Frankly I am disappointed with myself....totally screwed-up for my forex trades as I lost about 3/4 of my total profit in my fund in just two days of trading. Why? I didn't put in a stop-loss for my trades becoz I felt USD/JPY and USD/CAD were already too low to fall lower. But they both did so....until I gave up on Thursday and kena stopped out. Then when the non-farm job data came out....I still go "long" for USD/JPY but didn't do a thing for USD/CAD. Yes....USD/JPY continued to fall while USD/CAD "fly", worst I kena stop-out for both my "short" trades for EUR/USD and GBP/USD.
Well...back to the drawing board!
Friday, August 06, 2010
One from my old memories
Yes, just chanced on a food blogspot about Penang food. And it brought back old memories of my time there. Btw I was born there...but I came back to Singapore with my parents when they shut up shop there. Wow...about near to 40yrs ago to be actual, it was 39yrs back!
Yes...this food blog is http://makanpenang.blogspot.com
Yes...this food blog is http://makanpenang.blogspot.com
Saturday, July 31, 2010
weekly up-date
Well....after attending more forex/stock talks plus going back to class for forex, I managed to get back to winning pips. Yes, for 2 days....Thu and Fri I managed to add another 10+% to my total funding with Onada. Not bad...esp with a few trades mainly Eur/USD - long and USD/CAD - short.
For stock.....also added about 10% too to my fund with MFG when SMIC shot-up on Fri. I have 200 lots and even after suffering a loss for my holding in Noble.
4D - no luck.
For the coming week....hope that SMIC will continue to run and I think it should do continue becoz the "1.3 billion - new funding" shares should have been sold. Without this over-hang....the share price managed to run.
For forex....will go long for USD/JPY for some retracement since it was traded at 17yrs "low" on last Fri. Japan is also "cooling off" therefore shouldn't be too different from the situation in US. Understand....last Fri being end of the month and last day of the week, price maybe out of whack. I am also holding onto some losses from my present holding....USD/SGD and USD/CAD pairs, in fact for my USD/CAD I am in the black at Fri's close becoz it retraced back about 30+ pips at the close.
I shall be attending another trader's class on this coming Tue by Kinetic. I am going to do the funding on that day too for my forex account with them.
For stock.....also added about 10% too to my fund with MFG when SMIC shot-up on Fri. I have 200 lots and even after suffering a loss for my holding in Noble.
4D - no luck.
For the coming week....hope that SMIC will continue to run and I think it should do continue becoz the "1.3 billion - new funding" shares should have been sold. Without this over-hang....the share price managed to run.
For forex....will go long for USD/JPY for some retracement since it was traded at 17yrs "low" on last Fri. Japan is also "cooling off" therefore shouldn't be too different from the situation in US. Understand....last Fri being end of the month and last day of the week, price maybe out of whack. I am also holding onto some losses from my present holding....USD/SGD and USD/CAD pairs, in fact for my USD/CAD I am in the black at Fri's close becoz it retraced back about 30+ pips at the close.
I shall be attending another trader's class on this coming Tue by Kinetic. I am going to do the funding on that day too for my forex account with them.
Thursday, July 29, 2010
Back to basic
Yes....starting to go back for reflesher's classes for my forex trading since I have return most of what I learned to the teachers. Went back to the Monday's afternoon one and plus attending classes by the brokers. Went to CMC Market....in Singapore Land Tower to listen to what they teach but found their platforms to be hard to use esp the charts.
I have already find using the platforms from MFG and Onada confusing at times....and
now have to learn another one is too troublesome. Btw...since I will be signing with Kinetic Securities for their forex thingy and therefore have to learn to use their platform - MT4 and a new up-date version soon MT5 for all their products eg forex, CFD, Index and etc.
Yes....will attend their training next Tuesday to learn how to use their platform for forex then for other stuffs.
Did well for my forex trading today....hope to continue the good run. Cheers!
I have already find using the platforms from MFG and Onada confusing at times....and
now have to learn another one is too troublesome. Btw...since I will be signing with Kinetic Securities for their forex thingy and therefore have to learn to use their platform - MT4 and a new up-date version soon MT5 for all their products eg forex, CFD, Index and etc.
Yes....will attend their training next Tuesday to learn how to use their platform for forex then for other stuffs.
Did well for my forex trading today....hope to continue the good run. Cheers!
Friday, July 23, 2010
Week's up-date
Man...now I recalled what I did during my winning "runs" for my forex trading in early June. Yes....the recommendations from MF Global were spot-on esp for Eur/USD and USD/JPY pairs for the 2 weeks. I was able to quickly made up for all my initial
losses in that time.
Then...in the 3rd week, there was a screwed-up call and I got whacked....same thing
for the 4th week. 2 wrong calls....and I lose back nearly 30% of total fund. I weren't following any money management system but just pure casino cheonging system
of doubling my new bets all the time while adjusting my SL to prevent stopped-out.
