Market Updates 28 December 2015

STI up 4 out of 4 trading day last week, break the 10 days high, closed at 2878 last week, also closed above the 20days moving average, this is a good sign as we have not seen STI above the 20ma for a long time. This probably is due to year end window dressing as Fund manager would like to sell away the lacklustre small cap stocks and buy in bluechip as the year is closing.

STI,上周连涨4个交易日， 破10日高点，闭市在2878，也成功的站上20日的均线，这个星期蓝筹股有望看涨。可能基金经理会做橱窗粉饰，把2，3线的股票卖掉，换一下较好的蓝筹股。

银行股连续跌了8个星期，上个星期终于反弹，平均涨了2%，

2 weeks ago mention on 958 that we should monitor banks stock if there is interest rate hike, now it finally move, we can continue to monitor bank stocks as they are most beneficial to the interest rate hike.

Dow at risk of having its first down year since 2008, few days more to end the 2015 and it could be the smallest grow in US stock market since 2008, 2015 form a strong resistance at 18350, for the whole year, the Dow Jones index did not manage to break above 18350 level, this show that the bull run is slowing down and it is not a good sign for 2016

道指自2008年，每年都创新高，眼看就过多天，2015年就要结束了，这可能是自2008年以来最小副的镇长， 道指在18350较强阻力，全年，道琼斯指数没能突破18350水平，这表明，牛市行情正在放缓，对2016年的展望不是一个好兆头

Trading Holiday for Dec 2015 for All markets that you must know!

Dear Friend,

We would like to wish you Merry Christmas and Happy New Year!

Please take note of the exchange holidays for the festive period ahead.

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ETRADE is exiting the Singapore market and what MUST you do if you have shares under ETrade?

Please take note that E*TRADE is exiting the Singapore market and what MUST you do if you have shares under E*Trade? 


It is another example where our established presence once again shows that WE ARE ALWAYS HERE for YOU.

Hurry.. Find out how to transfer your US shares in today.

 Enjoy US$20* flat commission for US markets

 Waiver* of live price subscription for US market

 Local dealing support for US hours

 No Local withdrawal fees

 Multi-currency ledger

 No statement fees

 No transfer in fees

Don't have Phillip Prepaid Account? Contact us NOW!

We will be extending our Cash Prepaid Account promotion of US Commission at US$20 flat together with the following promotion with immediate effect: Transfer in US shares and receive up to US$88 trade rebates*

Should you require any further information, contact us now http://bit.ly/1gegCv0

Terms & Conditions for Transfer in US shares and receive up to US$88 trade rebates Promotion:

·         This Promotion is applicable to “Eligible Clients” of Phillip Securities Pte Ltd (PSPL) who fulfil the criteria listed below:

• Successful transfer in of US shares from 15^th December 2015 to 31^st March 2016 (“Promotional Period”)

·         Eligible clients who trade within the Promotional Period will receive:

• Up to US$88 trade rebate on his/her BUY trades in the US market only (Capped at first 3 buy trades after transfer in)

·         Each client is entitled to a maximum of US$88 trade rebate regardless of the number of trading accounts he/she may have.

·         The Promotion is applicable to trades executed both offline through the Trading Representative and/or online via www.poems.com.sg, www.poems.com.sg/p2 and POEMS mobile.

·         Eligible clients will receive the trade rebates after the promotional period.

·         Flat commission U$ 20 applicable to cash prepaid account under series number (997000-999999 & 2090000-2099999).

·         This Promotion is not applicable to corporate account, Cash Trading Account, Remisier Account, Remisier’s Spouse’s account and staff account. In the event of a dispute over the client’s eligibility to participate in this promotion, PSPL’s decision will be final.

·         PSPL shall have the right to determine whether a client is entitled to receive the rebates and stock counters to be transferred in are subject to approval.

·         Notwithstanding anything herein contained, PSPL reserves the right at any time in its absolute discrete to (i) amend, add and / or delete these Terms and Conditions without prior notification (including eligibility; replace the prize of similar value; promotional mechanics, promotion duration without prior notification, qualifying terms and criteria), and all participants shall be bound by such amendments, additions and / or deletions when effected, or (ii) vary, withdraw, or cancel any items or the promotion without having to disclose a reason there of and without any compensation or payment whatsoever. PSPL decision on all matters relating to the promotion shall be final and binding on all participants.

Source: PSPL

How to Trade CFD Indices? Using advance order types to max your profit & min loss!

