FOREX 2010
New Year’s resolutions. Every year millions upon millions of people make them. Then, every year, 95% of people fail to achieve them. Want to guess what the failure rate for aspiring forex traders is their first year? Roughly 95%.
Coincidence? I think not. You see the same things that make it hard to achieve one’s general resolutions (e.g. lose weight, start working out, eat healthier, etc.) make it hard to succeed at forex. To lose weight it takes discipline! You have to come up with a plan. With specific goals so you know if you are achieving that plan. And, more important than anything, you have to wake up every morning and stick to that plan. There will be times when you want to get off of it. You’ll think “just this once it will be OK not work out or eat this junk food. There is always tomorrow!” The same applies with forex! If you don’t have a specific plan with every trade, every day then you will fail in the At the end of each year, the big financial media outlets typically conduct roundtables to get outlooks from key players in the financial markets. Over the past few years, the individuals that run the best financial blogs and websites have become key players in their own rights, and their opinions are highly regarded by millions of loyal readers. This year, we decided to conduct our own roundtable with some of the major names in the online financial community, and it's all available for free to anyone with Internet access!
The responses we got were incredibly insightful, and they should really help investors form their own opinions on what is to come for financial markets in the year ahead.
Too many traders have a false dream of succees, whether they know it or not. In it they have the envy of their friends, family and all. They have done something others can not – conquered the markets. Quit their dayjob. Mastered complex financial instruments. Wall Street? Who needs it – you can earn hundreds of dollars every day as you sip coffee and click your mouse. Friends are envious and everyone talks about how lucky you are to be so smart and to have such a nice life. You can wake up when you want, follow your own schedule and answer to nobody.
Are those things possible? Yes. Unfortunately you will never achieve them until they are completely purged from your head.
In this post I’ll dive into what I think should be in you head everytime you sit down to trade. And, more important, what should not be in there. Below is a list of our roundtable participants. We have created a page for each of them that has all of their responses, and we encourage you to visit their websites as well if you haven't already done so.
A Dash of Insight - 2010
Bespoke Roundtable Q&A
Crossing Wall Street - 2010
Bespoke Roundtable Q&A
Financial Armageddon - 2010
Bespoke Roundtable Q&A
Footnoted.org - 2010 Bespoke
Roundtable Q&A
Paul Kedrosky's Infectious
Greed - 2010 Bespoke
Roundtable Q&A
Investment Postcards - 2010
Bespoke Roundtable Q&A
The Kirk Report - 2010
Bespoke Roundtable Q&A
Random Roger - 2010 Bespoke
Roundtable Q&A
The Reformed Broker - 2010
Bespoke Roundtable Q&A
VIX and More - 2010 Bespoke
Roundtable Q&A
Wall St. Cheat Sheet - 2010
Bespoke Roundtable Q&A
World Beta - 2010 Bespoke
Roundtable Q&A
To start off the roundtable,
we've created a matrix
highlighting prognostications for
various asset classes in 2010.
Not all participants took part in
this section of the Q&A, but the
ones that did are included in the
matrix below. As shown, the
consensus view is that the S&P
500 will be up in 2010, bonds
will be down, oil will be up, the
dollar will be up,
prices will be up, and
stock market will be up. The
projection for gold was
split.cPlease visit the individual
Q&A pages (links above) to
view each participant's
projections along with price
targets where applicable.
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