231. Unlocking the Secrets of Successful Trading with Anmol Singh

Do you want to gain a comprehensive understanding of trading and make well-informed investment decisions? Wondering how you can achieve this desired outcome? It's time to break free from the cycle of ineffective actions that only lead to more pain and uncertainty. Let's embark on a journey of knowledge and guidance, where you can gain valuable insights into trading and investing to make informed decisions and achieve the financial success you desire.

Join us on Average Joe Finances as our guest Anmol Singh shares the secrets of trading success and how to make wise investment choices.

In this episode:

• Gain valuable insights into trading and investing strategies to make informed investment decisions.
• Learn how to maintain emotional control in trading to avoid making impulsive and costly mistakes.
• Understand the importance of mindset in finance and how it can contribute to your financial success.
• Explore the potential risks and rewards of cryptocurrency investment and make educated decisions in this market.
• And so much more!

Key Moments:
00:01:04 - Anmol Singh's Background
00:02:03 - Start of Investing
00:05:22 - Thoughts on Trading
00:11:10 - The Importance of Education and Understanding the Market
00:12:35 - Finding Your Trading Style and Mentor
00:14:09 - Technical Analysis for Trading
00:15:45 - Trading as a Psychological Journey
00:18:58 - Understanding Emotions in Trading
00:22:10 - Managing Emotions in Trading
00:23:47 - Definition of Success
00:26:41 - Well-Rounded Success
00:27:01 - Trading Crypto
00:29:39 - Bitcoin's Future
00:33:47 - Getting Started in Investing
00:35:15 - Making Money Work for You
00:36:39 - The Power of Mindset 

Find Anmol Singh on:

Website: https://livetraders.com/

IG: https://www.instagram.com/deltaninety/

Twitter: https://twitter.com/DeltaNinety

Book: http://preppingforsuccess.com/book

Average Joe Finances®

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About Mike: https://mikecavaggioni.com

Show Notes add-on continued here: https://averagejoefinances.com/show-notes/

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See our full episode transcripts here: https://podcast.averagejoefinances.com/episodes

Transcript

Average Joe Finances: 0:00

Hey, welcome back to the Average Joe finances podcast. I'm your host, Mike Cavaggioni. And today's guest is Anmol Singh. So Anmol super excited to have you on the show. Thank you so much for joining me today.

Anmol Singh: 0:12

Thanks for having me as well. Looking forward to chatting with you.

Average Joe Finances: 0:14

Yeah, absolutely. Hey, where'd you say you were calling in from? I'm in New York city. You are in New York city. It's funny. Cause like I, this is my second interview today. And in between I had this investor meeting, but the first interview I had today was with somebody that lived in lower Manhattan. So I thought that was pretty funny. I'm from New York myself.

Anmol Singh: 0:32

I'm in the lower Manhattan as well. I'm in the financial district.

Average Joe Finances: 0:35

Nice. Yeah, that's awesome. That's awesome. We could talk a little bit more offline about this. You guys might know each other because this particular individual is also in the same district. Okay. Right on. So I'm going to actually say, just like I said with her, that, you probably understand what good pizza and good bagels tastes don't you?

Anmol Singh: 0:53

Yeah, For sure.

Average Joe Finances: 0:54

Yeah. Okay, cool. I will leave it at that. All right. So Anmol, super excited to have you on. I want to start things off the same way I start every podcast episode, and we'd like to know more about you. So if you could share a little bit about yourself, share your story, tell us who is Anmol Singh?

Anmol Singh: 1:12

Yeah, definitely. So Anmol Singh, me, I started off as a financial trader, a stock trader trading for a firm over in New York. That's how I originally started into the stock market. Started trading for them, traded for them for about five years from 2010 to 2015. And in 2015, that company got bought out. So rather than joining the new company, I started LiveTraders in 2015. And I've been doing that ever since. And that's what foray into the stock market. And then. What do you do with your money is something different. So I use a lot of my profits from my trading and I got into real estate. I got into angel investing And now I have 32 different startup companies that i'm a smaller investor in And then I have a real estate portfolio a lot of it in india and a couple over in new york as well

Average Joe Finances: 1:54

All right, so you are what we would call well diversified when it comes to your investments so I just want to ask you, like when did you actually start investing? How old were you?

Anmol Singh: 2:05

I was 18. I started in 2010, I'm 31 now. So from 2010 to 2015, right from my dorm room. I started just trading because I wasn't able to get an internship. That's a different story. I applied everywhere, just didn't get in anywhere. So I started, just like everybody else going online, seeing what else I could do. And I found this company where they said, Hey, you take this course, take this program. And then after that, we'll give you a shot. And that's when I started. So 2010 and been doing that ever since never looked back.

Average Joe Finances: 2:32

All right on. So do you actually do like day trading or are you more of a, invest and hold like what is it? What is your strategy?