New to CFD Trading?
Do you wish hedge your position when market turn into a bear market or know how to you use lesser capital to take on opportunity in the market? In this article, let me share with you what is Contract for Difference (CFD) all about.

What is Contract for Difference (CFD)?

Contract for difference (CFD) is a contract between two parties, typically described as "buyer" and "seller".  Stipulating that the seller will pay to the buyer the difference between the current value of an asset and its value at contract time (If the difference is negative, then the buyer pays instead to the seller).

CFDs are financial derivatives that allow traders to take advantage of prices moving up (long positions) or prices moving down (short positions) on underlying financial instruments. 

Margin requirement
As CFD is an Leveraged product hence it operates like a Margin Account. Margin requirement is the minimum capital you have to park in to the account to have an open position. 

Financial charges
You essentially become a borrower by as CFD allow you to trade larger stocks or indices using smaller amount of your fund and borrowed fund. Financial charges are charged on daily, mark to market price when market close

Trading STI index on POEMS. How does it look like?

CFD allowed you to long as well as short the STI index, 
Long is to buy first, sell later at a higher price to make profit.
Short is to Sell first, buy back later at a lower price to make profit. 

STI Bid-Ask Spread is at 3.6 pips. E.g STI bid price is at 2850.6 while ask price is at 2854.2, 

Search for Straits Time Index SGD5 in PhillipCFD or Poems 2.0 you will find the contract.

To calculate the value of contract, every 1 point in STI is valued at SGD5. 
If you buy 1 Contract of Straits Time Index SGD5 at 2850, your contract value is $14250, however margin Requirement in CFD is only 5%, hence = 14250*5%= SGD712.5

if you have a 50point Gain in your profit will be 50xSGD5= SGD250

So, what will be the COST in trading STI using CFD under POEMS?
Here is the counter detail for STI

Important advantage of trading STI is the lower COST.
Financial Charges: 1.5% p.a for long position and 2.5% for short position.

Minimum Margin requirement: 5% 
(lower requirement mean lower stuck in fund, opportunity cost is lower)

Commission Charge: SGD3 per transaction
(Stock market minimum commission charge is at SGD25 and yet you are required large amount of fund to invest )

World Indices 

Trading Platforms
A dedicated application-based platform designed for risk management or the brand new POEMS Mobile CFD, which allows you to trade CFDs anytime, anywhere. Whichever platform you require to suit your lifestyle, we are certain you would be able to find one that would suit your needs amongst the Phillip CFD offering. 

• Advanced Order Types Provided:
• Stop-Limit
• Trailing Stop
• If Done
• OCO Order
• Contingency

Why Phillip CFD?

• A member of Phillip Capital
• Winner of Largest CFD Broker in Singapore 
• First stockbroker to introduce CFDs to Singapore
• Phillip CFD prices are marked to market, with no additional spreads. Direct Market Access (DMA) for Singapore market
• Phillip CFD is committed to provide fair dealing and a transparent trading experience 
• Phillip CFD also won the award of being *Singapore’s largest CFD provider by market share for 2010, 2011,2012,2013 and 2014.

Education

Click for short videos on how CFD works

Still not sure how CFD works? Come and join us for CFD coaching  

Get yourself ready and prepare before Market is selling down and how to profit from market correction that everyone MUST know on how to take advantage using CFD to max your profit from bull and bear market

Losing huge money each time without proper stop loss? Come and join us to learn risk management features to minimise your loss NOW!

You shall learn:

• How CFD works & CFD Platform Demo
• How to utilise Risk Management to Maximise your Profits and Minimise your Losses?
• Learn how to key in GTD orders and Advance Order Types to manage your portfolio while you are not looking at the markets?
• How to trade World Indices using CFD? Are you entitled to dividends if you have a long position in World Indices CFD?
• Market outlook and stocks selection using Technical Analysis
• Identify the strongest and weakest stocks in the market right now
• << Untold Scerect Of CFD Trading >>

Event Details

• Dates:  14 Dec 2015
• Venue: Level 6, Presentation Room, Raffles City Tower, 250 North Bridge Road
• Time: 7pm - 10pm
• Fee: Free Admission

Register Now, Last seminar for this Year! 

