Samuel Leach has come a long way from his early trading days, a career that only came about after failing in his original wish to work on an oil rig.
Now a multiple business owner, successful stocks & FX trader and crypto founder, he’s planning to go a lot further.
In this Trader Dozen interview with TraderLife's Chris Johnston, Sam gives us his account of the journey he’s been through, what motivates him and the secret to his growth, which he talks about in depth in his TED Talk (view it below). And with the rise of crypto, he explains why one day he believes we'll be buying bread with his own contribution to digital currency, Yield Coin.
You need to have a reason "why?" to get up and achieve, otherwise you will not have the motivationSamuel Leach
1. Can you remember when and why you got into trading?
I started paper trading at the age of 17 after searching for the best paid jobs. Working in Banking and Finance was number two on the list after working on an oil rig. I failed to get on an oil rig so went for the next best thing. I started to focus all my energy on my trading and was working in a private bank C Hoare & Co as a project manager.
2. What’s your trading style and how do you fit this into your other life activities? Do you trade around your life or does your life/job fit around trading?
I trade Equities long term and FX intraday. Trading ruled my life for a number of years and I didn’t really have a life outside of this. Trading these days has to fit in around business meetings and other activities, which is why I automated my FX strategy, as there is not enough time in the day! My automated trading system has a verified track record dating back to 2016. Giving true stats seems like a diamond in this day and age, and its something at Samuel and Co Trading we focus on, always making sure we are transparent.
3. You seem to have an insane work rate. What motivates you to get up in the morning, go to work and really enjoy what you're doing?
I want to make a difference, whether that is educating others or helping my staff reach their goals and aspirations. You need to have a reason “why?” to get up and achieve, otherwise you will not have the motivation. In this day and age I see a lot of people almost acting like zombies and not believing in themselves, they need to WAKE UP! I am very active on helping and growing people's financial understanding and money management to help the community to be what they want to be.
4. Throughout your journey, are you able to pinpoint a moment or a routine that you started doing that then made all the difference to your trading and/or life?
Pushing myself to feel uncomfortable, I came to realise if I felt comfortable I wasn’t growing. The power of that feeling is often mistaken for a bad thing, I explain in my TEDx Talk how exactly it has helped me grow as a business owner and a trader. Routine is rather simple, fit in 100 hours a week on your grind and work like you're always second place and you’ll be surprised after three years when you look up what you have achieved.
5. I’m presuming that you’ve come up against failure in the past. What has been your approach on getting past these failures and has this evolved since?
I’ve had a number of failed ventures, algorithms and systems but every successful business owner/entrepreneur will need to push through these. Before taking the plunge into a new venture, I will always look to minimise the risk so I’m not overly exposed should the project not come to fruition. But I think the first mistake is to look at them as a failure, it's just natural progression like a hurdle race, you will get there at the end if you keep jumping.
6. What would you put your success down to? Just being lucky (being in the right place at the right time), your intellect and smarts or just consistent hard work? Or possibly a combination?
I think luck has very little to do with it, but you can make your own luck. It comes down to how hard you’re willing to work. When I started out 100-hour weeks were the norm. I’m not always the smartest academically in the room but I’m always willing to work harder and look at the bigger picture. People always want something in the short run, things take time and that’s something I was always aware of. Work ridiculously hard and you will make it happen, it’s a fact.
7. What do you think sets you apart from others who are trying to be successful?
Patience and hard work. In terms of knowing that if I continue to work at a skill, I will improve and become successful, but this may take a number of months or years. A lot of individuals want to see instant success or instant results; however life doesn’t work this way. Knowing simple things such as this “working one hour a day on what you love, within five years you will be a respected expert within your field” it's not much to ask from yourself? An hour a day is it?
8. What advice do you have for those who fail, give up or never get started? For either trading or something else in life.
You will not have failed to reach your goal as long as you’re working towards it. You’ll only fail once you stop trying/working. This is the defining factor between those who make it and those who give up. Giving up is not in me, you simply learn and move forward. Making a seven-figure business is never going to be easy otherwise everyone would do it. It takes learning, it takes progression. Finally, it takes TIME! And you must be willing to give it.
9. Do you set yourself goals? And do you feel that it is a good way to achieve what you want?
I set yearly, monthly and weekly goals. It also helps to visualise these completed goals. I work a lot on my mindset, and always visualise how I want my life to work, one week, one month, one year from now. Then I work it back on how I can achieve this and put goals into place to achieve these visualisations and work my butt off to achieve it.
10. Knowing what you know now and how you got to where you are today. Is there anything you would like to have done differently, maybe done something earlier in life (or later) etc.
I think when you strive for success you only see the good sides, there is a lot of work, a lot of pressure and a lot of eyes always watching you hoping you will fall or slip up. So I think if I did it again I may have tried doing it in a quiet manner and not attracted too much media in the early days.
11. You've built up a successful trading company and now you've recently launched a cryptocurrency called Yield Coin. What were your motives behind this, why jump into crypto?
I needed a fresh challenge, Samuel and Co Trading was running itself and I was becoming complacent. I wanted to push myself. We had the expertise as a team to add value and enter a rapidly expanding space. When I start a business I look for gaps and in the crypto space there are a lot of gaps that we could patch and fix and grow the market place.
12. Can you tell us why you believe Yield Coin is different than any other new crypto out there?
Yield Coin (myyield.io) is focused on bringing a “real world” use to the crypto space. In early 2019 individuals will be able to purchase a loaf of bread with Yield Coin, which is a fantastic achievement for us. We also have businesses willing to integrate the token into liquidity driving projects. This has been achieved with a high level of compliance and ethics which is hard to find in the space we are operating in. Putting the users first and listening in this world seems to be a hard skill that we have got. Always listening to what our users want and how we can deliver is key to progressing in this space.
13. What would you like the long term goals for Yield Coin to be?
It’s very hard to predict what will happen in the crypto space as it is very volatile market. I believe Yield Coin can become a top 20 token within five years. We will have a strong, well-educated community that uses Yield Coin on a daily basis. We are always expanding our reach across the globe both in users and business partnerships, we are not looking to recreate the wheel but to listen and help traditional businesses take on this new tech focused world.