Has the euro rally already started?

The euro story provides a vivid example of the difference between the strategy and tactics of trading, says John C Burford.

I will follow up on the euro story today because it is providing a vivid example of why there is such a massive difference between the strategy and the tactics of trading.

Different skills are required for each and that is why most analysts make lousy traders, and why you should use most analysis of the pundits as contrary indicators. It is rare to see someone being good at both.

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.