CFTC 10:1 Leverage Change
I have received a number of emails asking my view on the recent CFTC 10:1 Leverage Change.
Risk management is a subject covered in every book, article and blog ever written in the field of trading. However, good risk management is rarely applied by developing traders with an appetite for aggressive returns. On a side note, it's interesting to see how many developing traders seek the most aggressive returns, yet have the least skill and are unclear in their trading models. I apologize in advance if this article sounds brooding, but it's important. Risk management is the easiest component of trading to understand, but due to the discipline required to implement, is the most difficult to apply, a philosophical point for another time (see my lectures on Psychology and Risk).
I'm currently in Singapore working and have met with other traders. It's always a pleasure sharing my experience with others. There are some amazing traders developing over here, and from the feedback we receive, they find our workshop to be the most informative and credible in the region, which is a much appreciated compliment.
The subject of risk management continued to surface throughout the lecture, so i will likely do a free video and make it available shortly after we implement the new course enhancements and the scalping course.
Please stay in touch, as we have more great news coming your way in the next two weeks!
I'm in Singapore and Kuala Lumpur until Jan 21, so it is unlikely I will be posting any bank reports in the free members area. Recently, i have the privilege of being one of a select few to carry the Olympic Torch. The photo is posted in the members area. We will be hosting a workshop in Charlotte, NC., Please let us know if you're interested in attending. We will have a couple guest speakers, only those who I have mentored and have become large volume, private full time traders. I will likely only have one workshop in USA this year.
After the first full week of the new year, the dollar finds itself once again on its heels. The dollar has started the year weaker against most of the G10 currencies and several of the better performers from 2009 find themselves leading the pack again, namely AUD, NOK and NZD. The US labor data on the whole appeared constructive but it did not do the dollar that many favors. The beginning of earnings season is the next litmus test for what the dollar could face ahead in 2010.