iLuv i199

A cool product! I'm currently doing the press ads of iLuv i199. It's a High Fidelity Mini Audio System to stream music via Bluetooth devices. Apparently, there is this patent-pending technology from iLuv called BluePin that helps iLuv products send/receive music and audio wirelessly to/from many devices. You can sync with any audio device, computer or Smartphone equipped with Bluetooth wireless technology so you can send your favorite tunes to your iLuv stereo from up to 33 feet away.

Singapore is Top 5 Forex market

As mentioned, I just read 'Handbook to Forex Trading'. The book stated that the forex market is US$1.7 trillion daily. But recently, I went to a Forex preview and they said it's US$2 trillion.

Yesterday I came across this article on Straits Times and realised something else. Singapore forex market is top 5 in the world with more than $231 billion average volume. Not bad for a small red dot!

Property Prices in Vietnam

Yesterday I read the Straits Times and I realised that the property prices skyrocketed to more than US$460 psf already (from US$180 psf 3 years back). Who knows whether the property market in Vietnam will be on par with Singapore within a few more years?

This truly proves the statement "Buy property and wait" rather than "wait and buy property"!

T. Harv Eker 'Secrets of the Millionaire Mind'

"You can have all the knowledge and skills in the world, but if your "blueprint" isn't set for success, you're financially doomed." --T. Harv Eker

I'd been reading 2 books every month as part of my ongoing financial education. And typically, I will read them if I'm on a tour. In July-August when I was in Taipei, I read Adam Khoo 'Secrets of Self-Made Millionaires' and I bought (and read) a Chinese book there about the way of Investing by Warren Buffett.

And over the past 6 days, I just read T. Harv Eker 'Secrets of the Millionaire Mind' and Nicholas Tan 'Handbook of Forex Trading' The forex book is rather elementary and I recommend to those who know nuts about trading (it only covers the fundamental of forex and some trading basics - which I think personally will start your forex trading journey, but not able to propel it any further).

Anyway, what I'm interested now is to share more about Eker book. The #1 New York Times, Wall Street Journal and USA Today Bestseller is definitely one book for reshaping your millionaire mindset. There are 2 major sections: (1) Your Money Blueprint, and (2) The Wealth Files.

Eker likes to ask 'Who the heck is T. Harv Eker, and Why Should I Read This Book?'. I think the answer is simple. Many of us want to be a millionaire and mastering the inner game of wealth is definitely not an obvious science! This book really demystifies why some people are destined to be rich while others, hmm, otherwise.

Definitely one of the more powerful, persuasive, and practical wealth management / personal improvement / NLP book!



p/s: I will talk more about this book as I discover more about it.

Back from Hanoi

Been away for the past 6 days in Vietnam. I have the luxury of travelling with my parents for the 3rd time this year. First to Genting in May, then to Taipei in July-August and Hanoi for the past 6 days.

I'd been to Hanoi in December 2003 when I was still a NUS newbie doing community work. Things really change - the buildings are getting taller, motorbikes are getting more and more (including the loud horns every split second) and the pho ga (chicken noodle) costs US$1 to US$2 (previously only US$0.40 to US$0.80).

As always, they will be so happy and thankful when you give them a small tipfor their wonderful service. After all, $1 for us is just $1; but $1 to them may need them to work for one whole day.

Though everything are still not as good as any of the cities I have visited this year, the 'speed' of living is pulsing fast - just look at how fast they walk and drive. More and more properties been developing and the news reporting on 6 consecutive days of positive rally of their index. I look forward to seeing Hanoi develop into a more vibrant city - more commercial yet keeping the good old days in the Old Quarter (aka 36 Street).

And personally, I have thought of some new business ideas that I will be exploring into - HD cinematic experience, luxury hostel/hotel and cafe etc.

If You're into Forex trading...

When I'm going to start a forex trading account, I realised there are so many of them online.

These are som recommendations (or maybe considered as stringent criterias) to take note:

(1) You can open a mini account. A mini account can be funded with as low as US$250 (standard account is typically US$2,500). Mini Accounts feature smaller, 10k contract sizes and leverage of up to 200:1. For new forex traders, a mini account is a great way to get started trading in a live environment.

(2) Choose trading platform that provides you the convenience to fund your account via credit card or paypal. Do take note of the relevant banking fee - paypal (typically US$0.30 + 3.9% of the transferred fund) & credit card (US$10 to US$20 convenience fee).

(3) Look for platforms that suits your lifestyle. Some provides wireless platforms so you can trade on your PDA or mobile device. Some provides web platform while some others need you to download their real-time trading software.

(4) Commission-free forex trading - Pay no commissions, only the bid/offer spread. The bid-ask spread is already the commission for them. And also trade on spreads as low as 1-2 pips on the most widely traded currencies.

(5) Live chat is available to help you anytime '24/5' when you are trading.

(6) Additional forex resources are important. Chartings, trader educations & webinars will be helpful in your trading journey.

(7) Guaranteed fills on stop loss and limit orders. Stop loss and limit orders are an important part of every trader's risk management strategy.

Look out for all these before choosing your trading platform. With the right trading platform, victory is already half-way there.

Forex.com is one good one that I use; otherwise you can consider Oanda.com or Interbank FX.

First Straddle Win!

During the recent moody subprime happening, financial companies like Lehman Brothers (LEH), Morgan Stanley (MS), Goldman Sach (GS) and Bear Sterns (BSC) are expected to swing their stock price violently when they announce their quartetly earning report face-to-back this week.

Anticipating the swing of the stock price of Lehman Brothers (LEH) on Monday night, I entered the Straddle trade on Sep 60 Call ($1.90) and Put ($3.20). LEH announced their earning on Tuesday before market open and open with a gap up of $1.36. But surprisingly, both call and put options depreciated in value (call $1.55 and put $2.00) when market opened on Tuesday morning.

But I closed the put option when I see a steady rise in the stock price at $1.20 (ya, a loss of $2.00). And the great news was definitely the announcement by Fed chief to reduce rate at 2.15pm ET and the stock continued to rally more than $5 from previous close. At around 3.40pm ET, I closed the call option at $4.60 before market close.

No doubt the put option loses $2.00 of my bought value, it was the call option that brought me the glory by rising $2.70 in value! This resulted in a $0.70 profit (13.7% out of $5.10 that cost me on Monday).

Using Straddle strategy, it was the 'insurance' that I can profit no matter which direction the swing of the stock price.



Great! My first Straddle and first Straddle win!