Raja Raqil Zahur

host of the New York Session live streams

Compiled from 1 recorded interview. Every statement below is drawn from the passage cited beside it.

Raja Raqil Zahur is a forex trading educator and livestream host at Raja Banks brand. Zahur once held a job at a call centre in Pakistan, behind F-10 Markaz. He arrived in Edmonton at age 26.

Early life and background

Zahur says his family has a leather business in Pakistan. He also says a leather shop had been opened in Milton, a small city near Mississauga, and that his brother moved to Ontario. [1]

Education

Zahur received his education at the Peshawar Road branch of Beaconhouse. He says his O-level results included five A grades, and he took Additional Mathematics for his O-levels. He says his A-level results gave him one A and two B grades. [1]

He says he was in university in 2006. He went to FAST to study computer science, and says he first wanted to be a white-hat hacker. He says his interest in computer science faded after the second semester. He completed about seven semesters of university in Pakistan. [1]

He moved to Prince Edward Island after the seventh semester. He says the immigration wait there was about three years, against five years for Ontario. The Canadian university accepted five of his courses, which it treated as about one semester. He was told seven more semesters remained and decided to continue, but says the coursework became boring and he lost interest in it. [1]

Early work in Canada

Zahur once held a job at a call centre in Pakistan, behind F-10 Markaz. He arrived in Edmonton at age 26. He moved to Alberta to work in the oil fields, expecting better pay there. He also bought a one-way ticket and flew to Alberta. [1]

He worked for two weeks at a factory-type workplace and did deliveries for Swiss Chalet. He worked for a drilling company. He was sent to a remote location in Saskatchewan. He says the drilling work was full manual labour. [1]

He says he decided to go back to the oil field. He got a job at a car parts factory. [1]

Door-to-door sales

Zahur says he was told the jobs paid extremely high commissions and were door-to-door sales. He sold water filters door to door, in Mississauga, Ontario. He says he had a confidence problem when he started door-to-door sales, and that his first sale was in January 2015. [1]

He partnered with a friend and opened an office. He says the office hired 20 agents. [1]

Trading and investments

Zahur saw a day trader's trading screenshots shared on Instagram. He opened a trading account with IC Markets. He says a trader's webinar had a $350 entry fee and went over the basics. [1]

He says his thinking was that he would recover his losses, and that once he had recovered he would stop. He invested in QuadrigaCX, a crypto exchange, when Bitcoin was booming. He says his request for a full withdrawal from QuadrigaCX got no response. [1]

According to Zahur, he was caught in an unintentional Ponzi scheme. He says the arrangement paid earlier investors' losses with money from later investors. He says he ran an investment company from 2017 to 2019 that failed. [1]

He says his son was about to be born and he did not want him to enter a life in which they were stuck. He says he had to make monthly payments over two years. He also says he ran boot camps, while in Canada, in order to pay people back. [1]

Live streams and boot camps

He says that instead of going from place to place, he decided to run a virtual boot camp. The virtual boot camp drew around 400 sign-ups. [1]

Product, brokerage and education

Zahur was looking for someone to program a physical device to map MetaTrader hotkeys. He says the capital was his; he sent $1,000, with which another person bought a machine and made five units of the product. He says five of the products came to him; he kept one and distributed the other four. [1]

He says the product took 40 orders in its first week, before the team had the product. The team imported 100 units from China, which sold out on arrival. He says the team spent the first five months on pre-orders that could not be fulfilled, and then decided to order 2,000 units. [1]

He says the product cost $165 and that its turnover has reached almost 1.5 million. He says he then launched a brokerage, and that he has an education platform. [1]

He says that if traders' commissions accumulate to 500 dollars within a month or two, they are given free education as an incentive. He says boot camps now take place in places such as Miami, London and Australia. He says a compliance team makes sure incoming funds are kept in segregated accounts. [1]

Views

Zahur says that in sales you should improvise on the spot rather than follow a script. He says anyone who can sell can never be broke. He also says people who fail often see themselves as victims and do not ask what they could have done differently. [1]

