Reality

My name is Irwin Ki and I am currently studying Civil Engineering and Entrepreneurship (Minor) at North Carolina State University. I have 'played' with stocks during my tenor at NCSSM but have never really learned/used a strategy used for investing. I have taken a two year break from investing because of recent losses from my naivety and not doing my own due diligence...

During the Fall 08 semester I realized a couple of things in LIFE:

-Everyone in life live in different realities...with different expectations and even different views of entitlement.

-I control my own destiny...if I want to be in business...I alone have to find my niche.

-It is a luxury to work in your passion and make a living doing it...it is good to have a back up way to support oneself...but never stop dreaming and being curious.

-Successful people have the duty to care for those who are less fortunate...reading about John D. Rockefeller, Warren Buffett, and George Soros....gives me hope and inspiration.

-No matter what problems that exists in my reality...there is always someone who has it worse and there is always some who is better than me...stay humble.

-Success is defined differently.

-I am very blessed.

The New Chapter:

I contribute a number of things that pulled me back into the finance industry (Friends getting interested into trading, Tim Sykes, Wall Street Warriors...http://www.mojohd.com/mojoseries/wallstreetwarriors/, The thirst for ways to make money... One of my friends suggested that I look into "Timothy Sykes" a young trader who turned his batmisvah money into a cool 1.6 million before graduating college (http://timothysykes.com/) ...it is stories like those that inspire people. After purchasing his first instructional DVD, subscribing to his monthly e-mail alerts, and researching his trading methods I was confident if I applied myself efficiently the possibilities are limitless!

One evening I decided to trade GBP/USD (forex) on my play money account...I was immediately hooked. I don't want to type out what happened...but it got me very interested in arbitrage. The more I research the more I new that this trading medium is a fit for me...Highly leverage, liquid, volatile, trends very well, and trades 24 hours 6 days a week....perfect for the college lifestyle.

Learning from my previous mistakes...I am going to educate myself to the fullest before using my real money. From what I have learned in the past it is important to have a mentor in any field I am learning in. Tim is my mentor for stocks and Peter is my forex mentor.

Current Goals:

1) Hit 20 pips/day consistently for 5 days straight (My money transfer should be ready in two weeks...enough time to get my feet wet).

2) Develop a trading plan:

Use top down trading (observing the weekly>daily>4 hours>1 Hour>15 min charts to determine overall trend), indicators (MACD...looking for divergence, Stochastic...for scalping and good entry points, Exponential Moving...think trend, Tom Demark Trendlines...look for breakouts!), and fundamentals (News about currency).

Focus on trading 3 currency pairs EUR/USD, GBP/USD, and EUR/GBP.

Trade any waking moment...including the 3 am rush. The London Open.

Trade between 3-8% of my total account value to prevent swings...successful professional poker players have a strict bankroll measurement. Why not traders?

3) Understand Tim's (Shorting Penny Stocks) strategy...

Find overvalue stocks that have had huge recent gains...observe the technical data and short the stock once it breaks it's support point (this is what I have gotten so far).

4) Keep a trading journal (what I am currently doing now).

Format: Currency Pair Traded, Pips profit/loss, Time of Trade

In my opinion Day Trading when 'Winning' is the ultimate adult video game. Wish me luck.