Anmol Singh: 2:41

Yeah. So I call myself a trader. I never put myself in a bucket. Like I'm a day trader or I'm an investor. I'm a long term trader. I'm a trader. If there's an opportunity somewhere, I'll trade it. So sometimes there's an opportunity that I see that might take a year to play out. I'll invest in that, right? If I see that opportunity to make. A quick move in which it might take five minutes in a trade. Then I might day trade that the same way. If I see an opportunity in a startup company that I think could be something or could maybe go public one day as a stock, that might be a five, 10 year old. So I might do that too. So I just say, you can call me an opportunity, wherever there's an opportunity I'll go. If it's a quick day trade for a few seconds, I'll do that too.

Average Joe Finances: 3:16

Opportunist sometimes has a negative stigma to it, but at the same time, realistically, a lot of investors are opportunists, right? You look at, different options that are available. Something pops up, an opportunity that pops up and you're like, Hey, this will be good for me to grow my dollars. You jump in on that. So I'd like to try to remove that negative stigma from opportunist and look at it from a more, open perspective of a, there's opportunity out there for everybody. Jump into it, right?

Anmol Singh: 3:45

100%. There's opportunities everywhere all around us is just, are you keeping your eyes open for it? And also being, a little bit objective, taking a step back. Sometimes when we find one opportunity. We fall in love with it. And then we find all the reasons to justify our decision in that investment or that property, or, whatever that might be. So it's important to take a step back and just, yeah, exactly. So it's important to step back and just evaluate them as they are. And if you like it, great. If not be okay with saying pass.

Average Joe Finances: 4:13

I'm glad you brought that up. Cause I had a podcast episode recently where I was talking about a business failure that I had. It was a small little startup business that I started out here in Hawaii. And my vision for it was just like, that it was going to be this big thing. And it actually hindered my vision to see where it was failing and to see that I should have let it go sooner than I did. Because all I was doing was dumping money into this and not really getting any type of return. So I feel like that's really important, right? To think about that that sometimes that, you don't want to. You don't want to have that vivid vision that you have for yourself override. All of the principles that you've used to get to where you are, right? Cause a lot of times you can just, you can put those blinders on and your peripheral visions blocked and you're just moving forward and you don't see all the things coming out at the sides that are just there to hem you up, so I think that's a, that's really important. Now, speaking of losing money, like I did with that okay. When it comes to trading, I know, like when I look at it. And I know other people that look at it, like me personally, I don't do trading, I'm a buy and hold kind of guy. And statistics show that, 90 percent of traders lose money. So what are your thoughts on that?

Anmol Singh: 5:32

Yeah. I think trading is definitely not for everybody because it's like another profession, right? It's another skill. If I play, golf with somebody on the PGA tour, I'm going to lose. It's the same way. If an average trader is coming in and competing with people who've had. Tens of years of experience. They have softwares, they have programs, you're not going to be able to compete. So day trading definitely is not for everybody. But as far as the statistics concern, that's actually a very false statistic that's thrown around online. Because if you look at it, that report was conducted by brokerage accounts, right? Brokerage firms. They audited their clients and then came up with that statistic. And a lot of people might say, but isn't that true though? They audited their statements. It's a real fact, but not really because They counted everybody with a brokerage account as a trader, right? So if my mom has a brokerage account, she pressed the button once. She's counted in that report as a trader. So by pushing a button, buying or selling doesn't make anybody a trader, right? It's a profession. It's a skill. We study day and night. We have reports. We have statistics. We have our spreadsheets that we fill out every single day. We have statistical models we've back tested over the last 10, 20, 30 years. And we know exactly our ratios, just like a casino would know its ratios, right? So that's what a professional trader is. And if you actually conduct the research which we've done in our own little community, it's 70, 80 percent people are making money, but then again, they've been doing it for several years before they get to that point.

Average Joe Finances: 6:50

Yeah. 70 percent of actual traders. So I like how you put that out there too, because, just because I buy a couple of things on Robin hood, doesn't make me a trader. And just because, some of the accounts that I'm in, some of the ETFs that I buy and things like that doesn't make me a trader. Like I said, I'm a buy and hold kind of guy. But I do know other traders that have been very successful. So that's why I wanted to get that out of the way, because, like you said, that is one of those statistics that you see a lot online. And a lot of people like talk about that on like personal finance forms Oh, stay away from trading and this and that. But honestly, if you have the skillset and you put the time into it and you educate yourself, you're going to. Being a much better position to do the trading and actually be successful at it. And I feel like that's where that disconnect is because people think oh, I could just look at a few factors and figure out whether or not this is going to be a good investment. And realistically, there's so much more that goes into it, right? Like you had mentioned, like all the other stuff, like the stats and the data that you guys aggregate and put together. Yeah. Before you make those decisions to go and trade. So you have a much better understanding of the market versus, like me, I pull my phone out of my pocket, go to Robin hood and say, Oh, this Tesla looks good today. I'm going to buy Tesla, and what am I going off of? I'm not going off of anything except for the fact that I own a Tesla and I love it. It's emotional for me where, you look at it with more analytical perspective. So

Anmol Singh: 8:12

yeah, a hundred percent and Tesla does look good right now, by the way.

