Welcome back to another episode of The Richer Geek Podcast. Joining us today is Anmol Singh, whose journey began at Brunel University in London, where he started his path to success. By the age of 22, he had already amassed a significant fortune. Anmol is a renowned consultant in the Trading and Investing Industry, having achieved great success through his firm, LiveTraders, established in 2015. Under his leadership, LiveTraders has earned the #1 spot in Trading Education for three consecutive years. With a rich history of leadership and appearances in Forbes and the International Business Times, Anmol continues to educate and inspire traders worldwide.

In this episode, we're discussing...

• Start Young and Stay Curious: Anmol began his trading journey at 18, driven by curiosity about the stock market. His early start allowed him to accumulate knowledge and experience, emphasizing the importance of starting early and staying curious.

• Importance of a Trading Plan: Anmol stresses the need for a well-defined trading plan, including entry and exit points. Trading without a plan often leads to emotional decisions and losses.

• Understanding Market Volatility: Recognize that market volatility is normal and driven by human emotions of fear and greed. Long-term investors should avoid reacting to daily market fluctuations.

• Diversification and Risk Management: Allocate the majority of your investments to stable, long-term options like the S&P 500, and keep a smaller portion for speculative ventures. This strategy balances potential high returns with safety.

• Avoiding Emotional Trading: Emotional trading is a common pitfall. Having a predefined plan helps mitigate emotional decisions and keeps you on track with your investment goals.

• Live Trading Transparency: Live Traders offers a unique educational experience by trading live, allowing students to learn from real-time successes and mistakes, fostering a realistic understanding of trading.

 

Resources from Anmol

Twitter | Instagram | Live Traders | Prepping for Success: 10 Keys for Making It in Life

 

Resources from Mike and Nichole

Gateway Private Equity Group | REI Words | Nic's guide