ESBI

Robert T Kiyosaki mentioned in his book "Rich Dad Poor Dad" about ESBI. ESBI stand for employee, self-employed, business and investment. Each state a level of finance independence.

Yes currently, I am an employee, but I am doing my own business. But it basics I am self-employed. Why? Yes I have gone past the stage, where I know I can give my own pay increment and bonus. In fact, I beleive now I have the ability in doing forex, to have a stable income, and a pay that is more than my pay as an employee, and the time I take to generate that income is far less than that of an employee. But I am considered as a self employed.

If I stop trading - money stop, if I am sick, I cannot trade, money stop. I therefore need a business, a business to carry on trading as usual even when I am not trading.

As such, I set 2 goals this quarter. I hope to set up a research team, partnering with at least 3 to 5 partners. It will be mutual and we will not only pull in the brain, the money, and also a long term objective of growing and teaching the next generation. The bible say, a 3-fold cord is not easy broken.

Indeed, I pray and pray that God bless me as I share my ideas with people, that God will bring me into path of people, who has want to do forex and has the inclination for it. I pray that better so, God will bless me with Christian brothers and sisters.

As we set up this team, or called it a investment club, let this business come alive and let it has its own vision. Let the entity grow and let the profit be use for a higher calling. Even when I am gone, let the business continue and let it pass on to the next generation. Well, I pray that the business will be able to fulfil the vision God showed me till it come to pass.

28 Sep 2007

Good for me as I may still holding on to the long position at 2.0165.

I will continue to hold, expecting to take a good ride up the C-wave to first 2.0300 then 2.0400.

I will also be placing another long at 2.0200, in expectation of a dip and reversal up the EMA21 using the 1 hour chart.

Position:
Long 2.0165 (paper profit)

Sep 07 Monthly Report

My month will end on every thrid Friday of the month. This follows the monthly expiration date for stocks options.

The month of September was a take of more than 500 pips. Month to month growth on capital was about 30%.

This was better that my expection of 300 pips and 20%.

With the blessings from God, and as He led, I have spoken to Edward to join my team. I have not speak to him in details, only an invitation. He has been in forex and what more - a christian brother. Of course, being a Christian is not a criteria for the team, but at least, when I pray and give thank and glory to God, the team mate will not feel out of place.

26 Sep 2007

Caught the reversal with a long at 2.0165.

Will contiune to hold to this position, expecting a worst off US economy.

Monday dip was a good sign for a formation of a B-wave. The C-wave should start soon and all I will do is to hold on.

Spport is at 2.0050. And the first TP point is at 2.0320. If price breakout of either, I will expect a big contiunation in the direction respectively.

Current paper profits.

25 Sep 2007

I still favour long for GBP.

I believe that will be a short retracement to the support line at 2.0124, before a reversal.

Using the 1 hour chart, and the EMA200 as a support guide, I will place a long at 2.0165.

20 Sep 2007

I have abandon my short at 2.0270 and close the trade with profit.

I have placed a long at 1.9957. Set the TP at 2.0066, the second Fib resistance line, which is also the mid line below EMA200 and EMA100 (from the 1hour chart)

18 Sep 2007

Well the paper loss that I have been holding has turned into big profits.

I just close the position at 2.0025 at 1.9950.

I am still holding to the one at 2.0275, setting a TP at 1.9846.

Q4 2007 Plans

God bless. The techniques that I began out since May works. I have shown that it bring a consistence income of more than 300 pips per month.

Though that was the initial target, God bless, the actual results was about more than 500 pips average over the month of June, July and August.

I am trying out the same strategy, but maximizing the capital. The capital used is comparatively small, as I am only willing to pour in the big capital after this year.

I have 2 plans.
One is to set up a research team with at least one to 3 persons. This means to conduct more teaching to more people who wants to know this trade and recuit them. This means to draft out a good presentation and teaching material.

Two is to set up a fund. Basically bring in the capital from friend and relative. This means to draft out the legal agreement and the fees.

12 and 13 Sep 2007

I have currently two open positions:

Both short at 2.0275 and 2.0025.

I am waiting for the retracement.

10 Sep 07

I took a 60 pips gain last Friday, expecting a rebound, using the 1 hour chart, from the EMA200. I did not wait for 2030 news (US Non farm emplyment).

Currently I have only a open position - a short at 2.0025.

I have placed another short at 2.0273, expecting the price to punch through EMA55 and head towards EMA100 and EMA200, before a rebound. I am using a 1 hour chart.

Of course, it the opposite, a breakthrough norht is at 2.0330.

Symmary of position:
Short 2.0025 (paper loss)

7 Sep 2007

I have close my long position at 2.0220, instead of the TP at 2.0330.

Currently I have only a short position at 2.0025.