Interview With Jerremy Newsome Of Real Life Trading.Com
In today’s blog post I will be Interviewing and asking a few questions to Jerremy Newsome who is the founder of Real Life Trading.com
Thanks for joining me for this interview Jeremy I would like to ask you some questions about your business and what got you started etc.
1. What made you decide to become involved in trading ?
Very valid question. It took a while to know I wanted to ‘trade’, but ever since I was young, I knew I wanted to invest and grow money. There is a scene in my favorite movie Forrest Gump where he said “Lt. Dan invested in a fruit company and they didn’t have to worry about money any more”. Of course it was AAPL. I didn’t know it at the time but asked my dad what he meant and from then on, I was hooked!
2.What is the first advice you would normally give someone completely new, who has decided that they want to start trading?
Approach this just like if you were going to college. You are going to spend 2-4 years on education. However, once you are done, there won’t be any student loans and you have a skill that you can use for the rest of your life and make money, even while you sleep! (With the right strategies of course). Learning trading does take time, but I wanted to remove as many barriers as possible for newer traders. Many company charge thousands of dollars for stock market education. Real Life Trading has made this education for free! Many companies spend weeks, months or years covering the basics. I have found a way to make the complicated simple and our program only takes a few hours for someone to learn a substantial amount about trading.
From there, I remind traders, this is a profession as well. It needs to be approached like a profession. Our focus is creating a trading plan and following it with consistency and discipline, ensuring we do our best to lose very little money. Risk mitigation is key for long term trading, investments and growth over time.
3. Are there any advantages or disadvantages when it comes to trading based on where in the world you actually live or can you do it worldwide?
Great question. I don’t get that one super often. Well, I understand that even in 2016 there are still about 1 Billion people on this world without internet access. Actively trading the markets does require certain technological bridges to be in place. Internet access and a computer are pretty crucial these days, but not specifically required. One could call their broker and place orders over the phone of course (like traders did back in the 40’s-80’s.). However globalization has allowed traders from most 1st world countries to have access to the markets and exchanges. I can trade Chinese companies, German, Brazilian, Australian, Canadian, the list goes on. Of course, one pays a higher commission trading through another companies exchange, as opposed to their own.
I guess that’s a long answer. Here’s the short one. There’s a large chance, regardless of where you live, that you have the ability to trade within your own country and support it’s growth.
4. What is the best part of being the CEO of a trading company?
That’s a solid question! I like to boil it down by saying ‘what’s the best part of being CEO’. I’ve always wanted to own my own company. And now I do. I used to work for a fortune 500 insurance company and in my early 20’s, on a job performance under ‘where do you see yourself in 5 years’ I put CEO and I got laughed at during my interview. I was serious! Anything is possible in this world, as long as you know where your going and you know the steps to get there and you take them! Being CEO of a trading company allows me to do fun things in the industry. Most companies are pretty monotonous honestly. We do our best to spice up the industry! Teach people the real life aspect of trading, stocks, companies and relate it to products they use in life. Here’s an example. https://www.youtube.com/watch?v=xV_SEHAOrPQ&feature=youtu.be
5. If you had to start all over again in trading is there anything you would do differently?
Oh WOW!!! LOTS!! HAHA. When I first started out, I didn’t have anyone holding my hand and really teaching me how to mitigate risk on my trades. I blew up a few very large accounts and had to start from $0.00. It was when I was at my lowest and I realized there’s not much further I could go, I decided to forge ahead and make sure this didn’t happen to anyone else. Of course, If I had a time machine and could go back to 2008, I would have more money than is on this planet. Realistically though, I would start slower, with less money and learn the basics. I would not go in with a poker mentality and realize it simply takes time. Be patient, I would tell my self.
6. How many hours a day do you need to run this business if you want to build a five figure income?
How many hours a day…hmmm… well, first starting out, I went in knowing it was going to take a lot of work and time. I do not sell any educational products. We do have a trading room where we charge a reasonable monthly subscription, but that’s not our main focus. The mission of the company is To Enrich Lives. I figure if I can pour 10 hours a day, 5-6 days a week now, in 3-4 years reallifetrading.com might be the go to place for trading education. Facebook is free, LinkedIn is free and Twitter is free. I see a pattern. I realize it will take time, but anything worth doing, does. I know that many people will differ, but would like to get an idea of how long you need to setup this business daily to get a good return? Depends on the type of business. If done right, an internet company can begin to generate a nice profit in about 1-2 years. You’ve got to build a platform and a public interest. If any business person wants to make 1 million dollars, find a way to help 1 million people. Then, create the company or the site. The rest, is just time.
7. Did you ever work for someone else as an employee and if so what strategy did you use to get from that job.
Oh yeah! I’ve held many jobs, like most of you out there in the world. The strategies I learned are almost countless. The 3 main tools I’ve picked up on to start any business are as follows: Customer service, employees, budget. If you have exceptional customer service, you can sell any product and people will pay for the experience. If you have amazing employees, they will help spread the word and allow the company to grow with innovation. And a budget is pretty obvious. Stay within your means and grow, paying off debts and taking on larger and larger projects over time. Most great business always start with a WHY. Why do they do, what they do. And then, the WHAT. What do people need? What service are you providing. And in a business, if you have a truly special why people will always buy your what.
Interview With Jerremy Newsome Of Real Life Trading.Com