Spencer Li

Forex Trading | A Quick “Trend Play” in the Forex Markets: Profits Secured for EUR/USD and GBP/USD

On Monday, the stock markets were rather quiet, but the forex markets were setting up a nice trend play on the EUR/USD and GBP/USD. This observation was made simply by observing the price action, as I do not believe in using wave counts or esoteric patterns to forecast the future. That is not what real trading is about.

I took large short positions in both currency pairs and shared it in the private discussion forum for our graduates.

Forex Trading

For those new to forex,  1 pip is 1 tick of increment on the forex movement, and for EUR/USD and GBP/USD, it is 10 USD for 1 lot of a contract. For a 50 pip move, it would be calculated as such: 50 pips x 10 USD = 500 USD.
Forex Trading 2

 

Forex Trading 3

Today, after returning from my game of morning tennis, I was delighted to find that my targets have been hit for both pairs. Overall, the trend is still bearish, and I will continue to look for high probability setups.

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Spencer Li

Trading Class | The Synapse Program – Another Batch of Promising Traders!

Last weekend, we concluded another full-house run of the Synapse Program, training another batch of promising new traders, and imparting to them lifelong real trading skills, which we hope they will continue to apply to achieve consistent results in the markets.

Another Batch of Promising Traders

Another Batch of Promising Traders 2

We look forward to seeing all of you participate actively in the discussion forum, and at the upcoming monthly mentoring workshops. Remember, a skill is not learnt overnight, and it takes practice to perfect it. Together, we can avoid the common pitfalls that most beginners struggle with.

Feedback

“The topics covered are very complete and cover all aspects of trading. Spencer is also very knowledgeable and is able to answer all the questions asked.”
– Ivan Tan (PCS Security)

“Content is simple and easy to understand, very useful for novice and even experience traders. One of the best courses in the market, will gladly recommend to other family and friends.”
– Adrian Khwang (Standard Chartered Bank)

“I have known Spencer for several years. He is a passionate trader & very well read in the subject of price action and technical analysis. Definitely someone good to talk to in terms of trading ideas and TA.”
– T.Y. (Proprietary Trader, Propex Derivatives)

“Detailed explanation of the 7 setups!”
– Christopher Chan (Mitsubishi Corporation)

“This is a very good training program for beginner, even for those seasoned traders.”
– Lam Lee Lee (HR Professional)

“”Detailed program which covers full aspects of trading. Good explanation given on the technical aspects of charts. Very friendly and nice trainer.”
– Janice Ong (Student)

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Spencer Li

Shares Investment Guest Article Feature

Shares Investment Guest Article Feature

Recently, I was asked to write a feature article in the “Shares Investment” publication to give an outlook on the Singapore market. As you can briefly see from the chart in the picture, I am expecting a larger correction, which would at least see prices dip below the 3,000 round figure. To find out more, this publication is available at selected bookstores and most news stands.

Shares Investment Guest Article Feature 2

 

According to Investment Trends’ Singapore Broking Report 2011, Shares Investment (Singapore) is the most popular magazine among frequent stock market traders in Singapore. Since july 1995, Shares Investment has been weel-acclaimed by both the investing public and local stock brokers – boasting of more than 30,000 readers every issue.

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Spencer Li

SGX Exclusive Interview | StockWhiz Trader Profiling

StockWhiz Trader Profiling

 

Recently, I got profiled for the SGX StockWhiz Online Investing Competition, and was asked to share some of his experiences with the participants:

  • What are some trading strategies that you would like to share?
  • What are the key elements of successful trading?
  • How do you decide which financial instruments to trade?
  • What are some educational resources you would recommend?
  • Who would you consider to be your trading mentor?

To read the full interview, click here.

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Spencer Li

Weekly Market Outlook: Oct 15-19

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Last week, we saw a strong bullish bar breakout of the range, however this week ended with a strong bearish bar back into the range. This shows the strength of the bears, and bulls will not be looking to buy until prices have dropped to the area of the green horizontal line. If prices fall through, we will see a double top; if prices hold, we will see more range trading. A key event is the EU Summit this Thursday, where Spain may or may not request for a bailout, and this will have a significant impact on the sentiment.

Highlights from “The Synapse Forum”

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The falling apple is acting as a drag on the NASDAQ, and hence the US markets in general. The US markets are likely to be ranging or bearish.
 

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Although the general market is bearish, the commodity stocks are showing signs of bullishness, such as this chart of Noble. 

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