At this point in time I am beginning to wonder how did Kiyosaki develop his board game...
Did he work from scratch based on the experience he had playing monopoly and his key financial strategies & understanding? From scratch? How? Well, that's a good question to ask, since questions can lead to answers, of course not without a search. I do believe it's possible...or might there be alternatives on the market. Let me run a quick search.
That wasn't quite quick. I took at least 15 mins reading up on The Game of Life and its background. Didn't exactly find what I intend to design which is geared towards education and the academic understanding and application of economic principles.
Gotta start work for today. Probably will think about the general layout and framework of the game later during my breaks.
I can't help but wonder if anyone who test-play the game if I asked them to.
Thursday 29 March 2007
Wednesday 28 March 2007
The joy of sharing
Haha...sounds like Christmas came later by 3 months...instead of sharing in December, I actually did it last night!
One was with my colleague. We talked abit of our financial futures and how his interest in managing his own portfolio and getting his freedom after reading RDPD. And he said something which I think is very reflective of the book: No, it's not "I can't get enough" but "It's not enough" in terms of how to go about doing things after getting all raved up and excited about seeing a "rich man's world." And so I showed him a book I borrowed from Shirin - Rich Woman - by Kim, Kiyosaki's wife. There's one particular chapter I like which is about finally turning ideas and words and excitement into purpose and plan. Well, I've done some "quiet time" on that yesterday and determined I need a monthly cashflow of Singapore Dollars 5500 after I grad from university.
But for now my vehicle is forex for capital gains. I haven't envisioned myself doing cashflow investments...but I guess I'll have to get there cos that is true freedom. Even trading is considered sort of active income since you have to actively trade ya know!
Haha...and well...the second incident is meeting Lionel, my understudy in camp, online. Told him about my idea of building a game around economics concept, and he said he would buy it from me if it is good! Imagine that! I've my first potential customer without even asking! Haha...anyway...my purpose is to make learning economics principles easy and fun...not to sell...
Well...we continued to talk and Lionel mentioned that he hardly can understand what the financial books and terms are about. And I think we came to a rough conclusion that we have to meet...and so I told him that I'm free Monday and Friday evenings and Saturday and Sunday mornings. He suggested Saturday morning...and I realised I might have OT on my job...so...I suggested 6.30am. I was thinking...most people will say it's crazy to meet so early...and so it's kinda a test to see if he is really interested and motivated.
I'm darn glad my dear bro passed the "test" and proved his determination. Haha, congrats Lionel(if you are reading this)! Just realised I'm not familiar with equities at all, so I better send him a msg to caution him.
And so, everyone, continue having fun learning!
One was with my colleague. We talked abit of our financial futures and how his interest in managing his own portfolio and getting his freedom after reading RDPD. And he said something which I think is very reflective of the book: No, it's not "I can't get enough" but "It's not enough" in terms of how to go about doing things after getting all raved up and excited about seeing a "rich man's world." And so I showed him a book I borrowed from Shirin - Rich Woman - by Kim, Kiyosaki's wife. There's one particular chapter I like which is about finally turning ideas and words and excitement into purpose and plan. Well, I've done some "quiet time" on that yesterday and determined I need a monthly cashflow of Singapore Dollars 5500 after I grad from university.
But for now my vehicle is forex for capital gains. I haven't envisioned myself doing cashflow investments...but I guess I'll have to get there cos that is true freedom. Even trading is considered sort of active income since you have to actively trade ya know!
Haha...and well...the second incident is meeting Lionel, my understudy in camp, online. Told him about my idea of building a game around economics concept, and he said he would buy it from me if it is good! Imagine that! I've my first potential customer without even asking! Haha...anyway...my purpose is to make learning economics principles easy and fun...not to sell...
Well...we continued to talk and Lionel mentioned that he hardly can understand what the financial books and terms are about. And I think we came to a rough conclusion that we have to meet...and so I told him that I'm free Monday and Friday evenings and Saturday and Sunday mornings. He suggested Saturday morning...and I realised I might have OT on my job...so...I suggested 6.30am. I was thinking...most people will say it's crazy to meet so early...and so it's kinda a test to see if he is really interested and motivated.
I'm darn glad my dear bro passed the "test" and proved his determination. Haha, congrats Lionel(if you are reading this)! Just realised I'm not familiar with equities at all, so I better send him a msg to caution him.
And so, everyone, continue having fun learning!
Tuesday 27 March 2007
Control
Arguably the most impt word in Kiyosaki's, and any financial, books is CONTROL. Well...control over what? Mostly over the autonomy and decision-making over an entity/investment.
Today this concept struck me twice. Firstly by an insurance agent who tried to get me to invest in some international forex unit trust - which mainly trades in bonds and gain based on interest differentials between countries. End of the day, I simply can't know what those guys called fund managers will do with my money...so I doubt I'll go into that even if I have the cash.
Quite happy today. Cos I was doing some calculations and projections of my income and account balances by the time I enter uni...which is about 3 mths away. And I found that having a job allows me some control over how much stays in my bank account and the ability to look at and involve myself in investments proper. The question is...how do I switch from earning 1.5k now to just 700+ depending on tuition fees during my uni days?
I've decided that I need to change my income distribution strategy. And so effective April 1, my tuition income will no longer be a 50% investment fund, 30% expenditure acc, 20% UNIs; but a 60% investment fund, 30% expenditure acc, 10% charity pool. This is to incorporate my recent thought of giving back into my actual money management. Projected amount which I'll be able to give to those who need it more would be around 500 per annum. Sure hope it can increase in future.