Want to open Phillip CFD account? To receive more frequent Trading Ideas in your Email or SMS? Open a Free Trading Account with us now! http://bit.ly/1gegCv0

Singapore High Yield Mid Cap Stocks through 2015

The FTSE ST Mid Cap Index comprises the companies below the top 70%, but within the top 90% of the Index Universe by full market capitalisation, capturing the performance of the mid-capitalised companies trading on the SGX Mainboard. The five highest yielding stocks of the Index are Asian Pay Television Trust, Keppel Infrastructure Trust, OUE Hospitality Trust, CDL Hospitality Trusts and China Merchants Holdings (Pacific). Together, these five stocks currently maintain a 12-month dividend yield of 9.0%. Of the five above-mentioned stocks, three distribute dividends on a quarterly basis, and two on a semi-annual basis.

The FTSE ST Mid Cap Index comprises the companies below the top 70%, but within the top 90% of the Index Universe by full market capitalisation. The index is a free float adjusted market-capitalisation weighted index representing the performance of the mid-capitalised companies trading on the SGX Mainboard, which pass the size, free float, and liquidity screens. As of 30 Nov 2015, there were 49 constituents in the Index. The FTSE ST Mid Cap Index has a combined market capitalisation of S$105.6 billion, and generated year-to-date and three-year total returns of negative 6.4% and 0.9% respectively. The index currently maintains a dividend yield of 4.8%, 107 bps higher compared to the MSCI Asia ex Japan Mid Cap Index at 3.1%. The five highest-yielding stocks of the FTSE ST Mid Cap Index are Asian Pay Television Trust, Keppel Infrastructure Trust, OUE Hospitality Trust, CDL Hospitality Trusts and China Merchants Holdings (Pacific). These five stocks represent 7.2% of the Index, and maintained a 12-month dividend yield of 9.0% as of yesterday’s close. The table below details the five highest-yielding stocks of the FTSE ST Mid Cap Index. Click on each stock to visit its profile page on SGX StockFacts. Asian Pay Television Trust Asian Pay Television Trust owns, operates, and maintains pay-TV and broadband businesses in Taiwan, Hong Kong, Japan, and Singapore. The company provides basic cable TV, and premium digital cable TV services; and value-added services, such as broadband Internet access and cable telephony services, as well as premium digital television programming to households and businesses. It serves approximately 1.1 million homes. Keppel Infrastructure Trust Keppel Infrastructure Trust is a listed business trust, and invests in a diversified portfolio of core infrastructure assets located in jurisdictions with well-developed legal frameworks that support infrastructure investment. The portfolio consists of nine infrastructure businesses located across Singapore and Australia. OUE Hospitality Trust OUE Hospitality Trust invests, directly or indirectly, in a portfolio of income-producing real estate which is used primarily for hospitality and/or hospitality-related purposes, as well as real estate-related assets. Real estate used for hospitality purposes includes hotels, serviced residences, resorts and other lodging facilities, and may include commercial, entertainment, retail and leisure facilities. Properties used for hospitality-related purposes include retail and/or commercial assets. The asset portfolio consists of three hospitality properties located in Singapore. CDL Hospitality Trusts CDL Hospitality Trusts is stapled group comprising CDL Hospitality Real Estate Investment Trust and CDL Hospitality Business Trust, and invests in a portfolio of hospitality and/or hospitality-related income-producing real estate assets. It owns 15 hotels and 2 resorts across Singapore, Australia, New Zealand, The Maldives, Japan and the UK, which are valued at S$2.5 billion collectively. China Merchants Holdings (Pacific) China Merchants Holdings (Pacific) invests in, manages, and operates toll roads in the People’s Republic of China. The company operates through two segments, Toll Road Operations and Property Development. It currently operates eight toll roads totalling 567 kilometres, located in the Zhejiang province, Jiangxi Province, Guangxi Zhuang Autonomous Region and Guizhou province. The company also provides management and technical services in toll road and other infrastructure related businesses. In addition, it is involved in the development of land, and the construction and sale of residential housing. Source: My Gateway Click here to see previous post topic related to dividend stocks Want to receive more frequent Trading Ideas in your Email or SMS? Open a Free Trading Account with us now! http://bit.ly/1gegCv0

Are stock markets going to rally around Christmas?

There are many mistakes a retail investor makes when selecting the right stock. In this seminar, Andy Yew, an experienced remisier and trader will share his systematic method on how to eliminate the mistakes. 

Are stock markets going to Rally around Christmas? When will the next turning point be? Will you catch the right wave this time? Come and listen to what we have to say in our upcoming seminar. We are ready to share with you more about Singapore & Foreign markets outlook. 

