This year Jamaica was ranked the 9th most miserable country in the world, in part due to high unemployment, high interest rates and a variety of other depressing economic realities.
However, it is out of these miserable economic circumstances that great individuals are born. One such individual is 20 –year-old, millionaire Zane Carmichael, who recently shared his success story with Codex Media.
Carmichael’s journey to success began while he was still a pupil in high school. He told Codex that he discovered the world of trading, which involves mostly “currencies and commodities” .
“I didn’t know much about it besides the basics I could find on Google, at the time, about candle sticks, supports and resistance, which [turned out be]all I needed at the time,” Carmichael told Codex in an interview.
Not only was Carmichael not particularly knowledgeable about the industry, but he admitted that he wasn’t particularly good at trading.
“At first I failed miserably one after another. But each time I would realize more of what I needed to do next time and what I neglected the last time around,” he said.
Carmichael’s hunger for success in trading was fueled by his humble upbringings.
“I was at least driven to get myself and family out of our miserable conditions here in Jamaica which has no mercy on the poor,” said Carmichael.
The 22-year-old millionaire shared with Codex that he grew up in a single parent household in Jamaica and his family struggled to make ends meet.
“My father left when I was a baby and my mother had to quit her job to raise my brother,” Carmichael said.
“We almost had nothing and had to move from house to house, to family member etc… We were essentially homeless and it stayed that way for quite some time after this,” he added.
When he had first learnt of the potential of trading, his home was without electricity. However, “after a few weeks when the electricity came back on, I stuck myself behind the charts day and night fascinated, until I ate, slept and breathed the charts,” Carmichael said.
His preoccupation with studying the financial markets was something that was frowned upon by his peers, Carmichael said.
“The funny things is all my peers in school would laugh, and say I’d amount to nothing, because I never did my homework and I was always in trouble because I was so busy doing things that[ did not matter],” Carmichael said.
He added, however, that the tables have turned.
“And now I have people from my school days emailing me begging me to teach them,” said Carmichael, adding “That’s why I believe in humility, because you just never know what the future brings.”
Carmichael, however, doesn’t bash school or the education system. He just maintains that school was not practical enough for a person like him, without the resources necessary to attend.
He also encouraged young people to stay at home for as long as they possibly can.
“Take advantage of your time while you’re young and being supported and can make money, no matter what little money you make, you can reinvest it and even save to then invest.”
Carmichael maintains that years of practicing with “Monopoly Money” (demo accounts), and studying the patterns and the way prices move, allowed him to make headway into the industry.
Though Carmichael is young and successful, he is very modest and maintains a very private life. He seldom, if ever, parties. He instead maintains a low-profile and is currently a bachelor and is not dating.
S/O Loop News Media for this article
Loop News reached out to Carmichael over the weekend. He said he would like to maintain his privacy at this time, but maybe at a later date he would consider talking to the local media.