Tired of slogging it out with network marketing, Kou Success Lee FX turned his hand to trading Forex.
While learning to trade he somehow managed to fit in full-time College education alongside taking care of his two daughters at home.
Sacrifices had to be made and Kou decided that sacrifice would be sleep.
He started as a high-risk aggressive scalper where he was able to flip $350 into $26,000 in just a week before he lost it all in a single day.
Though Kou consider giving up his Fx trading dream for the rat race, he was able to figure out different methods and slowly transitioned from scalper to swing trader. Listen to his entire interview to learn how he became a successful trader in just two years!
Podcast Interview
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Interview Links
koutraderz@gmail.com
YouTube Kou Success Lee FX
Recommended Books
Currency Trading for Dummies 3rd Edition by Brian Dolan
Broker and Platform
LQDFX
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Kou’s Chart Of The Week
- He only trades some of the major pairs
- He also trades Gold
- He looks at the Dow Jones as it inversely correlates with the US Dollars
- He has 20 to 30 positions running at one time
- He does his weekly analysis every Sunday
- He’s using 80% technical analysis
Key Lessons
- [09:06] The number one thing to sacrifice is your sleep time.
- [09:33] The number one goal for me was to be a stay-home dad but to also make that income to where I don’t have to go find a job.
- [13:30] In order to be really great at high risk, you gotta pick your certain time in a day and your certain day to trade.
- [20:04] The most important thing is to minimize the losses so you can maximize your profits.
- [23:13] I would hedge through micro lots because that’s the best way to risk your position. You’re risking the smallest lot size to make the most amount of money.
- [26:50] If you’re not testing positions to see direction then you’re basically putting that position at more risk.
- [27:04] It doesn’t hurt to test your abilities every single day in the market because the market is always constantly changing.
- [31:08] If you can catch the same amount of pips and profit in one position, why not do it for 10, 20, 30 positions?
- [36:21] The US Dollar is by far the strongest and the most traded currency everywhere.
- [40:22] Forex is really great at testing your patience and the way you look at things.
- [41:58] Learn the technical analysis right away so that you’re not relying too much on those indicators.
- [49:01] If you can’t find the consistency in looking at the charts then you’re not gonna find the consistency of making the profits.
- [52:28] When I started seeing where price is going or when I started seeing the candlestick pattern or some kind of a structure where it might cause a reversal, then that was my go-to signal.
- [58:58] If you’re not ready to adapt to the Forex market, you’re just gonna constantly lose.
- [61:19] Almost every book that I read, the H4 chart is already talked about as the most accurate chart for swinging.
Kou’s Trading
- He’s trading Forex
- He’s a swing trader
- He focuses on the weekly and monthly charts
- He doesn’t keep track of his winning percentages
- He’s more into price action, naked forex, and candlesticks instead of using a lot of indicators
- He doesn’t set any stop losses on any of his trades
- He always tests his trading account’s lot sizes
- He only trades some of the major pairs
- He also trades Gold
- He looks at the Dow Jones as it inversely correlates with the US Dollars
- He has 20 to 30 positions running at one time
- He does his weekly analysis every Sunday
- He’s using 80% technical analysis
