Tuesday, January 26

Understanding Forex Trading

Understanding Forex Trading

For many people trading seems to be a get rich quick scheme but in actual fact, it very far reality from that.
A lot of understanding and hard work has to be put into this whole thingy called FOREX. I shall attempt to explain some of the basics in forex trading. Or at least my understanding of the whole forex thing.
The following 3 charts

Friday, January 22

When will petrol prices go down?

When will petrol prices go down?

All the mainstream media has been reporting about how low the oil price is and the number of records this pricing has broken. People around the world are saying it is cheaper to buy

Saturday, January 9

Free drink from mcd app

It actually cost $3.20 for this drink.  But thanks to the Mcd app i got it for free!

365 Days Money Savings Plan

365 Days Money Savings Plan (Ducky Challenge)

It wasn't easy bringing up the subject of money to my wife, and for years, we have had many a heated argument or 2 about money. Thankfully, this year we came to an agreement of putting a dollar a day into our ducky bank set up for Chloe.

Friday, January 8

Forex Trading Week 1

Ok here wraps up my forex trading week 1. I should say i am getting the hang of it and consider to have done alright i guess. Started first day initially at 0.01 per pip, i have started to add 0.10 per pip during mid week. Have learnt to always set my TP and SL. The 2 open trades are a stark reminder of what happens when the trade goes completely against my direction and i did not SL. Still holding on to those trades since day one...

Best trade of the week was my spotting of gbp/aud trade where i spotted correctly with the trend and TP at 46 pips. Made a loss with eur/chf of 22 pips, this was an auto SL and was glad i learnt my lesson during first few days of trading as this went the other direction. Otherwise i would be looking a massive loss.

Overall, it was a good week and an exciting one. Next week will be increasing my stakes. Wish me luck and foresight and wisdom... Cheers!

Wednesday, January 6

Forex Trading Day One

Forex Income

Invested an initial USD500 for this. Hopefully it will turn out to be a success, which i am sure it will be. For this week my mentor wanted be to start of small and get the feel of firing trades. So here i am! Firing at USD 0.01 per pip. 

Closed Transactions:
TicketOpen TimeTypeSizeItemPriceS / LT / PClose TimePriceCommissionTaxesPIPSProfit
201382692015.12.22 05:24:14balanceDeposit from FxUnited's wallet500.00
201382702015.12.22 05:24:14balanceDeposit Bonus150.00
202532742016.01.04 09:36:33buy0.01eurcadx1.51820.00001.52122016.01.04 10:06:441.52120.000.00300.21
202757112016.01.05 04:12:14sell0.01euraudx1.50170.00001.49972016.01.05 13:53:481.49970.000.00200.14
202858992016.01.05 12:08:26sell0.01audusdx0.71760.00000.71612016.01.05 14:54:390.71700.000.00150.06
202860832016.01.05 12:11:35sell0.01nzdusdx0.66960.00000.66812016.01.05 17:03:300.66810.000.00150.15
203002562016.01.06 02:44:12sell0.01nzdusdx0.66940.00000.66552016.01.06 03:45:260.66550.000.00390.39
Closed P/L:0.95
Open Trades:
TicketOpen TimeTypeSizeItemPriceS / LT / PPriceCommissionTaxesSwapProfit
202547162016.01.04 10:14:18buy0.01eurusdx1.09280.00001.09511.07600.000.000.00-1.68

Floating P/L:-1.68

Very good learning experience on the first day of trading. Entered into some buy and sell trades following the 3x21 and the D1 method. The auto T/P (take profit) function is cool. You can set the price you wish to close trade and it will auto close on your behalf. As can be seen, i had closed trade at around 20 to 30 pips gain.

What i did not do was to stop loss as can be seen from the pair of eur/usd. The trade totally reversed on me and it has fallen 168 pips against my way. This brings the total gain from previous 5 trades to nothing. I am currently still holding to this trade in hope the euro can pick up. 

So much for my first day of trade...

Monday, January 4

Monthly Savings & Expenses Dec 2015

I have always been tracking my expenses but as i never analysed them, it is as good as not tracking. Therefore since the start of Dec 2015 i chanced upon this lovely app called Monefy and decided to use it as my new tracking tool. I had previously used moneymanager and expensemanager but both not as engaging and user friendly as this one. 

