Trader and analyst John Murphy
Each exchange segment has its own leader, whose name is known to almost all traders.
So, if we talk about hedge funds, then almost every trader will clearly name the name Soros, if we talk about stocks, then any economist distant from the stock exchange will name the name Buffet.
However, if these two international names showed that it is possible to achieve success on the stock exchange, then John Murphy is the very person who demonstrated exactly how to do this.
It was thanks to John Murphy that millions of people around the world learned about technical analysis, and his book, which was translated into eight languages, became a kind of bible for any trader practicing technical analysis.
John is an active supporter of technical analysis; moreover, it was he who stood at its origins and was one of the first traders who actively applied his own theory in practice.
John Murphy was born in 1943 in the USA. It is worth noting that, despite the fact that John is a very well-known figure in the stock exchange world, and also, let’s not be afraid of this word, a media figure on various top channels dedicated to business and finance, there is practically no mention of his early years of life.
The only thing that is known for certain is that even as a child, John Murphy saw himself as an economist and analyst, so he made every effort to achieve his goals.
While still a student at Fordham University in New York, John dreamed of becoming a fundamental analyst of the stock market, moreover, he imagined a career on Walt Street.
However, after graduating from university and receiving a bachelor's degree in economics, as a young professional, he was faced with a completely different reality.
At the beginning of his career, the stock market was extremely unstable, and the number of personnel engaged in fundamental analysis was very large.
Therefore, having received a couple of refusals, John said goodbye to his dream and accepted an offer from CIT Financial Corporation to become an assistant portfolio manager.
Fundamental and technical analysis
It is worth noting that at that time, charts were drawn by hand, so he was hired as a laborer who would help the manager sort out a bunch of charts.
However, John very quickly delved into the basics of technical analysis, and after reading various books, he began to build well-founded forecasts for the company. Therefore, after some time, John took the place of an analyst and actively analyzed stocks.
In the early 70s, John Murphy received a tempting offer from Merrill Lynch, which he naturally could not refuse.
In one of his interviews, Murphy repeatedly recalled that when he came to the technical analysis department, there were only two people there, while a department of more than 40 people was actively engaged in fundamental analysis.
However, John Murphy's arrival at Merrill Lynch came at a time when the stock market was collapsing, leaving many investors with unwanted shares in their hands. That is why at that moment trading on the commodity exchange began to actively develop, as well as futures.
At Merrill Lynch, John Murphy analyzed both areas, but due to the nature of futures and computerization, he and his department became the foundation for the development of technical analysis.
According to John's recollections, he observed the creation of new indicators almost every three weeks.
Independent swimming
In the early eighties, John Murphy decided to leave Merrill Lynch and begin a self-propelled career. Initially, he provided individual client counseling and training.
However, a little later he founded two companies, MurphyMorris Inc and MurphyMorris Money Management Corp. The first company was engaged in active training of traders technical analysis, and the second - investment and trust management.
In 1986, his first book, “Analysis of Futures Markets,” was published, which brought John enormous fame and popularity. Since then, he began to be actively invited to various TV channels, moreover, he hosted his own program dedicated to technical analytics on the TV channel
CNN.
Then another book “Virtual Investor” was published - http://time-forex.com/knigi/virtual-investor
In 2002, John Murphy received the MarketTechniciansAssociation award. Currently, John continues to manage his hedge fund, MurphyMorris Money Management Corp.