IG Markets Guaranteed Stops - BEWARE!

I find that IG Markets' offering of Guaranteed Stops is just so, so dangerous.

So easy to lose money, and really easy to over-leverage.

With a deposit of about SGD4,000, on a normal Stop order, I can only trade about 1 standard lot, whereas with a Guaranteed Stop, I could trade 13! This means that my entire 4K is placed as potential to be lost!

Trade safe people, don't be easily fooled by greed, which IG helps aid you in feeling.

It is far easier to get stopped out when your stop is too close to the market!

See the margin sizes when I toggle between Normal stop and Guaranteed stop!

WOW.

Gamblers unfortunately get easily addicted to these products.

SO BEWARE!

First & Second Berserker Rages of 2020

Another year, another financial blunder.

My first and second berserker rages of 2020 came within a week of each other.

All blamed on the this irrational market.

I feel so stupid and yet knew I could've avoided things had I been a little smarter about it.

The first was due to the airstrike that killed a top Iranian commander. The world knew Iran was going to retaliate and when it did, I think everyone just simply shorted the markets heavily and so did I. However as the bombs fell, the world irrationally decided that the tensions were going to ease soon after and it began to rise. It rose back to pre-tensions level and then continue to break new highs! From there I just basically died and got stopped out.

Lost SGD 6,000.

The second was stupidly because of IG Markets' trading platform. By placing a guaranteed stop, I could engage in much heavier sizes to trade on. And with that I went crazy short on Tesla, on AUDUSD, and S&P. Once again all were correlated and went on irrational rises against markets' expectations. Again got stopped out and lost a ton of bricks. Dammit!

Lost SGD 6,800.

Are things going to get better for me?

I dunno.

By the turn of the lunar new year, my year should be a little better hopefully.

Let's see.

Until then, I have imposed a trading ban on myself till end of the month.

Pui!

Ideas For Businesses I Could Do without Quitting My Dayjob

Found here.

1. Tester or Reviewer
2. Online Seller on Carousell
3. Editorial Services
4. Translator
5. E-commerce Store
6. Survey Taking

Friendly Investment Advice For 2020

After I posted this, look at the amount of negative news that came out.

- Floods in Jakarta
- Fires in Australia
- Assassination of an Iranian top army general by US

Let's see what 2020 brings on the macro front.

Hope I can huat big big!

Financial Resolutions For 2020

Was writing my resolutions for 2020 last night and two of them are financially related.

1) Earn >SGD10K On My Saxo Investment Account
I need to have a better and more systematic strategy in place if I am to achieve this in 2020. No more gambling!

2) Achieve Passive Income Of At Least $700/mth
This can be done as long the world economy and the stock markets do not get too volatile.

Let's see if I can achieve them!

There was even a sixth resolution which I decided to omit in the end since I could only list the top five anyway. It was exactly financially related but it was to Do One Thing Significant With My Life. The more I've been reading up about my feng shui this year, the more I think this is the year I need to take a big step in the business direction to make myself huat to the next level!

But what is this big step that won;t be too risky for me to give up everything?!

It is time to start strategizing! I only have 364 days of huat-ness remaining!