Today Firman doesn't seem so comfortable with the nice concepts of retiring young and rich. Think he must have grown desperate so he is looking for some job security and cash from jobs now. Honestly I can't fully understand his viewpoint. But I'm sure I'll do the same. We'll work it thru somehow, and I feel it is already time we start doing what we've been talking and experimenting about. I suppose we'll learn the real stuff if we start trading and investing "live."
Hope everyone is learning, earning and having fun!
Today this concept struck me twice. Firstly by an insurance agent who tried to get me to invest in some international forex unit trust - which mainly trades in bonds and gain based on interest differentials between countries. End of the day, I simply can't know what those guys called fund managers will do with my money...so I doubt I'll go into that even if I have the cash.
Quite happy today. Cos I was doing some calculations and projections of my income and account balances by the time I enter uni...which is about 3 mths away. And I found that having a job allows me some control over how much stays in my bank account and the ability to look at and involve myself in investments proper. The question is...how do I switch from earning 1.5k now to just 700+ depending on tuition fees during my uni days?
I've decided that I need to change my income distribution strategy. And so effective April 1, my tuition income will no longer be a 50% investment fund, 30% expenditure acc, 20% UNIs; but a 60% investment fund, 30% expenditure acc, 10% charity pool. This is to incorporate my recent thought of giving back into my actual money management. Projected amount which I'll be able to give to those who need it more would be around 500 per annum. Sure hope it can increase in future.
Today Firman doesn't seem so comfortable with the nice concepts of retiring young and rich. Think he must have grown desperate so he is looking for some job security and cash from jobs now. Honestly I can't fully understand his viewpoint. But I'm sure I'll do the same. We'll work it thru somehow, and I feel it is already time we start doing what we've been talking and experimenting about. I suppose we'll learn the real stuff if we start trading and investing "live."
Hope everyone is learning, earning and having fun!
Monday 26 March 2007
Minor Trials
Haha...not that I had to appear in the judicial courts...just some periods testing the endurance of my dear friend and partner Firman. He's definitely far from giving up from this fight for freedom...but he said to me "Look at what state we are in now" or something to that extent. And guess what, on retrospection, I actually got defensive and mentioned all that I've been "trying" to do...that I've been working on this board game, seeked out a forex fund to invest in, building my investment fund and looking into forex option...
And do you know my immediate of sending the sms when I did? I thought of encouraging him and show how that we are doing something. But I realised a good part of it was defensiveness and boastfulness. Which really doesn't help things.
When I read what I sent him now, I must sound like a egolistic being. And the effect on Firman would be far from my intention. Moreover, all those minor "successes" all came into my life by chance and not by deliberate effort. Neither did I really study them thoroughly. This is a setback but also a wake up call. A call to action instead of so much talk and probes into subjects like forex, real estate, stocks, etc.
I think the moment we really start learning is when we do things for real.
Have you done so?
And do you know my immediate of sending the sms when I did? I thought of encouraging him and show how that we are doing something. But I realised a good part of it was defensiveness and boastfulness. Which really doesn't help things.
When I read what I sent him now, I must sound like a egolistic being. And the effect on Firman would be far from my intention. Moreover, all those minor "successes" all came into my life by chance and not by deliberate effort. Neither did I really study them thoroughly. This is a setback but also a wake up call. A call to action instead of so much talk and probes into subjects like forex, real estate, stocks, etc.
I think the moment we really start learning is when we do things for real.
Have you done so?
Sunday 25 March 2007
A game
Something's keeping me awake this 2 days. Not from sleep but from a boring day-to-day existence. So I thought maybe I can share it with you guys. Basically it's about how to creatively solve the "boringness" and "dryness" of basic economics studies. Haha, sounds impossible? I thought if people can find it fun to decide their life outcome and financial ability or war results on a board, then why not learn how to govern a country's economics and decide it's future. Well, I'll need some time to work it out, but the first step is to play other successful games, especially Rich Dad's Cashflow 101 and 202. Haha, can u believe it? I haven't even seen the game in any form before.
Secondly, to introduce my first link to my blog! It's my friend's Biz Blog so do have a look at the self-made accessories she provides yeah! Pretty interesting designs I must say.
Gotta go now, happy trading till next time!
Secondly, to introduce my first link to my blog! It's my friend's Biz Blog so do have a look at the self-made accessories she provides yeah! Pretty interesting designs I must say.
Gotta go now, happy trading till next time!
Thursday 22 March 2007
Forex Options?
Context-expanding, this morning is! After all the talk about insurance on the stock market(or paper assets in general) presented in Kiyosaki's Retire Young Retire Rich...and the closing chapter on how he changed his perception to finally believe in a world where alot of money can be made with no money and no risk...I was wondering...how come my trading in forex can't be insured?
And that was totally foreign to me. I thought options belonged to the stock market and nowhere else, but I remember my Dad telling me about how insurance companies can underwrite (another key word!) to insure against any fall in the value of a currency for a fixed period of time for a premium.
So insurance for forex does exists! I just had to search on yahoo for "options for trading forex" and here's what I found...so that's a nice introduction for now...and I'm gonna study(hopefully with likeminded traders, possibly Firman and Eusof) such an option(pun intended!) in detail possibly over the next few weeks...
So can money be made with no money and no risk?
