Ten Keys to Making It In Life, From a Successful Stock Trader

In this episode of the Really Simple Investing Podcast, Anmol Singh talks about his background in trading, the products he likes to trade, his approach to trading, and his book, "Prepping for Success: Ten Keys for Making It in Life". He also discusses the three different styles of trading he uses - day trading, swing trading, and long-term investing.

Anmol Singh is the author of "Prepping for Success: Ten Keys for Making It in Life" and has been in the trading industry for 13 years. He started trading at 18 years old and has been trading US stocks and options on them, primarily based on technical chart patterns.

Anmol Singh, is the founder of Live Traders, and divides his trading into day trading, swing trading, and his investment account. 

In the interview, Singh emphasizes the importance of learning, research, and finding the right mentors to become a successful trader. He distilled everything he's learned over his career into ten fundamental keys for making it in life, which he shares in his book, Prepping for Success. The book has a call to action in each chapter, and Singh believes that if readers apply those calls to action, they will see results. The most critical key to success, according to Singh, is integrity, meaning doing what you say you're going to do when you said you're going to do it. Singh also emphasizes the importance of taking action and not getting stuck in a learning loop, being a lifelong learner, and surrounding oneself with people who already have the desired results and paying them to get close to them. 

Singh's Live Traders company offers a live trading chat room where he trades live every single day. He also offers courses, seminars, mentorship programs, and coaching groups for people who want to go further and get started in the stock market. Singh recommends that traders should not follow what he does but rather learn from his actions. He suggests starting with his free two or three-hour video course and hundreds of hours of free trading lectures on his YouTube channel. 

Singh uses fundamental analysis to determine which companies he believes in for his investment portfolio. He uses two questions to make investment decisions: is the company going to be more relevant or less relevant in the next five years, and are more people going to be using it or fewer people going to be using it in the next five years? He believes that Tesla will be more relevant in the next five years due to their full-service driving capabilities, solar panels, and new products like the optimists and cyber truck. 

Singh also places covered call options on some of his long-term stocks, like Tesla, Costco, and BlackRock, to increase income. Singh recommends swing trading as an easier style for people who have no desire to be a day trader. Singh's model has beaten the market for the last five years in a row by a good margin, even during last year's market downturn. Singh believes that mindset is half the battle in making money, and his book and resources aim to help traders develop the right mindset.

Timestamped Chapter Summary

• Anmol's background and how he got started in trading (0:01:02)
• The products Anmol likes to trade and his approach to trading (0:02:07)
• Anmol's three different styles of trading - day trading, swing trading, and long-term investing (0:03:05)
• The stocks Anmol holds in his long-term investment account (0:03:48)
• Reinvesting dividends to get shares to grow (0:04:33)
• Anmol's approach to technical trading and indicators (0:04:39)
• How Anmol uses technicals to determine market bias (0:05:08)
• The role of human emotions in technical t

Learn how to make investing simple for anyone and get on a path toward wealth.

Transcript

[TRANSCRIPT]

**0:00:04** Floyd: : Welcome to the really Simple Investing Podcast, where you can learn from others how to be a successful investor. We bring you investors, authors and experts in investing to help you learn more about how you can invest in some really simple ways. If you want to be a successful investor, join us every week for the interview. You welcome to the really simple investing podcast. I'm your host Floyd:  Saunders, and today our guest is Amal Singh, the author of Prepping for Success ten Keys for Making It in Life.

**0:00:37** Floyd: : We want to talk about the book, we want to talk about what you do in trading. And it looks to me like you have giveaways for people that listen to the podcast The Ultimate Guide to Trading. We'll have links for that in the description so people can get that and we'll talk about trading. So tell us a little bit more about your background. How did you get started in trading. How long have you been in the industry, that sort of thing?

**0:01:02** Anmol - Sure, I've been in the industry now for 13 years. I started in 2010 and I was 18 years old when I started. I was in my dorm room studying business and management degree from Brunell University in London and then in London. The thing is, before you complete university, you have to get one year of work experience before you can graduate. And in that work experience, that year of break, I was applying to a lot of different jobs, a lot of different things. Just didn't even get a call back, didn't get in anything.

