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About Me

marquezcomelab

My full name is Marquez Comelab. I live in Melbourne, Australia.

I started trading when I was twenty-two years old, when I was still earning my Bachelor's degree in Commerce which focused on accounting, banking and finance.

MY FIRST EXPERIENCES OF TRADING

I began trading the share market before the tech stock market collapse. Unlike the many people who lost vast amounts of money in this event, I was fortunate. I learnt enough about trading and the use of technical analysis to close all my trades two working days before the panic selling began.

A few days before I closed all my positions in the market, I warned my parents to do the same. They had invested much of their money in the stock market and I wanted them to avoid the bursting of the bubble: the bubble of 'irrational exuberance' which possessed the markets at the time. My father believed the share price was a function of the value of the underlying company. The value of a company could not deteriorate so quickly that he would not have time to save his money. When he finally got his head around the reality that share prices do not always reflect the value of a company, he had already lost more than half of his account.

The 'tech crash' was a harrowing event for my parents and for the thousands of people around the world who invested in the stock market. Being out of the market, I was able to stay emotionally detached from what was happening. I was in a frame of mind calm enough to observe and learn from what was happening. I remember telling myself that my mission was to learn as much as I could and come out of the experience as a wiser man. I was sitting in the front seat, witnessing a historical event when the market struck fear into the hearts and minds of people who had come with the ambition to make money.

FROM SHARES TO CURRENCIES (FOREX)

After the 'carnage' - as some journalists put it - there were not many trading opportunities in the stock market for me. I was learning a lot from books about trading methods and psychology. I wanted to apply what I learnt and I got frustrated with the lack of upside trends in the stock market. I was warned earlier on in my trading career that as a beginner, I was better off trading shares before moving on to trading other markets. I followed this sensible advice, but I came to a point where my progress was being impeded by the lack of tradeable movement in the stock market, especially the stocks I wanted to get into. I also resented the fact that my small account was being eaten away by the transaction costs imposed by data providers, brokers and the like. I suppose some might say you shouldn't be playing with the stock market with a small account anyway. But I wanted to learn how to trade regardless of the size of my account. Self-improvement is not only for the rich!

I began to look for other markets and other assets to trade: where one can profit from a rising or a falling market. I looked at futures and options, but they were not for me at the time. I then came across a seminar organised by a forex broker, based in Perth, educating people about the foreign exchange market: a market where people trade currencies. From that day onwards, I switched from trading shares to trading currencies. I have not looked back since.

By trading forex, I have managed to overcome many of the disadvantages I had as a lightly-financed beginner. The power of leverage and the ability to trade position sizes that are relatively small, compared to my account, allowed me to spend my time and effort on overcoming my emotions and developing my trading methodology.

ABOUT THE BOOK: THE PART-TIME CURRENCY TRADER

Prior to writing The Part-Time Currency Trader, I met several people who wanted to know more about forex. I referred them to some books and websites about forex and trading in general. All of them came back to me and said they had trouble understanding most of what was being discussed. They said they were able to understand the subject matter easier when I talked to them. They suggested that I write a book to introduce them to forex and to provide them with an approach to trading.

I did not take action on the suggestion immediately. It took me a couple of years because I wanted to focus on my trading. I waited until I had a method that promised me an acceptable return and, more importantly, a system that I could follow without question. After overcoming the emotional aspects of trading and arriving at a trading system and a position-sizing strategy that I could follow with full confidence and discipline, there is nothing left for me to do but allow my system to filter the market for a year or two.

Arriving in this position brought me great relief. There were times when I thought that maybe trading was not for me but finally, there is light at the end of the tunnel, and I am getting closer and closer to it everyday. It is only a matter of time before I achieve a personal milestone I have set for myself. I find myself being able to relax a little more and I have more time to challenge myself with other endeavours...like writing a book.

I never thought of writing a book. However, in my journey as a trader, I realised that if it wasn't for other traders who shared their wisdom, wrote about their experiences and their methods, I would have found it a lot harder to progress. Every book I read gave me something to think about: something that guided me where to go. In every project I have undertaken - be it writing songs, recording music, starting businesses and trading - I gained the initial knowledge I needed from books.

I realise there is - and it should continue to exist - a relationship between those who have something to teach (teachers) and those who have something to learn (students). For a society to progress, individuals who spend their time studying something should share their knowledge with the rest. Just as importantly, however, those who want to learn must support these individuals by respecting copyright. This provides their teachers the means to advance their study. Together, they can continue to push the boundaries of possibility.

I wrote the book: The Part-Time Currency Trader, for anybody wanting to trade the forex market. There are stages to mastering trading. In each stage there are important lessons to be learnt. In my journey as a trader, I have made mistakes and I have bumped into pivotal lessons that have changed my thinking. If you fail to learn these same lessons, I am certain that you will never attain your full potential as a trader. It is these lessons that I try to impart on you with this book.

Trading is hard and most traders fail dismally. It is not a skill that you are not likely to master in under a month or two. It may take you years. But what doesn't? In the real world, there are no magic tricks to become an instant success. The same is true in trading. But despite this, you may still decide to trade, because it is still one of the few endeavours on earth that can give you the means to be free to live the life you want.

The market is always changing. What works now is not guaranteed to work next month or next year. So what I offer you instead is a trading methodology: an entire approach that took me years to discover, learn and develop. By giving you this, I give you the foundation to create your own trading strategies, regardless of any market conditions. If you find one truth, one statement or logic - somewhere in these 241 pages or so - that would make your journey faster, shorter and less painful, or even perhaps help you avoid losing a hundred dollars just once, then you will have recouped the time and financial investment you have spent for this book.

WHAT'S AHEAD?

For a trader, the journey never ends, one cannot stand on a plateau. The market is always moving. One needs to continually adapt and one can always find ways to improve. I continue to trade, continue on improving my systems, methods and strategies, as well as, accumulate knowledge and develop the mindset and the emotional discipline to trade successfully while I establish a track record. Eventually, I hope to establish and operate my own hedge fund in the future.

I used to share my weekly trading strategies and analyses on this website during the weekends but it took a lot of time so now, I just blog every now and then. Feel free to email me and say hello. I also registered to websites like Linked-In. Invite me to join your network. I am always happy to get to know other traders, as well as others from finance, publishing and other industries.

Cheers!

Marquez.