How your behavior can affect your finances – video link

https://anc.yahoo.com/video/behavior-affect-finances-104641031.html

 

[ON THE MONEY] When it comes to finance, it’s easy to work the numbers. Understanding how the brain works on the other hand and how it affects our behavior is a more trenchant task. This understanding is crucial to investing because every decision to buy or sell is secretly affected by biases that are lodged deep inside our minds. On The Money is joined by Larry Cao, a chartered financial analyst from Hong Kong, who will tell us three important biases each investor has to fight.

Strange Trader deaths ongoing 2014

Various stories below:

Trader kills self in finance world’s latest suicide 

Another Trader Commits Suicide, Brings Total Recent Banker Deaths To 10

NYC trader suicide becomes 11th this year in financial community

8th Banker Commits Suicide: JP Morgan Hong Kong & 30 Stories Down!

Banker Found Dead Marks Twelfth Finance Suicide To Date This Year

An NYC-Based Trader Committed Suicide Tuesday Morning

Yet Another Suicide in the Financial Services Industry: Is There Something Going On?

 

 

Strange Trader deaths 2014 cntd.

http://www.zerohedge.com/news/2014-02-18/third-jpmorgan-banker-jumps-his-death-hong-kong-said-be-33-year-old-fx-trader

 

Second JPMorgan Banker Jumps To His Death: Said To Be 33 Year Old Hong Kong FX Trader

 
Tyler Durden's picture

The banker suicide wave that started in late January has now become an epidemic, and it seems to be focusing on one bank: JP Morgan.

After the first suicide that took place in JPM’s London headquarters, ending the life of 39 year old Gabriel Magee, a vice president in the investment bank’s technology department, next it was 37 year old Ryan Crane, an executive director in the firm’s program trading division, who died under still unknown circumstances.

Moments ago a third JPMorgan banker committed suicide, this time at the JPMorgan Charter House Asia headquarters in central Hong Kong, where a 33 year old man who was said to have been an FX trader for JPM, just jumped to his death.

Not much is known yet about the circumstances of the suicide, however according to early reportsthe man was 33-years-old, surnamed Lee, and believed to be a forex trader for JP Morgan.

Commuters noticed the man at the top of Chater House around 2pm to 3pm in the afternoon and called the police but policemen who arrived at the scene failed to convince the man not to jump. The deceased was sent to the hospital immediately but was pronounced dead on arrival. As several lanes on Connaught Road Central were closed because of the incident, traffic in the area were chaotic.

Strange Trader deaths 2014

http://www.reuters.com/article/2014/03/06/us-bitcoin-death-idUSBREA2505120140306

 

Singapore police probe ‘unnatural’ death of American CEO of bitcoin trader

SINGAPORE Wed Mar 5, 2014 9:34pm EST

(Reuters) – Singapore police are investigating what they have called the “unnatural” death of a 28-year-old American woman who ran a small exchange that traded virtual currencies, including bitcoins, from the Asian city state.

Autumn Radtke, chief executive of First Meta Pte Ltd, was found dead at her Singapore home on Feb 26.

“The police are investigating the unnatural death,” a police spokesman said late on Wednesday when asked about media reports Radtke had been found dead last week. He gave no more details.

First Meta said in a statement on its website that its team was shocked and saddened by the tragic loss of its CEO.

“Our deepest condolences go out to her family, friends and loved ones. Autumn was an inspiration to all of us and she will be sorely missed.”

Before heading up First Meta in 2012, Radtke had business development roles at tech start-ups Xfire and Geodelic Systems, according to information on her LinkedIn profile.

First Meta runs an exchange for virtual currencies and assets. It initially functioned as an online trade platform for the currency used in online world Second Life, and then expanded to other games. Last year it allowed users to sell bitcoins for dollars. That feature is not currently available.

