As usual, proposed the trade to my boss and he did nothing for the whole day. Than after I left the office, called me to ask what I think. How the fuck will I know since I cannot possibly remember what I read in the morning for the commentaries.
Just do not understand him. Do not know about option but wanted to act as if like an expert. Sigh.. if not because I need the job, I would have probably told him off already.
Do I need to put up with this? For how long? I do not know the answer, may be for a very long while..... stuck inthis hole again.
Monday, July 30, 2007
Tuesday, July 24, 2007
No, not again!
Just when I thought I got it, the act of self-destruction is in play again.
I should have focus on what I am doing right and just continue doing it. This is always the problem with me. When things are going well, I wanted to try other thing to make more money. The ending result is always the same, lost back all my making. When can I learn my lesson.
I should have focus on what I am doing right and just continue doing it. This is always the problem with me. When things are going well, I wanted to try other thing to make more money. The ending result is always the same, lost back all my making. When can I learn my lesson.
Monday, July 23, 2007
My Goal
For the past few days, have been reading and attended a lecture, where I see many fellow CFA professionals. Many of them seems to be doing quite well in their career, some being partner of the firm, some having director as designation.
I just feel that I should be doing better in life, but it seems that I having been performing under my potential. With the situation I am currently in, I am sure that i cannot go further. So what should I do? Doing own business is one way out, but the risk is there. The other thing is to do my own trading. This is a more viable route, and since I have been able to achieved consitant profit, I think I should do that.
Now, I want to put this on paper, and that is, I want to make SGD1 million in trading starting from now! or rather, I want to have SGD1 million, or CHF800,000 in my account as I will be putting more funds into the trading account going forward if I can keep doing this.
The other thing I thought of doing is to invest in a small cap company, build up a substantial position and become a subtanstial shareholder, so that I can appoint myself onto the board. But this is not very feasible as I need to pump in alot of money into one company.
Anyway, my goal is to make my money in trading so that I have SGD1 million in my trading account. This may take 10 years, but this is only my trading account, and I should have other investment so that I should have more than this SGD1 million if I do it correctly.
I just feel that I should be doing better in life, but it seems that I having been performing under my potential. With the situation I am currently in, I am sure that i cannot go further. So what should I do? Doing own business is one way out, but the risk is there. The other thing is to do my own trading. This is a more viable route, and since I have been able to achieved consitant profit, I think I should do that.
Now, I want to put this on paper, and that is, I want to make SGD1 million in trading starting from now! or rather, I want to have SGD1 million, or CHF800,000 in my account as I will be putting more funds into the trading account going forward if I can keep doing this.
The other thing I thought of doing is to invest in a small cap company, build up a substantial position and become a subtanstial shareholder, so that I can appoint myself onto the board. But this is not very feasible as I need to pump in alot of money into one company.
Anyway, my goal is to make my money in trading so that I have SGD1 million in my trading account. This may take 10 years, but this is only my trading account, and I should have other investment so that I should have more than this SGD1 million if I do it correctly.
Thursday, July 19, 2007
Need to fine tune my trading
Have been through a roller-coaster month with my trading.
I was up to CHF45,200 at one stage but now goes back to CHF44,377. The reason being that I was in 2 minds of what to do with the month of Aug when I am on holiday. So I thought might as well sell some puts for Aug expiry and take delivery of the stocks if get put on. While this sounded logical, the problem is that it upset my trading rhythm.
Furthermore, the trading of the FX has been pulling down my P&L as well. Again I am in 2 minds on this. On the one hand, I wanted the trading in FX to help to improve my P&L. On the other hand, I do not want the FX position to disturbed my option trading rhythm. So I think I ended up neither here nor there. I need to decide how I wanted to trade going forward. One of the considerations, while not related to trading of FX, is the base currency position.
While it is logical to hold multiple currencies so as to diversify the currency exposure, it created an unintended effect of affecting the P&L of my option trading which has nothing to do with the option position I took. Because, ultimately, I need to convert it back to SGD, and if CHF/SGD weakens, I will take a hit on the exchange rate, and therefore I wanted to diversify the currency base.
Reviewing my trades so far for this 6 months, while I think that I should be able to achieve the 2-2.5% target return per month, I still think that I should fine tune my trading method as there are a few times if I had followed the rules, I would have come out better.
Anyway, I must be grateful as now I am much better compared to a year ago. I am confident that I can achieve what I want, given enough time.
I was up to CHF45,200 at one stage but now goes back to CHF44,377. The reason being that I was in 2 minds of what to do with the month of Aug when I am on holiday. So I thought might as well sell some puts for Aug expiry and take delivery of the stocks if get put on. While this sounded logical, the problem is that it upset my trading rhythm.
Furthermore, the trading of the FX has been pulling down my P&L as well. Again I am in 2 minds on this. On the one hand, I wanted the trading in FX to help to improve my P&L. On the other hand, I do not want the FX position to disturbed my option trading rhythm. So I think I ended up neither here nor there. I need to decide how I wanted to trade going forward. One of the considerations, while not related to trading of FX, is the base currency position.
While it is logical to hold multiple currencies so as to diversify the currency exposure, it created an unintended effect of affecting the P&L of my option trading which has nothing to do with the option position I took. Because, ultimately, I need to convert it back to SGD, and if CHF/SGD weakens, I will take a hit on the exchange rate, and therefore I wanted to diversify the currency base.
Reviewing my trades so far for this 6 months, while I think that I should be able to achieve the 2-2.5% target return per month, I still think that I should fine tune my trading method as there are a few times if I had followed the rules, I would have come out better.
Anyway, I must be grateful as now I am much better compared to a year ago. I am confident that I can achieve what I want, given enough time.
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