Gabriel Flores 0:00
Hello, everyone, and welcome to the shades of entrepreneurship. This is your host, Mr. Gabriel Flores. Today I'm here with Amal Singh
Anmol Singh 0:09
AMOLED. How are you doing? I'm doing great. Thanks for having me.
Gabriel Flores 0:12
I'm excited because we're talking about this is my first actual trader we're bringing on today we're gonna be talking about some trading. This is also an area I actually like to dabble in every once in a while. I'm horrible at it. I like to dabble. But more or less. Let's go ahead and talk about first introduce yourself, give them a little background. Who are you? Family Education, give them a little background?
Anmol Singh 0:35
No, definitely. So for a living, I trade the stock market as a trader and also an investor. And that's pretty much most of the things that I've done since I started been trading since I was in college and started in 2010. So on my 13th year now, and I also teach and advise other people who want to get into the stock market, either as a full time career or you know, just somebody who's like you dabbling or just want to participate in the market. So I show show them how to do it the right way. Apart from that, I also have a book and also an angel investor. So we have 32 startup companies that I'm like a investor and sell investor for most of them.
Gabriel Flores 1:11
Nice. So yeah, let's, you kind of alluded to it, kind of what you do for a living so let's get into what is live trades.
Anmol Singh 1:20
Yeah, definitely. So uh, you know, I live traders, the way I learned trading trading is one of the hardest businesses to get into. Because a, there's a lot of information, there's a lot of different ways some tell you to read the company's reports, I'm telling you to look at the charts, there's just so many different ways. So I had like a pretty big learning curve. And when I got into trading, it took me like a whole couple years before I made any any money out of that. So then, after I became a successful trader, I teamed up with my mentor who taught me how to trade. And we said, You know what, let's team up and start live traders, where we can teach others how to do it the right way, and eliminate a lot of that trial and error that most people go through. So that's pretty much what we do at live traders is having a curriculum that worked on me as a case study and now using it on others around the world.
Gabriel Flores 2:05
Now for the for the listeners at home that might be unfamiliar. What do you mean by charts? And these things when you talk about it?
Anmol Singh 2:13
Yeah, definitely. So every stock or every cryptocurrency or anything that you're trading or investing in, has a chart, a chart is basically a price history of that instrument, what is done in the past that attracts all the moves in a chart format, showing how the stock went up showing how the stock came down. So that's kind of what charts are they tell us what happened in the past. And then using that data, we make educated decisions based on statistics on what is the likely scenario for the future. So that's kind of what we're trying to predict as traders, and manage our risk accordingly. So charts, that's where they come in, just to see what happened in the past and what might happen in the future.
Gabriel Flores 2:49
And what you mentioned educated guesses, essentially, right? What other opportunities or what other ways sort of listen or be thinking about, they should be looking at companies to make an educated guests on what they think the stock might do.
Anmol Singh 3:03
Yeah, definitely. So you know, anything with trading or investing nothing is a short thing. You know, anybody can say, Oh, you buy the stock is gonna go up, nothing's a sure thing. So that's where I'd say educated decision, where you have your statistics. And the statistics might tell you, Hey, if you take this specific pattern, and then a pattern could be a combination of things that happen on the chart, we'll call it a pattern that we've seen happen over time. So that pattern will have its own odds, like, Okay, this pattern works 55% of the time, and then you know, okay, if it's worth 55%, and even if my winner is a bit bigger than my average loser, than I'm going to make money. So we're trying to just get our odds in our favor. And we don't dwell too much into what the company does, or the management or the CEO, or the fundamental analysis, you know, where you're evaluating the company's reports. We don't do any of that, because there's, it takes a long time to play out for fundamentals. When you're trading, we're only concerned with what's going to happen tomorrow, what's gonna happen next week? What's going to happen in an hour from now? So that's where charts come in and help us make that decision based on those patterns?
Gabriel Flores 4:05
Yeah, that's kind of a great point. You know, I think, sometimes if you're, if you want to get in deep with it, you certainly can. But there are certain you mentioned patterns, what what kind of patterns are there in charts that people might not see?
Anmol Singh 4:20
Right, so sometimes you see a stock isn't going anywhere, it's just going up and down in between the level who goes to, let's say, example goes to $10, comes back down to 950. And it goes to 10, again, comes back down. So now it's just in a range. So that's what we call a range. So a way to trade a range would be well, every time it comes to the bottom of the range, we buy the stock. When it comes to the top of the range, we sell the stock. That's just one example of a potential pattern. And another pattern is also when the stock is just going between two price points, let's say between 10 and 910. A nine is just going sideways is going consolidating is what we call it. So when it finally breaks above that consolidation gets above 10 Now it's at 1050. Then we're going to buy because in likely it's going to find New Level maybe at 12. So that's called a breakout trade where it's breaking out of a range that the stock has already been in for a while.