Only until I kena to 2 wrong calls that I realised the danger of the whole silly method. Then....I start to add new methods of using bollinger band and MACD. But
at the same time...I started to "chicken out" on my trades. Put more cushions to
my "limit orders" which end up lesser triggering and me losing my interest for
trading and paying more interest to stocks. After awhile....almost forgotten how
to trade forex again. My confident in forex trading....almost "gone" too. Luckily
my wife started to show an interest and me have to show her how to trade since she
used my Onada trading account to trade.
Yes....now I totally recalled what and how I was able to have my "so-called bullish"
run. Now I think....I can refine the way I can do it again without taking the "added" risk of having huge loss if call is wrong. No changing of SL...for my orders, that way will limit my losses to whatever SL I put into my order while I
will let the winning runs.
I will continue to use the MF Global's recommendation as a guide but I will refine
my new entries using Bollinger band & MACD for my entry and exit.
This week....result for forex, I was able to stop my losses even with some screw-up recommendations and no triggerings.
For Stocks....esp HK market, SMIC is still not doing well....down from 53 cts to close at 50 cts. And me....losing nearly another 30 % of my funding. Now my fund is
at less than 20% of my inital capital. SHIT!!
losses in that time.
Then...in the 3rd week, there was a screwed-up call and I got whacked....same thing
for the 4th week. 2 wrong calls....and I lose back nearly 30% of total fund. I weren't following any money management system but just pure casino cheonging system
of doubling my new bets all the time while adjusting my SL to prevent stopped-out.
Only until I kena to 2 wrong calls that I realised the danger of the whole silly method. Then....I start to add new methods of using bollinger band and MACD. But
at the same time...I started to "chicken out" on my trades. Put more cushions to
my "limit orders" which end up lesser triggering and me losing my interest for
trading and paying more interest to stocks. After awhile....almost forgotten how
to trade forex again. My confident in forex trading....almost "gone" too. Luckily
my wife started to show an interest and me have to show her how to trade since she
used my Onada trading account to trade.
Yes....now I totally recalled what and how I was able to have my "so-called bullish"
run. Now I think....I can refine the way I can do it again without taking the "added" risk of having huge loss if call is wrong. No changing of SL...for my orders, that way will limit my losses to whatever SL I put into my order while I
will let the winning runs.
I will continue to use the MF Global's recommendation as a guide but I will refine
my new entries using Bollinger band & MACD for my entry and exit.
This week....result for forex, I was able to stop my losses even with some screw-up recommendations and no triggerings.
For Stocks....esp HK market, SMIC is still not doing well....down from 53 cts to close at 50 cts. And me....losing nearly another 30 % of my funding. Now my fund is
at less than 20% of my inital capital. SHIT!!
Wednesday, July 21, 2010
Got this from Bethea@myhealthwealthandhappiness.com
Dear Laurence,
How grateful would you say you are? Did you know that your gratitude level can directly affect your wealth and happiness? Now that may sound strange, especially in light of our current economy, but I've seen it time and time again in my work with clients. I have guided many clients whose charts I felt displayed a need for gratitude to bring about positive change in their lives. And I'm happy to say that those who took my advice to heart have reported a positive shift in their lives and a boost in the things they view as good, including increased wealth.
Even financial experts and abundance speakers agree that gratitude is a vital component for increasing wealth and success. This basic premise of gratitude is to acquire a more positive and receptive state of being. Here is how it actually works. Laurence, you begin by being grateful for the smaller and more immediate things like having a place to live, food to eat, and a car to get around, etc. By placing yourself in a positive frame of mind through gratitude, you open yourself to all the good things the universe has to offer.
That is when you can actually begin to attract good things to you, and most of us could certainly benefit from this idea right now. As you become more comfortable with the positive things that basic gratitude brings, you will likely find yourself feeling grateful for even bigger things like being alive, learning hard lessons, your past mistakes, the freedom to make choices in life, and more. This type of gratitude catapults you even further along the path to a successful and happy life. That's because you begin to lose your fear of change or loss and you begin to develop a deep appreciation for the exciting adventure that life truly is.
Once you reach the point where you remain in a constant state of gratitude, you will become a magnet that attracts the positive things to you . . . the things that resonate with who you are and what you desire to do with your life.
So, Laurence, if you are ready to enjoy more happiness and wealth, I challenge you to take some time every day this week to note those things that you are grateful for, from the smallest little gifts to the bigger ones. And may you attract the most wonderful and beneficial things into your life.
Conclusion - well, frankly I never really bother to read thru the whole thing but for today....since I am free, I read this and find it interesting. So I shared it here. Yeah....no harm to open eyes to read things that can help with our daily living. haha
How grateful would you say you are? Did you know that your gratitude level can directly affect your wealth and happiness? Now that may sound strange, especially in light of our current economy, but I've seen it time and time again in my work with clients. I have guided many clients whose charts I felt displayed a need for gratitude to bring about positive change in their lives. And I'm happy to say that those who took my advice to heart have reported a positive shift in their lives and a boost in the things they view as good, including increased wealth.
Even financial experts and abundance speakers agree that gratitude is a vital component for increasing wealth and success. This basic premise of gratitude is to acquire a more positive and receptive state of being. Here is how it actually works. Laurence, you begin by being grateful for the smaller and more immediate things like having a place to live, food to eat, and a car to get around, etc. By placing yourself in a positive frame of mind through gratitude, you open yourself to all the good things the universe has to offer.
