Few people who follow the FX trading world can say they don’t recognize FXPRIMUS research analyst Marshall Gittler.
Having worked as a currency analyst for quite a while on both the retail and institutional sides of the business, Marshall and his ubiquitous bow tie have been a mainstay on business TV and the web for as long as many of us in FX can remember. (And yes, on a recent LeapRate visit to the new FXPRIMUS offices in Limassol, Marshall was indeed wearing his bow tie despite the hot weather outside!).
But Marshall and his story – and his unique view on FX trading – are a lot more than having a unique look.
Did you know that Marshall got into currency analysis almost by accident, due to his speaking a foreign language?
We’re pleased to speak today with one of the most recognizable faces in retail FX (you can also see him daily in the FX Research video on our Home Page), to find out not just where he came from, but also what his plans are going forward. And, his advice for currency traders. You might be surprised…
LR: Hi Marshall. Can you tell us a little about your background, and how you got into FX analysis?
Marshall: I started out in life as a financial reporter with one ace up my sleeve: I spoke Japanese, which I learned as a high school exchange student in the country. When the Tokyo Stock Exchange first opened up to foreign firms, there was a surge in demand for bilingual people who could speak the language and write about markets. My background as a financial reporter fit perfectly and so I segued from reporting on the markets to forecasting them myself.
Initially I was analyzing the Japanese bond market, but when Japanese yields got down to the-then unprecedented level of 2% and foreign investors lost interest in the market, I moved over to foreign exchange. I’ve been fascinated by this market ever since.
LR: Can you summarize the importance of fundamental and technical analysis for traders to make the best decisions when trading?
Marshall: Fundamental analysis tells us where the market is headed over the medium to longer-term. That’s great, but it doesn’t do you much good if you’re stopped out before you get there.
Technical analysis helps us to identify the shorter-term trends, the reversals, the entry points and the times when you might want to suspend your longer-term plan and take advantage of a shorter-term move.
LR: What commentary do you provide FXPRIMUS traders with to ensure that they are making educated trading decisions?
Marshall: My focus is on the fundamental side.
I try to ensure that our traders know what the major economic news is coming out each day and how it’s likely to affect the markets. At the same time, I’m working to educate the new traders about the basics of economics: how the FX market works, what the indicators mean, and how it all fits together to affect the price.
LR: Can you let us know more about your decision to join FXPRIMUS.
Marshall: My reputation can be no better than the reputation of the firm I’m associated with. I’ve worked hard for many years to establish a good reputation in this market and want to keep it. It’s essential for me to work for a firm that enhances that reputation. I believe in investment as a win-win game: that is, the clients should profit along with my firm. FXPRIMUS fits that bill completely.
LR: Marshall, you are now being recognized around the globe for your renowned style and individuality. Can you elaborate on just some of the more recent Marshall spottings in the media?
Marshall: The financial TV world is starting to realize that retail FX has gotten a lot more sophisticated over the last several years and the analysis we can offer has also improved. For example, I’m still analyzing the markets as I did when I worked at Deutsche Bank, one of the biggest participants in the institutional FX market. We are gaining traction with the media as a result.
For example, I recently appeared on Bloomberg TV in the Middle East talking about the pound’s gyrations. Sky News Australia tapped me to discuss the similarities between Japan and China’s development models. And I’ve become somewhat of a regular on Turkish TV.
LR: In your experience, what advice can give traders who want to become savvy in analyzing the large amount of financial data available to them daily?
Marshall: There are three things they have to do: study, study and study. FX isn’t like playing roulette, where you can just put your money on red or black and hope. You have to know what you are doing, because the people you are playing against in the market certainly do. So you should read everything you can get your hands on. That’s why I write not only a daily comment, to keep people abreast of what’s happening, but also an FX Glossary, to make sure that people can understand the deluge of data and information that sweeps over them.
LR: What does the future hold for Marshall Gittler?
Marshall: Our motto at FXPRIMUS is “The Safest Place to Trade.” “Safety” in FX trading requires education. So far, I’ve aimed my research work at the more experienced traders who are familiar with the main concepts used in the market. Going forward, we want to build up the educational side of our offering to cater better for the beginning traders who are working hard to master the many new market terms and economic theories that FX trading involves. In addition to expanding our existing “FX Glossary,” I plan to start making videos for those who prefer that way of learning.