.  we are all fully committed to see that every seminar attendee succeeds in his/her trading.  if you are still looking for the “Holy Grail”, have a look at PIPforia’s Hedge Grid Management (HGM) system.

so… in summary, here’s my plan :

1. achieve 15% - 20% per month consistently

2. build up my trading capital to US$20 - 30K

3. trade full time by end 2009

call me idealistic.  don’t we all need a plan or a road map to keep us focused on the end result?  i admit i do  :O)

good trading to all!!  :O)

buy ck a coffee :O)

  • Really good work about this website was done. Keep trying more - thanks!
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  • Hong Ang : thanks for your words of wisdom. i agree that using EAs have been a very educational experience for me. it thought me many basic things about forex, risks/rewards, strategies, etc etc. but i think using EAs for the sake of diversification or making trading more "exciting" is not sound. i would prefer to replace the work "EA" with "strategies", and instead of diversification, i think a better approach is to have different strategies in our arsenal so that we can call upon them when the market conditions are favorable.

    YES, i will "jia you" for sure. i have a dateline of end 2009 to meet! :O)

    alwaysLovely : thanks sister :O) yeah... focus is key. i am a true believer of : WHERE ATTENTION GOES, ENERGY FLOWS, RESULTS SHOWS. focus, focus, focus! :O)

    Koh : sorry to hear what PID did to your account. about your 20% per year... it's still a very respectable growth considering what banks are giving! you are right... time is a factor if one wants to become a full time trader. there's no short cut. if there is a short cut, it would be a very very "expensive" short cut. focus, focus, focus... and learn from only the best. i think if we set our minds and commit to the goal, we should be able to achieve it in 2-3 years. that said, it's also a known fact that not everybody is suited to be a trader. all the best to you too!! "jia you"!!

    tdion : a student? yes... a student of the FX market :O) i already have 2 kids and hair is starting to grey :O) many people say i am older than i look... or look younger than my age. i like it more when they say the later :O)

    gundam98 : yes.. i will share my LIVE statement publicly soon. it's up 140% in 4 months. please watch for it.

    Piotr Szu : i'm not sure what happened there. you might wanna contact the creator of the site to find out more. as far as i'm concerned, i am more than happy with what i can achieve with the PIPforia HGM. i'd rather focus on what works then on finding out what actually happened to that chap.

    Joesoef Kalla : demo yes, but it's a paid demo. get it at http://www.pipforia.com

    gundam98 : it's not for everybody i'm sure.
  • hi all,
    sorry for not answering to all your comments and well wishes.

    Mark : thanks mate! it's has been my pleasure :O) getting messages like your's really makes my day :O)

    Azerty : you made my day too!! wishing you and everybody reading this a very profitable and joyous 2009!

    Blank : should i say thanks? hmm... :O) anyway, i hope by sharing my journey, those chasing after the next best EA will stop one day and take charge of their own trading instead of relying on a piece of software. please stick around and call me names again when i deserve it, ok? :O)

    ABMAN : well said!! :O) trading systems actually don't have to be able to deal with all kinds of markets. not having a position is also a position. just trade when probability is well in your favor probably works best.

    GERMAINE FX : you made my day too!!... big time! :O) thanks for the encouraging comments. like you said.... the "Law of Reciprocity" really works! i got to know so many wise people and great traders through the blog... and i believe these contacts and alliances made will be key in helping me achieve my goal. best wishes to you too!

    Tim : i typically spend about 20 mins in the Asian session, 20 mins before Europe opens, and 20 mins during the US session to put in my entry levels. (so that's about 1 hr a day). if i have open positions, i tend to watch the market whenever i have the chance to. it's a personal preference as i like to keep an eye on the drawdown and may interveen to close the cycle when the technicals call for it.

    whether it's able to be modified to run fully auto?... i would believe so. but frankly, i think the "human entry + EA manage and exit" has a lot of merits. it's like having the best of both worlds really :O)

    i think $89 is reasonable. if one can make 10% on a $3000 account, it would still be justifiable. i'm making about 20% per month since sept 2008. largest DD that i had to cut and take the loss was 15%. all the best to you too!

    Juanita : thank you! you are right. we all should ideally aim to become profitable manual traders. it's a skill that will stay with us for life...regardless of platform or trading software. while trading the PIPforia HGM, i am currently also looking into educating myself in manual trading. that said, having a profitable semi-automated strategy does make life a whole lot easier.

    Max : thanks, master "Max" :O)

    Yan : yes... i will be posting my LIVE statement in the next few days. it's not a big account, but i think it's good enough proof that the PIPforia HGM does have it's merits. yes... the Alaska trip was really nice :O)

    Nicholas Chan : thanks mate. Stella, David and I are already planning the next seminar in Mar 2009. will keep you posted. hope it will fit into your busy schedule in uni.

    Wilson Ong : thanks Wilson, for working with me to find my direction that afternoon :O)
  • gundam98
    Another overpromised expert advisor with great sales pitch.
  • is there a domo version of this EA?

    if yes, please send the download link to joesoefkalla@yahoo.com
  • Piotr Szu.
    Hello CK,
    could you ask Stella to explain this:
    http://www.pipforia.org
    68% loss on account managed by Stella using Pipforia in 5 weeks?
    Is it only competitors scam, or something really wrong is going here?
    Best regards
    Piotr
  • gundam98
    Please share your live statement using PIPforia’s Hedge Grid Management (HGM) strategy.
    How's your holygrail performed so far??
  • tdion
    CK,

    You can build up 20 to 30K in 13 months? You must have a good job.... I thought you were only a student.