And that was totally foreign to me. I thought options belonged to the stock market and nowhere else, but I remember my Dad telling me about how insurance companies can underwrite (another key word!) to insure against any fall in the value of a currency for a fixed period of time for a premium.
So insurance for forex does exists! I just had to search on yahoo for "options for trading forex" and here's what I found...so that's a nice introduction for now...and I'm gonna study(hopefully with likeminded traders, possibly Firman and Eusof) such an option(pun intended!) in detail possibly over the next few weeks...
So can money be made with no money and no risk?
Wednesday 21 March 2007
Defining my Approach
Well, today I wrote a draft as to how I would evaluate and approach forex trading and when to open positions. I would like to quote here that "all problems solved = wealth gained"...
Obviously, I see many questions marks on my preliminary strategy. Questions like how do I decide my stop loss and target profit levels, and which graphs to apply the various indicators, and even how to actually read and use the indicators and what they mean...The list can go on, but I recognise I have my skeleton which is to analyse the trends from big to small, that is, I would look at 4 graphs...Daily, 4hours, hourly, 15mins...Drawing trendlines and channels for all the graphs, I would be better equipped to spot longer term trends, before I focus on the shorter time graphs like the hourly and 15mins to spot the best opportunity to open my trade...
And obviously that system needs alot more work and defining...For now I am contented that I have started to develop my strategy and attempt to keep to it...
And I am increasingly thankful for getting the book "Retire Young Retire Rich"...one very interesting aspect of the book is on hedging against losses in paper assets like stocks...and the use of options to this end...it is intriguing to discover how I can apply such techniques to forex trading...
Another important note is that I managed to initiate one of my colleagues, nicknamed CCC, onto a more serious approach to investing by reading "Rich Dad Poor Dad"...now he can't wait to get his hands on "Cashflow Quadrants"...Now that is a very good start...but of course, like many of my dear readers know...it still requires sustained and dedicated, targetted effort...
In any case, I am happy as to what I see in my life now...and hope everyone else is happy and progressing in many ways too!
Obviously, I see many questions marks on my preliminary strategy. Questions like how do I decide my stop loss and target profit levels, and which graphs to apply the various indicators, and even how to actually read and use the indicators and what they mean...The list can go on, but I recognise I have my skeleton which is to analyse the trends from big to small, that is, I would look at 4 graphs...Daily, 4hours, hourly, 15mins...Drawing trendlines and channels for all the graphs, I would be better equipped to spot longer term trends, before I focus on the shorter time graphs like the hourly and 15mins to spot the best opportunity to open my trade...
And obviously that system needs alot more work and defining...For now I am contented that I have started to develop my strategy and attempt to keep to it...
And I am increasingly thankful for getting the book "Retire Young Retire Rich"...one very interesting aspect of the book is on hedging against losses in paper assets like stocks...and the use of options to this end...it is intriguing to discover how I can apply such techniques to forex trading...
Another important note is that I managed to initiate one of my colleagues, nicknamed CCC, onto a more serious approach to investing by reading "Rich Dad Poor Dad"...now he can't wait to get his hands on "Cashflow Quadrants"...Now that is a very good start...but of course, like many of my dear readers know...it still requires sustained and dedicated, targetted effort...
In any case, I am happy as to what I see in my life now...and hope everyone else is happy and progressing in many ways too!
Tuesday 20 March 2007
The Lack of Effort
A few things convened or occurred within this time period which points me to this lesson I have to learn.
For one, my girlfriend have decided I don't seem to care enough to make any gifts worthy of her except for the very first gift. Honestly, I thought otherwise...I thought I've always been trying to be hands-on and make gifts for her. Well, not that they turn out great...but still there are stuff which I put effort into...And this brings me to the claim I often make...that I'm simply not romantic enough to be any more inspired to make better gifts or create a meaningful or romantic ambience or situation for our special days...
But I realised that is the limitation I set upon myself -- The same way I limit myself by telling myself and others that I simply cannot look good and attractive or even feel good about myself. But as my little "makeover" experience shows...I can be satisfied or even amazed at how my image can be so much better with some effort on my part to do so.
That brings me to think of my efforts in growing my forex trading abilities. And what Clarence said about approaching forex from a viewpoint of intending to survive on trading full-time -- that it would drastically shorten our learning curve since we would be more serious. To come clean...I haven't even used or tried the system I've been taught by Clarence with any bit of faithfulness.
2 reference to sources of my learning. One is Kiyosaki in his "Retire Young Retire Rich" which I happen to be reading right now. The keyword here is CONTEXT! So what is context? Well...it can be seen as capacity...like a capacity of a jug...(I should really draw the diagram here) Think about this...can a jug hold 30litres of water if it's capacity is 10litres? NO! So the only way we can improve beyond our current limitations is to grow our capacity, by expanding the jug. And the way we can do that is by getting inspired by hearing success stories, by reading, by opening our mind to new possibilities, by defining new realities for ourselves. And that's a really important step for me to take now. To stop telling myself I can't...that I'm unattractive...I can't be that successful in making the money I want...I can't be romantic...and accept that I CAN!
The other source is on deliberate effort. It expounds the fact that most "geniuses" actually spend alot more time and directed and planned effort in improving themselves in their field than what is widely recognised when they become successful. And that is an attempt at improving content, or the volume of the water in the jug. But I think it really starts with expanding the jug and then the topping up of the volume(or know-how) comes in later. I lost the link...but I'll try to put it up later.
