118: Setting Up A Prop Trading Firm At 21 Years Old w/ Sam Kavanagh

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Sam Kavanagh, is a Scottish trader with a uniuqe story to tell.

Probably the youngest trading prop firm owner in the world, Sam has been through it all. From building a team of profitable traders (some from scratch) to dealing with all the paperwork and regulations.

Today’s episode is a little different.

I dive deep into what it took for Sam to create a KB Trading Consultants, the techniques he used to recruit and develop his traders along with how he maintains his mental edge and the mental edge of those trading for his firm.

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Podcast Interview

Interview Links

Instagram – @sam__kavanagh
YouTube – Sam KB

Sam’s Oil Trading Strategy Explained

Key Lessons

[10:37] There’s a lot of good macro-economic factors coming into play in the markets.

[12:42] When you’re managing risk correctly, you’re not making as much as you are gambling.

[20:01] Trading is lonely.

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[21:14] You can teach someone to be a good trader but, you can’t teach someone to be a good person.

[30:18] Consistency comes from what you do.

[30:31] The trader themselves has the edge and not the system that they trade.

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[33:52] It’s the work that you put in to shape your mind that enables you to be a good trader.

[41:09] Having a decent journaling system is the only way to track your performance.

[47:34] Examine your feelings and your thoughts when you’re trading.