Forex revisited

Many people thinks Forex is dangerous. But I’ll tell you: Not knowing what you are doing or have little knowledge of what you are doing is dangerous.

Recently, I met a friend who advised me against trading Forex upon hearing I’m still deeply into it. He cited the reason being ‘if Forex is really profitable, then lots of people will be rich”. When I hear about this comment, I cringed. I would ask him these questions, “What makes you think Forex is dangerous? And if you have heard from people that Forex is very risky, do you know how they trade?’ Ask them to show you how they trade, & you will know much into detail why they think Forex is risky.

The brutally honest truth is only about 5% of people make it in Forex & subsequently become rich from it. 95% of people treat Forex like online casino. They go long (buy) when they see the market moves up, & they go short (sell) the moment the market moves down. This 95% of people do not have a trading plan, and wouldn’t be bother to craft one. They just trade according to their guts feeling and treat Forex like gambling (like playing russian roulette), placing as many trades as they like. In the end, they will find their account wiped out within days. This is the reason why they failed terribly.

Forex, on the other hand can bring massive wealth to you, once you understand how it’s being played, your discipline & lotsa patience. A good trade doesn’t come everyday. Neither will the market move in the way which you wanted it to move. It is thru experience, training & knowledge that will shape you to be a professional trader.

— signed out                                                                                                                                                         ah Tseng

JOB & its real meaning

HiHi blog, it has been quite some time since I last visited & blogged on you. To be frank, I have nothing in mind to write on you. This time round, I’ll explain the real definition of a job.

JOB is an acronym for Just Over Broke. It safeguard one by repeatedly topping up his bank account every month, so as to ensure he/she does not go broke. A job real definition is: “A short term solution to a long term problem.” As we go to work in a job, we are trading our time for money; we need to travel to a place in order to work in a job. What happens if one were to be retrenched, or to stay unemployed for a long period of time?

Some of you may say ‘Well, Go back to school, get yourself retrain, upgrade in order to stay employed in a job’. While that may be true, note in this technology driven world, there is something called a ‘Lag Time’. Lag time means the difference in time between a new idea’s conception and its acceptance by the industry. It simply means that new ideas, equipment, technology, etc comes up to society faster than before. Today, one may study in certain specialized subject (eg: engineering). The moment he gradates, it will not be long (3 years or below) before new ideas surface to the industry.  The skill & knowledge one gets during his course of study will be obsolete, & he would have to go back to school to be re-educated again & again. Do you think re-training and re-education is free? I seriously doubt so. And in this technology ruled (Information Age) world, certain industries gets replaced sooner than before.

One thing I know for sure — when you are broke or do not have money in the bank, your banker will be the one to get even with you. Not even your teachers or professors who awarded you distinctions or countless ‘A’ in your examinations could help you. In fact, they don’t even care. They only care about their salaries, their job, their promotion. Only when you have money sense, spend wisely, have financial education can you help yourself in this forward moving society.

— signed off                                                                                                                                                       ah tseng

Safety first

Often, I’ve noticed that individual likes to keep his eyes glued to his mobile phone, palm top PC, tablet, etc while walking along the pavement or street. Please don’t do that. The result of this is you might hit something, or someone might crash into you.

Let’s say you are on the road or street, & your eyes are glued to the LCD panel (or whatever you’re handling). You are not aware of what’s ahead of you. Wouldn’t it be dangerous if an oncoming vehicle / bicycle happens to cross your path. The consequence will be more severe than when you are walking on a pavement (but eyes somewhere else).

When you have to return /send an sms, kindly stop walking, move to a safe side & complete your task first before continuing your way. It is through not focusing on where you are going, that small accidents might occur. Remember, safety is everyone’s responsibility, not just one party / person alone.

– signed off                                                                                                                                                                                                                             ah Tseng

The different Human Eras

Since human race was evolved, man has lived thru 4 different Ages (Eras). They are namely the Hunter-Gatherer Age, Agrarian Age, Industrial Age & the Information Age. The Age that we presently lived in is known as the Information Age. Let us look into each and every individual Ages, to gain an understanding of the Era & the happenings:-

1) Hunter-Gatherer Age — In the beginning, man begins as hunter. Nature is wealth. As long as man master the skill of hunting, he is wealthy. He hunts animals for survival, trading them with another person (at times). Population of human isn’t much then and land is plentiful. He build his home with whatever he could find and wander to various places for shelter and accommodation.  There are no worries, as life then is very simple and carefree.

