Interview: Finding The Trend in FX With Tyler Yell by Jayanthi Gopalakrishnan
Tyler Yell, CMT, is a currency analyst and trading instructor for DailyFX.com. He began trading equities in his own account after graduating from Texas State University in 2005. He came to FXCM (which owns DailyFX.com) from JPMorgan Chase, where he began trading forex back in 2007. In his work, he tries to teach market truths like risk management and technical setups in a way that newer traders can understand. His technically focused strategy looks mainly at price action across multiple time frames to try to catch the big moves that develop throughout the year. He believes there is always a move worth trading, and he wants to teach traders how to find those moves.
STOCKS & COMMODITIES Editor Jayanthi Gopalakrishnan spoke with Tyler Yell on February 4, 2015 about how to identify profitable moves in the forex markets.
Tyler, could you tell us a little bit about yourself and how you got interested in trading currencies?
I came from a wealth advisor background, working mostly in investments with JP Morgan. I was also working with foreign exchange for some of my wealthier clients. This was around 2005 and these clients were asking me if I was familiar with the forex market. I was only familiar with that market at a surface level. These clients told me about how the forex markets presented opportunities not available in other markets due to rollover, leverage, and the 24-hour nature of the market. That piqued my interest, since I have always been a fan of how one story globally affects another story. We are seeing a lot of that going on now with oil kicking off this deflationary spiral, which is causing central banks to panic.