Workshops

Charlotte, NC Workshop and Complete Trading Program
April 16-18

Includes:

* Inside The Banks
* Complete FX Course
* 2 Months PTC
* $500 Rebate option
* and more...

You are What You Do... Trade With Discipline!
Chris Lori

Hello Traders

For those who have not had a chance to view my recent forex trading interview with MB Trading, it will be available in the blog below today's, note or listed on the sidebar. MB Trading has bought Wizetrade and will be host to regular TV programming on their site. I will appear regularly during the forex trading segments to discuss viewpoints and technical aspects of trading.

I was invited to carry the Olympic Torch on Dec 22 and hope to have a picture for you soon. We will be hosting the Olympic Winter Games in my home town of Vancouver, Canada in Feb.

I hope you are all having a good holiday.

Notes:

January is around the corner and some people are wondering about what will happen when investors wipe the slate clean and start with a fresh risk profile. We look at monthly moves since 1999 in the S&P 500 and EURUSD more out of curiosity than anything else, as the last two years have given us heretofore unseen conditions and events.

When we compare the average open to close percentage move over the month for EURUSD, we notice that there is a distinct pattern of higher EURUSD in December giving way to a drop in January. Only 3 of the 11 observations in January were positive while 7 out of the 10 December observations were positive. But as of now, EURUSD is down 4.5% in December as Eurozone sovereign concerns, higher US Treasury yields and the positive US labor data helped the USD regain its footing. Barring a sudden surge in the EURUSD into year-end, that would be the lowest percentage for EURUSD by a wide margin since its inception.
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Here's my latest interview with the fine folks over at MB Trading during their Elite Traders Week.

Toxic Harvard Swaps

Hello Traders

I wanted to share this article with you that I think is fascinating. Harvard is supposed to be host to our brightest minds. Lawrence Summers who is largely responsible for Harvard's near financial collapse, is now President Barack Obama's economic adviser.

Note the comment..

‘Education Business’
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Jack Crooks, President and Chief Trading Officer of Black Swan Trading Interview with Chris Lori, - CTA, FX Fund Manager

Bio

Chris Lori is a registered CTA and fund manager for Seaview Capital Inc where he manages funds on behalf of private and institutional clients worldwide. Chris offers private consulting services to individuals and institutions looking to diversify their portfolio relating to foreign exchange holdings and risk. He also manages a currency fund for clients booked in London and Singapore.

Chris is also a popular speaker on foreign exchange trading and investing and has shared his insights and techniques with traders and fund managers worldwide. The high demand for Chris as a speaker, trainer and fund manager has placed him on the global stage with frequent lectures and workshops in Singapore, Australia, USA, Canada and Europe. Chris has been a guest on Canada’s “Money Talks” Radio show, Singapore’s Radio 938, and has written articles for financial publications in Singapore, USA and Canada.

Previous to his career as a fund manager, Chris competed in four Olympic Winter Games and won the prestigious Overall World Cup Championship in the sport of bobsledding.

Chris totaled nine Crystal Globes for Overall World Cup final standings and accumulated twenty-two World Cup Medals during an outstanding bobsledding career. Read More...

Training Program Includes:
*2.5 Days Live Workshop
* Inside The Banks Online Course - Interest Rates and Interest Rate Spreads
* Complete FX Course - 12 CD Online Course
* 2 Months Pro Traders Club - Hours of Recorded Live trades and analysis
* $500 Rebate option
* and more... WOW!!

You are What You Do... Trade With Discipline!
Chris Lori


USD Soft as FX remains in balance

My apologies to Pro Traders Club members that the recordings have not included live trades. Last week was busy and I could not accommodate it. I spent another weekend working on a additional modules and strategies for the Complete Course as well as a remarkable Scalping Course, to be released soon.

Most global central banks will wait for the Fed to shift policy first, largely to avoid attracting capital inflows that would pressure their currencies higher. The Fed will not want to move aggressively until it feels that credit growth and real growth are sustainable, but FOMC officials admit that rates may need rise preemptively in order to pop asset bubbles or ward off inflation, even under difficult economic circumstances. We look at the Fed's priorities ahead of Wednesday's decision. Read More...

Tags: USD

It is known that the human personae avoids risky activities, in general. The discipline of trading requires one to confront and calculate risk parameters into their trading model as risk cannot be avoided. A common behavior among developing traders is the rejection of the risk element in trading to avoid dealing with an unwelcome emotion. Unfortunately, there is no way to avoid the risk element that is a part of trading. Therefore, traders will attempt to avoid it by simply not dealing with risk and trade within liberal parameters. The problem with that is the trader will inevitably get hammered when they take on a string of losses or even on a single large loss from a position one has insisted on holding while denying its risk element. If you do not develop a sound risk model you will lose.

Central Banks Remain on Hold

The relationship between USDCAD and oil, as oil has slid $9 since the beginning of December. We noticed that the correlation between USDCAD and oil has broken down recently and that USDCAD and USDJPY are the only G10 currencies to have positive near-term correlations with oil.

Oil and USDCAD have generally been well-correlated given energy's significant share in Canada's economy. But recently, USDCAD has bounced around between 1.0430 and 1.0750 in recent weeks and stayed in that range as oil dropped. Another way to look at the recent break down in correlation is over various periods. We looked at oil and G10 currency correlations over 270 days, 200 days, 90 days and 30 days and USDCAD, along with USDJPY, reverses in the shorter 30 day correlation. Read More...

Big Week for Central Banks

Among upcoming data releases, the trade balance should be relatively unchanged and initial jobless claims are expected to increase slightly after declining for five straight weeks. Retail sales for November are expected lower while the University of Michigan consumer confidence figure will likely remain unchanged from 67.4 previously.. It will be interesting to see if the pattern continues in December, where the preliminary confidence figure is weaker than the final reading.

While the surprise in the nonfarm payrolls and unemployment rate appeared to bring forward expectations of a Fed policy shift, our economists maintain their view that the Fed will start moving the Fed Funds target by the end of Q2 2010. Nevertheless, the dollar received a nice boost from the positive data and we will see if the labour data surprise could potentially break the dollar/equities correlation. Read More...

How would you like to go bobsledding with Chris Lori and Pro Traders Club members?

Mingle with successful full time FX traders who Chris has mentored and take a few high speed and intense bobsled rides. Stay tuned for updates.

Todays Forex Notes

Sterling has had a difficult few days, until being saved by a bout of risk aversion on positive US data, and for once it is not the policy outlook weighing on the currency. The problems in Dubai have led to some suspicion that Middle Eastern entities will need to liquidate holdings in the UK to establish a cash buffer case the problem spreads. Read More...

Tags: GBP