Another round of workshops is over until Q2 2012. The Singapore group was quiet, but experienced, so I hope you grasped the concepts. I want to reiterate the importance of engaging the trading exercises as critical to building a structured approach to trading. The more you focus on the details, the more unforeseen details will emerge as you build a foundation in trading that will become internalized and remain with you as long as you are trading (which is as long as you manage your risk effectively).

Put it this way... If it takes you 30 days to run an exercise sample size of 100 and you improve your understanding of market structure in a specific area by 20%, you are much further ahead than if you are to take random trades that cost you $2000 drawdown resulting in no deeper understanding of market behaviour. Think about it. Although some workshop attendees took a few profitable trades immediately following the class, this will probably not be sustainable as the information is shallow in your my and internals. Stay the course and develop methodically. System thinking. Structure. Exercises. Stay the course. Read More...

Tags: Risk

Hello Traders;

It has been a while. We managed a couple workshops in USA and Australia in recent weeks. The events are highly intensive and the students are left fully exhausted, yet on a clear path to achieving their goals. Our Florida event took some live trades and the live trading component reinforced the concepts taught. I'm pleased that most persons showed up well prepared to receive the fullness of the content. I was surprised at the number of full time traders we have produced through the program who re-attend the live events. I want to Thank full time traders Maria for organizing the event and teaching her application of our price action approach, as well Kyriakos for sharing his perspectives on price behavior, and others for their contributions and inspiration to the group.

We look forward to seeing you all in Pro Traders Club. I have one more workshop in Singapore Nov 11-13, then the next will be in the spring or summer of 2012. We are considering an event in London prior to the (late July) 2012 Olympics. Let us know if you are interested in attending. Thursday I will arrive in New Zealand to attend the Rugby World Cup semi's and finals in the week ahead. Read More...

Hello Traders..

Coming Events:

Sept 24-27: Ft Lauderdale (4 days)
Oct 7-9: Sydney, AUS (3 days)
Nov: Singapore TBA (3 days)

Chris Lori 4-Day Price Action Workshop with Blake Morrow (1 Day)

Workshop Includes:

Workshop preparation - Online access to Chris' "Complete FX Course" - 36hrs
Online access to "Inside the Banks" course on Interest Rates and Rate Spreads - 5hrs
4 Days Workshop - including live market analysis and trading.
300 Page Manual
2 months Chris Lori's Pro Traders Club membership
1 Month of Blake Morrow's Trading Service.
Click workshop links for details.

Forex Notes:

Traditionally, G3 currencies have been drawn from the world's largest economies. But with China's economy overtaking Japan's and Germans wanting the Deutsche mark back in the wake of the Eurozone debt crisis, the dollar, euro and yen have become flawed as an exchange rate bloc. Read More...

Hello Traders..

Coming Events:

Chris Lori 4-Day Price Action Workshop with Blake Morrow (1 Day)
Workshop Includes:

• Workshop preparation - Online access to Chris' "Complete FX Course" - 36hrs
• Online access to "Inside the Banks" course on Interest Rates and Rate Spreads - 5hrs
• 4 Days Workshop - including live market analysis and trading.
• 300 Page Manual
• 2 months Chris Lori's Pro Traders Club membership
• 1 Month of Blake Morrow's Trading Service.

If you want to succeed, you need to work!
Tentative Date: September 24-27
Ft Lauderdale, FL

We will send out details to chrislori.com members by June 25. Early registration discounts apply.

Be sure to login to the free members area to review our latest video series - "Essential Qualities of a Successful Trader"

EUR Taking a Beating... It's about time!
EUR Targets: EURUSD 1m 1.40 3m 1.40 Read More...

Tags: EUR

Hello Traders..

Do you want to succeed in trading? The principals discussed in ths article by Bill Bonner, for The Daily Reckoning, will apply. I have added some comments within the article.

*We will be announcing our fall workshop in Ft Lauderdale in the next few weeks.

*Be sure to go into the free members area to view the latest video series: Essential Qualities of an FX trader. Watch your email inbox for additional videos in the series.

Read More...

Hello Traders;

We are producing a small series of videos titled, "Essential Qualities of Successful FX Traders." The first was released last week, now in the members area, and we will release approximately one per week. We had some issue with our mail server recently and may have lost some emails. If you have not received correspondence with us recently, it is possible your email has been lost. Simply sign up, again.

While traders endeavor to develop a specific skill and connection with the market they are trading, common roadblocks will impair their ability to succeed. The video series is intended to make aspiring traders aware of specific qualities and skills that absolutely should not be overlooked while engaged in the process of continuing development. The discussions are focused on specific characteristics common among all successful traders, so I hope you find the videos helpful.

When we talk about a "characteristic," we are not simply referring to a quality you can pick off the shelf for $200 or download for free and insert it into our trading. Rather real personal qualities that you must develop while fully engaged and committed to the process of understanding the business of trading and your asset class. It is a commitment to long term development of your core thought processes and habits. An important step to ultimate growth in the trading business is to confront that which you naturally want to deny as being important.

Announcement: We are strongly considering another 3 or 5 (incl live trading) day workshop in Ft Lauderdale Marriote Beach Resort in September. Let us know if you're interested.

******

It's an Interest Rate Story

The USD continues to sell off on what is a full scale interest rate story. At an institutional level, the USD is currently the funding currency for the carry trade. I haven't the time to write my views on US policy, but it appears the FED has willingly inspired one last USD sell off before they have to face the nation on QE2. We are listening closely to hints at policy changes and watching for shifts in yield spreads. I'm not convinced that it will be a vanilla yield spread story that motivates the next USD rally. There is something in the lurch that will emerge as a surprise likely to hit risk on the head. More to come in Pro Traders Club.
Read More...

