Joseph Trevisani's New Year Resolutions

• Stop Being Reflexively Contrarian

“I have a tendency against which I should perhaps be on my guard, and that is to swim against the stream." Winston Churchill
 
In trading, not just currency trading but any market activity,  the iconoclast gets few rewards. Markets are not mechanism for arriving at economic truths. There is no correct level for the euro or the yen only a price related to  information and market positioning. Although there are instances  where  markets  have been predictably  obtuse and vast profits were made on the opposite tack, the sub-prime market in 2007 and 2008  is the best recent example of that. Most of those earnings were made in synthetic positions that became impossible to recreate once the market started to move.  In currency trading, where any participant may join any move at any time,  the most profitable tactic, though not perhaps the most emotionally rewarding, is allied to the general view. Look to the arts for emotional rewards, in trading only profits count.

• Remember that in Writing the Hardest Part is Starting

Every post seems like a hill, every article a mountain, and every book the Himalayas.  Keep in mind Lao Tzu:  “A journey of a thousand li starts beneath one’s feet”.
 

• Give More of Myself

Nothing makes one more aware of our limited time than our children.  There is no reliving the moments that flit past us each day. There is no next summer, they will be different and so will we.  It is the simplest creed and the hardest to follow. Pace Rob Booker


Joseph Trevisani  began his twenty-four year career in the financial markets at Credit Suisse in New York and Singapore where he worked for 12 years as an interbank currency trader and trading desk manager. Returning from Asia he moved to Bermuda and managed the Asian Trading desk and was a proprietary currency trader for The Bank of Bermuda in Hamilton. Mr. Trevisani joined the on-line financial industry in 2001 as one of the founding partners of FX Solutions. Over ten years he served as in turn as Chief Dealer, Head of Institutional Sales and Chief Market Analyst. He joined Worldwide Markets in 2012 as Chief Market Strategist. [More about Joseph Trevisani]