2) Agrarian Age — This is the agriculture age. Humans have learn how to grow crops, rear farms for survival. Life then is very rural, and hard work is required by man to earn a living.  There are less or no modern facilities and most of the time, one has to travel by foot to several kilometers to get his things done. Save for the future is very important in this era, as money is regarded as very valuable in this era. Education is limited, as there are not many chances for schooling.

3) Industrial Age — The industrial age begins with the evolved of industry. Urbanization takes place, rural life is much reduced. Money is being used for transaction throughout this era. Land become valuable for doing businesses and investing. Entrepreneurs wishing to do business would rent a space for a rental fee. The idea of save money for the future still holds true, but invest to ‘grow your money’ becomes an additional ‘tool’, as money (otherwise known as ‘currency’) will tends to appreciate or depreciate in the society and the financial market. The idea of  go to school, get good grades and get a good + stable job holds very true in this era. Experience in a job is very important. The longer one stays in a company (& accumulate job experiences), the more the company will value the employee.

4) Information Age — Information age begins with the introduction of internet. Information is passed round the world via the internet. This result in the replacement of  traditional business with the use of internet. Now, one doesn’t need to travel to a shop/agencies to get his purchasing or do his booking. All he has to do is to log in, get to the webpage and does his transaction. Web conferencing is becoming popular as one can connect to any part of the world, thus reducing time for traveling. One can get in the net @ the comfort of his own home to attend meetings, does transactions. These days, it doesn’t take experiences or paperwork to do business or to get a career. All one need are ideas, knowledge, constant education to get him in this fast pace society. In fact, a good idea is what one need to start a business. Saving for the future is no longer a very good idea as inflation kicks in, money loses its value (*see a separate paragraph on ‘currency’ (money) at the bottom) after some time in the financial market. Investing (to grow your money) holds an important role in this modern society. The world commands a fast pace and the latest information to date. Jobs are no longer stable. Age will catch up with man and without the latest information/education, the company may bid him farewell even though he has numerous years of experience.

*Currency – The word ‘money’ is in fact known as ‘currency’. Currency like the flow of the river (current), needs to flow from one place to another. This is why money tends to depreciate/appreciate most of the times due to economy, disasters, buying/selling power, etc.

— signed off                                                                                                                                                                                                                            ah Tseng

1 eye, 1 ear & 2 mouths

As strangely as the title implies, this post is not written to imply that living beings are born with 1 eye, 1 ear & 2 mouths. Rather, it is an article to explain the behaviour of most human beings, & what separate the rich from the poor. Let us go in depth of this.

God has given us 2 eyes, 2 ears and 1 mouth. This is a fact that all of us could not deny it. The implication of this is to tell us to see & observe more (in short term as well as long term); to hear more (good and sensible advices, & lectures of all sort); & to speak less (not to remain silent but rather to say sensible speeches, & not indulge in gossips, rumours, etc).

Saying this, most people I’ve communicated with does the opposite. They behave with 1 eye, 1 ear & 2 mouths. Take a look around you. Do u see a lot of poor (as in financially poor as well as educational poor) people around? Do you hear lotsa complaining, whining around? Do you hear lotsa gossiping, rumours spreading around? Do you see lotsa gamblers, people pinning on hope to strike the lottery around? Do you hear lotsa suicides, loanshark harassment, spending around? People look at thing only on one side of the coin, when a coin has 2 sides. They do not observe enough, & that makes them behave with 1 eye & 1 ear. They keep on complaining and gossiping all the unworthy, unnecessary which makes them behave with 2 mouths. How issit that we do not use our God’s gift wisely enough, but rather to use it in the opposite way? The way that people behave with 1 eye, 1 ear & 2 mouths will guarantee that they will fail in life. Successful & rich people behave the way God has created us. Do use your 2 eyes, 2 ears & 1 mouth wisely & change/improve for the better instead of behaving the opposite way. (“,)

signed off                                                                                                                                                                                                                                     – ah Tseng

