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Wednesday 20 October 2010

Is Perfection the Enemy of Good?

Faceless Bureaucrat: Well call me a perfectionist if you will but I'm not finding the trade that meets the exacting criteria I've been given.  But I'll let you in on a secret, despite having had no success as yet with the stocks I have not given up because there is Hope.  At the end of my two day course I signed up for another course - in Foreign Exchange trading, otherwise sexily known as "Forex".

Why Forex?  Well the traders who were there supporting the course told me that it's far more interesting, fast moving and lucrative than stock trading.  And because of its size - three trillion dollars a day traded - it's far more difficult to manipulate so you don't get the level of insider knowledge affecting your technically placed trades.  This makes it a more predictable market to trade.  Faceless Bureaucrat likes the sound of predictability when one is looking for trading action.  The traders tell me that Forex is ideal for intraday trading (where you get in and out of a trade in hours or even minutes - sounds exciting!) and once you've mastered the trade you really can generate an income to live off.

So although I continue to run my searches for bouncing share prices to get a good short term deal I am really now holding out hope for the Forex training turning me into that Bad Assed Trader I so yearn to be.

Meanwhile, it's touch and go as to whether FB will still be in a job post April.  Although the NHS has come off relatively lightly compared to other sectors in public service in the Spending Review our region is looking to cut management costs by about half.  Our team, which provides support to other teams who are top sliced to fund us, have been told we have to be self funding after April.  In many ways this seems eminently sensible, we know that those who we support value us as we continually evaluate their satisfaction with our service, but whether they will still feel able to pay for us once the mechanism to do so becomes more Pay-as-you-go remains to be seen.  It'll cost more to administer that's for sure...

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