Huzefa Hamid

Huzefa Hamid
Published articles: 35

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

 

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Latest 10 Articles

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Success in Forex trading is highly dependent upon which currency pairs you choose to trade each week and in which direction, and less so on the exact trading methods you use to determine trade entries and exits.

In this webinar, we take a close look at how the Fibonacci series and ratios are derived, and how they can be applied to your charts to find entries and targets.

Conducting a weekly market analysis is an important step to executing successful trades.

It’s essential to spot reversal patterns, as you may still hang on to the old trend direction and not capitalize on a newly formed trend.

Join Huzefa as he guides you through the world of Forex trading and takes a closer look at the most popular currency pairs in this week's trading.

If you've ever traded Forex, you've probably heard people say, “find the trend, that's where the money is”, or “the trend is your friend”. While that's accurate, it's also a bit oversimplified.

One of the most important things to learn when trading in Forex is conducting a weekly market analysis.

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