It's time for me to go, but I hope I passed the audition

Author: Mike Paterson | Category: Education

It's the end of my time at ForexLive and here's a few final thoughts 12 April

So here it is. My final offering and a bit more than 3 lines. What started as a 3-day audition ends after 5 years 2 months and 30,000+ posts. Seems like a lifetime to you? Yep, well try sitting this side of the fence! It's been a journey for sure.

Typing fingers ground down to the bone, 05.00 start-times, not to mention mind-numbing repetition and rhetoric from numerous central bankers (goodbye Mr Kuroda et al), Grexit/Brexit, over-hyped market events that invariably fail to deliver can now all be left to others. Hurrah!

FX markets are ever changing and my 38 years in this business, almost 20 as an interbank trader/market maker, has seen most of them. The growth of the retail market has been notable in recent years and hence the need to educate and inform. I hope that in my time here at FXL I have been able to do both of those, and entertain along the way too.

Back in my interbank trading days the ACI (Association Cambiste International) motto was "Once a dealer, always a dealer" so is this my final farewell? No, of course not. I'm just saying goodbye from these pages.

I intend to expand my MSPFX services and for traders I'll be offering some mentoring/coaching and bespoke training, all for a reasonable fee of course!  I'm far too honest sometimes but I've found that overall it really is the best policy.Will I provide signals? No. Will I teach you what to look for and help make you a better trader? Hopefully, if you're prepared to listen and learn.

I'm a great believer in "Give a man a fish and you feed him for a day but teach him how to fish and you feed him for a lifetime". I guess now though you'd have to add a "climate change and fishing quotas notwithstanding" proviso!

Regular readers will know I don't go in a lot for technical analysis but that I do respect some of its findings as part of the whole decision-making process. As an ex interbank market maker for me price action/flow is key. Order boards, option expiries and M&A-related business, to name but three, are main drivers. Understanding how they impact is a vital weapon to have in your armoury.

Over the years here I also hope I've also taught you to keep things simple, don't over analyse. Sometimes it really is just a case of more buyers than sellers or vice versa. Remember, "Ours is not to reason why, ours is just to sell and buy". Also, let the algos do the work sometimes, especially around data releases, and be ready with your entry/exit levels. Don't get greedy in these tight ranging markets. Patience can often be a virtue but equally can mean you squander good opportunities in the meantime.

Plenty more detail/technique I can provide for those interested. Simply contact me here and I'll be in touch. Don't worry, it's not a link to FaceBook! 

So thanks for allowing me onto your screens and thanks for all the input/support/kind words. As for my trolls I guess they'll just have to find some place else to get their kicks.

I wish you favourable markets and profitable trading

Remember,





By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookies