FX Update – End of Week 2

After a tumultuous trading week which saw me gain 80% at one point in time, and losing up to 30% in another, I (luckily) ended the week in the green. A series of ill-timed and ill-decision trades took a dampener on my profits.

And so I decided to do something about it.

I set up totally new accounts for trading, now that my IFX and Alpari accounts are up. They will revolve on 2 different risk profiles, one aggressive account in USD and a conservative account in SGD. To fund the US account, I will withdraw my Oanda account balance next month.

And so next week begins with:

Aggressive USD – USD3750

Conservative SGD – SGD3418.21


It was quite a bad week for forex on Week 4, with my SGD account up 13% (only) and my USD account yoyo-ing up and down but eventually heading into the week in the red. However, there are still floating positions which are currently heavily in the black.

Week 3

Aggressive USD – USD5136.07

Conservative SGD – SGD6260.02

Week 4

Aggressive USD – USD4802.66

Conservative SGD – SGD7068.22

Total account equity stands at SGD11558.07. An amazing figure when all of it is profits from my initial risk capital of 3.5k a month back.


Here’s my money management plan going forward.

Conservative SGD position size is 15x account equity, with a view to reduce it to 10x when it hits $15k

Aggressive USD position size is 30x account equity, with a view to reducing it to 20x when it hits 12k

How Tanglin Halt Got Its Name

When the British first started to expand out in Singapore, they were very unused to the heat and humidity (which is why their soldiers used to wear shorts).

The story goes that one fine day, a group of surveyors was surveying the land around the region now known as ‘Tanglin Halt’. In those days, the area was a secondary forest with thick undergrowth and Nipa palms.

This intrepid group of British surveyors went hacking their way through, carrying theodolites, compasses, binoculars, and other tools of their trade. The hot, humid weather soon took a toll on them and they began to curse the “d@mned tanglin’ branches” that hindered movement, got tangled with their equipment, and ripped their clothes. Eventually, the lead surveyor let out a blasted oath that caused the local earth diety to tremble in his shrine and exclaimed to his fellow-surveyors that “Crikey, too much blasted tanglin’, let’s halt!” and they stopped and sat down for some tea and digestives.

Among their number was the obligatory translator whose name has now been lost to history. Being not a very proficient speaker of English, he presumed that they had decided to name the place Tanglin Halt and so it went down in his map.

In short, the leader of the team protested upon seeing the unauthorized name on the maps (he wanted to call it Tuppence, because that was the value the thorns took off his breeches) but the Chief Surveyor liked Tanglin Halt better and overruled him.

And that, ladies and gentlemen, is the story of how Tanglin Halt became known as Tanglin Halt.

USDCAD Dampener

I woke up at 2.30am to receive an SMS that my stop losses for EURGBP and AUDUSD had been hit. Wah shit. -$600 ggxx.

Time for calculated and rational revenge trading. What an oxymoron.

Went long AUDUSD at 0.9120 at ~3am and woke up to +160 pips and $1600 in my account but not before a margin call warning on my account.

Account Equity Update for 11 July 10am

Risk – SG – $3575.94

Conservative – US – $3899.44

Total – $7475.38 (up from $6339.92)

My Attachment Style

Today I did the Attachment Styles and Close Relationships quiz at http://www.web-research-design.net/cgi-bin/crq/crq.pl and read http://en.wikipedia.org/wiki/Attachment_disorder

I find that I have a tendency to withdraw from relationships, to serve the people in my life to the point of exhaustion (lots of give and no take), and there comes a point where my trust is betrayed by someone close to me and I immediately respond by fleeing from everyone I care about. Coming out of that isolation is hard because I’m always left with the sense that I’ve failed my loved ones, that I’ve caused them to worry and don’t deserve them, etc. Or just the fact that they’ve forgotten about me, or seem to have, anyway.

