Hey, I am a 16 year old student from London. I’ve been extremely passionate about trading, mainly Forex, for about a year. I trade everyday after school, using the MT4 platform, and have recently completed a Forex course, just to extend my knowledge. Been making consistent profits, around £100-200 a day from a £1000 demo account, and will be depositing some capital after my GCSEs. Looking to build up my porfolio until I’m 21 and out of uni (5 year porfolio), which hopefully would make it easier to land a place in a hedge fund. Will carry on trading for another 5 years, until the age of 26, and hopefully construct my own fund, with a 10 year porfolio. Would like some advice, or any opinions from any successful/experienced traders, to help me achieve my ambition. Wouldn’t mind some amateurs, like myself, also replying.
Making this sort of profit through trading you won’t need a fund or a job. You will soon be able to buy your own small English county.
If you must have a job for day to day cash or to demonstrate employment income, anything will do. In fact you could afford to be picky and go for something easy which you also enjoy.
If you’re making that much a day on a demo account and you’re only 16, then why even think about working for someone. It’s clear you have potential to be your own boss, so just keep going. F*** a job
According to a compound interest calculator, if you start with £1,000, and you add 10% each trading day - the low end of your performance - then over the 260 trading days of a single year you will grow your account to £57,822,669,934,248.70.
So don’t worry about a job. Worry about how to spend £57 trillion on your 17th birthday.
Parents is the only issue, wanting me to go get a “proper” job. I would like to work for a hedge fund for a couple years though just to see what the industry is like, and then hopefully open my own after having a good portfolio and a bunch of investors. Thanks anyway for the advice anyway and motivating me.
I think it’s a good idea to capitalise your experience as a trader and expand your horizons in life. If you decide to open a hedge fund, you’ll need to convince clients to invest with you and a normal job will give u a better chance to make your hedge fund more successful as you’ll develop social skills and meet people.
Welcome the life of trading. I can understand what you are feeling as you want to peruse a career in trading I guess. However, just an addition to your idea that I think that being the largest currency market forex itself encompasses some dangers which make it a difficult and competitive market place. Here you may not be able to trade as you have planned. But yes you should work with demo so that you can be able to make realistic and timely plan. Best of luck!