Huzefa Hamid

Huzefa Hamid
Published articles: 47

About Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com.

I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money.

I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.

My first trade based on a purely Technical view (i.e. without considering any fundamental analysis) was in early 2001 when the UK equity index, FTSE, broke a long-term support level. Many economists believed the market would continue rising, but the chart painted a different picture. After the support level broke (and the same level was subsequently tested as a resistance), I shorted the FTSE futures contract and watched the market fall. It was a fantastic validation of my understanding of Technical Analysis principles, and I loved that I could profit against the majority view of the market.

Fast forward some years, and after acquiring a few grey hairs, I’ve spent a career in consulting (non-market related) paralleled with trading (over that time, I have traded full-time for more than seven years).

I’ve met some great people along the way and was lucky enough to deliver presentations at the Las Vegas and Toronto MoneyShow events on behalf of DailyForex.

Today, I trade seven major Forex pairs and some futures contracts, including the S&P 500, Russel, Natural Gas and Crude Oil.

The one piece of advice I always impart upon traders is to treat it like a business. Have the level of accountability and discipline you would in any profession. When applied to trading, that means developing a method to identify your trades or learning a method from someone else. Manage your risk. Record your progress. Find your mistakes and correct them.

And decide you want to be very, very good.

The city of Toronto is my home. If you’re nearby, hit me up for a coffee anytime.


Huzefa@dailyforex.com

 

Snapshot

Latest 10 Articles

Knowledge is power. Especially when you’re trading volatile markets. Get in the know with this week’s Weekly Market Analysis, where Huzefa breaks down major Forex pairs and stocks indices with expert tips and insights.

As technology and world events change rapidly, financial markets rise and fall at a word or headline. Now more than ever it’s important to know how to navigate the stock markets to maximize profit and avoid the losses lurking around the corner.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of August 16, 2021.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of August 16, 2021 here.

From deadly viruses to inflation, the markets are volatile as ever. Join us for a closer look at the Forex markets and the major Forex pairs for the week of Aug 10, 2021.

Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of August 10, 2021.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of August 9, 2021 here.

Why trade stocks? What are the risks involved in stock trading? What really went wrong with GameStop? How can you profit from the highs and lows of the stock market? Find out the answers to these questions and more in this week’s stock trading webinar.

Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of July 19, 2021 here.

Profits get bigger when you’re prepared for price movements. Join us for a closer look at the Forex markets and the major Forex pairs for the week of July 12, 2021.