Popular forex trader and online personality Onyango Tate has opened up about the person who introduced him to trading and changed the way he viewed making money.
Speaking during an interview with Every Other Time With Eric, Onyango recalled meeting a classmate who would later introduce him to trading.
“After that I found a friend mwenye alikuwa classmate,” Onyango said, explaining that the friend showed him trading and introduced him to the business.
When Eric asked who the friend was, Onyango identified him as Ken Lord.
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The encounter, he said, became an important turning point in his financial journey.
He initially thought trading was a scam.
Before meeting Ken Lord, Onyango said he had heard about trading but did not understand how it worked.
He admitted that his lack of information made him suspicious of the practice.
“I thought it was a scam. I thought it was like a scam because I had no information about it.”
According to Onyango, Ken Lord then invited him to spend time with him so that he could see how he traded.
“He showed me his portfolio,” Onyango recalled. “Aliniambia niende nikae na yeye nione how he is doing his things.”
Seeing how his classmate operated made Onyango reconsider his earlier opinion.
Seeing the lifestyle changed his perception.
Onyango said he was shocked by what he saw and began wondering whether there was more to trading than he had initially believed.
At the time, he said he was struggling financially.
“Hio time ndio nikae na elfu tano kwa mfuko ilikua ngumu. Nilikuwa nimesota.”
The contrast between his financial situation and what he was seeing from Ken Lord pushed him to learn more.
Explaining what he trades
He said his approach involves following trends and analysing the movements presented by the trading platform.
The discussion also touched on the public perception of trading, with Eric noting that many people view it as either a scam or gambling.
Onyango said he understood why people held that opinion because he once thought the same.
“Even me, I was saying it is a scam, not until you make money out of it.”
Five Common Types of Trading in Kenya
Trading takes different forms, and Onyango’s comments came as he explained that he trades options, including binary options.
In Kenya, some of the better-known forms of trading include forex, stocks, cryptocurrency, commodities and options.
Forex trading involves buying and selling currencies such as the US dollar, British pound and euro, with traders attempting to benefit from changes in exchange rates.
Stock trading involves buying and selling shares in listed companies. In Kenya, this is commonly associated with the Nairobi Securities Exchange (NSE), where investors can trade shares of companies such as Safaricom and KCB.
Cryptocurrency trading involves buying and selling digital assets such as Bitcoin and Ethereum. Prices can move sharply, making it a higher-risk form of trading.
Commodity trading involves assets such as gold, oil and agricultural products. Traders seek to benefit from changes in the prices of these commodities.
Options trading, which Onyango discussed in the interview, involves contracts whose value is linked to an underlying asset. He specifically said he trades options and binary options.