You shall learn:

• US, China, Hong Kong, Singapore & Malaysia market outlook 
• How to pick the right stocks?
• How to profit from markets sell down?
• What Money management rules that you must follow?
• What sector to look at and which sector to avoid ?
• Market outlook and individual Singapore stocks analysis using Technical Analysis
• How to get rid of your emotion using mechanical trading system?

 Event Details

• 10 Dec (Thu), English, 7pm-10pm  
• Venue: International Plaza, #34-07, 10 Anson Road, S(079903)
• Fee: Free Admission

Speaker: Andy Yew

Top 10 Phillip CFD award

Interviewed by Channel 8

Invited speaker for SGX seminar

Regular guest speaker on Singapore Radio

Trainer for Share Investor Academy

Columnist for Shares Investment

Founder of ART Trading System

Click here to Register (Last Seminar for This Year)

Two Weak US Counter Available to Short in PhillipCFD

Groupon

Groupon has tumbled by more than 65% year to date, owing to weak financial results and an uncertain future outlook. 

However, if you followed ART Position Trade short at $7.60, 60% unrealized profit as compared peak price at $8.30. For the simplicity comparison we ignored additional short signal along the trend (The profit will be more than over 60%!). Is there any possibility for you to better than our system that captured more than 60%?.If you think no then our ART system will be beneficial to you. If you are not convinced the system is better than you lets share more examples.

Register for our CFD seminar to learn how to benefit from current market condition!

Micron Technology

Leading memory chip maker Micron Technology has seen a more than 50% decline in its stock price so far this year. While the weak macro environment and adverse currency headwinds have in general slowed down growth in the semiconductor industry, Micron’s business is primarily being impacted by the oversupply situation and declining prices in the DRAM market. 

As far as you can see our system trend system does reflects macro economic changes in the market, Micron Technology's main revenue is based on exporting the chips. The share price is surged due to the appreciation of USD. Our ART position trade system captured the price falling trend grants you 40% profit when you short this counter.

Register for our CFD seminar to learn how to benefit from current market condition!

Market Updates Singapore

Straits times index up 13 points Higher today at 2884, The blue-chip index gained slightly following the US market. Right now we see most stock is trading sideway, most likely investors are staying sideway and anticipating the more news on the december rate hike from the US federal reserve.

Transport and Banks stocks  is moving up today. SMRT up 2% Comfortdelgro up 2.37%, DBS up 0.42%, Ocbc up 0.81 and UOB up 1%

Overall Singapore market remain in an oversold position, now is a good time for investors who like to buy blue chip stocks as most of them is currently trading at a discount. However Singapore market remain weak hence investor are trading cautiously with small gain small loss.

IMF宣布将人民币纳入SDR货币篮子 明年10月生效

国际货币基金组织（IMF）执董会11月30日批准人民币加入特别提款权（SDR）货币篮子，新的货币篮子将于2016年10月1日正式生效。为确保各方有充足时间进行调整以适应新的变化，新的货币篮子将于2016年10月1日正式生效。SDR的价值将由包括美元、欧元、人民币、日元和英镑在内的篮子内五种货币的加权平均值决定。篮子货币的权重调整为：美元占41.73%，欧元占30.93%，人民币占10.92%，日元占8.33%，英镑占8.09%。

SDR是IMF于1969年创设的一种国际储备资产，用以弥补成员国官方储备不足。会员国发生国际收支逆差时，可用它向基金组织指定的其它会员国换取外汇，以偿付国际收支逆差或偿还基金组织贷款，还可与黄金、自由兑换货币一样充作国际储备。但由于其只是一种记帐单位，不是真正货币，使用时必须先换成其他货币，不能直接用于贸易或非贸易的支付。特别提款权定值是和一揽子货币挂钩，市值不是固定的。IMF成员国可以以特别提款权获得储备篮子中任何一种货币以满足国际收支需求的权利。因为它是国际货币基金组织原有的普通提款权以外的一种补充，所以称为特别提款权（SDR）。

IMF相信中国将会继续渐进地开放资本市场，但IMF认为整个金融市场开放的“顺序”更重要。首先要有一个清晰的货币框架，然后是灵活的汇率制度，此后才能进一步开放资本市场。在Lombard Street Research首席经济学家、研究部主管Diana Choyleva看来，如果人民币被纳入IMF储备货币，这将标志中中国开始全面融入全球金融市场。这和2001年中国加入WTO一样，人民币纳入SDR将让中国打开资本账户，并由市场决定利率和汇率，这将给全球经济带来变革。

