Vladimir Ribakov: The World of Forex Trading | The Tyler Wagner Show #1075

All right everyone, welcome back to another episode. Today we have Vladimir Rybakov and he is a full-time Forex trader, mentor, and internationally certified financial technician. So welcome to the show, man.

Thank you very much. Nice, nice to be here. Thanks for having me and hello to everyone.

Of course, man, grateful to have you on. Uh, so I'm actually— and I was telling you this before, I'm really excited about this because I was telling Vladimir that this is actually a selfish episode for me. I really want to learn more about Forex, so I hope everybody listening enjoys it, but this one, this one's for me. Okay, so, um, first thing, I, I kind of like to start here a lot of times with interviews because I'm always curious how people got to where they are. So when you were younger, did you have any idea that you'd do— be doing anything of the sort of like helping people with their finances or Forex trading?

Well, no, to be honest, uh, the only thing that was clear according to my father and my aunt, uh, they were telling me that since I was a kid, I always insisted that I will not be like anyone else, and I will, I will find some different way. When they were, when they did ask me what will be the other way, I will tell them whatever it takes, including winning a lottery. It looks like I was a unique kid, but I didn't win a lottery, at least yet. But no, Forex, I discovered it absolutely spontaneously, randomly. I don't know, never planned. I started in the MLM, the multi-level marketing.

Okay.

No, what used to be called a pyramid and whatever. I tried my luck there. Never worked properly, never worked well. I got a few bucks, I did some money, but never like all these promises. But the good thing that happened is one of my friends who introduced me to MLM back then, uh, he was the first one to start the Forex live seminars. Uh, it was like, well, I'm talking about like the 2000s, right? Like long, long time ago. And like, wow, I was a teenager back then. Like, I was absolutely hooked into that. Like, wow, that looks something cool. I went to a seminar and that's it. I knew that that's my path. That's my way. I had no idea how it's going to be like, but I figured out that it's something that I really want to do. Everything got me into that. The potential, the freedom it offers, the charts. I don't know. I love mathematics. I love analyzing and I love watching the big picture.

Every—

in everything in life I do, I always love to look like, you know, like when you play chess, few steps forward. Yeah, I love charts and I love imagining how it's going to happen. So I don't know how, but that's it. I decided that's going to be my path. And since then, every single day I worked more and more and more into that until, until, until it happened.

That's amazing, man. So, okay. So what I'm gathering from this, when you were younger, and it's actually interesting. So we're kind of similar in that way. I remember being younger too and telling my, I think it was both my parents, but the memories with my dad even more so just being like, I'm not gonna be like the normal 9 to 5. I'm not working a 9 to 5. Like I will figure something out even if I like win the lottery or like what I, and I said these same statements. So that's kind of interesting.

That's amazing.

And yeah, it was just like always in me. I just wanted to do, I just wanted to be my own boss, I think was the biggest thing. I wanted to be an entrepreneur and kind of live on my own terms. So, okay. So Forex, let's, let's jump into that. And then obviously I think based on what the research I've done on you and some other things that you just said, uh, you do more than just Forex though. Forex is just a part of it. But obviously when you say financial, actually, let me ask you this. So when you say financial technician, how would you define that? Like, what exactly does that mean?

Technical analysis is my field. That's, that's where I got my certification. And I was working for brokers. I was working for private hedge fund capitals. And at some point I decided that before I build family, I'll give it a shot. If it happens, it happens. If not, I can always figure out something later on. Um, luckily for me, or, you know, like, luck is dividend for the, for those who work harder. So probably I, probably I did it this way. Um, but I found my way in Forex. I left all the industry, I would say the official, the professional industry, and I started to be a retail trader. Quick enough, I figured out it's absolutely boring. It's just me and four walls. And I'm a social guy. I'm not a lonely wolf. I'm a social guy. I need people. I need communication. I need to feel— I need some meaning. I need to understand that, like, I, I contribute. I, I, I'm doing something valuable. And that's where the idea of opening an online community business, uh, came, um, first. And, uh, yeah, everything we did since is, uh, where we are today. But yeah, trading is a very, very lonely business, uh, and it's important to understand it.

