Adam had a chance to sit down with Jim Martens from Elliot Wave International (EWI). He shared some of his trading experiences and had some great insight on the currency markets.
Jim Martens is Elliott Wave International’s Senior Currency Strategist and editor of Currency Specialty Service. He got his start working with metals traders on the Commodity Exchange Center in New York and quickly earned a reputation for insightful market calls. Jim first joined Robert Prechter’s team at EWI in September 1993, covering a diverse list of markets from commodities to financials. He left EWI in 2001 to join Nexus Capital Limited, a Soros-affiliated Hedge Fund based in Hamilton, Bermuda, as their Technical Market Strategist. Jim rejoined EWI in the summer of 2004 and soon headed up the currency team. He is an experienced Elliott Wave instructor and presents at various trading seminars and tutorials around the world. Continue reading "Adam Hewison interviews Jim Martens, Senior Currency Strategist for Elliott Wave International"→
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Shane got such a positive response to his first guest blog post (below) that I wanted to keep his momentum going and give him space to give you a little peak into his world of Forex trading. Many of you have checked out his “Evil Genius Cheats” newsletter, but if you haven't I recommend you do so before he won't let any more free people in. Please enjoy the article, check out his “Evil Genius Cheats” newsletter, and let the comments FLY!!
Ask any trader what currencies they trade and 99% of them will mention the major pairs. The EURUSD, GBPUSD, USDJPY and a handful of others. These are very active, very liquid and perhaps out of habit, the most widely traded.
What about the “exotic” pairs? The Danish Krone (USDDKK), Singapore Dollar (USDSGD) and a host of other pairs, give ample opportunity for the professional trader to make money. Right away, the main argument will be about the spread to trade exotics. True, the spread is much higher than EURUSD but look at the pip cost below while trading 100k. It is not the standard $10/pip/$100k.