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Bintang’s Forex Duo Strategy
Written by: PaxForex analytics dept - Friday, 02 November 2018 0 comments
Hello everyone, my name is Bintang and I am from Indonesia. I wasn’t sure if I should share my forex strategy with all of you, not because I wanted to keep it all to myself but I thought that many will simple laugh it off. Ever since I started trading forex people have laughed at me for doing so. I did get a lot of negative feedback from friends and family, none of them ever traded forex, and they tried to discourage me from pursuing something I genuinely believed it. I don’t want to bother you with the long details of it, but I do want to say that I’m glad I didn’t listen to the naysayers and stuck with what I knew in my heart was right.
Unfortunately for many new traders, there is a lot of misinformation out there when it comes to forex. A lot of fake stories, positive as well as negative, about how a tiny deposit turned into a magical sum. Then there are those, sometimes sad stories, of how new traders failed and lost their accounts over and over again. I can only tell you from my own experience and I have been there myself. I have blown a few forex accounts as I was very naive about what it takes to really make money as a forex trader.
I have learned that forex trading can be a great source of income and it can even outpace your regular job at some point. It doesn’t happen over night and it doesn’t happen with small deposits. You can start out small, but remain patient and grow it over time. Look at the individuals and families who have amassed fortunes, it took them generations to do so. I don’t know any of them personally, but I bet if you ask them if it was worth it or if they would do it all over again that they would all say yes to that.
I started with small deposits myself, no more than $500 at any given time. This was a very good choice as I ended up blowing them. I lost six $500 accounts in my first two years trading forex. A lot of people may wonder why I skipped the demo account or that I wasted some important money. I disagree as I view the money lost as the price of my education. I had to pay tuition fees at university and I views my forex losses as my tuition fee to learn how to become a trader. I also decided to skip demo as read from quite a few successful traders that it is a waste of time. New traders like demo accounts as they try to avoid losing real money, but they also avoid learning how to become a trader.
One of the most important tools for every successful forex trader is a broker you can trust. It is not easy to get to that point and requires time. Just as you
need to have patience to become a profitable forex trader, you need time to develop a trusting relationship with you forex broker. I started at PaxForex and was attracted to them through a promotion they ran. Their support has been great and very helpful through my promotional account which I easily converted into a live account at the end of the promo period. PaxForex has always made me feel that I am more important than profits and I can only highly recommend them.
My trust and confidence in PaxForex grew together with my account balance. This is the primary reason why I started to follow their trading recommendations. I understand that many people don’t like to follow others, but I tried on my own and faced losses. This has not stopped me from trying to create my own trading strategy, but I am also not ignorant about the truth and my chances. This is why I decided on my Forex Duo Strategy. This has not only turned around my losses, but has helped me improve my own trading strategy.
PaxForex offers daily trading signals which cover all aspects of the trading day. They offer fundamental as well as technical trading set-ups and have a great mix for every type of trader. What I have done is open a second trading account with PaxForex, hence the name Forex Duo Strategy. I did this on order to keep my trading approach separate. I think it is a terrible idea to mix and match strategies in the same trading account. I have two accounts, but you can open as many as you have strategies which you want to follow. I started my accounts with a different deposit, 70% in one account and 30% in the other account.
In one account I execute the trades as recommended by the PaxForex experts, the one which holds 70% of my capital. I almost follow them exactly as outlined, but every so many trades I make an adjustment in the recommended take profit or stop loss levels. I started to develop a good approach this way and am running this portfolio at a profit. In the smaller account I work on my own strategy, I never duplicate the trades as it makes no sense. Half the profits after every quarter go from account one into account two. I am growing both accounts asymmetrically, reduced my risk and diversified strategies. Feel free to give it a try, you don’t have to always reinvent the wheel. My mix-and-match approach is working great for me, maybe it will do the same for you!