B(l)ack

I will be writing under a new blog in future:

Insipid Investor

As it will totally be unrelated to forex, I decide to give a new name, for pure leisure writing.

Miss those days!

Poker vs Trading

Interesting article about poker and trading statistic here.

Jack of all Trades, or Master of One?

I use Grammarly's plagiarism checker because I like to know the fact that I'm unique, no one is trying to be me, and it improves my writing for my readers' readability.

After last year's trading here and there, I have stopped forex trading for quite a long while. Partly due to the reason that I have busted my account, and my wedding proposal in April which added a doggy into our family (proposal gift for my wife), and then my 12 hrs job, which leads 12 hrs in a day working, 6 hrs sleep, 3 hrs taking care of the dog, and the remaining to job hunting. I can't explain how much I'm dying to leave the first trading firm.

my dog.

Finally after so much interviews, I landed into another trading firm, where people there appreciates work-life balance, and great opportunity to learn. And my wedding preparation began then, for my big day in mid-December. Blink of eye, I'm a married man. Our house key collection date was 31-December-2013, and now we're busy with the renovations and stuff.

 pic from HDB wiki.

In my country, many couples apply for a HDB flat first before the guy's proposal, which leads to women in my country complaining we're unromantic. (Because applying a flat together means both must be married by key collection date!) I admit the fact though, but what to do, we have to wait about 4 years for the flat to be ready after the application. By the time men in my country serve 2 years of national service (military) and then join the work forces, and by the time we save enough money to propose and then apply a flat, we would be 30+ by the time when the flat is ready.

 pic from mothership.sg

Even for my case, after my wedding and renovation, my savings will be *WHAM*.. back to ZERO. Property here costs about $300K SGD, for a 4-room flat 92sqm. Don't tell me about how much your country's property cost to make me feel depressed, don't tell me about how much your country's vehicle cost to make me feel upset. My wife and I planned for a very very basic renovation because we're hoping not to borrow renovation loan, and all in all still costs nearly $30K including furnitures, HMmmm.. where do we find the money...

So we gamble.

Two new casinos here in Singapore? No, I don't got the balls and capital to pay $100 levy for every entry. If they are so restrictive about local going to casino, they should do like South Korea do, ban the locals from going in COMPLETELY! I believe there are so much trouble brought to us than the economic benefits the casino has brought to us.

I gamble with them in another way, though. I bought Genting SP shares last year, I held for a year before selling them. Gaining about 10% of my capital invested in it. I have to say I am a lucky ass because the share plummeted right after my exit.

Yes, I have stopped forex but trading shares instead because of time commitment. Trading requires time to monitor but investing in shares does not require that much of a screen time. The time I used to use for screen time now becomes daily dog-walking routine haha. It is my responsibility but it really brings joy to the home.

I recently applied for an IPO and balloted two lot of shares for OUE Comm REIT. Not going anywhere but holding for long-term.

My latest paper win now is Suntec REIT (Real Estate Investment Trust).. currently up about 7.8% profit.

I have stopped forex due to time commitment but my appetite to gain financial freedom do not stop. I am not closing my forex account and just looking for good opportunity for a come-back, after my home renovation. And probably starting my own business after that. A come-back like in poker, which I now takes it casually. But do we still need to do all these if we're earning quite adequately in our full time job, like many of my friends do?

Great run this afternoon though.

To be a jack of all trades, or a master of one?

Black.

PokerStars - Raise Money for the Philippines Typhoon Relief Fund

I'm sure most of you have read the news of the devastating typhoon that hits Philippines. We may not be able to help them personally there, but your funds and donation will contribute to their shelter, clothing, food etc.

PokerStars will match total amount raised when you donate thru' PokerStars client. << click here

..a little contribution from my sis and I.

Else, you may contribute directly here.

Please help.

Thank you!

Black.

Just another post to remind myself

Not sure if its just me or it happen to everyone else...

Ok this is a story of the difference between what i want, what i expect and what will actually happen. Or rather, a little true story of greed and fear.

I believe most of us would have read stuff like having a system, or a set of rules to follow strictly to, be it online or books we grab off bookstore shelves... Yes, im just like the majority of self learning traders-wannabe out there.. i came out with a system that (i hope) suits to my style of trading.

Imma skip the part whereby we came up with that signal entry and exit thing. We all have our own different way of entry and exits. What im actually want to talk about... is the part where we set the stoploss and take profit level.

So generally, we all have a certain percentage of our account that we are willing to lose and also... not to mention, the best part.. the part where we plan how much we can rip from this trade. That is the profit part.
Ideally, profit should be bigger than the loss. We read stuff like 1:2 or at least a 1:1.5.. worst to worst... 1:1.. right? Well logically thinking, we wouldnt want to have our risk of loss higher than that of profit. Very safe i would say. Because that is what i am doing.

So there we are, entering a trade when the entry signal came, we try to set the parameters for SL and TP.

Subconsciously, i will have in mind where i want my TP to be... We all know that our system will give us an exit, like the last peak? Or at one of the major resistance level? But what if these level doesnt rip u the amount of pips you want? It could be like 10pips away to your ideal ratio of 1:2... Greed perhaps.. i will sometimes set my TP at the level where I WANT.. L O L... As im typing now, i know it is stupid... but in the midst of making that decision during trading... Emotions come in.

So well sometime my greed pays off.. but usually, there isnt any good ending.. HA HA

Not only did greed affects my decision. sometimes fear also makes me set my TP at safe level. So the ending is of cause, wasteful. I will waste a chunk of the profit due to my bad decision to be safe and not go for more. Amateur mistakes.

As for SL, discipline and past bad experience tells me that i should just set it at a point where its the amount of loss that im willing to risk. Simple as that.

Fortunately, that was the past me.. It seldom happen now. Occasionally i still have the itch to.. you know, get back to old self.

If you did what i did, and still doing what i did... You are not alone............ I know that feel bro. Keep resisting the temptation yea?

"This is John Connor. If you are listening to this,you are the RESISTANCE."


Regards,
Bottle