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 Soros, if we talk about stocks, then any economist far removed from the stock exchange will name Buffett.
However, if these two international names showed that it is possible to succeed in the stock market, then John Murphy is the man who demonstrated exactly how to do it.
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, he was one of its originators and was one of the first traders to actively apply his own theory in practice.
John Murphy was born in 1943 in the United States. It's worth noting that, despite John being a well-known figure in the stock market and, dare we say it, a media personality on various top business and finance channels, there are virtually no references to his early life.
The only thing that is known for certain is that even as a child, John Murphy saw himself as an economist and analyst, and therefore made every effort to achieve his goals.
Even as a student at Fordham University in New York, John dreamed of becoming a fundamental stock market analyst, and he even imagined a career on Wall Street.
However, after graduating from university and receiving a bachelor's degree in economics, he, as a young professional, was faced with a completely different reality.
At the beginning of his career, the stock market was extremely volatile and the number of people involved in fundamental analysis was very large.
So, after receiving a couple of rejections, 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's worth noting that at that time, graphs were drawn manually, so he was hired as a laborer who would help the manager sort through the pile of graphs.
Nevertheless, John quickly grasped the basics of technical analysis, and after reading various books, he began making well-founded forecasts for the company. So, after some time, John took over as 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 interview, Murphy repeatedly recalled that when he joined 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 coincided with the stock market crash, leaving many investors holding unwanted stocks. This is precisely why commodity trading began to boom at that time, as well as futures.
At Merrill Lynch, John Murphy analyzed both areas, but because of the nature of futures and computerization, he and his department became the foundation for the development of technical analysis.
John recalls seeing new indicators being created almost every three weeks.
Independent swimming
In the early 1980s, John Murphy decided to leave Merrill Lynch and pursue a career on his own. Initially, he focused on individual consulting and training clients.
However, a little later he founded two companies, MurphyMorris Inc and MurphyMorris Money Management Corp. The first company was actively involved in training traders technical analysis, and the second is investment and trust management.
In 1986, his first book, "Analysis of Futures Markets," was published, bringing John immense fame and popularity. Since then, he has been frequently invited to appear on various television channels, and he even hosted his own show on the channel dedicated to technical analysis
CNN.
Then another book, “Virtual Investor,” was published http://time-forex.com/knigi/virtual-investor
In 2002, John Murphy received the MarketTechniciansAssociation Award. John currently manages his hedge fund, MurphyMorris Money Management Corp.
