More professionals take up Forex Trading for secondary income

More professionals and executives are turning to Forex Trading. They want to take care of their career, earn more money and maintain a carefree lifestyle; Forex Trading is seen as a good fit.

According to Terraseeds Market Technician’s chief trainer Ms Binni Ong, “We observed a 50% increase in the number of professionals coming to our Tflow® Course over the last two years. They do not quit their full time jobs, but are able to earn additional
cash through trading.”

She adds, “Professionals such as lawyers, engineers, accountants, chief financial officers choose the Terraseeds Tflow®. This highly sophisticated proprietary trading method predicts future prices and movement. It utilizes Applied Elliott Wave and Advance Fibonacci theories. These are popular techniques used by financial institutions like banks to generate profits. ”

The best feature of the Terraseeds Forex Tflow® System is it allows the trader to “earn money while he or she ‘sleeps’.” A trader typically starts with analysis of the market either during the start of the week or head of the day. Using the analysis, he or she is able to pre-determine entry level, maximum loss and target profit. Once orders are entered into the trading platform, he or she can then leave for work or go to sleep. It is a hands-off style of trading and does not require the individual to be glued to the screen.

When a trader applies this method, he knows the reward to risk proposition clearly. Such a methodology makes traders feel secure with the trade position. It is a boon to professionals who want to focus on their career.

Tara Ng, a former chief financial controller says, “Terraseeds Forex Tflow® System is a blessing to people who are trading. I would describe it as a system that has low and controlled risks. Moreover, it is specially designed for people who don’t have much time to do ‘time-consuming research’.” She added that her success rate is about 60-70% More professionals take up Forex Trading for secondary income since she first started 3 months ago and return is about 3 times of risk.

Ms Ong agrees with the assessment, “We have a doctor who works in a polyclinic making consistent profits of about 500 to 1000 pips in a month. He particularly likes the ‘earn while you sleep (EWUS)’ strategy because it allows him to place his trade before leaving for work.” She adds, “He tells us that this was really a stress-free way of making second income without having to sacrifice family, friends, or work.”

We have a doctor who works in a polyclinic making consistent profits of about 500 to 1000 pips in a month.

There are several reasons why forex trading is a top choice among professionals or executives:

• The Forex market trades 24 a day so trades could be done at anytime of the day
• A low capital outlay is required because of the use of leverage; trading can be done with deposits as little as USD250
• Traders can choose from an increasing number of established brokers operating in Singapore
• Position size for trades are scalable; it can be as little as USD 200 to a few hundred thousands so each individual can trade according to his means
• There is plenty of price movement everyday so there are many opportunities to make money
• Brokers’ trading platforms offer controlled risk trading with pre-established maximum loss

Ms Ong also observed that a well-regulated environment by the Monetary Authority of Singapore has very much contributed to the flourish of currency trading in Singapore. Education plays a part too. Schools like TerraSeeds runs regular free introductory sessions on Forex trading for professional and executives to get acquainted with the currency market as an alternative source of income.

Flat owners required to register tenant details from Feb 1

Flat owners required to register tenant details from Feb 1
By Channelnewsasia.com | Posted: 12 January 2010 1751 hrs


Singapore: Owners of HDB flats who sub-let rooms will have to register with HDB within 7 days of doing so.

The rule, taking effect from February 1, also requires owners to notify HDB when they renew or terminate the sub-letting of rooms, and when there are changes to their sub-tenants' particulars.

The Housing and Development Board (HDB) said the new requirement will support the Ministry of Home Affairs's efforts to eradicate loan-shark activities and better protect HDB residents.

Currently, some people use their old addresses to borrow from loansharks
while they rent a room in another HDB flat.

By moving their place of residence without updating addresses in their NRICs, new occupants of the flat end up being harassed by loan sharks while the borrowers are untraceable.

Through this new rule, the HDB will be able to capture the particulars of sub-tenants, while the MHA will be able to trace the movements of borrowers.

The new rule will apply to all new and existing cases of room sub-lets.