(Reporting by Rujun Shen and Saeed Azhar; Editing by Mark Bendeich)

Strange Trader Deaths 2014 cntd.

http://rt.com/business/liechtenstein-bank-chief-dead-341/ 

Fatal finance? Bankers in Netherlands, Liechtenstein found dead

A former executive of the Dutch bank ABN AMRO has committed suicide after killing his wife and daughter, and the head of Liechtenstein’s Bank Frick has been found shot dead in a car park. The suspect in the Frick shooting had a grudge against the bank.

Jan Peter Schmittmann, the 57-year old former head of domestic operations at ABN AMRO was found dead on Saturday in the wealthy Amsterdam commuter town of Laren. He was discovered along with the bodies of his 57-year-old wife, and 22-year-old daughter.

The mother and daughter were killed by the father, after this the father killed himself,” Reuters cites a police statement. Police said that Schmittmann left a suicide note, but did not provide any further detail.

Family members said that Schmittmann had suffered from serious depression.

Schmittmann left the bank in 2008 after nationalization, At the time ABN AMRO was one of the largest banks in the world, a household name and a symbol of Dutch financial strength. As compensation he was promised a $21.99 million pay off. In the end he got only half, as Finance Minister Wouter Bos considered the sum exorbitant.

Since 2010 he was the owner and director of 5 Park Lane, a company that advised private equity investors.

This is the second unusual incident related to ABN AMRO in the past five years. In 2009, former chief financial officer Huibert Boumeester was found dead in woodland near London in an apparent suicide a year after he had left the bank.

In 2007 Royal Bank of Scotland, acquired ABN AMRO at the height of the economic boom for $100 billion. But the financial crisis forced the Dutch state to nationalize its domestic operations, resurrecting the ABN AMRO name.

On Monday, another bank chief executive was found dead in Liechtenstein.

Juergen Frick, the 48-year old head of Liechtenstein-based Bank Frick was found shot dead in a car park. Police believe Juergen Hermann, a former fund manager, shot the banker and then took his own life, according to Swiss media.

Police said they believe Hermann, who escaped from the scene may have taken his own life. They said they found his abandoned car with his passport and a confession that included “parting words”.

On the suspect’s website, he refers to himself as the “Robin Hood of Liechtenstein” and is reported to have spent years acting against Bank Frick and the Liechtenstein authorities over financial matters.

These recent fatalities add to the growing number of suicides and mysterious deaths in the financial world. Three sudden deaths at JP Morgan and 6 in the global financial world happened in just few weeks in February.

Financial jobs are notorious for extra-long hours and huge level of stress.

Notes from Forex Bootcamp 31st March-1st April

We covered:

  • All strategies
  • Price Action – bullish, bearish, indecisive
  • Cyclicity- swing lows, swing highs
  • Stop and profit management
  • Risk management – maybe also advanced IG’s
  • Horizontal levels- round numbers – 1.3500, 1.3000. 1.0000
  • Timeframe correlation 5, 15, 30, 60, 120, 240, 480, 960, D, W, M
  • Trade plans
  • 6 human needs
  • MACD, RSI, Stochastics divergence
  • Fibonacci levels, pivot levels
  • Trade checklist

Sidenote comments: Convergence/Divergence, much more useful when waiting for indication of expected reversal of trend- used by master traders to trade reversals. Trend line – only temporary, and useful to identify trend channels, and only for as long a they last. Trendline is drawn on extremes, with at least 2 touches, probably 3. I use a best-fit approach.

General Income Generator Notes

Trend trading strategy, works by identifying P2 pullbacks/retracements

The indicator creates signals by: Identifying trend direction, using 5&20EMA’s. 5/20 is uptrend, and 20/5 is downtrend.

Identifying P1 or P2 using envelopes around the 5EMA.