For one, my girlfriend have decided I don't seem to care enough to make any gifts worthy of her except for the very first gift. Honestly, I thought otherwise...I thought I've always been trying to be hands-on and make gifts for her. Well, not that they turn out great...but still there are stuff which I put effort into...And this brings me to the claim I often make...that I'm simply not romantic enough to be any more inspired to make better gifts or create a meaningful or romantic ambience or situation for our special days...
But I realised that is the limitation I set upon myself -- The same way I limit myself by telling myself and others that I simply cannot look good and attractive or even feel good about myself. But as my little "makeover" experience shows...I can be satisfied or even amazed at how my image can be so much better with some effort on my part to do so.
That brings me to think of my efforts in growing my forex trading abilities. And what Clarence said about approaching forex from a viewpoint of intending to survive on trading full-time -- that it would drastically shorten our learning curve since we would be more serious. To come clean...I haven't even used or tried the system I've been taught by Clarence with any bit of faithfulness.
2 reference to sources of my learning. One is Kiyosaki in his "Retire Young Retire Rich" which I happen to be reading right now. The keyword here is CONTEXT! So what is context? Well...it can be seen as capacity...like a capacity of a jug...(I should really draw the diagram here) Think about this...can a jug hold 30litres of water if it's capacity is 10litres? NO! So the only way we can improve beyond our current limitations is to grow our capacity, by expanding the jug. And the way we can do that is by getting inspired by hearing success stories, by reading, by opening our mind to new possibilities, by defining new realities for ourselves. And that's a really important step for me to take now. To stop telling myself I can't...that I'm unattractive...I can't be that successful in making the money I want...I can't be romantic...and accept that I CAN!
The other source is on deliberate effort. It expounds the fact that most "geniuses" actually spend alot more time and directed and planned effort in improving themselves in their field than what is widely recognised when they become successful. And that is an attempt at improving content, or the volume of the water in the jug. But I think it really starts with expanding the jug and then the topping up of the volume(or know-how) comes in later. I lost the link...but I'll try to put it up later.
Sunday 18 March 2007
M'sian trip = Confidence building?
My apologies for not having blogged for quite some time. For the past 4 days I was actually in Malaysia, and it was a trip full of eating really good food...I'm sure some of you guys know M'sian food is the best...haha...anyway, the "highlight," or at least one of the highlights, was that my family and I went for some professional photo-taking! I think one could call it a makeover...but it was quite cool...my sis got her own album and I've got a few shots to call my own...
And I realised (I hope this doesn't sound narcissistic) that I can actually look acceptable, if not good. It probably was because the photographer's superb...and also due to my image consultant(who happens to be my cousin) gave me the right clothes...but the fact is...I don't have to remain the way I look and feel about myself...
Now, talk about freedom! The choice to look either normal or good...and while it may cost some money and time to choose the latter, at least now it is slightly more achievable...Despite this nice "dream-come-true" I'll still need to spend lotsa time nurturing my confidence...
I came back yesterday to watch my first TV prog for a nearly a week...and that was the charity show for Ren Ci Hospital...well...my heartiest congrats to them for making a fundraising show less life-threatening...I could never quite understand why the artistes have to risk their lives to get funds in exchange. I'm really glad that they hit their target because I've been to Ren Ci and I'm sure the patients need all the help they can get...but here's an appeal...they need MORE than funds...
Although I was very moved and inspired to go back regularly after my first visit...I never made the commitment to do so...and for that I feel pretty bad...like we always hear and maybe say as well...and here's to Morrie's words(for those who read Tuesday's with Morrie)...very often a simple gesture of touching and massaging the patients' hands mean a lot more to them...it could signify acceptance, love, comfort, care...sometimes all they need is someone to show them they matter...And I think I found another type of fund my income should flow into...and I'm deciding how I can set aside a bit to give back to those who need it more than me...although ultimately I hope I'll take the time to give more than just a few dollars...
Ohya...just one last lesson...I've been on Kiyosaki's Retire Young Retire Rich...and I was, once again, reminded that my job as an investor is to manage risks...and my most immediate response to think of "not trading against the major trend" in my attempt to conquer forex...so for now...it'll be no more trading short when the trend's up and vice versa...
And I realised (I hope this doesn't sound narcissistic) that I can actually look acceptable, if not good. It probably was because the photographer's superb...and also due to my image consultant(who happens to be my cousin) gave me the right clothes...but the fact is...I don't have to remain the way I look and feel about myself...
Now, talk about freedom! The choice to look either normal or good...and while it may cost some money and time to choose the latter, at least now it is slightly more achievable...Despite this nice "dream-come-true" I'll still need to spend lotsa time nurturing my confidence...
I came back yesterday to watch my first TV prog for a nearly a week...and that was the charity show for Ren Ci Hospital...well...my heartiest congrats to them for making a fundraising show less life-threatening...I could never quite understand why the artistes have to risk their lives to get funds in exchange. I'm really glad that they hit their target because I've been to Ren Ci and I'm sure the patients need all the help they can get...but here's an appeal...they need MORE than funds...
Although I was very moved and inspired to go back regularly after my first visit...I never made the commitment to do so...and for that I feel pretty bad...like we always hear and maybe say as well...and here's to Morrie's words(for those who read Tuesday's with Morrie)...very often a simple gesture of touching and massaging the patients' hands mean a lot more to them...it could signify acceptance, love, comfort, care...sometimes all they need is someone to show them they matter...And I think I found another type of fund my income should flow into...and I'm deciding how I can set aside a bit to give back to those who need it more than me...although ultimately I hope I'll take the time to give more than just a few dollars...