Yeah, no, for sure. It's, um, we're again, we're very similar in that way too. My major in, um, college was actually accounting, and then I decided to drop out, and now everything I do is very involved with people. I could never just sit in a room by myself. That's just not, not for me. Um, so let's highlight Forex for now, and then we'll jump into some other financial stuff. So I guess my first question would be like, what are some of the biggest misconceptions about forex, like, based on your experience? Um, yeah, what are some of the biggest misconceptions?

Uh, well, I unfortunately— if forex had been so strong, so many things on the last couple of decades. Um, I'm fortunate enough to start forex when it was the old days when you had to call your broker to be quoted and make a deal.

Oh, wow.

It was nothing like that, like nowadays that you, you know, from phone you open a trade. It's like, no, you have to call, get a quote, put the volume, get approved. That's— it sounds like a dinosaur. But I'm fortunate enough to catch it because, you know, you grow into that. You go through all these changing things and different phases of the market. And then it was the boom of the robots. It was the 2010 or so when everybody was robot, robot, robot, robot, right? Like $90 robots and everybody was like believing in that. That was the first, I would say, scam because most of these things never work, never worked, maybe for some period, but not for the long run in the market. Then all the new regulations and all the changing things in the market. Then the fake— basically, it's wherever— I believe it's not only forex, wherever money is involved, there are scams, there are fake promises, there are gurus or whatever you choose to call them. There are those who pretend to be, and there are those who will do whatever it takes to sell you the dream and leave you there with a nightmare. So that's the problem, the biggest problem with Forex, all the online fake things happening, promising the skies, delivering absolutely nothing.

Yeah.

So from one side it's sad, from other side, you know, I believe in the saying, look on the positive in everything. On the other side, it opens the eyes for such a mass of people. And for those who are willing to look at the reality and not fall into all the premises and beliefs, there are great opportunities. So Forex is absolutely amazing market for those who are really, really willing to understand how it works, how it goes, uh, and, um, put some effort into that, disciplined effort. It's, it's, it's an absolutely amazing market.

So, and actually, um, because I just realized some people listening might not even know what it is, how would you define, like, what is forex trading to begin with? How would you describe what it is?

Well, forex is currencies, foreign currencies, foreign exchange. It's where you exchange currencies The first automatic things coming in imagination, it's like exchanges, right? When you travel the world, you go to exchange and you exchange dollars to whatever it is, like baht or, yeah, whatever, right? But basically it's the same concept, same logic, but it's everything happens in digital way. If it's the app or if it's on computer with brokers who are connected to the real market. And all this exchange happens automatically without you being involved doing anything. You just buy and sell, buy and sell, buy and sell currencies, different currencies.

And the idea is, just so people understand of like how to make money with it, the idea is you're like buying one currency and then hoping that currency goes up in value and then sell it or transfer it back. But it's like this constant, like, small trades in a sense?

Correct. It could be small, it could be long-term, like, like anything in life. When you sell something and when you buy something and you are looking to sell it in better price in order to make some profits, uh, so Forex is not different. It's absolutely same like any other business or any other money, uh, transaction.

And then, because that's one thing that I've heard is a lot about the bots, so would you say that there are any, like, bots out there that are kind of like good or predictable in outcome, or you would say you definitely want like a human to be making the decisions?

So yes, there are, but it's important to understand that if you expect from a machine that costs $90 to always deliver profits for you, it's, it's, it's silly. It's wishful thinking, right? But unfortunately it's not going to happen. The market changes. There is always different phase and one bot cannot predict the changing market conditions. So if there are people behind the bot and constantly updating the algorithm, making sure it corresponds to what happens on the market right now. Then yeah, absolutely, it's a legit bot and it could work. But just for comparison, right, the biggest hedge funds invest multi-millions in developing such algorithms. So to expect from a bot, you know, for $40 or $90 to always deliver, it's a good wish, but it's not going to work. So yes, there are good tools there, which are Behind them, there are, you know, brilliant brains. But again, they will not cost $40. Yeah, for sure.

