Meet The "Trader" Who Earns $30K "On A Bad Month" Working Just One Hour A Day
On Sunday, July 12, 2015, 21-year old Elijah Oyefeso had a bad morning.
Somehow, he managed to crash his blue Bentley Continental into his metallic gold Lamborghini Gallardo.
Before:
After:
But for Oyefeso, the crash was of no consequence. "Life goes on," he said, laughing off the accident.
Why was a wreck involving nearly a half million in luxury cars no big deal for Oyefeso, you ask? Because this college dropout makes between £70,000 £80,000 on a "good month" trading stocks just one hour a day - or so he claims. According to the Daily Mail, Oyefeso "started by using his student loan" which he apparently pyramided into a small fortune. His Instagram profile reads: "MY NAME IS ELIJAH, & BEFORE I TURNED 20 I BOUGHT A LAMBO/BENTLEY WHICH REALLY PISSED ME OFF CUS I WAS TOO BROKE TO BUY A JET," a riff on a now famous line from the big screen adaptation of Jordan Belfort's story.
In addition to luxury cars, Oyefeso has a thing for fine watches and flashing his wealth on social media. Have a look, for instance, at the following image which depicts a Rolex, some money, and, somewhat inexplicably, a Wing Stop to-go cup:
With a bit of hard work and dedication, you too can have a $20,000 watch, a roll of 20s, and carryout from Wing Stop: "If you work hard you don't need to look at the price tag, you just get it," Oyefeso boasts. Here's more:
Elijah went to the University of Buckingham to study business management but put his student loan to good use.
He said: 'I used my student loan during university and I thought "I could actually do this".
Elijah dropped out of university and started investing in the stock market with the cash sum. Within nine months, he claimed he was making tens of thousands of pounds.
He claims his income on a 'bad month' will be between £20,000 and £30,000, while it can be over £40,000 more on a good month.
Elijah, who featured in Channel 4's Rich Kids Go Shopping on Channel 4, was filmed as he traded online, making £1,000 in just 15 minutes.
'I've been trading for three years, I know when to stop,' he said.
The most he's lost in one go is nearly £10,000. 'When you lose it, you get back up. If you lose 12 times, you get back up 12 times.
'You want to leave a name when you're gone. Think about JP Morgan, the assets are worth 2.6 trillion. So that's a lot.'
Elijah, who listens to classical music while trading, said: 'There's a saying, you are who you chill with. I chill with people who have half a million in the bank.
'Earning £20 to £30,000 a month, in my world that's not good. It motivates you to do more.'
Elijah also has a collection of expensive watches, ranging from a Rolex to a Cartier watch costing £21,000 which he has only worn a couple of times.
But he loves his watch collection, he said: 'You've got to treat them like princesses.'
He's even given them names, calling one watch Michelle and another Aaliyah after the singer.
There you have it. The American dream, only across the pond in the UK. Take out a student loan, invest in stocks, and ride the central bank put on your way to social media fame and fortune. But trading isn't Oyefeso's only source of income. As the Mail goes on to document, "he set up DCT Training Group to help others to get into trading, but after a free trial of five days he charges £107 a month for his expertise."
Catch us on @Channel4 Right Now!!!! #DCT ???????? pic.twitter.com/TYSmtbugJ2
— DCT Trading Group (@DCTTradingGroup) January 4, 2016
Every new member gets a big shout out on Oyefeso's Twitter account. Here's a representative tweet:
Big welcome to @chrish9070 who has just joined the trading team #DCT ????
— Elijah Oyefeso (@itsoezz) January 5, 2016
What does DCT do you ask? Well, let's ask them. Here's a bit of info from the official webpage:
The benefits of options trading include low capital investment to get started and no leverage on your investment. Meaning if you invested £10 on a trade you could only lose £10 and your balance could never end up in the negative. It allows high rewards with fast returns. We don’t have to sit around waiting for weeks to see a return on our investment as returns can be made in a matter of minutes. Everything is a controlled risk as you set the investment amount and duration.
We provide real time signals to new traders who do not necessarily hold the experience or skills to analyse markets for themselves or use technical indicators to predict the movement direction on an asset. These signals are sent out to notify them on when we spot a potentially profitable trade. Signals are calculated indications produced from our own technical analysis of the current markets and will guide you on the start time of the trade, expiry time, and the execution range.
- We send around 10 signals throughout the day. Return rates are usually around 70 – 85% profit back on successful trades. We advise spreading your investment by putting a small % of your balance on each trade.
