Chat with SGX CEO: Will Bitcoin Get Listed on SGX?

Last week, one of our trainers, Jun Hao, had a interesting time listening to Mr Loh Boon Chye, CEO of SGX (Singapore Exchange Limited). He spoke about how SGX functions in Singapore and what role it plays in the Singapore’s trading market. It was interesting to note that SGX not just list our own company from singapore but 30% in fact comes from international company from all over the world.

“Before he ended the presentation, we had a discussion on the future of the global and Singapore’s economy. I asked for his take on Bitcoin as Cryptocurrency was featured in one of his slides under “Future of SGX” together with artificial intelligence and blockchain technology.”

He said that SGX might potentially become a clearing house for Cryptocurrencies simply because the market capitalization of Bitcoin increased 5 folds from $40 billion to $200 billion this year. However, he also mentioned that due to the volatility in prices for bitcoin, it would take awhile before it will get listed on the SGX exchange.

However, we are seeing more and more countries taking on bitcoin and other cryptocurrencies into its exchanges and i believe it is a matter of time before Singapore would do the same.

Japan’s national government was one of the first to take action and their exchanges were required to provide annual audits and are subjected to “know your customer” anti-money laundering regulations. By regulating the currency, Japan has technically officially recognised bitcoin as a legal method of payment. That would definitely happen for Singapore once the Singapore Government is able to find a way to finally regulate these cryptocurrencies.

A listing on SGX will definitely give Bitcoin and crptocurrencies more “mainstream” status, and I think it is only a matter of time before that happens. Until then, stay tuned! 😀

[New Video] How to Profit from the Upcoming Segwit2x in Bitcoin

In mid November, there is a major event called Segwit2x for Bitcoin which will present a rare once-off opportunity to profit from the cryptocurrency market, especially if you are still on the sidelines and have missed out on the big run in cryptocurrencies in the past few months.

In this video, our crypto trainer, Jun Hao, has done a detailed analysis on past major events to identify which coins have the biggest potential for the largest gains, and where you should be putting your money before this major event.

In addition, we are in the midst of building one of the largest communities on forex and cryptocurrencies, and we would like to invite you to join our free FB discussion group for more daily updates and trading opportunities: https://www.facebook.com/groups/livetradingnetwork/

Guest Speaker at Show FX Asia Conference 2017 – Thank You for the Support!

About 2 weeks ago, I was invited to speak at the Show FX Asia Conference 2017, and it was great fun sharing to a full-house crowd about my 15-minute forex trading strategies, as well as the latest updates on the market.

In recent years, the markets have been evolving quickly, and strategies need to be adaptive and innovative to continue to reap profits from the market. The key is in the continuous research and improvement. Old strategies that worked 5-10 years ago no longer work now, and many traders do not realise this.

That is why I have never stopped reading and learning. And neither should you. Cheers! 😀

Market Analysis & Follow-up: Gold, USD/CHF, Bitcoin, S&P 500, etc

Recently, there has been quite some movement in the markets on various asset classes, and we have been following them closely.

In my last “Trading Foundation Workshop”, I gave 2 live calls, namely to go long on the USD/CHF, and short on Gold. Here are some charts:

A nice double-bottom breakout pullback shows good odds of a reversal

Turning down after hitting strong resistance

 

In my workshop last night for my TMP graduates, our analysis revealed that there was much strength in EUR & GBP, while there was weakness in CAD, CHF, JPY, and especially AUD and NZD. This means that if you follow the trend, the odds are good for going long on most EUR and GBP crosses.

Break of trendline followed by break of resistance levels

 

Last Saturday, during my talk at the “ShowFX Asia Conference” at MBS, I also shared some analysis on Bitcoin and its direction, and why I think it will continue to head up.

Glad to share the stage with fellow speaker Stuart McPhee, who is a famous Australian trainer who used to train for OANDA. #showfxasia

A post shared by Spencer Li 🇸🇬 Synapse Trading (@iamrecneps) on

Lastly, for the S&P 500, many people have been calling for a big crash based on the “10-year October cycle”, but the price has continued to defy gravity and kept on drifting up. However, based on chart, I think it will take one of these 2 possible paths. Either way, the reward vs. risk is not ideal for taking long-term long positions now.

Note: the red bar denotes the month of October

I hope you have managed to catch some of these exciting moves in the market, and till we meet again, trade safe, and remember to follow all the cardinal rules of trading.

Cheers!

Invited to Speak at ShowFX Asia – 15 Minute Trading Strategies

I have been invited to speak at ShowFx Asia on 21 October at 10.15am, as the opening speaker, and I will be speaking on “Trading for a Living with 15 Minutes a Day”.

I will be sharing my journey of how I started with a small trading account and grew it into a multi-million dollar portfolio of stocks, REITs, properties, etc.

I will also be sharing some simple strategies which anyone can use to make a side income with 15 minutes a day.

See you all there!