Desmond’s Trader Interview
Tell us about your experience at Alphachain
My route to proprietary trading began in University whilst studying Mathematics and Economics, I was eager to explore a variety of trading roles which led to applying at various Prop firms, Banks and Trading houses. Alphachain Capital distinguished themselves with a well-grounded approach to trading by focusing on training, strategy and risk management. I was also interested by the fact that I would be able to manage funds and build a live track record.
The motivation to become a funded trader stems from the fact that to succeed in the field, one must always be striving to improve and develop one’s edge over ever changing market conditions. This makes trading a challenging yet interesting profession as you begin to develop processes and routines that can be applied to many facets of life. I also wanted to pursue trading as I believe that over time, by focusing on the process over the outcome I will be able to attain time freedom, financial independence and have the ability to give back to my community in a way that will result in a greater understanding of investing and finance.
My interest in trading began whilst in sixth form and this led me to embark on a journey of developing my understanding and application of technical analysis, risk management and strategy development by watching a variety of YouTube videos and taking a few online courses from respected individuals in the Trading space. By partnering with Alphachain I was able to deepen my understanding of these core areas and construct a coherent trading structure and plan which is essential to successful trading.
Whilst trading, one of my strengths has been being able to remain focussed on the process as opposed to the eventual outcome; the outcome is simply a by-product of consistently executing each day on one’s trading process which may include journaling, backtesting, forecasting and reviewing trades and results. Being able to focus on the process has allowed me to remain patient but also persistent as I work to achieve my trading goals. Many traders tend to overestimate what can be achieved in one year and underestimate what can be achieved in five if a structured approach is adhered to and by remaining focussed on the long-term goals I believe that I will be able to maintain an attitude of discipline, dedication and patience on this journey.
Trading brings many challenges as the learning curve is steep; it requires that one relinquishes some psychological biases that many of us were conditioned with as we grew up especially in relation to money. One of the challenges I faced was being able to execute a trade after having a string of losses, this was down to the fear of losing and subconsciously attaching the result of a previous trade to the outcome of the next trade. I have been able to work through this by developing an understanding that a trader’s aim is to be profitable over a series of trades as opposed to a being right on a trade by trade basis. By being able to process trading from a probabilistic perspective one is able to grasp the fact that each trading setup is a mutually exclusive event. In order to trade successfully, one must ensure that a well-structured technical approach and plan is paired with a strong trade psychology and ability to think and function in a probabilistic manner. Each trading strategy is matched with its own hit rate and average Risk Reward ratio and I believe it is important to find a system that works for the trader and suits their risk tolerance.
Whilst working with Alphachain, I have enjoyed being able to relate and communicate with other likeminded individuals as we strive to work together, share ideas and achieve our trading goals. Given that trading can be an isolated profession, having a community of traders to interact with is beneficial to one’s growth and progression. I have also been given the opportunity to run market analysis webinars and write articles which has further developed my understanding of fundamental themes whilst aiding my communication, written and presenting skills. Working with Alphachain thus far has been a beneficial experience where I have developed and gained skills that will serve me throughout life and my progression towards becoming a consistently profitable trader (CPT).
Within a year’s time I aim to be executing my plan and attaining consistent profitability across the portfolios that I will be managing. This is will come to fruition through consistent application of the necessary processes required to be a CPT paired with patience, persistence and dedication.