**0:01:30** - Anmol: And that's where I was like, okay, I need to figure something out on my own and start at least utilizing my time correctly if I can't find a job. So I spent that year just learning, researching, reading a lot of books, taking a lot of courses, finding the right mentors. Lost money my whole first year trading that year. But then by the time second year I joined a prop firm in New York City. And since I've been doing that ever since. So I've never had a job, I have been trading since.

 **0:02:07** - Floyd: : when you do trading, what kind of products do you like to trade in? Or you just look at the market and see what's most active? What's your approach for doing trading?

 **0:02:07** Anmol: So we're trading U.S. Stocks and options on them. So we're trading that primarily based all on technical chart patterns. Every day we'll be trading different things. So I have a few stocks that I trade pretty much very often, tesla, Nasdaq, SMP 500. So those are the things that I regularly trade. But then every day there's something moving, there's something coming up. So in the morning I make a list of stocks that either had news, either reported earnings are opening higher, opening lower, and I shortlist them based on some of the technical criteria that we have. And then I try to go to battle with ten or 15 stocks by 930, and usually I'm trading maybe two or three of them in the day.

 **0:02:46** - Floyd: : Would you classify yourself as a day trader? Do you get in and out of the trade in one day?

 **0:02:52** - Anmol: I classify myself as a trader because I do all sorts of trading. So I divided my trading into few different buckets. So day trading is what I call the income producing style. Right? That's what you use to make an income to pay your bills to live off. And then there's swing trading, where I'll be holding stocks for a few days, few weeks sometimes that is more income producing, but it's also building wealth. You're growing an account consistently. And then there's my investment account. So I take 1015 percent off all of my profits from trading and I just automatically invest it into the stock market. That's kind of three different styles of trading. I call it three different buckets.

 **0:03:26** Floyd: : Day trading, spring trading, and then your investment account, which is basically your long-term positions. Would you consider your investment account, your core position, what you're trying to build up over time? Do you stay in a conservative environment with that income producing stocks, dividend stocks, or what kind of stocks do you hold in your income portion?

 **0:03:48** Anmol: Investment portion, I have, I think about 20 something stocks that I have different allocations. So right now my biggest position is Tesla, second biggest is Amazon. Then I have Microsoft, Google. I have Uber shake shack DoorDash BlackRock. So there's like a whole 20 something stocks, but a majority of them is like Apple, Microsoft, Google, Tesla, BlackRock. Those kind of make up the majority of it. But then I also have roughly 10% to 20% on things like Pepsi Costco, coca Cola, Kraft Heinz. Those are more dividend type of plays where the technology plays are more betting on the upside.

 **0:04:25** Floyd: : And with the stocks that do pay dividend, do you tend to better reinvest your dividends to get the shares to grow?

 **0:04:33** - Anmol: Yes. So I have all of my investments, I have the reinvest dividend option on, so it just automatically would reinvest it.

**0:04:39** Floyd: : Let's go back to the day trading. And you mentioned technical criteria. You have a guide that you give people when they go to your website, Live Trading, and they can get this ultimate guide to trading. In that talk about technical trading and technical indicators, are there particular technical indicators that you prefer to look at or do you look at what's going on in the economy, what's going on in the market, and then try to base your trades based on that? What's your approach there?

 **0:05:08** - Anmol: Sure. So in technicals, what we do is I start off first with my bias. What's the market bias like? Do I think the market is going to go higher or the market is going to go lower? So the markets, in my opinion, let's say if they're going to go higher, then I'll be looking for more long trades. If I think the market is going to pull back, then I'll be looking for short trades, which is betting on the price to go down. So those are the primary things we look for. I don't really use indicators, I use candlestick charts and I use moving averages and then rest are drawing patterns like trend lines or those types of things. So otherwise, apart from that, I don't use any technical indicators. I don't really believe in those because all technical indicators are calculated based on the price of the stock. So the price happens first and then the indicator is calculated. So there's always a bit lag. So if you learn how to read price action, you'll be more better head for the markets.

