FX BOOK REVIEW difficult to control one’s
emotions. How do you manage your own discipline? Do you use some special tactics?
KB I have two rules – firstly, no one will die in this trade. Secondly, as long as I stick to my risk management
rules, which I
explain in my book, then I should feel comfortable in any trade.
FXTM We have now reached the summer months during which some
traders start scaling
down their books. What’s your opinion on the FX market’s thinned liquidity impact during these months? Do you cut back on trading ?
KB It depends, in recent years we have seen some big fundamental
shifts during the summer months on both sides of the Atlantic, which has led to lots of volatility and trading opportunities. This summer the focus is on the Fed and the potential for a tapering of QE purchases, thus economic data over the coming months has the potential to cause some large moves in the market. This summer could present lots of opportunities for FX traders, so don’t stray too far from your trading desk!
FXTM Recently surveys are indicating that the number of women interested in FX trading is growing. What do you think is the reason for this and do you have some special advice for women traders ?
KB I think it is growing far too
Who is Kathleen Brooks?
Kathleen Brooks is UK and EMEA research director at
Forex.com, a retail FX broker based in London. She is a regular contributor to Yahoo Finance, Reuters Great Debate and she is often quoted in international publications including the Wall Street Journal and the Financial Times. She can be seen regularly on business TV including CNBC, Bloomberg, Sky News Australia and the BBC. She started her career in finance at BP where she worked first as a business analyst in its trading division and then as a trading analyst in its foreign exchange dealing room. Prior to joining
Forex.com she was a financial features writer for City A.M.
Kathleen reckons Forex is a complicated market, driven by many factors, but she also believes that it is the most fascinating market out there, one that cuts across economics, finance, politics and society.
Her objective in writing “Kathleen Brooks on Forex” was to write a book that was fun to read and depicted the forex market as a fascinating place to trade. She uses both fundamental and technical methods in her analysis and often fuses the two to get a complete picture of the market. Her philosophy of market analysis is to break things down to their most simple parts and build from there.
slowly. The FX market is very male dominated; even platforms mostly
look because female ver y they
male, are
designed by men. I think the only way the saturated FX market will grow is if it attracts
clients . This
will require a different type of sales technique, perhaps a different approach to research and also a complete overhaul of some FX trading brands. Some are very mascul ine; they need to be more appeal ing to females. I am no branding expert, so I’m not sure of the moving par ts that need to get us there, but to me it seems like too good an oppor tunity to miss, especially as female disposable income grows and women want to manage their own money directly and not through husbands or par tners.
66 FX TRADER MAGAZINE July - September 2013
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