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Interview

Interview with Maksim Magdalinin, InstaForex analyst

All your reviews are about various currency pairs. Is there your favorite or the most predictable one?

— Thank you very much for congratulations. It’s a pleasure that InstaForex set up such an award to throw it open for analysts so that they could test their skills. Well, I personally have no favorite currency pairs. I usually trade the EUR/USD, pound sterling, Aussie, and gold. I cannot say which pair is more predictable since they act differently at different times.

As an analyst, who gained credibility with our traders, can you tell your view on the currency pairs? I mean – is it true that every pair has its own character and needs special approach?

— You know, I’ve chosen the pairs that are not that related with each other. For example, it’s now a pleasure to trade the Aussie since it shows good trend movements. But this is not in the style of the euro which feels quite restrained. So, it’s very difficult to take market entry and exit decisions for this pair.

You have received a prestigious award based on the voting results of traders, who risked their money relying on your trading recommendations. It seems that your profession is quite difficult involving some physiology foundation, isn’t it?

— You know, I can’t judge traders who follow my recommendations. I think I gained credibility with them because of accurate market entry recommendations. In their turn, they voted for me by way of a thank you and supported me during the whole year. Thus, I am very grateful to them. My special thanks for the guys who keep following my blog and taking part in discussions there.

And now, a tricky question to you. Do you copy? I mean when developing your trading strategies, do you peek at your colleagues’ materials so that to make sure you’re on the right track?

— Well, I do think a trader should have his own trading strategy. I don’t practice peeking or using someone else’s materials. I rely on my own experience and background only. Sometimes I read Bloomberg or Reuters analysis.

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