mysii: Self-Made TaiTai wanna-be

New Goals for 2007

2007-04-02T20:11:00.000+08:00

Okay, my post is almost 3 months late.... But I am stuck in the salon for the 3rd time in 10 days, I've ran out of magazines to read.

Be a successful options trader with a hit rate of 50-70%.
Be a successful financial planner
Be able to put down a 20% deposit to buy a new car by year-end, about Sept, and maybe pay for my car in cash!!
Be able to save at least a 5-figure balance in each of my bank accounts.
Be rid of all credit card debts by this June. (actually, I've cleared most except for my yoga membership instalments.)
Be able to save at least 5% deposit downpayment for a private apartment, and save another 15% next year. My goal: to be able to put down 20% deposit for my own place.

It is always nice to have goals... this time, I am bent sure on making sure I achieve them.

Review of my insurance policies...

2006-12-11T20:29:00.000+08:00

I have a new financial adviser who's taken over from the slacker who's not followed up on me since I bought my endowment policy some 4-5 years ago. I am so glad that I met her.

After going through all the policies that I have, her opinion is that I have too much coverage in certain aspects and insufficient on others. Guess it is always good to have a second opinion on how my portfolio should be managed.

It has been a struggle for me, for the last 3-4 years, to keep up with my insurance premiums. I do wonder why I make myself suffer so much. More than 25% of my pay actually goes into paying for my premiums, I do hope that with this review, I can lessen some of these payments or channel my funds to areas that will make my money work harder for me.

This review is also timely, given that I am in the midst of doing my health insurance paper this coming Wednesday. Let's see if this industry will be suitable for me.

Foray into Financial Planning

2006-11-10T23:51:00.000+08:00

My last post has strangely gone missing. But here goes again.

I took the M9 Life Insurance and Investment Linked Policies last Friday, and passed on my first attempt. How cool is that? I will, soon be taking the other 2 mandatory papers before I can embark on financial planning...

As I mentioned before, I am doing this more for self-interest and fulfilment. So friends, please don't abandon me. It has never been me to push anything to anyone. I have always wanted to learn more so that I can better understand my own financial needs and goals that I would like to achieve, even more so now as I am looking ahead into the future, planning not only for myself now. It is important that I am able to understand my own needs rather than leave it to the hands of others, since no one will know my needs best except myself.

Financial planning is also part of the process towards financial freedom. All of these different things that I am pulling together will work hand in hand to help me achieve my goals and financial freedom sooner.

Till then...

Apologises

2006-10-25T00:53:00.000+08:00

It's been rough for me, for quite a period of time. I realise you can't bring your emotions into your trades and your work and yet be able to do anything well. Unfortunately, my pocket is the one hurting the most right now.

My apologises to my friends, who have been trying to help me through this period by dishing me good-willed advice.

Thou shall not listen to friends after entering trade...

2006-10-23T23:48:00.000+08:00

I entered my first trade in as long as 5 weeks and I thought I did a good trade until it started retracing on the second day after I took the trade. Hence, I sought the advice of a friend. Guess I should not have listened to him. I made a loss, exiting my trade that day. Today, the stock has made a new high. Painful. Could have made a gain of 200+% but now ended up with a loss.

I shall not listen to friends after I've entered a trade, I shall be patient and not be a kancheong spider... While the advice was given out of goodwill, thanks but no thanks... :(

Return from MIA

2006-10-08T22:00:00.000+08:00

I was travelling for almost 2 weeks in the US. Couldn't take any trades at all, was busy seeing clients when it was time to trade.

Well, I am glad to be home, more posts on my trades coming up!!

A No-Trade Week?

2006-09-16T02:37:00.000+08:00

This week's settlement week, hence market hasn't been actually moving in any particular direction. FOMC next week, means, no trades as well for a couple of days. That probably explains all the sideway movements.

Oh yes, don't get me wrong, I love market moves, but please, towkay, 5cents move on your sg stock, isn't going to knock my knickers off. I think I earned more from one options trade than you have on that stock that you have been holding for eons.

Smart Traders Preview Today

2006-09-15T00:11:00.000+08:00

I finally met someone who has been following my blog at the Smart Traders Preview today.

Victor, a pleasure meeting you today. Good to know that you are doing your research, although your research on Wealth Mentors led you to my blog. I do hope to see you at Mirriam's program once you are ready for it. In the meantime, take your time and concentrate on your studies.

