Yesterday, the day before the Spring Equinox, MSTA and Head of Marketing for the Society of Technical Analysts Eddie Tofpik, sprang into action with his first interview for IG TV. As part of an educational tie-up with the company, we aim to give you a stream of interviews with many different market professionals so that you can learn, compare styles, and pick up new ideas to incorporate in your analysis.
A veteran covering charts on television, Eddie’s real job is as Head of Technical Analysis & Senior Markets Analyst at ADM Investor Services International Limited. Better known to some as Archer Daniels Midland, it is a US global food processing and commodities trading operation. Eddie is based in London at its investor services branch in the City. Do look up his profile on LinkedIn where you will be able to read some of his published articles.
He uses rather complex – or maybe we should call them ‘busy’ charts – which he readily admits can be ‘’a bit of a mess’’. Lots of lines, labels, grid lines and clear targets, this is where pausing a video comes in so handy for novices. He labels important patterns well and explains channels and pitchforks on the charts used. His simple moving averages have rather unusual periods: 18, 54, 99 and 198 days; maybe he’ll explain his choices another time.
His presentation is clear, concise and he talks to the layman, reminding us: ‘’don’t fall in love with your position’’.
Straight from the mouth of a true veteran!