Trading curiosity since high school got Samson Mzera trading to date. He appreciates the regulation efforts being made in the Forex market locally. Read up and understand why he thinks that the best way to learn anything is by introspect and self-realization. Here’s his story.
I really don’t know where to start so I will just say what I can remember. My trading journey started in 2014. I think I was in form three then. I have this habit of obsessing over something once it interests me. When I was first introduced to the concept of stock market investing I never thought it would change my life. But as time went by I found myself skipping classes to read Adam Smith, and Benjamin Graham. You know that moment when you realize what you do in class doesn’t make sense in life? I confused naivety for wisdom. Anyway I paid the price and my grades took a hit.
It reached a point and I thought I had read enough and it was time to invest. To buy stocks in Kenya you need a CDS account, but the CDS account needs a bank account and to open a bank account one needs a national ID.I had just turned 17. There was no way I was going to tell my parents to open an account for me because I wanted to trade stocks. (Mind you I was now in form 4 and K.C.S.E was approaching). But who was I to give up 😅. I explored my options and found a friend and we hatched a plan. We decided to find one of our teachers and asked him to register a company on our behalf in his name. We’d then use the company documents to open a bank account and a CDS account 😅. (Worst decision I ever made). In my opinion, trading stocks is so stressful 🙆🏽♂, especially from a boarding school. The only source of price information was the daily newspaper.
Once I finished high school I started exploring options. I remember searching for alternatives at the student center in campus. I was done with Kenyan stocks and wanted to trade elsewhere. I then bumped into Forex on some website. I was reluctant to try it because I did not understand the concept so I just registered to get some information and closed the website. A few days later I get a call, on True Caller it read Cyprus. I think it is safe to say that at one point we all felt important talking to a white person about investments and money. The brokerage call I got was from Windsor brokers. I think, the harder you strive for something the luckier you get. I’m lucky I never learnt Forex from YouTube in my initial days, I learnt how to trade from first-hand experience.
That isn’t to say that the journey was easy. I learnt that the best way to learn anything is by introspect and self-realization. I too lost money trading live, but I think that is an experience every trader should have as it trims ones ego and forces them to adjust expectations. In 2017 I begun using a trend following strategy and I have never looked back. That isn’t to say it is the holy-grail, but it is good enough. The weakest link between a trading system and trading success is the trader not the strategy. I think things are going to get better because of regulation in Kenya. A lot has been happening. My last comment would be, if your strategy is giving you around 4 out of 10 wins then just adjust your RR and it will make a really huge difference on the bottom line.