Rayner Teo left his job to strike out on his own as an independent trader. In this podcast, he talks about his journey, and along the way he debunks common myths about trading your own money full time as a source of income.
Rayner Teo is the founder of TradingwithRayner.com, an independent trader, and the most-followed trader in Singapore. With a background in proprietary trading, Rayner shares his knowledge of trading through Youtube videos, podcast episodes and mentoring sessions. His Youtube channel has over 250,000 subscribers, and his blogs on trading attract 100,000 readers a month.
3 Things I Learned:
- Trading isn’t for everyone. Rayner says there are better ways to generate income than trading, and to reap substantial rewards, you need to first start with a decent amount of capital. So the myth that trading gets you out of the ‘rat race’ is untrue - it is a fulltime endeavour like any 9-5.
- Tailor your learning to your end goal - learning to trade doesn’t exist in a vacuum. Trading to generate income versus trading to grow overall wealth requires developing different trading strategies. So before you can learn to trade, you need to establish what you want to achieve by trading.
- Learn from others’ practice, not just theory - Rayner developed his trading strategies by a mix of seeing what worked for others, consulting resources and identifying patterns of knowledge.