Forex traders have been talking about getting into the industry for years now, with many saying that the process of acquiring a trading licence is worth the effort.
In the latest episode of the Forex Forecast podcast, one of the show’s hosts, Matt O’Connell, is joined by one of Australia’s leading forex traders, Ben Mackey.
In this week’s episode, Ben discusses: the benefits of trading, his experience trading in the US and US-based forex, trading in Australia, how he went from trading in US-centric forex to trading in Australian-centric, and how he is using his trading skills to invest in US and Australian businesses.
Ben also tells us a few stories of his own about trading, including how he got into the business, how long it took him to get into the trading business, the benefits and pitfalls of trading for a stockbroker, how it changed his life, and why he is working to open a forex factory in Australia.
Forex Forecaster: Ben Mackeys journey to the trading industryIn the latest Forex Show podcast, Ben talks about trading in both the US, where he is currently trading, and Australia, where the podcast was filmed.
He shares his journey to becoming a forecaster and shares his personal insights into the world of forex trading.
Ben talks about his experience with trading in different industries in the United States, his trading experiences in the financial industry, the pros and cons of trading and how to choose the right business to work for.
Ben says that he is “very passionate” about the trading world and has worked in the industry “from a very early age”.
Ben says he was initially motivated by the chance to make money.
“When I was a teenager, I was working in the oil and gas industry in the mid-1980s, which was a very lucrative industry for me and my family.
It was very good pay and I was making a lot of money.”
But I wasn’t thinking about what I was doing at the time.
I was thinking about it as an investment.
That was the motivation for me, and I just wanted to make sure I could make the most money I could, so I started doing it.
“When I got out of the oil industry, I went into the financial world, where I was in charge of trading in Sydney and Melbourne, and that was my first exposure to the stock market, and it was a great way to make a lot more money, because it was on a huge market.”
Then I got into trading, because I had a lot to lose in the stockmarket.
But when I got to trading, I realised that there was something I was missing.
“Ben’s trading career started in 1987 when he started trading on the Australian Stock Exchange (ASX), and his first trading job was at the ASX’s Melbourne office, where, he says, he was offered a position on the ASIC’s Sydney office.
“My parents were from the US [in California] and my dad was from Texas, so they thought I was going to be an illegal immigrant, and they wanted to put me in a position where I could actually make money out of my dad’s job, so that was the main reason I left the US.””
I was terrified,” he says.
“My parents were from the US [in California] and my dad was from Texas, so they thought I was going to be an illegal immigrant, and they wanted to put me in a position where I could actually make money out of my dad’s job, so that was the main reason I left the US.”
Ben moved to the UK in 1995, where his trading experience was more extensive.
“The main reason that I came to the States is that I found out that I was getting a job with the US government, which at the moment was in the mortgage market, so my job was to look at mortgages in New York and London,” he recalls.
Ben was offered an opportunity to work in the ASI’s New York office in 1996.
“There was no opportunity there,” Ben says.
Ben’s first experience with forex came when he was working on a foreX investment fund in the late 90s.
He recalls working on the New York forex desk, where many of the traders were based, and when he asked a colleague to join the team, he recalls that the colleague turned him down.
“I asked him if he was OK and he said, ‘No, I don’t want to do it.
I think I’m a little too old for it.
If you guys are ready to get on board, go ahead’,” Ben recalls.
“It wasn’t until 2005 that I got on board.
It’s when I was 20 years old and it’s been quite a journey.”
Ben says the experience was an important one in terms of his development as a trader.
“At that time, you were a lot older than a lot other people were, so the experience of working in that environment and having the responsibility of being able to make decisions