ChArles Payne is the founder, executive director and chief analyst of the company “Wall Street Strategies“. His stock selection brings significant profits to his followers and readers. He is a frequent visitor to “Fox Business Network” and several well-known financial radio stations- and TV programs.
Charles is widely recognized in the analyst community and recently published his first book “Be dexterous, act fast and get rich”. His opinion about markets is often listened to by various reputable financial institutions., and he is regularly invited for seminars and speeches.
Question: How did you first become interested in trading the markets??
Charles: I grew up in a relatively poor family in Harlem (New York) and wanted a better life. Next door to school, where i studied, there was a salon across the street “Rolls Royce” and I dreamed of the same. I also dreamed of living in a well-heated house in a non-criminal area.. I started reading “Wall Street Journal” in 14 years and bought my first mutual fund in 17 years, and the first share in 18 years.
Question: Do you ever use options and if so, what strategies do you prefer?
Charles: I prefer to write out “колл”-options versus profitable positions, which i'm going to hold in the long run, but I'm afraid to face short-term pressure in the opposite direction.
Question: What do you like most about the trading business?
Charles: The ability to make money, outplaying the crowd and being part of the action is the main reason to be involved in trading in the financial markets.
Question: How do you view losses and how do you determine the threshold of risk tolerance before, what is concludedand deal?
Charles: I try to stay disciplined and stick to a two-fold ratio of expected profit to potential loss.. Must admit, that during the recent fall in the stock market, several of our positions brought losses.
Question: Your trading systems are more geared towards long-term or short-term strategies?
Charles: To both. Before, I was sure, what traders should have 70% long-term and 30% short-term positions. but, for the current market conditions, I believe, that the best option for making a profit would be 60% stick to short-term deals.
Question: What are the key rules or factors you consider before choosing any potential trading opportunity?
Charles: Even though, what technical analysis plays an important role in our trading service, we always start with fundamental factors. I want to know, that the company, which stock I buy, has good potential in that case, if i get stuck in this position. We then use very simple trading patterns., including channels, Moving averages and volume.
Question: Which markets do you prefer to trade and track with your analysis tools?
Charles: US stock markets.
Question: What was your most memorable deal?
Charles: As strange as it sounds, but I cannot single out any special deal, as we have a lot of winning trades. But I get pride, when our trading ideas, who initially looked against us, allowed, eventually, take good profit for our clients.
Question: Considering all the variety of technical and fundamental analysis tools, as a beginner trader can avoid information overload, or, so-called, “palsy analysis”?
Charles: Complex issue – I use two dozen technical factors and often find it difficult to decide, what should I do. What can you advise here – study them all, and find five-six, that work directly for you.
Question: How would you describe your technical approach to the markets?
Charles: Efficient. I can buy at the bottom of the channel, but at the same time, I also do not hesitate to trade on a breakout. I try to be nimble, but at the same time I do not force events.
Question: What kind, In your opinion, The biggest misconceptions beginner traders have about trading the markets and trading systems?
Charles: They think, that it's easy enough. I had a lot of clients last year, who were inspired by trade in the markets of the BRIC countries, but as a result they suffered huge losses.
Question: What advice would you give a person, just now starting to trade in financial markets?
Charles: Keep your eyes open, don't bury your head in the sand, be prepared to take losses and do not become infantile. Always learn from the market something new.
Question: You could describe your typical trading day and average trade from preparation to execution?
Charles: Actually, it starts in the evening, when we review the entire range of my stocks for general analysis (stock movement, options activity, volume, any anomalies, etc.), then the filtering process takes place, including checking official news and important events. Next, I apply fundamental research, to form a short list of ideas, That, as I think, have the potential to be realized as effective deals.
Question: What decision-making process do you go through before choosing a particular market sector and a particular deal, which would be worth opening a trading position?
Charles: I take my list of candidates and watch the necessary signs appear. This is partly intuitive., and partly as a result of certain market actions.
Question: What analysis methodology do you use, to find the best trading opportunities?
Charles: I am using fundamental, technical and behavioral analysis of markets.
A source: Forex Magazine
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