118: Going From Part-Time To Full-Time Trading - Paul Singh

118: Going From Part-Time To Full-Time Trading - Paul Singh | Trader Interview

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6 жыл бұрын

118: Going From Part-Time To Full-Time Trading - Paul Singh | Trader Interview
Check Out Bulls On Wall Street Trainings: bit.ly/2zykWYu
Show notes: www.desiretotrade.com/118/
In episode 118 of the Desire To Trade Podcast, I interview day & swing trader Paul Singh. He came on the podcast specifically to discuss his transition from part-time to full-time trading.
Over the years, Paul has developed the skills required to trade in multiple markets. In addition to swing & day trading, he has entered markets including options, futures, and stocks.
Topics Covered In This Episode
An awesome quote on fear & worry 2:00
How Paul turned $5,000 to $200,000 trading in law school 3:20
“Lightbulb moments” in Paul Singh’s trading career 7:04
What it takes to go from part-time to full-time trading 14:30
A big pitfall to avoid as an aspiring part-time trader 26:28
How Paul Singh got successful in multiple trading styles 27:40
Two big keys to trading success 34:20
Share-a-trade (Paul shares his trading methodology) 35:38
Top routines for part-time and full-time traders 40:10
Paul’s post-trading routines 46:10
More About Paul Singh
Paul has been trading since the late 90s internet boom. After blowing up 2 accounts after a 200k run up during the boom, he got serious around the mid-2000s.
After completing six years of serious part-time trading around a job, Paul transitioned to full-time trading and has been a full-time trader since 2012.
In 2014, he was approached by his former student Kunal Desai (interview here) to run the swing trading service at BullsonWallstreet. Paul continues to personally mentor select traders.
Forex Trader Community (Facebook Group): bit.ly/2esoMYj
// About Me
My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
What you must know: I'm all for trading foreign exchange, but I think freedom is much more important than time spent in front of your computer.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at.
// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
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Пікірлер: 59

@DesireToTRADE 6 жыл бұрын

TIMESTAMPS: An awesome quote on fear & worry 2:00 How Paul turned $5,000 to $200,000 trading in law school 3:20 “Lightbulb moments” in Paul Singh’s trading career 7:04 What it takes to go from part-time to full-time trading 14:30 A big pitfall to avoid as an aspiring part-time trader 26:28 How Paul Singh got successful in multiple trading styles 27:40 Two big keys to trading success 34:20 Share-a-trade (Paul shares his trading methodology) 35:38 Top routines for part-time and full-time traders 40:10 Paul’s post-trading routines 46:10

@JaskanFactor Жыл бұрын

one of the most helpful guests ever

@prithvinath9631 Жыл бұрын

Awsm interview … loved it.. thanks

@pitashsahoo114 5 жыл бұрын

Nice explained

@JESS-CH 3 жыл бұрын

Phenomenal interview, thanks for sharing Paul 🍻

@DesireToTRADE 3 жыл бұрын

I'm super glad you liked that interview!

@KamalHarrassePositive 4 жыл бұрын

a video Full of Values thanks a lot Guys

@giorgioanastasios4734 2 жыл бұрын

Finally. Someone with a good story. Of winning early

@mitchiarikov2614 Жыл бұрын

Great video, thank you!

@DesireToTRADE Жыл бұрын

Glad you liked it!

@mikelamay7875 6 жыл бұрын

9:00 great stuff! always enjoy consuming Pauls wisdom!..

@DesireToTRADE 6 жыл бұрын

Yeah, wisdom on stop losses! Glad you enjoyed the advice, Mike!

@KandMe1 Жыл бұрын

Risk management, trade psychology + a good strategy

@gabecanady7650 Жыл бұрын

100%.

@ouchthathurted3945 5 жыл бұрын

I believe paper trading is a must for at least a year or two, then once you get consistent, through the recent bear market or bull markets, you can start funding an account with however amount, you do not need six figures, unless you are going in without any experience of what the market is, never put money in the market, until you can prove to yourself that you are successful for at least a year.

@DesireToTRADE 5 жыл бұрын

That makes sense! Thanks for the comment!

@sjl1327 5 жыл бұрын

This video might have changed my life... uh oh... now its left up to me

@DesireToTRADE 5 жыл бұрын

Glad you liked that interview!! Time to take action indeed 💪📈

@ramkyr8286 6 жыл бұрын

Alternative streams are must to feed daytrade.

@DesireToTRADE 6 жыл бұрын

Absolutely, same for any type of trading!

@AJ-wp3pw 3 жыл бұрын

Paul, what is the name and contact info of the day traders' statistician that you used? I want a session with him!

