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Luke 6:38 - give, and it shall be given unto you.

Can a Christian T rade Forex?

Someone argued that in Forex trading, one can only win at the expense of another and hence, it is no difference from gambling and it is unproductive and wrong to do so.

Lets begin with the statement of "one can only win at the expense of another"

Would you not apply for a job knowing that if you succeed, other applicants will not?

In any competition, there will be winners and there will be losers.

Moreover, in trading (not gambling), losers lose, not because another trader took from them and winners win, not because they took from a losing trader.

A "trade" is a business transaction, where the buyer and the seller agree on the value of something exchanged, be it currencies, stocks, bonds, futures contracts, cars or houses etc.

There is no disagreement between the buyer and the seller and there is nothing unethical about trading.

The fact is that the buying and selling of currencies is no difference from the trading of goods which we try to buy at a lower price and sell them off at a higher price to make a profit.

. you make profit a dirty word, Singapore dies.

- The Late Mr Lee Kuan Yew, Founding Father of Modern Singapore.

What about " it is no difference from gambling and it is unproductive and wrong to do so ".

The difference between the Casino and the Forex market is that, most are games of chance in the Casino while it is about economy and a contest of strategy for the Forex market .

Unlike the gambler who has no control of the process and outcome of the game of chance , the trader can rely on price patterns , fundamental and technical analysis to decide on the opening and closing of a position with a probability of winning in his/her favor.

Another good way to differentiate trading from gambling is this:

Imagine playing a game like blackjack and not having to put any money on the table until I have seen the dealer's cards, and then being able to risk as much or as little or even not at all.

Furthermore, if I do decide to proceed, I can change my mind and withdraw my money off the table as long as the opening price that I set for buying or selling (stop or limit order) is not met - THAT'S TRADING!

In addition, I have the ability as a trader to increase my profits (let my profits run) whenever the odds are stacked in my favor and mitigate my losses (cut my losses short) when my decisions are wrong.

Hence, a prudent trader is more like an astute businessman or for that matter anyone who has the seriousness to make and control buying/selling decisions.

All of us have to take some calculated risks in our transactions in order to achieve the potential rewards that we envisaged.

Forex trading is an essential economic activity.

The Forex market facilitates the proper functioning of global trades and market participants including spot traders contribute to the liquidity for the exchanges of currencies.

International business transactions where currencies are required to be swapped will not be possible without the existence of an active FOReign EXchange market.

While Forex trading is a zero sum game where the total gains must equal all the losses, it is also subjective because there are instances where a trader's gain need not arise from the loss of another trader.

For example T rader I b ought from Trader U , Singapore dollars and sold the S$ later for a profit after the S$ has appreciated in value.

Similarly, Trader U could also profit from the exchange had he bought the S$ at a lower price before he sold it to Trader I f or a profit.

Is it wrong to trade?

A stricter interpretation of t he Holy Bible's 8th. Commandment " You shall not steal " should include activities that cheat or harm to enrich oneself.

Like any other legitimate businesses or professions whose goals are to make a profit for ourselves, trading is definitely not dishonest as we are not out to swindle others and not harmful if we don't treat it like gambling.

It is also unreasonable to approve the trading for profit of traditional goods and services but disapprove the trading of currencies, stocks and properties etc.

In the Parable of the Talents ( Matthew 25:14-30; Luke 19:12-28 ), we are to make good use of our God given abilities/money to achieve a positive return on our investment of time and resources . Failing to do so will incur God's wrath.

Automation increases our productivity and frees up time for us to do things that matter more to us than just hard work!

Due to its low cost of entry as compared to traditional businesses which require high capital and on-going expenditures, t he spot Forex market offers a viable option to the retrenched/retired to learn a valuable skill and make better use of their money to work for them instead of them working for the money.

Some of us who are astute in Forex trading can also choose it as a respectable profession to make a sustainable living out of this $ 5 trillion a day economic activity.

In short, trading is a viable way to grow our wealth. Its goal is similar to investing in properties, stocks etc. or entrusting our money in the hands of fund managers to make better use of our spare cash.

Does financial trading serve any useful purpose, or are traders just parasites?

In conclusion, there is nothing wrong with Forex trading if we treat the Forex market like any other market places where opportunities can be seized and risks can be mitigated .

