#175: Stock Trading Mastery: Insights & Strategies
LISTEN AND SUBSCRIBE
Apple Podcasts | Google Play | Stitcher | Spotify
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
+ Read the transcript
Mike Stohler
Hey everybody. Welcome back to another episode of The Richer Geek Podcast. Today we have Anmol Singh
He's in the finance area but you know, we're going to talk about a little bit of difference about trading stocks, we're going to talk about some of the mistakes that everyone makes, including myself. He's fueled by an unyielding spirit, he's embarked on a quest for greatness. Graduated high school seeking knowledge and venture at the prestigious Brunel University in London. And the audacity of his youth propelled him forward to massive fortune at the tender age of 22. Congratulations. He's been a business leader. He's been on Forbes International Business Times. And now he's a guiding light in the murky depths of the trading world leading a formal team of experts at Live Traders, we will talk about that and his book. How are you doing, Anmol?
Anmol Singh
I'm doing great. How are you?
Mike Stohler
Good. So get us started, you know, your background? How did you make the money at that tender young age? And what got you to where you are today?
Anmol Singh
Yeah, definitely. So I mean, I got into the stock market when I was 18 years old, I was in my dorm room. And I think at some point, every guy is curious about the stock market. They always wonder, why is it moving? Who decides where it goes? You know, like, I was really curious about that. So I spent a lot of time, you know, in my dorm room, just studying, reading a lot of books, taking a lot of online programs and courses and really diving into a deep, and then in college has started a club called the Trading and Investing society. Now, you know, after many years of graduating, it is still running a thriving society. So we started that bunch of guys, you just meet up once a week and talk about the stock market, what we learned, share ideas. And that's kind of where the spark started for me in the stock market. And I was like, really got into it, started writing articles for Yahoo Finance, and different websites when I was like 18-19 years old, getting paid for those research articles. And that's primarily why I tell people don't trust what you read online, probably written by a college student like me. At that point, I collected a lot of money and saved up some money there, then I started trading loss pretty much most of my money very quickly. Then the little bit I had left I joined a prop firm, which is basically a company which hires traders, gives them the company's money, and exchanges that take a percentage off everything you make. So I started trading for the company, traded for them for many years, kind of worked my way up in the firm, got up to you know, a pretty high level where I was trading millions of dollars for their money in exchange for 30%. So that's where I got my start in the stock market, did that for about five years, from 2010 to 2015. Worked with the company. And then when they got bought out by different firms in 2015. That's when I decided to start my own live traders. But I was like, I don't need to give them a percentage anymore. I might as well just start my own thing now that I've got my own capital.
Mike Stohler
Yeah. So there's a lot of questions that we have. It seems like when you read the articles and things like that, you know, somebody sneezes in the world, "Baam!" you know, there goes the stocks, and it seems pretty volatile. What can you tell our listeners just like, why is it all of a sudden crash? It seems like it wasn't even that big of a deal. Someone just said something wham, you know, goes down. It seems pretty volatile. What can you say about that and kind of reassure people that, you know, there is a place where the stock market and you should diversify into the stock market still?
Anmol Singh
Yeah, I think just like anything else in life has its ebbs and flows, right, nothing goes up in a straight line, nothing goes down in a straight line, everything will have an ebb and flow. And that's the volatility in the stock market. Just like your heartbeats are not going to be flat, otherwise, you're dead, it's going to be ups and downs. So stocks are the same way they're gonna move up and down, just how they are. Because some people take profits, some people buy more, some people get fearful, they start selling than the others look at it as a buying opportunity. So even though it dropped, it came right back up. So the stock market is driven by human emotion of fear and greed, to primary emotions that drive the market. So for the majority of the people, he asked us the question, Am I a short term trader doing this for a living? If so, yeah, you learn how to read volatility, or learn how to ride the volatility. But if you're somebody who's like, I'm investing in the stock market, I'm not a trader, and I have another job, I have another business, but I want to invest on the side. Well, if you're investing on the side, then you have no business looking at the day to day gyrations. If it's a long term investment, and you intend on holding it for 5-10 years, then you really don't have any business looking at the stock prices every single day, and just driving yourself crazy. So save yourself the trouble. If you are an investor, you got another job, got another business, just invest in the stock market. And historically, I mean, we've seen how much the stock market dropped in 2022. And then we came right back up every single time the stock market is higher than where it was 10 years ago, every single time no matter how many crashes we got, you know the stock market still at the highest.
