Expert Forex Trader Reveals #5 Habits For Boosting Income in Your 20s | Alex Gonzalez (E053)

Added: Jul 29, 2024

Trading Journey

Gonzalez spent the first two years learning about Forex trading without making any money. He dedicated 14 hours a day to studying charts and patterns. During this time, he lived with his parents and woke up early to show his dedication. His Cuban father, who had a strong work ethic, was initially skeptical of Gonzalez's pursuit. After two years of consistent losses, Gonzalez started to break even and eventually became profitable. He credits his success to learning from mistakes and developing a disciplined approach to trading.

Success and Lifestyle

Gonzalez's first significant payout came from a funded trading account, where he made $28,000. This allowed him to leave his job at Dunkin' Donuts and focus entirely on trading. He now takes only one or two trades per week, risking between $50,000 to $70,000 per position. His success has allowed him to live a luxurious lifestyle, traveling the world and staying in high-end accommodations. However, he admits that he sometimes loses touch with the value of money, spending large amounts on travel and experiences without much consideration.

Business Ventures

Leveraging his trading success, Gonzalez has ventured into several businesses. He created a prop firm similar to the one that helped him succeed in trading. This company offers funded accounts to traders who pass an evaluation process. He also started an educational company called Swing Trading Lab, which teaches people how to trade. Additionally, he is working on launching a cigar brand and a sports betting platform called Fan Funded. He employs around 300 people across his various ventures.

Marketing and Social Media

Gonzalez has built a significant following on social media, particularly Instagram and YouTube. He initially started posting to attract girls and showcase his lifestyle but eventually began sharing trading content. He emphasizes the importance of authenticity in his content and regularly hosts free meet-and-greets around the world to connect with his audience. He believes this approach sets him apart from other trading influencers who may not be as accessible or genuine.

Personal Life and Relationships

At 23 years old, Gonzalez is focused on his career and personal growth. He recently ended a two-year relationship and is currently enjoying his freedom. He discusses the challenges of dating as a successful young entrepreneur, particularly in Miami where he feels many women have unrealistic expectations. He expresses interest in exploring different cultures and meeting women from various backgrounds as he travels.

Future Plans and Aspirations

Gonzalez is constantly looking for new opportunities and ways to challenge himself. He plans to attempt turning $100 into $1 million through trading, a feat he nearly accomplished previously. If successful, he intends to reward himself with a Bugatti. He's also considering purchasing a private jet, partly for the tax benefits. He expresses a desire to continue pushing boundaries and creating memorable experiences, such as his infamous Super Bowl streaking incident.

Super Bowl Streaking Incident

One of Gonzalez's most notable public stunts was streaking at the Super Bowl. Initially motivated by a potential betting opportunity, he followed through with the plan even after learning the bet didn't exist. He spent $50,000 on tickets, studied security patterns, and successfully ran onto the field during the game. The incident led to his arrest and significant media attention, generating millions of views online. He plans to attempt similar stunts in the future, including at another Super Bowl and potentially the World Cup.

Trading Philosophy and Advice

Gonzalez emphasizes the importance of psychology in trading success. He believes that while learning charts and patterns is relatively straightforward, managing emotions and following a disciplined plan is the real challenge. He advises aspiring traders to develop a stoic mindset, practice patience, and master risk management. He also stresses the importance of being selective with trades and not feeling pressured to trade every day.

Views on the Trading Industry

Gonzalez is critical of certain aspects of the Forex trading industry, particularly the low barrier to entry which he believes attracts low-quality individuals and scams. He distinguishes himself by showing his trading history and being transparent about his successes and failures. He also discusses the differences between Forex and stock trading, noting that the higher entry barrier for stocks tends to attract a different caliber of trader.

Cryptocurrency and Investments

While Gonzalez is primarily focused on Forex trading, he does have some investments in cryptocurrency, specifically Bitcoin and Ethereum. However, he admits to not being as knowledgeable about crypto as he is about Forex. He is skeptical of meme coins and the volatility in the crypto market. Regarding traditional investments, he mentions owning two real estate properties but prefers to keep most of his capital in trading, where he can generate higher returns.

Philanthropy and Giving Back

As his wealth has grown, Gonzalez has become more focused on giving back. He shares experiences of helping communities in different countries, such as distributing chickens in Africa. These experiences have reinforced his desire to remain humble and use his success to positively impact others' lives.

Reflections on Success and Future Goals

Despite his achievements, Gonzalez feels he's only at the beginning of his journey. He continually sets new goals for himself and his businesses. He expresses a desire to exit some of his companies in the future and potentially shift his focus more towards entrepreneurship rather than trading. He's also interested in exploring new technologies and platforms, wondering what might be the next big thing after the current social media landscape.

Challenges of Success

Gonzalez discusses the challenges that come with rapid success at a young age. He mentions the difficulty of finding genuine relationships and the importance of surrounding himself with like-minded, successful individuals. He also talks about the pressure to maintain his reputation and the responsibility he feels towards his community of followers.

Thoughts on Work-Life Balance

While Gonzalez is currently focused on his career, he acknowledges the importance of eventually finding a balance. He discusses the potential of settling down in the future but emphasizes his current desire to make the most of his youth and success. He believes in living without regrets and seizing opportunities while he's young and financially able.