Nearly nine years ago Alibaba, China's largest e-commerce company, made its first appearance on the New York stock exchange with the largest Initial Public Offering (IPO) price in American history at the time. It is offered at a price of 68 US Dollars. From that IPO, Alibaba earned 21.8 Billion beating Facebook IPO which only recorded 16 Billion.
From this success story, there are several strategies of Jack Ma, Founder of Alibaba that we can take and apply in forex trading.
# 1 Enter the Market at the Right Time
Jack Ma knew at the right time to put Alibaba on the stock exchange and continue to grab the highest fund in American history of 21.8 Billion USD. Jack Ma waited almost 15 years to find the right time to enter the NYSE whereas in the past, he was able to enter if he wanted because Alibaba was already a big name and ready to enter the stock exchange. But he did not because of what? Because he knew it was not the right time to enter it. And when the time was right, he continued to include Alibaba in the stock exchange.
Just like forex, we need to know when is the right time to enter the market. We can't go in and 'play a little bit' because it is a business. Forex trading is also a business model. Need to know the time of entry, and need to know the time of exit. Can not enter an order if you do not do research in advance, do not know how much is willing to risk, and do not know how many targets to make a profit. Everything needs to be planned and entered on time with very strict risk management.
# 2 Patience and Diligence are the keys to success
15-year-old Jack Ma is waiting for the right time to go to the NYSE Stock Exchange, making it the largest IPO in US history. This Chinese company became the largest IPO in the US. Amazed right? Did you know that patience is very important, no matter in any business? Many want to get rich quick in forex, not willing to learn but the ambition to become a millionaire with forex trading. But even technical and fundamental analysis do not know or lazy to know. Why? There is no easy way. There is no hard way. You who have to be patient and diligent focus to succeed.
Here I want to ask, how many people are willing to trade demo accounts for months to ensure consistency in trading techniques, before just entering the account risk with real money to learn about emotions. Is there anybody? Many are not willing. After learning forex, continue to enter real trading, supposedly no feel. But you will 'feel the pressure, emotional, and physical' if the steps are not right, and we already know they will lose. This is driven by impatience and wanting to get rich quick.
And there are still many people in Malaysia who are more willing to enter forex schemes, investment schemes, sit still for money, shake their legs for money, do not want to study, everyone wants to be happy. After 1 year the program survived. It is better for you to get involved and learn slowly from now on. No money, invest in the form of time because you have time. Time to study. Take the time to succeed, you will taste the sweetness of forex trading.
# 3 Start Small and Think Big
Jack Ma started this Alibaba business only from his apartment in 1999. Now look, he has become a big ‘tycoon’ who has made a name for himself all over the world. Everyone knows Alibaba's website selling goods more than know Alibaba 40 bandits. In forex, how many are willing to start small, start with USD 1000 first to practice with strict law control and trading journals, develop trading value in line with trading capital to become big (think big).
How many are willing? Many are not willing, that's why many do not measure their own clothes. Those who do have money are fine, maybe it is 100K for him a little, but those who do not have money, are willing to make a personal loan to trade forex, even though forex knowledge is still a month or two. Out of loan, swipe credit card until the limit expires. After losing 'gambling' which is a trade without proper analysis and risk control, blame forex, supposedly forex is what causes him to lose his family money and become poor. Until when you want to blame the situation while emotions are out of control.
Last word.
Many people who, when they see people succeed, continue to feel happy to succeed. Do we know about the difficulties the person experienced before success and what the challenging experience and level of patience he went through? Patience is the most important thing to succeed.