So that's what you have to realize as an investor is the markets are created in a way that they will consistently go up. They might always have their ups and downs along the way. But it's still an upward sloping trend. So I think you just have to learn how to write that as an investor, and not be that person selling on that volatility, because you just got freaked out, and then you miss out when it comes right back up again.
Mike Stohler
Yeah, you know, that's a good point. I actually know somebody that said, "Oh, my God is going down." And they sold everything. And I'm like, "God, you just lost all of your money, because you panicked", you know, and it's just, it's hard. You know, you see your wealth going down. I also know someone that said, Yeah, I was a millionaire once. And I just wrote it down into the ground. You know, it was some of the tech stocks, you know, back in the, I think it was in the 90s, or something like that, you know, they just, they were that tech millionaire and wrote it down, waiting for it to come back up. And, you know, what are some of the biggest mistakes as far as investing and trading that you think that people make? And how can they avoid some of those, you know, so let's say, you know, I'm a young guy, it's making good money. I want to get into it. What's some of the advice you can give people?
Anmol Singh
Yeah, number one, like have a plan, just like you wouldn't enter a new business without a business plan, don't get into trading or investing without an investing plan, right? So you need to know what you're going to do before you do it. Because when we are in the middle of a trade, now, our emotional brain is taken over, we're thinking emotionally, because we're looking at our account going up and down. We're not making logical decisions. That's why the plan, the logical plan, has to be created before you get into the stock or before you get into investing. And knowing what's my expectation, right, and then having maybe levels, okay, if the stock goes up to here, I'm going to take my profit. Or if it goes down to here, I'm going to cut my losses and walk away. Like you need to have a plan. And that's kind of what we teach people is that you need to have, what's your entry going to be? Where are you going to get out? If you're right, and when you're going to get out if you're wrong. Because the money is made on the way out, you have to sell investments unless you're holding, like S&P 500 or NASDAQ. Yeah, sure, you could let it ride forever. And that's a great investment. But when it comes to stocks, you have to take advantage of when stocks get ahead of themselves, right? I mean, we saw so many stocks, like Zoom, Roku, a lot of these that were like $500,000 a share, and now they're back down all the way to double digits, some even single digits, and majority of them are never going to come all the way back up again. So with the stock market as a whole is what you can hold on forever without looking at it. But when it comes to stocks, you need to take advantage of those spikes. So have a plan. But when you're gonna get out when you're right, when you're gonna get out when you're wrong. Don't trade emotionally, that's the biggest mistake people make is emotions. And emotions only creep in when you have no plan. So you're just looking at the stocks emotionally, right. And then the other part is don't get caught up in the hype. Just because you read something online, or somebody said something on Reddit or Twitter and you're like, "This is gonna be the stock, I found something that hedge funds with millions of analysts, millions of sellers, they didn't know they didn't find it, I found it by reading something online." I mean, you're not that smart. So, you know, don't make that mistake. Nobody knows anything in the stock market. We're all trying to make educated decisions based on our plan. So have a plan, don't trade emotionally, have exit points in mind, so that the stock is going down. And you know, just holding it all the way to zero, learning to get out because there's also opportunity cost that people don't realize that money could have been used for a different investment. So if it's going down, cut your loss, small loss, they're moving to a different stock, that is going to be a good one. And that's an opportunity costs because people always ignore it. Well, yeah. But you know, if I just keep holding that stock eventually comes back. I'm like, Yeah, but it took three, four or five years to come back, that money could have produced so much more, if that was parked somewhere else. So people need to realize, you know, a lot of those different factors.
