From $100 in the Bank to Being Known as One of the Most Successful Forex Traders: Here's the Story of Tyler Espitia
Monday, November 25, 2019 2:25 PM
SEATTLE, WA / ACCESSWIRE / November 25, 2019 / Tyler Espitia is one known for being one of Houston's top forex mentors & traders. He has helped thousands of regular people working a 9-5 become highly profitable forex traders in only 2 years of mentoring. Tyler has already helped hundreds of his students quit their jobs, drop out of college and change their lifestyle for the better with his exclusive trading course & alert program.
In this article, we ask the trader and mentor Tyler Espitia who has been featured on multiple other platforms what it's like making it in the forex industry & how he manages his lifestyle.
The come up?
When I was around 18 years old I moved to Los Angeles with only $100, the rest of my money was tied up in stocks and investments, so I had to do whatever I did to come up.
When I first arrived in LA, I went to the police station seeking help because I didn't want to sleep outside, so I ran into this guy who overheard me asking for help, and he told me he was a manager of a sober living house and rent was about $500. I told him I only had $100, so he told me to get a link card and cash from the government at the social security office. So I did that to pay rent for a bit, while I built some of my businesses and worked on investments.
It wasn't easy in the beginning; I had left my family and friends behind and moved to a big city when I came from a town with only about 13,000 people!
It was stressful because I had nobody to talk to when I was feeling lonely.
It got to the point where I'd come up then come back down with money, and I'd have to steal to eat or finesse women into buying me food by making them think I liked them.
That's how I survived for 3-5 months actually by finding women who could pay for me because I couldn't pay for myself in exchange for my presence and whatnot.
It was pretty transactional.
I had finally started making enough money from trading and other businesses to where I could live alone and do my stuff.
I also had to deal with loneliness because I had to cut out anyone that wasn't giving me positive energy or trying to level up. I couldn't be around people who were comfortable being average.
There were so many times I wanted to give up and go back to live with my parents, but I kept pushing through even when the odds were against me.
What are some struggles you deal with as a millionaire?
Discipline, it's so easy to go to the dealership and buy cars out of boredom, spend thousands of dollars on food, jewelry, etc.
Discipline has to be one of the hardest ones, just because you have millions doesn't mean you go and spend it on stupid stuff, I invest my money first. ALWAYS.
I would say for anyone who's a millionaire at a young age struggles with discipline, and anyone who's expecting to be a millionaire at a young age has to have a significant financial plan.
You learn a lot as you go, I had my days of buying designer jewelry, blowing cash on women, it's honestly not worth it at all.
Another big thing I did when I was coming up was surround myself with millionaires; I used to go to the trump tower in Chicago and hang out by the bar and restaurant and chat with the older rich people about investments, strategy, and life.
It was the most important because they motivated me and gave me advice I will carry for a lifetime.
How do you manage to be a multimillionaire?
A SOLID FINANCIAL PLAN IS KEY!!
I'm always putting more money into investments, either be conservative or aggressive and still teaching myself new ways to increase my income so I can have more of my money invested.
Keeping track of my expenses is essential as well; that's where my financial planner comes in handy.
Pretty much any of my big purchases, I have to get approved by her; otherwise, I'd be spending left and right.
Living beneath your means too is another one, my house isn't too big and my cars aren't too expensive, I feel as if I'm living lower than what I already am to be honest because if I really wanted to pop out I could, but I'm only 22, and I'm looking at this long term.
I'm not trying to be a millionaire for a few years then lose it all; I got a family to feed.
DEDUCTIONS!!! They're super important; everything I do, I try to keep it in rules with Uncle Sam.
In my first year in business, I deducted NOTHING and owed so much in taxes.
What are some tips you would give someone looking to start in your niche?
Don't be afraid to take risks, stock and forex trading isn't for those afraid to lose or those afraid to take risks.
Start small, gain knowledge, take losses, learn from them, and then look at this long term and not so much for the short term gratification because the ones who are looking at this short term are the ones who never make it.
Name: Tyler Espitia
Email: [email protected]
Company Name: Ichimoku Traders Academy
SOURCE: Tyler Espitia