Our guest today is Kunal Desai. Kunal is an American stock trader and CEO of Bulls on Wall Street, an online trading academy. He began trading in 1999 and has spent most of career perfecting momentum based day-trading strategies.
In this episode we talk all about what it takes to day trade stocks. Kunal shares lessons he learned from his early days, the importance of finding mentors, and why being accountable is a winning trait for a trader.
He then dives into his trading philosophy, stressing the importance of combining fundamental catalysts with technicals, and how he prefers to focus on the macro health of the market for his swing trading.
During the last 20 minutes we switch gears and dive into cryptocurrency where Kunal shares tips and strategies for trading digital assets.
Kunal brings a lot of energy and positivity to this episode and If you’re an active, tactical trader, this one’s for you.
Please enjoy this episode with Kunal Desai.
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This episode is sponsored by Investor’s Business Daily. IBD has helped investors navigate every market cycle with their time-tested methodology for over 35 years. Right now Smarter Trading podcast listeners can get their first 2 months of IBD Digital, a subscription service that gives you access to IBD’s proprietary market analysis and top trade ideas for only $20 by signing up at investors.com/evan.
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What you'll learn in this episode
0:00 Introduction2:40 Being a humble trader and having fun trading5:15 Trading knowledge, putting in the screen time, & mentors10:00 Creating accountability with your trading13:20 Kunal’s trading approach: trends, catalysts, and macro plays 16:55 Swing trading philosophy using market internals20:45 Day trading strategies and philosophies23:10 The importance of trading with a catalyst31:40 controlling emotions and the self-talk as a day trader37:50 Looking at your PNL throughout the day 40:25 Looking for range in stocks and the dangers of small caps49:15 Trading cryptocurrency opportunities, risks, time-frames
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