Gabriel Flores 5:08
Nice. Now you also have written a book, prepping for success. Tell us about that
Anmol Singh 5:14
book. Yeah, so you know, trading for me is actually one of the biggest personal development journeys that I encountered. You know, like, I didn't even know I thought I had everything together in my life. A little did I know when you're actually coming to trading and you're risking money every single day, it can bring out the worst in you, it could bring out all the your limiting beliefs, all the things that you've been stuffing away from the side. And for me, trading has been like the biggest spiritual journeys that I've encountered working on my own emotions, my own self. So I wrote a book that the book has nothing to do with trading. But it's all the things that I've learned over the years of my trading and controlling my emotions. Because, you know, research has proven that trading releases the same hormones of dopamine and serotonin, the same zone, same ones people get when they gamble, when they're doing any other things. Now we're trading, we're feeling those hormones every single day, in real time for many hours during the day. So learning how to control that has been the biggest thing. And what I've also learned is everything that I've learned are applied into my training applies into other areas of your life. Because as you know, the saying goes as you do something, how you do everything, how you do some things, how you do everything. And that's one of the things that I learned. So this book was a way for me to write down all the things that have, you know, got me the success in my life, and it can help other people in their areas, even if they're not a trader or an investor. So that's kind of what the book is all about.
Gabriel Flores 6:35
Yeah, it's interesting, because it's, uh, you know, stocks or stocks are such a an emotional ride, right? Where money money tends to be tied up, you can certainly get kind of caught up in those moments where, oh, man, I just, I just lost, especially if you're day trading, you know, for the folks now, first and foremost, folks that are listening, this is not financial advice. We're not trying to give you an financial advice. We're just talking strategically about various patterns and trading strategies that seemed to have work. It's almost like going back to the statistics days, if you take stats, 243 or 244, right, we're going to try to get the best probability out of our trade. And so that's all we're talking about. And so, so I just wanted to kind of make sure we plug that in there real quick. Now, you know, you also kind of mentioned this investment now, what are some investments or trading mistakes people should avoid?
Anmol Singh 7:28
Yeah, I think the biggest mistake that I see people making all the time is chasing hype, chasing the next big thing next big fad, you know, because it's kind of playing on the same primal human emotions, we're trying to get rich quick, you know, never works out, never works out. So I think I've seen that over the last few years, we've seen that, you know, increased dramatically, where people are just chasing whatever people are talking about on Reddit, or talking about on Twitter, you know, we saw that on AMC with GameStop, with Bed, Bath and Beyond. We saw that with Dogecoin, who saw that with all these cryptocurrencies recently. And what are people trying to do, they're not making an educated decision, they didn't study it, they don't even know what they're buying half the time. But they're buying it based on what other people told him to do. And that's the biggest mistake ever, because you know what everybody online is going to tell you buy this, here's you should buy, they're never going to tell you when to sell. So you're the one who gets left holding the bag. So don't follow the hype, don't follow what's going out there, do your own research, do your own due diligence, by and really know what you're trading or investing into. So that's the one of the biggest mistakes I see. And there's many others. But that's kind of the biggest one that people are doing online these days. And it's not going to get them closer to their results. In fact, it's going to move you further away from the results that you're looking for.
Gabriel Flores 8:40
You know, one of the things you mentioned, holding the bag for listeners at home, what does that mean?
Anmol Singh 8:45
So holding the bag would mean, as we've seen recently with GameStop. And stuff where people online, talk about, you know, hold the line, don't sell your shares and all those terminologies I'm like, but the money is only made when you sell something, or you could buy an investment it could go up in in paper in virtual money in your account, you could see that it's going up, but it's not your money, it could always come back down. So the only time you make money in trading or investing when when you sell something when you exit a position, not by holding it. And that's what happened recently is where people were just holding on because everybody told them what to buy when to buy, nobody told them when to sell. And now they're still holding it whereas Gamestop I think the stock came down from five hundreds to like double digits now. Same thing with a lot of Bed Bath and Beyond where we're double, triple digit stocks now and pennies. And that's what you mean by a holding a bag where you're holding something that nobody else wants anymore.
