* From: Israel
* Lives in: Barcelona
* Age: 38
* Years in the markets: 10
* Favorite currency pair: EUR/USD, it’s a love/hate relationship…
Yohay Elam is one of the speakers of our recently launched Live Video channel. He tells us a bit more about himself and his new program, “Europe Live Market Open”, that he hosts every day from 8:00 to 9:00 GMT (4:00 – 5:00 EDT).
For those of our readers who don’t know you yet, tell us a bit more about yourself… When did you start trading currencies and how did it happen?
I started trading currencies after a friend sent me an invitation to forex course back in 2005 and it certainly seemed more interesting than my IT job.
We took the course together and since then I am hooked. After trading for some time and diving deeper into this world, I started Forex Crunch. I don’t trade anymore.
I stopped trading as I couldn’t stop following the charts – I found it too addictive for me and my nose was attached to the screen. Analyzing currencies without an open position results in a more calculated analysis and I’m just better at writing than at trading.
What is your favorite trading strategy?
My strategy was quite simple: understand the fundamentals that move markets, identify the trend and go with it. Then, support and resistance lines served as guidance for entry, stop loss and take profit orders.
Basically fundamentals for the direction and technical analysis for the details. Keeping things straightforward is the way to go.
What are your favorite currencies and why?
I find most interest in EUR/USD with its abundance of influences, yet it’s not the easiest pair to trade. AUD/USD is more straightforward fundamentally and technically: follow the Chinese news and ride the trend. USD/CAD is another favorite as it provides retail traders the opportunity to jump on the trend on breaking news without losing out too much to the big boys’ algorithm. And, it’s not as boring as it seems.
How is your daily routine?
I begin my day with looking at prices: if I see a significant change in one currency, that’s where I’ll look for the news. I later follow the big events of the day for the next moves. 12:30 GMT, when we get US news, is usually the busiest time of my day.
Can you explain us what you do in your daily show in the Live Video channel?
In the daily show we begin with the latest news and price developments from the latest sessions, helping traders get up to speed with the current state of affairs. We then move on to the big upcoming events to set the agenda for the day. We continue with diving into the charts of around a dozen currency pairs, focusing on the ones which have moved most or the ones we expect to see in action, noting technical lines, ranges and more.
What do traders get by attending your show?
The show is one stop shop for all the FX trader needs to know about currencies for the day, yet the most important belongs to the participants. Questions are highly encouraged and this leads to seeing more chart patterns, pointing out more background information etc.
If time allows, we also preview the next week’s events and beyond.
Your show started not long ago… but what do you enjoy most about hosting it?
The best part of the show is the interaction with the traders. A question not only serves the person who asked it, but also the rest of the community watching it live or recorded, as well as myself. I haven often returned to crosses which were highlighted by traders in previous sessions and follow up on the action. This interaction also makes the show dynamic and flexible rather than a one sided lecture.
Do you remember how your relationship started with FXStreet?
My relationship with FXStreet began a long time ago. If I remember correctly, sometime around 2010 I had a rant on fake broker reviews on Forex Crunch that caught the attention of FXStreet’s founder Francesc Riverola. His comment on the article led to further correspondences and this evolved into a cooperation on various types of content. It began from the publication of Forex Crunch reports on FXStreet, continued with weekly contributions to FXStreet’s forecasts, quotes on big events, coverage of various events with Valeria Bednarik and Dale Pinkert and more. The relationship also evolved into FXStreet’s management of Forex Crunch’s ad space.
I hope this fruitful and friendly relationship will continue for many years to come.
Besides FXStreet, where else can our users find and follow you?
Traders can find me at Forexcrunch where I write about everything forex related with many fresh articles per day. The best place to start would be the weekly outlook where they can get ready for the new trading week. I also provide educational material for beginners.
In audio format, I can be found at Marketmoverspodcast.com where my associate Lior Cohen and I record a weekly show covering markets in the short and long terms and keep you entertained in the commute, your running session or wherever you wish.
I am also present on social media, with Twitter (@forexcrunch) being the most useful place including tweets from live events, additional commentary and retweets of forex related material from the twittersphere.
To receive notifications before all the shows presented by Yohay on FXStreet, follow him!
All our shows are recorded. You can replay Yohay’s in his archives.