Chapter 5
Rags to Riches
Hoosain Harneker
Imagine losing your life savings in a partnership gone wrong and
having to pick yourself up from such a calamity. Hoosain Harneker
took seven months to save up$1000—an amount that most col-
lege students can easily earn working for a few weeks at local
restaurant—and started to trade foreign exchange. Hoosain is as
conservative as it gets. He refuses to trade a strategy until he has
tripled his demo account three times in a row. He goes for 10-pip
trades once a day, which may seem miniscule to most, but in the last
three years he has turned that approach into an average profit of
$500 a day. With his systems engineering background, he has been
able to design his own automated trading system, which makes sure
that he never turns a winner into a loser. His cardinal rule is to never
trade his system during news. Having been broke before, making
money on a consistent basis is far more important to him than
becoming rich overnight so he locks in profits as often as he can.
From his office in South Africa, Hoosain sat with us to share
his story of how he managed to go from rags to riches.