Still not enough

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made a loss of 10pips today.

that means I still don have enough knowledge on this.

gonna hit the forex books hard during the weekends.

nitez =(

Psychology of Good Forex Traders =P

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I'm still a beginner at Forex Trading
But I learnt a valuable lesson today.

Didn't see a trend??
Don't trade!!!

When I got back from work,
opened up my demo account,
I couldn't seem to find a trend in EUR/USD.

So, I decided to gamble.
Made a trade and went to nap

An hour later,
woke up and I was down 40pips!!!
luckily I managed to cut my loss to 30pips.

Lesson of the day:
Do not predict, use indicators and trend lines to determine trends.

Luckily,
I sold short and won back the lost pips and now I'm up by 10 pips.
Thanks to the trend =P

Check out my graph =)


I sold short after the price broke the support
and rode the trend all the way down !!!

Forex Updates

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Lost $900 last night.

After work, took a short nap.
8.30pm, started playing Forex demo account.
EUR/USD is starting to move already.

Played 5 lots per trade, meaning its around 50 profit/loss per pip movement.
Win a little less than 50pips.
That means its around $2300.

If I have a mini account,
that would be around $230.

Done for the day.
Time: 11.30pm

50pip profit in 3 hours.
Not bad =)


(open these pictures in a new tab. Coz this blog template wont allow me to up-size it)


As you can see above,
I use trend lines and EMA to determine
my entry point.
Though not the most effective,
I'll study more about MACD and RSA
and add them to my trading style.


My transactions for the day =)

Malaysian Brain Drain, me likey =)

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These few days, I've been reading about the Malaysian brain drain. It seems that many people, especially Chinese and Indians, are migrating overseas to work. Well, who could blame them, considering the double standards, the low pay and the overall useless-ness of Malaysia.


I understand why they decided to move. I, for one, am not that proud to be a Malaysian. I hope to move overseas someday too, preferably US or Australia or UK or any western countries. If no money, Singapore only-lah =P


Here's one of the news about the brain drain and how Najib set up the Talent Corp to lure the diasporas back to Malaysia. Funny as hell, and true too!!


Taken from The MI:


Johan Mahmood Merican must be breathing something different from the rest of us. In an interview with the Singapore Straits Times, he said that rhetoric over race will not impact the efforts of his organisation, Talent Corp, to lure Malaysians back home.

In essence, he said Malaysians living abroad will look at the policies of the Najib administration rather than be influenced by the chatter over race which has dominated the national discourse.

I suppose he has to say positive things but without realism this Talent Corp venture is doomed for failure. And the signs are that Johan is in la-la land.

The majority of the more than one million Malaysians did not leave the country because the tax rate is uncompetitive or because public transportation is woeful or because the national education system is dismal. They left because deep in their gut they did not believe they would get a fair shake in this country.

If Talent Corp did some research, it would realise that the spike in migration numbers was noticeable when race relations were at their worst and the sense of alienation among non-Malays over their position in this country. Does Johan even believe that Malaysians in Singapore, London and Melbourne are excited about the ETP, NKRA or whatever.

Please-lah. All these men and women have heard and read about the MSC and the economic corridors and have seen the major gap between plans and implementation. They know that Bumiputera and Umno interests have to be taken care and that meritocracy will take a back seat to affirmative action imperatives.

They also know that the general feeling among Umno types and civil servants is that returning talent is not welcome.

But most of all Malaysians abroad increasingly cannot recognise the country they left. It would not have helped matters that both Prime Minister Najib Razak and former PM Mahathir Mohamad refused to accept a main point of the World Bank study that Malaysia’s brain drain was mainly the result of social injustice.

Now if the people of influence in government refuse to accept the underlying factors of the brain drain, how serious can they be of wanting to tackle the problem? The answer: not very serious.

These national leaders do not condemn the race rhetoric and increasingly right-wing tone of Malaysia. In fact, they seem to encourage it, allowing Ibrahim Ali and the mainstream media to get away with insulting non-Malays and non-Muslims.

Does Johan actually believe that Malaysian Christians working abroad are interested in coming back now that Utusan Malaysia has started a campaign against Christianity?


So I think given his interview with the Singapore Straits Times, we can conclude that Talent Corp is doomed for failure.


So in conclusion, Talent Corp failed even before it began operation. Why?? Because it's set up by the government-lah !!

FOREX - My Gold Mine??

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During this month of my internship,
apart from wasting my time playing games and sleeping,
I read numerous, actually only two, books about Forex.

Forex is basically a currency exchange, something like stocks,
in which you trade a pair of currencies and try to benefit from it.

Well, I did try to play Forex with a demo account of USD100,000.
And, after two weeks of trying, I think I'm finally getting a hang of it.

For today's trade,
I profited USD1,000!!!
Not bad for a beginner eh?

Well, it's actually not as easy as it sounds though,
I lose more than I earned actually =P

I hope to make a consistent profit by the time I start playing for real.
But for the time being..
Well, even if I earned 1 mil in a trade,
it's all virtual and I can't buy sh*t with it.

LOL

PS Vita - My next handheld

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Sony announced the successor to the PSP

at the 2011 E3 Press Conference

called the PS Vita,

formerly known as NGP.





My first impression after seeing the demo?

It has been included into my To-Buy List =)

PS Vita is amazing !!!



The pricing is $250 in the US,

meaning it should be priced around RM800++

Time to start saving and start starving =)



Here's some of the key features:
  • 5-inch OLED multi-touch capacitive screen
  • Front and rear facing camera
  • Front and rear multitouch pad
  • Six axis sensor
  • Built in microphone
  • Wi-fi
  • GPS

Work

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Started my internship a last Wednesday.


First two days I have my orientation.

Met a bunch of new friends

from UM, Segi, Taylor's

There's even a guy from Drake University, US


On Friday,

I went to my own department, IT Advisory.

My supervisor is Jared, former student in UTP now working there full-time.

The whole day doing paperwork,

sien


hopefully it will all change soon and I won't be here

rotting away, dying of boredom

=)

2010 @ My Life My Story | by sendomike|