For those with existing sub-letting tenancies that commenced before February 1, owners have a 6-month grace period to register.

Those who flout the rule face a penalty of up to S$3,000 and may have their flat compulsorily acquired by the HDB if they repeatedly fail to comply with the new requirement.

The registration - which includes details of the tenant, duration and rental fees as well as family structure - can be done online or at the Branch Office, where HDB staff will be on hand to help. - CNA/sf

Flat owners required to register tenant details from Feb 1

Does this mean that loansharks can check HDB database to know where borrowers have moved? Lol :O

Flat owners required to register tenant details from Feb 1
By Channelnewsasia.com | Posted: 12 January 2010 1751 hrs

Singapore: Owners of HDB flats who sub-let rooms will have to register with HDB within 7 days of doing so.

The rule, taking effect from February 1, also requires owners to notify HDB when they renew or terminate the sub-letting of rooms, and when there are changes to their sub-tenants' particulars.

The Housing and Development Board (HDB) said the new requirement will support the Ministry of Home Affairs's efforts to eradicate loan-shark activities and better protect HDB residents.

Currently, some people use their old addresses to borrow from loansharks
while they rent a room in another HDB flat.

By moving their place of residence without updating addresses in their NRICs, new occupants of the flat end up being harassed by loan sharks while the borrowers are untraceable.

Through this new rule, the HDB will be able to capture the particulars of sub-tenants, while the MHA will be able to trace the movements of borrowers.

The new rule will apply to all new and existing cases of room sub-lets.

For those with existing sub-letting tenancies that commenced before February 1, owners have a 6-month grace period to register.

Those who flout the rule face a penalty of up to S$3,000 and may have their flat compulsorily acquired by the HDB if they repeatedly fail to comply with the new requirement.

The registration - which includes details of the tenant, duration and rental fees as well as family structure - can be done online or at the Branch Office, where HDB staff will be on hand to help. - CNA/sf

What is Islamic Finance and all the hype?

It is interesting to hear or read of developments in Islamic Finance without knowing what it really is.

Here are some resources that I found but before that I think the summary is this (readers who know more about this please help to elaborate further - thank you):

1. Interest is not accepted; a slightly complex arrangement is put in place to
   
2. There is risk sharing
3. Gambling (game of chance) is not allowed so certain insurance and derivative trading falls into gray area
   
4. Devout muslims in non-muslim countries without access to Islamic banking can use non-Islamic banking but once the former is available, they must use those Islamic banking services exclusively
5. Many issues are still unclear and being debated

http://en.wikipedia.org/wiki/Islamic_banking

Guidelines on the Application of Banking Regulations to Islamic Banking

Islamic Finance: Growth and Prospects in Singapore

What Makes Prices Move? | Bradley Gareiss | FX360®

What Makes Prices Move? | Bradley Gareiss | FX360®

One–Year Extension of 4% Floor Rate for all SMA and RA Monies

Got this in my email.

Dear Sir/Mdm,

One–Year Extension of 4% Floor Rate for all SMA and RA Monies
To help members cope with the current economic climate, the Government will maintain the 4% floor rate for interest earned on all Special and Medisave Accounts (SMA) monies and Retirement Account (RA) monies for another year until 31 December 2010. After 31 December 2010, the 2.5% floor rate will apply for all CPF accounts.

An additional 1% interest will continue to be paid on the first $60,000 of a member’s combined balances, with up to $20,000 from the Ordinary Account (OA). The additional interest received on the OA will go into the member’s SA or RA to enhance his retirement savings. If the member is above 55 years old and participates in the LIFE scheme, the additional 1% interest will also apply to his annuity premium, less annuity payouts already made. The additional interest earned on the member’s LIFE annuity monies will be paid into his RA.

Click here for more information.

Yours faithfully
CPF Board


For more information, do visit our website at www.cpf.gov.sg. Please login to My Alerts if you wish to unsubscribe or modify your subscription. If you have further enquiries, please contact us. We will be glad to assist you.

