That is according to the always interesting Hugh Hendry.

Hit the Facebook link on the right side of the page to sign up as a Fan. We have 199 now, a measly amount, but you can be the 200th. Get there quick…

Busy weekend Down Under for Sean. He got his picture in the newspaper.

Most retail traders stand in awe of their professional counter parts. Those guys sit in Aeron office chairs in front of four flat-panel monitors with thousands of dollars of market data and and endless liquidity at their fingertips. They may have all the bells and whistles but most don’t even scratch the surface of the technological capabilities arrayed before them.

I’m fortunate to have been on both sides of the fence and can attest that it is far easier trading as the “house” rather than taking purely self-initiated proprietary positions. I can also puncture the image that many of you have of bank traders as all-knowing, all-seeing market sages.

For instance, one banker I speak with frequently was watching local TV earlier this afternoon since his colossal financial had been switched to digital cable service but no one bothered to install a cable box. What were they watching instead of CNBC or Bloomberg? Sports bloopers in which a fat guy playing beer-league softball lost his pants while rounding the bases.

In other words, you as a retail trader have far more in common with the big boys than you suspect.  They get blindsided by the markets, just like you.

Keep that in mind the next time you wish you were working in one of the major dealing rooms.

You have some advantage over them. You get to keep all your profits. You get to keep your own hours. You don’t have daily, monthly P&L pressures to produce or get fired.

In some ways, you have the advantage. Use it!

Even Bloomberg agrees!  Currency trading is the place to be.

Reporting live from the Trader’s Expo in New York…

I’m always amazed by the variety of folks you come across at trade shows.  I think the headlines sums it up; the diversity of the attendees is breath-taking.

It is helpful for those of us trying to reach a broad audience to get out of the office every so often and get some real-world feedback.  Hopefully we can even more closely tailor the site to readers needs going forward.

After the usual Monday morning toing-and-froing, most pairs have settled back close to their NY closing levels. The big US football game is on soon and I think the majority of regional trading rooms will be paying more attention to that than to the machinations of EUR/JPY. Saints to win, 34-31.

Our Nation’s Capital is shut down by a snow storm which is projected to dump in excess of a foot of global warming onto the District. Former VP Gore was unavailable for comment…

Get in early and get the best seat in our magnificent monthly NFP tipping contest. Put your guess in the comments section and check that it hasn’t already been submitted and you too could be in with a chance to win a ‘luxurious’ (well that’s what Jamie says) Forexlive T-shirt.

I’m going to be in New York for the Traders Expo during the third week in February. We’re thinking bout having some sort of event to get-together with ForexLive readers at some point that week. Would anyone have interest in attending that sort of event if I can arrange it?

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