Ana_Idkit

Stay tuned for Ray Barros on Tue Sep 8 09 @ 11am – 12 noon for CNBC Cashflow.

Details to follow in due course

This is the third part , cross ref from

http://tradingsuccess.com/blog/
NFA Rule 2-43 (b): “first-in, first-out” (FIFO) II

Posted by ray under Miscellaneous

BarroMetrics Views: NFA Rule 2-43 (b): “first-in, first-out” (FIFO) II

The story so far:

1. The NFA wanted to abolish the practice of hedging.
2. It did so using the ‘First-in, first-out’ rule.But this had an intended consequence for brokers using a position-based system of accounting.

Faced with their clients being unable to place stops, limit orders etc, the affected brokers where possible swung their clients to their offices outside the USA. The response to this maneuver was in some quarters particularly vehement.

But before I get into that, let me acknowledge that the NFA Regulations have been used as scare tactics to sell anything from software to by-pass the regulations to moving accounts overseas. Traders should be aware of the facts and not be stampeded into hasty decisions.

Now let’s turn to those responses.

Firstly, there is the suggestion by asking a client to move an account ex-USA, we are ignoring the fact that the NFA is there to protect traders’ interests against ’shonky’ brokers.

But in respect of this regulation, the intent was fine but the execution was not. By equating FX positions with Futures, the NFA asked a whole section of the FX broking community to change their entire accounting structure or to find an alternative to the regulations. If I were an affected broker, I’d know what route I would choose.

Secondly there is the implied suggestion that by shifting an account ex-USA, we are moving accounts from a safe, well regulated environment to Wild West neighbourhood.

But this is just not so. In my view the US FX regulatory regime is merely adequate, at best. There are a number of alternative locations which offer far better protection – to name but two:

* In Singapore, the Monetary Authority of Singapore is far more stringent and does a far better job protecting FX traders than the NFA. Take a look at the Refco FX affair. In Singapore not a single FX client lost his funds. In the USA, due to Refco’s failure to keep segregated accounts, (I understand) US clients received $0.20 – $0.40 in the dollar.
* In Switzerland, FX brokers have to obtain a banking license. As a result, all accounts up to $SF100K are guaranteed by the Swiss Government against broker malfeasance.

The effect of the NFA regulations will probably drive some clients overseas. At some point, US brokers using a net-positions will have to decide whether to change their accounting process or abandon the US.

Cross ref

http://www.facebook.com/note.php?note_id=256997640721&ref=mf

I thank Diane Beeler, Guest Author, of Goodwill Ambassadors, under the heading:

Ishmael Beah: From Child Soldier to UNICEF Goodwill Ambassador dated August 29, 2009.

In this world and time, it is unbelievable that such abuses of children are still encountered in some countries like in Africa and South America.

In 2003, I was persuaded by the former Ambassador of Peru to Singapore, Juan Carlos Capunay, to write a poem on children who are abused for a benefit concert. I started to read up on such topics scouring the bookshops for such books. After some research on such abuses for a few months, I was ready to put to paper some lyrics to be put to music by American Dr John Sharpley for a benefit concert to help the Children’s Cancer Foundation in Singapore.

On May 13, 2004, I wore five hats as Producer, Promoter, Chairman, Underwriter, & Librettist to premiere L’Enfant Sauvage, a gala benefit concert at Esplanade Concert Hall, Singapore with Guest-of-Honour, Mrs Goh Chok Tong (wife of then PM Goh Chok Tong).

The benefit concert was a great success due to the contributions of all artists from US, Australia and Malaysia, working hand in hand with our local artists. I also received generous support from friends, sponsors and patrons to raise a substantial fund for the Children’s Cancer Foundation. Many foreign dignitaries also attended to support , including my good friend, the former Ambassador of Italy,Dr Guido Scalici.

Now, I would like to share : Excerpts of my poem – L’Enfant Sauvage

We are the lambs sacrificed in war
Help us to disarm,
Safely dispose and demobilise.
Release us as child soldiers.
In order to reintegrate,
Help us back with education.

Watch out for the landmines!
Run! Help us!Quick! hide!
Stop hurting us! We’ll kill you!
Stop! Please, let us go!

We are the lambs sacrificed in war.
Forgive us so we may heal.
Keep us off the battlefields.
Protect us with a ’straight eighteen’ ban.
We cannot wait. We are the seeds of hope.
Help us stop the wars.

We are the lambs sacrificed in war.
Give us peace.
………….

I am sucked
Into endless battles.
How long will it take
Before things get better?

I cannot feel the pain
If I don’t see it.
If I do, it will pierce my heart
Like a sword,
stinging as ‘little bees’.

When I killed
was it me?
Had I not
would a difference be?

I was wife to a commander
Then to his soldiers and more,
Slave to them all.

I play in the fields
I kick – is it a ball
Or is it a bomb?
In the end,
Will I be whole?
In the camp
I am starving.
I am suffering.
Will there be release?
Would it be death?

Chorus:
Om, om, om
We cannot wait.
We are the seeds

Soprano:
You are our future,
Our destiny.

…………….
Chorus:
We want to go
To school
To learn
To write..

Soprano:
…About your country,
The futility of war.

……………

Chorus:
We will be free

Soprano:
Om, om
You will be free, Om
You will be free
You will be home free

Chorus:
Home free!

When I read about Ishmael Beah, who actually was a child soldier and his ordeal to finally turn over to become a UNICEF Goodwill Ambassador, I wish to share with him and all at Ambassadors of the World the realities of such abuses still going on in this 21st century. This should never have happened and the fact that it did and can still continue in some poor countries speaks volumes that something must be amiss.

With the spread of education and social pressures brought to bear on recalcitrant countries, there must be hope that we never see such abuses ever again perpetrated on young innocent children.

If all the Goodwill Ambassadors join in to send a strong message to these perpetrators, especially over the net, we may never see such atrocities again.

Our generation has the responsibility to leave them a legacy of peace, understanding and friendship and to heal those who have suffered.

Anna Wang
Ambassador , Global-Globcal
http://www.facebook.com/pages/Ambassador-Anna-Wang/109269581658#/pages/Goodwill-Ambassadors/122180603637

Booklet of L’Enfant Sauvage, please read hereunder by clicking:
booklet_ls(2)

Key economic data for the week starting August 31, 2009. Numbers shown are consensus estimates (market anticipates this value) and prior value.
Monday:
9:45 AM CHICAGO PMI (Aug): 47.4 / 43.4
Tuesday:
NEW VEHICLE SALES (Aug): 12.8M / 11.2M

10:00 AM ISM – MANUFACTURING (Aug): 50.1 / 48.9

CONSTRUCTION SPENDING M/M (Jul): -0.2% / 0.3%

PENDING HOME SALES M/M (Jul): 1.6% / 3.6%
Wednesday:
8:15 AM ADP EMPLOYMENT CHANGE (Aug): -250K / -371K

8:30 AM NON-FARM PRODUCTIVITY (Q2 F): 6.2% / 6.4%

10:00 AM FACTORY ORDERS M/M (Jul): 1.8% / 0.4%

2:00 PM FED MEETING MINUTES
Thursday:
8:30 AM CONTINUING CLAIMS Aug-22: n.a. / 6133K

INITIAL CLAIMS Aug-29: 560K / 570K

10:00 AM ISM – NON-MANUFACTURING (Aug): 48.0 / 46.4

11:00 AM ICSC CHAIN STORE SALES Y/Y (Aug): n.a. / 0.7%
Friday:
8:30 AM NON-FARM PAYROLLS (Aug): -225K / -247K

UNEMPLOYMENT RATE (Aug): 9.5% / 9.4%

AVERAGE HOURLY EARNINGS M/M (Aug): 0.2% / 0.2%

MANUFACTURING PAYROLLS (Aug): -60K / -52K

Readers of India

Stay tuned for Ray Barros on NDTV PROFIT for Thru Sep 3 09 @ 1pm SinTime.

Topic _ Global Markets

Readers of India

Stay tuned to Ray Barros on UTV Business New on Wed Sep 2 09 @ 12 noon Sin/HK time

Topics-Global markets and crude.

President Barack Obama

to Ana Wang
date Wed, Aug 26, 2009 at 11:59

Ana — Michelle and I were heartbroken to learn this morning of the death of our dear friend, Senator Ted Kennedy. For nearly five decades, virtually every major piece of legislation to advance the civil rights, health and economic well-being of the American people bore his name and resulted from his efforts. His ideas and ideals are stamped on scores of laws and reflected in millions of lives — in seniors who know new dignity; in families that know new opportunity; in children who know education’s promise; and in all who can pursue their dream in an America that is more equal and more just, including me. In the United States Senate, I can think of no one who engendered greater respect or affection from members of both sides of the aisle. His seriousness of purpose was perpetually matched by humility, warmth and good cheer. He battled passionately on the Senate floor for the causes that he held dear, and yet still maintained warm friendships across party lines. And that’s one reason he became not only one of the greatest senators of our time, but one of the most accomplished Americans ever to serve our democracy. I personally valued his wise counsel in the Senate, where, regardless of the swirl of events, he always had time for a new colleague. I cherished his confidence and momentous support in my race for the Presidency. And even as he waged a valiant struggle with a mortal illness, I’ve benefited as President from his encouragement and wisdom. His fight gave us the opportunity we were denied when his brothers John and Robert were taken from us: the blessing of time to say thank you and goodbye. The outpouring of love, gratitude and fond memories to which we’ve all borne witness is a testament to the way this singular figure in American history touched so many lives. For America, he was a defender of a dream. For his family, he was a guardian. Our hearts and prayers go out to them today — to his wonderful wife, Vicki, his children Ted Jr., Patrick and Kara, his grandchildren and his extended family. Today, our country mourns. We say goodbye to a friend and a true leader who challenged us all to live out our noblest values. And we give thanks for his memory, which inspires us still.

