There are some people emailed me before and asked me what is the spark that they need to become successful in forex trading. They even asked me whether I have a CFA or MBA. Well, I do not have them at the moment, but I may consider pursuing one of them in the future If you guys are not really sure what they are, let me explain, CFA stands for Chartered Financial Analyst while MBA means Master of Business Administration. Again, I will stress that you do not need some high certifications to be good in forex trading, what you need is some emotions control, discipline, patience, money management and of course a proven forex trading system. But since I came into this post, let me give you some details on CFA and MBA below.

CFA is a exam based certification and there are 3 sequential levels which you must pass in order to become a CFA. It is actually a certification that teaches you professional money management, portfolio management, investment research etc. I have heard from some of my friends saying that the courses are real tough and it covers quite a number of different modules. You can find more details here at the CFA Institute.

For MBA, if you are doing full time, you can complete in 6 years. I would not recommend getting an MBA unless you want to major in something unique/special and employers will notice you. Actually, master’s degree in some areas will be even more useful than MBA though MBA is very helpful and often required by large and even some small companies. Before you decide, ask yourself a few questions. Are you able to cope with part time MBA program if you are working and do you have the financial resources to fund the program? Do you really need the MBA as a tool to climb up the corporate ladder? But one thing I’m letting you know is that there’s no guarantee of a job offer when the situation is like the economy now.

Anyway, if you are only thinking and concerned only about forex trading, then I think the 2 programs above can’t really help you much in terms of theory and analytical skills. Instead, you should be looking for some forex education that are provided out there in the market (which there are tons of it). But be careful though, many just want to earn the course fees out of you and do not really benefit you so much. If you do not mind, you can visit this forex training blog of mine and I’ll post resources like forex strategy, forex trading tips and the trades using my own forex trading system. I’m sure you can learn something out of here and please don’t hesitate to contact me if you have any doubts or problems that you met in trading. I’ll see you again and have a nice day!

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Hey guys, how’s your forex trading today? I hope it’s fine because today the forex market is quite choppy. Let’s shift a bit from forex trading today and I want to share with you some interesting stuffs. I came across an article today on how the bankers went down in this financial crisis when they are fired by a company. But yet they receive compensation from the company in the form of “golden parachute”. So have you heard of golden parachutes? It actually includes cash bonuses, severance pay, trading gains and other benefits. It’s alright if they have done a good job, but they had very poor performance and yet they are being paid a huge sum. I can’t believe it. Below are some of the executive (bankers) that went down.

Let’s begin with the year 2007,

In September - Richard Fuld went down with the failure of Lehman Brothers after 14 years, which led to bankruptcy. He pocketed close to half a billion.

In October - When Merrill Lynch posted a loss of $8 billion, Stan O’Neal left the company with $165 million package.

In November - Charles Prince left Citibank with around $100 million after 4 years and poor 3rd quarter performance.

Now into 2008…

In January - After the collapse of Bear Stearns, James Cayne left the company with $13 million.

In June - G. Kennedy Thompson was pushed out from Wachovia with $8.7 million after the U.S housing turmoil.

- Angelo Mozilo, who founded Countrywide Financial 39 years ago, took home $188 million when he retired the day Bank of America (BOA) took over.

In July - Richard Syron took away more than $16 million after being terminated by Freddie Mac.

In September - Daniel Mudd left Fannie Mae with $8 million.

- Kerry Killinger left with $44 million after the Washington Mutual event, which was the biggest failure in U.S banking history.

- Alan Fishman left Washington Mutual too, with $19 million and bonuses.

- Robert Willumstad left AIG, but declined the exit package of $22 million.

In October - Mark Whittle retired from South Financial Group with $18 million exit package.

I think no statement has ever been so true like “The love of money is the root of all evil” and ” The borrower is servant to the lender.” So what are your views on this? You are welcome to leave a comment at the end of this post.

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