Choo Koon Lip

Once and again, I would like to extend my gratitude to our participants at our Forex Asia Congress 2010.

I thank all of you for the kind participation and I would like to share some of the great feedbacks emailed from the audiences in commerating our presenters. Thank you for writing in!

“‘Da Shi Xiong’ Chee Seng and Yeanjie (Ipoh guy) really impressed me in the Forex Asia Congress. Their sincerity attracted many interest and this must the reason why the 2 of them got the loudest applause.”

“Ram, watched your Kallang Roar movie before… didn’t expect to see you in person, and definitely not in a forex event… great to meet you in person, your session enlighten our mood throughout the meaningful congress…”

“Out of the sea of fx trading, i didn’t expect you guys can use forex as a tool to invest in aussie properties. hope KS can come more to malaysia to enlighten us…”

“Mr Loh really ‘li hai’ – wow no tech indicator wor, what he draw on the flipchart really appear on the chart on the friday gathering before congress… his theorist method (hope i spell correct) really really ‘li hai’… and also thanks for the USD50 trading credit.”

(on Elvis) “Despite not having EA or fanciful indicators, you really share a lot more than with his fibo lines and fractal. tq for ur kind sharing and was very impressed by ur unique strategies…”

“even though Billy have limited time in sharing his speed strategy, but i can sense the passion from him in scalping.. looking forward to the course conducted by him and you…”

Words from the Financial Experts!

“Koon Lip, Congrats to your Seminar in KL, Very Successful.”
- Peter Tai, Founder / CEO, PT Investment Academy (via Facebook)

“kawan, take care.. lets do a bigger one.. Your Singapore gang is all gear up for it . .. I believe so.”
- Kee Wah Soong, President, Malaysia Financial Planning Council (via Facebook)

…and finally, a thumb up for my admin and logistics team!

Finally, our Forex Asia Congress finally ended with a high note!

Thank you everyone and our always supportive graduates for coming to Forex Asia Congress! I really hope you people learnt a great deal!

Thank You Mr Kee Wah Soong and our media friends for gracing the event.

Thank you my presenters (Chee Seng, KS, Loh, Yean Jie, Billy & Elvis) and emcee-host Santhanaram Jayaram and Lily Chee.

You guys were great! Solid contents, great chemistry!

Thank you Lowie, Ong Bak Yam, Mei Chen, Gavin Chong, Lee Wai Chon & Ken Chin on helping out in the admin, logistics and everything else.

The whole team really worked hard mainly due to the intense preparation (which included lack of sleep and meal!!) in preparing for the Friday gathering and Saturday Congress for the both weekends.

Thank you thank you.

While many trade for the thrills, they often do not know why they win or lose.

I was in a fortunate position where I control myself better (and no trade to indulge myself in the thrills of trading).

Let me tell you what happened today to myself: I entered a short position into EURUSD in the morning around 1130am with a profit target at 1.222 and stop loss at 1.241 which is near the high of the last 8 hours. I anticipate the price will go back to the downtrend with confirmation from the indicators.

It hit stop loss at around 245pm. Although the loss was realized, I actually feel happier that I have a stop loss (as the price is at xxx already at the time of writing) and I really feel happy despite i’m wrong! :p

We just set up another blog at ForexAsiaLive.com where we blog about our forex trades and hence, it has been a while since I regularly updated this blog.

We (as in me an my strategists) are sharing bits and pieces of our trading experiences. Do visit ForexAsiaLive.com and better still, become one of our fans at Facebook!

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!

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.

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).  

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.

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!

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!

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

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

Here’s the award certificate! Hoohoo!