I am going to Japan for a Research Trip. I am bringing my laptop there but I might NOT be available to tabulate my trades. I do my best to but if can't so sorry about it :(
I am facing a little tiny issue with Renko where there is a divergence of the boxes. E.g. AUD/USD i sometimes see 2 extra box and sometimes I don't. Meaning some of you may find my Renko entry is different from yours.
If you do have it, please feedback to me. I will be bringing this issue up to Courtney :)
Finally my blog is updated!!! :) Well, I am still short of shifting the website to Cashflow Warrior Academy... I need to speak to our Internet Business Specialist Andrew Boey regarding about it.
this was the 2nd time I have ever run a Discussion Webinar. I was pretty uptight about it as I don't know whether how good it will turn out. Nevertheless, it turn out well.
Some key things I could have done better was that the capacity of the room is only 16. there are some other people who couldn't come in. I sincerely apologise for that. Not intended but I will try to improve on that. Another thing was I have to mute all :( Wasn't intended that way but rather the distraction sound from some parties are just simply too distracting, hence for the benefit of all. BUT they still could type in the questions and we can discuss along the way :) Just that I become the narrator of all questions, hahaha.
Please keep your feedbacks coming so that we can improve the whole process better :)
It is confirmed that we will be having our 2nd informal Newbie Support Gathering this coming Sunday. Details are as follows:
Date: 16th August 2009 Time: 2 to 5pm Venue: TBC
Please RSVP before this wednesday 12th August with Nigel at nigelnick@singnet.com.sg so that we know where to get. And if you want to offer your place, please contact me directly.
I learn something very valuable from the gathering and I commit myself to doing it. And that's Risk Management.
Courtney mentioned that he followed a very simple method - BUY on the next day open if it is a bull market and SELL it off if it drops $0.10. He never short the market so he didn't earn any money in a bear market. He was a profitable trader using this method! He explained that because of Risk Management and that is why he is a profitable trader.
It have jolt me to remember what Courtney said in Never Work Again and the Iron Clad Rule when comes to investment for Warren Buffett - "Rule No. 1: Never Lose your Money! Rule No. 2: Always refer to Rule No. 1!" With the incident of EUR/USD - both MUT and CoFlex contract was negative 200 pips each, I realised that I threw the 2 Rules out of the Window. As what Courtney have said, we are suppose to grind it out bit by bit until the BIG one comes :)
So I commit myself to use 1% of my total equity for all position, unless the 1 position takes more than 1%. Meaning 1% risk per instrument per technique. :)
Today marks the 1st ever Newbie Support Group Gathering! The venue was at TCC Circular Road. And *ALAS* we didn't take pictures!!! BUT Courtney, yes he came, took a video of us :) Maybe I can go grab it ;) Anyway, A very BIG thank you to all who came and the staffs of TCC Circular road for making this a BIG success.
All of us were quite surprised that Courtney came :) And he really gave in all his best to educate us on trading! With that, all of us gets to understand about risk management, trend analysis, coflex and many more even at a deeper level.
You know at about 9pm last night, once again I was feeling I am a legend in my own mind :) seeing 1,300 pips in all my open positions is good BUT in this morning closing time, it is only about 400 pips. Giving away about 900 pips really makes me feels like a idiot! Thinking I should have exit then...
But like what my Forex Senior, Eric Oh have said,"You need to follow the system! That's Courtney's system." I realised that we agreed to follow the system and so we must do so. I should be glad that the system makes sure that I am on the positive side :) ROI about 16% for the past week of trading :) This is something I have never done in my entire life.