**0:05:58** - Floyd: : Do you follow the economy and what the Federal Reserve is doing very closely? Or do you just try to look at that in a general sense to get a perspective of where the market is going?

**0:06:08** - Anmol: Yeah, so I do look at it, but I look at it more like financial entertainment. It's just for my own knowledge, but it doesn't factor into my decision making. I feel that technicals always tend to lead the way because what are technicals? It's just a flow of money, right? Every transaction that happens in the market creates a bar, a candlestick. Candlesticks come together, they form patterns, those patterns come together, they form strategies and those strategies are what we use to make money. So what I often find is technicals give us a little bit of an edge before the news actually happens. I've seen it so many times that the technical pattern sets up first and then there's always some news it got upgraded or then it breaks out. But their technicals are always technicals because they are based on human emotions, fear and greed they're never going to get.

**0:06:50** - Floyd: : I often hear that the market has already priced in a trade to interest rate, a change to interest rates or a change in price based upon some news that has come out. So do you follow the news on stocks to see what's happening with them, to try to get ahead of what those indicators might look like?

 **0:07:10** - Anmol: No. So I don't look at news, I would look at it for financial entertainment, just for my own knowledge, but they don't factor into the decision making because our style is very statistically based. So we have like statistical models that have a certain amount of edge. Just like a casino, we'll have a little bit of an edge there. So our only job as a trader is to just continuously execute the model and then the results will take care of themselves.

I don't really worry about news and I often feel that how many times have you seen a stock report great earnings and then it goes down? How many times have you seen stock report horrible earnings and it goes up so clearly shows the news doesn't really factor into a trader's decision making.

 **0:07:47** - Floyd: :  Warren Buffett, for example, tends to be hard on those guys that are stock analysts that put out stock reports and stuff like that. He says that's basically old news. They already should know what the price is before that information comes out. What about momentum trading? Do you do anything in that area?

 **0:08:05** - Anmol: Yeah, so there are certain patterns that we teach that are known as momentum patterns. So those actually, as an example, if people are involved in the markets, they can take a look at the chart of Uber just from last couple of weeks. Take a look at the chart of Shake Shack from the last couple of weeks. Those all set what we call a nice wedge type patterns. Those are momentum trading patterns. And you can see the subsequent move. Uber went up like 20% in the last few weeks, and so did Shake Shack. So those type of patterns are momentum trading patterns, such as breakouts wedges, bull, flags.

 **0:08:37** - Anmol: And all they are is just after a big move up when the stock starts consolidating. Right. And then if it finally breaks again, that's the buy point we're looking to buy because it usually resumes the trend. That's how these higher lows and higher highs are formed.

 *0:08:50** - Floyd: The audience that listens to this podcast are generally people that are interested in getting started in investing, maybe learning a little bit more about investing. I tend to try to teach people to do long-term investing, so I'm always interested in what people are doing in the trading arena and which the different approaches are. You've mentioned the candlesticks. Can you explain candlesticks a little bit more for somebody who might not be knowledgeable of what they look like and what they do?

 **0:09:17** - Floyd: Sure.

 **0:09:18** - Anmol: So a candlestick is called Japanese candlesticks. It was started in Japan by Japanese rice traders to just give them understanding of what happened in the markets. Candle. Just imagine a candlestick. It would be like a little rectangle vertical bar. And then the bottom of that, if it's a green candle, is telling you where the price opened for that day. So let's say Apple opened at $100, and at the end of the day, let's say Apple went as high as $105, but then closed at 104. So then the bar would be from 100 to 104. And then there will be a little wick at the top that's called, like, how high it went. That's the one five that it went to.

 **0:09:54** - Anmol: So what it basically does is, at a glance, it just tells us everything that happened in the markets. How low it went, how high it went, where it opened, where it closed. We get all that information just by looking at the chart. So that saves us some time when we're making quick trades to look at the market, see where it went. We could just look at one candlestick, and that gives us all the information.

 **0:10:14** - Floyd: Would you say candlesticks is more useful for somebody who's trying to place a day trade versus somebody who's trying to place a trade and looking at what the trend is and trying to find the swing of that trade? 

