The Lawrence Chan Blog
I have diverse interest in many things from science and technology to martial arts and ancient health practices. Obviously, discussion of these topics should be done within my own blog as oppose to keeping them here. Hence my blog is created so that I can have a venue to express my creativity and thoughts on my other interests. For those of you who share similar interests, you can check out my site TheLawrenceChan.com
Due to the sheer volume of articles I have written about trading, many of which are trading related yet not technically in line with what DaytradingBias.com is offering, they have to be split from my blog into yet another site. Hence for my non-technical writings about trading, videos I have curated from various sources that I think are useful for traders and my reviews of trading related products, you can find them at the site Essence of Trading
The reason why I picked the Tai Chi picture above for this page is best explained by my article Tai Chi Traders in a World of Chaos at Essence of Trading.
Below are the old blog posts that were originally posted here. To avoid broken links from other sites, I have decided to keep them here.
Another Forex Conspiracy (Sort of) Proven To Be True
2014 Mar 13 Thu 9:52:50 | by
It is known, for the longest time, that "some" banks like to save their clients’ forex orders together and then front run them all by London close. It was a conspiracy theory that the banks denied until, well, they were exposed.
As reported by Bloomberg back in early February,
"Bank of England officials told currency traders it wasn’t improper to share impending customer orders with counterparts at other firms …"
What? It is not improper?
Such activity is known as front running by any normal financial securities jurisdiction. I am confused. I am confused because I learned long time ago that front running is an absolute red line you are not allowed to cross. Yet, it is allowed for some banks and some traders trading certain forex markets.
I guess central banks do not follow normal human rules, regulations and most important of all, common sense.
As reported today, this practice is so well known that people learned to taken advantage of them. The trader mentioned in the piece, Caspar Marney, even teaches how to do so from this piece by The Guardian. It is not something complex though. After all, bang the close is a dirty trick common across all markets, not just forex.
Another conspiracy theory proven to be true.
Are we surprised anymore after so many dirty works are exposed last year?
ECB Take Down On Euro Begins
2014 Mar 10 Mon 9:10:48 | by
We all know it is going to happen once euro shot above 1.38.
From Reuters, ECB’s Noyer says ‘not happy’ with euro’s rise
So this time what level do they want?
Trading Related Multimedia Creation And Curation
2014 Mar 9 Sun 20:24:08 | by
Some of our readers here probably noticed that we have several posts published with quotes from famous traders.
They are actually done by a close friend of mine who is fascinated by these famous traders. She likes to take on this project in creating a column for me here at DaytradingBias.com. I am not sure how it works going forward. I am leaving both the content and design aspects of her column to her discretion.
It is going to be something very different from what I do. I think it is nice to have a diversity of curation for the site though.
The new posts for her column will be published under her handle, when she finishes picking one she likes. =)
Mark Fisher on Planning
2014 Mar 9 Sun 18:53:39 | by
Know what you want to accomplish, how you intend to get there, and what you will do if it does (or does not) work out. Have a plan and stick with it.
That works in trading, as well as in life.
– Mark Fisher
Embed This Image In Your Site (copy code below):William Eckhardt on Taking Profits
2014 Mar 8 Sat 11:41:15 | by
One common adage…that is completely wrongheaded is: You can’t go broke taking profits. That’s precisely how many traders do go broke. While amateurs go broke by taking large losses, professionals go broke by taking small profits. – William EckhardtEmbed This Image In Your Site (copy code below):
Patience is the key to success not speed. Time is a cunning speculator’s best friend if he uses it right. – Jesse Livermore Embed This Image In Your Site (copy code below): Jesse Livermore on Patience by DaytradingBias.com …
I’ve read and discuss about what happens in Ukraine since last week with many parties who are directly affected by the event. These stake holders all mentioned the same thing which I pointed out to the others – pipelines. Specifically, the natural …
Looking back over the past year when we first started the project to build cloud based real-time trading tools, I have no idea it is that difficult. After all, real-time data vendors have been delivering such data for many years. I thought the techno …
Microsoft made it clear that October 31st 2014 is the last day you can get computers with preloaded Windows 7 from PC hardware manufacturers. What that means though is that the PC vendors would likely have a cut-off date for orders well before the de …
Took this picture while on the road so it is not as clear as I hope for. Anyway, can you tell what the license number is? Yep, STUVWXYZ =) …
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