He says greed, the urge to keep trying, and hope lead traders to lose money. He says a human mind can make two emotional decisions in a day. He says he tried one or two trades a day for two months and saw a difference within two weeks. He says the only trading secret he shares is to make one or two trades a day, and that he has started a challenge for the month of October based on one or two trades a day. He estimates that 90% of traders who keep to the rule will see a big change in their psychology. [1]

Zahur does not trade cryptocurrency, because he lost money in it in 2017. He thinks crypto will fall further, because rising prices need buyers with money, and predicts 2023 will be a very tough year. He says diversification is a necessity rather than an option, and that his main worry is that his business could end one day. He says the financial advice he receives is that he should buy land. [1]

He says someone in his industry who harms it should be called out bluntly. He says anyone with more than 50,000 followers can monetise that audience for life. He quotes a saying that you only find out by messing around and experimenting, and tells students to start something online while still at university. [1]

He says a failure of his was not following a backup plan when he began trading. He says he sold weightlifting belts, started a clothing brand and started selling beads, and that all of them failed. He says everything he has done has been an impulsive decision. [1]

Personal life

Zahur says he married in May 2013 during a trip to Pakistan. He has two sons. [1]

He sent his wife to Pakistan in 2021. He says COVID restrictions in Canada were tough when his family went to Pakistan, and that his business was online, so he had no reason to stay in Canada. He says he decided the family should go to Pakistan, for the benefit of the children. He says Pakistan is the best place for children to grow up, and that he can grow more in Pakistan than anywhere else. [1]

Timeline

2006
Was in university.[1]
2013
Married in May during a trip to Pakistan.[1]
2015
Made his first sale in January.[1]
2017
Lost money in cryptocurrency.[1]
2017 to 2019
Ran an investment company that failed.[1]
2021
Sent his wife to Pakistan.[1]

Appearances

DateTitleWhere
2022-10-21 From oil fields to seven figures through forex Thought Behind Things

Frequently asked questions

Where did Raja Raqil Zahur study?

Raja Raqil Zahur received his education at the Peshawar Road branch of Beaconhouse. He went to FAST to study computer science and completed about seven semesters of university in Pakistan. He moved to Prince Edward Island after the seventh semester.[1]

Where is Raja Raqil Zahur from?

Raja Raqil Zahur was born in Rawalpindi. He moved to Prince Edward Island after the seventh semester of university. He says he decided the family should go to Pakistan, for the benefit of the children.[1]

Why is Raja Raqil Zahur called Raja Banks?

Raja Raqil Zahur says the name Raja Banks began from Floyd Mayweather's line "My name is Floyd Money Mayweather". He says people turned it into a joke and that it is now a brand.[1]

What is Raja Raqil Zahur's trading advice?

Raja Raqil Zahur says the only trading secret he shares is to make one or two trades a day. He says a human mind can make two emotional decisions in a day. He estimates that 90% of traders who keep to the rule will see a big change in their psychology.[1]

What jobs has Raja Raqil Zahur held?

Raja Raqil Zahur once held a job at a call centre in Pakistan. He worked for a drilling company, did deliveries for Swiss Chalet, and got a job at a car parts factory. He also sold water filters door to door.[1]

Does Raja Raqil Zahur trade cryptocurrency?

Raja Raqil Zahur does not trade cryptocurrency, because he lost money in it in 2017. He thinks crypto will fall further, because rising prices need buyers with money.[1]

