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This morning I hosted a 30-minute forex webinar and the topics were basically chosen by the participants who were their and the topics can be eclectic and that’s part of the fun. I DO try to keep some cohesion and I think today’s talk had a nice flow.

The topic began with a look at gold. The question was fairly general in terms of what my outlook on gold was. So we looked at the Directional Bias and then I somehow got into learning how to pace yourself and take breaks in your trading. Interestingly enough back in the “old” days of my stocks and futures trading, I would take summers off and trade basically nine months “on” and three months “off”. Times sure have changed…

This summer trading desks around the world were full staff. NO ONE seems to have taken a break and how could they? These are historical times for forex traders! Forex volumes are nearing record levels. Think about what we’ve dealt with though summer (in no particular order)…

U.S. debt downgrade and the budget deadlock that preceded it, the Eurozone crisis with Greece (but let’s not forget all the PIIGS), the franc at historical levels, and the yen at historical levels too followed by intervention by both the BOJ and SNB, crude oil’s drp from $115/bbl., gold’s rally to over $1800/oz., the dollar’s weakness, the Dow’s meltdown…

Anyways, today’s talk covered also why I think forex is the best market to trade (and I’ve traded futures, stocks, and options!) but also why you can trade forex alongside other markets for better understanding and confirmation of price movement.

The video runs approx. 27 minutes.


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