| Trading System Update Posted: 14 Jul 2009 12:14 PM PDT Spending the week in Long Island before heading back to Argentina over the weekend. I am thankful to be able to visit family and friends and we are enjoying the time and this beautiful East Coast weather.
System Update
Yesterday a preview of the new additions to the Conquer rules were released and is on the update in the member area right now. The Conquer trading system being a trend trading system is able to take large gains continually when markets are trending. However, markets more often than not are range based or consolidating. The last update to the Conquer has proven to help reduce draw down during non trending market periods and the current update will additionally help increase gains not only during the trending periods in which the trading system excels in but also in the non trending periods as well.
We already had a good system to work with, this fined tuned it as to take in more pips during market periods in which the system in the past was expected to experience account draw downs in and instead now make small gains during these periods.
FIFO Rules
Regarding the new forex FIFO rules taking place on August 1st, talk to your broker now t o find out exactly how they are going to handle it so that there are no surprises for you. Once again as for Oanda they stated, "New rules should not affect the FXTrade platform, as we are already in compliance with hedging restrictions and FIFO rules."
Understanding The Financial Crisis
I often ask myself with a fair amount of free market economists who saw the crisis coming (Janszen, Roubini, Schiff) why the government does not look to them for help to get out of it as well as going forward but rather to the same people who are responsible for the financial crisis in the first place.
That is the definition of insanity; repeating the same behavior over and over again expecting different results.
Interesting paper by Dirk Bezemer that presents evidence that accounting (or flow-of-fund) macroeconomic models helped anticipate the credit crisis and economic recession whole equilibrium models ubiquitous in mainstream policy and research did not.
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