Average Joe Finances: 8:14

I see, there we go. And for me, it was just a gut thing. So you probably have the data to back that I don't, I'm just, again, emotional when it comes to that. So what is it that somebody can do? If they wanted to get into trading, what would be your first recommendation to somebody that says, okay, Anmol, I want to do what you're doing. How do I get there?

Anmol Singh: 8:35

Yeah, I think the first thing is, A, you got to see if it's even for you, right? You don't want to just make a decision. We live stream and trade every single day, right? So people can come in, watch and observe how we're doing, what we're doing. So that's what I would suggest for most people is to first see if you even like it, right? Maybe you come into it, you're like, you know what? It's not for me. I don't like it. It's too fast or it's too much, complicated. Maybe it's not for you. So first you... Watch somebody, find a professional trader that you maybe know, maybe your friend is a trader, sit next to them, watch them do it, see if that's something you want to get into. And then let's say now you decide you want to get into it. The second step is to decide what kind of trader are you going to be? Are you going to be a day trader? Are you going to be a long term investor? Are you going to be a buy and hold person? Are you going to be a swing trader? So what a swing trading is a difference between long term investing and day trading. It's in between. So day trading is us getting in and out every day. Swing trading is you might be holding a stock for a few days, maybe a few weeks. So it's not really an investment. It's a longer term trade per se. And an investment is something where you buy in and holding for the most part. So you'll have to decide how much time do you have to give to it? So if you have another business, you have another job you're not going to be able to day trade because markets open at 930 closes at four. So you've got to be there during those hours. If you're not there, you can day trade. So in that case, for that type of person, swing trading, investing is going to be the right thing to do. Right now, if you're somebody who wants to do this full time, you have all the time in the world, you don't have another job, you can sit and do this all day, then that's when day trading will be for you. So first step is deciding what kind of trader investor you're going to be, right? Once you've done that, then you just find somebody who's already doing it or has the results that you have. And just ask them to teach you. It's as simple as that. The biggest pitfall is people going online and learning from a variety of different places. Cause there's no one way to trade. There's no one style of trading. Every trader has a different style. So if you listen to information from 20 other people, you're going to get confused. One person's going to say, Hey, read the balance sheet. The other one's going to say, look at the chart. Third person going to say, look at this indicator. And you got, now you're confused. So you find one thing and you stick to it.

Average Joe Finances: 10:35

I absolutely love that because I feel like, again, like you had said, you go to 20 different people, you're going to get 20 different strategies, right? So you have to find the one that actually works for you. You might find that, somebody that's trading and their particular strategy just might not be your cup of tea. And you're like I want a little bit more data, so you might maybe go learn from someone else that. That is more of a data aggregator and pulling all that information together. But I think that's the important piece that you're pointing out here is that you need to figure out what it is that you want to do first before you start actually just jumping in headfirst, right? Cause you don't know how shallow that order is. You jump in headfirst, you can break your neck. So I think that's really important that you understand that. And then on top of that, I feel like the education piece is super important as well, right? Cause you don't want to just go into this blind. You want to have. The, that, that actual debt, like you want to learn, right? You want to learn how people do this and how they do it the right way. So that when you get started, you're not going to be making some of those expensive mistakes that a lot of people had to learn the hard way. What do you think about when it comes to that, when it comes to the actual education piece for somebody that wants to get into trading, like. What are some good resources or items like that, that you believe people can tap into to get them, give themselves more of a leg up or a just a better footing when it comes to trading. Yeah. I think,

Anmol Singh: 11:54

Totally spot on because you need to know what you're doing into this business because it's a sport. It's as close as you can get to actual sport, because think about it. If you're buying a stock, there's no magical pool where stock shares are sitting and you're buying it. Somebody's selling it to you. So either you're right or he's right? You're not buying it from a magical pool for every buyer There's a seller. So if you sold a stock somebody bought it from you either he's right or you're right So you cannot possibly expect to come into the market after watching a youtube video or listen to Or reading a book and then you come in and say i'm gonna trade And i'm gonna compete with traders from goldman sachs or traders who've been doing this for 10 15 years traders like me And our company that we've been doing for so many years with all these tools, you can't possibly compete. So the first thing is you have to find somebody who aligns with also your personality style. Because as I said, there's different styles of trading. You might be more jittery, nervous kind of trader. Maybe day trading is better for you because you can be in and out real quickly and you're not overnight holding something that you can't sleep right now. You might be somebody just doesn't like the fast paced action in and out all the time. You're like, Hey, I wanted the long term future. Like Tesla, I think is going to be, whatever it is going to be a thousand dollars long term. I'm going to be holding that. Then you have a more patient personality. So there's not one style. So once you found your style and the personality type, then the second step is again, find somebody with that personality type and the style. And. See whatever they have get on the phone with them, get on a call with them, ask them to teach you what to do, take them out for lunch, whatever you need to do it, right? Like my mentor, he taught me, he's my business partner now, much older than I am. I learned from him. I paid him. I took a course from him this year in 2010, right? And I was like, he already has the results that I want. What do I need to do? And what I liked about him was a lot of people were hyping up the games. This is what my winner is. This is what my winner is. He was talking about losses, the psychology behind trading, and I really love that. So I, saved up money. I was writing articles at that time for Yahoo Finance. Saved up all that money that I got from as a freelancer writing those articles. Paid him the money. I said, I want to take your course. And then he took me under his wing, taught me everything I know. And now we're business partners. So I think that's the kind of model that I would suggest. Most people just find somebody first and do whatever it takes.

