BWILC newsletter
Dirk has started a newsletter service to focus on various forex related issues that he feels need demystifying.
His first newsletter is a very good explanation of the difference between your gearing in the market, and your brokers margin call requirements. Often times these two radically different things are dubbed leverage by the forex marketing machine of these same brokers.
To understand the difference and to help you see through the marketing smokescreen read the first installment of the newsletter here.
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Comments
Comment from Colin McGinley
Time 16 January, 2007 at 10:37 am
When the EUR-USD went from 1.36 down to 1.17 in 2005 I can only hope that my long-term view at the time would have been one of dollar neturality or bullishness. Of course it’s easy for me to say that with hindsight. In reality it’s impossible for me to know what I would have really done. I wasn’t a great follower of fundamentals at the time so it’s hard to say one way or another how I would have acted.
2005 saw the Fed raise interest rates meeting after meeting so if interest rates were correctly identified as a primary source of dollar strength, the fall from 1.36 to 1.17 could have been managed ok I feel.
Afaik, Dirk will be released all his mentoring material in stand alone format for much cheaper than his full mentoring course. He mentions more about it at the bottom of his fourth newsletter here. You might try e-mailing him for more information.
Otherwise I would just recommend keeping up-to-date with the general moves in the currency markets from one or two sources that you find suitable (there’s plenty to choose from if you visit FXStreet). I like Kathy Lien’s daily updates, as well as the Daily Pfenning e-mail. For more general reading material, I suggest just checking out my recommeded reading page.
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Comment from Naed
Time 16 January, 2007 at 9:47 am
Colin,
Thanks for all the time and effort that you have put into your website. I have spent many a weekend reading all your articles and learning. You say that you only trade one dirrection like Dirk mentions in his book. Just out of curiosity, what would you have done when the Euro plummeted from 136 all the way down 117, 2 years ago? I’m not asking you this to be cute. I’m asking you this because I too have read BWILC and trade the 4X1 stragedy. I personally have not had Dirks mentoring program. Which also brings up the question, is there a cheaper way of getting around the $1500 plus fee. I mean will reading some good books about fundamental currency trading equate more or less to what the mentoring program is about?
Thank you for your time and all your effort once again
Naed Strenner