Interview with VPSEnry (DARWINS $LVS & $BDR)
If you review the “All DARWINS” section on the Darwinex platform, $LVS & $BDR will definitely catch your eye. When writing this, $LVS is the second DARWIN with more AuM on our platform and is featured in the “Top Invested“, “Good Scores“, “Return > 50%” and “Trending” filters. Not bad!
Tell us a little about yourselves. How did you first catch the bug for trading and how long have you been trading for?
Enrico: I started trading shares, investment funds and bonds in 2000. In Italy at that time taxes and trading costs favoured trading and the creation of very complete personal portfolios. Since 2005 I have started to get involved in the world of forex where little by little David and I have developed a portfolio to make our saving grow and then it has become more of a ‘business venture’.
David: I have always been interested in the financial markets and technology. While I was still at school I started to invest in shares and investment funds until 9 years ago, when I discovered the world of forex and its possibilities thanks to Enrico. Since then, We have been learning and evolving our trading until fund managers and equity firms started to take an interest in us. This led us to set up our company last year: Feycox Development S.L.
In regards to your strategy, which assets/pairs do you usually trade? What timeframes do you like using?
Enrico: We focus on the currencies that have more liquidity, although in principle we do not close ourselves off from any pair with reasonable spreads. The timeframes between 5 minutes and 1 hour are our favourites. We consider them to be more adequate for algorithmic trading as a daily timeframe.
As traders, what would you say is your main strength?
Enrico: I believe that my best virtue is that I have never treated trading like a game. Before preparing to manage my money through forex, I have spent time as a funds investor during various positive and negative periods that have prepared me to better understand the more complicated part of trading: the psychology.
David: I think that Enrico and I compliment each other very well. We have a very similar general vision of what we do and where we want to go. It is great to have the support of one another.
And your biggest weakness?
Enrico: Something that I have to improve is my study of the correlation between assets. I think that I still have a lot of work on in this regard.
David: The lack of time to be able to learn and to do many more things. Sometimes I spread myself thin because I want to embark on more projects than I am capable of.
According to our algorithms, your strategy stands out in particular for its Risk Management and Performance. Is there any advice you can offer to other user so they can improve their score for these attributes?
Enrico: In order to improve the Performance and the Risk Management it isn’t enough to have a good system. The psychological aspect is of equal or of greater importance. To be consistent you have to be disciplined. This means that the majority of the trader’s work is done before you trade, with analysis and knowing how you are going to react in each (positive or negative) situation. This is true both for manual and automated trading.
David: It is very difficult to give advice in the world of trading and for it to be really useful. Risk management is something that is very important, but that sometimes is not given enough emphasis. From my point of view it is fundamental to have some limits where one can feel ‘comfortable’ with the losses, otherwise it could affect their health. Personally, I think that should never be more than a 20% of maximum drawdown.
What would you say is the most important lesson you have learnt in the world of trading?
David: The are many things that you learn over the years. Without a doubt you have to have patience and discipline. It is also fundamental not to think in what you could have won in a particular trade or if the had not reached the SL etc.; the famous market “noise” can make you lose the overall picture.
Enrico: You can’t fall in love with any trade and you have to know how to accept losses and mistakes. You can never be stubborn.
Lastly, do you have any comments you wish to add for other traders or investors who are reading?
David: The forex market is full of people with lots of promises of returns but then end in frustration. This makes it very difficult to win the trust of investors. I would give one piece of advice to traders: always think about what is best to make the most of your savings and not about how much your can earn in Performance Fees from your DARWINs. My recommendation for investors is to be patient with your investments in order to avoid losing money by buying too high and selling too low.
Enrico: I second every that David says.