Scaling Up Trading With A Business
In episode 254 of the Desire To Trade Podcast, I interview full-time trader and business owner Siam Kidd. He shares how he's been able to create financial freedom and a great lifestyle through his own trading.
Siam has a very interesting story of how he transitioned into trading and how he had to learn to trade the hard way. Trading the daily chart, Siam Kidd spends a great majority of his time building businesses.
In short, Siam has used Forex trading as part of its other streams of income to become financially independent. His trading takes on from 5 to 10 minutes a day on average, which means that Siam has enough time to concentrate on other interests/passions/businesses.
Throughout this interview, Siam placed a lot of emphasis on the fact that replacing a full-time job with full-time trading is none sense. The goal of Forex trading is to increase the freedom in your life, and Siam Kidd sees trading as a stream of income.
Let's get started!!!
In This Episode, You'll Learn…
- Who is Siam Kidd and how he started trading [00:32]
- How did Siam start his trading journey [01:40]
- What prompted Siam to turn things around [03:17]
- How Siam's trading style changed over time [06:37]
- How Siam transitioned from manual trading to automated trading [10:28]
- What is the difference between an algo and a machine learning algo [15:12]
- How high is the bar to entry to trading with advanced algos [21:45]
- How was Siam's experience when looking for good programmers [24:11]
- How Siam manages trading and having a business [25:30]
- You first need to increase your trading account to make it an income replacement [28:10]
- What Siam tells traders that don't want to start a business to grow their capital [34:24]
- How Siam manages money investments between the businesses and personal [41:15]
- How to find Siam Kidd [48:15]
- And much more!
What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!
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- Complete Price Action Strategy Checklist
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How To Find Siam Kidd?
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!
