Trade View Trader Profile Elay Ghaly

Trader Profile – Elay Ghaly

We would to Introduce you to one of our Traders, Elay Ghaly.

Below you will find out more about his journey on how he become a Trader at Trade View.

 

Introduction

Since a very young age I was always curious about the intrinsic price and value of something. As a young kid I traded basketball cards with friends at school. I realised if I could buy them cheap, I could sell them for a profit.

So I did.

I took the same approach and applied it to CD’s, and then to computer hardware and peripherals, something I’ve always been passionate about. I’ve never been a salesman, but I like to think I know a good deal when I see it. We had no choice, growing up my sisters and I didn’t come from a wealthy family so we learnt to appreciate the value of a dollar at a young age.

Moving forward a few years after initially studying engineering/computer science at uni, I decided to make a move to Business IT. Whilst completing my degree I was fortunate to intern for one of Australia’s leading stockbrokers here in Collins St, Melbourne. During that time I caught the bug, the chaos of the financial markets and everything that came with it.

 

Brief background about your trading

My first “trade” was in a company called HCC – Hutchison’s Child Care. I had no idea what I was doing, but I bought 1000 shares at $1 (staff IPO) and sold it a few months later at $1.68. I was hooked. This had to be the way forward.

After completing my degree I pursued a career in IT, only to realise this wasn’t what I wanted to do for the rest of my life. So I started learning about the markets and trading just prior to the GFC. Those days I was trying to soak in anything and everything by reading all kinds of books, articles and anything I could find online. After filtering through much of snake oil and “free” information on the internet, I quickly learnt who was the real deal in this industry and who wasn’t.

And so the journey began, studying hundreds of charts a day, purchased hundreds of expensive books, and watched all kinds of markets in real-time.

In 2008 I began creating my own methodology using geometry, patterns, momentum, statistics and price action. I trade this method today, I call it ‘PTMAP’.

Fast forward to 2015 I decided to leave IT for good and make the move to full time trading, and haven’t looked back since.

 

What you learnt at Trade View

I contacted the guys at Trade View because it was time to start thinking about automation, for two main reasons:

  • Time:
    Sitting in front of the screen all day trading was hard work, and I wanted to alleviate some of my screen time by having algorithms execute for me, so I can focus on looking at other strategies, other markets, different timeframes, and most importantly other aspects in life.
  • Testing:
    Prior to completing the In-House Workshop, I always backtested bar by bar and noted results into Excel. To give you an idea I have some spreadsheets of 1 minute strategies with over 20,000 backtested rows, all manually done. This sort of testing was rigorous, painful, time consuming (some tests took weeks and months). Looking back I learnt a lot about the markets testing this way, but it was a complete and utter inefficient use of my time, and I’ll never do this again.

 

After meeting with the guys at Trade View I learnt how to build my ideas quickly. Test them in minutes. Review and analyse the results in seconds. It was just another world.

 

Please share some of your success and failures as a trader

There are many.

The first was obviously being offered a seat on the Trade View desk, for many a priceless opportunity. The experience and lessons you gain from sitting on a trading floor are like none other. For myself it was the realisation of many years of hard work.

Obviously trading full-time is the ultimate reward but you can never sit on your laurels thinking you’ve “made it”. Markets have a habit of testing everyone at some stage so you have to be able to adapt.

Of the failures, I have made all the mistakes retail traders make but none were more prolific than blowing out accounts, mainly due to over leveraging and overexposure. The In-House Workshop and Trader Development programs go a long way to explaining risk management done the right way, not just by simply risking 1 or 2% on any trade. That is a good start, but there are other risk management models worth considering.

Since completing the workshop I’ve designed many systems. Over the 2015 Christmas break I completed a system I had been thinking of quite some time, did some extensive testing and have since turned it on at the beginning of this year. The results below show initial funding before additional capital is allocated:


NOTE: Bots went live 6th Jan 2016. Statement is as of present.

           Below is a snapshot of the AUD/USD, one of the pairs traded in the portfolio.

AUD_30m

Statement3_w

 

Conclusion

Looking back all these years- had I known who to follow and have someone help me along the way, would’ve saved me countless lonely hours, scratching my head looking for answers.

If you are profitable, fantastic, keep at it. If you are not, look in the mirror, stop what you’re doing and GET SOME HELP from a professional. It doesn’t have to be the guys at Trade View (although how could I not recommend them 🙂

Most importantly:

  1. Find someone you can relate to, resonate with and understand. There is no point getting help from someone who does not know who you are, where you are at with trading, and where you want to be.
  2. Make sure they actually trade for a living, as opposed to the “educators” out there. If they are not risking their own money, they have nothing to lose. They only stand to gain by taking your money.

When it all comes down to it I really do think the secret is this:

Those who want it will find a way. Those who don’t will find an excuse”

 

What are your future Goals?

The main goal now is to build a vast diversified portfolio of strategies on top of those I currently trade, towards trading a large hedge fund, and help those who want it enough to become professional traders.

If you have questions I’m happy to discuss over the phone or meet in person, just please don’t waste our time because we’re busy trading 🙂

Happy trading.

 

Phone: +613 9018 5438

Skype: tradeview.eg

E-mail: elay.ghaly@tradeview.com.au

 


Join us in our next In-House Systems Building Workshop to start learning how to automate your trades and develop trading and money management strategies that suit your needs.

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4 Comments

  • Michael Colahan January 20, 2016 at 9:28 am Reply

    Elay
    nice story your hard work and dedication sounds like it is paying dividends I have been with Trade View since December 15 and look forward to compiling some of my own automated systems thanks for sharing your profile and good luck in the future and hope top talk sometime about your new strat.
    Regards
    Michael Colahan (micvon)

    • elayghaly January 22, 2016 at 4:20 am Reply

      Hi Michael,
      Appreciate your kind feedback and great to have you on board. if you need help or stuck on something, feel free to call or email us.

  • Steve Young January 22, 2016 at 12:53 am Reply

    Elay,
    Story sounds just like me,i will be down with u guys to fine tune my trading on 6-7 feb
    Iam looking forwad to it

    • elayghaly January 22, 2016 at 3:21 am Reply

      Great to hear Steve, look forward to seeing you then. Elay

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