The Knick's finally dump Isiah....

Yesterday marked a turning point (Knick Fans can only hope) in the fortunes of the New York Knick's. They finally parted ways with their President and coach Isiah Thomas. This was a good, and frankly was the only move the Knicks could make, after four years of futility. I had little interest in watching a game and did not attend one all year. Why go? The players didn't seem to care, nor did the coach. Even the owner Jim Dolan stopped attending home games a third of the way through the season. Currently Isiah has an unnamed position with the team. No one report's to him and he reports directly to Walsh, the new basketball guru. This "position" is basically so that Jim Dolan get's something for the 24 mio dollar contract he gave to Isiah last year, and allows for a more gracefull exit for Thomas in the weeks to come.

I think this is definitly a step in the right direction. Sometimes getting things sorted out first requires that you get rid of everything in the past. This is certainly the case for me when I am trading. Currently I have been trading very poorly. Markets are moving. Interest Rate futures globally are extremely volitile and the currency markets have been trending. Me, well I have been standing on the outside and looking for opportunites. Most of the one's that I see turn out to be wrong. Yesterday, in the spirt of the NY Knick's I began purging myself of all of my positions. This is not always easy with Emerging Market currencies. I found it difficult to get out of my Chile fixing risk, and my Peru o/r position, but I have definitly moved much closer to "square".

This has proven to be a very valuable tool in getting my trading house back in order. It gives me new perspective while freeing me up from the stressesof positions that were not working. Square up and start again. Remember, there is always another opportunity, you just have to be in the game to take advantage of it.

Let's hope that the Knick's, now that the have purged themselves of Isiah Thomas, can get their house in order. All New York Knick fans, and the NBA family in general hope so too.

Good Luck and Good Forex Trading.