Teen turned $250 into $250,000 in a year after learning about stock market on YouTube
The 19-year-old turned to YouTube to learn about investing in the stock market and his small investment has taken off.
A teenager has revealed how he was able to turn £200 ($A250) into more than £200,000 ($A250,000) within a year on the stock market.
Adam Mlamali, 19, taught himself how to trade stocks and shares by using YouTube videos and quickly saw his small investment multiply.
The business-minded teen had previously set up a jewellery business in Milton Keynes, and was keen to try his hand at trading.
Adam says that being able to invest in areas he was interested in drove him to the stock market.
RELATED:How 22-year-old made $17k with $500
Speaking to The Mirror, he said: “For me I was heavily interested in space really early on, only because I wanted to be an astronaut when I was younger.
“I was an early investor into Virgin Galactic, and Virgin Galactic was probably my best performing stock. I made over 100 percent at the end of it.”
Adam says having an actual interest in a company is the most important thing when it comes to making a profit.
Sharing his advice, he says: “Know the company you’re investing in and do the research before making the investment and that will make the investment 10 times worth it, because you know you can reapply the same kind of analysis, and you know you didn’t rely on someone else. It was all you.”
Above all Adam says that if you do not know what you’re investing in then keep your money as that is a “complete gamble”.
And his approach has certainly worked as Adam has continued to build his profits on the markets and now predicts that he could make a million within the next ten years.
If he reaches his goal, Adam wants to use the money to support his family who have previously struggled with debt.
This article originally appeared on The Sun and was reproduced with permission
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