Welcoming in 2010

Now that the coast is clear and things are out in the open....I can safely say that next week and then 2010 shall be a great year for my experiments to be a full-time trader. After that...things can only get clearer and simpler as I shall only put all my focus on learning new skills and applying them...to make money! Not need for fast money but a constant amount every month to cover for my living expenses plus some for the holidays at the end of every year shall be nice to have.

Women thing....will be a thing of the past too since my life will get to the stage of simple living. No need for sex....the most maybe do a bit of self servicing hehehe. Once the spot-light is turn on....then the main focus shall be to just do well in trading.

Other free time...the program is to have a healthy lifestyle meaning that I shall have time to swim, go sauna, go to gym, go to spa...and facial while in between trades. No need to be on the screen from 9 to 5 thingy. That should be the way to trade and have a life.

From my plans....this can be possible, meaning if I fund it at 50K....I should be able to enjoy 10% or 5K easily. Whatever more than that amount shall be kept in the fund to roll-over. Or the other plan is that...I just kept the fund at 50K and roll-over the profit to snowball it to the end of the year.

Why this??? It is becoz there is no interest to earn from the funding and at the same time to be on the safe side to keep a limit of exposure to the fund at a manageable amount if things fall apart esp the co. Frankly even bigger co also went "kaput" so it is much safer if I put a cap to it. Or to put in another account with other co for
other different concept of trading.

My trading plan is....2 types of trades I shall be paying attention to. First one is core trade....meaning momentum trading which will be in for longer time frame ( until it breaks trough to exit )my aim for this type is to have max 2 to 3 positions with proper money management guideline and rule while the second one is day-trade or swing-trade....it will be a very short time-frame type of trade. For this....I will only do 1 trade at a time and until I closed the trade I shall be monitoring it like a hawk. Why this is important? This shall be my bread and butter thing....it is fast and simple like a "hit and run" thing! Will focus on it esp at the first 1hr of the opening trading day everyday for SGX or HK Market....to execute 1 trade a day which will be in larger volume to make up for the shorter time-frame. In fact....for the later form of day-trade....I have read that it should only be done in the first 30 mins of opening....that is the time, the amateur traders rush in to push up the stock or push down the stock. Then...the sharks will move in for the kills. Btw I want to be among the sharks moving in for the kill....to become a killer babywhale hehehe!
So this type of trading....doesn't need to have to much monitoring time but need 100% focus of mind and soul in that timeframe. That is why to be kept at 1 trade a day!