How To Make a Novice Trader Rich
Rich is a crass word, but in the case of Biku it is applicable. Our founder first met Biku at a charity fundraiser when Biku was still working for Barclays. Biku was hosting it, and Alpesh, our founder, had been invited by one of the investors in his hedge fund. The host of the Charity fund raiser in Parliament were Barclays Bank and Baroness Verma jointly for Biku's cause which was for Northwick Park Hospital where Biku had been treated a few years earlier in his early 20s for a rare heart disease.
Alpesh made a donation and left. Biku was intrigued that someone would make a sizeable donation and just shake hands with the host and not ask for anything and leave. So Biku look Alpesh up and made contact.
They met, and Alpesh explained his hedge fund business. Biku said he had always wanted to trade but didn't know where to begin. Alpesh suggested some books. Biku found this an unsatisfactory response. And so Biku suggested Alpesh spin out the technology from his hedge fund used to place trades and the hedge fund training material for his staff and make it widely available. After all, Alpesh was charitable!
After several other meetings Biku, being at Barclays Bank, had a better idea. Why not get venture capital investment into the business and eventually float the fintech company.
But the first step would be to make the training digestible for beginners to advanced trainers. It would have to have outstanding customer service, use the latest technology to stay in touch, be better than anything else on the market (there was nothing of the credibility as Alpesh out there so this was easy), and should not charge a subscription because that would make it harder for people to get to profitability which would be needed to showcase to venture capitalists to invest in the company.
So Alpesh got to work working with Biku with meetings to make sure the material would be understood by him (or his grandmother) and use mentoring technology platforms to training him to be a trader.
Biku had left school at 16. He did not have a finance background despite working with banking customers in Barclays. So he was a good guinea pig.
As the course and software was perfected over three years and developers in five countries (UAE, India, UK, Greece, Russia) Biku's trading went from a demo account to a sizeable trading account.
The bond formed such that Biku attended Alpesh's wedding, although by then he had left Barclays and moved to Dubai. He diversified by using trading profits for other ventures too - always a sensible move. To this day Alpesh and Biku are in weekly contact.
Biku moved from demo to eventually to this day as he is consistently profitable trading $30 per point or pip.
He started learning with no money down, as he was still in credit card debt, so used a demo account. Once he saved some risk capital of $1,000, he opened an account with a broker which allowed him to do tiny trades.
Biku came up with the name Pips Predator for the software. He at first started having fixed stop losses, but quickly moved to adding to winning positions and trailing stops as taught by Alpesh for more advanced traders.
Today Biku invests in other business and real estate aside from continuing to trade.