- Trading signals simplify everything for you and enables you to place educated trades within a few minutes. You simply set the trade and wait for the expiry time. Hassle free and no waiting around or having to keep an eye on the markets.
- We average around 7/8 successful trades out of 10 on a consistent basis.
Basically, for £107 a month, Oyefeso will send you 10 options tips per day out of which "7-8" will be "successful."
As anyone who's ever traded options knows, that's a virtual impossibilty. The idea that DTC bats .800 on 10 options trade ideas each and every trading day is borderline absurd and it's also worth noting that Oyefeso isn't exactly being transparent when he tells clients "your balance could never end up in the negative." An amateur could, for instance, forget to close an in-the-money position at expiry and get assigned. That wouldn't put someone "in the negative" per se (you'd be "in the positive" by definition), but coming up with the cash to buy 100 share lots of expensive stocks might not be what some of Oyefeso's clients bargained for. Also, successfully trading options requires the careful and vigilant management of volatile positions. It's not exactly a job that lends itself to working "one hour" per day.
In addition to equity options, Oyefeso is apparently an expert in commodities and FX. "We produce signals for all major markets (commodities, indices, stocks and forex) the right asset, predetermined time period and direction for a profitable trade," DCT's web site says. We assume he's 70-80% accurate on those calls as well.
We imagine there are plenty of "traders" out there who would enjoy living a lifestyle of Cartiers, Bentleys, and Wing Stop, especially if all you have to do is follow Oyefeso's "alerts". The question is how he and the legions of CB put-surfing, 17-year old hedge fund managers will fare on days like August 24, when everything falls apart in a harrowing bout of flash crashing madness during which not even the "all weather" Ray Dalios of the world manage to make money. Actually that's not the question. The question is whether Oyefeso is for real, or whether sometime in the not-so-distant future, we'll discover that the old adage "if something sounds too good to be true, it probably is," applies to 21-year old college dropouts driving golden Lamborghinis...
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Hell if this kids is that good why isn't he making ten times that working for Lloyd and Jamie in Manhattan?...
Perhaps this is a Goldman utopia poster child that "This could be you" if you just give us all of your money to invest?!!! And Oyveyfeso is actually on the payroll???!!!
(Unpaid college loans accepted)!!!
i think this is the guy who does managed accounts for some pro football players
the thing with fx/commodities and options is if you know what you're doing you can take big risks and make alot of money. the problem is..most people dont know when to stop and get emotional when they lose.
this is going to be a fucking kick ass year for trading if you aren't a bitch
good for this guy..hes living that dope boy life and most of you faggots are sitting on the sidelines hoping for the world to end
the system is rigged..might as well try to make as much $$ as possible before it all collapses
My folks had friends like that, back when we lived in Joisey - they'd be driving Mercedes's, living in the big house, then ruined the next. Lather, rinse, repeat. Good for this guy if he is not full of shit. I think he's full of shit.
currency traders..?
Yeah well, we have seen stories like this before and they all turn out to be frauds, deadbeats or just plain old liars.
you are full of sh-t
xoxo beardstown ladies
How much do you want to bet this guy owes a shitload in taxes.
Day don't tax no stinkin elegal drugs man.
Why not. If people give that guy money, they have it comming.
I read the article and then the faint aroma of Onion filled the room.
Hustling in the electronic era.
Stock services are for gamblers to make up for their losses and turn a profit.
"Stay with this kid... he's a loser"
/Minnesota Fats
We will be seeing another story on this gentleman in the future.
some people will fall for any sort of bullshit.
The guy has a half million in cars and can't even buy a garage to park them in? He probably buys them as salvaged titles and fixes them up, based on his his recent accidents.
More like he leases them when he needs to look like da man...
Look like that roll of $20s could bank the Terrorist. Better lock him up and ban it.
I am more impressed he can spend $USD in the UK.
Doesn't this guy post spam on here under new accounts constantly?
"Somehow, he managed to crash his blue Bentley Continental into his metallic gold Lamborghini Gallardo."
Somehow indeed. Thanks for the laugh. Even the uncreative repeating of the same stories over and over can on a rare occasion be amusing.
Do I really need to decode the story and pictures for anyone? If you don't understand stop watching TV and start by reading the Bible.
One trick pony
As soon as the market turns he is toast
isn't he the founder of DCT Trading? I looked into this and the DCT Trading Group is part of BP (British Petroleum)
http://www.marketvisual.com/Search/Results?searchString=dct+trading
A search for Elijah Oyefeso turns up nothing.
