By Rob Colville on April 12, 2017 in
Vladimir Ribakov got into trading by mistake – but that mistake led to over a decade of hugely successful trading and mentoring. Known to his students as the Nostradamus of the financial markets, Ribakov knows how to make successful trades, and what it takes to keep getting up again after failure.
Vladimir Ribakov got into trading by mistake. He was searching for ‘the Holy Grail’ of get rich quick schemes, and kept failing because there really is no such thing. It took him a while to realise this, but when he did he knew that hard work and learning was the way forward. There wasn’t much on the internet, and it was hard to find quality and he wasn’t sure what way to turn.
In order to learn, Vladimir Ribakov asked for a job in a brokerage company. He had no degree or experience, but he said he would try hard – he passed the maths test (as one of the top) and was invited to work there, despite being the exception as he had no qualifications and was just 21. His job was in the dealing room and it hit him that he couldn’t make money if he was doing the same thing as everyone else. He needed to ‘think outside the box’. So he came up with his own ideas and style.
Vladimir Ribakov’s style is known as ‘divergences’. This means that the market does not go in the way you expect it to when you look at the indicators. Every new trend has to start somewhere, however, and it could be that these divergences show a new trend. Divergence is just a different way to observe the market. It means you have to be careful, but there is a chance to make money.
He also analysed cycles and realised that once you know your direction, everything else becomes very simple. As long as you keep to this logical principle, you will make money. But that doesn’t mean he never failed – it has happened many times on his journey. One time he lost his parents’ money. They had saved for his university education, and they gave the money to him to trade with. But everything crashed, and he lost everything. That was when he hit rock bottom in his trading life. It wasn’t just the failure, it was the responsibility that he had to others. He was very young and it affected him. But he got up and dusted himself off, and that is the sign of a successful person – you keep getting up.
People start trading due to good marketing. But that’s not the reason to do it. It’s just empty promises and that leads to failure. Get into it to be a trader, not to get rich quick. Trading is a job; it’s not a magical passive income. Like everything in life you work because there is no such thing as passive income. No matter what, you will be working for it. If you are just in it for the money then you will fail and have nothing left to work with.
Successful traders are both born and made. Some people are just talented (although this is rare), some are well educated. Both types of these people can be successful traders. That means anyone can become a successful trader. Thinking outside of the box is what made Vladimir Ribakov successful. If you go with the crowd, you will be limited. Do something different, and there are no limits. If you want to be successful, think differently.