Teenager turns £ 200 into £ 200,000 after learning to trade stocks via YouTube videos
A teenager turned Â£ 200 into over Â£ 200,000 after learning how to trade stocks through YouTube.
Adam Mlamali, 19, has always had an economy mind after starting an online jewelry business while pursuing his baccalaureate studies, and has since worked in London as an apprentice in finance.
He used his free time to learn how to break down the stock market, understand trading tactics, and analyze the stock market by watching YouTube videos.
“What drove me to the markets was hearing that while I wouldn’t if it weren’t for the financial gain, it’s more about being able to invest in causes that you like “, he said to the Mirror.
âThe idea is that money is power, but money is power because you can lead causes that you want to see carried out.
âFor me, I was very interested in space very early on, only because I wanted to be an astronaut when I was younger. I was an early investor in Virgin Galactic, and Virgin Galactic was probably my stock. top performer. I did over 100% at the end. “
After a year, Adam turned his initial investment of Â£ 200 into over Â£ 200,000. He believes he could turn his shares into a Â£ 1million portfolio over the next 10 years if he can repeat his current success.
When the coronavirus pandemic hit he said he ‘staked it all’ and started investing heavily in stocks with newfound confidence, returning with his mother and brother to free up more money for investment. .
The teenager says a few years ago his mom got into credit card debt just to help the family get through Christmas, and he’s determined to help her show appreciation for all she has. made.
Despite the huge comeback, Adam has no plans to withdraw his money just yet. Instead, he has his eyes set on the future and hopes to start his own businesses and buy property.
âAt first I surprised myself even with how much I was willing to invest and how long he grew up,â he said.
“My mom at first was like ‘only risk what you can afford’ so I didn’t tell her how much I’m investing. A lot? ‘
âBut I guess she’s on point now, after seeing me start my businesses, she has that confidence. She never really said ‘I’m going to control your finances and watch everything you do.’
Adam invests in businesses he wants to see succeed, including clean energy companies, and tries to balance his portfolio between worthy causes and actions that will bring financial gain.
But whatever companies he invests in, he says, âI need to be interested, that’s what will make me want to do some research. If it goes down then I know why, I can see if they still have longevity or not, or if the business has fundamentally changed. “
His research goes so far as to examine what new positions a company hires for and who gets those jobs, with the goal of predicting its strategy and future releases.
And Adam says that’s a level of detail anyone looking for long-term success in stock trading will need to replicate – rather than those looking at trends online in the hopes of stumbling upon a get-rich-quick scheme. .
âInvesting in something because everyone else is doing it, it’s just a full bet,â he said.
âA lot of my friends send me messages like ‘should I buy this, should I buy this? “, and I tell them” you’re doing it completely the wrong way “.
“Know the company you are investing in and do the research before you make the investment and it will make the investment 10 times more profitable, because you know you can reapply the same kind of analysis, and you know you don’t. you weren’t leaning on someone else, that was all you.