对于国际市场上人民币使用的短期影响，IMF亚太部门主管李昌镛(Changyong Rhee)在周一的电话会议上对媒体表示，市场对未来人民币的需求存在两种截然不同的看法，有人认为人民币加入SDR后，受欢迎程度上升，需求会相应上升。但也有认为，加入SDR后，中国资本市场更加开放，会出现资本流出的情况。因此两种方向的影响都存在，“净影响”目前还很难判断。

5 Steps to becoming a Professional trader that you MUST know!

Step One: Unconscious Incompetence.
This is the first step you take when starting to look into trading. you know that its a good way of making money because you've heard so many things about it and heard of so many millionaires. Unfortunately, just like when you first desire to drive a car you think it will be easy - after all, how hard can it be? Price either moves up or down - what's the big secret to that then - lets get cracking!

Unfortunately, just as when you first take your place in front of a steering wheel you find very quickly that you haven't got the first clue about what you're trying to do. You take lots of trades and lots of risks. When you enter a trade it turns against you so you reverse and it turns again .. and again, and again.

You may have initial success, and that's even worse - cos it tells your brain that this really is simple and you start to risk more money.

You try to turn around your losses by doubling up every time you trade. Sometimes you'll get away with it but more often than not you will come away scathed and bruised You are totally oblivious to your incompetence at trading.

This step can last for a week or two of trading but the market is usually swift and you move on to the next stage.

Step Two - Conscious Incompetence
Step two is where you realise that there is more work involved in trading and that you might actually have to work a few things out. You consciously realise that you are an incompetent trader - you don't have the skills or the insight to turn a regular profit.

You now set about buying systems and e-books galore, read websites based everywhere from USA to the Ukraine. and begin your search for the holy grail. During this time you will be a system nomad - you will flick from method to method day by day and week by week never sticking with one long enough to actually see if it does work. Every time you come upon a new indicator you'll be ecstatic that this is the one that will make all the difference.

You will test out automated systems on Metatrader, you'll play with moving averages, Fibonacci lines, support & resistance, Pivots, Fractals, Divergence, DMI, ADX, and a hundred other things all in the vein hope that your 'magic system' starts today. You'll be a top and bottom picker, trying to find the exact point of reversal with your indicators and you'll find yourself chasing losing trades and even adding to them because you are so sure you are right.

You'll go into the live chat room and see other traders making pips and you want to know why it's not you - you'll ask a million questions, some of which are so dumb that looking back you feel a bit silly. You'll then reach the point where you think all the ones who are calling pips after pips are liars - they cant be making that amount because you've studied and you don't make that, you know as much as they do and they must be lying. But they're in there day after day and their account just grows whilst yours falls.

You will be like a teenager - the traders that make money will freely give you advice but you're stubborn and think that you know best - you take no notice and overtrade your account even though everyone says you are mad to - but you know better. You'll consider following the calls that others make but even then it wont work so you try paying for signals from someone else - they don't work for you either.

You might even approach a 'guru' like Rob Booker or someone on a chat board who promises to make you into a trader(usually for a fee of course). Whether the guru is good or not you wont win because there is no replacement for screen time and you still think you know best.

This step can last ages and ages - in fact in reality talking with other traders as well as personal experience confirms that it can easily last well over a year and more nearer 3 years. This is also the step when you are most likely to give up through sheer frustration.
Around 60% of new traders die out in the first 3 months - they give up and this is good - think about it - if trading was easy we would all be millionaires. another 20% keep going for a year and then in desperation take risks guaranteed to blow their account which of course it does.

What may surprise you is that of the remaining 20% all of them will last around 3 years - and they will think they are safe in the water - but even at 3 years only a further 5-10% will continue and go on to actually make money consistently.

By the way - they are real figures, not just some I have picked out of my head - so when you get to 3 years in the game don't think its plain sailing from there.

I had many people argue with me about these timescales - funny enough none of them have been trading for more that 3 years - if you think you know better then ask on a board for someone who's been trading 5 years and ask them how long it takes to become fully 100% proficient. Sure i guess there will be exceptions to the rule - but i haven't met any yet.

Eventually you do begin to come out of this phase. You've probably committed more time and money than you ever thought you would, lost 2 or 3 loaded accounts and all but given up maybe 3 or 4 times but now its in your blood

One day - I'm a split second moment you will enter stage 3.

