To many people Forex trading is some sort of gambling, with a lot more others in the dark about what it really is. While many have and keep making fortunes out of it, several others also make loses. In this interview with Oloruntoba Oluwole Tokunbo, popularly known as Mr. Forex due to his expertise and success in the field of Forex, the Forex trading wiz elucidates on the trade, how he stumbled on it and how it changed his life, as well as reasons for failure of some and other sundry issues.
Give a brief introduction of yourself, family and educational background?
My names are Oloruntoba Oluwole Tokunbo, I hail from Kwara state, Isin LGA. I am the last born of a family of 4.
I’m a graduate of Educational Management from University of Ilorin, 2009 set. I actually had all my education in Ilorin metropolis.
How did you come about forex trading? Is it what you intended doing growing up or you came into it by accident?
My forex journey started out of curiosity to live my dream, impact people and the fear of being average. In a bid to have all these I tried a lot but didn’t find fulfilment in all until I found forex. I did several networking businesses, I worked with several companies in Lagos but I knew deep within that there was something more than all I was doing at that time. So I kept of putting my hands to so many things (anything legit) until I met a woman by the name Bukky Osinowo inecember 2019 and that was it .
Bukky Osinowo is a forex trader per excellence, coach, mentor, IML/ profit arcade instructor, IML chairman 10(a rank in markets live mastery academy). As at the time I met her she was already living in my dream, a perfect picture of the kind of life I desire so that was how I got stuck and the journey started and has not ended.
When I was growing up I never knew about forex but I knew I wanted something beyond the ordinary, something that would stand me out of the crowd. I tried music but the dream fizzled out when there was no support coming from anywhere, when I started forex I got a lot of discouragement especially from the closest people to me but I was so adamant to seeing it through and now I am here today.
A lot of people believe forex is like gambling, will you say this is true of forex?
You know if you don’t have a key to a door, you would have to exact force and yet the door won’t open but when you have a key, within few seconds you gain your entrance. Well to those that don’t know what forex entails or what needs to be done it’s a gamble or let me say to them it’s a game of luck but if you can produce the same result consistently over a period of time then that is no longer a game of luck/gamble. To me forex is another career just as medicine, engineering etc and if I have my way forex should be taught in our schools as part of global economics. Most people trivialize forex and see it as just an online thing and that’s why they fail, I used to tell my students “until you take this forex as a career you might not make 1 USD from it.
How compulsory is it for people to get trained before trading in forex?
It is very compulsory for people to undergo a properly structured training before committing their hard earned money to trading. Let’s come to think of this critically, who can practice as a medical doctor without passing through the university, the medical school, housemanship etc? You can now see why I call it a career, you can decide not to take a proper training and download the trading app , I am not a prophet of doom but I can tell you boldly that you will donate that money into the market and there is this saying that undisciplined traders pay the disciplined traders.
From your experience, why do you think people lose money in forex?
I will give 5 reasons here although not limited to these 5 because there could be so many reasons necessitating to losses.
a. Lack of proper training
b. Lack of discipline
d. Lack of a well-structured trading plane
e. Lack of a good mentor
Can forex be taken as a full time job?
Like I said forex is a career and that is what I do today as a full time job. In fact I have too many people around me that do forex for a living both in Nigeria and abroad. If I begin to name names the list is endless. There are so many successful forex traders in our society.
What are the warnings traders must heed to be successful traders?
To be a successful trader and last in this business you must be extremely disciplined and this is very hard in forex. Just imagine a market worth 7.7 trillion US dollars on a daily basis, very tempting but when you are disciplined as a trader you know when to dot your i’s and when to strike your t’
Your future goal as regards forex?
To see many more people win with forex, to see many families financially free, live on their own terms. I have seen many lives change under my guidance in forex but I want to see many more because the opportunities that abound in forex are grossly under-tapped especially in Nigeria. South Africans are doing very well in Forex. I hope to see more lives changed across the world because I have mentees, clients and followers across the world.
Your advice for Nigerian youths?
Forex is an instrument of financial liberation if it is well utilized. Shift focus from the government because it is obvious they cannot birth the desired change. Acquire forex skill-set today because lives are changing every day.
How do you think the Nigerian economy can get better?
Nigerian economy can be better if more focus is on entrepreneurship.
Nice talking to you
Mr Wole Forex Master can be contacted via: Telegram channel for free trade signal @softworkFX
IG page @MrWolzzz_FX
You may also call or Whatsapp 08171961846 for more enquiries on how to get started with forex.