Listenining & changes

There are 2 types of people in this world (pertaining to listening). First type are those who listen, remember and put into practice. These category subsequently lead to behavior/attitude/mindset changes, which is good for the person & the society. The second type of people are those who listen (with one ear & out the other ear), forget about what is being said earlier on & after a short while go back to his ways. These type of people are unlikely to change or to carry out certain tasking. It is thus a waste of time and effort for someone to speak/counsel/give advise to another to change. Think about this, all friends/love ones/families would be pleased to see someone change for the better (not the worst). No matter how many times you tell a person off or scold him, if he return back to his own ways after listening, there’s no point in using your effort to try to correct him further. Such a person can be left to fend for himself, or be subject to greater drastic results later on in life.

– signed off                                                                                                                                                                                                                               ah Tseng

Savings & saving money

Hi Diary, it’s been a while since I last wrote to you. The reason is nothing to blog about (heh). Sorry diary. Today, I shall blog on an important part of our money management – savings.

It has come to my attention that many of my friends have been spending (& spending), follow the latest trend & not saving as a result. They would then later say that they had no money. Let me touch on how to save effectively. It’s actually very simple (but most people overlook it and tend to neglect it). To save, you must 1st have discipline on yourself. Nobody can help you to save. Most people would not help you to save. They on the contrary, would influence you to spend, & spend,till you find yourself with little money left. If you are earning a high salary every month (say about $5K and above), you can afford to spend. However, if you earning $2K and below per month, you will have to watch your budget and spending.

Methods of saving: 1)Keep about 10% of your earnings in your “PERSONAL bank” and don’t touch it at all times. This is to form your long term money tree. (If you think 10% of earnings per month would take a very long time to grow big money, I would quote you something from Warrant Buffet – “You can’t produce a baby within one month by getting 9 women pregnant”. Know what this means? This simply is to say you can’t speed up a process. Success, savings or anything good has to build thru time.); 2)If you need to spend, spend ONLY on your necessities. DO NOT upon seeing any sale of 50% or 70% off, just buy without any care for money. You also have to ask yourself (when you gonna buy an item) “Do I SERIOUSLY need this?” Many people spend on impulse & they just spend on the biggest sale. But then again, have you ask yourself do you need  the item??; 3)DO NOT follow the latest trend, because the latest trend would encourage you to spend money. If you say my friend say this is good, & influence u to get it too, why must you follow him/her? Your friend may be earning big bucks, or he/she has gotten money from family to buy the latest trend. But you are not earning big bucks every month. So discipline also comes in in this case.; 4)Befriend more of this type of people who save $$.; 5)Always look for alternative instead of going window-shopping always (e.g: going to the library, take up sports, join a volunteer group, etc). As always, ‘The best way not to spend is to stop looking at things/latest trend’.

Remember, money doesn’t have eyes to see, neither does it possesses feelings when you spend it. It definitely will not produce a wailing sound, when you waste it away. On the contrary, humans are the one who have feelings and control over their spending. In future, when you are older/retired/retrenched(touch wood)/lost your only source of income, who’s gonna help you if you do not have savings? Friends who have been spending & influence you to spend will not help you. On the contrary, they’ll borrow money from you or ignore/leave you in the lurch. Money management and discipline are your OWN responsibility to savings. We will have to save consistently, especially now when inflation has kicked in. Food prices, transport fares has been rising. Should you not save, do you think you can retired comfortably in future, especially in this high tech, advanced technology world?

– signed off                                                                                                                                                                                                                               ah Tseng

Forex trading & its misconception

They said trading (in the financial market) is boring & very dangerous. Well, to a certain extent, I would agree with this statement. Trading is somewhat boring, having to look at the chart, with the prices going up & down. It is also somewhat dangerous, because of the high risk that one undertake. You could lose all your money fast in financial market trading, or u can win substantial amount quickly in the split second of any time.

