158: How To Make A Living Trading Other People's Money - Jerremy Newsome

How To Make A Living Trading Other People's Money 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!