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Can you really make $40k a month trading FX when you're 21 and have dropped out of college?

21 year-old FX trader claims to make $40k a month

Can you really make $40k a month trading FX when you're 21 and have dropped out of college? Forgive us for sounding skeptical, but it sounds unlikely. On the other hand, Navinder Singh Sarao....

The latest 20-something self-confessed day-trading prodigy is Elijah Oyefeso, a 21 year-old who is 'senior portfolio manager' at Gecth & Co, a company that seemingly teaches people how to trade. Oyefeso has come to the world's attention after his, 'gold Lamborghini and Bentley Continental' were written off in a '$695k crash' at the weekend. "Afterwards, I just started laughing," said Oyefeso, who reportedly dropped out of the University of Buckingham in the U.K.to trade full time.

Oyefeso's Twitter feed reveals that he has a busy social calendar which includes visiting schools and going to church. Therein, he also lambasts people for studying economics at university and earning $70k a year. He also says trading isn't as simple as it looks: "Everyone thinks it's easy, they don't know the amount of work you put in. The sleepless nights and long days."

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Goldman's Gap (Euromoney)

Average revenues per deal at Goldman Sachs are 65% higher than at Morgan Stanley.

Small cuts (Financial News)

Neither Deutsche Bank nor Credit Suisse are expected to cut their U.S. investment banking operations by as much as originally predicted.

Air Miles (Financial News)

Mark Mobius has retired. He spendt 250 days a year travelling and accumulated over 30 million air miles.

Resignation (Bloomberg) 

Matt Malloy, who joined J.P. Morgan in 2010 from Goldman Sachs as head of institutional solutions and advisory, has resigned.

Lee's Legacy (J.P. Morgan) 

J.P. Morgan has set up a $1m scholarship fund in memory of dealmaker Jimmy Lee. It will help children from deprived families in New York.

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AUTHORSarah Butcher Global Editor

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