Research
How the macro read actually works.
Plain explanations of the forces that move currencies, metals and indices: rates, central banks, positioning, research consensus and risk. Written by me, using the same data the terminal runs on.
Getting Started
4 guides-
How Corroboration Works: Reading Positioning, Research and Rates Together No single signal is reliable on its own. The real edge in macro is corroboration, when independent reads all point the same way. Here is how I layer them. -
What Is Macro Trading? Macro trading means reading markets top-down through the big forces of rates, growth, policy and risk. Here is what it is and how to start. -
What Moves Currency Prices? A Beginner's Guide Currencies move on a handful of big forces: interest rates, economic data, risk sentiment and positioning. Here is a plain-language guide to each, and how they fit together. -
Fundamental vs Technical Analysis in FX Fundamentals explain the why and the direction; technicals help with the when and the where. An honest comparison of the two ways to read the FX market.
Positioning
2 guides-
How to Read the COT Report (Without Fooling Yourself) A plain-language guide to the CFTC Commitments of Traders report: who is in it, what the net position actually tells you, and the traps that catch most traders. -
Retail Sentiment vs COT: The Two Crowds Retail traders and institutions are two different crowds, and they are often on opposite sides. Here is how to read retail sentiment, and why the divergence is the signal.
Central Banks
3 guides-
Rate Differentials Explained: Why Interest Rates Move Currencies Interest rate differentials are one of the strongest forces in FX. Here is what they are, why the expected path matters more than the level, and when they stop working. -
How to Read a Central Bank Meeting A rate decision is the least interesting part of a central bank meeting. The market trades the guidance and the surprise. Here is what to watch and how the reaction works. -
Forward Guidance Explained Central banks move markets with words, not just rates. Forward guidance steers the expected path of policy, which is what currencies actually trade. Here is how it works.
FX Fundamentals
3 guides-
How to Read Bank Research Consensus in FX Sell-side FX research is noisy and often wrong. Used well, the consensus across many banks is still a genuine edge. Here is how I read it, and how to avoid herding. -
The Carry Trade Explained: Earning the Rate Differential The carry trade is one of the oldest ways to make money in FX, and one of the fastest to blow up. Here is how it works, where the return comes from, and what kills it. -
What Moves the US Dollar The dollar sits on one side of most FX trades, so understanding it matters more than any other currency. Here are the forces that actually move it, and the dollar smile.
Market Structure
3 guides-
Risk-On, Risk-Off: How Sentiment Drives FX Some days one thing moves every currency: the market's appetite for risk. How to read the risk regime, and why it overrides the fundamentals. -
Currency Correlations: Why Pairs Move Together Currency pairs are not independent. Understanding which ones move together, which move opposite, and why it changes in a panic keeps you from stacking the same bet. -
FX Trading Sessions and Liquidity The FX market runs 24 hours, but it does not trade the same all day. Understanding the sessions and where liquidity concentrates changes how you read every move.
Latest on video
Every video-
The FED has a BIG Problem!!! Fed faces hawkish inflation versus dovish labor market dilemma. -
I'm Short Maxxing This Market! Euro weakness dominates; James shorts EUR across multiple pairs for asymmetric risk. -
WARNING: THIS WEEK COULD BE HUGE! Fed decision and UK budget this week could reshape forex markets dramatically. -
Something Is SERIOUSLY Wrong With the Euro! Institutional traders are aggressively shorting the euro across all pairs. -
The GBP Could Be About to Make a BIG Move GBP poised for major move as hawkish BOE hikes drive sterling strength. -
I Finally Took This Trade! Finally buying GBPAUD after months of waiting—central bank divergence flips the trade.
The data behind the writing
Every idea here is running live in the terminal.
Composite scores on 24 markets on the free plan, with positioning across 44 and the research consensus behind them on Pro. 15 panels on 2 boards free, no card, and every new account opens with 14 days of Pro.