What gives Forex trading a bad connotation is when people treat the Forex market as a casino.

It's also my hope and prayer that through my trading and programming skills, I can be a blessing to others.

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Luke 6:38 - give, and it shall be given until you.

Christian Forex Trader.

whoever can be trusted with little…

The three layers of trading.

So yesterday I finished up a four day FX training seminar with a bunch of secondary students at my school. (I’m a teacher during the day). This is what I kept coming back to:

Trading Strategy is 10% of the job.

This is where the bulk of material on the internet is aimed… am I cynical if I point out that most of it is put up by broking firms who want you to favour a quick in-quick-out strategy so they can make their money off your spreads…

I was showing students how to look for long term trends over the last 18 months, then to examine the hourly charts and sometimes the 5 minute charts to look for a good, clean opening. (Always good to clear the spread quite quickly)

We spend some time on why support/resistance levels form, how to use them as a backstop.

I showed them how I use the MA200 indicator for simple trend filtering, and also the RSI for overbought/oversold market (although I don’t actually use this one myself–a student suggested it)

Also showed them a few simple continuation and reversal patterns.

The most important thing was finding a trending market, and setting a stop loss at a technical level.

Money Management is 1/4 of the job.

I showed them how to use a lot-size calculator, so that they were risking a max of around 7% of their account at any one time.

We also looked a little at portfolio diversification, and in dipping into uncorrelated markets.

I also generated a spreadsheet with them, showing my four year plan, of how starting with $30 and making a profit of 10% per week (roughly) over 26 weeks a year could make them millionaires. (This made many of them smile)

Keeping your Head Straight is 2/3 of the job.

I spent some time showing them some materials by Denise Shull (author of Market Mindgames ). She explains that people can’t make a decision without being emotional and that studies show the best traders are the most emotional people but are also the most aware of their emotions. The take-homes were:

a) Be aware of your FOMO level (fear of missing out is the most powerful human motivator, she says)

b) Be aware of your FOBW level (fear of being wrong… second most powerful human motivator)

c) Never press the buttons when tired, stressed or angry. You can’t assess risk properly.

d) Take stock of your emotions every day before you trade with a simple self-evaluation sheet.

My Current Strategy.

Firstly, why share my strategy? Because I don’t own it, I’m not trying to sell anything, and if anyone else can benefit from it, or improve on it, they’re welcome to. Plus, it’s not very complicated.

The platform I use is CMC Markets. I have spent some time with IC Markets and IG Markets, but CMC Markets suits me because it allows me to trade very small amounts, and gives access to a wide range of world markets.

I want to spend a paragraph talking about how opening a position feels for me, because the feeling of trading is often overlooked, and I think it’s how I make many of my trading decisions. As a teenager, I became very good at the game Connect Four. I don’t know what it’s called in your part of the world. Two players stack counters into a grid, and you have to get four counters in a row–horizontal, vertical or diagonal. The method of winning is to set a ‘trap’ of two lines, so that your opponent, by blocking one line, enables you to win on the second. I was very good at this game because I could see potential patterns and setups many many moves ahead. For me, technical trading feels the same part as playing Connect Four.)

To open a trade, I look through the charts until I find one that looks like it’s ‘clean’ (can’t explain what I mean by this… not volatile?) with a nice, tidy trend developing. I look at the daily chart, to see the long-term trends, and if it’s looking good, I drill down to the hourly chart to see what’s been happening, and whether it’s shaping up for a good opening. If not, I’ll come back later. (There is always tomorrow)

When I think I want to open a position, I first set my stop-loss at a technical level, often just beyond a ‘support’. (I don’t use many indicators. I always have a MA200 on my charts, and I guess I glance at the RSI, but mainly I look at the price action. I don’t know the names of candlestick patterns etc because that’s not how I trade.

Then I set my lot size, with my eye on my potential loss. I can’t say what rule I have for this. I haven’t analysed it yet, but it would be somewhere between 1-7% of my total ‘pot’, depending on how strong the trend looks, and probably what I had for breakfast.

Then I set my limit price, at a conservative level that is approaching resistance, just in case there’s a market wobble. If the profit is too small, I’ll often abandon the trade.

