That’s why I opted to go into trading, starting out in prop trading.ĭNS: How long was it before you decided to strike it out on your own as an independent trader? What prompted the decision?Īs a prop trader, I was in a firm for a couple of years. I didn’t want to climb up the wrong corporate ladder. I did not want to be trapped in a working environment that I didn’t like just because my skills were not translatable. A skill that could help put food on the table for me and my family. One thing that struck me was that I needed a skill. I wanted the freedom to do the things that I love today. People work half their lives and retire at 65. Needless to say, I did not want to pursue a career in the corporate world. From this book, I learned that there is more to life than just working for somebody, and more to life than just being mediocre. For two years, we were constantly reminded that nothing is impossible, and that many times, the difference between achieving and not achieving something simply depended on just how much we wanted it.ĭuring my time in the army, I also read a book called Secret Of Self-Made Millionaire by Adam Khoo. I went from being mediocre all my life to being placed in an elite fighting unit. Why did you not pursue a career in the corporate world as what most of your peers did?ĭuring national service, I was enlisted into 1 st Commando battalion. Read Also: Forex Trading 101: What You Need To Know Before You Start Trading ForexĭNS: You graduated with first class honours and was valedictorian so you obviously did well in school. I took part in the competition and in a matter of days, blew up my account and got kicked out of the competition. I told myself that trading was just an accelerated version of investing – how difficult could it be.
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Back then, I was clueless about trading and the only idea I had about the financial market was knowing how to read financial reports and calculating financial ratios. It started when a broker came down to my university to organise a forex competition. Since I work from home, I also get to spend time with my wife and child if they are at home. I also spend some time each day penning down my thoughts for my website TradingwithRayner. After which, I will monitor my trade positions every few hours to make sure it is doing okay, and that any risk that I face is well contained. Rayner Teo (RT): A typical day for me is to scan the market each morning to look out for my trading setup. Can you share with us how a typical day looks like for you? He graduated from the University of London (UOL) with First Class Honours in Banking & Finance and was also the valedictorian of his graduating cohort in 2012.ĭollarsAndSense (DNS): Many people are fascinated on what it’s like to be a trader. Rayner has been trading since his university days. He is also the most followed trader in Singapore, with more than 75,000 traders reading his blog each month. Rayner is an independent trader, ex-prop trader and founder of the blog TradingwithRayner. In order to understand the journey of what it takes to become a successful trader, DollarsAndSense.sg spoke to Rayner Teo. This makes it both lucrative and potentially dicey at the same time, especially if a trader is not able to manage his risk. Leverage is a double-edged sword: it can be used to significantly increase returns on good trades or it could potentially translate into much larger losses on bad trades.Īs trading is generally considered riskier, and requires more time and skills, returns for successful traders also tend to be higher. Most traders will also leverage their positions to increase their trading size, and hence exposure. While investors aim to profit by investing in assets that either increase in value over time or pay out regular dividends, distributions or interest, traders typically aim to profit by taking advantage of short-term price volatility in the assets they actively trade. Trading and investing are two different ways to make money from the financial markets. All views expressed in the article are the independent opinion of DollarsAndSense.sg This article was written in partnership with IG , the world’s No.1 CFD provider (by revenue excluding FX, February 2018).