It’s seldom that people seek advice from a 23-year-old, let alone about financial matters. But Lancashire lad Michael Bamber is an exception to the rule. He’s bombarded with questions about how one can build a good foundation to be successful yet grounded in the Forex space on a daily basis.
Bamber was just nineteen when he started trading Forex and is not shy to share the ups and downs of a teenage Forex trader documented on his YouTube channel. His 76.6k subscribers vary from 18 year-olds all the way up to traders in their 60s from all walks of life, a testament to how valuable his Forex knowledge is. He candidly admits that the market humbles you throughout your journey and insists that those trading should not let fluctuations of wins or losses affect them too much.
“I never blew an account but was taught good risk management early doors,” says the director of Kaiza Capital who wanted to get into business even at a young age. Trading was the first thing that caught his eye. That was the year 2016.
Even in just a span of five years in the game, he says the entire landscape of Forex trading has changed. Back then, he recalls that it wasn’t something that was much talked about but now a lot of people either know of it or have tried their hand at it.
What has guided the 23-year-old YouTube sensation is always trading safely. And yet that shouldn’t stop anyone from trading, he says. “Wealth is built on the back end of recessions. Keeping a strong mindset throughout is key,” adds Bamber. “Because short term thinking equals failure unless you snap out of that thinking. Rome wasn’t built in a day. The same way, trading isn’t mastered in a day either, it takes years,” he adds.
Bamber feels that since there is a lot of misinformation in the trading system, people must get access to the right kind of education when they’re first starting out.
“Having a good broker is crucial in my opinion, especially when it comes to trading larger capital in the future. Reputation and reliability are everything. I’ve spoken to some of the people working behind the scenes for Blueberry and they were genuine, transparent and honest; and that’s what attracted me to them in the first place,” says Bamber.
In the past, Bamber only traded with brokers from his own country, but now is widening out to Australia as there are quality brokers placed across the globe. Customer care, too, he says in this business of forex is highly underrated. “Blueberry is the best I’ve come across without a shadow of a doubt,” he says.
And if you’re just starting out as a new trader, Bamber says it is of utmost importance to get into a good course or community and begin to learn. A person must learn risk management along with other foundational skills. From there on out, develop a style over time since everyone has a different journey, there isn’t one tailored answer per se for those starting out.
Going forward, too, his strategy will be to capitalise on the younger generation getting into trading and winning them over via social media. And it doesn’t seem tricky at all since Bamber already gets traction from a number of regions across the globe including the US, UK, Somalia, South Africa, Australia and Canada.