Paul Singh is experienced trader who has been trading since he was in college. He’s traded stocks, options and futures, but now only trades stocks.He started trading during the dot com boom and quickly earned a ton of money. He was living the high life, like owning a huge penthouse where he called professional athletes his neighbors. That was, until the dot com bubble burst, and he had to start from square one.
During the interview, he talks about the light-bulb moments he’s had that caused him to make changes to his trading, helping him gain sustainability and consistency. He also talks about his transition in full time trading, why traders need to be careful not to micromanage positions and how to be a better swing trader.
Don’t think just because you’re a day trader that you won’t get something out of this interview too. Paul is actually very active on an intraday timeframe as well.
What’s Covered in This Interview:
- Details of Paul’s early years, including the highs and lows
- Why Paul kept pushing even though he blew up three trading accounts, and lost hundreds and thousands of dollars
- Challenges Paul faced when he went trading full time
- What Paul feels is the biggest mistake traders make when going full time
- Small and subtle changes that turned into the greatest improvements in Paul’s trading performance
- Why Paul emphasizes adaptability and the need to evolve with market conditions, and why he had to do this recently
- Why it’s important to be prepared, and creating a game plan before entering a position
- Paul’s opinion on stop placement
- Why swing traders need to be careful of micromanaging
- Why Paul uses a “set it and forget it” mentality when it comes to trading
Links and Resources:
- The Market Speculator – Paul’s blog, which is updated regularlyT
- Part Time Trader Program – This is the swing trading service for Bulls On Wall Street Paul runs
- EP 020: Kunal Desai – An interview with Kunal, who was originally mentored by Paul
- Evernote – The tool Paul uses to prep trading plans
- @PaulJSingh – Follow Paul on Twitter
