Young Forex Millionaires Who Beat the Odds

These young forex traders get their first millions from forex trading before the age of 30. This is their success story.

Trading in the forex market has tempted many people to become traders, hoping to gain profit. Some of them are successful, but others must accept defeat. Among those gleaming stories, young forex millionaires got their money through trading. These millennial traders gain millions, perhaps even billions before they reach 30 years old. Gaining success at such a young age is quite an accomplishment considering most young traders struggle to make the right decisions. Some of them tend to be hasty, which leads them to make the wrong decisions.

However, these young traders break the misconceptions about young traders and prove that despite being young, they know how to make the best decisions. It is safe to say that these traders have beat the odds by reaching success at such a young age. These people are:

1. Ref Wayne: Becomes rich by the age of 22
2. Simz D'Mandla: Reach success by the age of 20
3. Shaun Benjamin: Made his first million at the age of 21
4. Nelisiwe Masango: Becomes a celebrity millionaire by the of 28
5. Dan Legg: Dubbed a young millionaire at the age of 21

Here are the success stories of those young Forex millionaires.

1. Ref Wayne 

Ref Wayne or Refiloe Nkele, is a young Forex millionaire from Soweto, South Africa. His story starts out like any other kid. He was a regular student, going to school and doing his homework while also helping his family. Sadly, he had to drop out of school when he was in the 9th grade. He then earned a living by selling SIM cards.

His life changed when he met David Schwarts, a trading expert. David was the one who introduced Wayne to the world of forex and inspired him to start trading at the age of 16. As it turns out, he knows what he is doing. By 19, Ref Wayne received his first million through trading. Wayne was already a billionaire when he reached 22.

Today, he is known as an entrepreneur, philanthropist, best-selling author, and inspirational speaker. He also teaches people about trading through webinars and videos. He is also known for writing a book called The Art of Trading.

What to Learn from Ref Wayne

According to his book, his trading strategy combines technical analysis and trading psychology. Technical analysis has long become an important aspect of trading. It allows traders to make better decisions through data and chart analysis. However, only relying on technical analysis isn't enough to get the best trading results. It is also important to learn trading psychology as well. Trading psychology allows traders to help control their emotions. That means traders will have clearer minds during trades and can make decisions that aren't affected by their emotions.

2. Simz D'Mandla 

At an early age, Simz D'Mandalla showed interest in doing business. He had been selling various items since he was only 7 years old. As if that wasn't enough, he started working at his local barbershop to help his family make a living. However, this money was not good enough to sustain himself.

He met his mentor, Mr. Willem, in high school. Through Mr. Willem, Simz D'Mandla learned stock trading. D'Mandla then implemented the strategy he learned from his mentor in the forex market. His effort did not go in vain. By the age of 20, Simz D'Mandla had become a Forex millionaire.

This success has inspired D'Mandla to create The African Millionaires Den. He realizes that the gap between the rich and the poor has grown daily. Through his initiation, he wants to help people by sharing knowledge about trading. He believes the gap can be bridged through forex trading; because people would earn Dolar or Pounds; thus, their income won't be affected when the Rand is weak.

What to Learn from Simz D'Mandalla

According to Simz D'Mandla, forex trading is the preferred option for traders as it offers greater profitability than trading with local currencies. This is due to the higher liquidity and volatility of the forex market, which presents traders with more opportunities to generate profits. This particular fact and his ability to capitalize on the right opportunities are what makes Simz D'Mandalla a young forex millionaire that beats the odds.

3. Shaun Benjamin 

By age 21, Shaun Benjamin made his first million from forex trading. This young forex trader's journey wasn't always easy. He had to drop out of IT school due to financial difficulties. That stepback did not stop Benjamin from trying his best. He then secured a Learnership and later that year, he obtained a National Certificate in Underground Coal Blasting Operations.

However, Benjamin was determined to become his boss to be financially independent. That's when he started forex trading. Who knows that trading brought him his first million at age 21? When he felt like he had enough financial backup, he founded Benjamin Forex Academy, where he helped others to reach their financial goals through forex trading.

What to Learn from Shaun Benjamin

In his endeavor, Benjamin utilizes risk management and master trading psychology. That is how he transforms himself into a full-time trader. When a trader enters a position, there is always a risk that the trade will not go as expected, resulting in losses. Risk management is essential in trading because it helps traders to manage and reduce the risk of losses. On the other hand, mastering trading psychology is also critical. It allows traders to maintain emotional stability and discipline, ultimately improving their chances of market success.