This questionnaire is designed to measure your attachment style–the way you relate to others in the context of intimate relationships. As you might suspect, people differ greatly in the ways in which they approach close relationships. For example, some people are comfortable opening up to others emotionally, whereas others are reluctant to allow themselves to depend on others.

According to attachment theory and research, there are two fundamental ways in which people differ from one another in the way they think about relationships. First, some people are more anxious than others. People who are high in attachment-related anxiety tend to worry about whether their partners really love them and often fear rejection. People low on this dimension are much less worried about such matters. Second, some people are more avoidant than others. People who are high in attachment-related avoidance are less comfortable depending on others and opening up to others.

According to your questionnaire responses, your attachment-related anxiety score is 6.00, on a scale ranging from 1 (low anxiety) to 7 (high anxiety). Your attachment-related avoidance score is 2.33, on a scale ranging from 1 (low avoidance) to 7 (high avoidance).

As you can see in this graph, the two dimensions of anxiety and avoidance can be combined to create interesting combinations of attachment styles. For example people who are low in both attachment-related anxiety and avoidance are generally considered secure because they don’t typically worry about whether their partner’s are going to reject them and they are comfortable being emotionally close to others.
Combining your anxiety and avoidance scores, you fall into the preoccupied quadrant. Previous research on attachment styles indicates that preoccupied people tend to have highly conflictual relationships. Although they are comfortable expressing their emotions, preoccupied individuals often experience a lot of negative emotions, which can often interfere with their relationships.

Since the mid-1980’s, a lot of research has been conducted on attachment styles. To learn more about this research, please visit this link. Thank you again for visiting this site.

“To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.”

-Ralph Waldo Emerson

NZDUSD Dampener

Yesterday I earned $2600 from my NZDUSD long and today I gave $900 back to Mr Market fading NZDUSD. How miserable. I’m waiting for the time where my NAV will hit 10k. ^_^

Account Equity Update for 10 July 11am

Risk – SG – $3699.47

Conservative – US – $2639.82 (withdrew $500)

Total – $6339.92

Building My Trading Workstation

It all begins with the dual/triple-monitor setup and I’m inclined to go with the Palisades Monitor Matrix now. Looks pretty darn good!

Full Workstations





 Monitor Stands and Mounts





Workstation Desks







Setting Up



A Fresh Start

Maroon 5 - Won't Go Home Without You     

It was one hell of a ride trading FX the past 1.5 weeks. I booked almost $4.2k during this period, a 40+% return which went way beyond expectations. (see http://www.myfxbook.com/members/brianho/brianho/399145 and http://www.myfxbook.com/members/brianho/act333/622210)

This made me seriously consider once again the possibility of trading forex for a living.

Here are some figures to make heads roll…

If I start with a 2.5k account, at 10% ROI per week for 40 trading weeks, I will end up with $113150. Double that ROI and I’m seeing it hit 3.674 million O.o Of course, that is just plain optimistic.

Starting Afresh….

I restarted my Oanda SG account with SGD2200 last Thursday and while trading NFP, got it to SGD2516. As for my Oanda US account, I am still considering converting it to a USD-denominated account since after all, I will be studying in the States.

Meanwhile, I have already settled on Alpari as my ECN/MT5 broker, IronFX for its eye-popping 50% deposit bonus and Pepperstone for its Razor ECN solution. I will be deciding how much to transfer soon since I’m a bit short on liquid funds right now.


Some highlights from last week!

fx1 fx2

I envisage this blog becoming a forex blog in the near future ><


Mid-Year Recap – SG Stocks

Basket. Paper loss of 25% on Healthway. Luckily, the free IHC shares will more than make up for the loss >< HA.

Anyway, here is my pathetic stock holdings now:

MapletreeGCC – 1 lot @ 1.13

ShengSiong – 1 lot @ 0.63

Healthway – 20 lots @ 0.113, 19 lots @ 0.112

Will be looking to offload all my portfolio in the near future and transfer the funds to (managed) forex trading.