References

  1. From oil fields to seven figures through forex . Thought Behind Things , 2022-10-21.
Show the source passages (100 statements)
  1. He describes himself as the host of the New York Session live streams, where people come to hear his market commentary. Yeah, um, I'm basically the host of the New York Session live streams, where people come and to hear my commentary on the markets.
  2. He says he mainly follows the forex markets. Primarily, Forex markets hoti hain.
  3. The New York session he hosts runs from pre-New York until the New York Stock Exchange opens. Ismein jo time session hota hai, that's pre-New York till New York Stock Exchange open.
  4. He says the name Raja Banks began from Floyd Mayweather's line "My name is Floyd Money Mayweather", that people turned it into a joke, and that it is now a brand. aisa tha, My name is Floyd Money Mayweather. Toh maine bhi usse ke, Raja Banks, Raja Banks. Toh wahan se ek woh naam ek ban gaya aur phir log, logon ne matlab iska ek joke bana liya and now it's just like you know, it's a brand ban gaya hai.
  5. He was born in Rawalpindi. Yaar hum, main paida hua tha Rawalpindi mein.
  6. He received his education at the Peshawar Road branch of Beaconhouse. Aur, um, Beaconhouse se education hasil ki, mainly Peshawar Road ki thi branch.
  7. He says his O-level results included five A grades. Lekin phir O-levels final hua, uska acha grade aaya, 5 A's aaye aur,
  8. He took Additional Mathematics for his O-levels. maine Add Maths rakhi thi O-levels mein.
  9. He says his A-level results gave him one A and two B grades. A-levels mein bhi ache the grade. Mere 1 A, 2 B's the.
  10. He says he was in university in 2006. Aur 2006 mein phir university mein the.
  11. He went to FAST to study computer science. aap fast gaye computer science padhne? Fast mein gaye.
  12. He says he first wanted to be a white-hat hacker. Toh initially I wanted to be a hacker. Right. Like a white hat hacker.
  13. He says his interest in computer science faded after the second semester. Toh second semester se mera interest lose ho gaya.
  14. He completed about seven semesters of university in Pakistan. almost takreeban 7 semesters wahan se humne woh kiye the.
  15. He moved to Prince Edward Island after the seventh semester. 7th semester ke baad we went to Canada. Acha. Theek hai, Canada gaye, udhar ek province tha, Prince Edward Island.
  16. He says the immigration wait in Prince Edward Island was about three years, against five years for Ontario. Time frame wahan pe jaldi mil raha tha. Yes, it was very quick. Matlab wahan pe tha, uh, we had to wait like 3 years, Ontario ka tha 5 years.
  17. The Canadian university accepted five of his courses, which it treated as about one semester. They accepted 5 courses. So they effectively accepted one semester.
  18. He was told seven more semesters remained and decided to continue. yeah, so you have like you know, 7 more left. Maine kaha, okay, chalo theek hai, let's try it.
  19. He says the coursework became boring and he lost interest in it. it started to get boring, monotonous, so I started to lose interest.
  20. He says his family has a leather business in Pakistan. abu ne, uh, hamara jo hai yahan pe leather ka kaam hai, Pakistan Leather International, Bank Road pe hai.
  21. He says a leather shop had been opened in Milton, a small city near Mississauga. Milton move ho gaye the, Mississauga ke paas ek chota sa shehar Milton hai aur woh wahan pe unhone leather ki shop kholi hui thi.
  22. He says his brother moved to Ontario. Mera bhai, uh, woh us, uh, village type province se uth ke woh aa gaya, Ontario aa gaya.
  23. He once held a job at a call centre in Pakistan, behind F-10 Markaz. Pakistan mein maine ek job ki thi call center mein, yeh F-10 markaz ke peeche ek call center tha
  24. He arrived in Edmonton at age 26. 26 years old landed in Edmonton.
  25. He moved to Alberta to work in the oil fields, expecting better pay there. Maine kaha, main Alberta jaunga aur wahan pe oil fields mein na, matlab pays badi achi hain, toh I'm going to do that.
  26. He bought a one-way ticket and flew to Alberta. one-way ticket. Theek hai, one-way ticket. Maine woh ticket li and then I flew over to Alberta
