A New Start

Hmm.

Its finally September. A fresh start to a new trading month after a staggering loss of nearly $13,000 last month in August. *&%#^!@% Could have paid off nearly 2 years of fees in SMU. Luckily for me my dad wasn't too pissed with me and let me off with the stern warning that I have to trade more carefully in the future.

Most traders and investors get the feeling they're invincible and that their trading strategy's all-powerful during a major bull run (think dotcom bubble), and later get reduced to rubble when the market starts crashing. Likewise for most traders nowadays, just thats its happening on a much smaller scale. Quite a few traders I know have lost money this few weeks that some people take years to save up (think >30k).

I have since thrown my random trading strategy to the wind, and am now looking for a fixed trading strategy that works on SGX. CANT FIND ANY!!! 99.9% of the books written out there are tested on the US market/Forex, the reason why I want to start trading on the US market/Forex. That's the best place for traders who love technical analysis =) I'll be signing up for Conrad's 9-lessons course @ $3288 soon. (HOLY COW)

I'll be going soon since no one wants to spend a bomb on their trading education =( Oh well. May not be as applicable to Singapore market, but its good to get started early. I'm thinking of psycho-ing some friends to join me for the November class. Hehe.

OK focus. Here are my revised goals after talking to some inspiring role models. Grrr..

21 - Forget about day trading on SGX, start trading on the US Mkt.
22 - A neat $120k ($7.5k a month to hit next target, Highly possible.)
24 - $300k ($8.5k a month, still possible)
26 - $500k ($17k a month. I think even Conrad will find this hard. )
27 - $700k ($25k a month. Ouch.)
28 - The coveted $1M

And all these only if I refuse to work after graduating from SMU. My grades will probably suck if I put all my energy into learning how to day trade, but something has to give. Looking at dumb people earn more than me really pisses me off.

ARGH!!