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MFGlobal has signed today chapter 11, which means: Bankruptcy. It is about 43 Milliard USD in total. Not much compare to Lehman Brothers, but still enough if you hang in it with some little money.:mad:

One of the big players for derivatives on Wall street.

They speculated with Greek Bonds and hounder'ts of millions of USD are missing in there accountings.

As it is a company, which does also the transaction between different market participants, they gave the guarantee that they not will use money from accounts of there customers. So far, this seems to be truth until at the moment ( Tuesday Morning 01.11.11 )

Even than: If you have an account with MFG, think about what you do with that account.

Update: They traded with customers accounts :

Update: All client accounts are frozen. Means, you not can transfer any money to an other broker until the liquidators give them free. What can be done is to request a payout of your funds to your private account or to your company account. Even than, this can take a while until the case is settled.

So what do we learn with that or what confirmation do we have again: Never ever give all your trading money to just one broker, even if he is very big.
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The Papandreou's from Greek and the Euro.

If you do not know, who Papandreou is, then you any way have no idea what is going on in Greece.

The Papandreou family is one of the three dynasty's in Greece. Is any one believing that all his effort to solve the Greece Government Problems has to do with the people of Greece?

He plays a Billion Euro poker with other governments to safe and make first money through that to his clan and then to the people of Greece.

As his clan owns big business in Greece, they would immensely profit from any money which is free to them and from any dept on any bank they are involved in which is reduced to 50% of the value it was at the begin.

It looks like that the people of Greece started to realize this facts and the European Governments have realized what kind of rubbish and false guy this Papandreou is.

Hopefully they push him out of government and if not, they will go bankruptcy and the market will say: Thank you you little .........
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He is LSE educated. He is also known to take big bets. Like he took bet of throwing news of referendum, which he cancelled yesterday. And after all, he is just not ready to leave his leadership and let someone else from his party take it forward.


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I like his appraoch to take bold action to get things/people on track.
With this bomb, he finally managed to get opposition agree to form coalition govt.
He might not be next PM/leader but atleast parties will sit togather and face the EU/IMF togather.
Sunny, better to treat all money with same respect. If you don't inculcate right habits now (your mind will learn the wrong things.. and I am sure you know it well that how easy it is to learn wrong thing).. And later on you will spend extra time/energy /money to unlearn them.

If you have small account, you can still follow risk mgmt/money mgmt fundamentals. Later on as account grows, it will be just matter of changing the multiplying factors... You would become master of these rules by the time your accout grows..

And when u take off from market, it should be no trading when mkt is on..If mkt is closed, or you have other demanding task, that should not qualify as trading break.

just my views.
As always very lucidly write up by you. how manage to explain in such a lucid way.

And of course I remembered setting loss limits but reserved your advice for future use as I have kept my capital very low.

well I agree too wth Swamy's suggestionand next 3 days is holiday I will keep away my mind from market and trading . only relaxation and meditation .

From monday I will keep my number of trades very low and rest of trades will
be paper trades.

Will try lots paper trades. lets see what happens.

Will be reporting next week .....
Dear Sir, Can u pl help me in finding the right place where i can try paper trading ??



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Dear Friends,

Holi unites friends and foes. Hence, the Bulls and the Bears too... No wonder the markets are closed today to respect their friendship.

Have a colourful and funfilled Holi...

Best wishes and Regards,

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