‘I believe in educating people so they have the best tools to make better decisions,’ he says.
6 min read
Opinions expressed by Entrepreneur contributors are their own.
In this series called Member Showcase, we publish interviews with members of The Oracles. This interview is with Marcello Arrambide, founder of Day Trading Academy and SpeedUpTrader, a funding company for aspiring day traders. It was condensed by The Oracles.
What was a defining moment early in your life?
Marcello Arrambide: The day I decided to quit my job to travel the world. I had a great deal of fear and insecurity about not having a paycheck, but I found that if you believe in yourself and work hard, you can achieve anything.
From the time we are born, we are told what to believe, what language to speak, why our country is better than others, and where we should work. When you travel, your eyes open to different possibilities. Traveling is the best education.
What is one of your proudest moments?
Marcello Arrambide: One of my proudest moments is the day I had the financial freedom to take my mother traveling to India with me. She brought me and our family from Venezuela, where I was born, to the U.S. in search of a better life. Giving back to someone who sacrificed everything for my sister and me was an incredible feeling. Moms deserve the world — they make the ultimate sacrifice and commitment to help their kids have a better life than they did.
What excites you the most about your business right now?
Marcello Arrambide: My entire business model revolves around helping people. I provide funding for traders to help them become consistently profitable in the financial markets. I’m successful when they are. Having the opportunity to help others find complete freedom is a unique feeling I can’t describe.
What’s your favorite quote?
Marcello Arrambide: My favorite quote is from Albert Einstein: “You never fail until you stop trying.” There are countless success stories in history about things that were “impossible.” In 1800, it was impossible to imagine that we would have light bulbs — until Edison found the secret after trying 1,000 times. In 1900, flying in a metal tube through the air was impossible — until we invented the airplane.
Lack of commitment and consistency is why most people fail. We all experience ups and downs in life; how we react to them is the key. It’s not about the events that happen — it’s our attitude about them that dictates the results.
What was your biggest, most painful failure?
Marcello Arrambide: I lost over $112,000 trading silver a few years ago. Losing that kind of money can break your heart and rip the motivation out of your soul. I lost it because I became overzealous about profits. After 15 years in the finance industry, that experience reminded me that it is always about being disciplined enough to follow your plan. Without discipline, you won’t achieve anything in life.
What’s the biggest common leadership mistake?
Marcello Arrambide: Blaming others instead of being part of the team. Many leaders take the credit when they win but blame the team when they lose. As the leader, you are responsible for all the results, positive or negative. In the face of losses or problems, reflect on what you could have done better instead of pointing fingers.
Help the team, don’t expect them to do everything. If a team, project, or company fails, it’s because the leader didn’t lead them to victory — not because the team didn’t do their job.
How do you hire top talent?
Marcello Arrambide: Set clear intentions and the right expectations. Everyone puts their best foot forward in a job interview, so you don’t truly know someone until after you hire them. Anyone can look good on paper but you can’t hide results.
Hire quickly and fire even faster. Anything else is a waste of time. Someone who doesn’t treat others well can be a cancer to the entire organization — and cancer spreads. Finally, don’t choose money over the right people.
How do you prevent burnout?
Marcello Arrambide: The adage is true: If you love what you do, you’ll never have to work a day in your life. Most people burn out because they aren’t doing something they love that inspires them.
My definition of success is having freedom; money is just a byproduct. Most people focus on making money, but money won’t make you happy. If you truly do what you love, you’ll always succeed. You’ll also have the best attitude and work ethic because it’s not a job — it’s a labor of love.
What are you working on right now?
Marcello Arrambide: I’m fortunate to be able to make money investing in the market and trading from anywhere in the world. There is less opportunity for advancement and more corruption in emerging economies, so I’m focused on setting up operations in less developed countries like Brazil, the Philippines, Egypt, and Indonesia.
Many people in these countries work for minimal wages. With day trading, they have the opportunity to make much more in just 30 minutes a day. When you learn a skill like trading, it can never be taken away from you. I’m also planning to duplicate my success throughout the U.S., Latin America, and Europe.
What do you want to be known for, or what do you want your legacy to be?
Marcello Arrambide: Some of my business opportunities weren’t available in many emerging economies. For example, when I first started to teach day trading in Latin America, most people only traded in markets that are highly manipulated, such as the foreign exchange. Now, most of those I teach trade in futures markets, which is more regulated, transparent, and centralized.
I believe in educating people so they have the best tools to make better decisions. I want to be known as the person who provided tools to those who wouldn’t have them otherwise, the person who gave the little guy a chance to win.
- [LLODO] San Francisco enters ‘purple’ tier, imposes new coronavirus lockdown measures
- [LLODO] 2 hurt after rented red Ferrari wipes out on Chicago expressway
- [LLODO] Louisiana gov speaks out on SCOTUS declining to hear case of pastor who defied coronavirus orders
- [LLODO] This Day in History: Nov. 28
- [LLODO] Charles Manson follower Leslie Van Houten has parole blocked again in Calif.
- [LLODO] Amazon warehouse evacuated in hazmat scare; several employees hospitalized
- [LLODO] This Day in History: Nov. 29
- [LLODO] Seattle-area homeowners report ‘sovereign citizen’ property seizure attempts: report
- [LLODO] Los Angeles County DA’s security officer fires at carjacking suspects near her home: reports