So what are— so I have a couple of questions here. So one is for a story for you is like, can you share like some of your biggest, like biggest failures but then biggest successes with forex like that that you've had? Like, I guess it could be like a trade, or rather like something that you thought would work and it didn't, or something that really worked, um, you know, something along those lines.

So I will not focus on a trade, even though every trader has some trades that we should simply remember about it. But, uh, no, for me the biggest failure was, uh, to blow up the money that my parents saved for my university. Um, yeah, I was born in Belarus And you know, the, my parents are the old school, uh, Belarus or Russian education. Like, so you have to go through a very specific path, get your degree, go to work, you know, the, the, like the classical way. Uh, and, um, somehow I managed to convince them to that I, I will do it differently. So they gave me the, the shot and I blow this account. So that was very embarrassing, very humiliating in some way. At some time I even couldn't really look at their eyes properly, you know, without this feeling that I failed. And I sold them some dream that I can do it and boom, everything like explodes in their face. So yeah, this was my, my probably biggest failure. There were many different failures, of course, and big losses on the way from trading. But this is something I always remember. It's a moment that after I— it took some time to recover from that. But after that, I said, whatever it takes, I'm going to make up for that, whatever it takes. So it's like my first man decision, you know? Yeah. And my biggest success, I think, yeah, of course there are some amazing trades, but my biggest success is the club I run nowadays. I think we have an amazing community and a real community. I mean, there are people there from all around the world. I had the privilege to meet so many of them. We're traveling around the world. Well, before COVID started, we used to travel around the world, make these meetings, club meetings, spend time. Talk to people. It's huge privilege. Um, and you know, you get these letters on how you affected lives. Nothing can compare to that. Nothing.

Yeah, man, I, I agree with— same with what I do with helping like people become authors. Like, when you just see the impact that you've had on others, I think that's one of the coolest things ever. And actually, similar with your story too, man. When I dropped out, I I think here's a lesson here in what you just said is that when you put yourself— there's actually a song called Bullet and a Target by Citizen Cope, it's the name. And what the song is about is that essentially when you put yourself in a situation where your back's up against the wall and like you force yourself to grow or to— basically, you're in a position where success is the only option. Right? Like you won't allow failure. And I think though, most people are afraid to put themselves there. So they stay the normal route. And although you don't fail, you also can't really break out of the normal, if you, you know what I mean? So you took a risk, it failed big in the beginning, but now you're here. Right. And it's, it's succeeded overall. So either way, I just think that's a lesson that You know, especially when you're younger, dude, take the risk. I mean, there's no better time to do it.

That's a good point. I don't know, to be honest, not now as a father to two amazing boys. I don't know if I would be able to take such a risk now, you know, with all the responsibilities, with all the commitments to go and leave an amazing job. I mean, being a trader, it's a very great income, especially when you're successful. But leaving that and chase a dream of being a retail trader. I mean, it sounds ridiculous by itself. Why would you do it? You are managing millions and now you are going to what, to trade your own account? Come on. Yeah. So, but the freedom coming with that, and that's why I decided, you know, I believe I'll take the risk. So I'll fail, I'll fail, no problem. But at least I know I tried. And I personally very much believe in— there's great quotes that goes like, the darkest nights usually produce the brightest star. Mm.

Yeah. Yeah.

I love that. And I love it. I love it. So yes, there will be hard moments, of course. Who doesn't go, uh, life puts you through shit. Sorry for that, but face it, right? And if you are able to face it, if you are able to deal with that, then absolutely the next day is going to be different, better. And yeah, that's That's how I build, pave my way up, you know? That's, uh, for sure.

No, I can totally relate. So tell us a little bit more about your community, because I think my next question for you was going to be, if somebody wanted to get started in Forex, like, what would be a good starting point? So maybe you could answer that, but then also I'm assuming joining your community would be one of those ways. So tell us a little bit about both. Like, how would you get started if you could go back? Like, what would be a good place to start? And then also, how does your community and mentorship work?

Well, first of all, the most important thing to mention, the best way to start is start.

Yeah, I agree. I know.

