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Profile: Davonte Jones; retired at 20

by Sarah Killip - Staff Photographer
Wed, Feb 5th 2020 05:25 pm
Junior Davonte Jones has mastered the practice of trading on the foreign exchange market. He has done so well financially that he may never need to work a job after graduating from The College at Brockport.
Junior Davonte Jones has mastered the practice of trading on the foreign exchange market. He has done so well financially that he may never need to work a job after graduating from The College at Brockport.

There’s a side to junior Davonte Jones that isn’t seen on the basketball court. A side that shows his determination to build an ideal life for himself and his family. A side that shows how his dreams are becoming a reality.

Through trading in the foreign exchange market, Jones may never have to work a day in his life.

The foreign exchange market is a way to buy, sell and trade currencies. Because of supply and demand, the exchange rates fluctuate; by putting in a little bit of money, one can leverage and come out with a lot more if the trade goes right. 

Jones first heard about trading currencies through one of his friends. 

“One of my boys I grew up with, he was just in the bookstore and this dude came up to him and started talking to him about a book he was reading,” Jones said.

The stranger went on about how trading currencies could generate a huge income. Jones’ friend wasn’t slow to share the information. He was intrigued, and soon they were both hooked on the idea of possibly becoming financial gurus.

Jones learned the process of trading through an app called IM Academy. This platform allows individuals to educate themselves through videos, which are posted by mentors. To qualify to be a mentor, one has to have a year of experience and have made at least $100,000 or $1 million in the market. 

“They teach their setups, their strategies,” Jones said. “They are teaching you how they look at the market. It’s like having LeBron [James] teach you how to play basketball. You learn the patterns you’ve got to look for. When they make money, we jump on the same trade and make money too. Anyone can do it, but you pay for the education. It’s $235 to start, and $175 a month to keep the product running.”

There are two sides to making money through IM Academy; the trading itself and generating a residual income. 

“Once you get two people to join, your monthly subscription is free because you’re bringing value to the company,” Jones said. “Once you get a third person, you make $150 a month just for having that person. This compensation plan goes up to seven figures. My personal mentor is a Chairman 25, so he makes $25,000 a month on top of trading.” 

Having only started in April 2019, Jones is currently ranked Platinum 2000, which means he makes $500 a week on top of trading. The idea may sound crazy to some, but Jones had support from his mom. With her encouragement he was able to give it a shot.

“She believes in me,” Jones said. “There was a time I was stressing out about school and basketball and trading, and she was fully behind me and supported me all the way. For what I’m at right now, I’m probably never going to have to work a job. I don’t plan on it. It gives me chills every time I talk about it because people don’t really understand what I’m doing. I’ve never seen this amount of money in my life before. The most I’ve made in a day is $600, and I made it in my bed. Like I was in my bed, literally.”

The process of educating oneself and learning the ropes of the market isn’t as easy as it seems.

“You have to have a bulletproof mindset because people are gonna talk down to it,” Jones said. “A lot of people just came in and quit, they didn’t have the time to learn and trade on their own. You’re not always going to make money, you’ve got to know how to take a loss too.”

Jahidi Wallace, one of Jones’ friends and teammates on The College at Brockport men’s basketball team, agreed  the idea of trading in the market can seem risky, but it has a huge pay off.

“It’s been a great adventure to see the growth from Davonte as he keeps going forward,” Wallace said. “I never had doubts but was very skeptical at first, but then I did my research and went to a couple meetings and realized the worth of it.”

With the wealth Jones has already acquired, at times it can seem unnecessary to stay in school.

“That’s been the hardest for me, just deciding about school,” Jones said. “It’s crazy thinking I don’t have to work and I’m just in school. It’s surreal. I’m definitely going to get my degree, I’ve already made it this far, might as well finish what I started.”

Aside from education, determination and a little bit of luck, Jones feels as if this path he is on is just what’s meant to be. 

“I feel like me and my boy, we just manifested it,” Jones said. “When we were younger, we were always saying we were going to be rich, we were going to be good. We always spoke it. We just spoke our dreams into reality. It gives me butterflies, this is only the beginning.”

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