  27. He worked for two weeks at a factory-type workplace. aur maine un 2 weeks is ek factory type jagah thi, wahan maine kaam kiya to twist them all day long
  28. He did deliveries for Swiss Chalet. Swiss Chalet, toh unki main karta tha deliveries.
  29. He worked for a drilling company. ek company hai, mujhe yaad hai, it was called Savannah Drilling.
  30. He was sent to a remote location in Saskatchewan. they sent me off to a location, uh, Saskatchewan mein in the middle of nowhere
  31. He says the drilling work was full manual labour. We used to drill in, drill out, toh manual labor tha, full manual labor
  32. He says everything he has done has been an impulsive decision. Matlab har cheez jo maine ki hai na, it's been an impulsive decision.
  33. He says he married in May 2013 during a trip to Pakistan. Yeah, May mein hum Pakistan aaye aur 2013 May 26th ya 25th. Yahan pe mujhe lag raha hai aapko maar padne wali hai jo aap abhi bolne lage hain uske upar. Yeah, toh us waqt mera, us waqt mera nikah ho gaya.
  34. He has two sons. Mere dono bete bhi gaye Pakistan
  35. He says he decided to go back to the oil field. Uske baad I decided to go back in the oil field.
  36. He got a job at a car parts factory. Toh mujhe car parts factory mein job mili.
  37. He says he was told the jobs paid extremely high commissions and were door-to-door sales. Aur usne mujhe kaha ki these are extremely high paying commission jobs. Right. Toh maine kaha what is this? Kehta hai it's, uh, door to door.
  38. He sold water filters door to door. Uh, hum bech rahe hote the water filters.
  39. He did the door-to-door work in Mississauga, Ontario. Yeh tha Ontario mein, uh, Mississauga.
  40. He says he had a confidence problem when he started door-to-door sales. Toh us waqt na mera ek issue yeh hota tha ki I had a confidence issue.
  41. He says his first sale was in January 2015. Jab woh sale hui, I knew if I can do this once, I can do this over and over and over and over and over again. Woh mahina tha January ka, uh 2015.
  42. He says that in sales you should improvise on the spot rather than follow a script. Lekin no, you have to um kya hai woh? Improvise. Right. You have to improvise on the spot.
  43. He says anyone who can sell can never be broke. If you have confidence in sales, main logon ko yeh kehta hoon, if you can sell, you can never be broke.
  44. He says people who fail often see themselves as victims and do not ask what they could have done differently. Log apne aap ko victimize kar lete hain. Theek hai? Woh kehte hain yaar yeh acha kyun nahi hua mere saath? Yeh acha hona chahiye tha, is tarah kyun nahi hua, us tarah kyun nahi hua. They don't think ke acha what's something they could have done differently?
  45. He partnered with a friend and opened an office. Maine ek dost ke saath partnership ki. Humne ek office humne khola.
  46. He says the office hired 20 agents. Office khola, wahan pe humne 20 agents humne hire kiye. Mere under 20 the agent, uske under the 25 agents.
  47. He saw a day trader's trading screenshots shared on Instagram. Aur uh woh usne apni kuch aisi screenshots Instagram pe share ki hui thi ke he was trading, day trading
  48. He opened a trading account with IC Markets. Maine bhi IC Markets mein account khola.
  49. He says a trader's webinar had a $350 entry fee and went over the basics. Uska ek webinar tha, $350 uski entry thi aur usmein he went over the basics.
  50. He says his thinking was that he would recover his losses, and that once he had recovered he would stop. That was my game, ke recovery ho jayegi. Theek hai? Bas ek dafa mera recover ho jaye phir chhod doonga.
  51. He invested in QuadrigaCX, a crypto exchange, when Bitcoin was booming. Woh money maine daale ek crypto exchange thi us waqt, QuadrigaCX. Aur us waqt Bitcoin ka boom tha.
  52. He says his request for a full withdrawal from QuadrigaCX got no response. Lekin phir maine maine apna full withdrawal ka maine request ki, jo ke uski koi koi response nahi aaya.
  53. He says he was caught in an unintentional Ponzi scheme. Aur main phans chuka tha ek um unintentional Ponzi scheme mein.