I generally open the position at market price, instead of opening an order, but quite often, I set up the ticket but I don’t actually open the position. I think, “nope, it doesn’t feel right.” But when I commit, I generally have a happy feeling that if the market were to go against me, I wouldn’t mind losing that amount–it’s worth the risk.

Monitoring my position.

It’s very satisfying when those red numbers turn green–when the spread is paid for. About a quarter of the time, the spread gets gobbled up quite quickly, and I pat myself on the back. The rest of the time, I just shrug, and remind myself that I set up the position mindfully, with a good, solid reason for placing the stop-loss where I did, and that I’m not going to catch every fish.

I check on my positions once every few hours. Often I’ll have 2-3 positions running at the same time, rarely more.

The next checkpoint is when I can move my stop-loss to my opening price. At this point, the price has to be far enough from the stop-loss so that it will not be triggered by short-term noise. I feel very good about doing this, but my biggest worry is moving the stop-loss too soon.

Then I move my stop-loss to a small profit. (‘At least I’ve made something! ‘)

Sometimes, the position closes out, and sometimes it doesn’t. If it doesn’t, I may consider opening a second position.

Ideally, there’s a big market move, over the duration of a couple of hours. I keep moving my stop-loss, then I decide to pull out while I’m ahead.

Closing a Position.

If I pull out manually, I look at the profit, pat myself on the back and say, ‘There’s always tomorrow. Get out while the going’s good.’ Then I click out and it’s done.

If I pull out with a stop-loss, I’ll move the stop-loss nice and close to the action. Maybe it’ll keep moving away, but it rarely does. So my stop-loss is triggered, I lose a few pips for the risk, and it’s done.

Then I close my computer.

Because if I don’t close my computer, I’ll make a dumb decision.

This post was about when trades are successful. There will be another post explaining more about how I deal with those horrible red numbers.

Humble Amounts and Skill Development.

So I’ve been absent from this blog for a few years. It’s been an up-and-down journey, which I will probably explain in later posts. I’ve been paper trading and live trading with very small amounts, and I’m having success.

Please don’t think that I’m making millions. In fact, I have about $26 dollars in my live account at the moment. The good news is that about three months ago, I had about $7 dollars in it.

Why am I bothering to put all this effort into an account that can barely pay for a meal at a restaurant? Because the account size is irrelevant; what matters is skill development. If I can turn $7 into $26, then I can use the same skill to turn $26 into $60, then $60 into $400.

I believe it is the disciplines of patience and shrewdness that will produce the greatest gains.

The Value of Mistakes.

I learn more from my mistakes than from my successes. If we don’t learn from mistakes, we’re destined to repeat them ad infinitem.

Seeing the value in mistake and loss is highly important.

Last week I made a mistake. I took a short position on my favourite pair, and set the position to close automatically. I went to bed, expecting it to happen. When I woke in the morning and checked the position, it had not closed, and was near the same legal as it had been when I went to bed. But… the pair HAD dropped during the night, and had reversed only a pip or two north of where I had set my position to close out. Grrrr.

I gave myself a good mental kick in the backside. I should have chosen a more conservative close-out position. If I had, then I would have met my weekly goal of 10% increase on Wednesday night, and been two days ahead. Instead, I had to waste two trading days. Dumb! Dumb! Dumb!

The lesson: When going for a short-term goal, don’t be over-ambitious. Take the profit, even if it is small, instead of waiting for it to explode. “A bird in the bush is worth two in the hand.”

Mistakes, losses and screw-ups are like bananas. You’ve got to eat the banana, and throw away the peel. You’ve got to learn something from the experience, and see value in it, so you don’t repeat the mistake.

Mistakes have COST. A smart person is going to count the cost of the mistake and recognise its value…

The most important things in my life are things that have COST me. These are the things that I VALUE. For example, I know that I VALUE my marriage, because there have been hard patches where I could have thrown in the towel. Instead, I paid in blood, sweat and tears. I know that I VALUE my health, because when I go for my morning run, it regularly hurts like hell. There is a COST to the things I value.

Likewise, when I make a trading mistake, I may have lost financially, but I have gained in wisdom and insight.

P. S. I learned my lesson. This week I traded conservatively in a nearly flat market, and passed my weekly goal early Thursday morning.

Why I started trading FX.