**0:10:25** - Anmol: I think for both, I use it for all of my styles, even for my investments, I use it. Now what you teach is actually correct. Like everybody, if you're new, you don't have the time that I have to sit in front of my computer and do the thing. So for most people, it's better off that they just invest. But when you learn technicals, it does give you a little edge of knowing when to get in, knowing when to get out. Right, because people had so much unrealized profits in 2021 and then they gave it all back in 2022, where stocks like Zoom, Roku, Shopify, Tesla all went down like 70, 80%.

**0:10:58** - Anmol: So as a technical individual, we would know, okay, we could get out of the top, we could always rebuy it. And that's exactly kind of what we did, is we sold at the top and pretty much bought them back when they came down 50% pullback and we got back in, and now the trend has resumed back to the upside. So they just help you pinpoint the right entries and exits, but you're not always going to be right. Sometimes you're going to miss trade.

 **0:11:22** - Floyd: That kind of points out the importance of fundamentals as well, right? I mean, doom as an example. It went up because everybody was switching to working from home and they needed a way to communicate to their coworkers, et cetera. And it didn't go up on fundamentals, it went up on the fact that everybody was essentially buying that product for a short period of time. Once everybody buys it and uses it, their only revenue is going to be coming from the subscriptions that they get.

 **0:11:49** - Floyd: And as people return to work, that's obviously slowing down. So their business is going to slow down, but that's got nothing to do with the fundamentals of the business.**0:11:58** - (A): Right.

 **0:11:58** - Floyd: So do you look at fundamentals at all to indicate, well, this seems like a good company I want to look at, and then look at the technicals to determine when you want to buy or sell.

 **0:12:09** Anmol: Correct. So for my investment portfolio, I do that. So all of the stocks that I have in my investment portfolio, I don't have any speculative sort of names. I have mostly the well known companies in there. So I'd start with the fundamentals, which companies I believe in, and I don't complicate my fundamental analysis by looking at statements or management of the CEO or any of that. I met this venture capital person, manages billions of dollars.

 **0:12:35** - Anmol: When I started early on in my career, he so he told me, hey, two questions that we ask in our venture capital firm when we make any investment, is this company going to be more relevant or less relevant in the next five years? Are more people going to be using it or less people going to be using it in the next five years? So just those two questions is what I use to make my investment decisions. 

Floyd: So, by example, Tesla, is it going to be more relevant or less relevant in the next five years?

 **0:13:00** - Anmol: And so it would be more. So then that kind of goes into my watch list and then I'll look at technicals to write the fine tune my entry on that stock. Because if you believe in zoom but you don't want to buy it at 400, you want to wait for it to come all the way down.

 **0:13:15** - Floyd: Right now you mentioned Tesla and the fact that it should be relevant or it's relevance. Doesn't the idea of Tesla be more relevant when it enters the market? When it starts establishing the market for say, electrical cars or solar panels or whatever they're into? But as that market begins to mature and they get more competitors, they lose a little bit of the relevance?

 **0:13:41** - Anmol: In that scenario, yes, but the thing is, Tesla has such an advantage in their full service driving capabilities. The FSD is way leaps and bounds ahead of everything else, right? Like Mercedes is the next closest one, but even that doesn't even allow you to change the lane on autopilot. So the Tesla technology is way ahead. And if you just look at the amount of cars that are going to be Teslas and then how many of them are going to be FSD and then they use a subscription price overall, the fundamental model is prime. And then to add solar panels, that's another business nobody really talks about or thinks about when they think of Tesla. And then just a few days ago, he announced these optimists, some robots or something new product and cyber truck people are waiting for.

 **0:14:23** - Anmol: And right now, other EV competitors are nowhere close. They're not even able to compete. So that's one of the things that they have a clear advantage. And I think that that's going to be one that I really believe in over long run.

 **0:14:37** - Floyd: We're going to take a quick break right here and when we come back, we're going to get more into Amal's book, Prepping for Success. Maybe he'll talk to us about some of the ten keys for making it in life that are in the book.

