089: Blake Morrow – From Ramen Noodles to a Lucrative Career Trading Forex Markets
Chat With Traders
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How to Trade FX Successfully
I'm always looking for some sort of pullback. Fibonacci is a great tools because that tells you how deep a retracement is. The deeper the retracement, the less likely a continuation of that trend is. I look at cross rate effect meaning that if the euro is doing something on a specific major dollar, that's going to influence my trade. If there's not as much liquidity in the market they tend to be less reliable. So if somebody's buying gold today and then selling it tomorrow, therefore, I can't really sell the dollar. You don't get those correlations as tight when there's not too much liquidity.
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