My markets education began on the floor of the Chicago Mercantile Exchange. I learned the hard way, and with the help of many locals, people who were putting their own money at risk every day to make a living. They were often on the other side trades from of the “smart” institutional money. They were scrappy and survived on their wits and their own analysis distilled from reading and “feeling” of the market. A few decades later, the respect I have for locals in the futures market, which has carried over to retail fx, has not diminished.
Cool Video: TDAmeritrade Network–FOMC, Repo, Brexit and More
When TDAmeritrade reached out to invite me to do a show about a year ago, I was excited to talk to futures traders again. Ben Lichtenstein and his team are high-energy, engaging, focus on the drivers. I had another opportunity to earlier today. The squeeze in the funding market is of historic proportions and the FOMC’s decision was still ahead. We also were able to talk about Brexit and the BOJ a little. The clip is here and runs for almost 10 minutes.