Average Joe Finances: 14:02

Yeah, absolutely. Speaking of, when it comes to finding somebody like, what do you think about, when it comes to people's different styles, like how do you figure out if they're more of a technical person or if they're like more like analytical when it comes to their particular style? And then, how do you figure out which one's the right one for you?

Anmol Singh: 14:23

Yeah, so I think when it comes to investing, you have to have more of a bigger picture view, the company, the fundamentals, economy, you gotta know all of that, right? Now, when it comes to trading, technical is the only way to trade. There's no other way. Because think about it, if I love a company it could be a great company, the stock could still go down that day, right? So fundamentals are not really going to help you as a short term trader. The company might have great earnings reports and the stock might still go down As the fundamentals are not that important when it comes to trading technical is the only way Because technicals tell you where you can buy where you get out All those things that fundamentals are not going to tell you when to get out of a stock You just have to make your own gut feel decision And as i'd like to teach I don't like to rely on gut feel because you can't back test that You have to you can't make models out of it. So technicals I think is the only way to trade but it is a skill You have to learn it. It's like an art, just like anything else new you'll learn it's going to take some time and but I think from when it comes to trading Absolutely. The only way to do it is to read charts Figure out the patterns and look at how those patterns performed over the last 5 10 years When the last time I set up what happened And that'll help you make educated decisions because that's all we're trying to do as traders Nothing is a sure thing. We're making educated decisions that put the odds in our favor. Just like a casino knows, no matter how many people play, no matter how many times they lose at the end of the day, they're going to come out this much ahead. And that's what we're trying to do as traders.

Average Joe Finances: 15:46

Yeah, absolutely. So speaking of like, when it comes to. Figuring out like how like you said, some people are going to come out ahead. Some people aren't, and it depends on like how you go into this, right? With that being said, a lot of people can make mistakes along the way, right? With all the clients and folks that you've worked with, I know you have such a, a large impact when it comes to people that are getting into trading, right? So you probably have a lot of experience when it comes to, or just a lot of knowledge when it comes to seeing some of the mistakes that people make. So what do you, what is some of the biggest investing or even trading mistakes that people really should look out for? Because you've seen. Then make it.

Anmol Singh: 16:30

Yeah, I think, trading is very emotional. More so than strategy, more so than charts, more so than pattern. It's very emotional, it's very, it uses all elements of your psychology. It'll bring out the best in you, it'll also bring out the worst in you. I always joke around, but I say it very seriously. Is that trading is like the biggest personal development journey that I embarked on. I started to become a trader and then ended up becoming a psychologist. Because I realized how much messed up I was. When I got into trading, you're in a stock, it's going down. And rather than just getting out and taking a small loss, you're like, it'll come back up and then you get it on a tilt. Then you become, I'm going to buy more. And you start fighting your revenge, trading it. And that's the absolute,

Average Joe Finances: 17:09

You're talking to me. I feel like I'm playing a poker game right now, right after I lose a big hand, then I'm tilted and going all in, it's crazy.

Anmol Singh: 17:17

Yeah, and it's true because they're very similar gambling and trading are very similar because the research has already been done That it releases the same hormones as you gamble as you have sex you do cocaine Wherever whatever it is the same hormones of dopamine and serotonin are excreted in trading Now the problem is with poker sure Maybe you're playing around a poker you get those hits of dopamine and serotonin but in trading we're doing that every day for a living Every single day. And if you're a day trader, you're on your computer all day long. So we're facing those hormone imbalances every single day. So learning how to control that is like a whole element that I always try to teach and it's about psychology and same with greed also takes control to you buy a stock, it goes up exactly where you said you're going to go. But rather than taking your profit, you're like maybe it'll go higher. I'm going to hold onto my GMC or AMC stocks. And now look at it all the way back down. You're still left holding the bag.

