Ahmed showed excellent account and risk management skills
in January 2018 and got a $1,000 prize!
Ahmed’s interview and see his account statement
to make your own success story
How long have you been trading?
I have been trading since 2007.
How did you get involved in Forex trading?
I entered to the world of trading by trading stocks. Later through my academic studies I started to learn about Forex market. I was curious to know more about it and decided to get in-depth knowledge by daily reading, studying and joining forums to learn from the experienced traders.
I was attracted by the high liquidity/volatility of the market and the 24 hour market that allows trading at anytime. Needless to say that the ease and availability to practice trading on demo account encouraged me to surf this world and to know how it works.
What is your trading style?
My trading style is based on technical analysis supported by fundamentals (Fundamental data is momentum that fuels the charts to follow the technical analysis).
Do you practice risk management?
Yes…as best as I can….Usually it’s a challenge to any trader but it can be built by practice.
What are some good habits smart traders develop?
Looking to the big picture, long term swing trading, patience, self control, consistently following the micro and macroeconomic news and market sentiment that related to the asset being traded.
Describe your best/most memorable trade (How much did you profit? What was the strategy? What pair?)
I went long on GBP/USD pair in November 2017 It developed a daily bearish candle of over 300 pips after the rate hike by Bank of England. Then I noticed that the price action was against basic fundamentals and decided to open a long (buy) position from 1.30-1.31 level.
I closed my positions at 1.38 with around 700-800 pips on plus side. I managed to get profit 8 times larger than my initial investment. Price went further up after I closed my position but at the end one needs to be happy with whatever the market gives as long as its green pips..!
What advice would you give to new traders?
Continuous reading and learning , patience , practice in demo trading, then in real trading start with small amount in the beginning to get the confidence of the real market trading. Never get tempted by the high profits that can be made but also think of high losses at the same time in order to balance your emotions. Risk only the money that you can afford to lose. Self Control is the key to success and a key challenge to most of the trades. Be always humble to the market and never get over confident…!
Considering the current state of the market, what do you think are the news/events traders should keep an eye on?
News related to US Dollar.
News related to political instability that diverts investors to other assets (like precious metals).
Watching the behavior of the cryptocurrency market and studying its influence on other markets as well.