Social media all over South Africa has been buzzing after the BBC featured a documentary on a global phenomenon known as Online Trading that is transforming the lives of millions. Just a few years ago this was only a dream for many, but now, technology has made the markets more accessible, and anyone can become a trader.
According to the BBC, over a fifth of the world’s 100 richest people owe their wealth directly to the finance industry. Trading and investing in the markets have given them a combined wealth of over $500 billion, along with a lifestyle of champagne parties, supercars, yachts, and private helicopters. Trillions of dollars are being traded by bankers, dealing rooms, and hedge funds, but what was once thought to be the exclusive domain of Wall Street and the city is now more accessible to everyone, said the BBC in a globally aired documentary. Online trading platforms have opened up the markets, and there are potential rewards available like never before. Thousands of people are dreaming of dropping their 40-hour week and turning to trading, which offers a way to make money with just a few clicks of the mouse.
Justyn and his business partner Akill also took some time to speak with the BBC and revealed their trading from home experiences. After leaving school their prospects were grim, but the one thing they were not lacking was ambition and determination.
“I didn’t want to be a Taxi driver, so I typed how to make money online. Trading came up!”
Without any formal training, the two started a business from home that has led to hundreds of thousands of dollars in investments through a trading fund that is still growing.
Unlike Mr. Muccio, Justyn gives little attention to market news and focuses on market history and analysis using online tools that are now available to anyone. “History repeats itself. You just have to work out the trends.”
“Beginners can do extremely well from trading, even if they have no experience, as long as they are given a good strategy.” – said one trading professional featured in a seminar on the BBC production. According to the BBCs research, many people no longer trust the banks to look after their money, and more than 100,000 people in Britain alone are putting their financial future in their own hands and trading the financial markets from home. The BBC featured several stay at home traders that were kind enough to share their stories.
Rene Muccio, aged 51, wakes up early every morning and prepares for a day’s work without ever having to leave the comfort of his home in Cape Town.
“Trading is so rewarding, I don’t think that I have actually felt like this since I was a small child. I feel at peace. I know what I’m doing, I know what I want to do, I know what I want to achieve. I look forward to it every day.”
Mr. Muccio is one of many Day Traders who has chosen to leave the week to week slog of a job and spends his time in front of a computer balancing financial risk and reward. The attraction of making hundreds and even thousands of dollars in a single day is obviously alluring to just about anyone, and that why many have already chosen to chase the dream of financial independence since the BBC production, but with high reward comes high risk.
In an interview published by The Telegraph, Mr. Muccio proudly admitted that he’d made $420 the previous day trading online.
Trading is not yet widespread in South Africa and mostly misunderstood. Gone are the days when only a select few were able to access the markets. Even more attractive is that people of limited funds are able to take the first step and start building their accounts from the ground up. Those with money to spare have a head start, but they still deal in the same markets as everyone else.
Jackson Burton, from Greenham, has an online trading account of six figures and boasted making $7,000 in only five minutes, trading online. Mr. Burton admitted to the BBC that, like so many successful traders, he had a rough start. Mr. Burton’s Porche and beautiful suburban home are a far cry from his rocky start.
When asked why he thinks some do well while others don’t, he was quoted to say:
“It’s not technical ability. You’ll gradually get the technical ability just with time, but you need to be able to cope with the knock-backs.”
Since his interview with the BBC, Jackson Burton has been approached by investors who were offering access to trading funds of up to $50,000,000. Now, living the dream, Mr. Burton spends his time away from the laptop getting fit and enjoying fine dining, no doubt paying no attention to the price on the bill.
With no sign of an end to difficult economic times, any opportunity to earn extra cash can make all the difference. So the stories of Justin, Charlie and Rene are an inspiration to us all, because anyone of us can relate to at least one of these stories.
The BBC report was an eye-opener for the many South Africans, clearly proving that not just wealthy tycoons and huge companies can benefit from the financial markets. You might not earn millions straight away, but you can live a debt free life, forget about the bills, and start living a fulfilling life worth living. It is commonly believed that trading the financial markets requires specific financial education and a large sum of money to get started. The stories of Rene, Justyn, and Jackson clearly disprove this theory. These stories are about people who started trading with no previous experience, beginners so to speak, who started trading the financial markets and were able to generate vast amounts of money trading from home.
So just how easy is it to start trading the financial markets? The most effective way is with the guidance of professionals. The best online trading platforms are now required to provide step-by-step consulting with online trading experts without any charge. This benefit is by far the best way to introduce online trading to people who have never experienced it and might be doubting their own abilities. When registering an online trading platform, all you have to do is request an experienced advisor, as you are entitled to it for free, and you’ll be guided by a professional who will help you navigate and avoid the common mistakes that new traders make.
The three stories showed different levels of trading, with various results, and different goals, but one thing all four people share is the desire for something more from life, and the willingness to learn and grow and take a chance on themselves. Are you prepared to step into the unfamiliar and make that change?