An Honours student in Law and Education from UJ has made Forex trading a success for himself and mentors others in a self-made institute where he claims that amateur traders can make up to R30000 monthly trading in the foreign exchange market.
Avumile Mjacu (24), CEO of Vumile investment/institute spoke at a Forex seminar held at the University of Johannesburg Soweto Campus on Saturday. “We at VMJ institute do not teach students the definition of Forex but rather the strategy on how to trade”, he said. Mjacu has written two books, one titled Vumile Investments Forex book and the other titled The Dokima of Psychology in Forex trading. He said he was mentored by Professor Brown, an economics lecturer at UJ. “One of the books which I’ve written specifically targets the strategy on how you can start from $50(USD) account which is roughly R400 and push it up to R10000 within a week.” Mjacu also continued to say that, “there are a hundred million ways to trade but only one way to succeed – Money Management. He emphasized that being able to handle a huge sum of money psychologically is important because with joy comes greed and if traders leave money to gain more interest in the market for longer than it should then the market could turn against traders.