Huzefa Hamid

Huzefa Hamid
Published articles: 31

About Huzefa Hamid

I’m a retail Forex trader and I exclusively use Technical Analysis to trade. I believe that Technical Analysis offers the cleanest way to predict the future direction of price movements. The fundamentals and news create the market sentiment and emotions, and that in turn is reflected in the price chart. Your bet as a trader is not on the fundamentals – it’s on what happens to the price as a result of those fundamentals. 
 
My charts have few indicators. I use Fibonacci retracement levels favoring the 50% and 61.8% levels. I have a systematic method of trading, but it is not automated. I mark my charts manually and my method allows me to have a high win rate combined with a good reward/risk ratio. 
 
I am interested in trading high volume liquid markets. This means I trade the majors, EUR/USD, GBP/USD, USD/CAD, AUD/USD, USD/JPY etc. and some crosses. Technical Analysis works on principles of crowd psychology in that large crowds have more predictable behavior than a collection of fewer individuals. For example, a single institution could not move the S&P500 or even a single large capitalization stock such as Apple. And a single institution could not move the EUR/USD by itself in U.S. Open. However, a single institution could move the price of a low volume stock or thinly traded Forex pair. The latter scenario is where Technical Analysis breaks down.
 
For charting, I mostly use MetaTrader. It does have its limitations, but it has enough functionality for my style of trading. As my trading is not dependent on proprietary tools or sets of formulae, I can use any platform offered by the brokers I have.
 
My preferred trading session is the U.S. Open. I like the London Open too but as I now live in Toronto, the London Open is in the middle of the night for me!
 
I trade four days a week, about three hours per session. I trade the 15-minute, 1-hour, 4-hour and Daily charts.
 
I am a member of the Canadian Society of Technical Analysts and have spoken at their events in Toronto.


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