Forex for Dummies
Yeap, that's how my Saturday and Sunday were spent. $4300 worth of classes coming up as I prepare to emulate George Soros' success in forex trading. Two days of intensive coaching and more so on the technical analyses. Fundamentals aren't very mportant here, apparently as 8 of us tried to tame some rather technical software. It was tough trying to digest all that in 2 days...
Not to mention that my prehistoric laptop is not the easiest to work with. With that many lines criss-crossing my puny screen, I had to tear. So I forked out what isnt already in the bank yet (that's the power of credit)and plonked it down on a Dell. I wanted the cheap Inspirion 6400. But RJ convinced me otherwise so I got this instead:
It's a little lighter and outperforms the Inspirion, he said. Well, I had to trust him. He's the computer geek afterall. My only bugbear is its screen size - a good one inch plus smaller than the 6400. Plus it doesnt look very pretty, does it? Very utilitarian. It is a business laptop so it must show, I guess. At least it is rugged enough.
Then the next day, Dell decided to bump up the RAM to 2gb for free. Which is what I would have preferred to the free increase in harddisk storage. Bloody!
That's a hefty $5k+ investment on this forex business already. And I havent even started trading yet! Worse, the propietary software that shows you what the banks are doing on the forex market - it doesn't come free. That's available if a trader does more than 10 lots or 100 mini-lots in a month. Sounds expensive when they went on about how US$250 is enough for a trade. Hmmm...x10 = US$2500.
OUCH!
That in plain English, is S$7500 by the way. I am going to have to put aside $5000 before I start trading, I guess. Along the way, I am going to win some and for sure, I will lose quite a fair bit since I am only just starting out on this. It's going to be tight for the next 2 years as I max out my monthly salaries with the usual expenses, savings plan (incl. saving for my trading) and fees.
It looks tough already...sigh.
P.S. It's Tuesday already and I have yet to hear from Stand Chart about the position. Guess there's a God afterall. He's decided to make it easier for me, I guess.
Not to mention that my prehistoric laptop is not the easiest to work with. With that many lines criss-crossing my puny screen, I had to tear. So I forked out what isnt already in the bank yet (that's the power of credit)and plonked it down on a Dell. I wanted the cheap Inspirion 6400. But RJ convinced me otherwise so I got this instead:
It's a little lighter and outperforms the Inspirion, he said. Well, I had to trust him. He's the computer geek afterall. My only bugbear is its screen size - a good one inch plus smaller than the 6400. Plus it doesnt look very pretty, does it? Very utilitarian. It is a business laptop so it must show, I guess. At least it is rugged enough.
Then the next day, Dell decided to bump up the RAM to 2gb for free. Which is what I would have preferred to the free increase in harddisk storage. Bloody!
That's a hefty $5k+ investment on this forex business already. And I havent even started trading yet! Worse, the propietary software that shows you what the banks are doing on the forex market - it doesn't come free. That's available if a trader does more than 10 lots or 100 mini-lots in a month. Sounds expensive when they went on about how US$250 is enough for a trade. Hmmm...x10 = US$2500.
OUCH!
That in plain English, is S$7500 by the way. I am going to have to put aside $5000 before I start trading, I guess. Along the way, I am going to win some and for sure, I will lose quite a fair bit since I am only just starting out on this. It's going to be tight for the next 2 years as I max out my monthly salaries with the usual expenses, savings plan (incl. saving for my trading) and fees.
It looks tough already...sigh.
P.S. It's Tuesday already and I have yet to hear from Stand Chart about the position. Guess there's a God afterall. He's decided to make it easier for me, I guess.
posted by Ming at 11:52 PM
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