"There are two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle" - Albert Einstein
Have been rather busy lately helping to set up an organisation, "Association of Financial and Commodity Traders" (AFACT), objective is to have a common goal of representing the interests of the members basically from the financial trading communities.
The 12 committee members including myself put in plenty of hard work, meetings, bargaining for benefits from SGX, planning social activities and rolling out mentor and educational programmes for the members. It's really a thankless job and I wish to emphasize that the committee members are not paid for taking time away from their trading and burning some weekends.
I would like to say a big thank you to my younger brother, Alastiar (AIM) who has put in tremendous amount of time in helping out with the creation of the website despite his busy schedule.
The committee members are happy and are prepared to sacrifice their time to work for the benefits of the trading communities. The biggest obstacle is funding and of course members need to pay to join the Association for the cost of running it, that's where the unhappiness and scepticism arises especially from traders who feels they do not benefit from joining.
"Whatever you do is none of my business, don't get me involve", sounds familiar, for those who feels they don't gain anything from joining and "why should they contribute?"
"We do not see things as they are; we see things as we are" - Talmud
We have to thank SGX for the support and seed capital to set up the Association. SGX has also send their staffs to help us in the planning and organising for the launching of AFACT. Besides that, after some tough negotiation, SGX has agreed to the scratch trade rebates for the Nikkei and Taiwan contracts for a minimum of 2 months without condition and monthly review after that. At least we get something from the goodwill with SGX.
I am glad the majority of traders are generous with their words of encouragement and appreciative of the hard work put in by the committee members. The world will be a much better place to live in with more of these gracious people around.
"The only ones among you will be really happy are those who will have sought and found how to serve" - Albert Schweitzer
We are still building the website at http://www.afact.org.sg/
More traders are feeling the heat as volume keep sliding with smaller trading range, many complained that trading is tough. So, when is trading not tough? It's just a market cycle, in order to survive, traders need to adapt to the ever changing environment.
Profit to date is S$11,218.00 with 1 long Topix/Nikkei spread position. Still very cautious with taking more risky trade.