Huzefa Hamid
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.
Snapshot
Latest 10 Articles
- How to Use The London Breakout Strategy
- 04/08/2024 8:48
The London Breakout Strategy has worked for decades because it relies heavily on the time zones of the world's Forex centres and their activity, which is likely to stay the same. I've traded the London Breakout Strategy in some form since the mid-2000s.
- Why & How to Trade Silver
- 04/04/2024 12:12
In this article, I will explore how to trade the commodity silver, why it can be an attractive asset to trade, and what market drivers affect its price. I will conclude with a summary of the pros and cons of trading silver.
- Are Prop Firms Profitable & Legit?
- 03/26/2024 14:33
There’s no simple “yes” or “no” answer to whether prop firms are worth it because it depends on many factors.
- How to Use Volume in Forex Trading
- 03/13/2024 9:58
Volume Trading Strategy - What it is & How to Use it
- How to Trade Forex with the Gator Oscillator Index and Strategy
- 03/12/2024 12:34
What's the Gator Oscillator Trading Strategy & How to Use it
- Fundamental Analysis: Indicators and Use in Forex Trading
- 03/12/2024 12:00
Fundamental Indicators give markets their underlying value & ultimately, are critical in driving their moves. Learn how to build a strong trading foundation.
- How Interest Rates Affect Forex Trading
- 01/16/2024 13:33
Interest rates are one of the most significant fundamental and macroeconomic factors that affect Forex trading. Let’s look at how interest rates work and how to apply them to Forex trading.
- What is Currency Carry Trading
- 01/11/2024 14:33
Currency carry trades are a way to capitalize on the difference between interest rates in different countries, and spot Forex (and their CFD equivalents) is an excellent market to execute these types of trades.
- Types of Forex Trading Accounts
- 11/29/2023 15:03
The Forex industry offers multiple account types to suit nearly every trader style, from Market Makers, ECN accounts, Standard Lot Accounts, and Micro Accounts to Mirror Trading accounts, Demo Accounts and more.
- Forex Fury Trading Bot Review
- 11/29/2023 11:28
In this article, I’ll cover the basics of trading bots and, more specifically, what Forex Fury offers traders, its features, performance, risks and ultimately, whether it holds overall value to traders.