Ohya...just one last lesson...I've been on Kiyosaki's Retire Young Retire Rich...and I was, once again, reminded that my job as an investor is to manage risks...and my most immediate response to think of "not trading against the major trend" in my attempt to conquer forex...so for now...it'll be no more trading short when the trend's up and vice versa...
Monday 12 March 2007
Revival...
Of my habit to read. Well, there has never been a total break from reading for me. But for the past few weeks after ending Deepak Chopra's "SynchroDestiny," I found myself quite lost as to what books to pick up.
But well, thanks to Shirin (if she ever reads this blog I hope she's happy I thank her here), a colleague of mine, I managed to read "Rich Woman" authored by Kim Kiyosaki, Robert's wife and investment partner.
And if you were to ask me to value the book...I believe it will offer very interesting perspectives(esp to woman, duh) on top of Rich Dad Poor Dad...in fact...RDPD is a pretty boring book...other than the small sections when Robert describes his life story and does some general story telling...otherwise it's kinda monotonous...But RW seems to be very lively...and I found a general approach to drawing up an investment plan...And for that section, it definitely is worth reading. In fact, I'm gonna read it once thru again and write out my own plan...
Now, who knows I'm attached? Haha...well I am, and happily so for nearly 4 years. Something my gf gave me nearly a year back, a set of MPH vouchers, actually led to me getting "Retire Youn Retire Rich" today. And I never quite thought of getting that book...in fact, I've never seen it on the shelves anywhere before.
But the coincidence of the moment prompts me to buy and consume the knowledge in the book in all earnestness. And I shall report if I find anything interesting.
For now, my job appears stable and simple and I have my dream of getting a customer service position fulfiled!
But well, thanks to Shirin (if she ever reads this blog I hope she's happy I thank her here), a colleague of mine, I managed to read "Rich Woman" authored by Kim Kiyosaki, Robert's wife and investment partner.
And if you were to ask me to value the book...I believe it will offer very interesting perspectives(esp to woman, duh) on top of Rich Dad Poor Dad...in fact...RDPD is a pretty boring book...other than the small sections when Robert describes his life story and does some general story telling...otherwise it's kinda monotonous...But RW seems to be very lively...and I found a general approach to drawing up an investment plan...And for that section, it definitely is worth reading. In fact, I'm gonna read it once thru again and write out my own plan...
Now, who knows I'm attached? Haha...well I am, and happily so for nearly 4 years. Something my gf gave me nearly a year back, a set of MPH vouchers, actually led to me getting "Retire Youn Retire Rich" today. And I never quite thought of getting that book...in fact, I've never seen it on the shelves anywhere before.
But the coincidence of the moment prompts me to buy and consume the knowledge in the book in all earnestness. And I shall report if I find anything interesting.
For now, my job appears stable and simple and I have my dream of getting a customer service position fulfiled!
Sunday 11 March 2007
Rethinking in Process...
Rethink about what? Is there such a word in the dictionary at all?
Well, before I answer that...let me just say that I had much fun working at the roadshow. The best times were still when I could advise in the best interests of my clients though. Was assigned to distribute vouchers that were given as premiums for the roadshow. That kinda sucked but it still beats an office job! Haha...was sick on the first day anyway...pretty feverish...and I had to rely on panadol...whenever the effect of the dosage went off...the jitters came back and I even shivered at some points in time...but well, saturday came and somehow I recovered...I wonder y and how...but well...it's just gd I don't feel so bad anymore...
And what am I led to rethink? Today I had a tuition session with my nj student...and btw...I give tuition for economics H1 and H2 yeah...haha...that's some advertising...but doubt it'll get me anywhere...and I didn't even realise it was post-exams and the start of hols! which caused the mood to be generally quite relaxed and we had some small talk...
The most impt part is that my student actually lived and proved the "fix your mind on your objective and you'll reach it" formula...and she went on to describe some of her goals like looking better, learning how to dance, getting her As etc...the one about "looking gd" caught my attention...now, I've always prided(I dunno if that shld be the word to use, at least I didn't quite bother about my looks) on being simple and didn't give 2 hoots abt my appearance...my student wants fame...that's not my goal...but I wonder...shldn't I try to look better and presentable? At least some guy who can catch someone's attention(not in a negative light though)? And I think it is not that I can't...the phrase "there are no ugly ladies, just lazy ones" apply v much to their male counterparts as well...
Am I doing myself a disservice by staying the way I am? Am I still stuck in the cycle of self-defeating activity? Am I still killing my own self-esteem?
I need answers...but it has to come from within...I hope they surface soon...and mayb the next time you see me again...I might just look a little different!
Well, before I answer that...let me just say that I had much fun working at the roadshow. The best times were still when I could advise in the best interests of my clients though. Was assigned to distribute vouchers that were given as premiums for the roadshow. That kinda sucked but it still beats an office job! Haha...was sick on the first day anyway...pretty feverish...and I had to rely on panadol...whenever the effect of the dosage went off...the jitters came back and I even shivered at some points in time...but well, saturday came and somehow I recovered...I wonder y and how...but well...it's just gd I don't feel so bad anymore...
