Paul Scott: 30 Year Institutional Trading Veteran Shares ALL | WOR Podcast | EP.123

On this episode of the Words of Rizdom podcast we are joined by Paul Scott. Paul started out on the London Metal Exchange in 1994 at 16. He got into the business via his father who was a copper trader for 25 years. Paul believes that it's all just one big game, with a set of rules that are passed down from one generation to the next, that historical levels can and will be reached and traded over and over again, that time is of no value and that the value of currencies has nothing to do with the value of real money. Paul shares from his 30 years of experience and industry secrets. Paul's Website: www.paulscottfx.com __________________________________________ Free Telegram Community! 👉🏽 https://t.me/pocketsofrizdom Free Trading Plan 👇 https://words-of-rizdom.ck.page/0542be7af0 __________________________________________ TRADEZELLA: All-in-one trading journal and analytics tool that provides valuable insights, trade replay, in depth reporting, and more to gain clarity, eliminate costly mistakes, and trade smarter. ⬇️Use Code “RIZ10” for 10% off your subscription ⬇️ https://www.tradezella.com/?via=riz ⬇️Use Code “WOR” for 20% off your yearly subscription ⬇️ https://www.tradezella.com/?via=riz __________________________________________ The #1 Prop Firm In The Entire Industry Alpha Capital. They have their own broker, their own technology, actual institutional experience and the best community in the prop firm industry. They also still support the best trading platform for all Traders with Platform 5! 👀 Use Code "RIZ" for 20% OFF ALL Challenges. 👉 https://app.alphacapitalgroup.uk/signup/RIZ 👈 __________________________________________ Riz’s Instagram: https://instagram.com/wordsofrizdom Riz’s Twitter: https://twitter.com/wordsof_rizdom __________________________________________ I hope you all enjoy this episode, let me know who you'd like to see on the podcast. 🙏🏽 SUBSCRIBE BELOW! Turn your notification bell on so you can be notified when videos like this get dropped. Drop a like on the video to help this channel grow. 💪🏽 __________________________________________ Timestamps: 00:00:00 - Introduction 00:05:11 - Starting in the Trading Industry 00:10:45 - Transition from Trading to Teaching 00:16:13 - The Changing Landscape of the Financial Industry 00:21:24 - Retail Trading Accessibility 00:27:05 - Technical Analysis: A Waste of Time 00:32:24 - Predicting Market Movements 00:37:26 - Predicting the Market with High Accuracy 00:42:50 - The Value of Money and Understanding the Game of Trading 00:48:34 - The Importance of Discipline 00:54:02 - "Set and Forget" Trading Strategy 00:59:42 - The Role of Analysts in Trading 01:04:55 - The Importance of Letting the Market Show You Its Hand 01:10:11 - Risks of Investing in Crypto. 01:15:07 - The Retail Trading Industry and its Problems 01:20:28 - The Importance of Fishing for Trades 01:25:31 - Becoming the Best Loser on the Planet 01:35:20 - Learning from Different Perspectives 01:40:35 - Trading Floor Mishap 01:46:14 - Misinterpretation and Miscommunication in Trading 01:51:41 - Fast-paced and adrenaline-filled environment 01:57:08 - Importance of Networking with Other Traders 02:02:22 - Outro __________________________________________ DISCLAIMER: I am not a financial adviser. The videos on my channel are for educational purposes only __________________________________________ #trading #forex #forextrading #futures #futurestrading #daytrading #podcast #swingtrading #scalping