Cheers.

OEX Strike 3

2006-09-15T00:06:00.000+08:00

Did another OEX trade today. Made $100 in the first 20 mins, but didn't pull out. Guess what happened? I ended up losing $125.90 incl commissions. Strike 3, and I am staying out of the OEX for a long while. Need to fill the hole in my account that is getting bigger.

Alan, I am waiting for you to help me take revenge on the OEX. OEX is biting more off me than I can bite off it now.

Maybe my personality is not suited to using the OEX intra-day strategy. Just that I had to learn the painful way by losing my money. Ouch.

Updates of Ms SMTT

2006-09-11T23:59:00.000+08:00

I realised it has been quite awhile since I last posted.

I've not traded for over a week, just not spotting any exciting trades that will bring my account balance up. Seems that I am not the only person who's experiencing this.

Nonetheless, this is a temporary situation and market will start looking up again for us, small time retail traders.

I've been very busy with work as well these couple of days, planning a working trip to the US. Looks like no trade again for a period time. I won't be able to trade since I will be out on my customer calls when market opens. You simply can't have a day job and trade if you are working in the US. Tough luck, isn't it?

I am still looking forward to trading full-time by next year. *crosses fingers* And I will be doing alot of homework on my trades to make sure I get there.

For my dear smtt-wannabes, struggling with their trades, take heart. Things will look up.

Cheers,
Neuve

Why I do not offer stock advice

2006-09-02T20:37:00.000+08:00

A couple of friends have been reading my blog and yes, I think I've sparked an interest in options trading in them. And yes, some are asking me how I do my trades.

"Tell me how you place your trades, what strategies are you using, what are your parameters?" "Just tell me what you are buying and I follow suit"

My answer to all of the above, "Sorry, you have to learn from the master herself, not from me."

I have a social responsbility to help you safeguard your money, I don't want you, my friend to start trading without knowing the mechanics behind it. Don't follow what I do with my trades, it's all about timing. Just as I know when I should get in, I also know when to pull out. It's time dependent, and you could already miss the boat once you hear from me.

So please, don't ask me to teach you the strategies, my friend. I don't want to lose your friendship just because I taught you the wrong thing and you lose money as a result. I am not selfish with the knowledge I acquired, I am just careful about the advice I dispense.

Trading with the OEX

2006-09-02T16:40:00.000+08:00

I did my second trade on the OEX. Heart-thumping experience. Chains move so much faster than what I am used to, always have problems closing out my positions.

While I didn't make any profits on both my OEX trades, at least I know I tried. Nonetheless, OEX, I will be back again! When conditions are right, of course.

Network Marketing - Downlines or Products

2006-08-28T22:14:00.000+08:00

That session on network marketing or multi-level-marketing was a good topic for debate and discussion with a friend.

I realised that through that information session on mlms, most companies seem to only tell you about the potential amount of money that you can make from your downlines. The questions that were asked, were also very typical. "How much money can I make?", "Is there a model on which I can calculate my potential income?".

My advice : Don't count your chickens before they hatch.

The focus was mainly on downlines and not the product itself. But why??? If the products are so good, you don't even need downlines to do the selling or recruiting more downlines. That should not be the focus of the business. The business should centre around the product itself. And that is what I want to do, not recruit generals that recruits soldiers and form an amry that does no selling.

How is the business sustainable then?

Just my 2 cents' worth.

Network Marketing - My cup of tea?

2006-08-25T23:27:00.000+08:00

A friend from Sydney called today, out of the blues really, asking me if I were free this evening to meet someone, some people.. turns out he wanted me to find out more about this network marketing company in which he's involved in now. I thought, why not? Nothing to lose, just check it out.

I must say, the session did open my eyes abit to the world of MLMs, but still, I don't think I have heard enough or learnt enough to know if this is the right thing for me. Of course there are attractive pay plans, but is this the right thing for me?

Where do I go from here? Am I looking at too many things at the same time that I am losing my focus? Too many things going on at the same time, could start to hinder my journey towards becoming a self-made taitai.

Market Undecided?

2006-08-25T02:39:00.000+08:00

I've been in a trade for almost 4 days, and it is still undecided which direction it is going to take. Market is also undecided, not enough movement either ways. Time to sleep....

How much to save now to retire later?