And what am I led to rethink? Today I had a tuition session with my nj student...and btw...I give tuition for economics H1 and H2 yeah...haha...that's some advertising...but doubt it'll get me anywhere...and I didn't even realise it was post-exams and the start of hols! which caused the mood to be generally quite relaxed and we had some small talk...
The most impt part is that my student actually lived and proved the "fix your mind on your objective and you'll reach it" formula...and she went on to describe some of her goals like looking better, learning how to dance, getting her As etc...the one about "looking gd" caught my attention...now, I've always prided(I dunno if that shld be the word to use, at least I didn't quite bother about my looks) on being simple and didn't give 2 hoots abt my appearance...my student wants fame...that's not my goal...but I wonder...shldn't I try to look better and presentable? At least some guy who can catch someone's attention(not in a negative light though)? And I think it is not that I can't...the phrase "there are no ugly ladies, just lazy ones" apply v much to their male counterparts as well...
Am I doing myself a disservice by staying the way I am? Am I still stuck in the cycle of self-defeating activity? Am I still killing my own self-esteem?
I need answers...but it has to come from within...I hope they surface soon...and mayb the next time you see me again...I might just look a little different!
Thursday 8 March 2007
New job...
Well, today, in an interesting twist of event, I was internally rehired by a team which shared the same office as my current team. So without a break to my contract, and a good chance that I can retain this position till the time I quit to prepare for uni come late July, which is a good thing. Of course, I have my doubts as this job might potentially be as, or more, boring as compared to my current duties.
But the fixed 1.1k coming in a month with fixed schedules (and that's not calculating OTs) and no weekends is very impt to me. I don't know if I mentioned this before...but my tuition students come first, because they will be foreseeably my lifeline during my uni days.
So while I would like something less deskbound, I'll keep at this job for the next few months. And continue investing and searching for good investments. As for my forex involvement is a long trade made earlier in the day at 1.9313, losing 30 pips. I expect the trend to heard north, but it seems not very confirmed at this point in time. There's a temptation in me to not put a SL for tonight and see how things goes early tmr morning. And I'll be taking that risk. So free fall it will be, if it trends the opposite.
Next 2 days at IT roadshow...will be busy...earning to get money into investments.
Ohya...btw...I'm read a woman's guide to getting rich...authored by Kiyosaki's wife, Kim. Looks a little gay carrying the book ard but it's actually more interesting the rich dad poor dad itself. Will report back! And I sure hope all our dear ladies can be increasingly financially and emotionally independent by making their own keep.
But the fixed 1.1k coming in a month with fixed schedules (and that's not calculating OTs) and no weekends is very impt to me. I don't know if I mentioned this before...but my tuition students come first, because they will be foreseeably my lifeline during my uni days.
So while I would like something less deskbound, I'll keep at this job for the next few months. And continue investing and searching for good investments. As for my forex involvement is a long trade made earlier in the day at 1.9313, losing 30 pips. I expect the trend to heard north, but it seems not very confirmed at this point in time. There's a temptation in me to not put a SL for tonight and see how things goes early tmr morning. And I'll be taking that risk. So free fall it will be, if it trends the opposite.
Next 2 days at IT roadshow...will be busy...earning to get money into investments.
Ohya...btw...I'm read a woman's guide to getting rich...authored by Kiyosaki's wife, Kim. Looks a little gay carrying the book ard but it's actually more interesting the rich dad poor dad itself. Will report back! And I sure hope all our dear ladies can be increasingly financially and emotionally independent by making their own keep.
Wednesday 7 March 2007
Trying hard (too hard?)
Well, today I made 4 trades, and as crazy as it sounds, I only traded on the G/U. Today's experiment was quite simple. Since the G/U formed a pretty evident consolidation range from yesterday on, I was able to draw a proper channel to decide on my trades.
So basically I sold when it was high, meaning the pair touches the higher limit of the channel and longed when the pair touches the lower limits. My first experiment didn't leave me very logical and my SL was -40pips and TP was 20pips only...Has anyone heard of a risk reward ration of 2:1?? Haha...
Anyway I learnt my lesson and my 2 other trades were strictly SL of -20pips and TP of about 40pips. Well, to cut the long story short, one ended up in full victory while the latter was stopped out, but I didn't lose anything since I had the chance to move my SL to breakeven.
The trade, last to be mentioned, but was the first one executed was a short in the middle of nowhere along the channel. Well, that decision was made because I believed there was still downside potential for the G/U, after all, the retracement of the overall rise since ages ago is minimal. But, well, I gave that up...believing I had no basis to believe the downtrend would continue.
Overall, I think I made neither gain nor loss, since I gained 40 pips off 1 trade and lost 20 off each of the other 2. The gain was more of the experience gained and getting to know that the channel actually works...albeit it requires time to form the highs and lows and establish its limits.
I'm wanted to test the method of playing with news (USD nonfarm employment change is coming out at 9.15pm Singapore time) Clarence mentioned (but definitely didn't encourage). But i think I had enough trades for the day.
So here's to each and every trader's dream - to live comfortably on trading.
So basically I sold when it was high, meaning the pair touches the higher limit of the channel and longed when the pair touches the lower limits. My first experiment didn't leave me very logical and my SL was -40pips and TP was 20pips only...Has anyone heard of a risk reward ration of 2:1?? Haha...
