They are still coming!

Sometimes I wonder. Singapore has 5 million people to date. Let’s say 20% (Pareto’s Law) of us are interested in taking trading courses. That makes 1 million. To date, there are close to 60 trading schools on my list. Let’s say each of them offer 3 courses. That makes over 5000 students per course. If we assume everyone takes an average of 2 courses, that makes 10,000 students per course. Mmm, let’s say a course cost $1,000. That’s $10,000,000 to be made from each course! Good money! No wonder they are still increasing in numbers! Now…what is the saturation point?

Some new courses that I come across:

• Moolaa Consultancy Pte Ltd - interesting. Like a one-stop shop for trading education. Offers everything except options.
• Eforex Academy - is a online course, something like what Grace Cheng offers. Think I include her in my list because she is Asian.
• Thomas The Coach - reminds me of Thomas the Train. Just like Moolaa Consultancy, when I first got them on my list, they only offer forex. Now they got everything! And I believe I seen Dr Foo Loon Sung appear under Moolaa before. Wonder how the 2 are related. It is a jungle out there.
• Value Investing Academy - one of the trainer turned $100 into a million! Getting more and more obscene these days.

This will be the last update to the lists. Finding it quite meaningless to continue to maintain this list. Now back to trading.

As usual, to download the “List of Local Trading Courses” and “Course Comparison Table”, subscribe at the top right hand corner of my blog.

Then again, if any of you feel very strongly about sharing about a course, it’s good and it’s bad, do drop me a note. I will still add it in.

Well, sometimes, it is difficult to convey our thoughts accurately with our natural language. I find this especially true with trading.  I am starting this series to debunk/reveal what else could people mean when they talk in the trading lingo that we hear commonly.

First up: “Hey, I profitted 1000 pips last night, the strategy works!”

Some questions that you may need to probe further:

1. Ok, last night is 1000 pips, how was it the night before or the night before before? Trading is not about one hit home runs. Or the person may lose the 1000 pips in the next few days.

2. What does 1000 pips mean? Can 1000 pips profit mean $10 profit? It sure can!

3. Does the strategy really work? Single hit wonders don’t count in trading.

Was thinking if I should post this. This was my only trade last week and was a loser I took a  full loss on this one. Still thinking how I could improve on this trade? Perhaps reverse after seeing the divergence?

EUR/GBP

Entry: S 0.8515

Initial SL: 0.8623

Loss @ 0.8623

Time for another trade of last week!

Nothing really exciting last week. Last week my P/L was flat. So just picked this trade to share.

AUD/USD

Entry: S 0.8912

Initial SL: 0.9043

Loss @ 0.8989

Again is one of those trades that makes you ump! AUD/USD today is at 0.8305!

Making adjustments to my trading rules.

Think I am going to get it from coconut again! Haha

Entry: Short 1.3181
Initial SL: 1.3371
Exited @ 1.3200