Ian Coleman’s ID Card* From: UK
* Lives in: Sheffield (England)
* Age: 46
* Years in the markets: 28
* Favorite currency pair: EUR/GBP
Ian Coleman is an active trader who has been sharing his trade ideas with traders for many years, including on FXStreet. He now hosts a weekly show on our Live Video channel together with his colleague Steve O’Hare where they discuss their forecast for the USD Index and commodities. We wanted to know a bit more about him…
To start with, Ian… Do you trade for a living?
Yes, I am active in the markets on a daily basis.
What is your favorite strategy or set-up to trade currencies?
I developed a ‘Grey Box’ system 6 years ago that highlights support and resistance levels. The favourite set up is to look for continuation patterns to these levels OR a reversal pattern when/if they get there.
What are your favorite currencies and why?
EUR/GBP …. I don’t really know why. I always get drawn to it for a bias on EURUSD and GBPUSD and it has paid me dividends in the past.
When did you start trading currencies and how?
I have been involved in FX for 28 years. I started my career as a broker at Prebon Yamane London on the Swiss desk. This is what initially got me hooked. I spent most of my time reading, studying charts and being a general trading geek. I left the broking world in 2000 I have dedicated the rest of my career to analysing and developing trading techniques.
What’s a day like in the life of Ian Coleman?
I awake at 5.15-5.30am. I work from a home office so I am sat at my desk ready to start within 10 minutes. My first ‘port-of-call’ is the USD Index. If I can get a good bias and entry level on here, I am likely to get most of the FX majors correct that day. The reverse obviously applies!
I have my views in place by 7.00-7.30 then spend the balance of the day looking for these to be confirmed. US reports are written by 12.30. I normally finish my ‘normal’ working day at 4.30pm. However, if live trades are still on I will monitor from a handheld until I go to bed (most nights I am asleep in front of the television before I make it!!).
What do you cover during your live shows on FXStreet?
In the past, we have taught in most aspects of trading and technical analysis. This can vary from ‘How to trade the Ichimoku Cloud’ to the basics of ‘Money Management’. We have a very open approach to education and are happy to answer most questions. The only subject we won’t divulge in how the Grey Box system is made-up.
What do you enjoy most about hosting these presentations for the traders?
I have always enjoyed the interaction with all levels of traders or analysts. Teaching novices is the most enjoyable as they haven’t been tainted with previous ideas or systems. I never say someone is wrong in their approach or view. They might be looking at a larger timeframe, bigger targets or even fading into a position. I might be looking at a 5 minute short-term trend.
Do you remember how your relationship started with FXStreet?
Yes, I remember it well. It was about 10 years ago and I was publishing reports called ‘Timeframe Breakdowns’. We would pick a currency pair then look at monthly, weekly, daily and an intraday outlook to highlight trade(s). A lot of water under the bridge now !!!
Where else can our users find and follow you?
We have our own retail offering at Pia-first.com. Traders can also sign up to the ‘Free Area’ and receive a daily trade call or recommendation direct to their inbox. I am also active on Saxo TradingFloor.
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All our shows are recorded. You can replay Ian’s in his archives.