Meet Zakaria Benlahcene, a talented trader from Algeria who recently passed The Trading Pit CFDs LITE Challenge. In a recent interview, we sat down with Zakaria, who graciously shared his success story, well-honed strategies, and The Trading Pit's pivotal role in his trading career. Join us as we delve into the inspiring story of Zakaria Benlahcene and discover the secrets behind his success in the trading world.
1. Tell us a little bit about you.
My name is Zakaria, and I recently obtained a master's degree in management.
2. How long have you been trading?
I have been trading forex for 7 years and worked with finance companies for a year.
3. What inspires you to pursue trading?
I am drawn to the challenging nature of the forex industry, which motivates me to pursue a career in trading.
4. Do you have a trading plan in place, and do you follow it strictly? Briefly describe your Trading Plan.
Yes, I do have a trading plan that I adhere to diligently. Firstly, I avoid retaliating against the market when faced with losses. Instead, I wait patiently for the next day and assess the conditions before entering a new trade. Maintaining discipline and avoiding emotional revenge is crucial.
5. What was your strategy to successfully pass The Trading Pit Challenge?
I focus on supply and demand trading strategies, employing statistical indicators with settings 7, 3, 5, and moving averages with settings 200, 100, and 50.
6. How would you rate your experience with The Trading Pit?
So far, I am extremely satisfied with my experience at The Trading Pit. The company's offerings and support have exceeded my expectations, contributing positively to my growth as a trader.
7. Why did you choose The Trading Pit over another prop firm?
I Chose The Trading Pit due to their one-stage accounts and reasonable terms. This feature, coupled with the ethical and reputable nature of the company's employees, instilled confidence in my decision to join their team.
8. What would you like to say to other traders attempting The Trading Pit Challenge?
Stay committed and stick to your trading plan. Avoid anger and limit yourself to one trade per day. Focus on one currency pair, commodity, or index to prevent distractions. By adhering to these principles, passing the evaluation becomes much more achievable.
9. Describe your best trade.
My best trade was on June 15, 2023, when I traded the Dow Jones index. I entered a buy position at 33,870, and it rose to 34,350 within a few hours.
10. What is the number one advice you would give to a new trader?
My number one advice to new traders is to resist the urge to rush and seek instant riches. Patience and a steady approach are key to long-term success in trading.
11. How does your risk management plan look like?
While I consider my risk management plan to be good, I must admit that I am not as strict with it as I would like to be. It's an aspect I am continuously working on to enhance my trading strategy.
12. What would you recommend to someone who is just starting with us?
I would recommend anyone new to The Trading Pit to prioritize patience and emotional control when faced with price fluctuations. Additionally, it is crucial to set and maintain stop losses as they act as safeguards against significant market movements.
13. Share online resources that were significant in your trading development. Name and links are appreciated.
Unfortunately, I cannot provide specific online resources at this moment.
14. What made you trust The Trading Pit for your trading career?
I initially trusted The Trading Pit based on a friend's recommendation and further developed trust through interactions with the team and traders, seeing their ethical standards and commitment to success.
