If Boris Johnson was an FX Trader
Boris Johnson is instantly recognisable as the Mayor of London and a former MP, but what if he was to tear himself away from his public duties and start a new life as an FX trader? If he was asked how he is likely to get on in making money on the markets, we can only hope that he would rate his prospect of success higher than when he was asked about becoming the Prime Minister and said “My chances of being PM are about as good as the chances of finding Elvis on Mars, or my being reincarnated as an olive.”
Doing the research
Boris would no doubt undertake some serious research to identify vital trading information, rather like when he discovered that table tennis was invented by the British and originally called wiff-waff. He observed that where others looked at a dining table and saw the opportunity to have dinner , the British saw an opportunity to play wiff-waff, perhaps he will spot similar unusual opportunities in the markets.
If Boris is going to utilise charting as a tool for identifying profitable trades he is probably going to have to fare better than when he spent just a week in his first job as a Management Consultant, after graduating from Oxford. Perhaps Boris will need a strong pot of coffee whilst doing his research, as he said of his brief job experience, “Try as I might, I could not look at an overhead projection of a growth profit matrix, and stay conscious.”
The need to be decisive when trading is critical if you are going to take advantage of trading opportunities and surely Boris will fare well in this particular area as he has to take decisive action on a regular basis as Mayor of London, he has also never been afraid to voice his opinion from an early age, in fact He claimed that his refusal to eat eggs from the age of six months was his "first major policy decision". One can only hope that his overall decision making prowess in the financial markets is better than his attempts to promote Olympic big screens in London by taking to a zip wire and then getting suspended in mid-air. As he put it himself “How could anybody elect a prat who gets stuck in a zip wire?", well they did, so the Mayor of London might have good fortune on his side when trading as well, what could go wrong?
Optimism and expectations
These two words are both friend and foe in the fast paced world of FX Trading and as many traders will tell you, you need to have full control of these faculties in order to succeed in the markets. These attributes are certainly in evidence when Boris was quoted as saying "if you vote for the Conservatives, your wife will get bigger breasts, and your chances of driving a BMW M3 will increase".
In recent years the FX market has seen the emergence of algorithmic trading , using this particular electronic trading strategy in order to capture execution opportunities and keep pace with what could be viewed as an increasingly automated marketplace. Hopefully Boris won’t dismiss this method of trading as “an inverted pyramid of piffle". Perhaps Boris should stick to the day job, but if he did take up FX trading, he would probably approach his role in the financial markets with a view that surely nothing can go wrong. As he said “My friends, as I have discovered myself, there are no disasters, only opportunities. And, indeed, opportunities for fresh disasters.”