I just cannot believe it... it happen again! Was up 7k, and than disaster strike, now I am not even sure if I can end up in the black!

So what when wrong? I really need to pin down my mistakes in order to progress, and commit not to make them again!

Ok, now let's see :

1) I try to trade too many markets and too many different method. And when I do this, I did not follow the rule to the end, especially when the trade show losses.

2) Overleverage on my FX account. This leads to margin call and closing is a very expensive affair because of the bid ask spread.

3) Mixing investment and trading. Shares that is supposed to be investment is being book in IB account and that makes the mark-to-market performance very milky.

So to fix all these problem, I should :

i) in my IB account, I am going to just sell options on XLE and OIH based on te rules. Do nothing else in this account. Keep my focus on the monthly 2% return.

ii) As for the FX account, utilize margin up to 20-30% and not any more. This should fix the problem.

iii) not sure how to fix (3). Unless I open another account, or I use optionsxpress. However, I am not willing to commit further funds. Furthermore, have been buying Singapore shares. Do I really have an edge in US shares for that matter?

Really, I need to focus on my goal, which is to make at least 2% per month, and achieve an amount of SGD1 million within 7 years. Now with a baby coming on board, I must really think for my kid. No more sloppy trading. I have to be focus on the business I am doing so that i can give the best to my kid.

In fact, I want to make a commitment here that I am dedicating this trading profit to my kid.

Really, I I can really make a million, than I can either buy a better apartment for the sake of my kid, or the money can going into whatever my kid want to do.

So God, please help me.

2008 Resolution

2007 had passed.

It is really a year of waste. Why? I achieved nothing in 2007. So I think I am going to write my 2008 resolution down in this blog as I want to make a commitment so that I can aim for what I want to achieve.

My resoultion as follow :

1) To achieve a return of at least 2% per month return in my own trading.

I intend to achieve this by focusing on my core strategy, which is to sell options on equities and FX. In the past, I was always distracted by other trades. So much so that my profit made from the core strategy always lost back to the market and ended up with sub-par performance. As long as I stick to my core strategy, achieving a 2% return per month is not difficult, so BE FOCUS!

2) To be able to run the reserviour one round.

My body is really getting worst. The above use to be normal, but now, I struggle to run one round. So I should run at least 3 times per week to build up my fitness. A stretch target should be to run the Standchart Maraton 10km.

3) To lose weight to 66kg.

While not fat, still overweight base on BMI, so need to lose some weight to achieve a better BMI