Ghanem showed excellent account and risk management skills in November 2021 and got a $1,000 prize!
Read Ghanem's interview and see his account statement – to make your own success story
How long have you been trading?
I have been trading since 2010.
How did you get involved in Forex trading?
It started with someone calling me from a not-so-good company, I had no knowledge, and my trades were rigged, so I lost a lot.
What is your trading style?
I have my own way of trading and it depends on the closings of the candles at all timeframes, starting from monthly to hourly ones (I call them operational areas).
Do you practice risk management?
Yes, I do to some extent, depending on the nature of the trade and the division of contracts on the areas of entry.
What are some good habits smart traders develop?
For me, it is several habits, including (dividing entry contracts - lock in profits - setting close targets and far targets), hence, the portfolio is strengthened first and I do not need to place a stop loss except for large contracts.
Describe your best/most memorable trade (How much did you profit? What was the strategy? What pair?
The best trades were a group of swing contracts on gold, buying from several levels, starting from $1200.69 an ounce and closing at $2050 an ounce – resulting in a profit amount of $630 thousand.
What advice would you give to new traders?
The best advice is patience - with the division of entry contracts and lock in profits first, even if the amount of pips is low.
Considering the current state of the market, what do you think are the news/events traders should keep an eye on?
Interest rate data, jobs data, inflation and then the ongoing event which is the new variant Omicron.
What are the most important things you look for in a Forex broker?
Credibility in terms of order execution, spread and low commission.