Mike Stohler
Yeah, and it is tough, especially when you're in your 30s 40s. And you have a long period of time. It's not like you're getting ready to retire. In four or five years. I think it's funny, go to my bank, there's a 22 year old kid who says, "Hey, you should invest in a fund 2034/2043, or whatever it is." And I'm like,"You know, that's not me." What could you tell people about that? Should they invest in funds? What portion of the portfolio and then individual stocks? How did they make that determination? Because it seems safer. I'll just throw it in a mutual fund or some other type of fund it's safer, or should I ride some of these tech stocks that are up and coming?
Anmol Singh
Yeah, so I would say everybody needs to have a, you know, diversification sort of allocation, meaning, let's say if you have an example $100, right. So I would say 80 of those dollars should go into something like the S&P 500 using ETFs. Like SPY, QQQ, right?Like NASDAQ just put your money there. 80% of that should all in my opinion, be in the stock market. And then sure, you could say, Alright, I'm going to use 10% or even a smaller percentage and then 10, maybe 5%.
And that I'm going to speculate. I believe this company is going to be the next big thing, right? Put a little bit of 2% in it, put 1% in it, right? Put some of your money in it. So you're still involved, you feel like you're doing something, you're listening to your intuition. And you can still feed that little bug that we all have finding the next big thing, but you never want to have all of your assets in there, right? I mean, learn from a lot of different people, like, just a few years ago, we had the whole WallStreetBets thing with GM, EMC. Everybody's like, hold the line, diamond hands, keep buying more. And look what happened there all the way back down. You didn't take any profit on that. That was bad. So I think, you know, leave some room for speculation in your account, but make that like a really small percent of 99% of money, I think should be going directly into the stock market. Because that way, you don't have to pick stocks. You don't have to look at it every day, you can let it ride trusting that every 5-10 years, it'll be back up to new highs, right? I think that's the best thing to do. For most people. I don't think most people should be trying to pick stocks. Because, you know, even if you end up picking the big ones like Microsoft, Apple, Google, you know, you're still roughly gonna get the exact same return, just buying one thing. So less commissions, less fees, less money, your transactions you're doing in your brokerage account is better for most people. Now, if you're somebody like me, who does this for a living, who does this actively, every single day? Yeah, then I can afford to not do that. And, you know, try to maximize my returns by getting in and out a lot of stuff. But then that's the job. Like, that's something I do every day. So for the majority of the people it is just best to buy the stock market and forget about it.
Mike Stohler
Yeah, it does seem like a safer bet. You know, I just bought a Lucid and I'm like going, "Man, you know, should I do it? Should I do it?" You know, because these are these new EV stocks. But you know, it goes down to bucks goes up a little bit, you know, knots down. I don't know why they're writing. And what are you seeing with some of these new EV stuff, whether it's the Rivian, the Lucid, you know, Tesla's something else, you know, I'm in there, man, if I had believed my gut 15 years ago, and but that's one of those things, you know, do I take that chance or not? What are you seeing in some of these up and coming trends, you know, like the EV market? Are they gonna survive? Is the world going to embrace them? Or is it going to be like anything else? There's going to be 2000 people that try and only five that make it, you know, in your opinion?
