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Forexlive.com (Three little rules)


Three little rules

Jamie’s rules for forex traders:
  1. Understand the basics of technical analysis. You don’t need to be a quant-geek to be successful, but understanding the first ten chapters or so of the classic Technical Analysis of the Futures Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy would be a great start.
  2. Understand the basics of fundamental analysis. Pay attention to trends in interest rates, commodity prices, prevailing direction of investment flows, among other. When the fundamental and technical outlooks for a currency differ, always side with the techs.
  3. When the fundamental and technical outlooks for a currency converge, go for it! Take a more aggressive position than normal.

1 comment:

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