  54. He says the arrangement paid earlier investors' losses with money from later investors. Basically, ek ke loss ke upar aap agle se paisa le rahe the, uske loss ke liye aap teesre se paisa le rahe the
  55. He says he ran an investment company from 2017 to 2019 that failed. 2017 se leke 2019 tak I ran this in um investment company jo ke it went hell up
  56. He says his son was about to be born and he did not want him to enter a life in which they were stuck. Mera beta paida hone laga tha aur main nahi chahta tha ke woh ek aisi life mein aaye ke jahan pe we are stuck.
  57. He says he had to make monthly payments over two years. Aur 2 saal ke time mein monthly aapne unko deni hai payments.
  58. He says he ran boot camps, while in Canada, in order to pay people back. Boot camps ka matlab yeh tha ke um tab hum Canada mein the aur boot camps ka yeh tha ke acha, ab maine yeh logon ke paise dene hain wapas.
  59. He says that at the time he had also started live streams in which losses and small wins were public. kyunki tab humne live streams bhi start ki hui thi, publicly losses hote the, publicly chhoti moti wins hoti thin.
  60. He says his live streams had around 3,000 people watching each day. Live streams pe alhamdulillah we had around 3,000 people watching live every day.
  61. He says his aim was to create an ecosystem in the forex industry. mera aim yeh tha ki forex industry mein I need to create an ecosystem
  62. He says that instead of going from place to place, he decided to run a virtual boot camp. Instead of going places to places, let's do a virtual bootcamp.
  63. The virtual boot camp drew around 400 sign-ups. Ab us virtual bootcamp se 400 people signed up.
  64. He was looking for someone to program a physical device to map MetaTrader hotkeys. I am looking for someone to program a physical device to map hotkeys of MetaTrader.
  65. He says the capital was his; he sent $1,000, with which another person bought a machine and made five units of the product. Capital sara mera um mera hoga. Toh um usko maine 1000 dollar bheje, jisse usne ek machine li, usne usse uh paanch magic keys usne banayin.
  66. He says five of the products came to him; he kept one and distributed the other four. Toh woh paanch uh products mere paas aayin, ek maine khud rakhi aur baaki chaar jo thin, I distributed them.
  67. He says the product took 40 orders in its first week, before the team had the product. First week, 40 orders. First week. And you didn't have the product? We didn't have the product.
  68. The team imported 100 units from China, which sold out on arrival. China se humne 100 units import kiye. 100 units import kiye. The day they landed, sold out.
  69. He says the team spent the first five months on pre-orders that could not be fulfilled, and then decided to order 2,000 units. Pehle paanch mahine we were working on pre-orders. Fullfill hi nahi ho rahe the. Haan. Theek hai, paise toh chhodo, woh fullfill hi nahi ho rahe the. Uske baad humne kaha acha yaar, let's order 2000 units.
  70. He says the product cost $165. Ab yeh product thi 165 dollars ki.
  71. He says the product's turnover has reached almost 1.5 million. aur abhi tak iska turn around hua hai almost like 1.5 million.
  72. He says he then launched a brokerage. Toh then I launched my uh brokerage, I mean in markets.
  73. He says he has an education platform. iski um education platform hai ek, Market Fluidity naam hai uska, uska platform hai ek
  74. He says that if traders' commissions accumulate to 500 dollars within a month or two, they are given free education as an incentive. agar woh commissions 500 dollars tak accumulate ho jaate hain within the month, two months, just because you are trading, as an incentive, we will give you the free education.
  75. He says boot camps now take place in places such as Miami, London and Australia. when we do bootcamps now, we go to like, you know, Miami, London, Australia
  76. He says a compliance team makes sure incoming funds are kept in segregated accounts. Compliance team hoti hai, they make sure ki jo funds aa rahe hain, they are kept in segregated accounts.