Gabriel Flores 9:36
Yeah, and that's a very cautionary tale, I think for the listeners as well is Be mindful of who you're following on the Twitter area in the Reddit and the information you're absorbing. Because the great example is wish right and the those individuals that were wished to $69 and getting all these individuals to pump up wish, meanwhile, they're on the back and actually selling the stock making money off of people that they were selling the hype to, as you mentioned, and so just be very mindful of that, folks. Now. Now, in fact, that kind of goes back to like, the knowledge is power piece, right? Understanding the market, understanding the business, is knowledge really power in the trading game.
Anmol Singh 10:22
So you know, knowledge can be power, I like to say like, knowledge is potential power, right? If it's just, if you're just learning, learning, learning, and you're not applying anything, then you don't have knowledge, you have just organized information, information organized neatly, you know all of it. But it's not the true knowledge is when you actually apply it, you know how to use it. And that's the true knowledge, apply knowledge to knowledge. So I think that's one of the things people need to know, difference between having a lot of information, whereas you're going from one video to another one tic tac toe, and everybody's scrolling down all this information. And I'm like, how did you apply that into your life? Again? They're like, Oh, I don't know, I haven't applied it yet. So that goes to show that it's just information. And that is another problem that I'm seeing these days with. Because online, there's so much content, there's so many things you can do. And people get into in that loop of learning, learning, learning, and what are the apply? Not much. So I think true knowledge is applied knowledge. Now, how
Gabriel Flores 11:17
did you get into trading? What was your start?
Anmol Singh 11:21
So I got into it, you know, like, very by surprise, really, because I was in my dorm room, I had no idea that I was ever going to go into this business. In fact, I thought, I'm never gonna go into it. Because I was horrible at math, you know, growing up, so I was like, I have no future in finance. But, you know, I'm in college and in London, where I went to university, they have a system where you have to do a year internship before you can even graduate. So that was the pivotal moment for me where I was looking for internships, all of my friends, people in the dorm room, they all got nice internships, nice jobs. And here I am, you know, twiddling my thumbs couldn't get in anywhere. And I applied from the biggest companies didn't get in anywhere. Then I even applied to startup companies, and guess what didn't get anywhere. So then it dawned on me that, wow, I cannot rely on the system to give me a job or to give me and I can just be sitting here waiting my dorm room a whole year before I graduate. So that's when I said, Okay, I need to find something on my own, I need to do something. And then it was me and one of my friends in university, we realized that there is a society for everything in university, if you want to football as a football society, if you're, you know, you love both as a boating society. I was like, There's no such thing as investment or trading society. That's interesting. So we teamed up, we started that in university trading investing society where we would just meet up for like an hour or two every week, and we just talked about the markets, we'd watch something on TV on CNBC together, we'd read a book together, that's where the seeds were planted, about trading in me. And that's kind of how I got my start just watching a lot of videos, taking a lot of courses, or reading a lot of books, and then more so than that trial and error losing a lot of money before figuring it out. So that was my start in 2010.
Gabriel Flores 13:04
What and kind of taking it back to one things you've said too, is absorbing that education and applying it. Right. I think from an entrepreneurs, entrepreneurship perspective, that's kind of the difference, right? You can read as many books and take as many classes as you'd like. But if you don't apply, it doesn't really make sense, right? Yeah. Now, now, you kind of mentioned, you know, just variations of success, what does success look like to you? What does a successful trading day look like?
Anmol Singh 13:40
So, you know, success, like, trading success and life success, I define it differently. So there could be individual success, where you could have financial success, you could have trading success, but true success, as I define it, is having the harmony between all of those areas, right? Because if so, if you're really, you know, wealthy, you make a lot of money. Yes, you're financially successful. But what if you're broke? You know, your relationships are a mess. Are you really successful? Not really, right? Or what if you make a lot of money, but your health is a disaster? Are you really successful? Not really. So to me two successes, you know, being focusing on each and every area, right? So you focusing on your finances, your community, your relationships, your health, your mindset, your spirituality, and then being okay with where you're at in each of those areas, and then finding your fulfillment in the journey of improvement, like you constantly getting better. And I think it's not a destination. Success is a journey. It's not like I get here and say, Now I'm successful. Well, there's always something in your life that you have to focus on. Like for me right now, health is a big focus because for the longest time I was chasing the money, dream, the business dream and traveling all over the world, and it kind of ruined my health. So I don't really consider that successful. I could say financially successful but not successful in the big realm of things. So that's kind of what I mean by true success is focusing on each of those areas and creating harmony. So you're living in fulfill life and not just one directional.