Average Joe Finances: 18:10

That's a great point. There's a lot of emotional aspect to it. Actually the person I interviewed earlier today, it's great because they're a financial coach. And one of the things we were talking about is the emotions tied to money. And I feel like, Any type of transaction that involves you taking your money and giving it away or putting it into something else, there's a lot of emotion attached to that. So like when you're out there and you're trading and you're buying stocks, each time you make one of those purchases it's an emotional. Thing, right? So when it comes to being able to control your emotions, like one of the things you just mentioned too, about the greed Hey, you, you hit your target and you're like, Oh, but it's still going strong. I'm going to hold off a little bit longer. And then by the time you realize, okay, I'm going to get out, it already dropped back down. And like you said, you're holding the bag. So I think, it's really important to, to not disconnect the emotion, but understand the emotions when you go into making any type of purchase, no matter what it is. And once you understand that you could start to get better control of your emotions when it comes to making a trade. Would you, does that make sense?

Anmol Singh: 19:17

Yeah. 100 percent and I think it's all about not only just controlling the emotion because, you can never eliminate it. We're human. We can never eliminate emotion. People have tried. It's never going to work. You're going to face it. The key is to notice it. Okay. I got this thing, but okay. But my trading plan says I'm going to do this. So coaching yourself to always say, okay, but my plan says I'm going to do this. So then you stick to the plan and plans should be black and white, just like a business as a business plan, just like if you own a shop and you have a bunch of items for sale, you have a sale price. That's what you're going to sell it for. You're not going to be like, you know what? I think inflation's today a little bit higher. People can afford more. I'm going to charge more. No, you're going to sell it for what your business plan said you're going to sell it for. And the same thing with trading is that need to learn how to, eliminate, you can't eliminate, but controlling the emotion, not acting on it. Just think about it, especially I don't know about you, but as men, we have thoughts all the time. If you act on every single thought you had, I'd be in jail, so it's okay to have your emotion, just not act on it.

Average Joe Finances: 20:11

No, yeah, that, that's important. And again, it comes back to controlling your emotions, and understanding that. As you've gone through what you've gone through, becoming the I guess more of a financial psychologist, or therapist with folks that you work with, you get a better understanding. Like I, same thing for me. Like I do financial coaching too. And a lot of. Yeah. The stuff that I deal with folks that are having trouble when it comes to keeping their finances in order. It has a lot to do with emotions and mentality, right? What their thought process is when they get paid. What their thought process is when they pay off debt. What their thought process is when they save up money, right? It's the same thing here. It looks like that. What is your thought process when you buy that stock that you want to trade? What is the plan that you had for that? Stick to your plan. Don't, don't swerve and go outside of that plan. It's the same thing when you're doing your budget and your spending plan, right? You have a goal and you do what you have to do to get to that goal. You don't deviate. And if you deviate, you have to make up for that on the backend somewhere. So it'd be the same thing here. If you're. Deviating from your plan. You're going to make up on the back end somewhere. Like you said before with the greed thing holding until it drops guess what? That's the back end that you just made up for you wind up losing, or just breaking even So those are the things that you really have to get a hold of yourself to take control of now when it comes to It is very difficult to gain control of your emotions, right? It's a very challenging thing. So what is something that you do to help your, help the folks that you work with, get a better understanding of how to control those emotions when it comes to getting into any type of trade.

Anmol Singh: 21:50

Yeah, one thing is I never try to control him or I never try to balance things, right? Okay, people are like, oh we should have balance. We should have control. You cannot control it, right? That's just my philosophy you can try but the moment you say I'm gonna try to control it What's your unconsciously saying? I don't have control over it. So you're already admitting defeat before you even try to do that So I try not to control it. I just be like, all right, this is the emotion but okay now Let's so you basically plant a different emotion. You're all right This is the emotion that's coming in. This is the thought that I have. Okay, but what is my plan? So you keep training yourself into, as Carol Dweck says, the growth mindset, right?

Average Joe Finances: 22:25

Yeah, so remove the emotion.

Anmol Singh: 22:27

Exactly. So you're not saying, okay, this went wrong. I'm going to be emotional about it. Okay, this went wrong. What are we going to do about it? What, how can we fix this? What does my trading plan say? Is my plan tested over time? Okay, it's been back tested. What, I had nothing to worry about. At the end of the game, if the longer I keep trading, If the statistics maintain themselves based on my plan, then this loser is just part of my statistic. That I know if I'm going to take 10 trades, I'm going to lose four of them. I'm going to win six of them. All right, great. This loser is just one of the four. So you train yourself to do that. And definitely I don't try to control them. Cause I, I tried, it doesn't work out. Cause you're the, now you're too tied up in that emotion. You forget about everything else. You forget about the next trade, the next opportunity, cause your eyes are not open. You're busy controlling things.

Average Joe Finances: 23:10

That's very fair. That's a very good point. Remove the control aspect and actually just remove the emotion altogether. Like you have the plan, just stick to the plan. And like you said, not everything's going to be a winner, right? You had four things going on and one of them's a loser. The other three are winners, but that's fine that it makes up for it, but it's part of the plan, right? So you're able to get a really good, actually, you do get a really good sense of control just by doing that. Cause now you're controlling your plan. Because you're acting it out the way it's supposed to be done. So I, yeah, absolutely love that. Now, obviously you've been very successful when it comes to your trading, right? And you've been doing this for a little while now ever since your entire adult life, right? So when it comes to being successful, what does that actually mean to you, especially when it comes to being a trader, what is success?