Step 3 - The Eureka Moment
Towards the end of stage two you begin to realise that it's not the system that is making the difference. You realise that its actually possible to make money with a simple moving average and nothing else IF you can get your head and money management right You start to read books on the psychology of trading and identify with the characters portrayed in those books and finally comes the eureka moment.

The eureka moment causes a new connection to be made in your brain. You suddenly realise that neither you, nor anyone else can accurately predict what the market will do in the next ten seconds, never mind the next 20 mins.

Because of this revelation you stop taking any notice of what anyone thinks - what this news item will do, and what that event will do to the markets. You become an individual with your own method of trading

You start to work just one system that you mould to your own way of trading, you're starting to get happy and you define your risk threshold.

You start to take every trade that your 'edge' shows has a good probability of winning with. When the trade turns bad you don't get angry or even because you know in your head that as you couldn't possibly predict it it isn't your fault - as soon as you realise that the trade is bad you close it . The next trade or the one after it or the one after that will have higher odds of success because you know your system works.

You stop looking at trading results from a trade-to-trade perspective and start to look at weekly figures knowing that one bad trade does not a poor system make.

You have realised in an instant that the trading game is about one thing - consistency of your 'edge' and your discipline to take all the trades no matter what as you know the probabilities stack in your favour.

You learn about proper money management and leverage - risk of account etc etc - and this time it actually soaks in and you think back to those who advised the same thing a year ago with a smile. You weren't ready then, but you are now. The eureka moment came the moment that you truly accepted that you cannot predict the market.

Step 4 - Conscious Competence
You are making trades whenever your system tells you to. You take losses just as easily as you take wins You now let your winners run to their conclusion fully accepting the risk and knowing that your system makes more money than it looses and when you're on a loser you close it swiftly with little pain to your account

You are now at a point where you break even most of the time - day in day out, you will have weeks where you make 100 pips and weeks where you lose 100 pips - generally you are breaking even and not losing money. You are now conscious of the fact that you are making calls that are generally good and you are getting respect from other traders as you chat the day away. You still have to work at it and think about your trades but as this continues you begin to make more money than you lose consistently.

You'll start the day on a 20 pip win, take a 35 pip loss and have no feelings that you've given those pips back because you know that it will come back again. You will now begin to make consistent pips week in and week out 25 pips one week, 50 the next and so on.
This lasts about 6 months

Step 5 - Unconscious Competence
Now we’re cooking - just like driving a car, every day you get in your seat and trade - you do everything now on an unconscious level. You are running on autopilot. You start to pick the really big trades and getting 200 pips in a day doesn't make you any more excited that getting 1 pips.

You see the newbies in the forum shouting 'go dollar go' as if they are urging on a horse to win in the grand national and you see yourself - but many years ago now.
This is trading utopia - you have mastered your emotions and you are now a trader with a rapidly growing account.

You're a star in the trading chat room and people listen to what you say. You recognise yourself in their questions from about two years ago. You pass on your advice but you know most of it is futile because they're teenagers - some of them will get to where you are - some will do it fast and others will be slower - literally dozens and dozens will never get past stage two, but a few will.

Trading is no longer exciting - in fact it's probably boring you to bits - like everything in life when you get good at it or do it for your job - it gets boring - you're doing your job and that's that.

Finally you grow out of the chat rooms and find a few choice people who you converse with about the markets without being influenced at all.

All the time you are honing your methods to extract the maximum profit from the market without increasing risk. Your method of trading doesn't change - it just gets better - you now have what women call 'intuition'

You can now say with your head held high "I'm a currency trader" but to be honest you don't even bother telling anyone - it's a job like any other.

I hope you've enjoyed reading this journey into a traders mind and that hopefully you've identified with some points in here.

Remember that only 5% will actually make it - but the reason for that isn't ability, its staying power and the ability to change your perceptions and paradigms as new information comes available.

The losers are those who wanted to 'get rich quick' but approached the market and within 6 months put on a pair of blinkers so they couldn't see the obvious - a kind of "this is the way i see it and that's that" scenario - refusing to assimilate new information that changes that perception.

I'm happy to tell you that the reason i started trading was because of the 'get rich quick' mindset. Just that now i see it as 'get rich slow'

If you're thinking about giving up i have one piece of advice for you ....

Ask yourself the question "how many years would you go to college if you knew for a fact that there was a million dollars a year job at the end of it? 

Take care and good trading to you all. – Anonymous
Source: forexfactory

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