Brice’s Trader Interview
Tell us about your background
My name is Brice Magarian, I am a Remote Junior Trader and currently a 2nd year student in ESSEC Business School in Paris. I got interested in Forex at around the age of 18 and had been trading demo and small accounts funded by my savings. In summer 2020 I joined Alphachain and followed the teachings and mentoring to become a successful trader in the long term.
What motivated you to become a funded trader?
I wanted to become a funded trader as I knew I had some issues in my trading related to consistency and risk management. Alphachain through the live webinars and classes gave me the opportunity to reflect on these issues and progress on them. Furthermore, I desired to join a community of traders so that I could also widen my trading knowledge on a daily basis, and I knew Alphachain had a strong sense of community.
Why did you apply to Alphachain?
I applied to Alphachain because I wanted to progress and be mentored by individuals that have experience for years in the field. I knew their guidance would be valuable and give me an opportunity to hone my trading skills.
What has been your best performing day?
My best trading day has been in April,recovering some losses and getting back in profit after a few months of floating below break-even. I had managed to refocus myself on the essentials and basics and this trading day has given me a boost in confidence that was much needed.
What have been your strengths while managing a funded account?
My strengths have been realising the importance of journaling and analysing my mistakes and why a trade had gone wrong. This is not something I was used to doing before joining Alphachain but the mentoring has taught me the importance of journaling and learning from mistakes. Furthermore, one of my strengths is that I have reduced the emotional impact of wins or losses from my trading.
What has been your worst performing day and why?
My worst trading day has been early in 2020. I had placed a few bad trades after an event in my life that had caused trauma and I was not in a clear headspace to trade but did not consider this and still decided to trade. This turned my account in the negative and kept me in the negative for a few months as I struggled to break-even.
What has been your weakness while managing a funded account?
My weakness has been risk management. It is something I have greatly improved on since joining Alphachain and is not as much of an issue, but I feel this is my greatest area of weakness and need for progress. Whether it be in terms of lot sizes chosen, or RRR, it is my weakness and something I am actively working on.
What challenges have you faced?
Being a student in France’s top business school means that workload can get heavy at times and give less space to trading. One of the biggest challenges has been being able to juggle my education and trading into a right balance without feeling overwhelmed by both. This is something I have learned to manoeuvre around with time, but the first few months were definitely a period of struggle and trying to strike that right balance.
When do you feel stressed and why?
I am admittedly not an often stressed person, and trading in itself does not stress me as I have managed to achieve an indifference to losses and wins, however, I do get stressed during exam periods in school and this tends to have an impact on my trading. This is something I am aware of, and whenever I enter an exam period, I notify my mentors letting them know my trading activity will be reduced as I start focusing on school.
Which benefit have you enjoyed the most at Alphachain and why?
I have enjoyed the availability for a mentor to ask questions and receive guidance. Alphachain also has a strong sense of community, and an active base of traders sharing their thoughts everyday, which I feel is important to me as I can see how fellow traders are structuring their trades and the process behind their trading. Furthermore, traders receive morning market briefs from Desmond, and this is something extremely valuable to my trading as it helps me save time and provides value.
What areas are you looking to improve?
I am looking to improve on my technical trading skills. I follow a simple trading approach without much dependency on indicators, but this is something I want to include in my trading, starting with Alphachain technical strategies.
Where do you see yourself in a year’s time?
In one years time I still see myself as an Alphachain trader. I see myself as having achieved account progression goals and a more successful trader than I am at the moment.