 **0:14:49** - (B): We'll be right back with more great ideas for investing and building your financial security. If you're seriously interested in building your wealth, join us every week on the really simple Investing podcast and check out our website@reallysimpleinvesting.com. You'll find more great podcast, our blog on investing, and some great books from Floyd:  Saunders. Books like Investing for Beginners and Five Paths to wealth.

 **0:15:13** - (B): Sign up for our newsletter so you don't miss listening to our guests and learn even more about the simple things you can do to become a successful investor. You're listening to the really simple investing podcast. And now more investing ideas as we continue our interview. I've been talking with them all. Sing here on the really simple investing podcast.

 **0:15:35** - Floyd: The author of Prepping for Success ten Keys for Making It in Life. And also he's a very active trader with the Live Trading Group. And you can follow him on Twitter. Facebook, Instagram, LinkedIn. YouTube. I'll put all the links in the description. Let's talk about your book for a minute. Prepping for success. Now, you're a young man, you went to college, you started going to work right away. How did you determine that there were ten steps or ten keys for making it in Life and decided that that represents a book? What was the genesis, the idea behind the book?

 **0:16:09** - Floyd: Great.

 **0:16:09** - Anmol: So, yeah, originally I wrote this book for myself. Like, what are the ten things I need to do in my own life to get to where I want to go? These are notes for myself on all the things that I've learned over the course of my career. I've spent hundreds of thousands of dollars hiring mentors, coaches, courses, seminars, personal development, spirituality retreats. Like, I've spent a lot of money, and I still do. I still spend hundreds of thousands just on my personal development.

 **0:16:35** - Anmol: But I realized that not everybody has that amount of money to spend on people. And what I also realize is that there's a sea of information out there. One person is telling you this way, the other person is telling you that way, and there's a lot of information. So for me, I distilled it down everything I've learned over my career into just ten main things. The fundamental things, not strategies, the way of life.

 **0:16:56** - Anmol: So once I started applying it into my own life, I saw my results just kept getting better and better and better. And eventually I showed it to a few friends. They're like, this is great. I enjoy reading it. You should make it into a book. And that was the genesis of the idea of writing that book. And every chapter ends with, here are the three things you need to do before you move on to the next chapter. Because I don't want people reading a book after book and to bragging purposes, they say, I've read ten books, but they don't retain anything, they don't apply anything.

 **0:17:25** - Floyd: So every chapter calls to action in each chapter of your book.

 **0:17:29** - Floyd: And if they apply those calls to action, what happens? What happens to them or what happened to you, I guess.

 **0:17:35** - Anmol: So, like, example one of the biggest keys is one of the keys of success is integrity. Being a person of integrity, meaning do what you say you're going to do and then do it when you said you're going to do it. Right. How much would our life be different if we did every single thing we said we're going to do, and we did it when we said we're going to do it. That's very foundational. And a lot of people think, hey, but I'm a person of integrity.

 **0:17:57** - Floyd: Really?

 **0:17:58** - Anmol: When's the last time somebody called you and you said, hey, I'm in the middle of something, let me call you back, and you never did integrity. So I'm paying attention to the words that come out of our mouth is the number one key for success.

 **0:18:10** - Floyd: And then after that, what's? Maybe some of the other steps that are included in the book. I don't want you to expose your entire book, obviously, but what are some of the most important of those ten keys?

 **0:18:20** - Anmol: So integrity is the most important one because without that, everything else fails, right. You can have all the strategies in the world, but if you don't do it, then it's not going to work. So that segues into a second key, which is taking action. Meaning don't get stuck in a learning loop where people are reading one book, then move on to another book. They listen to one podcast, move on to another podcast, and they're just lifelong learners, which is great.

 **0:18:53** - Floyd: I recently been studying self made millionaires and their habits. And one of the habits that they have is they read a lot. They usually read at least two books a month or listen to audiobooks on the way to work. And the other thing that they do is they have a to do list and they always write down those to do lists, and they complete 65 70% of their to do list items on a daily basis. So they're people of action.

 **0:19:15** - Floyd: And I think that's an important lesson for anybody who wants to achieve success in life or even financial success, is be a person of action. The action steps that you decide that you want to accomplish and make sure you accomplish some of them each day, right?

