Here’s to finding the right footing into currency trading even after being duped. Real life lessons shared from one of our members, Alex Gabriel.
My name is Alex Gabriel and my background is in banking. It was during my days in the banking sector that I was partly exposed to forex trading but never got to learn how to trade. Few people are willing to share knowledge about forex trading and for that reason, it remains a very obscure business not very known by not only “wanjiku” (Kenyan terminology for a citizen) but even some of the well to do in the society. My thirst for knowledge and desire to want to learn trading was catapulted by the realization that the banks make a lot of money from it.
I attended so many meetings particularly the end of quarter or end of the year and a department that never missed in the list to be recognized was treasury debt which was doing forex trading. They would be showered with praises and as they would come to the podium to receive an award and a representative would be given a chance to speak. He would use out of the world terminologies that made the audience look like fools purporting to be pro bankers. By nature, I am a risk taker and a highly curious person. My level of inquisitive supersedes the everyday need to just know for the sake of it. I love delving deep into the roots. So when I could not get a headway via my colleagues I decided to source information from the public domain.
Fortunately or unfortunately I met with the typical Kenyan who knows everything and is a master of none. And so my first interaction with one of such character was a lady, very smartly dressed with a beautiful office and myriad of screens all around her, similar setup that I had witnessed in the banking industry. I shared with her my desire to learn forex trading and how ready I was to put in hours so that I could become good and proficient at it. She looked at me and asked me how bad and how fast I wanted to get rich. I told her of my personal goals and things that I wanted to have acquired by X period of time. It is at that time she looked at me and told me how long it had taken her to rise to the top and how she had mastered the forex trading world. She told me she had taken over 15 years and hence going by what I had shared with her as regards to my goals. She was convinced I wasn’t ready to put so many years in learning. And it was at that point she shared with me her plan on helping Kenyans become rich without putting in hours of learning.
I was curious and hence interjected and I asked her to share with me her master plan. She quickly opened an excel sheet and showed me a list of Kenyans who had invested in her with a minimum of 50k. The number of people on the list was shy of 200. She went ahead and showed me another list that contained bank account numbers and amounts that she was depositing to the people who had invested in her, some were weekly deposits and other monthly. Oh boy! I was fascinated and thanked God for having directed my steps to this lady. As if she knew that my level of excitement was at a super high level she turned my attention to the 3 screens that were in front of her and for almost 10min she tried to explain to me what the charts were all about and how she is able to make money by interpreting their movements. Now that 10 min was like an eternity, I was intimidated and my mind was oscillating on what she had told me earlier. Her master plan, her plan to help Kenyans become “rich”.
I turned to her and asked what the requirements were for me to invest. She told me that she was only interested in an initial deposit of KSHS.50, 000 equivalent of $500 and further share with her my bank details. The account she would be depositing the money. I was excited at the opportunity and on the same day we met later in the day at a local hotel and I gave her KSHS.40, 000 equivalent of $400. She asked me how often I will want her to be depositing the money, either weekly or monthly. I suggested monthly. She promised me a 25% profit of my initial deposit per month until when I would want to cancel my contract with her. Your guess is as good as mine, I had no intention to cancel the contract. And days went by and finally, it was the end of the month. I tried to call her line and it was off. I became patient since she had told me that there are instances when she turns her phone off when she is trading to avoid interruption. 3 days went by and on the 4th day I went to the office where we had first met. The office was locked and with a big sign reading VACANT. My attempts to get information where she had gone to did not bear any fruits. I was informed she was only a tenant in that office for under 20days. Yes, I know what you are thinking. I was conned and so many other Kenyans whose stories maybe will go untold.
I was frustrated and angry. I told myself that I would keep off forex trading as long as I live. Well, that was never to be the case. Forex seemed to follow me everywhere I went. Be it in a social gathering or on social media there was always an interruption by someone or a post touching on forex trading. The most recent one was towards the end of last year in a WhatsApp group that I am a member of and it is made up of writers. And one day the admin introduced to the group one of the newest members. The admin gave a brief intro of this new member about what she does and particularly how she writes about forex trading. In under 10min after reading the intro. I decided to send a personal message to this forex writer. Before long she responded and we picked up a brief chat until I decided to call her.
She did not pick my call immediately but she was professional enough to return the call. We spoke at length about my interest and something that stood out during our conversation was the fact she put a lot of emphases that to become a good trader I needed to put in hours to learn. As we were nearing the end of our conversation she asked me if I would be interested to join her during a seminar and a workshop that was being held in Nairobi at Nairobi safari club hotel. I was pessimistic until she mentioned it was a free training workshop. That conversation and the reason that I attended the workshop made me believe that trading is a legit business, yes through which you can make lots of money but a venture that required one to put in hours to learn extensively.
I have been on that journey of learning since then. Whereas I am not trading in live account yet, I am still on a demo account. My level of knowledge is far greater than I bet most people who claim to be a professional trader. I have discovered that trading is more than just having a powerful strategy. It has also to do with the mindset of the trader. The psychology angle in relation to trading is so critical that I would dare say, it determines if one will excel in trading or not. Let no one lie to you that you will become a good trader by using an indicator. There is no shortcut in trading. You have to be willing to learn. If you want to be a good trader. Do not be greedy. Learn the trade first, take down notes. Find a mentor who will not inspire you to make money first but one who will help you walk the dangerous yet exciting journey of forex trading.
The lady who invited me to the workshop is yours truly Sylvia. I am super grateful to God for her and Denis for taking the time to build a team of professional traders in Kenya. Keep up with the good work. I have also met a silent but yet a highly knowledgeable person in the name of Billy, who is also in the group. Billy has been sharing with me not only trading tutorials but nuggets that make a good trader. I am soon going to commence live trading and I will share my experience when the time is ripe. Cheers!