How I Quit My Job To Become A Full Time Trader

Written by Lucky Skosana on July 27th, 2016

How I Quit My Job To Become A Full Time Trader

When my family first discovered that I’d sunk R56,000 into trading systems and loans to fund a new trading career, they thought I was crazy!

And who could blame them.

But I wouldn’t have changed my approach for the world.

It helped take me from Bronkhorstspruit to the world of banking up to where I am today: Trading Forex for a living.

I was able to quit my job, become a full time trader, and in the process I live the life I want.

Today I want to show you how I did it.

 

From Bronkhorstspruit To Banking: My Journey To Full-Time Forex Profits

 

When I was young I moved to Bronkhorstspruit from Orange Farm with nothing.

What I did have though was the knowledge that success was going to require hard work and risks.

At the time I had a good job at a bank whilst also being a full-time college student.

And during this time (what time?!) I decided to learn more about the Forex market.

More importantly I wanted to teach myself how to trade.

My ultimate goal wasn’t fame or fortune like most traders you come across.

It was freedom.

As long as I can remember, I always wanted to do things differently.

In just three years after I began my trading career, I’ve achieved that freedom.

I’m bond free, I get to travel, I built my parents a house, and the R56,000 plus in loans I took out to learn to trade, were paid off years ago.

Now I’m definitely not telling you this to brag.

Just that an ordinary guy from Orange Farm was able to do it.

And that if I can do it, so can you!

The beauty of it all is that I can even do it anywhere in the world (that’s what I love about Forex trading).

It’s also afforded me the platform to help and train other novice Forex traders too!

I’ve seen people from all walks of life learn how to trade and become successful, and being a part of that puts a smile on my face every time I think about it.

I’ve trained bikers, doctors, painters, even a mechanic.

But getting here wasn’t easy, and the life I originally led was far from this dream.

After I quit my job, I worked out a flexible schedule so I could watch the market from 9 am to roughly 1 pm during working hours.

And on weekends, I would study market dynamics, patterns, you name it.

But I only got here when I discovered one thing...

 

 

The Day Trading Epiphany

 

Whilst I was on a two-week vacation at the South Coast, I discovered how much easier day trading was whilst away from home.

All I really needed was a computer, a reliable internet connection and a solid trading strategy.

It really is as simple as that.

And this is precisely how I achieved that freedom I was looking for.

The moment I returned from my holiday to work, I gave my months’ notice.

And I haven’t looked back since.

Day trading has taught me a great deal about myself and life in general.

I used to be one of the most stubborn and impatient people on the planet.

Learning how to day trade, and adapting to the norms of other cultures while travelling, has taught me to be way more flexible.

It was at this point I then started helping other people.

Everyone I meet wants to improve their life situation and reach their dreams.

This could mean having a better home or having a better means of transportation, but at the core we’re all striving to improve.

To date I’ve written four trading books, and have worked among investment bankers and asset managers for almost a decade.

This experience helps me understand the challenges the market throws at new traders, and to date I’ve trained, helped and nurtured over 26,714 South African traders.

To help novice traders avoid rookie mistakes, I share my trading tips and techniques with the readers of the Forex Diaries, Profitology, The Money Lab and Investing.com.

I’m also in the process of putting together a lucrative Forex trading service, where I share ALL my behind-closed-doors trading secrets, tips and trade ideas with my exclusive Forex community.

(Keep an eye out on The Money Lab for more information in the coming weeks, you don’t want to miss this!).

When I’m not busy enjoying the time trading has afforded me I also enjoy blogging, spending time with clients, and communicating portfolio information to clients.

 

Some Important Things To Keep In Mind

 

As a day trader I need reliable Internet access (something usually available in most countries around the world).

The only place I’ve had trouble is in parts of Africa, and as such I’ve found that a good rule of thumb is if an African country doesn’t have access to the ocean, where the internet cables run underwater, it won’t have good Internet.

Something else you need to know is that being a day trader is not a get-rich-quick scheme.

Becoming a consistent and profitable trader takes a lot of hard work, patience, discipline and time.

It also requires strategies that mitigate risk, where trading with a plan - winning more than we lose and our winners being bigger than our losers - puts the odds in our favour.

Trading only an hour or two a day allows me to maximise my time in the markets and limits my losses by not holding overnight positions.

But that’s what works for me, there are tons of different ways to approach the Forex market.

When it comes to day trading, you have to accept that losing money is part of the game.

Very often there can be a major news event that can send the market into a tailspin when I’m away from my computer.

And that’s precisely why I always minimise risk!

The idea of course, is to make more money than you lose over the long run.

And if you do, you can live freely.

Until then here’s to profitable Forex trading. 

Lucky Skosana

Lucky Skosana
Analyst, The Currency Club
The Money Lab