Gabriel Flores 15:03
Now what did yeah, let's talk about what did you do like before, you mentioned kind of traveling the world and doing all that, what were you doing during that time.
Anmol Singh 15:11
So during that time, you know, because trading is one of those professions that I were blessed to just do it from anywhere in the world, as long as you have your equipment, and you're taking your stuff. So in my bag, you know, I just took two laptops, a monitor, keyboard, mouse, and wherever I am in the world, Airbnb just set it up and you trade. So I use that as a way to live life where so I'm not stuck. So let's make the most of it. So I was traveling to Dubai for you know, months, then going to Thailand, spending a couple of months there, India, going to London, spending three, four months there. And I was just living in, you know, different pockets of Airbnb ease, and just meeting people and my students all around the world. So that's kind of what I was doing. But then I kind of got caught up in the traveling where you're, you know, just eating out all the time, you're going out meeting people, and then you can look back and you're like, wow, I just really let myself go, you know, put on extra 20 pounds. So I think now it was one of those phases of my life. And I'm like, Alright, let's try to get back to basics in Korean harmony. And what got me here, let's continue to do that.
Gabriel Flores 16:09
Was there ever a moment where you have like, self doubt where you're lost? You know, or you're like, Man, I shouldn't have I shouldn't have done day trading?
Anmol Singh 16:20
Oh, you know, I think pretty much all my first year it was kind of like that many, many nights where I would go into my my washroom, I look at myself in the mirror. I'm like, god damn is this ain't like, you know, is this. All I can do? Is this my potential? Because at that time, when I started out, I was having a very tough time crossing that six figure barrier in my first couple years. And I was like, is this it? Like I didn't, I thought about Wall Street and all the you know, the things that you grew up watching? And you were like, is this all I can do? And yes, there was many nights where I thought about quitting, I thought about giving up. But then that's where I think surrounding yourself with community, and not a like minded community because, well, drug addicts, I'm like minded, right? But we need a growth minded community. So I had people around me that were constantly pushing me, they were supporting me, they were like, Hey, we're not gonna give up. Let's try this. First, let's try to tweak your trading this way. Let's optimize it this way. And I think it's really good to have people like that in your corner. And that's kind of what kept me going through that self doubt.
Gabriel Flores 17:17
Now, how do you you're kind of building up the live traders brand, how do you market a trading company?
Anmol Singh 17:25
Yeah, so I think, believe it or not, a lot of it is organic. For us. It's been YouTube, YouTube's our biggest source of traffic is just because we put out our long lectures, nobody does that people are focusing on 15 Second, tiktoks. These days, we still put a one hour long lectures every single week. And I think and we just, we don't sell anything, we just offer tremendous value. And I think that's where people really see because you can, if you're a trader, if you've been in the business long enough, you can distinguish between really good marketers, and you can distinguish between people who are actually traders. And I think our audience is very mature, we don't get a lot of those Tick, tock, pretend traders at our community, we get people who've been in the block, they've been trading for two, three years, they've been around the block, and now they finally come to us and majority of its organic Twitter, Instagram, YouTube, word of mouth, people sharing with their friends. And yeah, that's how people find us live traders.
Gabriel Flores 18:17
And so what what, what does live traders do for the consumer? What does what kind of value mentioned value? What kind of value can they expect?
Anmol Singh 18:26
So the biggest value is that we have a live trading room, which runs every single day, Monday through Friday, from 9am Till, you know, till the market closes. And we live stream every single day of our trading. So every single dollar I've made or lost, it's been on a live stream, right? So people get to see that in real time. And I think that not only adds an element of credibility, because as you can see me do what I'm teaching you live every single day. Without fail, I haven't skipped a single day since the last like six years. So every single day has been recorded of trading. And I think that's the biggest benefit of them seeing it's almost like sitting next to me. And then as a community has hundreds of traders, 1000s of traders in the room every single day, we're all pushing each other, you know, giving words of encouragement when you're doing well. Or if you're not doing well, we're lifting each other up. And I think that is the biggest benefit. Because without that you're not going to make it because you need a community. Because when you're sitting at home, how easy is it to do something really stupid in your trading? And then just close your laptop? Nobody will ever find out. It's all online, right? So you need that accountability, a group of people and that's kind of the biggest thing that we provide, in addition to the courses and newsletters and things of that nature.
Gabriel Flores 19:35
Yeah, what what does a typical day for a trainer look like?