Do not plan too much. Do not wish too much. Because the mistakes I did is I'm a self-built trader. Maybe I can say it proudly, but maybe also not proud because I could avoid some mistakes I did on the way if I would be able to find someone who would really lead me there. I didn't. And also, to be honest, I didn't have— when I was a teenager, I didn't have the money to pay for someone who— I mean, what do I know from my life, right? As a teenager. So I didn't have this money, didn't have the privilege. And I was trying to get as much information from as many sources all at once. And it's so confusing because you are trying to do everything. All the time, and you are not really trying to, to, to rely on something.

On—

you don't deal with fundamentals, right? You are trying to build first, second, third, fourth, uh, levels without having a proper fundamentals first. So my recommendation after going through the journey is, first of all, understand what is the market, how things work, uh, who plays against whom, uh, you know, figure out the terms that it's important to understand. What is a buy? What is a sell? What is the volume? How do you actually make a transaction? How do you choose your broker? All that important things, it's, it's, it's critical. Just to put the money on the first broker you see online and start buying or selling because somebody says, or because you saw some promising, beautiful video on TikTok does not going to make you money.

I know it's all over TikTok.

That's the reality. So for those who are really into that, like in anything else in life, build the fundamentals. First of all, understand where are you stepping in. The next step is, yep, start with the basics, right? Basics of analysis, the methods, basic understanding of the fundamental analysis, basic understanding of the technical things. How do you work with the charts? How do you find the levels, et cetera, et cetera, et cetera, et cetera. And then if that something keeps you, keeps the same interest, because usually I believe in the law of like, like with ordering something, don't order something for the first 7 days. After that, if you still need it, order it, right? Because most of the times, most of the times we don't need things we order or we need, right? We see something cool and like, eh, let's order. Hold on, give it even not 7 days, even 3 days, because usually this fire, the instant fire, it will disappear. Same, same with trading, right? If you find the interest still after you started to dig into that, after you saw some art, you read some articles, saw some videos, read some books, if it still keeps this fire in you and you want to progress, that's good. That means there is a— Forex is something that really could be meaningful for you. Because for most people, it's simply like chasing the dream. Maybe I can make some quick money like the NFTs, like Bitcoin, like anything. It's a new trend, right? So this trend is always like changing and repeating, changing and repeating. So, and then of course, if you finish the first two levels successfully and it's still, you have this interest and you want to dig deeper, then yep, go and read advanced books, advanced analysis strategies, and that's the time to start and try to trade with understanding you might fail several times and most likely you will. And it's good because if you are one of those people that are willing and able to learn from mistakes, then mistakes will be the best teachers in your life, better than any mentor.

Definitely. Yeah, no, I agree with that. Yeah, you definitely remember when you lose a big chunk of money, you learn from—

yes, yes. So, uh, that's my recommendation. And you, you were mentioning my club, so you Yeah, after all these years, uh, we recently actually, like a couple of months or so, opened the new format of the club, of the community club, the Home Trader Club. So after all the experience I got in the past, it was Traders Academy Club. I changed it in a way that everyone can take it from really step one all the way to the latest step. So we have I don't know how much content, but like, like, like a Wikipedia website. So much content for all the levels. And it's built very, very user-friendly for absolute beginners, then more advanced, more advanced, more advanced. And then, of course, the place where we actually trade, where I share my trading ideas and I follow them up on a daily basis, basically. So that's the Home Trader Club. And that's, as I mentioned before, For me, maybe the biggest success in all my journey is to have this community and affect people.

Dude, that's amazing. Yeah, I'm definitely going to check it out myself. And anybody listening that's interested, highly recommend you check it out too. What is it? Another question I actually have for you. So that seems— is that like a monthly membership or something? Is that how that—

we have both monthly and annual.

Annual. Gotcha. Gotcha. And then do you— is there a level above where you— and I don't even know if this is allowed or not, so I'm just curious, like, are you allowed to, like, manage other people's money and trade it for them? Is that not a thing that you do?

I'm not allowed. No, you need a very specific license for that. I don't have the license of managing someone's money.

Gotcha. Gotcha.

And no, that's the part of the financial technician. It's technical analysis. In the trading, that's, that's my field. Uh, I'm not a financial advisor. No.

