Hicham Ahouzi
Discretionary Fundamental Power Trader

Hicham AHOUZI

APAC power trader focused on New Zealand and Japan electricity markets. I combine hydro–thermal stack modelling, weather-driven fundamentals, and discretionary timing to take directional risk in high-conviction regimes.

NZ & JP Power Directional Discretionary Hydro & Weather Regimes Model-Building & Automation
Active in APAC power markets (NZ, JP, AU) 5+ years in financial power trading & analysis

About

I trade APAC power markets with a regime-first, high-conviction approach. My edge comes from deep fundamentals — hydro storage, weather regimes, load dynamics and thermal stack behaviour — supported by full-stack modelling I built across NZ, JP and AU.


I transitioned from modelling into discretionary trading in NZ, where I proved my ability to identify structural regime shifts and convert them into multi-month directional exposures. My mandate later expanded to Japan, managing both markets simultaneously, which sharpened my understanding of bandwidth, focus and the discipline required to scale risk only when the signal is clean.


A sharp correction in 2025 forced a reset and reaffirmed what drives my best performance: concentrated attention, clear regimes, and asymmetric distributions. I also played a role in stabilising the APAC desk after major Australian losses — reinforcing my value beyond individual P&L.


My process is simple: regime clarity, fundamental confirmation, patient positioning, disciplined sizing.

Directional Discretionary Trading Fundamental Power Markets Hydro & Weather Regimes Model Development & Automation Low-Frequency, High-Conviction

Track Record (High-Level)

Selected Highlights

  • Consistent regime-driven profitability across multiple market cycles.
  • Largest gains generated during structural storage and weather dislocations.
  • Selective risk-taking backed by full-stack modelling and clear validation rules.
  • Disciplined exits during liquidity- or volatility-driven invalidations.
  • Low-frequency, high-impact execution with strict accountability.
Period Mandate Result (Range) Comment
2023 NZ Power Low to mid 7-figure Live trading launch Sep23 following full model build; regime inflection captured
2024 NZ Power Low to mid 7-figure Extended structural storage oversupply; strong directional alignment
Early 2025 NZ Power Low to mid 7-figure High-conviction bullish setup; exited during market-driven correction
2025 Japan Power N/A Japan mandate (2025): analytical build + early monitoring; no standalone P&L reported
2025 NZ Power Low 7-figure Reduced size; controlled downside during transition period

Performance is shown in ranges for confidentiality. Full figures available under NDA.

Selected risk metrics: Recovery Factor ≈ 2.0  •  MAR ≈ 1.5

Regime Contribution (Normalised)
2023 Regime
2024 Regime
Early 2025
Transition ’25

Normalised contributions across major trading cycles: initial launch, structural oversupply, bullish reversal, and transition period.

Trading Philosophy

Build. Validate. Execute.

My philosophy is grounded in accountability and skin in the game. I build my own models, validate regimes through fundamentals, and take risk only when the distribution is clearly asymmetric. The objective is disciplined, low-frequency execution that targets high-impact regime shifts.

  • Regime-led framework: fundamentals dictate positioning, never noise.
  • Accountability at every decision point, with clear invalidation rules.
  • Skin-in-the-game mindset: conviction paired with disciplined sizing.
  • Low-frequency, high-impact trading focused on asymmetric outcomes.
  • Continuous refinement of models, tooling, and market understanding.