    -TD
  • Koh
    Hello

    not too sure if you remember me, but i asked you about PID before buying.
    well PID screw up my account. dun worry i am not blaming you. you meant well and PID was doing great that time. my mistake of not testing enough before going live.

    i had been on a personal "holy grail" EA hunt myself. i think i tested over 1000 ++ EA haha. i cant give you a winning EA but i sure can give you 1001 losing EA.

    after so many months of testing, i finally found one EA which suits my trading style.
    my personal plan is almost similiar to yours, but i can only manage 20% yearly not monthly, i need more time to be full time, maybe another 3-5 years.
    Good luck you will be successful.
  • Kip/Anton,
    thanks for the alert. spam deleted :O)
    ck
  • I agree with KIP

    the link above is a spam...

    I hope CK would deal with it..
  • Kip
    How I love people who SPAM on blogs to peddle their stuff like the post above.
    You all need to stay away from products that has limited parameter settings and you have to completely surrender to the EA's own thing. Anyone hyping up earnings is always risking way too much on the trades. And I would immediately stay away from those who SPAM blogs and forums. That's what the above person does day in and day out. Blog and forum spammer that he is.
  • wow CK,

    enlightened eh? that's cool.
    though i know nothing much about trading, i think keeping focus is the key just like any other areas.

    :)
  • Hong Ang
    All the best! With the efforts you put into seminars etc and now changed to improving your own trading, you will be able to achieve it.

    I have my own take on EA, its a diversification form of investment from your trading and adding some spice in your trading adventures. I would put small money in them just like building your own investment portfolio so that not all of your money is on your own trading only, in case anything happen. At the same time pick up a trick or 2 through observation of how these EAs work and incorporate, enhance on into your own strategies.

    Just like the fishing example many used, teach someone how to fish rather than giving him the fishes. It's a skill set that you want to acquire and that stays with you irregardless of what happen to the one that has always been giving you the fishes even when he is gone (etc company no longer around for whatever reason and now that you are full time into this). This is more reliable and less risky in earning your "bread and butter" rather than just relying on EAs since they are not "YOURS" forever and market dynamics are always changing. People wants to be reach financial freedom isn't it? How can one be if his income comes only when others are working? =)

    Probably alot of people knows about what I have mentioned but I thought why not bring it up again.

    CK, good luck and "Jia You". I am sure alot of poeple will miss your work here but I always believe in helping ourselves first and being really capable before one can help others.

    Cheers to all!!!
    Hong
  • Wilson Ong
    CK,

    Very very great realization. Looks like you found your direction !

    Congratulation on your fantastic achievement.

    Look forward to see you in Stella's class.

    Regards

    Wilson Ong
  • Nicholas Chan
    Hi CK,

    Thanks for sharing your insights.
    It is great to hear of your plan to become a full time trader. I wish to reach the stage of being able to trade full time too.
    Though I'm unable to make it for this Stella's & David's seminar this time, I really hope that I'll be able to attend it the next time round.
    Please invite them to conduct another seminar perhaps in end April or in May 2009. I'll definitely be there! :)

    Regards
    Nick
  • Yan
    Focus on trading
    1. achieve 15% - 20% per month consistently

    2. build up my trading capital to US$20 - 30K

    3. trade full time by end 2009

    I hope you can public profit/loss statement 15% - 20%

    Gud luck for full time trader.

    I also keep try to get into financial freedom.

    No system is perfect like you said.

    This is trader jobs like us. TQ for sharing your journey.

    -june 2007 - LIVE traded with my first EA (profits paid for my holiday to Alaska :O) No loss.

    Visit my blog http://www.macrofinder.com
  • Max
    I'm really happy for you CK. Keep up the good work!
  • Juanita
    DK, you said it .... there is no holy grail available to the general public. There are EAs that are HOLY GRAILS, like one I was allowed to test in my demo, but it is not forsale. It turn $500 into $28411.13 in 8 years on a standard account.... but they are high risk.

    I have also been blinded by finding the easy way out, so like you I have found that nothing beats hands-on trading.

    Congrats on your journey and your success at trading.
  • Tim
    CK,
    that sounds like a great plan. Good luck!
    How much time per day do you spend on average with this system to achieve this kind of monthly return?

    Is it possible in the future to eventually make this EA so it can be run totally automatic and gets similar kind of results that Stella is getting?

    Biggest obstacle is the monthly price tag of $89. You need to have a decent starting balance to make a decent return to pay for the 89$ monthly subscription plus the VPS subscription and then make some money

    What is the worst drawdown that you have experienced CK?

    Thanks and good luck!
  • GERMAINE FX
    CK-

    We're all proud of you for accomplishments, and you future goals! Your plans are your the map that will help you achieve those things that are most important to you. Also, those plans will help you stay on track. Its sort of like going on a trip and plotting out your journey on a map. God bless you for your unselfish commitment to helping others. Its really the foundational principle of the Law of Reciprocity. You have a great future ahead of you.

    Best regards,

    Germaine FX
  • ABMAN
    Dear CK ,

    Your reviews were very helpful , I can relate to your whole experience ,becasue I also neglected alot of things in my life just beleiving that the holy grail is for every one ,but it seems that it not that simple journey ,this journey need alot of sacrifices in order to acheive the ultimate goal that is finding a stable system with a good charecter that know how to deal with all kind of markets and all kind of crisis acheiving realistic profits .

    ABMAN
  • Blank
    I'm the one who would call you a dumb ass and an idiot every now and then here. But your last post is really nice. welcome to the real world.
  • Azerty
    Congratulations CK. I've been following your blog for quite some time while learning about Forex. Your blog has been an inspiration to me and I wish you success with your trading :)
  • Congratulations CK - thanks for sharing your journey with us

    Mark
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