I myself am doing trading too, but not in shares, bonds, futures, etc. I trade Forex, i.e: currency trading. In Forex trading, one is trading the currency of an entire economy against another. There are, no doubt risks involve when executing a trade. One can’t 100% guess where the exchange rate would move. But hey, have courage when taking trades. Strategies and discipline are in place for one to follow. Often Greed, Fear, Ignorant & Hope are the factors that will cause the downfall of human.

Trading is not boring. On the contrary, I find it to be interesting. It’s the plotting of various ideal patterns and indicators on the charts (or ‘candlesticks’),  & these will lead to the determination and calculation of Entry Price, Stop Loss & Target Profit. Once these 3 ‘magical numbers’ are obtained, we then key in the trade order with the appropriate data. Regardless of whether the Entry Price (of any trade) is trigger, we need not bother about the price movement. We simple just let the trade run by itself. There isn’t a need to keep on looking @ the computer screen. The more you look @ the chart & the price movement, the more stressful you are. One should learn to relax, as ‘good things come to those who wait’.

Here’s a link where you can open a free ‘live’ account:- “Forex via FxPrimus” (referer’s ID = 7519)

*For those who are already into serious trading or just starting out, you may wanna check out this blog regarding trading psychology & discipline. The information stated may help you to trade successfully with the correct attitude & mindset:-“Trading Psychology & Discipline”.

– signed off                                                                                                                                                                                                                               ah Tseng

Basic courtesy

With the increase of foreign influx/foreign talent to Singapore, one can say that Singapore is now a multi-national country, with lots of culture & experiences, from overseas as well as locals.

I’ve noticed that the country’s courtesy has deteriorate over the past few years. Example: basic courtesy is not shown when asking to share seats in crowded hawker centre. ‘Thank you’ or ‘Excuse me’ or ‘Sorry’ is not even said when favours are done. It seems rather rude when good manners are not displayed.

People do not show basic courtesy in their everyday life. Example such as the above mentioned are very common these days. The kind of acts exhibited by people these days shows that you must give way to them without any appreciation.

Sigh, as the world changes, climate changes, human also changes. Where once courtesy was shown in our world, is no longer around. It has become ‘a take it for granted gratitude’.

– signed off                                                                                                                                                                                                                               ah Tseng

KTM railway track

Some of u may have know that I’m an avid cyclist (heh), i.e: cycle everywhere everyday within Singapore. Whenever I make a trip to Johor Bahru (Malaysia), I would cycle all the way up from my home to woodlands custom (via Bukit Timah), parked my bike there & take a bus in. I still do this (non-stop). It’s a habit that I won’t change (lolx). Anyway, this post isn’t about my cycling habit.

A little info into the latest happening in Singapore. The KTM Malaysia railway (trains which operates from Singapore to the northern Peninsular Malaysia) used to operate from Tanjong Pagar railway station. Earlier this year, it was announce that the Tanjong Pagar station would cease operation on 1st July 2011, & all operation will begin from woodlands checkpoint. It is now a few weeks into July 2011, & the railway tracks is now left empty.

Lately, I’ve noticed several people walking on the tracks of the KTM railway (which once runs from Tanjong Pagar to Woodlands custom). *Don’t worry, they are not attempting suicide. Instead they are doing what seems like fitness walking on the track. After all, there’ll be no danger as no trains run on them now. 2 most prominent points will be at Bukit Timah (near McDonald King’s Albert) & the Rail mall (Upp Bukit Timah). *I pass by the whole stretch of Bukit Timah, Upp Bukit Timah & Woodlands Road & hence I would notice this. One can easily spot at least 20 people while on this two places. I believe they could be using the railway track as brisk walking, or perhaps they wanted to walk from one end to the other, in order to explore the track (as this could not be done so in the past when the tracks were still functioning) as well as nature seeing. Whatever the reasons are, I thought this is a good way for Singaporeans to back track the history of the KTM railway. Maybe some day, I would walk on the track from one point to another for the experience & sightseeing. Let’s just hope that the KTM railway track will remain.

– signed off                                                                                                                                                                                                                                ah Tseng