Anmol Singh: 24:04

Yeah, great question. And I think everybody will have a different definition of success. And my definition of success has definitely evolved over time. When I started, it was all about profits, right? What am I going to make on this trade? So all about profits about monetary thing, and that's when I didn't have any money. So rightly, so that was the definition of success. And to a lot of people, that still is the definition of success, because that's how that's the only thing people measure. That's the only thing people keep a track of. But then as I got older, I realized that's not the only thing, right? Because if my health is a mess, then well. I'm not, am I really successful? Probably not. Or maybe I'm super rich and I'm super in shape, but let's say your relationships are a mess. You can't even get along with people. Is that truly success? Probably not. So then I realized that it's a harmony between all areas. You have to have your finances in order. That is definitely in my opinion, step one, because once you have that, you can give time and money to other areas, right? Then the step two is health. No doubt about that. I realized that I was traveling all over the world, chasing the money dream, chasing the business dream, put on a lot of weight, just ruining my health, partying too much. And then I realized that's not really successful, right? That's not really successful this year. Specifically, my goal has been health. That's, and with the right finances, I can do that. I could devote time to it. I could hire a chef. I can hire a trainer. I can do all those things that I wouldn't be able to do if my finances were in order. So I think it's the harmony between all areas. But then more importantly, being okay internally with yourself, with where you're at in each of those areas. If you feel like you're not okay with it you can never be truly successful if you're worried about one thing. So you need to be okay with where you're at in each of those areas and always give time and devote time to each area.

Average Joe Finances: 25:40

Yeah, love that. Actually, after this podcast episode, now I'm going to go to the gym because you got me feeling all motivated for that because I got to take a turn on my health too. I retired from the Navy and I've been home for a year now and I gained weight and I'm like, oh man, I was like, I thought being home more, I would, take more time to work out, but I've just, I've been finding myself employing myself with more things to do. And it's Oh, I'm I put some stuff on the back burner. So I appreciate you talking about that because I think that is important, right? Finances is great, but you also need that health, you need to invest in yourself. Cause if you don't, what are you making all this money for, there's going to be nothing left of you. If you just give yourself to just that one thing. So that is super important. I believe you need to be well rounded just in general, the financial aspect, your health, your spirituality, your relationships, things like that. There just needs to be a good harmony. When it comes to you as a person, right? It's not just one thing in one focus. So I think that's super important now. Okay. So when we talked, you, when you're going over like your background and stuff, and you were talking about what trading was to you it's not just, investing in a stock or doing some day trading or doing some overnight holds and things like that. You had also mentioned you invest in small businesses. You've got some real estate. So you've got a lot of experience in all these different areas, the big hot topic nowadays and like the rise and fall of this, I'm really curious what your thoughts are on crypto, because I've seen a lot of people that talk about trading crypto and they're like, Oh, you can make so much money trading crypto. But then I see a lot of people that are involved in the stock market. Don't really trade crypto that much. And I'm curious to what your thoughts are on that.

Anmol Singh: 27:23

Yeah, I mean in terms of trading you can definitely trade crypto because it works the same way I always tell you if you know how to read charts doesn't matter if it's a chart of Crypto doesn't matter if it's a chart of a stock doesn't matter if it's a chart of Wheat corn futures, the chart is a chart So if you know the patterns are the patterns charts of the charts that work the same way and everything So for me, there's no difference whether you're trading crypto or you're trading the stock market the reason I trade stock market is because I have a longer time of back test available. I can go back all the way till the 1800s and have my data be rock solid. Whereas the data that I would have on crypto is just a few years old. So that's why I trade a stock that's more predictable for me, but charts of the charts, you can trade anything you want. Now, as far as my opinion on crypto, I think crypto is obviously here to stay. There's no doubt about that because my opinion is technology is a one way street. Technology never goes back. Once the cat's out of the bag, it's out of the bag. It can never, it can't go back in it. So it's a one way street. Now, just like with any new technology, there's going to be winners and losers, right? There's going to be scams along the way as well. And we saw that during the dot com bubble in the year 2000, where every internet stock, anything that has a dot com at the end of it was just going up. There was a company called rock. com used to sell rocks, right? Their stock went up berserk in the year 2000, right? And then what happened? All the technology stocks crashed in the year 2000 and then came a few winners emerged. Apple, Microsoft, Google, Amazon, rest of them all died, right? But even those big companies, Apple, Amazon, during the 2000, they fell 80, 90 percent before they came back. So same exact thing is happening with cryptocurrencies. It's the, we're in the early stages of internet. That's the best analogy I can give you. So everything would go up because hype, right? Marketing, it's new, everything goes up. Then everything comes back down, which we also saw recently. Majority of the other coins are down 80, 90%, right? And Bitcoin and stuff were also down 40, 50, 60 percent at one time. So when this winter ends, which you're probably going to be around 2025, then there's going to be bunch of currency. They're going to die out, but you already seen some of them gone, right? FTX is currency is gone. The Tara Luna thing is gone. A bunch of others are gone. There's going to be a lot more that are going to not exist after 2025. And then there's going to be a few winners that are going to emerge. And I don't think Bitcoin is one of them.

