The Traders That Made Millions From Their Spare Bedrooms
- Is It Possible To Making Money Online Trading? These Traders Did It From Their Spare Bedroom
- They Made The Impossible Look Like Child's Play. Look At These Millionaires Who Made It Big From Online Trading
These Traders Actually Made Millions In An Industry Where Most Don't
It is one of the most lucrative endeavours you will ever come across and when done right you can earn a lot of money.
However, it is also an industry which is full of scams and people promising the earth just so that you pay them for their subscription service long enough to make them rich and to make you poor.
One tool you have against the scammers is to study those who actually made it and acquired vast amounts of wealth.
Some got lucky and subsequently lost it instantly but others kept it because they knew what they were doing.
Steve Oliverez Lost $40,000 Before Making Millions Online
Steve Oliverez is the trader that took massive gambles which ultimately paid off but he has changed his tune when it comes to investing with his millions now.
Back in 2017 he noticed that US Republicans were proposing a tax regime similar to that in the 1980s. Back then when the sitting President, Ronald Reagan, announced a lower tax plan the stock market soared.
Although we are in different times to the 1980s, Oliverez took the gamble and bet $100,000 that a rally would take place after the new administration's fiscal policy was implemented.
It paid off.
Navinder Singh Sarao Is The "Hound Of Hounslow"
Navinder Singh is the infamous British trader who wrote his name into the history books when he was largely attributed with the "Flash Crash" which saw trillions of dollars being wiped off the American stock markets on the 6th May, 2010.
And he did it all from his parent's spare bedroom in Hounslow, London.
Singh will forever be part of trading folklore after his trading had led the famous US market index, the Dow Jones, to drop over 1000 points in a matter of minutes.
French Trader Made A $6Billion Dollar Trade On What He Thought Was A Demo Account
One of the first things that is recommended when you start trading in the markets is to "paper trade".
Platforms like eToro offer beginners the ability to participate in the market without committing any money up front by creating fake trades that mimic real ones.
It was this distinction which led to a huge error for Harouna Traore who, in 2017, still thought he was paper trading when in fact he had accumulated a real live $6billion position trading in the derivatives market.
Robert Mfune Was Working In McDonalds Whilst Trading In His Spare Time
Between 2007 and 2010 Chris Camillo turned $20k into $2million. A ridiculously impressive feat on its own but when you put it into context that during that time the US economy was unravelling in one of the biggest financial crises it had ever seen then you know this guy knows what he is doing.
How did he do it? Using something called information arbitrage.
Camillo would study trends from those around him whether it would be via his Facebook or in his place of work the investor picked up on what people were getting excited about.
Tim Grittani Has Turned $1,500 To Over $8million In 6 Years
Like every young adolescent in their early twenties, Tim Grittani was looking for a way to make money as quick as possible. In 2011 he stumbled across legendary penny stock trader, Tim Sykes, who made millions from his dorm room in college.
In a bold step Grittani tried to emulate his mentor as he withdrew his life savings of $1,500 and started speculating on the markets.
He lost it all.
Self Made Millionaire From UK Started Out With £1,000 Before Making Millions
The Foreign Exchange (FOREX) markets are huge and the current best estimates for the amount of daily transactions amount to nearly $7 trillion dollars a day.
With that amount of money sloshing around it is no wonder that they are a favourite with short term online traders looking to buy and sell different currencies quickly to take advantage of price discrepancies or taking a view of the health of a countries economy.
In his early twenties Luke Blackburn had very few qualifications and his school teachers predicted that he would fail in life.
Legendary Japanese Trader Takashi Kotegawa Made Of $150million
If you have ever studied day trading you will know that the Japanese have had some of the best traders that have ever lived. In fact the famous "candlestick" indicators were invented by rice traders in the Osaka markets back in the 18th century.
With Takashi Kotegawa it would seem that the tradition has lived on as he became famous in the 2000s for being a self taught trader that turned $13k to $150million all from the comfort of his bedroom dressed in his favourite manga pyjamas.
The now 41-year-old managed to the make his fortune over an 8 year period with the $13k he had saved up working whilst in college trading the Japanese Stock Market, The Nikkei.
Trader Richard Dobatse Makes $1million Then Loses It On The Robinhood App
If you have been apart of the trading industry over the last 20 years you would have noticed some big changes.
Not only are trading in stocks and other advanced market instruments now accessible to the average investor but Apps like Robinhood have made commissions on your transactions a thing of the past.
Whilst creating a more level playing field is advantageous to the small investor it can also lead to some crazy situations like it did to Richard Dobatse in 2017.
16-year-old Forex Trader Who Makes 6 Figures After Learning On Youtube
After scrolling his Instagram one evening 16-year-old Edward Ricketts saw an flashy ad of a FOREX trader in front of a new 'lambo' and thought to himself...I want that lifestyle.
After realising it was a scam he decided to put more research into the online trading world and decided, with the help of his Dad to setup the account, to invest his £160 savings into it.
He lost it on the first day and avoided his parents for the next few months.
Timothy Sykes Built A Million Dollar Portfolio From His Dorm Room In College
One of the most well known penny stock traders who shot to fame in the early 2000s, Timothy Sykes was on of the early "bedroom" speculators who was chasing his fortune in the markets.
A student of Tulane University, the teenager would regularly miss class to day trade where he famously turned $12k of his Bar Mitzvah money into $1.65million.
The outstanding achievement grabbed the attention of the TV producers for a new documentary, Wall Street Warriors, which followed the daily life of speculators and investors in New York.
Millionaire Ross Cameron Teaches Trading On YouTube
Ross Cameron is not like most traders. For one - he is succesful (remember 90% of traders end up losing money then quitting and closing their accounts). The second distinguishing feature is that he documents his progress and actual trades that he makes on a daily basis for free on his YouTube channel.
He founded an online community called Warrior Trading which was designed to help day traders get started and to continually monitor the markets for opportunities.
Not As Impossible As You May Have Thought?
There are lots of examples here of people can trade their way to success and still can today.
As Edward Rickett's example demonstrated, the "get rich quick" style doesn't work for the vast majority but if you approach it methodically, the big returns will come.
Don't be one of the "put it all on red types" and you will be beating a lot of retail investors in today's market who don't understand risk management.