Feb 27

While doing my reservist, I just thought of sharing with you guys one of my long term forex trade – strongshorting of GBP/AUD/strong. Most traders wont even look at this because the spread is around 10 pips! Then again, let me explain more…

Looking at GBP, I think this currency may probably be the worst performing currency this 2 to 3 months. Judging on the recent economic data triend including the highest employment level ever in 12 years. Tthe GBP should be headed lower.

On the other hand, the RBA intends to raise interest rates again very soon. The good economy due to mining boom (which always fuel inflation) must rise the AUD (to contain inflation).

On the technical side, you can easily see the strong downtrend of GBP pais and decent uptrend of AUD, and hence clear down-down for GBP/AUD!

strongConclusion: From both a technical and fundamental basis, this pair should be headed lower./strong

A side note: We, at Forex Asia Academy (FAA), are currently set up a new blog called a title=Forex Asia Live (www.ForexAsiaLive.com). As our tagline Make It Live, we (me, our traders and strategists) are going to blog about the 3E of our Live trades – entries, exits and experiences. Stay tuned!

Jan 8

Everytime at this point of the year, I will think back on what I did for the last 12 months and plan for the next year ahead.

Somehow I realised the year 2009 was really a tough year! Maybe it’s in the midst of a financial crisis and the entire environment was rather messy. Or perhaps I met up with a lot more people and I have lots to write here about people around me. After all, it had been a year of experiences and discovery.

Just like having buddies to enjoy the true fun of trading, you need people and partners in business along the way.

When I ’semi-retired’, this was when I start to delegate my works and responsibilities around, I met up with more people that I could discover more only when you work with them. When I look back at the ones that I should not trust in the first way, I have broken them down in several major categories:

1. People who think too highly about themselves and also tell people how much their time is worth and how expensive they are. And when you buy into their expensive story, they deliver peanut value to you.

2. People who claim sky high and deliver below hell level. And worse of all, when the outcome is in a mess, they push back the sh*t to you (i.e. push back to me in many cases).

3. People who have too big of an ego and just don’t admit that they are wrong and waste my time by defending them for the whole afternoon. When you’re wrong about a trade, you’re wrong. Same goes for life, business and investment decisions.

4. People who don’t deliver and then avoid you all the way (whether you sms, call, email or fax him) to prevent himself from explaining and embarassment.

5. People who don’t deliver their high claims and yet ask you for more payment or business. These are really the thick-skinned!!!

6. People who want to get paid first and/or get the contracts signed and/or ask for money first, then no follow-up from there or you don’t hear from them (unless you call them). Especially true for media sales people…

7. People who push their way through and keep hard selling. That’s why you never get my deal!!

Perhaps this is marketing, perhaps this is just how the world works. People who read this, please take note!

The best people I worked with in the year 2009:
1. Lowie
2. Ong/Mei and his team in Malaysia
3. Chee Seng (still my best Tutorial Master and assistant), Yeanjie and Billy
4. KS Low (still my best pal in business chit-chat)

There are more on my list. Apologies if your name is not on the list – I probably thank you when I see you! Thank you all who had helped me along the way in the year 2009 and I hope to stay in touch ongoingly!

To summarize, the year 2009 was really special to me as I remember that I wanted to semi-retire at the age of 26. And yes, the age 26 was now over.

Time for a new beginning.

Dec 15
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Forex Graduates Gathering (Quarter 4, 2009 – Penang)
FGG-2009Q4-KL-PhotoCollage
Forex Graduates Gathering (Quarter 4, 2009 – Klang Valley)

 

Another 2 photo collages of the 2 Malaysia gathering session last week!!! Both were held at the hotels – nice view (but super lousy service at Tanjung Bungah Beach Hotel in Penang) & nice ambience (really good service by the staffs at Pearl International Hotel in Klang Valley).  

 

Dec 13

I just ended my last workshop, focused talks and gatherings (for the year 2009) and felt a sense of completion! This is really a tough year for me and I will always remember this year as the one with lots of ups and downs.

Just like many of you who experiencing the downside because of what happen around us recently, you are not alone. I was conned twice this year (in fact, dragged from last year) and made various investment and business mistakes. But, come to think about it, this is part and parcel of one’s life. Like what I always say, I’m lucky to have been through all these at an earlier stage of life (compared to many others) .

On a positive side, I really learn a great deal this year so far – overcoming obstacles and barriers, venturing into new unexplored grounds, dealing with people a 20s like me may not get to know, coping with real difficult people and upholding my personal belief yet not jeopardizing my business.

Like what most people said, these are just blessings in disguise – no one will understand what I’ve been through to appreciate what I have right now. Many may just see the end results without understanding my journey involved (which I trust this is even much more precious).

Time to move on. My next offering – FOREX INSTITUTIONAL INTENSIVE for institutional traders and experienced traders.

