First post - who (am I), why, what, how

The raison d'etre of the blog is to put my journey as a novice trader online, to serve as a sounding board for myself, and also to share my experience as the journey unfolds. I plan to list the trading reference books, resources, websites, links, and knowledge that I can find online.

In all honesty, this blog is less for any anticipated reader than it is for me: it's really a means for me to make sense of my own journey, as I try to make it on my own as a trader.

Who am I

I go by my initials, PJ. I'm Singaporean Chinese, 28 years old (as of May 2009). Aquarius, A+ blood type, and genially eccentric, with a propensity to use big words (like "propensity") unintentionally and unapologetically.

Previously I had worked in A*Star on Jurong Island, then went on to an "illustrious" one-year career with UBS Investment Bank on Hong Kong Island in 2007-2008. This stint abruptly ended after I realized banking, while it pays well, is really not what I want to do, and coincidentally also got let go. I then abandoned a job offer for a stint with a long-only fund in Shanghai for a trading stint as a trading trainee with Blue Water Financials, a prop trading firm in Singapore. Under the terms of my contract with them, I won't divulge any details of my time there, so don't expect a Michael-Lewis-Liar's-Poker-style exposé, as there won't be any.

One disclaimer, which reflects less on the firm than on me: I was let go by Blue Water, because I wasn't profitable, though I always felt that I was almost on the verge of taking off. The frustration I felt with regards to my P&L was akin to being unable to climax when having sex, a sentiment which most women will probably sympathize with.

Sex aside, I'm always grateful to Blue Water Financials for having given me a chance. Otherwise, I wouldn't have known that trading is truly my life's calling, so much so that I'm trying to trade on my own, using my own money.

Why are you doing this?

Because I like to write. And I like to trade. So it seems natural to put two and two together. While there might be genuine concerns about leaking my strategies and what not, I think if my trading edge stems from my trading experience and expertise, that is unlikely to be "stolen" and replicated by an algorithm.

Why "Daft Fader"?

In trading, we often speak of 'anger trading': when you lose money on a trade, the subsequent trades you make in order to make back that money tend to be accompanied by hot air, emotions, but no little piggies. Often you lose even more money. That is anger trading. My ex-boss once said, "Anger trading is good, but bear in mind what happened to Darth Vader."

And it's often very unwise to fade (i.e. trade against) the trend.

And so, in a moment of questionable wit and even more questionable sensibility, the two elements were combined and "Daft Fader" was born.

What will you say?

For now, I will use this site to describe my setting up process. I'll post pictures if I have any, and will also use this site to post my reviews on computer systems, brokers, trading books, etc.