Sincerely, President Barack Obama

Barrometrics Views: An Evening with ACM

Cross ref

http://tradingsuccess.com/blog/an-evening-with-acm-1138.html#respond

Last night I was one of the speakers at the soft launch of the ACM in Singapore. (http://www.ac-markets.com/forex-broker/online-forex-broker.aspx).

ACM is a Swiss FX broker. The advantage to FX traders is this: the Swiss regulations require a broker to acquire a banking license. A Swiss Bank deposits of SF$100,00.00 and under are guaranteed by the Government. For amounts over SF$100,00.00, ACM will provide a bank guarantee. This makes Swiss FX brokers the safest in the world. In other jurisdictions. you are dependent on the efficacy of the regulatory environment for the security of your funds.

At time of writing, the ACM banking license is pending. The application has been lodged and the favourable decision is due October 2009.

What I found interesting last night was the fact that none of the ACM presenters made a point of this. My view is that for Singaporeans, the security of funds for Singaporeans will more than offset the fact that at present ACM does not have offices here. Singaporeans need a good reason to open accounts with firms outside Singapore.

In terms of attendees, the evening was a smashing success. The event was booked out, but in Singapore, for free events, you can expect up to a 33.33% ‘no-show’ rate. Last night was an exception. There were more attendees than bookings! Early on ,the hotel staff was kept busy bringing in seats!

From my perspective my talk went very, very well. I focused on:

* Winning Psychology – the role that Myelin plays in the learning game and how to use it in conjunction with journal keeping. The discovery of Myelin and the learning process that optimises its growth is the biggest news in the past two centuries for anyone learning a new skill.
* Risk Management. Here I focused on the Expectancy Return Formula and suggested some ways we can apply it to our trading. Though not new, an understanding of the Expectancy Return formula and its consistent application to our trading greatly improves the bottom line.

As is common in Singapore when asked if there were any questions, not one hand shot up. Yet the moment the evening ended, thirty or forty participants surrounded me. I brought the evening to an end one hour later – it appeared that some would have stayed all night! (G)

Usual disclaimer: I am not an Introducing Broker and I do not receive a fee for anyone becoming an ACM client. I volunteered to speak for ACM because I have found the service first class, the spreads efficient (the lowest I have been quoted – on par with Dukascopy), and once it has its banking license, ACM like all Swiss brokers will be the safest haven for out FX fund.

Key economic data for the week starting August 17, 2009. Numbers shown are consensus estimates (market anticipates this value) and prior value.
Tuesday:
9:00 AM S&P CASE SHILLER INDEX (Jun): n.a. / 139.84

S&P CASE SHILLER Y/Y (Jun): -16.4% / -17.1%

10:00 AM CONF.BOARD CONSUMER CONFIDENCE (Aug): 48.0 / 46.6

RICHMOND FED MANUF. INDEX (Aug): 14.0 / 14.0

HOUSE PRICE INDEX Q/Q (Q2): n.a. / -0.6%

HOUSE PRICE INDEX M/M (Jun): 0.4% / 0.9%
Wednesday:
8:30 AM DURABLE GOODS ORDERS M/M (Jul): 3.2% – 2.2%

DURABLE GOODS ORDERS EX-TRANS M/M (Jul): 1.0% / 1.6%

10:00 AM NEW HOME SALES SAAR (Jul): 390K / 384K

NEW HOME SALES M/M (Jul): 1.6% / 11.0%
Thursday:
8:30 AM GDP (annualized) (Q2 P): -1.4% / -1.0%

GDP DEFLATOR (annualized) (Q2): 0.2% / 0.2%

CONTINUING CLAIMS Aug-15: n.a. / 6241K

INITIAL CLAIMS Aug-22: 565K / 576K
Friday:
8:30 AM PCE DEFLATOR Y/Y (Jul) (H) -0.9% -0.4%

PCE DEFLATOR Y/Y (core) (Jul): 1.3% / 1.5%

PERSONAL INCOME M/M (Jul): 0.1% / -1.3%

PERSONAL SPENDING M/M (Jul): 0.2% / 0.4%

10:00 AM MICHIGAN CONSUMER SENTIMENT (Aug F): 64.5 / 63.2

Readers of India

Stay tuned for Ray Barros on NDTV PROFIT India on Wed Aug 26 09 @ 1035am Sin/HK time.