2006-08-23T00:12:00.000+08:00

Since I am very much Singaporean, I will use the SG context to analyse this...

Parameters used to generate this will come later....

My Retirement Goal Assessment from http://www.cpf.gov.sg/

To achieve your Retirement Goal at age of 55
You will need a retirement fund (in future dollars) of
$1,352,294

Your total projected assets in future dollars (excluding residential property, if any)
$ 1,211,848

In Cash
$ 314,720 (26 % of total asset)

In CPF (excluding Medisave account balance)
$ 897,128 (74 % of total asset)

Less: Outstanding liabilities at retirement age is

$ (0)

Your NET projected assets (in future dollars) would be

$ 1,211,848
___________

Therefore, you would have a shortfall in your retirement fund of

$ ( 140,446 )
____________

Profile of a SMTT Smart Trader candidate

2006-08-20T19:26:00.000+08:00

Female
Likely to be in 20s to early 30s
No experience in trading in any market, whether stocks, commodities, forex etc..
Possesses a day job; but most likely is unhappy with current job
Probably has 3-4 insurance, investment polices because her friend, who's from the financial service sector tells her that she needs to save for her retirement
Realises that the investment returns are approx 3-5% in current market situations
Realises she can only cash out at the ripe old age of 65 and even then, not the entire lump sum
Realises the insurance, retirement funds may not be insufficient for her golden years
Wants to attained her preferred lifestyle now, not when she retires.
Takes positive action now! to safeguard her financial freedom.

Sounds familiar, even to the men?

Trading Successes for Earnings Annoucements (Options Trading)

2006-08-20T17:58:00.000+08:00

I did 2 trades on earnings annoucements, and thanks once again, Ben for the wonderful software.

MFLX - +82%
BKS - +15%

Looking forward to more successful trades, and yes, I am getting closer to becoming an smtt.

Trading Scan Software Hero

2006-08-20T17:48:00.000+08:00

Hi Ben,

Thanks for taking time to write the trade alert scans, they are a god-send. I don't have to spend my weekends, looking 20,30,40,50 stocks to manually do my calculations on for the earnings strategy. Which also means, SIM37 also doesn't stay home and does his calculations. We have more time together during our weekends now!

And yes, I've taken a few earnings trades, both live and on paper. And I am glad to say, I've made +82% on one of them, while the other made only $60. But profit nonetheless!

Thanks once again!

Regards,
Deneuve @ mysii

Trading Smart using options

2006-08-13T18:27:00.000+08:00

I have always left my money with financial advisers, consultants to invest in various financial products, eg. investment, equity funds, endowments, insurance policies. However, when my quarterly statement arrives, I am appalled by how much my money is working for me!

In my last few statements, I am making only a miserly 3-4% on my investment capital! Mind you, the investments only mature in 20+ years, and even then, with such low returns, I'm hardly keeping up with inflation.

What can I do then??

I attended the Smart Traders program (Singapore) in Apr 2006, where I received a 4-day training seminar, learning how to trade with options. The 4-days seminar conducted by Mirriam MacWilliams, was content-rich and she made it so easy for someone like myself who has close to no knowledge on how the stock market works.

Since then, I've paper traded for close to 3 months before doing my first live trade. And I made 82% profits on my 2nd trade within 2 days! Can you believe that?! If I can do it, I think anyone can get similar results as well!

If you are interested, please check out www.wealth-mentors.com for more details. I know that my investment towards my education to financial freedom is well worth it.

Welcome to the Self Made Tai Tai Blog

2006-08-13T03:52:00.000+08:00

What is a "Self Made Tai Tai" alias SMTT? Founding member,Joanne, Ms NN-Smiler @ Gwen, and I, are aspiring taitai-wannabes. But we are not intending to be your typical taitais spending their husbands’ money. We want to be “self-made taitais”, earning our own keep.

In our efforts towards smtt status, I am documenting my chronicles to smtt-dom, things I am doing towards my financial freedom. This includes certain options trades that I have done, any internet marketing strategies that I am testing or adopting, business ideas.

I am in the process of putting together my web site at www.selfmadetaitai.com. Until it is ready, do hang around my blog and check back for new ideas that you can adopt as well.

Do feel free to leave your comments or interesting stuff so that we can all benefit! We welcome anyone who wants to join our community.

Cheers to all smtt aspirants!