Valeria Bednarik’s ID Card* From: Argentina
* Lives in: Buenos Aires
* Age: 46
* Years in the markets: 12
* Favorite currency pair: No favorite
Valeria Bednarik is FXStreet’s Chief Analyst. Most of you certainly read her analysis every day. Still, you might not know her very well. She is presenting a new weekly show on our Live Video channel, “Valeria Bednarik’s Forex Highlights”, every Tuesday at 11h30 GMT / 6:30 am EST, and we have made this short interview with her, as we’ve done with all the speaker of our new TV!
My first question is straightforward… Do you trade for a living?
Not anymore. I did however, for many years, but now I’m more interested in longer term investments rather than intraday trading. I do trade, but not regularly as I have also other occupations that fulfill my life.
You were an accountant then at some point you became a Forex trader. How did it happen?
I started to trade Forex back in 2003 or 2004. After being scammed by an account manager which basically used a Ponzi scheme, I tried with a Swiss company that also offered an account manager, and turned out to be a joke. I decided that if I wanted it to be done right, I had to do it myself, and began studying forex.
What is your favorite strategy to trade currencies?
I don’t have an unique strategy to trade the market, as I change between 2 or 3 main ones, depending on markets conditions: volatility, range, trend, etc. But basically, I like to use a momentum indicator, and a cyclic indicator combined, along with a 20 SMA. Depending on the currencies involved, I can add a 200 EMA, or a 100 and 200 SMAs. I pay a lot of attention to support and resistance levels also, and I do believe that those are even more relevant than technical indicators.
What currency pair do you prefer to trade?
When I started trading, my favorite pair was the USD/JPY, because, back then, it tended to lag, meaning the pair would present a delayed reaction compared with the GBP or the EUR. Additionally, I developed a pivot point trading strategy for the pair, which was pretty accurate, and gave me a lot of satisfaction.
But market is not static, it evolves constantly, so systems have to be reviewed alongside with certain behaviors. These days, I like to trade the Aussie, within Chinese and commodities turmoil, and the Pound against the greenback, which has always been the most reliable one for me, from a technical point of view.
What’s a typical work day in your life like?
I wake up around 4 am in the morning, and have breakfast while reading news. I usually check prices first, because I can tell from price action if something relevant happened or not, and where. I then prepare my first round of reports that include some trading ideas for the EUR and the GBP in the European morning. I later check the market ahead of the US opening and after the first round of relevant data is released in the country. I stay around until London’s close, and then take a break, until the US close, when I return to my charts and see what the market has to offer during the Asian session.
Your new weekly show in our Live Video channel is called “Forex Highlights“. What are these highlights?
I start by taking a look at the weekly macroeconomic calendar, and highlight the most relevant news, the one than can actually move the market, explaining why. Then, I take a look at charts, and try to determinate the dominant trend, when there is a clear one. I finally define the key levels to watch and why, during the upcoming days.
You’ve been presenting webinars for many years. What do you enjoy most about teaching other traders?
The thing that I enjoyed most about any show I participate to is giving back some of the many things I have received and learned through my trading life. I enjoy teaching, and explaining the reasons behind the market’s movements.
Do you remember when and how your collaboration with FXStreet started?
I remember the facts, but not the dates. I can recall starting as a contributor in English and in Spanish, sometime around 2005 – 2006. Then, FXStreet offered some blogs to a certain number of experts, and I got one. After some months, Francesc contacted me to propose me a more permanent collaboration with the company, and here we are, still working together.
Besides FXStreet, where else can our users find and follow you?
Only through my Twitter account @ValBednarik.
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All our shows are recorded. You can replay Valeria’s in her archives.