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158: How To Make A Living Trading Other People's Money - Jerremy Newsome
Desire To Trade Podcast | Forex Trading & Interviews with Highly Successful Traders
English - August 27, 2018 08:00 - 53 minutes - 98.5 MB - ★★★★★ - 56 ratingsInvesting Business Education desiretotrade forex futures investing learntotrade motivation stockmarket stocktrading trading Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In episode 158 of the Desire To Trade Podcast, I sit down with stocks & futures trader Jerremy Newsome from Real Life Trading to discuss how to make a living trading other people's money (also called OPM).
This episode is another collaboration with Jerremy and I really love his insights and the things that he thinks about that I wanted to bring this on the podcast once again. You guys have been hearing Jerremy for a few times in the past month.
In this podcast, we talk about mostly how to trade for OPM (or other people’s money). There are a couple of important things that I didn’t even know myself but that I learned by speaking with Jerremy. Even if you do not trade for other people, you will still learn a lot from this interview. We talk about how to pay your taxes as a trader and a lot, lot more.
Watch the video interview here.
Topics Covered In This Episode Why it makes sense to trade with other people’s money [1:43] What people should expect when they’re trading other people’s money [3:12] Ways to go by and instruments that you can use when trading other people’s money [5:02] How firms have strict rules for risk and not wanting to lose too much when trading other people’s money [12:17] Drawing the line between starting too early or too late trading for other people [16:10] Differences between individual people & firms and companies [17:54] The difference between using leverage or trading for other people with a firm when trading in Forex [19:35] The legal requirements when trading other people’s money [21:58] Having the right mindset and being confident [23:38] How Jerremy Newsome prepares himself as a trader for other people when he has his first drawdown [27:54] How often Jerremy Newsome withdraws money from his account [30:12] If it’s possible for a firm to get funded at a 2 to 5 percent monthly return [34:27] How much money stock traders usually give Jerremy Newsome to start with [37:33] Why Jerremy Newsome trades stocks and not Forex [39:03] Investing every single penny you have in your bank account [43:40] Tradenet and equities [48:27] Resources Mentioned Futures trading: http://bit.ly/2ORaUXF Forex trading: http://bit.ly/2njZY8r Tradenet DesireToTRADE Top Resources Desire To TRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist (free checklist!) One-Page Trading Plan (free template!) DesireToTRADE Academy (exclusive training program) How To Find Jerremy Newsome? Email: [email protected] Real Life Trading Youtube LinkedIn Twitter Facebook
What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!