Patricia Elbaz is a technical analyst who works with clients on a freelance basis offering foreign exchange and equity analysis to forecast market moves. She uses charts and data based on historical prices and technical indicators to predict the market.
Patricia first developed an interest in finance, whilst studying for a joint degree in Economics and French in Nottingham, she spent a year abroad at the Ecole Superieure de Commerce in Toulouse. “A lot of the work was practical and part of our thesis was to interview head of Banks. This gave me a good insight into the world of finance”.
After graduating, Patricia joined Standard & Poor’s MMS as a trainee Technical Analyst in 1989, covering mainly the FX (Foreign Exchange) Research desk. She worked her way up to head the Technical Analysis desk during the mid 90’s up to 2000, which was an interesting time within the FX market. “It was a fascinating time to work in Finance, seeing the effects of deregulation, sterling coming out of the Exchange Rate Mechanism and so many developments in Mergers & Acquisitions”.
Since starting out, there have been major developments on the technical side, which has made it much easier to access information. Today, most banks have economists working alongside technical analysts.
In 2000, Patricia decided to go freelance, to manage her family time. “For many women working within the financial sector, it is difficult to get the right balance, but it can work out, with a lot of organisation. Many either go part-time or freelance in some capacity”. As an independent technical analyst, she has conducted seminars for the French Institute of Bankers, Futures and Options World, and Bloomberg, as well as the Society of Technical Analysts (STA). She lectures at LSE, King’s College and the French Business School, ESCP. She is also a regular contributor on IGTV, with a monthly ‘Charting the Markets’ appearance, where she gives advice and information based on forecasts across the FX and Equity markets.
Working in finance is a fast paced environment, and she is always busy. For Patricia, there is no such thing as a typical working day, and it varies depending on if she is working with clients or lecturing. One of the key things she has to do is to find out what has happened in the markets overnight, so that she is able to update her charts, and she then emails this information to her clients. If she is lecturing, she will work on preparing her course lessons.
The course she runs is for people already working within a financial company, who are sent by employers to learn more about technical analysis. She really enjoys being able to help people learn more about the subject, and gain more knowledge of technical analysis so that they are able to successfully trade both in the short and long term. Trading is much more accessible nowadays, and her clients range from undergraduates to professionals. “In my opinion, the key to successful trading is to have a clear strategy. It can be a great hobby, but also a bad hobby if it goes wrong, and being disciplined, and knowing where to set a level to stop is very important. “Patricia also adds “When I first started out, one of my former bosses gave me a great piece of advice, ‘stay humble, stay in charge, and don’t let fear dictate your move.’ I think that is so true!”
When asked what her most memorable time in the market Patricia commented, “it has to be when my parents attended a Foreign Exchange conference that I was speaking at with 200 other participants. I was more nervous about them being there, seeing me at work, than presenting to a room full of specialists!” For Patricia, one of the highlights of her career has been getting the chance to meet Prince Albert of Monaco and talking about the FX market.
For anyone wanting to work as a technical analyst, an interest in Finance in research, in historical data and trends is useful. Patricia also explains that you have to really enjoy it, and be disciplined “It is a very dynamic and fast moving environment to work in, and every day is different. It is definitely not a monotonous job, it requires good analytical and social skills to succeed”.
Given the current financial climate, and the developments in the lead up to Brexit in 2019, there is a lot of uncertainty in the global markets, but Patricia thinks that at the same time there are some great opportunities ahead, and she is excited to see what the future holds in the world of finance.
To find out more about the use of technical analysis in financial markets, Patricia Elbaz can be contacted via email
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