In his inspirational messages, hip-hop preacher Eric Thomas stresses that the basic foundation of success is knowing WHY we are doing what we’re doing.

My reasons for trading FX are doubtless similar to yours.

I have a strong Christian heritage. I’m a 5th Generation Seventh-day Adventist. My father and grandfather are/were both pastors. I studied Theology and graduated with Distinction. But regular church pastoral ministry was not what God directed me to do.

I’ve spend time as a youth pastor and a school chaplain. I’ve pushed wheelchairs in hospital, tiled roofs, helped blow up quarries and stood in unemployement queues. Basically, I spent a good period of time getting shaped and taught by the Holy Spirit. Many years, we had no idea where we would be the next year. It was really, really hard! I resound with the writer of Hebrews where he says, “No discipline is pleasant at the time, but painful!” But I also resound with him where he continues by saying, “Yet it produces a harvest of righteousness…” In this part of my life, God is blessing me, and my family abundantly!

I have a cousin who would occasionally goad me, saying, “So when are you going to quit your job and start trading Forex?” He meant nothing by it, but I guess something stuck. During the hard years, I found myself drawn to success literature, such as The Seven Habits of Highly Effective People , How to Win Friends and Influence People, Think and Grow Rich. As a Christian, there were some concepts in these books that I disagreed with vehemently, but there were other ideas that inspired and challenged me.

I went back to basics and studied what the Bible says about money and wealth. Something about the story of Joseph, in particular, resounded with me. Here was a guy who was given a dream by God long before he had the skills to carry it out!

My mind is the type that enjoys puzzles and patterns. As a kid I enjoyed the “vertical strategy game” called Connect Four. I found I could see potential traps and patterns many many moves ahead. I also enjoyed a puzzle called Pythagoras, where seven geometric shapes had to be arranged to make various silhouettes.

The tipping point was when I read Rich Dad, Poor Dad , and Leo Schreven’s Rich God, Poor God . I thought long and hard about the Parable of the Talents and my natural abilities. I came to the realisation that God had given me the gift of a very unique mind, and that by not employing it to its fullest potential, I was “burying my talent”.

I thought about the many people in the world whose minds are not wired like mine, who don’t have the ability to do things that I can. God has given many of these people huge dreams to change the world… but they don’t have money. If only I developed the gift that God had given me, (my mind) I could possibly bless those people, and help them carry out their vision.

That was the plan! What to do now?

My cousin’s goading about FX trading floated to the surface. So, in January I opened myself a demo account. I remember the excitement of placing my first trade, clearing the spread, and watching the numbers climb into profit!

Within weeks I discovered that “Most people who trade FX lose money,” so I made a decision to leave the beaten path and construct my own trading techniques.

I’m not just trading for me. I’m trading in the hope of blessing the people around me.

That’s why I’m doing what I’m doing.

Isn’t Forex Trading Unchristian?

“Forex trading is a zero-sum game.”

If your numbers are turning blue, someone, somewhere has numbers that are turning red.

So isn’t FX trading, and other similar forms of trading, just stealing?

I have a Year 7 student who is brilliant at Maths. Earlier this year, with parental permission, I opened a demo CFD account for her, and showed her how to place a trade and a working order. She understood the mechanics immediately (“Buy low, sell high.”) A few days later I asked how she was doing. “I don’t know,” she said. “Let’s check.” While the other students added fractions, we logged onto her account. “Sir, I’ve been trading gold,” she said.

I saw those big blue numbers and nearly swallowed my adam’s apple. “Quick! Close them out!” I said She’d made a whopping 40% in under a week.

Beginner’s luck? Maybe.

We talked about the value of her $8000 profit, and what a difference trading could make to her life if she learned some skills. I encouraged her to continue practicing.

A week or two passed. “How are your trades going?”

She shrugged. “Mum and Dad say they don’t want me to do it, because it’s basically stealing.”

I know her parents from Church, and have the utmost respect for them. Since FX trading is a zero-sum game, their point is difficult to argue with.

So what is a Christian doing, trading FX? Doesn’t it break the 8th Commandment, and the basic principles of “Love your neighbour”?

I’m not saying that FX trading is for every Christian. For some people, FX trading is flat out disobedience against the Spirit. Yet not for all!

Here are two Bible themes that are relevant.

