My Application Results for Astrea IV Bonds

The application results for Astrea IV bonds is out! Good news for those who have applied. Even though the bond is 7.4 times over-subscribed, all valid applicants manage to get some or even full allocations. Those who applied $4000 or less would receive full allocations.

I also tried my luck in getting some even though I always waste $2 kopi money when it comes to applying IPOs. I didn't forsee I would get full allocations so I tried applying $11000. I expected myself to get at most $2000. I thought it could be a balloting process. If I applied $11k, I might join the second group where the competition would be lesser.

Much to my surprise, I got more than I expected. Thanks Temasek!

My Preferential Offering Results for Frasers Logistics And Industrial Trust

The result is finally out! I bought 5000 shares of Frasers Logistics and Industrial Trust last month and was entitled to 500 shares. I applied for 9500 excess shares. So how many shares did I manage to get?

When I logged in to my CDP account, I saw a total of 6500 shares. I have received 1000 excess shares. My initial purchase price was $1.04. My average purchase price was brought down slightly to $1.025. The closing price on Friday was $1.04. Let's see how the share price will fare on Monday. The European properties acquisition was supposed to be yield accretive and non-dilutive at the PO price of $0.967. With that said, market could be irrational. Just look at recent drop in Netlink Trust's share price. Ceo had to go in support. Good luck to those who have also applied! Hope everyone can get more excess shares! Huat ar!

My Forex Trading Journey Reboot

Why Forex

It has been a while since I last blogged about Forex Trading. What attracts me to Forex Trading:

1) It is as easy to go short on a currency pair as it is to go long, unlike stock.

2) It is possible to focus just on a few major currency pairs.

3) The Forex market is still open at night for those of us staying in Asia. US market has just opened. I can take positions before going to bed.

4)  No direct correlation to the stock market. Even if stock market is going down, it is still possible to make money from Forex trading. I view it as a form of diversification. 

Why I Abandoned My Previous System

I have abandoned my previous method of trading Forex as the way I traded requires me to sit in front of the computer screen and wait for the potential setup to appear. Below screenshot is a glimpse of how I would trade previously.

On a downtrend: Go short when both the yellow bar and red wave appears after a pullback.

Moving Forward...

The ideal trading system which I have in mind is some form of trigger system that could alert me when potential trade setup takes place. The alerts could be sent via mobile phone or computer audio. Upon a setup trigger, I would then head over to my computer screen and decide if I want to take the trade or not.

I recently came across an MT4 indicator that has the capability to achieve this. Unfortunately, it is not free. The methodology is a trend following system which means we will only follow the buy signals when the currency pair is on an uptrend, and vice versa. The alert signals would provide clear entry, stop loss and take profit prices. I am currently in the midst of testing the accuracy and whether the system would be profitable in the long run. I would provide more updates and do a review of the system if it turns out to be profitable through my demo testing. As always, Demo Trade First! 

P.S - Advertisers/Marketeers, please don't advertise your products/services on my blog without my permission. I will delete your posts.