Average Joe Finances: 29:39

You don't think Bitcoin is one of them?

Anmol Singh: 29:42

100%.

Average Joe Finances: 29:44

Okay. Bitcoin's like the OG, man. I figured Bitcoin was here to stay.

Anmol Singh: 29:49

Yeah, AOL was the OG of the internet days, right? And then better, faster technology, better, faster technology came and they overtook it. And same thing with Bitcoin. Bitcoin is outdated. It's clunky. It's old. If I send you money right now through Bitcoin, it might take 15, 30 minutes for you to get it. So it can never be used to find a power, the financial systems of the world. So you need a faster, better technology. I can sell you right now. You can get instantly, why would I send you a Bitcoin and wait 30 minutes? So I think that plus quantum computing is on its way, right? And Bitcoin is not quantum secure cause it's way too decentralized. So now if something, a hack happens on the protocol, you cannot make changes to the technology. So we're stuck with a quantum computing hack, which is on its way already. That combination of other things high fees. It's just very clunky. This is the AOL of the you know cryptocurrency.

Average Joe Finances: 30:38

All right. I'm going to be looking out in 2025 and if Bitcoin goes away, dude, that I'm going to, I'm going to, I'm going to play this episode over and over again and be like, Hey, look, I'm all said, back in 2023, that's awesome.

Anmol Singh: 30:54

Yeah, 2025 might not go away, but it's going to exist, but you're going to see one more big run up. That's my opinion. Gonna see one more big run up. It might even go to a hundred thousand, but that's gonna be the last run up that it'll ever have when institutions get a chance to get out at those spikes, and that'll be the end of it. But it might be longer than 2025. I'm just saying the other smaller cryptos currencies will start to emerge around 2025, and then the smaller ones that are scams or that don't have any uses will all die down.

Average Joe Finances: 31:22

Sure. So yeah, so you think it'll be similar to the dot com? Bubble that burst because yeah, like you said, there was a, a couple of that, that emerged victorious and AOL was not one of them, you had Google, you had Yahoo and yeah, so that's huge. No. Okay. Fantastic. I really appreciate your take, especially when it comes to cryptocurrencies, hey, if you have the data, you have the charts, a chart is a chart. But for you in particular, you've got that, you feel more comfortable with the stock market because you've got all these. Decades and decades plus of data versus, 567 years of data. So I think that's that's super important. So just for folks that are listening, if you're trying to figure out what it is you want to get into, and I'm not saying crypto is bad, if you're looking at the data you have a lot more data to go off of in the stock market versus. Crypto. So that's awesome. Now Anmol, what I'd like to do now is transition this into something that I call the final round. It's where I'm gonna ask you the same four questions I ask everybody that comes on the show, and it gives us a good idea of how you are under a little bit of pressure, which I'm pretty sure you're gonna crush this because you crush this entire interview so far. If you're ready to go, we'll get that party started.

Anmol Singh: 32:31

All right. Let's do it.

Average Joe Finances: 32:32

All right, let's do it. Anmol first question in the final round is. What's the biggest mistake you've ever made when it comes to your finance or business life?

Anmol Singh: 32:42

Adjusting my lifestyle too quickly to the new income that I was making. So then you're in the same boat.

Average Joe Finances: 32:49

Wow. That's yeah, short, but sweet, but man, impactful, very impactful. Yeah. Cause if if you start being really successful at something, you increase your income and you adjust it right away. You use a lot, you lose a lot of that humility, right? You're it's hard to humble your humble yourself at that point. So I definitely appreciate the transparency there. Okay. Next question. These all kind of tie into each other on mall is what is something that you've learned? That you wish you knew when you first started out.

Anmol Singh: 33:22

Um, good question. I would say, practicing a lot more of my emotions, because and balancing things, as we were talking about earlier, like not neglecting my health to chase a money dream, focusing on that first, focusing on that, like a holistic approach, harmonizing all areas rather than. Being super focused on one thing and just forgetting everything else. That could be a trap that a lot of entrepreneurs like me could fall into.

Average Joe Finances: 33:47

Yeah, absolutely. Again, appreciate the transparency there. And those are the things you got to try to avoid, right? A lot of times you get yourself in a position where you actually wind up trapping yourself. So I think that's very relevant for a lot of folks that are listening to this right now. Okay. Next question is, do you have any tips or tricks that you would recommend to someone that is just getting started today?

Anmol Singh: 34:11

tIps as it relates to investing.

Average Joe Finances: 34:14

Yeah. So some, somebody's just, they want to get started today. What would you tell them?