Coming back to expense tracking, i can see that a good chunk of what i spend goes to gifts. Considering that it's Xmas month, i would say it's just a freak month. 
24/12/2015 Eating out -37,43 Menichi ramen
27/12/2015 Eating out -61,6 Dinner at mbs with jiu mu and cousins
30/12/2015 Eating out -9,05 Burger king
31/12/2015 Eating out -30 Steamboat with sokyum shuwen charmaine
31/12/2015 Eating out -48,7 Din tai feng
Close to $200 spent on eating out! Hmm...again...its year end. I can't help it....but definitely an area to cut down in January 2016

19/12/2015 House -44 Ntuc
23/12/2015 House -12 Ntuc
25/12/2015 House -39,9 Flour mixer
25/12/2015 House -59,9 Standing fan
31/12/2015 House -50 Aircon servicing
31/12/2015 House -8,8 Japan home
31/12/2015 House -35 Ntuc
Over $200 spent on House...This area i should work on bringing it down to less than $200. 

January 2016 is gonna be another testing month. Chinese New Year on the brink in Feb 2016. 
My $$$ will be severely tested. Let's see...


Coin Saving        $224.70
Balance Transfer $14.44
Lunch Treat        $28.00

Total                   $267.14


Coin Saving - Total amount banked in for 2015

Balance transfer - The dollar and cents transferred from my other banks to my Everything Savings Account.

Lunch Treat - New Year Eve gathering with Thomas and Jeffrey. Jeffrey insisted on treating us to lunch at Fish & Co. Had a good time catching up. Thanks for the treat man! I figured out it would probably cost each of us around $28.

How to save money!

First day of work in 2016. Saw this interesting and very true article on budgetsaresexy. Very true indeed. It's the habit that counts and not the actual amount of money saved. Therefore i gotta just save money and not keep thinking about how... just save!

Friday, January 1

Test Page

[Appreciation Dinner]

Today marks the 3rd month KidzDash is in operation. In the strictest business sense, 3 months is considered very much in the infant stage and barely worth mentioning. But to me, it's has been a tremendous life changing and learning experience with the steepest of learning curve.

We did everything the hard way. We had no business contacts. We tried to source our suppliers from Malaysia thinking that we could profit from the preferable exchange rate difference compared to Singapore. But we failed to realize that there are so many other hidden costs along the way that would far outweigh the little exchange rate gain.

There was this instance where we somehow got lost on our way in Malaysia. The language barrier made things worse as we could speak no Malay despite the efforts made by this friendly uncle who gave directions in Malay. We finally made it to our supplier's location but at the cost of many hours wasted and a very 'thirsty' car. (our Honda drank quite a bit that day...)

We have since moved on to a better way of getting our supplies from a local supplier.

But nevertheless today my brother Elston and I are taking this opportunity a offer a meal of appreciation to our family from the small small profits we made over the past few months for they had supported KidzDash from the beginning.

A little early to be celebrating, many would criticize. Even my mum says so. But what i truly believe is that we need to give ourselves some form of reward no matter how small to spur us into moving further forward and reaching higher. And more importantly to give appreciation to those who helped us along the way. I have come across too many people going on the road of arrogance after achieving some success and forsake the ones who were there when they had nothing. That, is something i would be constantly be reminding myself not to evolve into.

Ken Ong is one of the first person i would like to extend my deepest appreciation to. The business had little to no direction in the beginning and he was to one who guided us to our mission and purpose of the KidzDash branding and perspective. In short, he simple pointed us the direction to the light at the end of the tunnel.

Kelly Lee is another person whom i am thankful to for giving me so much insight and little lessons on pricing and marketing strategies to adopt into the business.

Not forgetting my Sister Evon who was ever present on site to oversee the flow of our operations and always coming up with suggestions and ideas on how to position our cars for more visibility and effectiveness. My wife will give me a good earful if i don't say anything about her, but yes i thank my lovely wife for simply being there for me and taking care of our daughter who is also KidzDash's official kids model. Daddy loves you. :)

As the saying goes, "What comes easy won't last, and what last won't come easy."

I can't agree more.