4. Nelisiwe Masango 

Besides being known as a successful female, young forex millionaire, Nelisiwe Masango is also known as an award-winning entrepreneur and wealth coach. She is also the founder and director of a forex trading company called Bear Run Investments.

When she was young, Nelisiwe Masango never planned on becoming a trader. She wanted to be a neurosurgeon in high school. Her dream changed after she developed a passion for finances and investments. She started her business with no capital and learned the value of money management and networking. By the age of 28, she has become a celebrity millionaire.

What to Learn from Nelisiwe Masango

Masango believes that psychology has a very important aspect of trading—especially their mentality toward finance. Trading psychology is crucial because it affects the decisions and behaviors of traders. A trader's mindset can significantly impact trading performance, and emotions such as fear, greed, and overconfidence can lead to irrational decision-making. By understanding and managing their trading psychology, Masango believes that traders can make more rational and disciplined decisions, leading to more consistent and profitable trading performance.

5. Dan Legg 

As a young Forex millionaire, Dan Legg's road to success wasn't all rainbows and sunshine. He lost a significant amount of money when he started trading. Legg said he decided to trade because he failed to go to the university and decided to find a way to make money. But when he lost much money, he realized that trading wasn't all that simple. For months he studied and taught himself all he could about trading from YouTube videos.

Legg taught his friends and family how to trade when he started gaining profit. He believes that teaching is the best method of study. By the age of 21 years old, Dan Legg is dubbed as a young millionaire. He founded TeamFX Trading to teach people how to minimize their trading risks.

What to Learn from Dan Legg

Dan Legg only trades with Forex. This is because he feels like he knows this asset the most. What other traders can learn from this is that it's better to trade with familiar assets instead of pushing to try different markets without adequate knowledge. Understanding the asset can help traders make more informed trading decisions. This knowledge can help you make more accurate predictions direction of the asset and potentially increase profits. In addition to that, trading with familiar assets can help you stay engaged and interested in the market. Meanwhile, trading with assets you are not familiar with means tyou are going in blindly. This can be similar to gambling.

How to Trade Successfully Like Young Forex Millionaires?

The story of those young forex traders is quite inspirational. You might wonder how they can become successful at such a young age? In reality, trading success has nothing to do with age. There are 3 important components to determine your success in trading: Mind, Money Management, and Trading Method.

Of course, the strategy also plays a big role. But no matter how good your strategy is, you will never truly be successful if you don't have those 3 factors. Here's the reason why:

1. Mind

Having the right mindset and way of thinking is very important when you start trading. Newbies always think about how much profit they will get if they follow certain trading methods, or when they will become full-time traders so they can quit their day job. These are not the right mindset to start trading with. When you think of forex trading as a money machine, it might tempt you to take shortcuts or enter the market as often as possible. In the end, it will lead you to emotional distress.

Always control your emotions when you enter the market. When you trade there are always risks. The bigger the risks, the greater your emotional response to the market will be. It's important to appease your mind by adjusting the risks. Reducing negative emotions will help you think rationally. That way you can make better judgment and strategy.

2. Money Management

Money management is very important for traders. It helps you determine the risk factors so you can control your mind and emotion better. When you clearly understand the risk, you can correctly adjust each trade according to the risk and proportional amount of money. The risk and reward ratio is also an important factor in money management.

3. Trading Method

In short, the trading method is a way we predict the possible direction of the price movements, probable stop loss, profit targets, and many more. A simple and clear trading method is always better than applying too many technical indicators that might cause misinterpretations. This factor is important to acquire early on since this will help you face the challenge in a real-time market.

Besides those three components, it's also important to review your trades. Usually, forex traders will conduct a trade review annually. The market tends to move sideways by the end of the year, so most traders use this time to review their accounts. Although it might seem trivial, it can be a powerful indicator to mark your milestones in the forex market.

You can review your account by asking these questions:

1. What percentage of profits were earned during this year?
2. How much is the average profit per month?
3. How many winning and losing positions during this year?
4. Or how many times has the account been hit by Margin Call (MC)?

Reviewing your past trading performance can better understand your trading activities throughout the year. That way, you can find the root of your trading mistakes and fix them before entering the market again.

The story of 7 young Forex millionaires above is certainly remarkable. Despite the setbacks they experienced, they managed to beat the obstacles and earned their first million through forex trading. Is it possible to trade successfully like them? The answer is yes, only if you have the right mindset, carefully planned money management, and the right trading method. Also, don't forget to evaluate your trades periodically.

Have you ever wondered what makes these traders different than the rest? Successful traders tend to think differently than the rest. Their different way of thinking can be learned here.