The latest success story making waves in the community is that of Muntaser Abdalla, who recently passed The Trading Pit's Lite CFDs Challenge.
We were fortunate enough to chat with Muntaser after his triumphant venture. In a recent interview with The Trading Pit, Muntaser was kind enough to share his trading journey in detail, and it will serve as an inspiration and guide for all traders out there.
1. Tell us a little bit about you.
My name is Montaser Abdullah. My 9-4 job provides stability with a permanent contract. However, I've always envisioned having an extra income. I had some general awareness of forex, but I also understood its risks.
2. How long have you been trading?
I've been trading for over a year and a half now.
3. What inspires you to pursue trading?
I knew that while forex presented high risks, there was potential for good income. Trading gives me the opportunity to learn from my mistakes and continue my personal development.
4. Do you have a trading plan in place, and do you follow it strictly?
Yes, I have a trading plan in place. I apply the supply and demand strategy in my daily trades. My entry points are chosen with precision, stops are kept narrow, and I always aim for high profit with a 3/1 ratio.
5. What was your strategy to successfully pass The Trading Pit Challenge?
Risk management is pivotal. I adopted techniques suitable for this challenge, like defining stop-loss orders and determining the position size to protect my capital from substantial losses.
6. How would you rate your experience with The Trading Pit?
It's a 10/10 for me. My entire perspective on trading has evolved after this experience.
7. Why did you choose The Trading Pit over another prop firm?
After thorough research and engaging with their support team, The Trading Pit was the perfect fit for me, even before I joined.
8. What would you like to say to other traders attempting The Trading Pit Challenge?
Take your time. Focus on your trades, and make sure to leverage the courses provided. Don't rush through the challenge.
9. Describe your best trade.
Most of my successful trades have been on gold.
10. What is the number one advice you would give to a new trader?
Don't rush into making decisions. Be patient, stay focused, and always keep your end goals in sight.
11. What does your risk management plan look like?
I calculate the size of my positions, considering my risk tolerance and the gap between my entry and stop loss levels. I ensure never to risk more than a specific percentage, like 1/2%, of my total capital in one transaction.
12. What would you recommend to someone who is just starting with us?
Begin with a robust trading plan and have faith in yourself. Stay committed to learning and growing as a trader. Avoid hasty decisions.
13. Share online resources that were significant in your trading development.
The Trading Pit's YouTube channel: https://www.youtube.com/@TheTradingPitOfficial/videos was instrumental. Other channels that helped me include Youssef Galal: Jalal Youssef https://www.youtube.com/@youssefgalalttp/videos, and TRADiNG hub: https://www.youtube.com /@TRADiNGhub/videos.
14. What made you trust The Trading Pit for your trading career?
What solidified my trust in The Trading Pit was its outstanding reputation, transparency, extensive support and resources, success stories, testimonials, and educational materials. My research only further validated my choice.
