Fun and exciting events to take a break from trading :D

The Top 5 Hobbies of Millionaires & Billionaires Around the World

Recently, I came across an interesting report by Wealth-X, which conducts research about the ultra-wealthy. In this report, they revealed the hobbies, interest and passions of the world’s richest people, and some are actually very different from what we think them to be.

The top 5 hobbies are as follows:

1. Philanthropy

It’s surprising that philanthropy features top in the list of hobbies of billionaires. While giving by the rich is often ridiculed by others (“Probably giving because they feel bad”), giving is a financial discipline that keeps the rich rich, and the not-so-rich to be on the right path to success.

Some ways to give your money:

Give regularly to a cause you believe in.

There are some people who frown upon giving to the poor just because they are poor, or perhaps you don’t have a very good perception toward charity. If that’s the case, find a cause that you believe in, and give regularly to it. Some causes that are worth giving to include humanitarian aid, sponsoring budding artists, supporting the elderly in society, giving to children’s education (or even a partial scholarship).

 

Giving is good for the heart.

The act of giving brings a healthy sense of awareness of where your finances come from; the more you serve and give, the more likely it is that people treat you with respect and have a positive attitude towards you, and your business grows.

Give physical gifts instead of financial gifts.

Some charities allow people to give physical goods instead of money. Doing your research, getting the right contacts, and finding a cause you believe in (and a sustainable one too!) requires patience and some hard work on your part, but it’s a worthy exercise. Although I personally give regularly to several charities, I do not like to publicise it.

 

2. Travel

Rich people travel because… simply because they can afford it. If you do have the spare cash, it makes sense to start travelling while you are on your way to financial success. This keeps you motivated, and you can always upgrade your holidays when your financial stability improves.

But the real challenge for most people is not just the money, but also the time. Given the nature of my job (trading), I have become the go-to person whenever any of my friends want to travel, and over the past few years I have travelled to 50+ countries while still making passive income along the way.

 

Christmas tree + Cape Town Flyer + National Geographic photo frame 😄🇿🇦🎄 #Christmas #southafrica #capetown

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

 

3. Art

Art is something that really enriches the soul, and adds flavour to life. And there is a wide range of selection to choose from, ranging from a few thousand to rare pieces that go into millions.

 

Personally, I have taken an interest in this after hunting for some pieces for my new house.

4. Fashion

I’m not much into the fashion scene, but the ultra-rich truly enjoy obtaining unique pieces of clothing.

Bespoke, boutique, and customized clothing are the rage for the ultra-rich.

While I don’t really splurge on costly apparel, I do recommend spending good money on key essentials, like a pair of decent dress shoes for men, or any other piece of clothing that you find to be something you want to pull out once in a while.

I also find that it’s a waste of money to spend on cheap clothing; it’s far more cost-effective to buy quality, reasonably priced products that can last you 5-10 years, than to buy-and-throw most of your wardrobe.

That said, I do enjoy the occasional indulgence, from quality brands like Mont Blanc, Paul Smith, AP, etc 😀

 

5. Politics

When people mention the word “rich” and “politics” together, Donald Trump is the first thing that comes to mind. Other people like Henry Ross Perot, Mitt Romney and Ronald Lauder are also rich people who forayed into the political scene, but with limited success.

 

What are your hobbies?

At end of the day, your hobbies and passion are activities that bring additional job and add colour to your life, so pick something that is fun, meaningful, and something within your means. (Not all hobbies have to be ridiculously expensive.)

On a personal note, my hobbies include hitting a gym (with my trainer), tennis (with my coach), yoga (private noob level class), reading (2-3 books a week), and not forgetting trading (15 mins a day). Oh, and travelling as well. I aim for 2-3 new countries each year. 😀

P.S. If you would like to pick up a useful hobby/skill which can provide you passive income of up to 10% returns a month (verified), do drop by for my next workshop.

Click here to register: http://bit.ly/2oXJYIL

Recent Travel Highlights: Dubai, South Africa, Lesotho – Over 3,000km by Road!

Last month, I embarked on a 2-week trip to Dubai, South Africa and Lesotho, and  it was truly a unique experience, especially driving over 3000km in 2 weeks, trying out the shark-cage diving, riding an ostrich, and doing a self-drive safari.

And the best part was that by continuing to trade 15 minutes a day, I managed to make a tidy 5-figure profit during these 2 weeks of travelling, which was more than sufficient to cover the cost of the whole trip! 😀

Here are some photos from the trip:

 

Here is the full photo album for this trip: https://www.facebook.com/iamrecneps/media_set?set=a.10154888317308430.1073741843.530303429

To see more travel photos from my previous trips, you can visit this photo album.

Good luck, and see you in 2 weeks for our very first “Trading Foundation Program (TFP)” intake in 2017! 😀

Travel Ideas for 2017: 5 Little-Known Travel Destinations Which Will Blow Your Mind!