Anmol Singh: 34:19

First thing I would say is don't wait, right? Get started right now. And you need to have an investing plan, even if you don't want to trade, everybody should be investing in the markets because market is always higher than where it was 10 years ago. So just notice that take a longer term approach every month, whatever you're getting, take at least 10 percent of that. Don't even look at it. Auto invest it, put it to a side because when money is sitting in your bank account, it'll find ways to leave your bank account. That's just the nature of money. You'll find an emergency. Some expense would come up. You didn't foresee it. Money will go. So just take automatic investments, tuck it aside. It'll, give you a good headstart for your future.

Average Joe Finances: 34:55

Fantastic. Definitely. Yeah. Great answer, man. That's especially when it comes to the audience of this show, that is definitely something that will resonate with a lot of folks because. It's something I've experienced myself. If the money's sitting in the account, you'll find a use for it. And it might not necessarily be the best use for that money because it's not giving you any type of return. So I like making my dollars work for me to make me more dollars. I think that's a lot of people are fans of that. So I think that's a very important way to get started. Okay. Final question of the final round on mall. And I'm going to preface this with, besides your own, do you have a favorite business investing or real estate related book or podcast or both?

Anmol Singh: 35:39

Business related book, invest or podcast. I would say that Werner Erhard, I don't know if it's not very popular but Werner Erhard's books, if you can read it those are really good on psychology and a mindset. I think and it's probably the leader and the. Person who developed all of the personal development that as we know it today. So I think that is a really good resource to have. And as far as podcasts I'm a typical kind of Joe Rogan, Ed Milet, Lewis house, those kinds of podcasts that are pretty popular out there, Lex Friedman. So there's not one, that was your question, but, named a few there, but yeah, in relation to books, Werner Erhardt's books, all of them, read them. Those are really good because that's all about mindset and with the right mindset, you can make a lot of things work, but the wrong mindset, you can have the best thing in the world and you can still find a way to ruin it.

Average Joe Finances: 36:31

Oh, I love that. I love that mindset is the most important thing that any investor has in their toolkit. 100 percent so definitely appreciate that. Okay. So that is it for the final round on mall. However, I do have another question for you. And this one is the most important question I'm going to ask you this entire interview because people will listen to this saying, man this guy knows what he's doing. I want to know more about him. I saw he wrote a book. I want to learn about that book. So where can people find more information about you? Can you share your website with us? Any social media profiles we can follow? And of course, where can we get your book?

Anmol Singh: 37:06

Yeah, definitely. So if somebody wants to get in touch with me Twitter and Instagram is the best place to do it. My username on both of them is Delta Ninety, DELTA NINETY had a long time ago when those platforms came out and then they got verified and I couldn't, I can't change it anymore. So we're stuck with Delta Ninety. That's where they can follow me. But as it relates to my book, Amazon Barnes and Nobles are prepping for success. com. You can get more information about the book. And if you're somebody who's looking to get started in trading or investing, definitely down to help you. Go to live traders. com and if you make a free account there, You're going to get my free introductory to our course and a guide That'll give you all the information you need and maybe you watch it realize this is not for me You can leave right? But if it is for you, then you could proceed further from there on

Average Joe Finances: 37:52

Absolutely. Definitely appreciate you sharing that with us. I'll make sure we have those links in the show notes to make it easy for our listeners to copy and paste and click away. I only ask that you don't do it if you're driving right now. So definitely appreciate that. Okay. So Anmol, this has been fantastic. I really appreciate you taking the time to talk with me today. I do want to ask you one more thing to close things out. Do you have any final thoughts for our listeners?

Anmol Singh: 38:16

Yeah, I think my final thought is just whoever's listening, be a man or woman of integrity, right? Do what you said you're going to do and do it when you said you're going to do it. Because oftentimes we have these great ideas. We say we're going to do things and then the time comes and we don't do it. We procrastinate. We push it to a side. So don't be one of them. If you learn something from this podcast on this conversation, then act on it, right? Don't just move on and listen to another podcast, another episode and get stuck in that loop. Learn what you learn and then act on it. That's how you'll improve your life.

Average Joe Finances: 38:46

Absolutely love that. Yeah. Don't get stuck on a loop unless it's my podcast and you can just keep listening to all of them, but make sure you take action. No, I'm really appreciate it, man. Thank you so much for taking the time out today to talk with me. This was fantastic. I thought we had a great conversation. You're super awesome at what you do. I feel like I learned a lot just from having this conversation with you. So a lot of good golden nuggets for our listeners. So again, thank you so much, man. This was fantastic.

Anmol Singh: 39:11

Yeah. Really good chatting with you as well. Thanks for having me.

Average Joe Finances: 39:14

Absolutely. And Hey, to my listeners, I want to thank all of you so very much for joining me and our special guest Anmol Singh on the Average Show Finances podcast, go leave us a five star review and tell us what you liked about today's episode with Anmol. Aloha from Hawaii and have a great rest of your day.