Monday, 15 June 2009

Straits Times Index

STI has made a spectacular run since 10 March for a good solid 3 months and magically, it has crossed the neckline at 1941 and hit the double bottom target of around 2427. A correction would be healthy for the index at this juncture. The first target for this correction should be around 2220. A break of 2,200 support will mean a more severe correction to around 2050.

Friday, 12 June 2009

It has been a long time!

It has been a long time since i last updated this blog. No excuses but i just couldnt find the energy and motivation to update it being busy with work, with my life and with my kids.

I have always been thinking of how to retire early since i was young. When i was in my teens, i was always on the look out for quick bucks. How to make fast money but to be honest, it is easy to get burnt when you want 'fast money' and i for one, have been burnt. Luckily, it occured while i am still young, and i have nothing much to lose. There is no such thing as "fast and safe" money unless you know how to "print" money which is what the US government is doing now - printing money to spend its way out of the recession. It is amazing that the US/SGD is still not 1 to 1 now.

It is important to have a dream because it keeps you going. I have always been 'dreaming' of travelling round the world. I am still far from it but i am working towards it (both the financial freedom and the travel-round-the-world part) hahaha and trust me, i dont "scrimp and stinge" to work towards this dream. I personally think that to live a life of a miser just to be rich is so miserable and this is not the life i want to lead.

I have spend many months thinking how i can retire early. For sure, to retire early, i will need some passive income. Passive income means that whether you work or dont work, you get the money. I realised that i have been very lacking in that regard, i.e. to create a portfolio of stocks that can give me a passive income. Since this website is entitled "the inspiration for financial freedom", i better inspire myself first. hahaha.

I will update more again in another date, now need to be driver for my kid's CCA during holidays.... I better be more 'on-the-ball' in updating this blog. :) TTYL.

Tuesday, 17 February 2009

Take care!

I realised how "untimely" my blog is. Since my last update, i have to cut loss on Raffles Education :( and also took a small profit in Midas. In addition, i have shorted Cosco at 86 and Noble at 120 on Monday.

The Straits Times Index looked really ugly to me and i believe it will retest the 1,500 levels in the coming days. Take care and if you are still a "long-only" investors, you may want to learn how to long "STI put warrants" to protect your stock portfolio.

Sunday, 8 February 2009

S Chips going to run?

I have this feeling that the FT China index looks set to run. While i have not loaded up on S-Chips, i have bought into 2 "proxy" S Chips, Midas and Raffles Education. Let's see on it will perform in the coming days.

Saturday, 31 January 2009

Time to Start Trading...

Time to pick up trading again... I made a 2009 resolution to start trading after CNY. There were several reasons why I didnt trade for the last 3 months but I won't share them here since they are quite personal. My target is to make $20,000 for 2009 for this trading account which i am managing below and that will represent a 20% return on the $80,000 equity. The account below is purely a CFD trading account which i manage for a friend.

I made the first trade on Noble 29 Jan 2009 and closed off the position on 30 Jan 2009 and made a small profit of $500. Lets hope it is a good start for the year of the Ox. The current equity balance is $80,642.75. By sharing my equity curve online, i hope i can be 'less lazy' and more hardworking!!! hahaha.

My personal profit target for the entire year till 31 Dec 2009 is $50,000 (all my accounts combined). Let's see if that is achievable for a part time trader like me who sometimes have to suffer from poor IT infrastructure in office.

Wish everyone have a good Ox year ahead.

Watch the property market closely. Maybe can start looking again in the 2nd half of 2009.

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