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Trader Interview

Matthew W

Tell us about your experience at Alphachain 

My path to proprietary trading began following my Master’s in Finance at the University of Edinburgh. Throughout my MSc and my undergraduate degree in Biological Sciences, I thoroughly enjoyed data analysis and I gained practical experience using statistical and financial modelling. After finishing my MSc, I searched for a role that could combine my passion for data analysis with a fast-paced environment. Proprietary trading was an excellent fit for both of these criteria, especially considering its rapid evolution and increasing reliance on quantitative methods. As I had no prior exposure to trading, I thought Alphachain’s comprehensive, risk management-focused training program would be an excellent foundation for my new career path.

 

In order to effectively manage my live account, I had to develop countless new skills and utilize many others that I already had. Trading demands an excellent understanding of technical analysis, as well as strong research and analysis skills. My educational background provided me with a highly analytical and logical approach to problem solving and I believe that these skills are my biggest strength as a trader. Specifically, they helped me devise a trade plan that was grounded in sound technical analysis and underlying financial theory. After an exhaustive analysis of the backtest results I was confident with the strategy and so far, has been profitable.

 

Successful trading, however, also requires an extremely strong sense of willpower and mental strength. Stopping the outcomes of your previous trades from influencing your ability to think objectively when entering new trades is extremely difficult, and is the skill I have struggled with the most. I believe this is the main source of both the stress during trading and my worst performing trades. I distinctly remember a day where at the last minute, I decided not to enter three trades that met my entry criteria, purely because I was coming off a short string of losses. These trades would have made me 150 pips and was a turning point in my live trading. Since then I have developed a strict trade plan to help me enter trades without bias, and practiced mindfulness daily following our coach’s recommendations.

 

More recently, I have started to utilize Alphachain’s quantitative backtesting tool to refine my entry criteria and help minimize my emotions. The tool has taught me how to code my own strategies in Pine script and I have thoroughly enjoy performing robust analyses using this algorithmic approach. Given my strengths in statistical modelling and financial analysis, I would like to make quantitative trading a core part of my trading career in the future. I am currently learning python and in one year’s time, I hope to be designing and implementing my own quantitative strategies on Alphachain’s higher capital accounts.  

 

To-date, I have been live trading for three and a half months and my experience of proprietary trading so far has been extremely exiting, albeit intense. Whether performing backtests of my strategies, researching or trying to manage my emotions on the live account, trading has demanded perseverance and an ability to maintain a high level of concentration. I have thoroughly enjoyed the experience thus far and am looking forward to the next challenge trading brings. 

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Disclaimer:

By trading with securities you are taking a high degree of risk. You can lose all of your invested money. You should start trading only if you are aware of this risk. Alphachain Academy doe not provide any specific investment advice, we are an trader education company. All information provided on this site is intended solely for the study purposes related to trading on financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity analysis or similar general recommendation regarding the trading of investment instruments. 

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