Hello Traders;

We have an interesting week ahead with four central banks rate announcements. It is important that traders become familiar with the characteristics, the positioning and the patterns of the central bank statements, as this can guide your trading decisions around these key events. The RBA, for example, are typically more direct in their policy intentions, so this often lends some support to a view on a trend we may trade.

The FOMC's Lockhart and Evans but the market had little reaction to their statements. There is clearly keen debate within the Fed on potential normalization of policy and markets have been reactive to recent comments from other members. In order to see fundamental dollar support going forward we look to changes in tone from some of the less hawkish members including Bernanke (who will speak later today, although the subject is not monetary policy). Tomorrow, we have the FOMC minutes from the previous months meeting which should provide colour on the FOMC's general stance. As we discuss in almost every Pro Traders Club session, the FX market is currently driven by interest rate seeking flows. You can learn all about this in the course titled, "Inside the Banks."
Read More...

Tags: AUDJPY

Hello Traders;

It has been a while, since our last communication. I have been tied up with a couple workshops and other fx business, but I am now back into routine for at least a couple months before a holiday at the Monaco Grand Prix. Any future workshops for this year are yet to be decided. We may host one more in the USA in Q4.

We had been trading JPY short on a range of time horizons... AUDJPY short term, while picking away at USDJPY for both, short and longer term positions. We have done well on the short term trades the past few months and are still sitting on a small portion of unleveraged long term USDJPY, which are being supported by coordinated intervention. We have discussed the long term nature of the positions and will continue to buy and trade the pair. We anticipate further strength for JPY and will accummulate and trade the USDJPY and AUDJPY and look to buy any sell off of the crosses. In our live PTC session this week, I shared with members exactly where we would be taking positions and that we may see a spike lower to about AUDJPY 75.00 and that we would be buyers on the move lower. We have taken some of the longs out on rallies and intervention and are looking for the JPY strength to persist in the face of intervention, which will allow short term trading op's and we will look for levels to accumulate some longer term long positions on both USDJPY and AUDJPY. I recorded my trading activity, which is available at Pro Traders Club, during the JPY spike higher when volatility was at its maximum.
Read More...

Our London workshop was a barn burner. We currently have 2 seats remaining for the Feb 18-20 workshop, see page. We have also hosted several webinars which you may want to check out in the free members area.

Trading currencies, or any asset class for that matter, requires an absolute commitment of time and effort. If anyone tells you otherwise, go no further with that source. Like success in any venture, the dream has to be bigger than the pain. That's a quote from me. "The Dream Has To Be Bigger than the Pain." In my sport career, It was a constant struggle to be the best, as life is riddled with disappointments, frustration and pain, most often directly correlated to the chasm between where you are and where you feel you should be in your career and level of success. I know that every individual has a successful trader living within them. It is your responsibility to properly proceed in this business in such a way that you discover exactly how you can personally interface with the market. This is why we teach the way we do. Teaching people to trade is a science in and of itself. A cookie cutter approach will not yield results. Teaching has to be done in such a way that it taps into the potential of every person listening with intent. This is why we have produced many full time traders. Read More...

Hello Traders...

It was great to see you all at last weeks live webinar on Market Inefficiencies and Volatility for scalpers and day traders. The recording is now available in the free members area. We are working on getting the discussion with Maria into the recording.
Our workshop in London is going to be unmatched. It is truly a one of a kind event with Chris Lori, Ashraf Laidi and Steve Winiarski.. an amazing cast at a very fair price, which includes all online training.
Read More...

Tags: Risk

Ashraf Laidi will Join Chris Lori at 3 Day London Workshop

Jan 21-23
Friday Jan 21: 9am-5pm
Saturday Jan 22: 9am-5pm
Sunday Jan 23: 9am-5pm (Ashraf Laidi from 1:30pm – 5pm)

This workshop is contingent upon demand. You must show your interest with a $300 USD deposit before Dec 20. If there is not enough interest, the event will be canceled and your deposit will be refunded. If we proceed with the event, the balance of payment will be required.

Other events:

Chris Lori Open Webinar
“Interest Rate Spreads and FX”
Tuesday Nov 23 9pm EST (New York Time)
Register Here: https://www2.gotomeeting.com/register/565735387

Ft Lauderdale Workshop – only USA event in 2011
Feb 18-20

Singapore Workshop
Mar 4-6

We are short JPY against a basket

Irish Prime Minister Cowen announced on Sunday that Ireland has formally requested financial assistance from the EU/IMF. The euro clearly benefited from the news during the Asia session, and the dollar in particular weakened steadily against both the euro and the AUD. On Friday, the S&P 500 finished +0.7% higher, despite another 50bp hike to China's reserve requirement ratio. ECB President Trichet said that a strong dollar relative to the other floating currencies is very important. New York Fed Executive Vice President Checki said that recent dollar weakness is a side-effect, rather than a goal of the Fed's policy. He forecast that as US growth strengthens, the dollar should strengthen accordingly. US Treasury Secretary Geithner implied he would not support any attempt to change the Fed's dual mandate so that it focuses exclusively on inflation. He said the existing dual mandate has "served the country well over time". Minneapolis Fed President Kocherlakota, who is due to become an FOMC voter in January, is scheduled to speak later today. Last week, for the first time, Kocherlakota publicly expressed his support for the Fed's latest round of quantitative easing. Read More...