‘Start with Why’ and concept of ‘The Golden Circle’ by Simon Sinek

“It’s not what you do that matters, it’s why you do it.” That is a powerful message I heard when I watched the video of Simon Sinek, the author of ‘Start with Why’. Simon explains what leadership is and the reason why some people and organisations are great, while others make no impact.

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8 Takeaways from 4 Singapore Traders at Traders’ Blueprint Book Launch

Here are 8 takeaways from the Traders’ Blueprint Book Launch on 5 May 2018. For those who are interested in trading and want to learn more, but missed the session, here are the takeways from Collin Seow,  Marc Liu, Rayner Teo and Alex Yeo.

Traders' Blueprint Book Launch

1. Ride your winners

Let your winners run and cut your losses. This is because you won’t know which will be your winners at the beginning.

2. Risk management to contain your losses.

Have a stop loss amount of 1% to 2% of the trading amount for each trade. This is so that you don’t blow your trading account by protecting your capital.

3. Need to focus on a niche that makes sense to you

This is so that you don’t go into analysis-paralysis (by analysing too much and into too many areas), or keep switching strategy without fine-tuning and improving your strategy first.

4. Don’t make trading your life

There are other areas of your life besides trading. Don’t live your life just for trading. This is when Marc shared as a proprietary trader (when a trader trades with a firm’s money and share profits with the firm), the stress level is very high, he did it for 1 to 2 years but found it unsustainable.

Rayner also shared how when he worked as a proprietary trader, his day would start at 7 am and end late at night like 10 pm. Also, you would need to pay for desk fee (from $1000 to $5000) before you even make money. There is a lot of stress in the job. Also, the company only take young singles because of the long hours.

5. Resources to start investing in options for beginners

Alex, who trades options, shared the following two books that can help beginners learn more about options:
“The Complete Guide to Option Selling” by James Cordier and “The Art and Science of Technical Analysis” by Adam Grimes which is about price action.

6. View of US market and Singapore market in 2018

Philips Securities shared that they feel that the equity market trend is still intact as long as S&P500 is above 2600 points and strong support at 200 MA.

However, the market is very volatile in 2018, so buy-and-hold strategy might not be the best. Investors can consider using CFDs to hedge their long-term holdings.

The authors trade mainly the US market. All four feel that the US market is still in the uptrend and most feel that the support is at 2600 points and as long as price is above the 200 MA, the uptrend would still be intact.

Alex commented that for the Singapore market, we have not even reached the all time high of 3800 points before the recession in 2007, so we haven’t reach the exuberance level yet for a likely market crash.

7. Is there a technical indicator for stock and options that has the highest success rate?

Alex, who trades options, shared that options is a derivative and the value is derived from the underlying assets. He explored a lot of indicators and found two, ichimoku cloud and pivot point, which works for him when trading options.

Marc said that there is no one indicator that gives the highest success. Maybe, one indicator might work for a period of time only. For himself, he uses Stochastic RSI and CCI.

Collin uses MA and CCI. He shared that these are not the best indicators but are easy for him to understand. The indicators can help you get a feel of the market and does not mean you must trade with these indicators. To Collin, trading is looking at the big picture, using the top-down approach, looking for strong stock to buy and then using technical analysis for entry and exit.

For Rayner, he uses MA and ATR. ATR measures the amount of volatility. He uses ATR to set stop loss, so that there is enough room for the trade to move. Rayner cautioned that indicators are derivatives of prices, so we need to know the maths behind the indicators before using them.

8. What is the biggest challenge of trading full time from home office?

For those who are thinking of trading full time from home, these traders were against the idea.

To Marc, he would need to go somewhere to trade, as if he stay at home, there will be distractions. He would suggest that one does not trade full time at home as looking at the computer screen all day is not healthy.

Rayner also suggested that one does not do it full time. He advised that one keep their full-time job and start trading mid-term and long-term trends. Also have other sources of income. Rayner himself conducts classes.

Similarly, Collin echoed the other two. He feels that one should not begin with trading full time at home. If one does want to trade full time, going into an office space and trading together with a few other traders, might be a better option.

 

A Guide to Solo Travel: A to Z ebook published on Lulu

Hi readers,

For those who are interested to do solo travelling but have no idea on how to go about it, check out my ebook “A Guide to Solo Travel: A to Z” which was hot off the press on 21 April 2018. It provides simple steps and basic knowledge and tips on how you can embark on a solo trip.

This ebook is currently available at my store at Lulu.

A Guide to Solo Travel: A to Z

If you enjoy what I have written on this website and would like to give some support for the writings and help to defray some costs of running this website, you can get this ebook at a low cost of US1.99 from my store at Lulu.

You can also get a copy of my travelogue “One Woman’s Solo Land Trip: Visiting 5 Southeast Asian Countries in 6 Weeks” from the same store or other major online bookstores like Amazon and Barnes and Noble.

 

Tired? Frustrated? Depressed and desperately in need of a change? The next hour could transform your life.

Want to transform your life, reach beyond your limits and achieve your most ambitious goals? Three TED talks that would help you change your life. Here are the transcriptions of the key points of the talks. Be inspired and take action today.

