90 bucks?!! A good trader always guages supply/demand (support/resistance). Good luck with your eBay auction.
Wow, thanks for the key to unlocking what Jack means. Now, I finally got that mofo SCT workin' like a ho turnin' tricks in Vegas.
Good traders look for low risk, high reward, Heads I win, tails a lose a little type situations. Surfer...take that advice to heart, you wouldn't blow your year on one or two trades!
I was right to be worried. Although reason dictated 25bp my trading gut told me that 50bp was a possibility. Note how I joke about it at the start of the interview. In any case if today proved anything its that the Fed cares a lot more about stocks than the greenback. It maybe a smart move in the short run as it helps exports and allows us to pay our debts with cheaper dollars, but it may just come back to bite them in the a-- if foreigners refuse to finance us further. its in no one's interest to see US slide in to a recession but if this easing doesn't work we get the worst of both worlds - contraction and inflation. Let's hope not.
Amazon is now shipping for 3 day delivery so no need to hunt for copies. Also the publisher informs me that B&N re-ordered which means that it should be on the shelves in brick and mortar stores as well.
Ok here is one last tip from our traders, "11. Make Your Money Work for You In a rush for capital appreciation, many traders often overlook the immense power of compound interest. Marcelino Livian is not such a man. Instead, much like the largest money center banks and the savviest hedge funds in the world, Marcelino always looks to get paid while holding a position. This is the reason he trades FX exclusively on the side of the carry, letting the positive interest rate differential between the currencies work to improve his average entry price while he waits for his trades to become profitable. While his method may be far less glamorous than the swashbuckling style of the scalpers it is no less profitable and should be taken just as seriously." This actually applies far more to investors than traders. The point being ALWAYS try to get paid. How many of you are aware that fully 3% of the 6% long term return on equities comes from dividends? This is the equity version of the carry trade. The point being is that in the long run money is made from both capital appreciation and interest rate return. That's why the carry remains such a seductive strategy and only blows up during times of risk aversion.
Yes, carry looks very seductive. Borrow yen at basically 0 interest and invest it somewhere else. For example, Iceland where krona interest was recently as high as 12%. However once the cross moves against you, as we have seen recently, all return might vaporize. This strategy is best when used on OPM (other people money). For several years when everything is rosy, you get to pocket nice returns, once it goes negative, oh well it is clients money after all. I have seen this in way too many places by now, and this is exactly the attitude of a lot of fund managers. However, compound interest is the 8th wonder of the world.
Compound interest is indeed the 8th wonder Carry can be brutal when traded on leverage ( that what kills most hedgies) but traded cash on cash or 2:1 lever factor it can be a very powerful strategy. Remember with carry every day you lower your cost of entry - that is a HUGE edge.