Most people think that they know a lot about financial trading but they really don’t. The little that people know about it often comes from movies or online ads. The fact is that these sources don’t accurately show you what happens in the real trading world. That is at least according to the #1 Trading Consultant and expert in trade psychology, Anmol Singh. Singh has trained thousands of students some of which are now hedge fund owners and money management firms. He is a recognized thought leader in the field of stock trading and trading psychology.
The trading genius started trading stocks and forex at 18 years old. In 2015, he founded the trading firm, Live Traders. The firm has been making headlines since its creation. They have just been voted the #1Trading Education firm for the third year in a row, and they deserved it. Singh is mostly known for helping aspiring traders become great and struggling traders become their best selves. That is because of his deep understanding of the market and trading experience. Here’s what other traders will not tell you about trading, but Singh will.
Psychological and Behavioral Issues are Real
In a world where mental health is already an issue, it is obvious that psychological issues must come up in the finance sector. The problem is that you will not hear traders talk about it. Psychology and behavioral issues are one of the reasons most traders are not making money on the stock market. Your psychological state has a direct effect on the decisions you make while trading. Singh wants to show everyone what trading is really about. He is dedicated to help his students learn to ride the emotional rollercoaster that accompanies trading. You cannot make decisions influenced by emotions.
It’s Not the Most Interesting Job
Singh says that good trading is boring. Watching The Wolf Of Wall Street will have you thinking financial trading is the coolest career to be in, but the opposite is the reality. Singh explains that a big part of trading is repeating a statistical plan worked out mathematically to make you profit. It is also an activity that is done with control of emotions not to be too excited or overconfident. Singh also says that if you are making a stock trade and you are at all excited, you must be doing something wrong. Trading should not be adrenaline-driven but instead, it must be based on logic and reasoning.
You Need Control and Discipline
Did you know that there are pleasure hormones produced in your body when you engage in certain activities? Well, the same hormones are produced if you take a big risk. These hormones are dopamine and serotonin. Risking your money in stock trading produces the same effect as gambling. If not practiced with discipline and control, things can get out of hand and end in the loss of money. Therefore, you need to maintain control to prevent yourself from taking unnecessary risks in a trade.
Successful and profitable trading requires coming up with the right game plan to make money. Making a plan is not much of a problem, the issue arises when it is time to follow through with the plan. You need more discipline and control than most people have to follow a game plan to the end. With the right plan, all it takes is executing to get to success. Statistics don’t lie. If the math says you will succeed, you cannot lose.
Without discipline, it is impossible to produce results with the amount of freedom that comes with stock and forex trading. Today, freedom is only increasing with the success of the internet. Now you can trade from anywhere with an internet connection. With no supervision, you have to be the one evaluating your own actions. Not being answerable to anyone else can lead to some destructive behavior.
Singh says that those who are patient, disciplined, and hardworking will get the unbeatable financial rewards. Those are nothing but proven facts from the experienced trader. He has spoken in places like Brunel University in London UK, Live Traders Live events held in New York, Miami and other podcasts like Entrepreneur on Fire. Today he is spending time working with students of Live Traders while maintaining his real estate portfolio and franchise stores.