This article was released back in 2016 when Infinite Prosperity was grasping at market strategies and they thought this sneaky play would work. The article has well and truly now been removed from their website (mostly likely due to the legal issues of deceit). We provide the article below for your reference. For any true trader this is very cringe worthy, but have a read for comedy sake.
How I quit my job in 159 days
A part of our forex training process is ensuring all students have a realistic expectation of results, in terms of how much can be made, how long until they’ll reach certain goals, how much time they’ll need to commit to learning etc. By making these things crystal clear, it massively reduces “failed expectation drop-off”, which is rampant in this industry.
If a new trader truly expects to turn a $1,000 account into a $50,000 per year income stream in a few short months, they WILL give up – unless that expectation is adjusted. This is why we set ultra conservative targets for our students to reach early on.
Despite our attempts to keep expectations tight, every so often a student will come along and completely blow these figures out of the water, massively disrupting the entire community with insane results. Over the last few months, one of those students has been Benny Lane.
I met Benny in January 2015, shortly after he started dating my good friend Sammy. He took a lot of interest in what I did, and immediately became an Infinite Prosperity student. Within days of joining, he had finished the course, bought the entire Active Trader series and applied to become a Platinum student. This is when I first started to suspect an extra-ordinary level of commitment.
Months went by, and I personally witnessed Benny dominate his live account, without a single losing month (even up until the time of this writing). A few seriously large Hyper Trades caused his account to surge far beyond the targets we had set together. With an “early retirement” set for January 2016, he continued pulling out insane percentage returns – and a last minute capital injection meant he had both the capital base, and the returns to comfortably live off pure trading profits.
So in mid September, exactly 159 days after placing his first live trade, he quit his job to become a full time trader. Now he and Sammy have bought one-way tickets to Thailand, to live the FX traders dream.
Before they take off next week, I thought i’d get him over one last time to run an interview for you guys! Enjoy 🙂
Quick Stats:
Name: Ben Lane
Age: 25
City/Country: Brisbane, Australia
IP student since: January 2015
Swing trader or day trader? Day trader
Favourite strategy:Â Strategy 5 – Hyper Trades
Favourite indicator: 50 EMA’s
Favourite candlestick pattern: Low / High test
2015 running profit (Mar 29 thru Sep 19): 85.22%
When did you first join Infinite Prosperity?Â
Benny: I joined in January – after meeting Lewis through my girlfriend. It only took one conversation with him and I was hooked!
Did you have any prior trading experience? Â
Benny: None at all, I had no idea what forex was.
What is your current employment status?Â
Benny: Full time day trader.
During the beginning, how much time did you dedicate to learning?
Benny:Â 3-4 hours per night.
The most common questions we get with stories like yours is, “How much money did he start with?”… You’re one of the most open people i’ve met regarding dollar figures – so can you share some details with us?
Benny: Haha sure… My first deposit was $5,000 AUD. After just 3-5 trades which were all profitable, I tipped in another $5k. I stayed on this amount for a couple of months, then I increased it to roughly $30,000 from personal savings and selling my motorbike. After a few strong months of profit and an investor deposit (from my girlfriend), i’m currently trading around $75k, not including the $5k running profit from AUDUSD short.
What were your first few lives trades?
Benny: When I first started, I wasn’t 100% comfortable with leaving trades running over night… so I started with pure Power Moves. My first 5 trades were all profitable, which really boosted my confidence early. After that I started taking on Hyper Trades.
Did you even demo trade?
Benny: Nope. I’ve always done well at what ever it is I set my mind to, and the common pattern is that I tend to dive in head first and figure it out on the way!
What kind of challenges did you initially face on your learning journey?
Benny: The biggest challenge I faced was being a contractor. I was working huge hours, mostly away from home. Always rushing to get back to our motel to catch the London session. This meant a lot of sleepless night & always feeling drained and fatigued.
On the plus side, it allowed me to raise capital quite quickly, and working all those hours was a constant reminder of how much I hated that lifestyle. There is always a positive side.
Do you have any advice for other traders struggling to find the time to learn and trade amongst work commitments?
Benny: Honestly, if you want it bad enough you’ll find the time to make it happen. We all have 24 hours in a day.
Talk us through a day in the life of Benny Lane! Â
Benny: This is a tough question, as I’m not one to just sit around. I get extremely bored haha! So it varies a lot.
I absolutely hate alarms, as I’ve always had to get up super early for work. So I take full advantage of it now. Â I just wake up when my body decides its time haha, quickly check the market for possible set ups on the daily chart. Then i’ll go get a coffee and head to the beach with my girlfriend.