Anmol Singh
Yeah. I mean, I think in the end, when it comes to EV, just by Tesla, you know, like, there's no point trying to pick a second or third because the difference is way too much. Right. I mean, I think Tesla last quarter delivered, I don't even remember the number, but it was a huge number, right? It was 60,000-70,000, whatever cars in a quarter that they delivered. And the second best was Rivian, which was I think 40,000. So the margin between the first and second place is way too big, right? It's too huge. Tesla has got away too much of an advantage, too much of a lead, it's hard to catch up. And that's why you're seeing even companies like Lucid and Rivian and other companies now adapting Tesla's charging ports. Right, so all EV cars in the future will have Tesla's charging port just because you can't compete if you buy another EV. There's Tesla superchargers everywhere, but maybe not for their own car. So I think the competition is way too much and the EVs by Tesla, because they're so ahead, they have the pricing power, they're already starting to cut prices and lower prices, and the other guys can't keep up. I think Lucid last time I checked lost $200,000 for every car that they're selling, right? There's a huge number. So by that measure, then they're not going to last very long. I think Rivian is the only one that's probably going to end up lasting. And obviously, in China, we got BYD, we got XPENG, you know, but again, those are Chinese cars that are going to have a hard time making inroads outside of Asia, right? I mean, Toyota was only like Japanese cars that ended up making it. But in China, it comes with a connotation of not having a quality. So the rest of the world might not embrace it as much as they have embraced Tesla, because Tesla talks or exudes quality. And it's Elon, it's a personality brand as well, just like and it's nothing wrong with that. Every good brand is a personality brand. Apple was a personality brand, Steve Jobs, right?Microsoft with Bill Gates, Steve Ballmer was a personality brand. So Tesla is Elon is the personality brand. And I think Tesla is more than just a car company. It's a solar company. It's a battery company. And think about this. Think about how British Petroleum ExxonMobil controls all these gas stations. But in the future everything is going to be electric cars. Tesla is going to the gas stations that will no longer be there. It'll be replaced by superchargers that Tesla owns the whole system. So they're gonna monopolize pretty much everybody charging their cars no matter which EV, you buy, you get to charge it on a Tesla supercharger, you're gonna take a cut out of that. So I think there's a lot happening in the background. I still don't think it's too late. I still think it's not too late to invest in Tesla. If you think about it, is it late compared to 5-10 years ago? Yes. But is it late when we look back at it?
And you're 20 years from now, when it crosses a trillion dollar market cap, then we're going to kind of wish that we had gotten in today.
Mike Stohler
Yeah, that's true. Now how about cryptocurrencies have taken a hit, you know, with the whole SPF and all this sort of stuff, but they're starting to kind of come back up. They're kind of brushing that aside, how about investing in that in the market and the different font? I'm too old, I think, to figure all that stuff out, but how about and how can cryptocurrencies help or hinder your goals as far as diversification?
Anmol Singh
Yeah, so I think crypto, I wouldn't classify it as an investment, per se, it's still in the speculative bucket, it's still too early. We're still like the early stages of the internet. And what people think about today might not be the future tomorrow. Because as we know, technology is moving at such a rapid pace that what's a new technology today might not be new tomorrow, and the disruptive technology might get disrupted by a better technology. So it's hard to really predict. So I still think making investments does your research, but it should still be a small percentage of your overall investment portfolio. Maybe the five 10% Maybe not more than that. Again, I'm not a believer in Bitcoin. I'm not a believer in that, although I do have investment in crypto, but I have an investment in alternative crypto, it's called Algorand. So I hold that and that's the only crypto I've invested in. But that again, that is an investment long shot for me. When I hold it, see what happens five years from now. Because just like the early stages of the Internet, what happened was in the.com, bubble, you remember, all the Internet stocks were going, anything that had a dot.com went up, right? And then they all crashed. And then after that came the few winners, Microsoft's, Google's, Amazon's, Apple and everything else dumped. So that's what happened with crypto. This 2020 Everything was going up, anything crypto, blockchain NFT, Gorilla, right? Everything's going up and then everything crashes. Now out of this winter, we'll come out with a few winners. Now in my opinion, Bitcoin is the AOL of the internet. At first it was a great technology. It was a great idea. Everything was great. But it was first but then better technology comes in faster technology comes in like Facebook, Meta and then rest of them don't exist anymore. Like even Google tried social media in the back of the day, you know, all these things, none of that exists, then comes better technology. So the same thing will happen with crypto, I think Bitcoin is the AOL of it, it was the first great idea. But now there's better, faster technology like Algorand. And that's eventually going to happen because financial systems of the world will be powered on blockchain going forward. That's indisputable. That will happen, right? Now, only question is, which one is it going to be? That's pick your horse kind of a thing. Now, based on the research I've done based on people I've spoken to at Wharton, business school, University of Pennsylvania, for professors actually involved in cryptography, even person, Sylvia McCauley, who was quoted in the Bitcoin white paper by Satoshi also talked