Three Steps to Transform Your Life

Lena Kay  shared ‘Three Steps to Transform Your Life’.

Step 1: Focus on your dream and your vision

What is your goal? This is not the time to get practical. People think, ‘I love to have this, I love to do that, but how am I going to do it?’ Or they talked to someone and someone talked them out of it. Don’t be practical in Step 1. It is just about focusing, clarifying what you want. Make sure you write it down. Get very specific on what you want because the brain will give you what you want.

Step 2: Self-mastery

What do you believe about the things that you want? You see, life doesn’t give you what you want, it gives you what you believe in. Self-mastery is about knowing how you feel, what do you believe. It is so important what you believe in. Self-mastery is your inner work. Only you can do the work but it is worth it.

Step 3: Imagine you have already reached your goals, and from that conscious awareness, take action

Imagine you go forward five years from now, everything in your life is 10 out of 10. Would you feel and act differently from today? The answers are usually ‘yes’.

What I suggest is you act from that level of consciousness. Don’t wait for five years to feel like that. You can feel like that today. Then, you take action. Then you take the next step. Just one step towards what you want.

Negative thoughts and emotions weaken your immune system, so judgement, complaining, any negative emotions weakens your body. Scientists said we have 50,000 to 90,000 thoughts per day, but 90% of them are the same ones you had yesterday. But the problem is that the same thoughts create the same emotion, that create the same action that gets the same results, and then you get the same thoughts and the cycle of creation continues.

You see, most people wait for outside circumstances to change before they change. But life is totally opposite. You must change on the inside in order to see change on the outside.

Lastly, Lena ended the talk by stressing the need for individual transformation.
‘Everything wants society to change. Everyone wants social transformation. But you cannot have social transformation without individual transformation.’

Reach Beyond your Limits by Training Your Mind

Marisa Peer shared how ‘To reach beyond your limits by training your mind’. Marisa highlighted that the most important collaboration is between you and your mind. To her, the brain is not really complex and complicated like what most people think.

Just put these 4 things into practice and you will have success across the board at every level.

(1) Your mind does what you think you want

It always does what it thinks is in your best interest. For example, if you are staying the ‘work is killing me’, your brain will know you don’t want to do the work and it will procrastinate, or if you say ‘you want some days off’, it will make you fall sick. Tell your brain using very specific, very detailed words of what you want, and it must bring pleasure, so you must tell yourself that you ‘love it’. Look at your behaviour. If you are not getting what you want, you are not collaborating with your mind.

(2) Mind is hardwired for pleasure and avoid pain

Tell your mind what you want and link to pleasure what you want to do. Link ‘what you do’ to pleasure, and link ‘not doing it’ to pain.

(3) Pictures you make in your head and the words you use

When you collaborate with your brain, you must change those pictures and words to what you want. Your body doesn’t care if the words you tell it is true or false, helpful or unhelpful, it will respond to the words you tell it.

(4) Mind loves what is familiar and likes to go over what is familiar

Change what is unfamiliar into familiar. Make self belief normal to you. What is familiar is for example, procrastination, not applying yourself, not believing in yourself. So, you need to make those unfamiliar familiar, like working hard, believing in yourself. Believe you are the best, not only believe, but also work hard. First you make your beliefs, than your beliefs make you. When you believe in yourself, other people believe in you. When you stretch your mind to new dimension, it never ever goes back. Your potential expands.

Achieve Your Most Ambitous Goals

Stephen Duneier shared ‘How to Achieve Your Most Ambitous Goals’.

He shared how from kindergarten to second year of college, he was a C- student who couldn’t settle down. All his teachers feel that he was a very bright kid, if only he could settle down and focus. In reality, they didn’t realise that he wanted that even more than they wanted it for him. But he just couldn’t.

Finally, in his junior year of college, he had enough. He would make a change. He would make a marginal adjustment. He was going to stop being a spectator of his decision making and start becoming an active participant. So that year, instead of pretending again that he would suddenly be able to settle down and focus on things for more than 5 or 10 minutes at a time, he decided to assume he wouldn’t. He felt that to achieve the type of outcomes that he wanted in school, he would have to change his approach. He decided to make marginal adjustments. If he was given an assignment, he would break it down into these tasks that he could achieve, that would require him to focus for 5 or 10 minutes at a time. Then, he would get up and do something else. Then, he would come back, not necessarily to the same assignment, not even necessarily the same subject, just do another task that require 5 to 10 minutes of his attention. From then on, he was a straight A student, Dean’s list, President Honour, every semester.  Using the same approach, he then went on to success in his career and personal success as an artist and achieving many other personal goals like learning German, learning how to fly an helicopter, learning knitting and crocheting, losing weight and many others.

He shared three simple steps:

(1) Make large tasks into small tasks that you can achieve
(2) Then, make marginable adjustments to the process
(3) Become an active participant

You would absolutely love this guy. I encourage all to listen to his speech which was engaging, funny as well as motivating.

 

Six Foods to Avoid Eating at Night

Avoiding certain foods at night can help you have better quality sleep. It can possibly prevent weight gain and issues such as kidney stones.

6 Foods to Avoid Eating at Night