Anyway I learnt my lesson and my 2 other trades were strictly SL of -20pips and TP of about 40pips. Well, to cut the long story short, one ended up in full victory while the latter was stopped out, but I didn't lose anything since I had the chance to move my SL to breakeven.
The trade, last to be mentioned, but was the first one executed was a short in the middle of nowhere along the channel. Well, that decision was made because I believed there was still downside potential for the G/U, after all, the retracement of the overall rise since ages ago is minimal. But, well, I gave that up...believing I had no basis to believe the downtrend would continue.
Overall, I think I made neither gain nor loss, since I gained 40 pips off 1 trade and lost 20 off each of the other 2. The gain was more of the experience gained and getting to know that the channel actually works...albeit it requires time to form the highs and lows and establish its limits.
I'm wanted to test the method of playing with news (USD nonfarm employment change is coming out at 9.15pm Singapore time) Clarence mentioned (but definitely didn't encourage). But i think I had enough trades for the day.
So here's to each and every trader's dream - to live comfortably on trading.
Tuesday 6 March 2007
Pursuit of Happiness
Anyone watched the movie? The "pursuit of happiness"? Or should I spell it as "happyness"? Haha...with a dash of humour in this pretty heartwarming film, this show won't stand a chance in Oscars for anything other than its underlying philosophy and humanity.
And when it comes to the approach of direction, it really wasn't meant to be a tearjerker, not even meant to induce wet eyes. Well, at least that was how I felt, and given the title and its trailers, I really felt disappointed I wasn't quite moved by what the main character, played by Will Smith, went thru to get to his "happyness" of becoming a stock broker and later a illustrious founder of a huge asset management company.
But the quietness and seeming low impact of the movie is actually very important, on reflection. It is in such conditions that I begin to see, as I write, that the movie was crafted to allow people space to think and reflect rather than react with feelings of momental sadness, pity, hope or inspiration.
And won't you say, my dear readers, that is precisely the problem with media? Being constantly bombarded and influenced? And that we react with emotions of all forms. Not being religious here, but what if we could be above our reactions? Would that help in our own pursuit of happyness?
For now I am contented to know that the Declaration of Independence of the United States said everyone has the right to their pursuit of happiness. Note that it never said everyone had the right to happiness as an end itself, but that doesn't mean we shouldn't strive in our own small little ways, right?
And when it comes to the approach of direction, it really wasn't meant to be a tearjerker, not even meant to induce wet eyes. Well, at least that was how I felt, and given the title and its trailers, I really felt disappointed I wasn't quite moved by what the main character, played by Will Smith, went thru to get to his "happyness" of becoming a stock broker and later a illustrious founder of a huge asset management company.
But the quietness and seeming low impact of the movie is actually very important, on reflection. It is in such conditions that I begin to see, as I write, that the movie was crafted to allow people space to think and reflect rather than react with feelings of momental sadness, pity, hope or inspiration.
And won't you say, my dear readers, that is precisely the problem with media? Being constantly bombarded and influenced? And that we react with emotions of all forms. Not being religious here, but what if we could be above our reactions? Would that help in our own pursuit of happyness?
For now I am contented to know that the Declaration of Independence of the United States said everyone has the right to their pursuit of happiness. Note that it never said everyone had the right to happiness as an end itself, but that doesn't mean we shouldn't strive in our own small little ways, right?
Monday 5 March 2007
A quick update
Just a very short one to share with you guys that my trade of G/U was stopped out at 1.9300, gaining 140 pips, some 140% gain on the capital.
And I am beginning to appreciate stop loss levels...but I was stopped out due to a spike that went up to 1.9304, and that is pretty sad. In any case, the consolidation range seem to be quite apparent, or at least will be so by the end of today.
Stop loss...the thing is, no matter how gd one is at spotting reversals and trends, there are and will be times when the market moves unexpectedly. In such a situation, a stop loss saves one...but one can't used a stop loss properly without the knowledge of how to spot reversal points...otherwise the stop loss will just take him out prematurely, just before the actually action which was expected.
Been reading abit here and there...and probably will be focusing on Grace Cheng's blog in due time to see what insight she can offer. Another task (and reminder to myself) is to send my mentor the charts I drew to see if he has any comments for me.
And I am beginning to appreciate stop loss levels...but I was stopped out due to a spike that went up to 1.9304, and that is pretty sad. In any case, the consolidation range seem to be quite apparent, or at least will be so by the end of today.
Stop loss...the thing is, no matter how gd one is at spotting reversals and trends, there are and will be times when the market moves unexpectedly. In such a situation, a stop loss saves one...but one can't used a stop loss properly without the knowledge of how to spot reversal points...otherwise the stop loss will just take him out prematurely, just before the actually action which was expected.
Been reading abit here and there...and probably will be focusing on Grace Cheng's blog in due time to see what insight she can offer. Another task (and reminder to myself) is to send my mentor the charts I drew to see if he has any comments for me.
A winning (and learning) trade
Right, here I am typing away on my second attempt to post this entry. I can't believe my first post, which I think was quite long, was deleted just by one single wrong and careless click of my mouse.
Basically I shorted the G/U at 1.9446, which subsequently went down to a low of 1.9182. I didn't close the position then as I felt that there was still downside pressures, so I adjusted my stop loss to 1.9300(which means if I get stopped out, I still have a profit of 140pips), and target set at 1.9000.
