Trading Is Made by People. This Is Who They Are - Mr. Richard Perry

Who are you and what do you do as a Market Analyst?

I work for a foreign exchange broker in London and I have been in the equity and Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term markets for around 15 years. I studied economics and politics at university and have always liked the economics side which especially helps with my work. I like to believe that I am a logical/analytical person, so I felt that a career in the financial markets would be a good fit for me. I have always worked in London and feel that it is an amazing city to be in.

Describe a typical work day.

My typical working day is fairly long but I would not say that it is prohibitive to other aspects of my life. I start around 6am and spend the morning writing my daily reports, recording my videos and writing blog posts. I am constantly on the lookout for trading ideas and at the moment with market volatility being what it is there are always opportunities to trade.

Into the afternoon I finally have time to take a step back and have a think about things, which is when I can take a wider look at different aspects of my job. Usually this involves preparing or hosting my webinars, preparing for media appearances and engaging with clients, which I believe to be essential.

How is what you do important for the trading industry?

I like to think that through what I do as an analyst, I help to provide guidance for retail traders who are in need of consistent opinions on key forex markets.

In my webinars I have a lot of engagement with the participants and I was very happy with my recent “Tips to Save you Pips” series which attempted to lay out the key aspects that all traders need to be aware of. I feel that retail traders are crying out for research that does not overcomplicate matters and that also gives a view either way, which is what I believe I offer them.

What do you love about your work?

I have always loved looking at the markets and because I am a very analytical person, my work suits my personality. I am always keen to understand why markets are moving and I like to articulate this in a way that is straightforward for others who may not be lucky enough to have the tools at their disposal that I do for my job.

What is the quintessential experience of working in the trading industry?

Non-farm Payrolls Friday has always been a highlight of the month. In the places I have worked, the staff always get together a sweepstake to see who can be closest to the number. I do not think I have ever won, but still I always believe I’m in with a chance. Blind optimism some might say, but you never know…

Tell us about the first paying job that you ever had.

Like many young people, my first job was casual work behind the bar in a local pub. I met an incredibly interesting array of people, some good ones and let’s just say some not quite so much. However, I believe that by starting off working in a place like that and in the service industry, it teaches you that you should always try to respect the customer regardless of who they are. Oh and also, never to be rude to the waiting staff that serve your food…

Who do you admire?

There are many people that I admire in my industry, people who have been doing a similar job to me but perhaps for a little longer. For the reason of him being so forthright and with such a great personality, I admire David Bloom, the currency strategist at HSBC. I really like CNBC’s Steve Sedgwick who has an incredibly wide knowledge of the financial markets too, whilst I also greatly admire the Channel 4 News presenter in the UK, Jon Snow.

In the world of sport, I am a massive fan of Rafael Nadal, Mark Cavendish and of course, Usain Bolt.

Please share an anecdote that is unique to our industry.

Every now and then there are events in our industry that you will never forget. The constant sight of screens flashing red throughout the depths of the financial crisis of 2008 will certainly stick with me. However, the day that the Swiss National Bank removed the floor of €1.200 was a day that I talk about a lot with Hantec’s clients when we are discussing managing risk in trading. The day was horrible, listening out for who the next broker to fall might be.

But ultimately, as an individual trader, I believe that these events teach you valuable lessons. Regardless of what you are trading, stop-losses are a vital tool for Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term, and are a practice that I try to instill into the trading strategy all of our clients.

What advice would you like to share that has been proven right or important to you?

My original technical analysis mentor, Richard Marshall, always used to try and instill into me the old adages of technical analysis. I always make sure I trade using the advice, 'The Trend is Your Friend' which is something that I also try to urge to all the clients of Hantec Markets. If you can do this then trading becomes a hell of a lot easier.

Read here what Brendan Callan, CEO of FXCM Europe and Aviya Akiva, Offshore Specialist have to say previously in #TradingPeople: