69: FX Market – Profit From the 5 Trillion Dollar Daily Trading Volume

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Business, Investing

4.8 • 518 Ratings

🗓️ 31 August 2017

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Brian Jimerson and Teng Su are the founders of The Art of FX, a Fund Management and Trading company that specializes in the Forex and Commodity markets.

During the show, Brian and Teng will discuss how geo political events affect the FX market, what it takes to become a full-time trader, and the biggest mistakes to avoid. Listen to the end to hear how they manage multiple accounts and the earnings percentage Sam and Johnny FD have earned since their investment.

Links:

Apply for an Account with ArtofFX ($10,000+ minimums)

Where are we:

Sam/Brian/Teng - Bangkok
Johnny FD - Odessa, Ukraine

Discussed:

ILAB 03 – Foreign Exchange Trading with Brian from Art of FX
ILAB 64 – Trading Options Full Time: $0 – $100K Annually with Kirk Du Plessis

Books:

Start Here – Recommended Reading

Time Stamps:

07:31 - North Korean missiles over Japan
08:36 - How Trumps Twitter affects the FX market
13:15 - Stock market vs For Ex market
16:16 - Trading Forex full time
21:17 - Biggest trader mistakes
29:47 - Emergency crash plan
31:40 - A typical 21 hour work day
34:20 - Gaining informational advantage
38:57 - Common trader mistakes
41:26 - Cryptocurrency buying, selling, and trading
44:48 - Tax implications
46:33 - Starting capital and hold time
47:09 - General Volatility
51:57 - Managing multiple clients and accounts
1:06:18 - Total earnings %

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Transcript

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0:00.0	Hey bosses, this week's sponsor is FreshBooks, the easy to use cloud accounting software.
0:05.5	FreshBooks is offering a 30-day unrestricted free trial to our listeners. To claim it, just go to
0:10.0	freshbooks.com slash invest and enter Invest Like a Boss in the How Did You Hear About Us section?
0:15.8	Welcome to the Invest Like a Boss podcast. I'm Sam Marks and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss.
0:24.2	Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash.
0:33.0	Hey guys, it's Johnny and welcome to episode 69 of the the Best Lega Boss podcast. Here's Sam Marks.
0:38.3	Hey, Johnny. Hey, guys. Hey, back-to-back episodes in Bangkok. Who else better than the art of FX boys, Brian and Tang? Yeah, I'm really glad you had them on because last week, it was a great episode. Glad you guys had fun in the limo. but I kept thinking, man, these guys are in the limo.
0:55.4	Get them to, I want to update.
0:57.0	I want to hear what's going on with them. Yeah, they were surprisingly quiet, being good students in the back, taking something and, you know, taking it all in from the episode on Municipal Bonds with Michael Foster. But, yeah, of course, always would like to hear more from them.
1:12.7	They're great guys, super smart.
1:14.3	And I would say one of the founding reasons that we started the podcast.
1:20.4	Yeah, if anything, that's actually a good play on their part where they can make a bunch of money while they're young with Forex.
1:26.3	And then when they get when they get older and
1:28.4	they want something more stable they can get too many bonds. Yeah, absolutely. And that's, I know
1:32.2	that's part of the strategy from talking to Brian over the last week. And, you know, they're
1:36.9	forex trading, it's no joke. Like the amount of time and hours that they're putting into this
1:41.9	stuff, not every week, just every single
1:44.7	day they're going to work. It's insane. We know Brian, he sleeps like three, four, five hours
1:50.6	a day. He's one of those weird people that can operate on four hours of sleep day and day out
1:55.5	with a heavy workload. So more power to them. They're going after it now. They're trying to put
1:59.6	themselves ahead. And yeah, they can get into the boring stuff later.
2:03.0	Well, the last time we had him on was episode three, which was a long time ago.
	...

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