Interview with AndromedaHydra (DARWIN $DCD)
DARWIN DCD is one of the most promising DARWINS on our platform. Despite its relatively low experience, it is one of the Trending DARWINS (= one of the DARWINS that gained more investors during the last month) and its impressive results also granted him the On Fire badge recently… We are proud to introduce AndromedaHydra, the trader behind DARWIN DCD!
So, tell us a little about yourself. How did you get started and how long have you been trading for?
I am 36 y.o. father of two. Have been trading for 12 years now. Used to work in a treasury of a commercial bank for total period of about 4 years. Doing individual/private trading for 10 years and using MT4 platform for about 3-4 years. During the course of that time I tried many different strategies. I started trading price action models, then turned to trend following, then did multi indicator trading, harmonic trading, breakout news trading, impulse trading, reversals and many other things.
Interested in spending time with my family, sports, science news, resource-based economics, sustainable and renewable energy sources.
About your trading strategy: what pairs do you usually trade? Do you always trade the same timeframes?
I did a lot of research during past few years. Right now, I am utilizing an automated scalping system with strict stop loss. I think that it works best for me. Since it is automated, time frame doesn’t matter, but it is an intraday system that’s for sure. Trading only currencies. There is no particular preferences in terms of currency pairs. I am saying so because even though I have my favorites I may replace some of them with others in the future so I don’t think the exact list of pairs that I trade is worth mentioning.
Want to add here that even though my system is fully automated, I do manual interference from time to time. Up until now, those interferences were totally worth it.
I have over 50k usd of my own money on trading account. The list of my followers is rapidly growing so is the pressure and responsibility. Therefore, I want to say here that my risk sensitivity is quite high.
As a trader, what would you say is your greatest strength?
My greatest strength would be discipline and will power. I had bad days like many of us. And who knows, may be bad days are still waiting around the corner. However, whatever happens I will be sure to come back.
And your biggest weakness?
Some may point out that my weakness as a trader is that I solely trade currencies. Have no interest at all in bonds and stock market. Although I understand these markets, I prefer only currencies. I believe they are more liquid and more straightforward.
Our algos tell you are very good at when it comes to Timing & Performance. Any ideas for other traders who need to improve on those attributes?
When it comes to timing, I guess you can improve it by searching better exit and entry points. Same goes for the performance. If you see those number weaken it might mean that the strategy is not too sound. It means that you probably have to adjust inputs in the indicators that you use, optimize your strategy, rethink it or change it entirely. What I mean here is that those attributes have nothing to do with physical ability to trade but with underlying strategy itself, in my opinion of course.
What is the most important lesson you have learnt in your trading career?
The biggest and most important lesson that I had to learn is that risk management is everything. No matter how great your strategy is. Took me two accounts with significant amounts of money to blow to figure that out. That was few years ago. For the past two years, I performed well. On my other trading account, for instance I can say that even though profitability is relatively moderate I managed to keep afloat and never risk too much. You always have to be able to be back in the game. Moreover, as Darwinex is all about reputation and investors I never use 100% account risk. When in some cases and with other brokers, I agree, it might work but not in Darwinex. Takes time to gain those attributes numbers.
Finally, any comment you’d like to share with the fellow traders who read this?
I don’t really know what to say in this final bit. I don’t want to lecture traders as I think there are some of you out there who are way more successful and more talented than me. Want to wish everyone the best of luck. Don’t get easily disappointed. Losses are part of the game, so if you were beat by the market, pick up the pieces, rethink your trading and come back. And one more thing. You absolutely can be profitable in forex despite what the naysayers say.