 

DEVELOP YOUR OWN TRADING PLAN

1. Markets/charts to be traded e.g. Stocks, Forex, Commodities (Anything that’s trending, liquid, with decent spreads)

2. Timeframes on charts to be traded e.g. Daily, 960, 480, 240, 120, 60, 30, 15, 5

3. The hours you will trade- e.g. 5am-9am, after 9pm, or before 7am.

4. Trading strategy:

Definition of a strategy; a description of the conditions required to enter, manage and exit a trade.

e.g Sniper short: when price is below the 50EMA on Daily, 240, 60min, then enter short live when price touches the 50EMA on the 5min timeframe, with a stop of 20 pips, and a target of 20 pips. All time frames, must be trending nicely, and in phase 1. Before entering, check that price is not too over-extended on any of the higher timeframes, or in phase 2.

5.Risk management: Maximum 1% per trade, but if a series of losses occurs, to improve my emotional resilience, I will reduce risk per trade down to as little as 0.25%

6. Stop management

7. Target/Profit management

 

Trade checklists: PIVOTS (1:0.5 -> 1:2.5)

1. Trend in place (Optimal chart structure)

2. Higher timeframe 60, 240, 480 at least, 960, Daily, Weekly, Monthly bonus PIVOT

BONUS points:

– Daily, 480, 240, 60 is just starting phase 1- means lots of room to run.

– Price action, high-test, low-test, inside bar, outside

– Break and retest S/R (Round number extra)

– aligns on top of monthly and/or weekly pivot.

– Fib level S/R – Moving S/R 20/50 EMA

Stop management – place stop as close as possible, while protected by moving averages, fib levels, S/R levels, other pivot levels, price action. Once triggered, leave to run, unless multiple rejections of some S/R level before your target.

Profit taking/management – Leave to hit target, or close if clear resistance level has appeared.

Optimal Pivot 01
Optimal Pivot 01
Optimal Pivot 02
Optimal Pivot 02

SNIPERS (1:1)

1. Trend in place (Optimal chart structure)

2. Higher timeframe in at least 3 higher charts e.g. 30min->240, higher timeframes in agreement, just more of a bonus.

3. Monthly is in agreement, with trend AND phase, is a bonus

SNIPER BONUS points:

– 240min is just starting phase 1- means lots of room to run.

– Price action, high-test, low-test, inside bar, outside

– Break and retest S/R against pivot or moving average (Round number extra)

– Fib level S/R – Moving S/R 20/50 EMA

– bonus if bouncing off cluster of MA’s 20+50

Stop management – 20 pips, do nothing.

Profit taking/management – 20 pips, do nothing.

Optimal Sniper 01
Optimal Sniper 01
Optimal Sniper 02
Optimal Sniper 02
Optimal Sniper 03
Optimal Sniper 03

INCOME GENERATORS (1:1 -> 1:3)

1. Trend in place (Optimal chart structure)

2. Higher timeframe weekly minimum

3. Monthly is in agreement, with trend AND phase, is a bonus

4. NB. NO trades against weekly trend direction!!!!

IG BONUS points:

– Weekly is just starting phase 1- means lots of room to run.

– Price action, high-test, low-test, inside bar, outside

– Big bonus is small candle/bar, smaller than average- better risk:reward

– Break and retest S/R (Round number extra)

– Fib level S/R

– Moving S/R 20/50 EMA

Stop management – place stop as close as possible, while protected by moving averages, fib levels, S/R levels, price action. Once triggered, only update to 5-10pips behind daily once bar/price has demonstrated a clear move and close away from the entry. Trail until stopped out.

Profit taking/management – Either close out when 1:1 target is hit, or take 50% off, or close out when key S/R level is hit, or close out if price does a big move and closes outside of outer envelope.

Optimal IG structure 01
Optimal IG structure 01
Optimal IG structure 02
Optimal IG structure 02
Optimal IG structure 03
Optimal IG structure 03

Items all the coaches agree on:

1. Price action – shape of bars/candles, trend.

2. Higher timeframe correlation

3. Horizontal levels as S/R

4. Fibonacci

Generally understood to be useful additions: Trendlines, Convergence/Divergence indicators, Moving averages, pivots