Miguel’s Trader Interview

Tell us about your background

In terms of my academic background, I got my undergraduate degree at IE University in Madrid, studying Information Systems Management, which was a mixture of Computer Science modules and Business modules. After I graduated I enrolled in an Investment & Wealth Management MSc at Imperial College London, which I’m currently about half way through.

Throughout my university years I did various internships geared towards both trading and the Investment banking world, these included stints at JP Morgan, Amplify Trading, and Relayto.

What motivated you to become a funded trader?

Simply, my love for trading. At the start of my 2nd year in university I discovered my passion for trading, which at first entailed trading small cap stocks. I did this for two years, both trading on a simulator and with real money. The possibility of becoming a funded trader allowed me to take that next step in my trading career.

Why did you apply to Alphachain?

I had traded stocks for a few years when I came across Alphachain Capital. The ability to be able to challenge myself trading in a new market, as well as be able to have the opportunity to trade sizeable funds in a more professional setting, was extremely intriguing to me.

What has been your best performing day? 

My best performing day so far was the 25th of March, where I only took one trade the whole day, but it was an A+ trade, with all the signals lining up on the various timeframes I manage. It was a low-stress, high-quality execution day, which is the best kind of trading day.

What have been your strengths while managing a funded account?

Staying selective in my trade selection. Due to the fact that I’ve been working on only trading, and refining, one strategy, it has allowed me to be more selective and not be trading all over the place, but rather very narrowly.

What has been your worst performing day and why? 

My worst performing day so far was late last week, on the 9th of April. This was an example of taking an A+ trade that doesn’t end up working out. The signals were all lining up, and I was well in the green early on, but the tides turned and suddenly the price surged to my stop loss. It’s unfortunate, but it happens every now and then. I’m just glad that the loss wasn’t the result of getting in too early, or just taking a bad trade in general.

What has been your weakness while managing a funded account?

Consistency with results. I haven’t been able to reach that next level in profitability by being consistent with my trades.

What challenges have you faced? 

I have faced and continue to face challenges as a trader early on in his career. Primarily with consistency, being able to perform consistently is one of the hardest things because we all get inpatient or too focused on price action. Furthermore, the pressure of performing with the money of others has definitely been something that I’ve had to navigate. It is something that is hard to come to terms with as a new trader, but once you start trading and get into the flow of things you end up forgetting that’s the case and can focus on your process.

When do you feel stressed and why?

Like any trader I feel stressed when I’m on a losing streak, and especially so when I know that I’ve been taking poor quality trades. Losing streaks are part and parcel of any trading career, and it is something you have to get used to as a trader, but that doesn’t make it any easier to navigate. This is especially true when you know you could have been more selective, rather than when you took an A+ setup and it just didn’t work out.

Which benefit have you enjoyed the most at Alphachain and why? 

Out of all the resources provided by Alphachain (The trader training programme, the access to countless traders, the webinars, etc.), it’s definitely the webinars that I’ve enjoyed the most. They provide amazing value and have helped me a lot with technical analysis as well as my own trading psychology.

What areas are you looking to improve? 

Most importantly I’m looking to improve my consistency. I need to work on continuing to analyse my strategy and backtesting it so that I know every minute detail that contributed to a winning trade. This will allow me to be more consistent with my trading, by taking only A+ trades.

Where do you see yourself in a year’s time? 

In a years’ time I see myself having increased my account size multiple times, being consistent enough that I can expect sizeable results most days of the week (As well as gaining 1% per week at least), and trading at least two different strategies that I will have mastered, instead of just one.