This year, we are off to a great start for our trading accounts, which means it is time to get ready to start planning our travel adventures for the year! 😀

 

A typical tour (if you’re going without a guide) normally involves planting yourself at a city, and then using it as a base to get to where you want. That’s fine if you want a normal, touristy tour. But getting off the normal road is a lot more rewarding (and a lot more fun!)

Unlike what the image below shows, we’re not going to London, Ney York, Paris, or the Taj Mahal (been there, done that!).

1

Here are 5 places you must visit if you really consider yourself a travel junkie:

  1. Wales
  2. Kenya
  3. Sri Lanka
  4. Albania
  5. Romania

 

1. WALES – OF HIGHLANDS & HISTORY

Wales is home to one of the most beautiful highland regions of the world. Picturesque and yet not cliche, the natural beauty and variety of the mountainous region is sure to dazzle. Of course, how can we talk about Wales without an obligatory picture of a railway train?

waAh, yes. The obligatory railway train photograph.
Source: Greatrail.com

History buffs would love the endless menu of castles, museums & churches. Picture the Harry Potter castle – Alnwick Castle of Northumberland in England – you get much more than that. Caenarfon, Conwy, Harlech, Carfiff, and Pembroke castle are some of the more interesting ones.

In the southwest, Pembrokeshire offers unparalleled coastal adventures and sight-seeing. Here, a snapshot of what it looks like in Pembrokeshire national park.

walesCoastal beauty is the norm here at Pembrokeshire, Wales.
Source: visitwales.com

2. KENYA – NOT JUST ANOTHER SAFARI

Beautiful white sandy beaches, national parks, bustling metropolitan cities, luxury hotels… you probably won’t associate these with Kenya, but they sure do exist there. African nations are starting to ramp up on their visitor-friendly image, and while safety is a concern on many travellers’ minds, Kenya is a largely unexplored territory that would yield great dividends, if you know where to look.

asNairobi at night sure doesn’t look like the stereotypical Africa.
Source: mannisingh.wordpress.com

Another interesting attraction is its rich tribal culture, and Kenya wears this as a badge of honour. Bomas of Kenya is a wonderful museum where visitors can live in a recreated village, and learn about the music, culture, and lifestyle of each tribe (along with cultural performances!)

aCultural Performance at the Bomas of Kenya
Source: @fetchstix on Pinterest

3. SRI LANKA – A BEACH RESORT?!

Sri Lanka is often not thought of as a tourist destination. However, Sri Lanka offers majestic beaches:

111A beautiful pavilion along Bentota Beach, Sri Lanka
Source: vivanta.tajhotels.com


111111Sri Lanka is often not thought of as a beach destination.
Source: Sri Journeys

…and an epic-looking rock.

lionNot just another rock; the rock, named ‘Sigiraya’ (lion rock) is an ancient rock fortress of nearly 200m in height.
Source: Ceylon Private Tours

Marco Polo described this island as ‘the finest island of its size in the world’, and many adventurers continue to flock to its beaches and beautiful shores. Elephants, Indian culture, rare spices, and precious stones make it a legendary place for natural beauty. While the place experienced civil wars in the past, the peace it now has brings optimism to its people, and great times are ahead for this humble location.

4. ALBANIA – HORSES AND BUNKERS (750,000 OF THEM)

This humble nation of about 3 million Albanians has a very deep and rich history. While watching people lead their horses out on the street, you may find it fascinating that this nation was totally isolated because of its paranoid communist dictator.

asAn Albanian leads his horse out on the streets in Cosovo.
Source: blonde-gypsy.com

As a result of the dictator’s communist rule, there are many strange little concrete domes (750,000 of them!) to defend the country. These gigantic grey mushrooms are all over the country.

There are some obvious problems with designing a military strategy around hundreds of thousands of bunkers. How long could one defender hold out alone in a bunker? How could all the disparate, scattered positions be resupplied? How would they communicate?
– Warisboring.com

bunkerIt’s actually quite common to see bunkers in random places. In front of homes, cemeteries, and even malls.
Source: lh3.ggpht.com

Shopping is great in Albania, and the languages spoken are rich and diverse. Definitely somewhere to visit if you’re into history and it’s incredible how a nation survived world war 2, nazi germany, and communism all in one century.

5. ROMANIA – CULTURALLY EXTRAVAGANT

romCool-looking houses dot the landscape amidst lush greenery here in Romania.
Source: LonelyPlanet

Romania is beautiful city with colourful cobblestoned towns painted to perfection. Aside from its quiet, just-humming-along mood, the Buconiva’s painted monasteries offer an epic adventure into the war against the Ottoman empire.

aBiblical stories painted onto the monasteries’ walls.
Source: romaniaandmoldova.com

Most buildings are painted inside, but these are also painted on the outside. The buildings clearly deserve its UNESCO World Heritage status. History buffs would love this and the place is just surreal.

The famous Danube Delta is located in Romania. Hiking, exploring, travelling by boat, and just being in awe of wildlife is a wonderful treat for travellers who are adventurous enough to spend a few days here.


deltaAn aerial view of the Danube Delta, Romania.
Source: rspb.org.uk

baA beautiful shot of the delta from a boat.
Source: Romaniaforall.com

Now that I’ve pointed out these 5 places, I’m sure you are amped to get yourself creative on your next trip.