@strahildimitrov2806 6 жыл бұрын

WOW that video amazing. I`m now just on that time of my trading 8:20. Not giving up, but to know from someone gone true it, that I`m in the right direction! (y)

@DesireToTRADE 6 жыл бұрын

Thanks for the comment, Strahil! Keep up the good work!

@PaulSingh1 6 жыл бұрын

Strahil Dimitrov thats great Strahil! Keep at it and keep me updated with how you are doing

@chiradip24 6 жыл бұрын

Awesome video. did you happen to interview Kunal?

@DesireToTRADE 6 жыл бұрын

Absolutely! It's right here: kzfaq.info/get/bejne/l7F-nJOgzs3eXWg.html

@liztrader5469 4 жыл бұрын

Great interview, thanks! I've been paper trading for 2 years, practicing in sim, playing dip buys, longing, shorting, watching the tape and Level II, tracking my trades in Excel, using formulas, and importing them in Tradervue. At night I review my trades' charts at different time intervals seeing where I could've had better entries, and reviewing my live trades OnDemand, and watching the tape. My main issue is my bankroll. I will be starting a part-time job soon, which I held previously, but, unfortunately, I loathe it. I am applying for FT jobs, but don't want to work FT. Do most traders work FT? Unfortunately, I will not have 300 to 500k to play with, how much at a minimum do you recommend? I use tight stops. Thanks.

@DesireToTRADE 4 жыл бұрын

Why not finding investors when your trading is more consistent? That would increase your capital easily! Here's a playlist on that: kzfaq.info/sun/PLwmpbNUnTt6jQ1PzzgkhLPnHHrhqOCnOX

@liztrader5469 4 жыл бұрын

@@DesireToTRADE Thanks. I don't have any licenses. I would feel more comfortable trading my own money.

@dabaws4665 3 жыл бұрын

@@liztrader5469 Have u thought about doing prop firm? Cuz u aint gona be making living off forex, unless u have alot of money

@liztrader5469 3 жыл бұрын

@@dabaws4665 I don't trade Forex. No.

@AdamSmith-vq7do 5 жыл бұрын

How many months I must profitably trading as part time trader if want to be full time trader??? Now I have saved money for two years life without job.

@DesireToTRADE 5 жыл бұрын

That depends on many factors... how long have you been trading your strategy and what were the results?

@AdamSmith-vq7do 5 жыл бұрын

@@DesireToTRADE Hi, I am traded my strategy on SIM 5-6 years, now I trading LIVE three months every single day minimum one trade a day. Back tested is 10 years ago, is profitable on any market where is volume. So question is how many months to be part time live trader before move to be full-time trader, I don't want spend 8+1 hours in office with my regular job and another 2-5 hours with trading. As I said I have saved money for two years of live with no regular job.

@DesireToTRADE 5 жыл бұрын

What's more important than the # of months is the phases of the markets you went through. If you traded through a drawdown and recovered, that's good

@razzyp3999 6 жыл бұрын

Interesting Etienne A Jack of all trades! Might work for him but not for me! ..Interesting interview none the less!

@DesireToTRADE 6 жыл бұрын

Yes, it's absolutely possible to develop more trading styles, but it has to be done over time ("over time" is the keyword here!) Thanks for the comment, Arthur!

@PaulSingh1 6 жыл бұрын

I certainly do not consider myself a jack of all trades sir . . .

@kirankumar-pu2nx 6 жыл бұрын

I just watched the video and i really agree to that you are not Jack all but Jem of all. You rightly mentioned that master one at a time... Thanks for your advise in the end.... Question and Test every thing also do not blindly follow the conventional wisdom but adapt. Great Video, i loved it.

@DesireToTRADE 6 жыл бұрын

kiran kumar, glad you liked the interview!

@ryang93 Жыл бұрын

@@DesireToTRADE I’m C I Bob cv C o B Oh. Boo if I ou I Co I Phil giving i I I Big I I I Give

@eyeservantez 5 жыл бұрын

Good video but there is a implicit contradiction, You said you must have six figures to start yet you've also said you made $200,000 off 5,000 without knowing a thing. Just taking that into account should prove that if you really know what you're doing you can make a large profit. Thank you very much for your opinion. I still got some other value off of it.

@DesireToTRADE 5 жыл бұрын

You can make it... but keeping it is a different thing.

@HappyChessMate 5 жыл бұрын

Also, you need to be aware that their account is not verified and you have to just take everything for granted. Another aspect is that many of the people interviewed on this channel are selling trading courses, which is a question mark. What if they engaged into trading, they failed(not a sustainable monthly income) and then they thought on switching to selling courses? When you win, you get into survival mode and heads down trading. I'm not questioning the fundamentals/principles explained in the interview, but are in no way enough for a sustainable month over month account.

@amberline4583 4 жыл бұрын

I dont think that you need six figures to start i think you can start with $5000 then add to your account and work your way up.