Everyone has thought about making money whether it be from a high-end job, stock trading, or building a business. Everyone who has attempted this will tell you how difficult it is to actually start making money. It takes knowledge, dedication, and patience just to get the ball rolling. Where would an average person go to start? This article will summarize one man’s experience “Sam Richardson ” learning to trade stocks and currency from Samuel & Co Trading, founded by a 26-year-old millionaire Samuel Leach.
The training takes place at Watford, UK called the Junior Trader Programme that teaches beginners about stocks, shares, and foreign exchange (Forex). This program was unique in that a person could actually make money, with consistency up to £20,000 ($26,000). The other participants range from experienced traders that used demo accounts to complete beginners.
The first note Sam brings up is the misconception about day trading where the media would describe trading like the Wolf of Wall Street. In actuality, it is a quiet room looking at computer screens. Sam learned that a trader must be emotionally detached only focusing on numbers and statistics. Stocks trading is all about calculating and managing risk to not gamble or hold a losing trade. The program instilled a few methods such as “stop-loss” sell if the market moves away, and only pick brokers that are FCA certified. Trading is a psychological game to not be greedy or afraid of loss.
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Sam found this difficult during the training as he found it tricky and traded at the wrong time, he wasn’t passionate in his work, unlike the founder Samuel Leach. Samuel Leach started at University from humble beginnings wanting to make money to help his parents, managed to make over £250,000 trading, teaching students all over the world.