FII-Logo copy

I may have my fair share of scrutiny and I trust this is not the end. More to come, but I definitely have more to deliver and value add! But now, I’m going to take a break for the rest of 2009! :)

Dec 5
FGG-2009Q4-SG-PhotoCollage

Forex Graduates Gathering (Quarter 4, 2009 - Singapore)

A great gathering session yesterday!!! First time holding a gathering at a cafe, I loved the atmosphere of the place and also energies of the Singaporean graduates at the gathering yesterday. So happy to meet up with all the graduates and also launch our very new platform (which is launched to our graduates first).

Looking forward to the 2 Malaysia gathering sessions next week! :)

Nov 16

faa-showfxasia-151109a

Just want to share the joy here at koonlip.com that Forex Asia Academy was just awarded with ‘The Best Forex Education Project in Asia’ for having Forex Intensive by ShowFxAsia Expo 2009 held in The Ritz Carlton Kuala Lumpur.

Just want to share the joy here at koonlip.com that Forex Asia Academy was just awarded with ‘The Best Forex Education Project in Asia’ for having Forex Intensive by ShowFxAsia Expo 2009 held in The Ritz Carlton Kuala Lumpur on 14-15 November 2009.

The key criterion of winning the award for my FOREX INTENSIVE programme are as follows:

  • extensive source of authoritative educational materials
  • must have hundreds of traders every year whose successful trading at Forex market
  • independent from any dealing center (i.e. brokers)
  • rejection the service of teachers who are not traders themselves
  • trading on Forex instead of theoretical discussions

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Me with Vladimir Syrov (left) and Eldar Sharipov (right) from Instaforex – Broker of the Year

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Here’s the award certificate! Hoohoo! :)

Nov 10

I just received an email from a gentleman and thought of sharing this story.

Lowie spoke to me pertaining this guy’s interest in your FOREX INTENSIVE programme. He himself spent almost SGD11k for both the beginner ($4,888) and advance ($5,888) course from a so-called forex academy (that operates on MLM). After that, he (as a SGD2,000 monthly earner) had blown his account with their strategy and now accordingly to his words, he is “very skeptical of any forex course which advertise, advertise and advertise again and again”.  The high hope he pinned on gained him nothing. After searching for so many course online, he realised that only Chris Lori and my course do not advertise much (think this is Chris) or do not even advertised (and this should be me).

That’s his story. I was in a dilemma state! On a business point of view, I wanted him to enroll into my programme. But as a trader myself, I (instead) emailed him the following advices having him to re-evaluate his options again:

  • Yes, he should not give up forex trading since he already spent and invested so much money and time.
  • But then, he should consider whether now is the right time to rush in again mainly because he may not have enough cashflow to take my programme and having the appropriate capital to trade the forex market.
  • Next, based on what he mentioned in his email, his emotional state of mind may not be appropriate for trading right now.
  • Trading should not be done under a ’rush rush’ environment.

For those of you who want to engage in forex trading, do consider all these factors.

Nov 2

FAA_M24

I just completed my recent workshop in Kuala Lumpu. This must be one of the toughest workshop I ever conducted. Let me elaborate on the problems surfaced:

1. Ibfx powerstats just happened to be down on wednesday to friday.

2. Some of the buttons on the Fxcm platform didn’t appear for some of the students.

3. We had a ‘fake alert’ as one of the students wrote the wrong birthday on his facebook. Haha.

4. No entry for Teabreak Strategy on friday as there was no breakout.

Anyway, everything’s fine! All the best in trading for the new batch of graduates! :)

p/s: We entered Sell into EUR/USD using the short-term price pullback strategy and so far, it’s already 50+ pips in our favour!

Oct 26

I was invited by Instaforex to do a forex talk (for the second time) on last Saturday (24 October 2009) in KLCC Convention Centre. Thank you Instaforex and also the endorsement from Alliance Bank (Malaysia) for sponsoring me for this event.

insta001 insta002

By the way, Instaforex is recently named the Best Broker in Asia by World Finance (http://www.worldfinance.com/winners_articles.php?article_id=718).

Aug 5
For those who are trading the GBP related currency pairs, please take note that GBP/USD seems to be testing the 1.7000 mark.
On Tuesday 04 August 2009 (our local time), GBP/USD breached this benchmark twice and rebound back to 1.6900 region. Furthermore, it has been hovering up and down between 1.69 and 1.70.
As 1.7000 seems to be a strong resistance line, so please take note that any technical indicators may not work as well.
Elsewhere, GBP/JPY is testing the 162.00 level too!

For those who are trading the GBP related currency pairs, please take note that GBP/USD seems to be testing the 1.7000 mark.

On Tuesday 04 August 2009 (our local time), GBP/USD breached this benchmark twice and rebound back to 1.6900 region. Furthermore, it has been hovering up and down between 1.69 and 1.70.

As 1.7000 seems to be a strong resistance line, so please take note that any technical indicators may not work as well.

Elsewhere, GBP/JPY is testing the 162.00 level too!

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