 **0:19:32** - Anmol: 100%. I think that is the biggest thing people can take away is like, start applying, because inherently we all have the knowledge. It's just the doing part, the executing part. So make sure you go out and.

 **0:19:44** - Floyd: Execute and then going from tenderly and action steps. What's another one? You said there were three or four that were really key in the ten steps.

 **0:19:55** - Anmol: Yeah, and then the third one is being a lifelong learner, right? Like, constantly learning. Like, I'm on my 13th year of trading, and for the most part, I've got the material things that I wanted, but I still have higher coaches because you can always be better. There's always another level, right? Like I'm in New York City. There's always a taller building. So I'm always hiring coaches that maybe have something that I want in their life that I don't have right now.

 **0:20:21** - Anmol: And it could be other areas of your life. Like right now, my biggest focus is health and fitness. So just try to get back in the gym, get back in shape. So hired person for that. And let's say you want to be in a relationship. You want to be in a dating coach, hire a person for that. So I surround myself with people who already have the results that I want. I just pay them to get close to them.

 **0:20:43** - Floyd: And that's another characteristic of Self Made millionaires, is they use mentors. They have a team of experts that they call on, whether that's CPAs and tax attorneys or relationship coach. When they feel that they need to strengthen their skills in some particular area, they go find a mentor in addition to reading about it and start to work with it.

 **0:21:07** - Anmol: And one of the things traps to not fall into is watching or looking, listening to too many people at once. So I work with one mentor all the time, and then only when I've got everything that I wanted is when I would move on and hire somebody else. A lot of people listen to too many people and then they don't end up doing anything. So pick one thing. Go deep rather than going wide.

 **0:21:31** - Floyd: Talk to me a little bit about your company, Live Traders. Do you have a lot of resources on your website for people and you offer some seminars and that sort of stuff on trading? Is that how it works? Do you mentor people on trading?

 **0:21:46** - Anmol: Live Traders was started as a way of coaching and trading new traders and shortening the learning curve. So what we offer is we have a live trading chat room where I trade live every single day. So I live stream every single day. Win or lose, people get to see it in real time. Like today, I think I lost $3,000. They got to see that. But then the other day I made 10,000. They got to see that live what they can learn by looking at my own emotions and how I'm handling myself.

 **0:22:10** - Anmol: So I think that's one of the things we offer. And then we have courses, seminars, mentorship programs, coaching groups for people who want to go further and get started in the stock market.

 **0:22:19** - Floyd: In those live training sessions, do you find that people follow what you do? You start opening a trade. Half a dozen or however many additional people open a trade in that same position.

 **0:22:29** - Anmol: So a lot of people do. We don't recommend it. We tell people that your goal should not be following. The reason we do this is so you can see what we're doing and how we're doing it and try to learn from it. Right. Everything you're learning in a course, you can see us apply it in real life, but you cannot help it. There's always people that just want to do everything you're doing and follow. I don't recommend it, but I can't hold people for that. It's up to them what they want to do.

 **0:22:52** - Floyd: By placing trades with their own money based upon what you're doing, I mean, they're learning in real time with their own money that's actionable in itself. Because, gosh, I placed this trade with them all. I made ten grand yesterday, but today I lost three. What's tomorrow going to look like? Where do they start learning how to do it themselves? From following that live trading action?

 **0:23:16** - Anmol: So I think the best way to start for anybody is to go to livetradersguide.com there. You'll be able to not only download the guide, but you'll get a two or three hour video course that I recorded completely for free. You can start watching that. That will get you in the right frame of mind and what we do, how we do it, and how it works. So I would start there and then there's hours, like hundreds of hours of free trading lectures on our YouTube channel. Literally. You've just learned that you don't even need to buy my course. Just watch all the YouTube lectures. There's hundreds of hours of training on there.

 **0:23:46** - Floyd: And that YouTube channel is called Live Traders.

 **0:23:50** - Anmol: Right.

 **0:23:50** - Floyd: So that's easy to find. And I looked at it earlier. As you said, there is tons of information there for anybody who wants to learn more about trading. Talk to us about how a trainer should start if they listen to some of your course materials, watched your YouTube videos, followed you on your live trading sections. Where should they start? You specialize in stocks and options and puts, but there's plenty of ways of trading besides those. Why do you focus on those particularly versus, say, trading a corn commodity future?

