Shaun Benjamin is a young entrepreneur and self-made millionaire from Forex trading. His net worth amounts to $100 million, according to last info.
Benjamin was accepted to study engineering after enrolling in 2012 but started trading Forex after he couldn’t afford school. He soon mastered the commercial arts and made his first million.
Shortly after, he founded a non-profit mentorship and training centre, Benjamin Forex Academy, focused on reversing unemployment and gaining financial freedom for others.
Benjamin is also a director of Benjamin Investment Group (Pty) Ltd, which offers investment tools and mortgages. Benjamin tweets about mentors, trading signals, general trading information and aims to inspire others.
Shaun Benjamin – Early days and career
Shaun Benjamin was born into a middle-class family. He was raised by a single mother, which was not the easy way.
Upon the completion of high school in 2011, he was accepted for the Engineering Course, but he left it for an IT course.
Due to financial constraints, Benjamin could not continue with his studies and dropped out. But he firmly decided to make something of his life. According to his own words, he never wanted to work for someone. Instead, he was taken by the idea of starting his own business and being his own boss. Benjamin strived for financial freedom. And He finally succeeded in securing a Learnership and obtained a National Certificate in Coal Blasting Operations.
To achieve his goals, Shaun Benjamin started trading on the Forex market. Eventually, he quit that job once he had reached financial stability. Then he went on to found Forex Trading Academy, where he now helps others achieve the same goals, he managed to achieve through the skills he had acquired.
Benjamin Forex Academy is part of Benjamin Investment Group (Pty) Ltd.
The Academy offers an effective and affordable Forex trading course. The course encompasses trading strategies that have been proved profitable for its clients. The training is done free of charge.
Training and mentorship are provided not for profit but to help people achieve financial freedom.
However, the Academy aims to educate people about Forex trading secrets so that they can also profit from the market. Since the beginning of its activity, the Academy managed to help over 200 individuals reach their financial freedom through their training.
Benjamin Forex Academy Forex Trading tips
1. Can you really make money in Forex – No one wins all the time
Step by step, you realize that making money in the stock market systematically or in Forex has nothing to do with a 100% successful system.
Some of the professional intraday traders may be consistently profitable on a daily basis, but even they will experience periods of loss. If you are a bad loser, particularly susceptible to losing money, you have a lot to learn.
Successful Forex traders with many years of experience admit that only 40% of their positions are profitable. Some go as high as 20%. The trick is in managing your profit. These same Forex traders can generate a lot of money even with such a low success rate as long as the profits made per position are far greater than the losses.
Taking the measure of this idea is considered in your decision-making (if your system allows it), and moreover, a loss is traded better if it is a small loss.
2. How to Make Money with Forex – Get Organized
The organization is a critical part of success in making money with the exchange rate. It is this organization that will decide your future successes in the markets.
It all starts with the trading calendar. You define a strict arrangement that will cover the vast majority of your trading and help you reduce subjective elements.
Many newbie traders develop bad habits. For example, they trade too much at once, get lucky, double their account in a few positions quickly.
3. Can bad habits be profitable? Yes. Systematically profitable? Not at all.
As soon as such a trader has won once, he has fortified a bad habit by trading large volumes, resulting in ease of gain. He will, therefore, now tend to trade aggressively and with a lot of risks. They will continue to do this until they begin to lose in some positions and then starts affecting their account in a much more substantial way than their winning positions.
4. Don’t run after quick wins
Indeed, to earn money online, you must not succumb to the ease and temptation of taking your profits too quickly. This is a fundamental point in order to understand how to be systematically profitable with Forex trading.
A good place to start is to forget about unrealistic goals and assumptions you may have about trading. There is obviously a probability that you will be profitable in two or three trades with very fast profit-taking; however, in reality, Forex trading requires a more substantial technique in order not to lose your investment as a whole.
Newbie traders in intraday trading who operate in the short term and on small movements represent this way of thinking. The statistics relating to these traders is around 90% loss during 90 days. It makes you think!
Essentially, in order to make money, you must not trade too much. Each position taken is a risk. The more positions a trader takes, the more he will potentially be exposed to losses. The idea is to trade with an edge that has been tested and found to have a positive long-term trend. This does not necessarily mean taking positions every time the market moves, but rather waiting for specific market conditions to take a trade and apply your plan.
Therefore, it is not necessary to focus on the money but on the process of learning how the market works and the strategies and trading tools. See which approaches seem to suit you the most, and think about how to apply the strategy you have chosen.
It is important to absorb broad information concerning Forex trading to generate a global vision of this activity and better understand it.