Victor Emmanuel Matsiko, 22 years who was born and raised in Kayunga Bugerere left Uganda for South Africa in 2014 like many in search for greener pastures as the saying goes.
He was just another young boy trying to survive and looking to find his feet in a humble South African neighborhood.
“I had gone over there to study but I had my heart set for business though. I started by moving from household to household selling clothes. It gave me an idea of what is needed to run a business. I took a big gamble investing money that was supposed to offset some of my academic bills on a trade whose success was not exactly set in stone,” he shares.
Matsiko explains that at 18 years, he learned about forex trading from random information resources and it sounded like his kind of thing.
I put all tuition into forex trading and took a break from school to focus entirely on my new venture. This happened in my third year and interestingly my parents had no idea. Before you know it I was earning about 300dollars a day. I bought my 1st car in the 1st year and from there I couldn’t turn back,” he says.
The problems with this kind of money at such a young age are too many ideas and this was not any different with this go getter as he chose to drop out of school and concentrate on Forex trading, a thing he described as a ‘reckless dive’ but it eventually paid off for him as he became a millionaire just a year from when he started.
“Foreign exchange can be explained as a network of buyers and sellers, who transfer currency between each other at an agreed price. It is the means by which individuals, companies and central banks convert one currency into another, if you have ever travelled abroad, then it is likely you have made a forex transaction. There are a variety of different ways that you can trade forex, but they all work the same way: by simultaneously buying one currency while selling another,” he explains.
According to Matsiko, risk management is the key element of Forex trading and it is better to understand this simple fact rather sooner than later and put a lot of effort into mastering the science.
He says that the risk that exists for Forex traders is simple to understand: it’s the ever-present risk of a bad trade that is closed with a loss.
After some time, reality rolled in for Matsiko. He came in terms with himself and realized that he needed a career and he decided to pursue a course in aviation.
“I joined Aviation because it was my dream ever since I was young so when I saw that I can afford it then I dropped out of university for aviation school and I’ve been studying just to complete my dream.