 **0:24:25** - Anmol: Yeah, I think it's just because I started with it and then I saw results. So it's almost like been doing it 13 years. Why change anything now? Let's learn something that's not broken. So I just stick to what I've tested my models on, because it's all about statistically viable models. So I don't have the model that I've worked on for futures markets or commodities. Although we do trade things like gold and silver using ETF, GLD, SLV. Those are just like stocks. So the best way to start, first thing people need to ask themselves is, hey, how much time do you have to devote to this to learn? Right, because there's a learning curve.

 **0:24:59** - Anmol: And do you want to be a short-term trader? Do you have time to spend three, 4 hours in front of your computer every day you do that? Or maybe you already have a job, you have another business, but you just want to do it on a side or maybe find a way to fine tune your investments. So, first is determining. That like, which area do you want to be in? Do you want to be a long-term investor, swing trader or a day trader? Once you've got that down, then the next step is basically just finding a mentor like me signing up and just actually listening, having an open mind and a willingness to learn, and you'll get it.

**0:25:32** - Floyd: Now I want to talk to you about one specific strategy that you might use that you hadn't mentioned holding stocks and their long-term position, but you'd like to increase the amount of income from you getting from that. Would you place covered call options on some of your stock positions that's in your investment portfolio?

 **0:25:51** - Anmol: Yes, on some of my long-term ones, I'll do it I usually would only do it on things that are like higher priced stocks like Tesla or Costco or BlackRock. Those are five $600 stocks. So even if you sell a covered call, you can get a good amount of premium for that. So I would do it on those type of stocks, and typically I would do it after they've, let's say, run up five, six days in a row. And then I'll sell a covered call way above that to protect myself because I don't want my long-term shares to be taken away from me. So I try to be very conservative, but I do sell covered calls on my long-term positions.

 **0:26:25** - Floyd: Well, certainly that's a risk with a covered call option is that it would be exercised and you lose that long-term position. Then you have to go find another stock that you invest in with your money and all that sort of stuff. But there is an opportunity there to increase income for people if they do it in a conservative manner, as you mentioned. Are there any other particular keys that you feel are important for somebody who wants to take a portion of their investment portfolio and do a little bit of trading on it other than covered call options, puts, any of that sort of stuff that you recommend for people?

 **0:26:59** - Anmol: I think if you have no desire to be a day trader, which is not for everybody, day trading is not for everybody fast. But swing trading is a really good style because it doesn't take a whole lot of time. Like, I typically might take two trades a week, maybe one a week. So that's an easier style that people can start following. And that's an alternative form to investing in the stock market. And we have our model has beat the market for the last five years in a row by a really good margin. Even last year, the markets were down 35%. Our model made about 43%, something like that. Using swing trades just in and out, taking trades here and there. That would be a great style to start with. And we have newsletters and stuff for that.

 **0:27:38** - Floyd: You have newsletters for that particular approach as well as the YouTube videos and the free trading guide. So I think there's a lot of resources that you've put out there which are going to be very useful for people that are listening to the podcast and want to learn more about investing and trading. And so I really appreciate you taking this time and introducing some of these concepts to us and talking about your book Prepping for Success, because that's a really important part of investing, is having the right mindset, right?

 **0:28:09** - Anmol: Mindset is like half the battle because you can teach anybody how to trade, but learning how to make money is a completely different ballgame.

 **0:28:16** - Floyd: Thank you for your time, We should pick up your book. looking YouTube videos, pick up the guide for live training and get started in making more money, right?

 **0:28:30** - Anmol: It was great chatting with you. Thanks for having me.

**0:28:32** - Floyd: Thank you for joining us for the really Simple Investing podcast. Every week we bring you fresh ideas for investing and really simple ways to invest and build for your financial security. Be sure and hit the like button subscribe, follow us on our social media channels and tell your friends. And if you'd like to be a guest on really Simple Investing, just go to the contact page on our website and send us an inquiry. Thanks. We appreciate our audience so much.