Okay, got it, got it. Yeah, and I'm just, um, it's funny too, I think, and I've said this on so many episodes, my dad, he, he is an accountant and he manages all my money. So I always say I'm, I'm very good at making money, but as far as understanding terms and managing money, I'm as ignorant as it comes because I've always let my dad do everything for me. So I don't know Yeah, I do the same.

My wife does the same. Yeah, I have no idea.

Yeah, I'm just like, no, I'll make it, you, you do your thing over there.

Yeah, and I'm lucky enough to be, you know, married well. It's one of these important things you have to do in life. So I'm very lucky to be married super well, extremely well, because she is so responsible. She's also the old generation Ukrainian. My wife is Ukrainian. Yeah, the old generation. And she's very responsible with everything because she's not going to spend it on— yeah, everything, right? So I'm lucky.

You know what's interesting? And, um, I don't know, um, just something to know. I don't— this is totally irrelevant from the interview, but I'll just say that I— so I lived in Miami, that's my base, and I've actually dated a few, uh, women that were Ukrainian, actually. And like, I— they seem very just intelligent and on— and I'm making a generalization. So this is like funny, but I'm just saying that very like on top of everything, like every time I went out on a date, like, and very also like serious about the long term. Like it would be like the second date and she would be like looking at me and she'd be like, so where do you see this going? Like, what is this? Are you all in on like, what do you want to do in 5 years from now? Like very— and I actually liked it though. Because it's no bullshit. Like, it's just like to the point. Like, I don't want to waste my time. What is this? And so either way, I have an appreciation and God bless you, man.

That's awesome.

Thank you. So, okay, another question about the finance stuff and then just a couple others, just more about you because I'm just curious. So besides forex, what other stuff are you like into as far as— or is it only forex specifically? No, no, no.

Forex is my main thing. You know, you, you find your place, so you stay in your place. But, uh, there are times that there is nothing to do in Forex. I mean, as, as much as I love Forex, but if the market doesn't move, or if there are no opportunities, then I cannot make money. And there are periods, right? You can have an amazing month, you can have an absolutely terrible month, you can have a break-even quarter. I mean, nobody can predict the, the market, right? So, um, it's, it's not like, like a salary when you work, you know what you're gonna deliver. Yes, I have my averages. Yes, I know at the end of the year I'm gonna make my percentage, but during this period there, there is nothing stable. So for me it's a long-term game always. Uh, and that's how I treat it. And the moment I switched that, that thing in my mind, it helped me a lot because most people, like if they don't make money in the end of the week or end of the ones, they're like giving up. Like, no, that's not for me. Why? Who promised you it's gonna— it's like a business. Are you going to paycheck yourself every single month? I guarantee not, right? So yeah, uh, once you change it, it's different. But no, I'm, I'm into crypto.

Okay.

Not, not proud with my performance since the drop.

I don't know of anybody.

Yes, but yeah, I'm into crypto. I'm involved with several great projects. So let's catch up in 10 years. I'll tell you if it was a good call or not, or maybe just a failure. And no, it's pretty much— that's what I'm doing right now. I run my club. I'm involved also in— you mentioned before the algorithms. So I'm very fortunate to be in a team now that are building algorithms, like, behind— yeah, absolutely technical and mathematical approaches. That's what I love the most. And it's always updates with the market. As I told before, if an algorithm would be able to change with the market, with the market cycles, with the market phases, this algorithm has a— yeah, you know, it's a legit creation. So that's what we are doing right now, and that's a very great project which I'm proud of. Besides that, I enjoy the freedom trading brings.

Yeah, okay, so that would be— this is kind of my last question to you is So we talked a lot about the finance stuff and everything, but in your— I'm assuming this has provided you a lot of freedom. So like, what is your— what do you like to do in your free time? Like, what do you do with all the freedom is the question.

Well, I hope it doesn't sound like a cliché or something, but for me, as I told you, I decided to go and take my risk before I build a family. So I have a family and I consider myself as a family man.

Yeah.