  77. He says someone in his industry who harms it should be called out bluntly. Main bolunga, you have to be blunt. Theek hai, agar aapki industry mein koi banda sahi cheez nahi kar raha, he is destroying the industry, you have to speak up.
  78. He says he sold weightlifting belts, started a clothing brand and started selling beads, and that all of them failed. I sold weightlifting belts, failed that, ek maine clothing brand start kiya, woh bhi fail ho gaya, maine beads wagera start ki, that also failed.
  79. He does not trade cryptocurrency, because he lost money in it in 2017. Nahi, cryptocurrency nahi karta. Cryptocurrency yaar, uh, mera loss hua tha 2017 mein.
  80. He thinks crypto will fall further, because rising prices need buyers with money. I think it's going to come down more because for crypto to go up, you need people with money to buy it.
  81. He predicts 2023 will be a very tough year. I think 2023 is going to be a very, very tough year.
  82. He says diversification is a necessity rather than an option. to jo diversification hai, woh ek option nahi ban jaati, woh ek necessity ho jaati hai.
  83. He says his main worry is that his business could end one day. ki yaar ye business kal ko band ho gaya to main kya karunga? Constantly. This is the major worry I have.
  84. He says the financial advice he receives is that he should buy land. meri jo financial advice aati hai, woh yahi aati hai ki bhi aap zameen lein.
  85. He says anyone with more than 50,000 followers can monetise that audience for life. Jis jis, jis jis ki 50,000 se zyada following hai na, aap usko kar sakte hain monetize for life.
  86. He says greed, the urge to keep trying, and hope lead traders to lose money. Greed, theek hai, uh, lalach hota hai, ek hota hai ki theek hai, try again and again and again aur ek hope hoti hai. Jo hope hoti hai na, hope pe log mar jaate hain.
  87. He says a human mind can make two emotional decisions in a day. a human mind can make two emotional decisions in a day.
  88. He says he tried one or two trades a day for two months and saw a difference within two weeks. let's try one or two trades a day for two months. Sirf do mahine ke liye, theek hai, agar do mahine ye kaam na kiya to then I'll go back to my old ways. Do mahine, within two weeks, I saw a difference.
  89. He says the only trading secret he shares is to make one or two trades a day. secret ek hi hai. One to two trades a day. Hmm. That's it.
  90. He says he has started a challenge for the month of October based on one or two trades a day. Aap one to two trades a day, abhi humne ek challenge start kiya hua hai aur challenge ye hai ki you have to suffer for the month of October.
  91. He estimates that 90% of traders who keep to the rule will see a big change in their psychology. if you stick to one or two trades a day, if not 100%, 90% you see a huge change in your psychology.
  92. He quotes a saying that you only find out by messing around and experimenting. If you don't mess around, you're not going to find out.
  93. He tells students to start something online while still at university. Yaar main to, uh, main to sabko yahi bolta hoon ki in university, start something online.
  94. He says a failure of his was not following a backup plan when he began trading. mera ek failure ye tha ki jab maine trading start ki to maine apne backup plan ko maine follow nahi kiya.
  95. He sent his wife to Pakistan in 2021. 2021 mein, 2021 mein maine wife ko bheja Pakistan.
  96. He says COVID restrictions in Canada were tough when his family went to Pakistan. Mere dono bete bhi gaye Pakistan aur us waqt Canada ke yeh halaat the ki covid tha fresh aur Canada mein restrictions bahut tough thin.
  97. He says his business was online, so he had no reason to stay in Canada. mera kaam saara online hai. I have no reason to stay in Canada.
  98. He says he decided the family should go to Pakistan, for the benefit of the children. Humne Pakistan jaana hai, bacho ki behtari hai.
  99. He says Pakistan is the best place for children to grow up. Pakistan se behtar jagah bacho ke liye koi bhi nahi hai, bade hone ke liye.
  100. He says he can grow more in Pakistan than anywhere else. jitna main grow Pakistan mein kar sakta hoon na, utna main aur kahin shayad hi kar sakun.