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158: How To Make A Living Trading Other People’s Money (@Newsomenuggets)

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How To Make A Living Trading Other People's Money (OPM) ft. 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 make a living trading OPM (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 through 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 Jerremy Newsome usually has to start trading 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

 DesireToTRADE Top Resources

 How To Find Jerremy Newsome?

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!