That is when you can actually begin to attract good things to you, and most of us could certainly benefit from this idea right now. As you become more comfortable with the positive things that basic gratitude brings, you will likely find yourself feeling grateful for even bigger things like being alive, learning hard lessons, your past mistakes, the freedom to make choices in life, and more. This type of gratitude catapults you even further along the path to a successful and happy life. That's because you begin to lose your fear of change or loss and you begin to develop a deep appreciation for the exciting adventure that life truly is.
Once you reach the point where you remain in a constant state of gratitude, you will become a magnet that attracts the positive things to you . . . the things that resonate with who you are and what you desire to do with your life.
So, Laurence, if you are ready to enjoy more happiness and wealth, I challenge you to take some time every day this week to note those things that you are grateful for, from the smallest little gifts to the bigger ones. And may you attract the most wonderful and beneficial things into your life.
Conclusion - well, frankly I never really bother to read thru the whole thing but for today....since I am free, I read this and find it interesting. So I shared it here. Yeah....no harm to open eyes to read things that can help with our daily living. haha
Thursday, July 15, 2010
Thursday
Yes, my 2nd favorite football team won the WC2010 and I am happy that they finally done it. Of course, it went into extra time and so on. Still....Spain managed to do
itself an big favor at the end.
Now...back to work again and I have the time to read up some Forex e-book that I bought via the Internet. No chance to read when not working....due to busy on the pc to trade the forex or during the day ...stock.
Stock...screwed up and over sold 12 lots of Sound Global on Monday, therefore on Tuesday got a call from the remisier to go down to the office to open new "scrip loaning account" or face a penalty from SGX for selling "short". No choice but to get things sort-out. Luckily by the time, she bought back I managed to make $250 after minusing the charges and commission for the whole deal....42 lots. Cannot buy back just 12 lots...I don't want to argue why not, since the price has dropped by the time of the buy back. Today....I sold off the 30 lots at the same price that I sold on Monday...so, not a bad deal lor. For the rest of my HK holding eg SMIC and China food, they are still holding inspite the big drop for HK index today.
Forex....again 2 steps forward and 3 steps backwards so far this week. Did well enough on Monday and Tuesday then come Wednesday kena "bite". In fact....due to my stubbornness of not wanting to close and lose a small amount that I end-up kena whacked by nearly 10% of my fund. When I saw my second entry started to lose the "pips", I checked the other time frame for my pair and I found I have entered
with a wrong set-up. But since I have entered I tried to save the situation by entering the 3rd position....and I was back to make some money within 10 mins but I end-up being greedy and added a 4th position. Then....it just dropped nearly 40 pips
straight down right before my eyes. I was stopped out for the first 2 positions and down by more than 20+ pips for my last 2 positions. Instead of adding positions to try to ave down....I decided to just take my chance with the 2 positions. Yes, they managed to recover most of their losses until another sudden drop of more the 30+pips that wiped out my last 2 positions. Learned a lesson not to be lazy when trading and to check the set-up carefully before entering a trade. If not within set-up then place a limit order to sell/buy. No need to enter blindly.
4D....kena makan.
itself an big favor at the end.
Now...back to work again and I have the time to read up some Forex e-book that I bought via the Internet. No chance to read when not working....due to busy on the pc to trade the forex or during the day ...stock.
Stock...screwed up and over sold 12 lots of Sound Global on Monday, therefore on Tuesday got a call from the remisier to go down to the office to open new "scrip loaning account" or face a penalty from SGX for selling "short". No choice but to get things sort-out. Luckily by the time, she bought back I managed to make $250 after minusing the charges and commission for the whole deal....42 lots. Cannot buy back just 12 lots...I don't want to argue why not, since the price has dropped by the time of the buy back. Today....I sold off the 30 lots at the same price that I sold on Monday...so, not a bad deal lor. For the rest of my HK holding eg SMIC and China food, they are still holding inspite the big drop for HK index today.
Forex....again 2 steps forward and 3 steps backwards so far this week. Did well enough on Monday and Tuesday then come Wednesday kena "bite". In fact....due to my stubbornness of not wanting to close and lose a small amount that I end-up kena whacked by nearly 10% of my fund. When I saw my second entry started to lose the "pips", I checked the other time frame for my pair and I found I have entered
with a wrong set-up. But since I have entered I tried to save the situation by entering the 3rd position....and I was back to make some money within 10 mins but I end-up being greedy and added a 4th position. Then....it just dropped nearly 40 pips
straight down right before my eyes. I was stopped out for the first 2 positions and down by more than 20+ pips for my last 2 positions. Instead of adding positions to try to ave down....I decided to just take my chance with the 2 positions. Yes, they managed to recover most of their losses until another sudden drop of more the 30+pips that wiped out my last 2 positions. Learned a lesson not to be lazy when trading and to check the set-up carefully before entering a trade. If not within set-up then place a limit order to sell/buy. No need to enter blindly.
4D....kena makan.
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