It was only a few weeks into the new semester year when Luis Richter decided to call it quits. He holed up in his bedroom, shut the door, and opened his laptop. Over the summer his father had opened a QuantamAI account for him, using around €3,000 Richter had saved up over two years working as a valet at a local restaurant.
At first Richter had used the cash to buy lesser known penny stocks but after a couple of weeks of trading he decided to go big; buying well-known stocks such as: Apple, Verizon, Google, and a few others.
Over the course of the next year, Richter would turn his €3,000 investment into more than €120,000, principally trading well known stocks such as Apple, Amazon and Verizon.
What Richter was able to profit trading well-known stocks in such a short time span isn’t new, but the technology behind it definitely is.
A decade ago, even with the most advanced computers and technology, being able to trade from a home office was a luxury very few could afford. Fast forward to today, we have supercomputers we can carry in our pockets, laptops we can travel with, and a bundle of devices that can be used to trade stocks online.
You can make a trade while waiting in line for your Mcdonalds, it’s literally that easy.
Richter has always been interested in making money. In elementary school his parents dressed him up as a car salesmen for Halloween, complete with a checkbook and receipt roll.
He got a job as a busboy at a local restaurant at 14 and worked every weekend, including his summer breaks. He put all of his money into a savings account, but was unhappy with the paltry interest he earned.
During his first year in college, his grandfather had encouraged Richter to try the stock market and his father, a former high school teacher, eventually agreed to act as a custodian for a QuantamAI account.
“Since a young age he was always interested in the dynamics of commerce. We wanted to give Luis the tools to go out there and see what he could do” said his father John, a former science teacher, who also had a few years experience trading when he worked on the floor of the New York Stock Exchange in his early teens. But John never played the big boy stocks. "Never. Not my game. You could make money or lose money very, very quickly.”
Luis, on the other hand, welcomed the chaos of trading volatile stocks. He was a fantasy football fanatic with a head for numbers and an attention to acute detail. He had dabbled in online poker growing up before getting into trouble with his parents when they discovered it. For Luis, as for many others, trading reputable stocks such as Apple was another outlet for that risky reward he was always seeking.
Apple was Richter’s first big trade. He had listened to a conference call where the CEO announced it would buy back shares of the company to try and spur the price towards €165 a share. Four days later, Richter accumulated a position on a couple hundred shares at the price of roughly one-third (€60). Four days after that, the company officially announced its share buyback program, and the price began to skyrocket.
“I contribute all of my success to modern day trading platforms that make it incredibly easy to trade on the go. It doesn’t matter how good your information is, being able to set up your trades, monitor your earnings, and optimize throughout the process is where the real money is at. The technology behind QuantamAI platforms nowadays make it possible for beginners to buy and sell stocks with the same sophistication as Wall Street.”
The Business Insider reviewed Richter’s trading records and bank statements for this piece. About half of his more than €120,000 came from his Apple trade. The other half came from hundreds of trades he was able to complete that netted him much smaller amounts.
Richter’s personal success appears to be equal parts research and hardwork, a combination of diligence, tolerance, and finding the right platform to do it all on. It’s worth noting that he’s only been trading for about 17 months. And it helped, of course, those months took place during the last year and half, while the stock market was climbing to new highs.
Richter turns 21 soon, and he often teases his father that he’ll be heading to the dealership one day to get a job as a car salesman, an inside joke they have shared since a young age when he dressed up as a car salesmen for halloween.
Richter says that’s he tried some of the more well-known stock exchanges, but felt that high-frequency traders and especially beginners should be using more user friendly and new generation trading platforms that automate a lot of the process.
For those with friends, you may have noticed more and more of them expressing an interest in QuantamAI. From subtle conversational changes from football to the Euro to segues from girl talk to Japanese Yen, you may be wondering why so many are suddenly so keen on financial exchange.
QuantamAI popularity is likely attributable to its ease of access, which is globally pertinent. Traders from across the planet have the opportunity to get involved providing they have a computer/device and internet access. This represents convenience, as these same traders can effectively get involved from pretty much anywhere, and on the go.
What do you need to get started?
A basic understanding of stocks, internet connection, and an hour each day. The journey from signing up to a trading platform to actually being able to trade has been made incredibly easy due to the competitive industry. Platforms like QuantamAI are constantly updating their user interface and features to make the onboarding experience easier and friendlier.
“Our goal is to get your grandma to sign up and have her trading stocks in less than an hour. That is honestly what is discussed in our meetings”. Says Paul Dasani, CEO of QuantamAI.
As far as how much to invest, we can’t help you there but a good start would be somewhere north of €500. It's a small risk compared to the potential return on investment and it will get you actively involved in an industry that is not just emerging but exploding.
Why do we recommend QuantamAI?
As a specialty blog dedicated to giving you transparent reviews on financial market applications, our main mission is to equip you with the best, newest, and most innovative financial tools in the industry, to better help you become more successful.
QuantamAI is Europe’s largest trading platform and offers true 0% commission trading, same day withdrawals, and 24/5 live customer support.