about him. So he started Algorand. And so I'm kind of investing in that vision. And the scalability of it is already happening. There's a company called Travelex. So airline tickets are made on Algorand NFTs, where right now, if you buy an airline ticket, you can travel, guess what you lost your money, unless you cancel with your flight with NFT tickets, what you could do is you could sell your ticket to me, and the name will transfer instantly, right? It's because it's NFT, the ticket is NFT. And I could go ahead and sell a ticket that I bought from you to somebody else, and they could still travel in that. And so that's already happening right now. Right? And that there's another business Lofty AI and SliceSpace, that is tokenizing real estate, right? So if I have a property, and but I need money, or whatever I can list on that site. And that property if it's let's say a million dollars could be split into a million tokens of $1 each. So everybody could be invested in that property. And then you don't have to wait till the end of the month to get the rent payment on it. Rent will be distributed in real time, every single day on blockchain technology. So that's already happening on Algorand. So I think that's where I see the future. And if you listen to BlackRock CEO, Larry Fink, what he just said last week, is he also thinks the future is going to be tokenizing. Every little thing, everything is going to be tokenized. You buy a Rolex watch, it's going to come with an NFT that can authenticate that that watch is legit, right? So all of that is going to happen. And I think Bitcoin is too slow. It's too expensive for any of those things to ever build on it. So it's going to be those newer technologies like Algorand.
Mike Stohler
Yeah, that's very interesting. Way above my head but last time I went to a real estate conference, I started seeing the crypto and the NF T's and all those sorts of things. There's a big line at those booths and it was just amazing. Now let's talk about your company's LiveTraders. Give us a little rundown of the website and what it is exactly that your team does.
Anmol Singh
Yeah, so started Live Traders in 2015 as a way to guide other people looking to get into the stock market. Because there's a lot of information out there online. There's a lot of misinformation online.
A lot of hype online, created by people who are really good at marketing and making videos, right? Learn how to do this, make a million dollars, get rich, you know all this stuff, but I'm like, that's not how real markets are. It's work. It's just like anything else, you got to develop your skill. It's not like a get rich quick thing. So that's why we started it is to give people the reality of it. And that's why the name comes in Live Traders. Because we actually trade live in front of everybody every single day. So win or lose, people get to see it in real time of losing money, they'll see it, they'll make good money, they'll see it, then they can see how I handle my cells when I make money. But more importantly, how I handle myself and I'm losing, that's really important. So I think that's why we named it live traders, because not everybody else online is willing to put their name on the line and trade live in front of everybody. And for me, every single day I've traded for the last eight years has been a live stream, there's records of every recording of every day that I've traded. So I think that's the difference maker. I started this with my business partner, Jared Wesley, who was actually the guy who taught me how to trade when I was young, so that he was a part of the different firm that I joined. So he taught me how to trade and then in 2015 We teamed up when that company got bought out to start this. So I told him, You taught me I became great. Why don't we just take that same method you used to teach me and teach other people? You know, I think that's kind of how the vision for that started.
Mike Stohler
It's livetraders.com, correct?
Anmol Singh
Yes.
Mike Stohler
It's a very interesting concept where, you know, most of the time, it's the big fancy ads and the big fancy, you know, do this and for you to actually So Ian, are there videos, or are they just live streaming? Watching you trade? Is that how it works?
Anmol Singh
Yeah, so we've got a few different things. So we've got obviously, we've got courses that are, you know, video lessons on demand, watch, anytime, comes with the manuals. So those are all courses when you really want to learn the nitty gritty of how we do what we do and why we do it. And then the live trading room is our membership that people join in. And then they can watch me trade live every single day. So the way that works is I'll come on, let's say at 9am. And I'll trade live in from everybody till let's say 1045. And then 1045, I'll get off my business partner, Jared will come on from 1045 till 12. And then maybe at 12 o'clock, a different coach of ours would come on, maybe a student of ours that we've elevated to a coach status might come on to share his experience. And we're just doing a live trading. And while we're trading, we're talking them through why I'm trading this, why am I getting into the stock? Where am I looking to exit what's my exit points? So we're kind of guiding them through the process. So they can take what they've learned in the course. But now see it in real time, because it's very easy to show slides of charts, they just do this. But it's very different when the markets are open. So that's what we try to take the book learning now and show them in the actual live application of that in the live chat room. And then we have newsletters too. For newsletters for people who don't want to trade actively every single day. Maybe they just want to buy a stock and hold it for like a week. Then we got that newsletter to where I call that swing trading. I'll trade the stock and I'll be at it maybe being there for a week, maybe two weeks. So I'm not getting in and out every single day. And that's much easier for people who have a job or something to just follow along. Rather than looking for the every single day trades.
