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The Squeaky Wheel Gets ‘Greeced’!

The Squeaky Wheel Gets ‘Greeced’!
Friday, September 16th, 2011 @ 4:45 pm by Michael Radkay

About Michael Radkay:

Michael Radkay

After receiving a BA in Economics and enjoying 4 years of Forester Football as a Strong Safety and Punt Returner from Lake Forest College in May 1989, Mike has dedicated the last 20 years of his life to the Futures and Forex industry. Mike felt this was a great way to transition his competitive spirit to the workplace. He started as a runner in the 30Yr Bond Futures pit at the Chicago Board of Trade and worked his way up to becoming a broker for a top brokerage firm by 1993. In 1997 Mike became a self-funded, self-employed trader. After trading hours from 1993 to 2004 Mike also taught people how to pit trade at the University of Trading.

In 2004 he transitioned from the trading pit to the computer screen and rebuilt the entire program at the University of Trading to cater to the screen trader. In 2007 Mike moved to Los Angeles to start his own trading education company, RDS Trader LLC. In early 2010 Mike and his wife, Stephanie, decided to join forces with DTI and head up their new DTI-FX division. Mike offers his experience and skills as a Futures/Forex trader, broker, mentor, CBOT/CME Group (acronym “RDS”) and NFA (#0250761) member to his clients. Mike developed a proprietary method taught to his students, which is known as the Rotating Directional System (RDS). This method has helped him achieve success specifically as a trader and generally in all aspects of investing.

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Euro zone officials are in talks to implement or withhold a sixth bailout to Greece because of its financial policies and over-spending. Overall it seems they are willing to go the extra mile to save Greece, but currently are not getting enough in commitments back from Bank of Greece Governor George Provopoulos. It seems the world bank heads are giving a lot of rope to Greece with the latest round of default threats to a country that claims they were the first to start the democratic system that we all enjoy. Maybe the bank heads are waiting for a pinky swear and a nice Mediterranean side salad and a life time supply of Gyro platters before they send more financial aid.

We will probably never truly know the deal but it might not be as far fetched as it sounds since they really don’t have much else to offer other than “I promise” and a nice meal. Greece may have delivered recently as the European Central Bank in conjunction with the Federal Reserve (U.S.), the Bank of England (BOE), the Bank of Japan (BOJ) and the Swiss National Bank (SNB) announced on September 15th to provide as much U.S. dollar liquidity as necessary in three different phases with a maturity of approximately three months that will keep things afloat until the end of the year.

Word of the 6th bail-out without calling it a bailout has given some life to the euro which has been getting hit pretty hard this month against the U.S. dollar and the Yen. The latest round of rescue help has given Euro investors a bit of a breather but whether it is enough remains to be seen. In the meantime you may see a bit more life to the Euro for the remainder of the year with this latest stimulus package unless anything unforeseen hits the airwaves.

EURUSD and EURJPY Daily Chart:

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“We have been successfully trading live for a living, helping others become independent traders, thinkers and decision makers since 1993 using Treasuries, Equity Indexes, Grains, Metals, Energies and now the Currency Markets”, says RDS Trader LLC’s President and CEO, Michael Radkay

The Rotating Directional System (RDS) is a rule based discretionary strategy that establishes risk management first. Our style offers the trader a trend-side philosophy that predicts time and price objectives using counter-trend reversals as a guide for entries, exits and overall worth of the trade.

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