Anmol Singh started trading during his early college years without much luck. After a year or so he discovered a pattern that allowed him to go from 0 to over $10,000 per week in profits. Even though he graduated with a Bachelor of Science Honors in Business and Management, Anmol focuses on his trading rather than looking for a job. To date, Anmol has accrued over 7 figures of profits for him and his investors in trading wins and continues to remain a stock and forex trader. He is also an avid real estate investor with a large portfolio and has funded two other tech based companies Trading Algo Systems and QuickSM – Today Anmol spends most of his day managing funds and working with students of Live Traders which he co-founded in 2014.
How did you develop an interest in stock trading?
I developed an interest in stock trading in my first year of university when I was catching up with friends in my dorm room and we were discussing the markets, since then I’ve had a keen interest in the markets and went straight into trading right from my dorm room!
What are the current initiatives you are working on?
Currently, I am working on growing the Live Traders community, we just launched our own hedge fund where we back our traders to trade our capital. So the recent initiative has been to look for talent or those with an open mind and a willingness to learn how we do what we do. We also launched our Forex Trading division which has received a tremendous response.
Tell us more about www.LiveTraders.com.
At Live Traders we train and educate people looking to start their career as a stock market or forex trader or those looking to simply create some passive cash flow or another stream of income. We also fund some of our traders with our own capital in exchange for a percentage of their profits using a hedge fund model. We have many tools and services to help people along the way, the highlight being our Live Trading room where members can watch us trade the markets live in real-time every day. Currently it’s considered as the best trading room that exists online.
What is your typical week day?
I usually wake up each day around 8-8:30am EST and I start by preparing a game plan for the trading day by building a watch list of stocks I intend to trade during the day. I then share this information with our members in the live trading room. We trade stocks all day, but usually finish trading around 2pm EST. After that I look at my long term portfolio that I manage to see if I need to adjust any of my positions etc. Usually after all that is done, I start looking at the currency Forex Markets and guide our FX traders on what I am looking to do in our Forex Trading room and private signal service. Usually after that I devote my time into my other business which are real estate and Franchising related.
Being a stock trader, how do you find the balance between the risk and profit?
The way we do that is to have smaller losses and bigger winners, which means keeping my reward to risk over 2:1. That would mean, If I intend to risk $1000 on a trade, that’s my worst case loss scenario and then I would keep the winners over $2000. By that ratio, I really only need 30-40% winning trades to come out ahead. Usually we win more than 60%. By that calculation it’s impossible not to make money. Consider our risk on each trade as our ‘cost of goods sold’ and our profit as the net profit. AKA buy at wholesale, sell at retail is the philosophy we use for our trading.
What does success as a term mean for you?
Success means different things to different people. For me it means being settled in my life and having my income exceed my expenses. To do this I have created several different sources of income which I alluded to above, and some of them are passive streams as well. I’d rather have my money work for me rather than me working or exchanging my time for money. Success also means being able to set my own working hours, decide when to take the day off or when to trade. Success to me also is being happy and content with where you are at in your life and being comfortable in your own skin.
Every driven person has his own success habits, what are yours?
My habits are really simple. Having a disciplined approach to my trading and my other businesses. Creating a daily routine which makes every day look and feel the same way which ultimately results in consistency as you know what to expect each day with the same routine. A lot of traders that fail really fail to define their edge and create a set routine. Going back to what I said earlier about statistics, if I do the same thing over and over again with a 60%-win rate and my winners being over 2x my losers, I will come out ahead statistically, whereas most newer traders, jump from strategy to strategy, stock to stock, one trading firm to another which causes them to be stuck in a wheel. If you do random things every day, expect random results.
Do you have a mentor or the person who has significantly impacted your life?
My father is perhaps my biggest mentor as he came from nothing during a time where India and Pakistan separated and there was chaos and riots on the street. He left his house in a part of India which is now occupied by Pakistan. He left everything behind for a new beginning in the New India. No house, no business and no job. He started selling tea on the streets for less than 2c per cup. He constantly kept at it and reinvested into other business even when he had no money for himself. He saved and made enough to be able to provide us the best education and the best of everything. His work ethic continues to inspire and motivate me every day.
What do you think of a failure?
There is no such thing as failure, only feedback. Successful people learn from their failures and focus on growth and improvement. I always say, when you think you have failed, you really have not, you just found a way that doesn’t work. What should a person do next? Try another way. The only time you really fail is when you quit and give up.
Any closing thoughts?
If people have an open mind and a willingness to learn, then I would be happy to work with them if they are looking to start taking control of their own financial future and take control of their investments.