A 28 year old from Borough, recently revealed how he made almost $2.1m in just over a year trading the stock and currency markets via V8Options – but still shops at discount stores.
Timothy Skies started with $4000 in capital from his savings, which he earned while working his previous job as a retail assistant. Last February, he started looking into trading stocks and currencies, via Forex Trading, Binary Options and Spread Betting. After watching every webinar and reading every ebook he could find, Timothy wasn’t satisfied. ‘I just felt there were a bunch of people out there portraying themselves as Guru’s and Mentors, trying to get more students, or should we say clients? Cause that’s what they are – either they ask for monthly fees to get an insight into their tips and trades, or they ask for your money so they can trade it. I wasn’t comfortable with either. If your successful why would you ask for other people’s money?’ Instead he chose to avoid the middle men (meaning he also avoided fees and commissions) and trade directly via V8Options – a trading platform to execute timely trades on a wide range of assets, including stocks, commodities and currency pairs, with great odds and returns.
Brave, some might say, especially given he struggled in school and has mild dyslexia. He thinks it actually makes him better at seeing patterns, and gauging trends. Whereas most experienced traders try to ‘read’ too much into the market and newbies usually end up getting confused. So instead he focusses on a single strategy – to keep an eye out for substantive events like company earnings announcements, or interest rate changes by central banks and places a trade immediately after the markets start reacting. “The market always takes a few minutes to react and usually continues reacting for sometimes hours after an important announcement. I simply note a few key announcements every week in my calender, and get rid of all distractions during that time and focus on watching the prices and executing as quickly as possible when I’m sure which way a currency or stock is heading. Easy does it – my granpa would always say.”
It’s a simple strategy, but its paying off. He’s built up his capital to just over $2.1mn in around a year. Unlike some traders who hold multiple accounts, he just has the single one with V8Options. He’s made a few withdrawals to enjoy a select few trophy perks like a red Ferrari F12 he splashed $260,000 on and a $14,500 Audemars Piguet watch. But being a success has its own challenges. Levels of worry and loneliness can certainly increase – with more time spent on work and changes in lifestyle. ‘People just expect gifts, and favours. Somehow I need to spend money to prove I’m a good friend? I believe life and friendships are about more than just money, and try stay away from people who limit it to just that. It’s not easy and sometimes lonely, but I gotta be true to me.’
“People think that if you have money in a business that you own, that you can do anything you like with it, any time. That’s a huge misconception – its simply not true. If I took all my money out, I wouldn’t be able to trade, and so I wouldn’t have an income. There are also things like taxes to consider. I wish people understood that. Most people earn at least a million dollars in their lifetime – but most don’t save it, or invest it. The majority of people spend most of their money and so have nothing to show for it. The majority of my earnings are saved, and re-invested through V8Options – that’s how you grow wealth.”
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