Interview with AudaCity Capital’s Founder and CEO: Karim YousfiRaffaele
Who are you? What’s your background?
My name is Karim Yousfi, and I am the Founder and CEO of Audacity Capital (read our in-depth review here). Our company is situated in London and mainly deals with prop trading since 2012. I started my career as an intern in a German bank, and over the years, I developed the necessary trading skills. I am now a trader by profession.
When working for the bank, I traded for my employer using various financial instruments and in different markets. Apart from forex exchange, I also traded in stock index figures, equities and options. In other words, I can say that I enjoy my profession as I have a deep passion for the financial market.
Can you tell us a little bit about you as a trader?
As a trader who has developed trading skills over many years, I understand what struggles other traders face. This is why I founded Audacity Capital to fulfill the needs that were bothering me. I began developing Audacity Capital when I had just left my cushy job at a major bank to venture on my own. I was risking everything I had achieved to satisfy and fulfill my dreams during that time.
When my employer knew that I was planning to leave, he offered me more money so that I could stay. However, I declined the offer and proceeded with my plans because I wanted freedom. Along the way, I faced many challenges, and one was a lack of finances. Anybody who has ever ventured into this financial industry will confirm that you need to have enough capital to succeed.
What is AudaCity Capital today and what will it be like in the future ?
Our mission is to develop trust among the employees, management, and traders. The mission we have set is meant to capture the values and operating principles that should guide everyone in the company. It specifically encourages an environment that focuses on mutual trust, reliability, and ownership.
What’s the biggest achievement you have had from AudaCity Capital thus far? And in your life?
My biggest achievement in life is Audacity Capital. When I left my job at the bank, I was committed to following my dreams, which was developing Audacity Capital. I sacrificed all I had achieved to see my dream come true. Today, I can proudly say that Audacity Capital has assisted thousands of traders get the capital they need to begin trading. The program makes it possible for all traders to achieve and fulfill their goals and dreams in life. It is something that I have wanted to achieve ever since I started founding the organization.
How do you see the future of trading? More proxy traders or Robots/AIs?
I’ve noticed that there are two extreme sides to this topic: The first is the school of thought that believes that robots and artificial intelligence will dominate the future of trading. The second is the school of thought that believes humans will always be essential to the trading process. While I believe both arguments have merit, I am inclined to side with those who say that human or proxy traders will continue to dominate the financial market. Let me explain that in a moment;
As much as machines are more efficient than humans and can do things much faster or calculate outcomes much more accurately than us, machines lack creativity and judgment, which are two things essential in making decisions while trading. Humans are able to see patterns or trends where machines cannot, and we possess several other skills that machines cannot duplicate. Therefore, the future of trading relies more on proxy traders other than AIs and robots.
Some people say that Trading success is due for 80% to the right psychology, would you agree? What’s AudaCity Capital training approach?
I agree with the statement that psychology plays a significant role in trading, and it is important to understand how you can use your own psychology to your advantage. I am sure that in my case, I have been able to identify my tendencies and have learned ways to avoid making mistakes by improving my psychology. Even though sometimes you might fail due to a lack of capital, psychology in trading will help you succeed as you can avoid common mistakes in trading.
This is why at Audacity Capital, we do not train our traders the same way a trading school does. We expect our traders to use their psychology to maneuver in the financial market. We do not focus on providing an education that will make you rich. However, we encourage our traders to be prepared to learn new things in the market. By doing so, they are guaranteed a rewarding career.
Who are the traders that enrolled in 2021/22, and if you can say it, what’s the rate of those who succeeded to become profitable? What’s the “secret” of those who perform consistently?
At Audacity Capital, we give all talented traders a chance to be part of our amazing platform. In fact, our Funded Trader Program is always on the lookout for skilled and talented traders we can nature and invest in. We process lots of payouts monthly, and since our traders are unique and approach trading using different strategies, psychology, and discipline and remain profitable, we do not have a specific rate for our profitable traders. We believe that there are so many paths to success.
Our program does not over-promise traders or convince them of overnight riches. Instead, we tell them that those traders who remain consistent are focused and contented with the small improvements they make daily, and that is how they become professional traders.
What is your personal key to success?
I suppose the first thing that comes to mind is a little common sense. I would say that having a good understanding of how the market works and being able to develop a trading plan with clear objectives, risk management rules, and money management rules is the key to success.
There are tons of different business strategies out there, but for me, the most important part about trading in the financial market is having your personal strategy and then just committing yourself to it 100%. The next important thing is that you have to be disciplined. It’s easy in this business to get excited or overconfident, but you can’t let those emotions take over.
I always ensure I am in control of my trades to run my business effectively. I don’t want to be the one who’s being driven by the market. Rather I want to be the one who drives the market. I do this by setting up clear trading rules that help me achieve my goals and stay focused on what matters most.
While discipline, risk management, and trading skills are important to becoming a successful trader, I also believe that a healthy and satisfied person can become profitable in the financial market.
If trading can be taught and learned in just 4 months, why isn’t everyone we know a profitable full time trader? The 1 thing you would recommend traders start doing today so to get better results tomorrow?
While there are many things for traders to do to become profitable, it is essential to focus on the main ones to improve your chances of getting better results. First, traders should find free resources that will help them improve their trading skills. I would also advise traders to start using a live account instead of a demo account, no matter how much money they have.
Trading with a live account or real money brings a whole new experience as it exposes you to a different environment and a new way of thinking. This is something a demo account doesn’t offer. However, it is wise to start small and know yourself better. Ask yourself, what kind of a trader am I? What is my level of self-control? among other questions that will help you understand yourself better.
People unfamiliar with the world of trading believe it’s a nest full of snakes (Hollywood movies don’t help..), I’ve had very positive experiences so far from very nice and enthusiastic people: what can we all do to improve on this?
I have had my fair share of ups and downs in my years of trading, but what is important is never to give up. It is important to understand that many trading myths make people believe that trading is a scam. Trading is a real profession, and here at Audacity Capital, we do our best to encourage our traders to improve their trading skills by allowing them to test their strategies. Our program promotes a continuous learning process for all traders.