Mohamed Abdel Haleem: An achievement of $4,751.31 Payout from CFDs
Meet Mohamed Abdel Haleem, an Egyptian residing in Dubai, who has seamlessly transitioned from a banking career to the dynamic world of trading, achieving a remarkable payout of $4,751.31 from CFDs. Since 2017, Mohamed has been immersing himself in the foreign currency exchange field, a domain he was always fascinated by due to his previous profession. A seasoned professional in the financial field, Mohamed’s journey with The Trading Pit (TTP) has been nothing short of extraordinary, passing the TTP Challenge with flying colours and showcasing his ability to adapt, learn, and succeed in the field of prop trading.
1. Tell us a little bit about yourself.
I'm Mohamed Abdel Haleem, an Egyptian currently living in Dubai.
2. How long have you been involved in trading?
I've been trading since 2017.
3. What inspired you to pursue a career in trading?
I have a background in banking and currency exchange background is what sparked my interest in foreign currencies and exchanges. Although I am not a full-time trader yet, since leaving my banking job, I've gained enough experience to generate a fixed income through trading.
4. Do you have a trading plan, and how strictly do you follow it?
In the past, I used to feel lost due to following numerous strategies. However, now I focus on trading in the general market direction.
5. Can you share your strategy for successfully completing the TTP Challenge?
I don't focus on specific currency pairs or follow recommendations from external sources. My approach is straightforward: I analyse the daily chart to determine the general direction, then drill down to the 4-hour and 15-minute charts. If they align, I make my trading decision based on the 1-minute chart, aiming for 30-40 pips per trade.
6. How would you rate your experience with TTP?
My experience has been perfect. The platform, support, and withdrawal process are all top-notch, and the Arabic support team has been incredibly helpful.
Trading with TTP offers more control. I adhere to the Daily Drawdown limits and use the Dashboard to manage my emotions, ensuring I stick to my trading plan and preserve my capital, which I struggled with in the past.
7. Why did you choose TTP over other proprietary trading firms?
I trust the management and their proven track record. The Scaling Plan is very promising, and the availability of support in Arabic made it an easy choice.
8. What advice would you give to other traders attempting the TTP Challenge?
If you decide to opt for an account similar to mine, with a balance of 100k, my advice would be to treat your balance as if it were just 5,000, taking into account the Daily Drawdown. This is a good amount to trade with and allows for effective risk management. It’s crucial always to secure and trail your profits, meaning you should consistently move your Stop Loss (SL) to lock in profits as the market moves in your favour. This way, even if the market turns against you, you have the potential to exit the trade with some profit or, at the very least, break even.
It’s important not to be patient with losses. If a trade is going against you, it’s better to close it, accept the loss, and step away from trading for the rest of the day.
9. Describe your best trade.
Most of my trades meet my expectations, but I am particularly fond of the EUR/USD pair as it consistently hits my targets.
10. What is your number one piece of advice for new traders?
Ensure you have a solid understanding and a well-thought-out strategy before diving into trading. Avoid blindly following others, and make it a priority to grasp the fundamentals of trading first. Dedicate time to researching and gathering information. Focus on learning first. It’s crucial to comprehend the reasons behind price movements on the chart if you’re still unclear about why prices are moving in a certain way.
11. Can you outline your risk management plan?
I always use stop-loss orders when I'm not actively monitoring my trades and prefer to trade with smaller lot sizes while keeping a close eye on the market.
12. What recommendations do you have for someone just starting with The Trading Pit?
Familiarise yourself with the rules, read the FAQ, and don't hesitate to reach out to the support team or the Arabic team for clarification. Never go trading through the challenge without first making sure you have a clear vision and all the info you need.
13. Can you share any online resources that have significantly contributed to your trading development?
Anwar Badran and Simsim Trader. You can find them both on YouTube.
14. What made you trust TTP for your trading career?
My trust in the company stems from my knowledge of the management and the founders, including Illimar, whom I've met in Dubai. Knowing that they are transparent and have a solid background in the industry gives me confidence in TTP.
Mohamed Abdel Haleem's story is a vivid example of how a strategic approach, combined with disciplined risk management and the right resources, can lead to trading success. His journey from banking to trading and his ability to adapt and thrive in this new arena is commendable, and his hard work has started paying off. With TTP, he found a platform that aligns with his values and provides the support he needs.