1. In Jesus’ Parable of the Minas (Luke 19), Jesus commended the servants who made 1000%, and 500% respectively, and he condemned the servant who took no risks, and returned the investment to his master in full.

One of the themes in this parable is, “he who can be trusted with little can also be trusted with much.” This theme has a corollary in Luke 16, with the Parable of the Dishonest Steward, where Jesus’ punch-line is, “If you have not been trustworthy in handling worldly wealth, who will trust you with true riches?” In other words, God sometimes uses stewardship of real money in order to teach/test his people in the principles of His Kingdom.

Bottom line: Fail in your correct handling of $$$, and you won’t be entrusted with spiritual authority later on. Ouch!

2. When the LORD was preparing the Children of Israel for the Promised Land (Deuteronomy 6,7) He told them that they would waltz into “flourishing cities you did not build, houses filled with all kinds of good things you did not provide, wells you did not dig, and vineyards and olive groves you did not plant…” The inheritance of the Promised Land was, like FX trading, a “zero-sum game.” It was the Canaanites who did all the work. The Israelites were to just walk in and assume possession. God told them that he would send hornets to empty the land of its inhabitants.

This is not the only time when God used a nation who despised Him to build wealth for His own people. Abraham (Genesis 15) was given a prophecy that his descendants would be enslaved for generations by the Egyptians, but would “come out with great possessions.” When the Israelites left Egypt, this prophecy was fulfilled. (Exodus 11). It was like God had used Egypt as a giant greenhouse to multiply God’s people.

Bottom Line: God purposely set out a strategy to reallocate wealth to His people.

Therefore, I draw two conclusions.

1. Jesus expected Christians to be the best stewards of their money possible, and in some cases, this involved high-yield investing.

2. There is a Biblical precedent that the way God gives good gifts to his children is to take them from those who are disobedient. In practice this holds true today: Analyse many modern-day stories where God has provided material blessing, and it often comes from people whose lives have fallen apart.

So… Can a Christian trade Forex and still be obedient to Jesus? it seems that the answer is “Yes.”

In my case, I believe it would be unfaithful to stop.

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Comment Wall (3 comments)

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I have stopped trading Forex altogether because I have developed serious ethical problems as a Christian with it.

Most types of financial trading and day trading are a zero sum game, even a negative sum game. It produces NOTHING of value, no goods or services, and no wealth is created like in Stock Trading. The net change in total wealth among traders is zero at the end of the day (sometimes even less!) - the wealth is just SHIFTED from one trader to another! (Reallocation of wealth - júst like in gambling)

It is far too close to gambling for me (some skill, a lot of chance), and you make gains ONLY at another's expense! Jesus said that we should love our neighbor as we love ourselves. How can you do that when you profit only at somebody else’s expense? It is a violation of Jesus’ most basic commandment for humanity. And to give to worthy causes from Forex earnings may be great, but the end never justifies the means! I personally consider Forex now essentially a form of legalized stealing and robbery. The experienced Forex trader is committed to “fleecing” those who are inexperienced!

Don’t pray and ask God to help you with your financial trading - I don’t believe He will! Don’t be deceived. When I say God won't help you with your financial trading, I don't mean all trading. I mean trading that tends to be morally wrong. I tried it, while praying a lot about it, and in the end still lost most of my capital. I don't think God will get involved in practices that are very speculative and close to gambling. It is simply against His Word.

Henry Ford said: " Wealth is never attained when sought after directly. It comes as a by-product of supplying a useful service."

An agnostic has even said: “In Forex you’re not doing any useful work, and you’re hoping to make a lot of money from it, right? Isn’t this really like stealing from the public? You’re hoping to get a lot of money from moving currencies around, and you’re not giving the world anything in return - except moving some currencies around. I think that’s just like theft.”

By the way, the odds ate totally stacked up against you in Forex. Up to 95% of small forex traders loose all their money in trading.

Think carefully about what I have said. This is how I think and feel right now. I don't know if anybody can convince me otherwise/refute my arguments?

When I say God won't help you with your financial trading, I don't mean all trading. I mean trading that tends to be morally wrong. I tried it, while praying a lot about it, and in the end still lost most of my capital. I don't think God will get involved in practices that are very speculative and close to gambling. It is simply against His Word.)

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