Feel free to leave a comment if you have other suggestions, and I might just add it to my next travelling destination.

Cheers, and a great week ahead! 🙂

 

RESEARCH SOURCES & REFERENCES

lonelyplanet.com/wales
warisboring.com/albania-has-a-bunker-problem-da1ad107a804#.ipbpdcoup
blonde-gypsy.com/2013/02/28/15-things-you-should-know-before-traveling-to-albania
tripadvisor.com.sg/Attraction_Review-g304141-d317483-Reviews-Citadel_of_Sigiriya_Lion_Rock-Sigiriya_Central_Province.html
atlasobscura.com/places/bunkers-of-albania
nomadicmatt.com/travel-guides/romania-travel-tips
romaniaandmoldova.com/romania/moldavia/the-painted-monasteries/
lonelyplanet.com/romania/southern-bucovina/bucovina-monasteries

Recent Travel Highlights: Ireland, Iceland, UK – Photos Are Finally Out!

In October, I embarked on a 2-week trip with my sister to Ireland, Iceland and the UK, and it was an amazing trip! 😀

In 2 days, I will be going for another 2-week trip, this time covering Dubai, South Africa and Lesotho. (Yes, this is a country!)

Of course, I will continue trading as I travel, and continue supporting my students and traders. Stay tuned for my next “weekly market highlights” video which will be shot in South Africa!

For those who love adventure and real-time updates, do follow me on Instagram as well: https://www.instagram.com/iamrecneps/ 

ig-profile

 

Here are some photos from my last trip:

fb-album-ireland-iceland-uk

Here is the full photo album for this trip: https://www.facebook.com/iamrecneps/media_set?set=a.10154654785598430.1073741842.530303429&type=3

Good luck, and see you soon in 2017 when we commence our new training workshops! 😀

5 Practical Tips on How to Trade on the Go (With 15 Minutes a Day)

After trading and travelling to 48 countries across the world, I realised that it is actually not very difficult to trade on the go, since in most countries you can get wifi or buy a data plan, so as long you have your mobile phone, you can easily place trades as you move along.

2016-07-10 10.20.49

 

Here are some useful and practical tips I have picked up along the way:

1. MAKE SURE YOU HAVE A GOOD INTERNET CONNECTION

This is a no-brainer, as the last you want is to be left handing with no internet after entering some trades, and not being able to input your stoploss and targets. Don’t forget to take full advantage of Wifi hotspots at hotels and cafes, or even better, purchase a local SIM card and data plan.

If you have intermittent access to the internet, perhaps because of flights, then make sure you always have a stoploss in place for all your trades.

2. FOCUS ON A HANDFUL OF SETUPS AND PRODUCTS

Since you don’t want to spend too much time browsing the markets, it is a good idea to prepare a simple watchlist beforehand. For me, I usually focus on about 20+ forex/commodity pairs, so that I can scroll through all of them quickly in a few minutes with my mobile phone to look for any good trading opportunities.

And since I won’t be taking many trades, I can choose the best of the best trades, which means that I can focus only the very best setups that I see. When you see an AWESOME setup, it should jump out of the chart and right in your face, and you should feel the rush of adrenaline and excitement to take the trade. If you have to squint at the chart and think thrice about whether it is a good trade, then I would suggest you just let it go.

3. USE A LARGER TIMEFRAME TO PLACE YOUR TRADES

If you are on the move, then obviously you won’t have time to be staring at the charts all day, which means you should not be using smaller timeframe charts like the 5-minute or 15-minute charts. Actually, I won’t recommend using anything less than a 1-hour timeframe.

By using longer timeframes (1-hour, 4-hour, daily), it means that you only need to check the charts at very infrequent intervals, such as every hour, every 4 hours, or once a day. This way, you do not have to constantly worry or stress about your positions, because your stops will naturally be wider (and your positions smaller), so you do not have to worry about the smaller market fluctuations.

4. DO NOT SPEND MORE THAN 15 MINUTES A DAY

Since you do not have to constantly monitor the market, this means that you only have to periodically check and update your positions. You can easily do this by utilising the “wasted” pockets of time that you have throughout the day.

For example, when you are waiting for a bus/taxi/mrt/plane/train, or waiting for your ordered food to arrive, instead of playing some mindless mobile app game or reading random articles of facebook, why not open up your trading app and place some trades instead? This way, you can make some additional income with your spare pockets of time.

5. LEVERAGE ON A GOOD NETWORK OF TRADERS

Lastly, by leveraging on other good traders, I can learn from their trades and hone my skills as a trader.

I will be back in Singapore in about another week, and I look forward to seeing you all at my next “Trading Foundation Workshop”, where I can share more about my travel adventures and some of the trades I made while travelling.
Check availability: http://synapsetrading.com/trading-foundation-workshop/

See you soon! 😀