Bloomberg Markets — The Lure of Forex

November 17, 2014 9:22 pm

A few months ago I was asked by Bloomberg Markets to photograph some people involved in foreign exchange trading (often referred to as forex). Many compare this type of investing to playing roulette at a casino, but the difference is that forex traders overwhelmingly bankroll their accounts using credit cards.

I don’t know much about investing and I’ve never found it very interesting, but forex is a fascinating story. Most experts look at it as a terrible idea and the numbers say the same thing, but the people who believe in it have an incredible amount of conviction. In September I travelled to Orlando Florida to photograph Jared Martinez. He teaches a forex masterclass and goes by “the FX Chief”. It’s always interesting to speak with a man whose charm is his biggest asset.

Below are some of the pictures I took – you can check out David Evans’ article in full by clicking here.

Many thanks to Photo Editor Manuela Oprea and the Bloomberg Markets photography department.

Martinez refers to himself as the “FX Chief.” He illustrates his presentation with slides of forex price charts interspersed with photos of himself wearing a dark pinstriped suit. He says he became a millionaire trading forex after growing up dirt-poor in Whitefish, Montana, on the Blackfoot American Indian reservation.

One graduate of Martinez’s school who’s pleased with what he’s learned is Ron Abrams, who paid $5,000 for a 16-lesson course in July 2013.

Jared Martinez preparing for an all-day forex trading seminar at his school in Lake Mary, Florida.

Glenn Stevens, CEO of Gain Capital, says individual forex traders rarely do the market and risk analysis necessary to win consistently. Most traders don’t have a disciplined approach, he says.

Martinez, who refers to himself as 'the FX Chief,' teaches pattern recognition in the forex market.

Gain Capital CEO Glenn Stevens says forex traders often don't do enough homework.

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