A teenage school drop-out who built a million-pound cryptocurrency trading business has said reading just three books “religiously and to the letter” has underpinned his success.
Sami Loyal, aged 19 and from West London, said the first book, The Success Principles by Jack Canfield, which he read aged 15 was a recommendation from Bill Gate’s reading list.
The second and third books – both about financial trading – propelled Sami to start bitcoin trading and to launch an online trading analysis business.
“By spending around £15 on three books I’ve been able to create a million-pound business’ from when I was aged 15 to 19,” said Sami who dropped out of school aged 17 before taking any A-levels.
“These books are absolutely behind everything I’ve achieved, from changing my mindset to one where I knew I could achieve my dreams, to then teaching me the process to follow to get there.”
Sami is the latest in the line of ever-increasing ‘Generation Z’ teenagers setting up their own business, which has increased eightfold in the past decade according to research last year.
The rise from 500 in 2009 to more than 4,000 now has been driven by tech company start-ups, said financial services provider OneFamily.
Sami, who started YouTubing aged 8, says he found school “boring”. And with ambitions of being a millionaire felt what he was learning had no relevance to the skills he needed.
Despite being a model high achieving student the self-confessed “geek” and “outcast” dropped out aged 17 before taking any A-levels.
“I’d always wanted to quit school but I was sensible and knew it would be stupid to just drop out before I’d made enough money,” says Sami.
“I needed to de-risk and for me this was to have at least £100k in the bank to cover the rent, bills, a car and other expenses for three years.”
By 14, Sami had built a YouTube channel reviewing the latest tech gadgets such as new mobile phones.
He used just £28 to start a business managing talent agents handling the sponsorship of over 80 YouTubers which raised £1,200 a month giving him £200 profit on top of his £20 pocket money.
This is also when Sami read the first of three key books – The Success Principles by Jack Canfield.
“I asked myself why it was that Bill Gates was so successful. I found out that one thing he does each day is read,” says Sami.
“So I looked over his list of recommended books and the one I thought suitable was The Success Principles which was about how an aspiring person goes from where they are now to where they want to be by following 64 timeless principles.
“This book was life-changing. To read at such a young, impressionable age in chapter one that you should take responsibility for everything in your life blew me away.
“I hated school so the book made me think that I needed to take responsibility for my future.
“Against the wishes of my family I knew I had to make my YouTube career and ambition to live the lifestyle of a Wall Street trader my only plan – and commit everything to it.”
Sami taught himself how to trade in bitcoin – and aged 15 turned £300 into £100,000 in just 12 months through trading, YouTube advertising and sponsorships.
To improve his trading skills Sami read first Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by American trader John Murphy, dubbed “the father of inter-market financial technical analysis.”
And then Market Wizards by author and trader Jack Schwager.
“When I only had £100 I used to recite mantras in the shower about being successful and how much money I could make,” says Sami.
“These two books emphasised to me key trader psychology factors – such as don’t trade with too much money and don’t over-react to a loss.
“But what has got me to where I am now is that I followed the advice in these three books to the letter. I studied them religiously.”
Sami now invests his time in trading, and sharing his skills online to subscribers of his videos, analysis and insight through his company brand Forflies.
“Self-belief and accepting the truth about who you are and what you can achieve is so powerful,” says Sami.
“I remember the first time I earnt £22,000 in just one day through trading. I knew I was going to get it, I just had to reach for it.
“I remember sitting up in bed, overcome with emotion. But thanks to the books and the inspiration of seeing other YouTubers smashing it online I knew it was possible for me to run a business as a teenager and become a millionaire entrepreneur.”
Aside from spending his money on travelling and cars, including a Porsche, Audi convertible and a Tesla, Sami has bought his mum her dream car, an Audi Q5 and pays the rent and bills for the house her shares with her.
He said: “Even now I always make sure that I’ll have enough money to put food on the table and somewhere to live for at least a year if things suddenly change for me.
“But I’m just at the beginning of my entrepreneurial journey with hopefully many years of successful business ahead, so while I’m making money I’m going to enjoy it while I’m young.”