I wanted to be involved with the kids, like to see them growing and not just, you know, be present once in a while. Uh, no, I wanted to be involved. So I am very fortunate to be able to do it, like take them to school, bring them to school, go with them to classes, watch them playing basketball, swimming, hockey, all this good stuff, play with them and so on. So for me, it's the main part. And then my personal habits is I love all the entrepreneurship books, I love the self-improvement books, I love thrillers and stuff like that, and I love sports. So for me it's gym, tennis, and soccer. That, that's my thing. Whenever I have the opportunity, I'm there.

That makes sense, dude. That's awesome. And yeah, I, I agree. I think that's really cool that you like set it up that way where you do have the time to watch your kids grow, because I A lot of times, and look, it's— I'm not saying anything bad about it, it's just the unfortunate truth is a lot of times dads, and sometimes it's the woman, but a lot of times it's the dad that's working the whole day and they don't really get to be in the life of their kid as much. So it's really cool that you're able to do both. Um, so yeah, I guess last question I would ask you is, um, or just say is if there's anything we didn't cover that you wanted to, you know, please share it. And then also let people know, like websites, social medias, like how can people stay in touch with you?

So, first of all, I hope people will take something, at least one little thing positive from this conversation, and that means I, both me and you managed to deliver something for them, some value. So I hope that's the case. Yeah, my main suggestion is don't rush into Forex specifically or anything else before you do your homework. Most people jump like into, you know, it's like a crush. You see someone in gym you like and you already like do your moves without really understanding if it's right. So same here, don't rush. Start, take your time. The market is going nowhere. There will be opportunities tomorrow. There will be opportunities in the months. There will be opportunities in a year. Nothing will change, but you will just come smarter. So take your time, do your homework, do your preparation, learn the basics before you step in. And as I said, if you decide to give it a shot in anything, forex or any other thing in life, then do it properly. That's how I teach my kids. Whatever you do, do it the best way you can, or don't do it. Just do it because, you know, to make it a checkmark, it's a waste of time. If you don't want to do it, then don't do it. But if you decide to do it, then do it the best way you can with all the best efforts. Worst thing, it's not going to work. It could happen. There is no guarantee it's going to work for everyone, right? So it's a good saying maybe to say here, not everyone can be a trader at the end of the day, but everyone can become a trader. And it all goes with the efforts, with the discipline, and with not giving up on the little obstacles everyone will face at some point on the journey. So that's my biggest suggestion. If you decide to do it and do it properly, the best way you can, and put the efforts. No, don't say tomorrow, or I'll come to that because tomorrow never comes. It's, uh, when I was doing that, I was working for the brokers and every night I was coming, it was different city. I was driving 1.5 hours back and forth. I came home. I was sitting until 1 or 2 AM doing my, uh, my studies. I was reading books. I was watching the chart, paper trading, then real trading and learning every single trade track recorded to learn what did I do good? What did I do terribly? And how, how can I improve? In order to avoid these mistakes later on. So yes, it's hard. You miss sleep. Sometimes I don't go to social events when, you know, when all my friends are going to drink. Yep, it's, it's, you have to sacrifice something. So it's important to understand it before you step into that. And about myself, then all my social things I'm not, I'm not a big rock star like, like the other young kids in the Instagram. I feel like a dinosaur when I watch them. I'm like, oh my God, where they are doing such an amazing job, incredible job, and all these social media with images and videos. I mean, that's— I, I don't know how to do it. I mean, that's not you. No, I don't know how to do it. Uh, and, um, yeah, so I'm not that, uh, famous there, but it's all stands for my name, Vladimir Rybakov, on all the social medias. If it's the YouTube, the channel, or the TikTok, recently opened, uh, and Instagram, uh, and my website, my main website is the hometraderclub.com, and my blog where we also put all the articles and everything, it's vladimirrybakov.com. It's all straightforward, simple.

Dude, thank you again. I, I really appreciate— like I said in the beginning, I— this was also for me, like, I really just wanted a good overview, and I feel like you laid a very good like landscape and foundation for people, uh, for forex and just really financial and making decisions in general.

So thanks again, uh, for coming on, man, and thank you very much for having me. Again, I hope the listeners would be able to find something, uh, to take with them, and, uh, it's an honor. Thank you.