October 2008 Trading Account Summary

Hi all,

The illustration above show the total trading account balance after a month plus's trading. The total ytd from end Sept till now is 14.71%, with a starting account balance of US$10,000. As I reviewed my posts in Oct, there were some trades at the early part of Oct where it was not posted, as these trades could have been made while I was outdoors, that could likely have caused the omission. I hope my series of profits could continue, and I hope the posts I have made, could be helpful to you in the very near future.

The last 6 weeks have indeed been really tough for me, as I had to juggle between making contents for the blog, making trades, studying market sentiment, and between personal time, I have found posting market calls consistently to be a challenge for me. Therefore, I went into a dilemma as to whether this is meaningful for me to pursue further.

Thus over the past few days, I came up with a solution to these dilemmas. 

As my trading strategy has been short term to medium term (carrying a few days the most), I've decided to use http://www.market-hub.com as my new medium to post market calls, and an area where we can discuss more about the markets. I trust that everyone here are students of the market, so why don't we just throw out our thoughts in this new and free trading community?

If you happen to sign up at http://www.market-hub.com, just drop a note, bookmark the page, and I'm sure you will have get your reply pretty soon.

So see ya there then. 

Trade: Singapore Exchange

Hi all,

An exit was made at $4.40 on my SGX trade.

Cheers and good trades.

Trade: Singapore Exchange

Hi guys,

I have bought Singapore Exchange shares at $4.28. 

Targeting for a short term rebound during mid-day. 

Trade: Exit Eur/Usd with Losses

The two attempts yesterday were unsuccessful. A total of 50pips were lost on stops. 

Let's see if we could make better results today. 

Cheers

Trade: Long Eur @ 1.2860

2nd attempt to long Eur/Usd for the day. Will rest for the day if this trade does not turn out as desired. 30 pips will remain as my stop. First target remains at 1.2932. 

Good trades!

Trade: Eur Stopped

All positions were stopped at -20pips. 

Looking forward to further opportunities. 

Trade: Euro Long

Hi all,

I am long 50,000 Eur/Usd at 1.2851 with a tight stop placed at 1.2831. Will be looking forward to shift stops for the moment, initial target for this trade would be at 1.2931 for the inital 30,000 to be exited.

Trade: Exit Ascendas REIT at $1.68

Remaining holdings in Ascendas has been exited at $1.68. Reason for this exit is due to 'event risk' in tonight's Lehman CDS holdings announcements. I will continue to look for opportunities to go long in EUR/USD or GBP/USD over the next 24 to 48 hours.

Good trades to all.

Trade: Taken partial profit on Ascendas REIT

For your information,

I have already taken 70% profit on Ascendas REIT at $1.66. As there is no stop loss order for equities, remaining 30% will be targeted to exit if market gets near $1.57. 

Good trades to all.

Trade: Buying Singapore Stocks

Hi mates,

For your information, I have just bought Ascendas Real Estate Investment Trust at 1.55. This position is based on the expectation that the earnings announcement in the after hours will be better than expectation. 

My view is that there'll be growth in smaller industrial spaces, as most businesses will be looking at winding down large operations to keep businesses cost efficient.

Good trades.

Trade: Gold Trade

Would like to apologies, as this came abruptly. I made a  very quick trade on Gold for 500oz, where I was short from 799.68 and closed at 797.91. 

That should be all for today folks. 

Cheers and good trades.

Trade: Exit 50,000 at 1.7214

All positions exited at 1.7214. +30 pips.

Will post trades further should there be opportunity.

Good trades.

Trade: Short GBP/USD at 1.7244

I am short GBP/USD at 1.7244. Default stop is at breakeven. Initial target for 30,000 exit is at 1.7214. Stop currently at entry price. As market will be volatile on pre-news announcement.

Good trades

Trade: Exit 50,000 GBP/USD @ 1.3511

An early exit was made at 1.3511, as 1.3495 seems like to tough area to penetrate for the moment. This short term support may be the pivotal level for tonight's trend, therefore I feel it is worth to humble out.

There is a profit of 13 pips. Will be looking forward to further enter if situation allows. Looking forward to the next trade. 

Good trades.

Trade: Short 50,000 @ 1.3524 Eur/Usd

Hi mates,

I have just made a short Eur/Usd position @ 1.3524. Target 1.3494 to exit 30,000. Remainder will be shifted to Breakeven once 1.3494 is done. By default, stops will always be at 30 pips from entry price.

Cheers

Trade: GBP/USD Stop Activated

I was stopped out of my GBP/USD order @ 1.7460. Down by 30pips.

Let's look for another opportunity again.

Good trades.

Trade: Forecast for GBP/USD

The above target is my target resistance for GBP/USD within the next few sessions.

As I was away for a little too long today, I missed my entry target for today. I will be looking for a 50,000 long entry into this market if my target price at 1.7490, with stops placed at 1.7460 if this order is done.

Let's look forward to it.

Trade: Eur/Usd Exited at 1.3738

All positions exited at 1.3738.

Going for a jog. 

Cheers

Trade: 20,000 Eur/Usd for 1.3740

Hi all,

My exit target for 20,000 Eur/Usd will be 1.3740, and stops are at 1.3641.

I made a comparison between several brokers (I do not wanna name them) throughout this period, and found that most widely advertised brokers widened their spreads drastically (even up to 20 pips at times) for most major currencies, if you are ever keen on trying out a broker that maintains eur/usd consistently at 2/3 pips and gbp at 4/5 pips only, I would urge you to try out Forexyard. 

If you would like to find out more, Click here: Forexyard

Trade: Exit 30,000 Eur/Usd at 1.3675

Exit 30,000 Eur/Usd at 1.3675. Remainder 20,000 stops shifted to entry at 1.3641.

Good trades