In the afternoon i’ll run any errands I need to, after that i’ll go work on any new business ideas, goals or go out with some friends.
By the time the London session starts, i’ll be home and at the computer. Depending on the day, i’ll be there for between 2-5 hours. If there are no trading opportunities I’ll just be relaxing, go out for dinner or get some drinks. I love being out, enjoying life and keeping busy.
So far you’re up 85% in 6 months… To get a better idea of exactly where you’re excelling, can you give us a more specific breakdown of when and where you made those profits?
Benny: All of my profits are 100% from day trading, I actually never traded the swing trading strategies. I’m a very conservative trader! I take the Active Trader approach, and it works perfectly with my style. I was able to establish early on that trade management is KEY – and also that more trades does not equal more money.
I believe understanding these concepts very early in my trading journey was the reason I was able to excel so quickly and retire 6 months after going live.
Biggest trade to date? Â
Benny: My biggest trade so far was AUD/NZD in April for 29.2% profit. I took a long Hyper Trade off a double bottom near parity, and ran it all the way up to key resistance near 1.1200.
I was able to take it with just 41 pips at risk (1% of account as always). This was early on in my live trading, and seriously opened my eyes to the potential of Hyper Trades with advanced trade management.
I made 29.2% on the initial trade, but also scaled in with another long entry on the daily pullback. This trade made 9.5% – so the total move on AUDNZD was more like 38.7%.
Unfortunately this was when my account was still quite small, so the dollar profits weren’t all that impressive.
A few weeks back you told me you set and forget a Power Move that banked $1,400 profit while you were on a date with Sammy. That’s how it’s done! Can you walk us through the trade?Â
Benny: Haha yes, we already had planned a clichĂ© dinner & movie date. But earlier in the day, I spotted a possible entry that I knew I wouldn’t be home for if it did turn out to be a trade. As the London session commenced it was pulling back perfectly, but we had to leave to make our dinner reservation. I don’t normally like to “set and forget” Power Moves, however it had a lot of confluence and already had started decelerating into the 50EMA on the 1hr chart. I took it as a pivot entry, and the whole thing was managed by orders from start to finish. By the time I got home, it had both triggered and reached my profit target.
I made more than most people’s weekly wage, while catching dinner and a movie. As one of my first “set and forgets”, this was also another seriously eye opening trade.
I also remember receiving a text from you when you hit your first losing streak… How long did it last, and what kind of drawdown did you reach?
Benny: My first losing streak came straight off my longest winning streak, it lasted 4 trades – only about 3.5% drawdown. However, I’m a very conservative trader so this was almost a full month in draw down.
How did that make you feel?
Benny: I actually took a week off trading, not so much because of losing the trades, but I felt if I kept going I would be trading emotionally, and everyone knows this only leads to disaster.
During this week I invested a lot of time into both mindset and back testing. Something I told myself a lot was “My last business had expenses, so why wouldn’t trading?”. From this, I learnt to treat every loss as just an “Expense”.
I ended up being able to still finish the month off profitably. I truly think this was a key moment for me. Looking back, it was the best thing that happened to me. I’ve been in a fantastic mindset since!
Let’s talk a bit more about your trading style… If 0 was black and white mechanics, and 100 was pure feeling-based discretionary trading, where would you fit in? Â
Benny: 50
How many trades are you taking each month on average?Â
Benny: Usually between 4-8 trades per month. I would say 70% of them are Hyper Trades, 30% Power Moves.
Your returns are mind blowing. Has your performance attracted the attention of any serious traders or investors yet?
Benny: I currently trade my girlfriend’s capital, but I haven’t had any interest from other investors yet. It is something I’m trying to get into.
One way tickets to Thailand, flying out next week! What else is planned now?
Benny: Yep, we’re about to set off on our trip, and are planning to travel for a few years and really just live life. I don’t even know exactly what country we’ll be in 6 months from now.
I just know i’ll be working on quite a few business ideas I have, as well as trying to tick of as many things on my bucket list!
Do you have any advice for new traders struggling to make consistent profits?Â
Benny: My advice would be not to just concentrate on mastering entries, but to focus more time on “trade turn offs”. Knowing when not to take a trade can be just as profitable as knowing when to trade. Also, mastering advanced trade management has been extremely helpful to me. There is no point getting into great trades if you don’t know how to manage them! Capital preservation is key.
Most important trading advice in 5 words or less?
Benny: 80% mental, 20% skill
Is it okay if we follow up with another interview in a few months to see how you’re going?Â
Top of Form
Benny: Of course