WEALTH ACADEMY - CONGRATULATIONS ON BATCH 13

Congratulations to the folks on the right of the photo who completed Batch 13 of Wealth Academy on 18 - 21 Sep 2008.

As I told my fellow coaches, there is always a reason for everything. I am not going to AKLTG to coach for money. In fact, I came out with my own money to be a coach. But why did I spend my weekend there at the expense of many things which I could otherwise do? I sincerely believe that as I meet people from different walks of life, it will inspire me and sometimes I do learn something from the others by understanding their questions, and talking to them. So, there are values I found in engaging conversation with different people.

Thanks Adam for his thoughtful remark at the closing ceremony by framing me as the "Best Options Trader in Singapore". This is despite the fact that my readers jolly well know that AKLTG offers an options trading program and there is a perceived competition between AKLTG's options trading program and the options trading program along which I tag. He does not mind doing the introduction. To me, Adam has inspired my life since I joined Wealth Academy in May this year. I learned so much from him in terms of how to be empowered by doing just simple things every single day.

Conrad? Well, there is nothing more than I can say. This guy rocks and he is what I call one of the best day-traders in the world. Who can compare with him on his knowledge in candlestick patterns? I can't because I am a beginner in candlestick analysis. Actually, I don't need to use candlesticks so much in my options trading as I am primarily a premium collector. However, I found the knowledge in candlesticks a must in my forex trading because there is no premium collection strategy but purely directional play. So, it becomes a MUST for me to learn it.

Thanks Terry for doing a fantastic job as the Program Director. He is an amazing chap with a lot of energy, and he led the team to provide the participants, Adam and Conrad with tremendous support. Of course, to my fellow coaches, you guys are great because I learned something from you too - Kavin, Michelle, Serene, Joshua, Vincent, Bernard, Vivian, Allan, Ruben, Cheryl, Melvyn, Lawrence, Justin, Alicia, Mark (I hope I did not miss out anyone ...)

That's why I keep going back to AKLTG, a place to allow me to be energized and empowered.

Finally, I would like to thank Arthur, one of the participants for providing the picture so that my blog can now be updated with a graduation photo!

So, if you wanna come back to be a coach in WA 14, it's going to be fun.

Full-time Trader? Does a full-time trader need to trade full time?

Come across the following questions from Conrad's Board which was raised by an aspiring forex trader. This guy asked

"I have some doubts whether to be a full-time Forex trader after 1 year.

i) My friends told me that it takes as much as S$100k to trade in Forex market.
ii) There is no guarantee to make money in Forex. Otherwise, people will have quitted and traded full-time at home.
iii) Is it a must to work a trading firm to gain experience?

Kindly advise a lost soul like me.

Thank you."

How will you respond if you were asked to answer these questions?

Ans: Yes, your friends are correct in that you need to take as much as $100k to trade in forex market. But where is the leverage? Do you understand the concept of leverage which can be a double-edged sword. It can work for you and against you. So, go figure out what leverage means in forex market and how you should apply leverage correctly.

There is no crystal ball out there. I don't even know what to eat tonight. Let alone what I am doing tomorrow. However, does a full-time trader really need to trade full-time? It has always been a FAQ and a $64K question. I won't sacrifice a 9-5 job because I will trade from 10-4 at night. It is simply switching the work clock. It does not make sense. While a lot of folks have painted a 24x5 feature in forex market, do understand that there are certain hours where the market moves fast for you to make money. I place my forex trades only at 8AM when Tokyo is open, 2PM when Frankfurt is open and 3PM when London is open. So, I don't need to trade forex full time as I have better things to fill my non-forex trading hours. Attend Wealth Academy to understand the concept of primary source income and multiple stream of income. It will blow your mind.

The last question is whether it is a must to work in a trading firm to gain experience. Straight answer is "no". One can gain experience by doing the following:

1. Learn the skill by making mistakes in the martket.
2. Get education to learn the skill, paper trade to gain experience and increase confidence level.

At the end of the day, there are too many folks out there who want to take advantage of the quick-to-be-rich scheme. Here is another classic example!

WEALTH ACADEMY - CONGRATULATIONS ON BATCH 12

After completing WA Batch 11 in May 2008, I returned to WA 12 as a coach on a part-time basis. What I learnt as a coach is the team spirit. The coaches aren't paid for spending time in AKLTG. However, it is the passion that drove every coach to do more than 100% to make sure that the participants benefit from the program.

For those who are WA graduates, I encourage you to seriously consider to come back as a coach. You may not realise the fun in the coach room. There were lots of happenings and with Adam and Conrad in the room, there was fun and laugh I can say.

I always believe a project cannot be accomplished if the team members don't have chemistry. However, this was not the case for this team. Some of us were already friends from POE and some of us were from Conrad's Wealth Academy Trader - like Justin, Sean and Kavin.

The only regret I have is that I missed the happening on Friday and Saturday whereby from word of mouth, our Mr. Terry Seah did a pretty good job in the game we play in WA. As by popularity, Mr. Terry Seah (our Ah XXXX) will be the next Program Director for WA 13, who will be assisted by Kavin Chia - the Assistant PD.

Enjoy!