Question: How did you venture into Forex Trading?
At the age of 18, when I was a college fresher, I saw a Broker’s advertisement on Facebook saying “Invest 100$ and grow your account to 500$ in a month”. Trust me, I couldn’t sleep that night, imagining all sorts of things I could have done by multiplying my money 5-fold.
The very next morning, I took my Dad’s Credit Card without his knowledge, swiped it for 100$, took my first trade and within seconds, poof..the money was gone and the rest is history.
Question: Why didn’t you give up on Forex Trading despite of having lost your very first trade? What kept you going?
It may sound filmy. I was madly in love with a girl, who hailed from a rich family. I had no other option but to become successful to rightfully be able to marry her. This kept me on my toes always. I was driven with determination, goals to achieve and was always back by my love. Along with all the name and fame, having her as my wife is my biggest achievement.
Question: I see that you’ve been into forex trading for almost a decade now, apart from your blissful life, what are your biggest achievements?
Siby: I have been a successful fund manager for private investors with over 6 million dollars of funds. I was recognized an awarded as “Top Asian Forex Trader” in 2019. I’ve written 5 books on Forex Trading – some high-quality content (that can be downloaded for free from my website – www.sibyvarghese.com). I have mentored over 800 people and helped them venture successfully into Forex Trading and attain better financial futures.
Question: What is your advice to beginners?
First and the Foremost thing that they should keep in mind is that this is not a get rich overnight scheme. Just like each profession, Trading also needs 2 years theoretical education and at least 3 years of hands-on experience to venture into the market as a full-fledged Forex Trader. All-in-all, it takes time to become a successful trader. The earlier you start, the better it is for you.
Second, Risk-Management is very important. Generally, people overlook the disclaimers and warnings mentioned on the Broker’s websites about Risk that one should never invest what they cannot afford to lose. Proper risk management should be incorporated and the Risk to reward ratio must be kept in mind before deciding upon any trading setup.
Third, to learn from the mistake of others. For that you need the correct guidance from a knowledgeable mentor. If you fall into the wrong hands, you will never become a profitable trader. The Tip here is to find the right mentor. I am not saying that you should choose me as your mentor, but you must be very careful in choosing your mentor.
Question: How can you be contacted by aspiring traders and investors?
They can reach out to me via e-mail (firstname.lastname@example.org ) and the rest of the channels like Telegram , Facebook or WhatsApp, you can find on my website www.sibyvarghese.com. I am approachable through all these mediums, provided you’re open-minded and coachable.
The Millionaire Mindset!