This is an automated message. Please do not reply.

MoneySENSE plans to set up financial literacy institute

Channel NewsAsia - Sunday, November 29

SINGAPORE: More financial education will be available for Singaporeans soon. National financial education programme MoneySENSE plans to partner a university or polytechnic to jointly set up a financial literacy institute.

The Monetary Authority of Singapore (MAS) said at the Mind Your Money seminar on Saturday that even though there are many financial education programmes now, more needs to be done.

Heng Swee Keat, managing director of MAS, said: "Building on the work of MoneySENSE, the institute will identify core financial literacy competencies at each stage of our life and develop and conduct programmes that enable us to learn those skills."

Experts said this is timely, with recent green shoots being threatened by the dark clouds of Dubai’s debt crisis.

Shockwaves emerged in global markets after the Dubai government’s investment firm Dubai World asked on Wednesday for a half—year delay in repaying a major portion of its US$80 billion debt.

However, experts said more time is needed to assess the real extent of the damage.

David Gerald, president and CEO, Securities Investors Association of Singapore, said: "We do not know the extent of the involvement of the banks in the loans and in this particular episode. Until the information comes out, you must not assume that things are going to be bad.

"I would want to wait for correct information and just because there are other jurisdictions where the markets have reacted, doesn’t mean we need to react the same way."

While the air of uncertainty lingers on, more than 350 people attended the Mind Your Money seminar, which was presented by MoneySENSE and MediaCorp.

Lucas Chow, CEO of MediaCorp, said: "MediaCorp has always kept our pulse on the financial heartbeat for the benefit of our audience. Apart from the nightly financial reports on Singapore as well as on Asia Business Tonight, our channels produce current affairs programmes that give viewers the insight on how to manage their own investments."

Asia Business Tonight is aired Mondays to Fridays at 10.30pm on Channel NewsAsia.

Besides getting information on investing, those who came for the seminar were also treated to special appearances by local celebrities, some of whom shared their own investment experience with the crowd.

— CNA/so

Opening Remarks by Mr Heng Swee Keat, MD, MAS

Invest in Gold in Singapore

Now that gold prices are near 28 year highs driven by depreciation in the US dollar, economic uncertainty and actual demand by growing economies India and China, folks may be interested to invest in gold. Here are some of the ways:

1. Exchange Traded Fund or ETF of gold - Street Tracks Gold Fund (Stock code on Singapore stock exchange is 087 and the End of Day price as of 16 October is S$75.60. Alternatively folks who have US brokerage accounts like InteractiveBrokers can buy 'GLD' which is the stock code of the same fund listed in NYSE.

2. Unit trusts of gold mining companies and proxies - These may not be good proxies of gold price because there are many factors to consider including sale of fund commission, management fees, fundamentals of the component stocks in the fund etc. Unit trusts can be bought from Fundsupermart or asset management companies like UOB Asset Management.

3. Gold savings - many banks offer gold saving accounts. Its quite cute because you get literally a savings booklet that has a shiny gold cover. You can buy gold in grams and the amount you own will be recorded. There are monthly holding fees though.

4. Gold bullion - Gold bullion offers good alternatives because you own the physical stuff. They are better deal than gold jewellery because the latter's price usually includes worksmanship fee and its not pure. Gold bullion can be bought at local banks but only at the head offices. For example, there is a special counter at UOB main bank at Battery Road where you can buy bullion. Some things to note:

• Bring your IC because the bank will keep a record


• The gold they sell you may not be freshly minted (they are afterall tradeable and therefore could be 'secondhand') so you need to make sure they are not chipped or scratched


• Keep the receipt for the purchase because you can sell the bullion back to the bank but they will ask for the receipt and the bullion must be in good condition


• All of us cannot resist taking the bullion out to touch but for goodness sake don't drop it on the floor. That's because pure gold is very soft and will get scratched or dented. The bank may not accept back.


• If you really need to sell your bullion but the bank does not accept, then try another bank or go to a goldsmith.