"If you do not know where you are going, you will wind up somewhere you never wanted to be" - Alexander Elder
At a young age, our parents sent us to school for the purpose of learning and acquiring knowledge that is required for a better life in future. Parents and teachers taught us the basic to prepare and lead us to where we are going, the rest depend on ourselves to plan and work towards our objective.
Many know where they wanted to go but most are not prepared for the journey that might not be as smooth sailing as they would have expected. A storm can simply wreck their dreams.
Profit to date for the new financial year starting April 2009 is S$5,551.00. I have spoken again to Robert regarding Account 1 where there is no trading for more than a month, no doubt, I am a little disappointed even though we have not lose money. I will decide by June what to do with this account.
Saturday, April 25, 2009
Saturday, April 18, 2009
Updates
"Live long enough and you will eventually be wrong about everything" - Russell Baker
Liquidated all open position with a profit of S$1,769.00, could have done better but was caught on the wrong side with our initial entry. I am now planning my trades every morning and have learnt to use to Pat's system automated trading platform for our entry and exit. It save me a lot of headache in the efficient execution of trades.
Money management is among the most important element in the success of a trading account. One of the reasons I have been able to perform consistently over the last few months for our trading account 2 is the employment of sound money management. Going for higher return this financial year would definitely involves higher risk, no doubt about it.
Liquidated all open position with a profit of S$1,769.00, could have done better but was caught on the wrong side with our initial entry. I am now planning my trades every morning and have learnt to use to Pat's system automated trading platform for our entry and exit. It save me a lot of headache in the efficient execution of trades.
Money management is among the most important element in the success of a trading account. One of the reasons I have been able to perform consistently over the last few months for our trading account 2 is the employment of sound money management. Going for higher return this financial year would definitely involves higher risk, no doubt about it.
Sunday, April 12, 2009
Updates
"Markets are never wrong, but opinions often are. I only try to react to what the market is telling me by it's behaviour. --- Jesse Livermore
Reduced position to long 2 Tpx/Nikkei spread, not much changes to the account.
The world market surged last week, unfortunately we did not capitalise on it, what a waste.
My nose is still giving me much problem 2 months after the operation. The doctor found it strange and gave me antibiotic to counter the bug, hope to recover soon.
Reduced position to long 2 Tpx/Nikkei spread, not much changes to the account.
The world market surged last week, unfortunately we did not capitalise on it, what a waste.
My nose is still giving me much problem 2 months after the operation. The doctor found it strange and gave me antibiotic to counter the bug, hope to recover soon.
Saturday, April 4, 2009
Updates
"Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength" - Arnold Schwarzenegger
I have long 3 Topix/Nikkei spread position with paper losses of S$1,485 for the New Financial Year starting April 2009.
The margin required for the Topix/Nikkei spread is quite high and we are incurring interest cost for holding longer term position since we don't have enough Yen in the account. The broker is making good money charging us 4% interest for our Yen debit account whenever we have outstanding open position and not paying a single cent when we have credit in our Yen account.
I will be more adventurous and aggressive in this New Financial Year 2009. My target will be 24% return for account 2 this year and expect a roller coaster ride. I am looking forward to the challenge and hitting this target as soon as possible.
I have long 3 Topix/Nikkei spread position with paper losses of S$1,485 for the New Financial Year starting April 2009.
The margin required for the Topix/Nikkei spread is quite high and we are incurring interest cost for holding longer term position since we don't have enough Yen in the account. The broker is making good money charging us 4% interest for our Yen debit account whenever we have outstanding open position and not paying a single cent when we have credit in our Yen account.
I will be more adventurous and aggressive in this New Financial Year 2009. My target will be 24% return for account 2 this year and expect a roller coaster ride. I am looking forward to the challenge and hitting this target as soon as possible.
Thursday, April 2, 2009
Updates
"I will not allow yesterday's success to lull me into today's complacency, for this is the greatest foundation of failure" - Og Mandino
Our profit for the financial year ending 31st March 2009 is S$17,862.00 for the special account. We started trading since December 2008 and based on our capital of S$450,000.00, our return is 3.97% over 4 months. This is below my expectation. We need to put in conscious effort to trade without affecting our own trading account, that's the most difficult part.
I have spoken to Robert about taking the effort to put in longer term trades. No trading is unacceptable. Being a micro trader, I am quite short sighted to go for long term trades without compromising risk. It will be a learning process for me and the potential paper losses will be higher, it will be quite a challenge.
Looking forward, I hope we can perform better since we have gained some experience in the past few months.
Our profit for the financial year ending 31st March 2009 is S$17,862.00 for the special account. We started trading since December 2008 and based on our capital of S$450,000.00, our return is 3.97% over 4 months. This is below my expectation. We need to put in conscious effort to trade without affecting our own trading account, that's the most difficult part.
I have spoken to Robert about taking the effort to put in longer term trades. No trading is unacceptable. Being a micro trader, I am quite short sighted to go for long term trades without compromising risk. It will be a learning process for me and the potential paper losses will be higher, it will be quite a challenge.
Looking forward, I hope we can perform better since we have gained some experience in the past few months.
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