So that looks like a pretty good trade, but, truth is, it leaves me more questions and a more intensive search for answers. Queries like "how should I decide my SL and TP levels?", "could this downtrend with trong momentum turn around suddenly and shoot equally fast up to the previous levels of 1.95xx/1.96xx?" And given so many indicators and moving averages and horizontal price lines, and channels all over the chart, how do I figure out some sense out of what looks like a mess?
Well, so there it is, I gain, and I am left with more ground to cover. But I shall strive, and someday I shall trade properly, profitably and gain boundlessly from Forex. A word of gratitude to my mentor, and all who helped, is helping and will help me along this route. And a toast to you guys out there who are treading the same path as I, to trade successfully to avoid the rigours of the rat race. May we all trade well with conviction!
Basically I shorted the G/U at 1.9446, which subsequently went down to a low of 1.9182. I didn't close the position then as I felt that there was still downside pressures, so I adjusted my stop loss to 1.9300(which means if I get stopped out, I still have a profit of 140pips), and target set at 1.9000.
So that looks like a pretty good trade, but, truth is, it leaves me more questions and a more intensive search for answers. Queries like "how should I decide my SL and TP levels?", "could this downtrend with trong momentum turn around suddenly and shoot equally fast up to the previous levels of 1.95xx/1.96xx?" And given so many indicators and moving averages and horizontal price lines, and channels all over the chart, how do I figure out some sense out of what looks like a mess?
Well, so there it is, I gain, and I am left with more ground to cover. But I shall strive, and someday I shall trade properly, profitably and gain boundlessly from Forex. A word of gratitude to my mentor, and all who helped, is helping and will help me along this route. And a toast to you guys out there who are treading the same path as I, to trade successfully to avoid the rigours of the rat race. May we all trade well with conviction!
Saturday 3 March 2007
Mentoring...at last...
Well, who would expect my "desire" to find a mentor in forex and money making could actually translate into "reality"?
Haha...the very least, now I've someone to turn to in the event I need help in trading and furthering my understanding of how to use indicators and to spot trends in the market. In the coming weeks, I can expect to start experimenting with a system to decide my trades. And, doubtlessly, I would speak of my progress here and hopefully everyone can learn together. (And that's no one way traffic, remember to share with me your experiences guys!)
The day before I met my mentor, Clarence, I actually had a small meeting with Firman and Eusof, my 2 trading partners. Thanks for the chance to share whatever tiny bit of econs knowledge I have with you guys! Ever heard that you learn most when you teach? Haha, given my tutoring experiences and the various meetings when I could transmit my knowledge in whichever field, I realised that teaching consolidates one's knowledge and maybe make it more applicable as well.
For example, I used to study market structures in my JC days. And the info came to life when I passed it on to some of my friends who intend to go into stocks and maybe start a company. One more is the knowledge of channels and consolidation and the general patterns in the forex charts, and it really made me think about how to present the knowledge and make it applicable to trading. And wala! I think with the help (and more help in future) from Clarence, I should be able to really spot trends proper and trade based on such judgement.
But...haha...nothing is sweet in the beginning, and as I tried to draw the trend lines and stuff on the G/U graph (that's called doing homework, no weekend hols for traders), I realised I really am at a lost as to how to do it...
Well, never mind, I will just draw whatever I can and send it to Clarence and request him to see if I am doing it right...haha...so long...learn with me guys!
Just one last point, I was told that news do not affect the major trend of the currency pairs, but only delays the time it takes for the target to be reached due to swings caused by the news. And that it is not really impt to a swing trader, and actually, what Firman, Eusof and I have been doing so far seems to be more swing than intraday...
Ok, that's it for now...See you guys soon! (And to the guys I've met at the forex session, may we do our trading and profit in many ways!)
Haha...the very least, now I've someone to turn to in the event I need help in trading and furthering my understanding of how to use indicators and to spot trends in the market. In the coming weeks, I can expect to start experimenting with a system to decide my trades. And, doubtlessly, I would speak of my progress here and hopefully everyone can learn together. (And that's no one way traffic, remember to share with me your experiences guys!)
The day before I met my mentor, Clarence, I actually had a small meeting with Firman and Eusof, my 2 trading partners. Thanks for the chance to share whatever tiny bit of econs knowledge I have with you guys! Ever heard that you learn most when you teach? Haha, given my tutoring experiences and the various meetings when I could transmit my knowledge in whichever field, I realised that teaching consolidates one's knowledge and maybe make it more applicable as well.
For example, I used to study market structures in my JC days. And the info came to life when I passed it on to some of my friends who intend to go into stocks and maybe start a company. One more is the knowledge of channels and consolidation and the general patterns in the forex charts, and it really made me think about how to present the knowledge and make it applicable to trading. And wala! I think with the help (and more help in future) from Clarence, I should be able to really spot trends proper and trade based on such judgement.
But...haha...nothing is sweet in the beginning, and as I tried to draw the trend lines and stuff on the G/U graph (that's called doing homework, no weekend hols for traders), I realised I really am at a lost as to how to do it...
Well, never mind, I will just draw whatever I can and send it to Clarence and request him to see if I am doing it right...haha...so long...learn with me guys!
Just one last point, I was told that news do not affect the major trend of the currency pairs, but only delays the time it takes for the target to be reached due to swings caused by the news. And that it is not really impt to a swing trader, and actually, what Firman, Eusof and I have been doing so far seems to be more swing than intraday...
Ok, that's it for now...See you guys soon! (And to the guys I've met at the forex session, may we do our trading and profit in many ways!)
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