Good work, Detective.
Obama's got a thick wad of cash in his pocket too except it's just a hundred wrapped over a bunch of singles.
So when did talking about N*gger Wads become racist?
Um, wait... if our boy here is working in Great Britain, why is his roll made up of US currency? Shouldn't that be pound notes? Jus' sayin"
He looks like a magic negro to me.
didn't know they traded options on crack...
He probably trades Section 519 being Nigerian.
Wait What has met a few of these '30k millionaires' who used their student loan money to start investing. probably a better investment than the worthless degree in basketweaving they would have ended up with, even if they do lose it all when the stock market turns.
Your tax dollars at work!
A list of his trades (and corroberratable transaction IDs) or it never happened.
He took a screenshot of some transactions... what do you think? This was on his twitter.. https://pbs.twimg.com/media/CV9S1ffWsAE7Ksk.jpg
It looks like his average win is $75.00 over 7 trades, which is $525. Assume this is his hour's work as he's round-tripped every 8.57 minutes or 12 round-trips in a hour. If this were an average day trading, he will earn $10,500 / mth. Again, without timestamps, I do not believe his claims.
To equate to his $30,000 per month claim as per the title, he would need to complete successfully, 400 trades in 20 days at $75.00 per trade. If he's successful 88% of the time (hah! - someone get this guy to Alpari) or and the size of his wins is 2 : 1, then the total number of trades needed to attain $30,000 would be 455 trades in 20 days or 23 transactions per day.
If he works one hour per day, then he's doing 23 transactions per hour or 1 round-trip every 156 seconds.
Yep, I called bull-shit until time-stamps are posted.
Without reading comments yet, I'm sure there are some 'death to the money changers' when this site was originally frequented primarily by traders and investors.
Good for him! I hope he splashes some of you blokes with a puddle from his Lambo.
i'm supposed to be impressed by a wad of cash with only 2 twentys showing?
Exactly... and the 20's are US dollars not pounds. This guy is ijnto black markets no pun intended. He'll be sharing a cell with Tom Hayes soon. Tom can teach him LIBOR trading.
yeah i noticed that dollars - pounds thing switching back and forth. i doubt there's enough in that wad for dinner and drinks.
if he doesn't have 100's he's just bush league.
crisp €500, €200, €100, £100, £50, $100s, whatever. Not a wad of crack ho ones and fives, that's for sure.
You're supposed to be impressed by Wing Stop.
Drugs or CIA/M6
I wonder how well he's going to do in the coming declining market?
I don't want this guy anywhere near my money - or my cars.
He probably needed the insurance money to cover his margin calls on crude.
The DNA runs strong with this race of people...
Shades of Lenny Dykstra.
I used to see Lenny on some of the saturday fox biz shows. Holy crap he was like watching sonny bono... not certain he even knew where he was.
I should have bought gold mining stocks with my student loan money in college. Fuuuuuuuuucccckkkk.
I mean, at least play craps. That's a lot more fun.
Natural born winner this guy. Even his mistakes turn to golden opportunity. I see Lambo/Bently towing and repair as his next successful venture.
I have to ask. How many of you even trade or invest in anything? Most of you sound like a bunch of pikers with a mean streak of jealousy. I'll send over a plastic protector for your bus passes to make you feel better.
And where are the new Jordans?
Shocking! The amount of racist comments. Here's a fact everyone of you fuckers and some hails from Africa, weakness, greed and various other characteristics caused migration North of the Equator, leading to everyone being trapped by the ice. Those who survived, adapted by losing their pigmentation, different eye colours emerged mainly in females to attract mates as the male population died due to violence... Enough of the acheaological lesson. My point is that black, white, green, what does it matter?
You idiots actually believe Europe, America belong to white people only. It's stuff like this that makes me say, Africa ought to get its shit together, even if it means over a mountain of corpses, let's see where you will get the resources to keep using your Iphone or the Titanium to put in your tanks to talk tough against Russia. I find people some people to be sooo stupid, the biggest Ponzi scheme is Wall Street, I should know... That poor sucker is nothing but an honest wall street guy making a living but I guess you racist fools would rather rate Goldmans ponzi scheme becuase they are white and wear suits. This is why most of you eventually end up dumb, broke and racist.
Well done to that Negro who realized, it is time to get his. The rest of you can keep hating, you know you want his Bentley but... You are white and honest, so yes you are being fucked.
thanks for clearing that up. good to know that cracker jacks now come with opinions as prizes.