Mike Stohler
What's the biggest thing you know, if I click and watch one of those videos? What's the biggest thing that you want me to get out of? Watching you live trade? Or, you know, looking at your videos or newsletters? What's the one thing that you say, Mike, if you get anything if you if you learn anything, it's what?
Anmol Singh
It's robotic indifference, like being unemotional about your trading mind. So it's simple as just like, you know, you mentioned a lot of your listeners are computer programmers are into that stuff. You know, if you remember, if you're a coder, then you know there's like If This, Then,That, right? That's what we do in trading. If this happens, then we do this. If this happens, then we do that. So and then just robotically following that rather than I think this is going to be this, oh, you know what? The stock is going down. But let me hold on, maybe it'll come back up. Maybe let me buy more than average, my deck. No, none of that robotic indifference. Follow the system as its laid out. And you'll get the result as it's intended to be done. Because we back tested this thing for hundreds of years. That's what statistically shows, this is your edge. Just like a casino has an edge. Right? We have an edge in trading and we just have to consistently stick to that edge. Just like a casino is not going to complain. If you go in and win a million dollars today. They're not going to complain and be like, Oh my God, you just want a million. They'll be like, You know what, keep playing the play. Because they know in the long enough timeframe, they have this edge that they'll get the money back. And that's what we're trying to do in trading. We try to be at the casino.
Mike Stohler
Yeah, that's very good. Let's move a little bit over to your book that you have. It's called Prepping For Success.Tell us a little bit about the book and where we can find it.
Anmol Singh
Yeah, so the book is available on Amazon, Barnes and Noble, Walmart or the audiobook, which just came out as well. So it's on iTunes, Audible, and things of that nature. So the book has nothing to do with trading or investing. It's literally just a personal development based book, things that I've learned along my way.
What I've learned is trading was the biggest personal development journey I've ever embarked on. Because you bring the best out, anybody can also bring the worst out in you, if you're emotional or if you think emotionally, you get jittery. And then you kind of learn where all these things are coming from. And that kind of got me on a different path of discovering myself. So that's kind of how I wrote this book is I hired a lot of coaches, a lot of mentors. And along my journey, I went to a lot of spiritual retreats. And I did a lot of workshops and seminars, and really tried to work on myself. So I learned a lot of different things. So originally, I wrote this as notes to myself on, okay, here's the things that I need to do, based on everything I've learned, here's what I need to do to get the success in my life. And I executed on it, and I got the success that I wanted in my life. So that's when I decided that you know what, I'm going to take these notes that I wrote for myself, and then some are converted into a book format, so that other people can benefit from it. And learn from that, because I know that not everybody is going to have hundreds of 1000s of dollars to spend, like I did on my personal development, right and go through 1000s of hours and you know, emotional processes and journeys to find, really discover myself. So I know not everybody has the time and energy. So if I can distill it down, it's a short read. Perfect. So that's kind of what I tried to do with the book.
Mike Stohler
And you know, a little bit feeding off of that. One of the things that's in your topics that really caught me is creating the perfect day, you know, setting your stage for data success. And there's three questions to ask yourself when defining your values, and I think it kind of feeds on it. Talk to us a little bit about that.
