Dealing with God
The reasons behind the initiation of an FX position are almost as diverse as the participants in the market itself. Some believe that technical analysis is the only true way to trade FX; others believe that yield alone drives rates. Over the years, I’ve come across other beliefs. One dealer used to take cable positions on the basis of which way a crane he could see out of the window was pointing. We had a period when we traded on whether the tide was in or out. It should come as no surprise to hear of a company that bases its trading decisions on what it says is contained in the Bible.
When is a net not a net?