Anmol Singh 19:40
So for me, you know, recently Believe it or not, it's been working out first. Usually I would leave my workouts to later in the day. But now I've made a conscious decision that first thing I do is wake up workout. Come back to my desk at 830 in the morning, grab a cup of coffee and then for 30 minutes I make a list of the stocks that I might want to trade today. Maybe check the news. See what's happening on the markets, right? I'll do that for 30 minutes, I'll make a watch list of stocks that I'm going to be focusing on that day. And then in the chat room, we come on, we review the markets together, we go through, okay, this is what the markets doing before it opens. This is what I think it's going to do. This is the what the patterns are suggesting. We do that for 30 minutes. And then from 930, till about 1130 ish, we'll do the trading, like we're trading stocks in and out all the time, we're looking for some longer term opportunities. Maybe you have some investments that you want to dollar cost average into, we're looking at which ones we can add into which one we cannot add into. We do that during the day. And then that's majority of my day has just been on the chat room all the time and coaching traders and getting on my calls. And then later half the day will just be managing my other projects and other businesses that are not to do with trading.
Gabriel Flores 20:50
And so what what trading advice would you have for the listeners out maybe maybe they're a beginner or maybe a novelist?
Anmol Singh 20:58
Yeah, I think the biggest thing is a don't rely on anybody don't build your trading based on I'm going to follow this person, don't even follow me, right? Don't like learn how to do it yourself. That's imperative like that's number one is learn how to do yourself know what you're actually doing, because it's your money. And nobody cares about your money more than you, right. And there's people who can pretend to care about your money, but you kept most of your money. So first one, a study, learn how everything works, learn what you're doing, why you're doing it. And then second advice is, you know, find a mentor, right. And a mentor needs to be somebody who's already has the results that you have. And not only that, but they are able to teach it in an effective way that you actually get it, right. And then three is to make sure that they have the same style that you want to get into. Because short term trading is not for everybody, despite what people might say online. There's long term investing, there's short term investing, there's trading. So day trading is not for everybody, it is a quick thing. It's almost like a sport. So first, determine that and then find somebody who aligns with the style that you're trying to get into. And that would be the best thing I could do. And then the third thing, lastly, I would say is, make sure you're focusing on your mindset, because trading is an amplifier, that will bring out the best in you, it'll bring out the worst in you. So know that you can be objective. And that's why I feel like x poker players make for the best traders. By God. This trader was on World Series of Poker, risking millions of dollars on ESPN. He's in our community now trading, and he's doing extremely well at it. Why? Because know when to hold them know when to fold them. Right? You can hold the losing stock wishing it comes back up. Oh, it'll come back up. It almost never does. You need to need to know how to cut your losing trades.
Gabriel Flores 22:36
It's very, very, very true. Now Now what? For listeners at home, they might want to get more information about live traders. Where can they find you on the web? Where they can they find you on the social media sites? Where's your all your information at?
Anmol Singh 22:49
Yeah, definitely. So if people who are interested in learning how to trade, they could go to live traders guide.com They can get my free introductory course and a free guide. That'll give you a good understanding on where and how to get started. And obviously the websites that live traders.com where you can find more information. As far as touching base with me, they could find me on Instagram or Twitter, I have the same same social media handles on both their delta 90, D LT A and INETY had it long time ago. I don't want to change it now. But it's a different a whole different discussion. But that's where they can find me in my book is you know on Amazon and prepping for success.com.
Gabriel Flores 23:28
Perfect. So again, folks listening, just kind of a quick plug for the newsletter. If you subscribe to the shades of e.com newsletter, go ahead and visit the shades of e.com the newsletter will have this information on it. So please again, they'll have information about the prepping for Success book it will have a lie traders.com and link, so please subscribe to the newsletter at the shades of e.com. Now, is there any last words you would like to say to the listeners? Before we go?
Anmol Singh 23:57
Yeah, I would just tell the listeners to you know, take all the information as we were talking in any podcasts you listen to even this one, see what can actually apply. And before you move on to anything else, like try to implement on just one thing you might have learned. And that's the biggest piece of advice and the last thing I would just say is be a person of integrity. Do what you said you're going to do and then do it when you said you're going to do it and watch how your life dramatically changes
Gabriel Flores 24:22
at Mall seeing live traders. Thank you so much for your time. I really do appreciate this opportunity. learn quite a bit I'm very interested again in trading so this is very interesting conversation. For those listening please feel free to follow me at the shades of E on all the social sites. You can also subscribe to the newsletter at by visiting at the shades of e.com Thank you and have a great night