Anmol Singh
Yeah. So you know, I try not to overcomplicate things when it comes to life where, you know, there's a lot of journals online, you could buy, where you do this, do that. I mean, like, that's just extra work, you know. So for me, it's just like I write down in the, in the evening, the night before, I'll write down, okay, tomorrow, these are the six things I need to do. If I just do these six things, I'll consider it as a great day as a win, right, and then I'll write those six things down. And my only goal when I wake up is to get those six things done. That's it, nothing else matters at that point, because I just write down and you don't want to write down small things like do the dishes, you know, it's not going to move the needle in your life. So what are six actions you can take right now that will move the needle closer to that goal, right? And then I write those things down. And then when it comes to values, like just notice, what do you value in your life? Right? What do you value in your life? And the value is demonstrated by what you're doing with your actions, right? I mean, I could, like, for example, one of the things that I noticed about myself was like, I kept talking so many years about health and all of that, but then I kind of look at it myself. And I'm like that, but I'm not really living the right way. But I'm not really living healthily anyway, you know, and because over the time, over the years, you chased the business dream you money dream, the habits that you probably had, when I used to work out everyday eat healthy, that kind of dropped, I wasn't really working out, I wasn't eating healthy. So I noticed that and I was like, why is that? Because I realized I was valuing my business and money success, a lot more than health. So that's when you realize, okay, I want to value health. So then you create that, okay, health is my top value, right? And then you start acting on it. So my top six things will have workout, right, it will have a lot of those things in it, because that will get me closer to my goal that will move the needle. So that's just one example of how you structure your day. And then you schedule those things, schedule those activities, those six activities should have a corresponding time block on your calendar. If they don't, you're not going to do it.
Mike Stohler
Yeah, that's really good advice. And I think we get so wrapped up in the day to day working and making money. And it's spending time on your cell phone, your family, charities, you know, all these different things that will enrich your life, but has nothing to do with money. And I think that's really, really good. Before we leave, is there anything else that I have not spoken about that you'd love to tell our readers before we leave?
Anmol Singh
No, I would just tell your listeners to you know, sort of take some time to yourself, maybe this weekend, or whenever you're listening to this, and start to think about what my life demonstrates is my value right now? Right? And what am I really valuing? And then ask yourself, what do I actually want to value what the values actually want to cultivate? Right, and then making sure you write those things down as your top six activities so that next day, you're starting to move closer to that, and then notice where you're falling or lagging behind your word. So your integrity is doing what you said you're going to do. And then do it when you said you're gonna do it. That's integrity. So if you said you're going to do something, and he didn't, there's a lack of integrity. So notice, just notice where they're coming from. Acknowledge that there's a lack of integrity here. Try to live up to your word, because if you don't believe in yourself, you don't believe in your own word. How do you expect your clients? How do you expect others to believe in you? And that's something to ponder.
Mike Stohler
Yeah, that's really good. And ladies and gentlemen, again, it's Anmol Singh, livetraders.com and also PreppingForSuccess.com or are you on LinkedIn or anywhere else?
Anmol Singh
Yes. So I'm on all platforms LinkedIn, Twitter, Instagram, my username on Twitter and Instagram is @deltaninety. D-E-L-T-A and N-I-N-E-T-Y, don't ask me why. I had a long time ago just kept it the same, but that's kind of the username. I'm most active on Instagram and Twitter. That's where you could find me.
Mike Stohler
Fantastic and well thank you so much for coming on The Richer Geek and we hope you have a wonderful day.
Anmol Singh
Thanks for having me was great chatting with you
The information, statements, comments, views, and opinions (collectively, “Information”) provided in this podcast are not intended to be and should not be construed as financial, economic, legal, accounting, tax or other advice. For our full disclosure, click here.
ABOUT ANMOL SINGH
Anmol Singh was born in Delhi, India, where he developed the patience and persistence that would define his career. After high school, he pursued higher education at Brunel University London with a strong determination to succeed. It was in his dorm room that Anmol began his journey into trading, diligently working to save enough money to move to America after graduation. By the age of 22, Anmol had already established himself as a successful trader, entrepreneur, and author. His expertise lies in making logical, fast decisions in the volatile stock market. Today, Anmol leads a team at Live Traders, where he shares his knowledge on executing trades, analyzing various scenarios, and mastering emotional control in high-stakes situations.