Ten Keys to Making It In Life, From a Successful Stock Trader

In this episode of the Really Simple Investing Podcast, Anmol Singh talks about his background in trading, the products he likes to trade, his approach to trading, and his book, "Prepping for Success: Ten Keys for Making It in Life". He also discusses the three different styles of trading he uses - day trading, swing trading, and long-term investing. Anmol Singh is the author of "Prepping for Success: Ten Keys for Making It in Life" and has been in the trading industry for 13 years. He started trading at 18 years old and has been trading US stocks and options on them, primarily based on technical chart patterns. Anmol Singh, is the founder of Live Traders, and divides his trading into day trading, swing trading, and his investment account.  In the interview, Singh emphasizes the importance of learning, research, and finding the right mentors to become a successful trader. He distilled everything he"s learned over his career into ten fundamental keys for making it in life, which he shares in his book, Prepping for Success. The book has a call to action in each chapter, and Singh believes that if readers apply those calls to action, they will see results. The most critical key to success, according to Singh, is integrity, meaning doing what you say you"re going to do when you said you"re going to do it. Singh also emphasizes the importance of taking action and not getting stuck in a learning loop, being a lifelong learner, and surrounding oneself with people who already have the desired results and paying them to get close to them.  Singh"s Live Traders company offers a live trading chat room where he trades live every single day. He also offers courses, seminars, mentorship programs, and coaching groups for people who want to go further and get started in the stock market. Singh recommends that traders should not follow what he does but rather learn from his actions. He suggests starting with his free two or three-hour video course and hundreds of hours of free trading lectures on his YouTube channel.  Singh uses fundamental analysis to determine which companies he believes in for his investment portfolio. He uses two questions to make investment decisions: is the company going to be more relevant or less relevant in the next five years, and are more people going to be using it or fewer people going to be using it in the next five years? He believes that Tesla will be more relevant in the next five years due to their full-service driving capabilities, solar panels, and new products like the optimists and cyber truck.  Singh also places covered call options on some of his long-term stocks, like Tesla, Costco, and BlackRock, to increase income. Singh recommends swing trading as an easier style for people who have no desire to be a day trader. Singh"s model has beaten the market for the last five years in a row by a good margin, even during last year"s market downturn. Singh believes that mindset is half the battle in making money, and his book and resources aim to help traders develop the right mindset. Timestamped Chapter SummaryAnmol"s background and how he got started in trading (0:01:02)The products Anmol likes to trade and his approach to trading (0:02:07)Anmol"s three different styles of trading - day trading, swing trading, and long-term investing (0:03:05)The stocks Anmol holds in his long-term investment account (0:03:48)Reinvesting dividends to get shares to grow (0:04:33)Anmol"s approach to technical trading and indicators (0:04:39)How Anmol uses technicals to determine market bias (0:05:08)The role of human emotions in technical t Learn how to make investing simple for anyone and get on a path toward wealth.