STA Blog

Dan tips up on pancake day: STA monthly meeting 13th Feb 2018

Industry veteran Daniel Gramza’s address at our new address, the Walkie Talkie building at 20 Fenchurch Street, London EC2M 7QH, was eagerly anticipated.  He reminded us that once before he had travelled to Britain from his native Chicago to address an audience of technical analysts: in 1990 for Cambridge Research – which does feel like a very long time ago.

The fact he started out trading in the futures and options pits was self evident as he regaled us with hand signals and shared reminiscences of his early days.  Again, it all feels a very long time ago – something I was reminded of today when, in conversation, I made the old-fashioned hand signal for a telephone call (thumb and index finger extended across my ear).  More importantly he said, ‘the floor influences how I think about markets’ and that ‘on the floor you hear it by sound’, and charts are a picture of that.

He then went into a detailed description of candles, their interpretation, and the psychology behind them.  While perhaps a bit too basic for STA members, the way he explained these did seem to resonate with some of the audience and a few are points worth reiterating.  For example: ‘the body of the candle represents market acceptance, while shadows are its rejection’.  I also liked the idea that after a significant candle, the next 2 to 5 periods are crucial.  Trouble is, this might create too much ‘wait and see’.  Paradoxically he claims to like long-dated options, yet feels that this trade must be profitable within 3 days.

The charts he used were rather dark and lacked definition, supplied by the spread-betting arm Fineco of Italy’s UniCredit bank.  He has obviously worked with them before (three of their staff were prominent at our meeting), and has plans for another few talks in the UK; he offered VIP passes to the audience for The London FOREX Show in 10 days’ time – which STA members can already get as a perk! (Call the STA office on 020 7125 0038 for more details).

Poor thing, having struggled a bit standing in front of the screen projector – so the charts ran across his nose – he then talked at the screen, thus blocking the audience’s sight line of the section he was talking about.  After that his mobile phone rang in his pocket.  He had the grace and wit to say: ‘I think that might be a margin call’.

Posted in Finance, Markets, STA news, Technical Analysis, Trading, Trending
Tags: , ,

The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA. The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. None of the information on the STA’s blog constitutes investment advice.

Not ready to join? Stay Updated

If you want to learn more about membership and being part of the STA, sign up for our updates so we can keep in touch.


Monthly Meetings

The STA holds 11 monthly meetings in the City of London, including a summer and Christmas party where canapés and refreshments are served.


Latest Videos

As a service to our members, many of whom are unable to attend all our monthly meetings, we have been making videos of meeting presentations for several years.


STA Libraries

The STA has an extensive library of classic technical analysis texts. There are over 1000 books in the collection. It is held at the Barbican Library with a smaller...


Market Technician

Latest research and news

More Info

World Class Tutors

STA Course Lecturers

More Info


Be part of something special

More Info


View latest posts

More Info