Honorary Member Q&A: Master Tang

Master Tang a.k.a Jay Jones

###1. What were you doing before you discovered forex trading? We’d love to get details such as when this was or what you were thinking then.

I did, and still do high end finishes in homes, and businesses. For instance, if you opened a restaurant, and wanted an Egyptian theme, I could make it look like the temple at Thebes. Right down to the hieroglyphs. Everything from paint tricks, to murals, to hand carved entries, and fireplace surrounds, etc. It’s a really fun way to earn a buck or two.

Here’s a pic of a hand carved fireplace surround just to give you an idea.

###2. What’s your most memorable experience during your first few months/years in learning forex trading?

Pulling the plug on a $4,000.00+ loser.

A TOUGH lesson.

###3. How long do you think you’ll be trading forex for? (Can you see yourself still trading forex in the next 5 or 10 years?)

The rest of my life. One of the greatest things about trading is the fact that it’s not a contact sport.

###4. If you had to list down the three most important characteristics a successful forex trader should have, what would they be and why?

PATIENCE. The market is a fickle thing. Learning to wait on your best opportunities, instead of feeling like you need to be in a trade all the time, will drastically improve your success.

INDEPENDENCE. Don’t ever enter a trade because of something you read on the news, or a tip from someone else.

Make your trading decisions by yourself. Letting yourself be influenced by other people’s market views can wreck an otherwise great trading strategy.

PRAGMATISM. Be practical, and realistic in all aspects of your trading. Everything from what you expect from the market, to what you can risk on a trade. You read over and over again that beginner traders blow their account because they are undercapitalized.

That is true to a degree, but it’s more likely they have unrealistic expectations of what their account can earn for them.

Trading two dollar pips on a five hundred dollar account is being unrealistic. It’s not undercapitalized, it’s overleveraged.

###5. What’s that one important thing you’ve learned from spending a lot of time on the forums?

What DOESN’T work in trading. If a person is astute, they can read the same mistakes being made over, and over, and over again. Being observant of those will save someone a lot of needlessly wasted time.

###6. What do you like best about the BabyPips.com forum community?

It’s a very friendly, and very informative place. Sure there are other forex forums on the net, and I’ve been to a ton of them, but I find most of the others allow far too much in the way of flamefests, and silliness between members.

Trading methods have very polarizing effects on people. It’s almost religious in nature. There are so many ideas, and successful ways to play the market. And there are so many people more willing to follow blindly, rather than strike out on their own.

It shows up in forums as a lot of contention, should one person disagree with another’s views. Baby Pips doesn’t put up with all the silliness that normally goes along with a disagreement. That is much appreciated.

###7. Give us a link to a forum post you’ve written that you’re really proud of and/or happy with and then a link to your favorite post written by someone else.

Wow… That’s a hard one. Better grab a Snickers, this might take a while. I’ve posted a lot more silly stuff than anything with content.

It has nothing to do with trading, but this video was very moving to me: Think you’re tough emotionless trader?

As for a post from someone else, where would I start? There have been so many good posts, from some extremely knowledgeable people. I don’t know of one I can single out. Probably something from the Alternative Technical Templates threads. Or something by RhodyTrader, or Clint about the inner workings of the market. The way the market works in general is fascinating to me.

###8. If you’re not on the forums or if you’re not trading, what could you be doing?

I still have a viable active business to tend to. I love what I get to do daily.

###9. What do people like doing where you’re from?

It’s very mountainous here, so winter skiing, summer hiking, fishing, hunting. All sorts of outdoors activities. Not to mention Lake Tahoe is only about 25 minutes away. Year round fun.

###10. Just for fun, here’s a silly, non-forex trading related question. If you were on death row, what would your last meal be?

Fugu. Maybe it would get me before the injections, or the electric chair did. :smiley:

Great fireplace!! I enjoyed your q&a too

Whats your biggest winner?


I can’t remember the exact number, and the data is gone due to the broker rolling things over, but it was in the neighborhood of 450 pips.

It was during the Japanese intervention after the earthquake.

Hey man, you’re a white guy…

Is that shocking?


yeah, but he can’t jump

lol…Yeah…but best of everything to you. : o)

Nope (although, nevertheless, I think I do a pretty good job of it for them)!!! LOL!!! I’m just fortunate enough to be trading with one of the few honest and reliable brokers on the planet (had I not come across them I probably would have given up on this ‘trading lark’ based on my experience of what I PERCEIVED to be the ‘real’ market and ‘real’ trading thanks to my first one or two ‘bucketshop’ brokers). And yes: they ‘entrust’ me with their good name to provide technical support given that I ‘know the platform like the back of my hand’. chaussuresnikes-pascher.com,Chaussures Nike Pas Chere,Nike France - ChaussuresNikes-pascher.com And yes (a few things being equal): I’ll be a part of them soon. But that’s about it up until now. Other than that: I’m just a ‘lowly ol trader’ like everybody else around here that has REFUSED POINT BLANK to give up on this business in its many shapes and forms is all.