We recently caught up with Kunal Desai, Founder & CEO of the hugely successful online trading academy Bulls on Wall Street, to hear about how he built his company from a simple chatroom and blog series into a major player in the trading industry. Today, Bulls on Wall Street offers a much wider range of services than it did when Kunal first started the company, and Kunal, who still teaches Bulls on Wall Street online courses, has established himself as a go-to trading expert. Read on for more about how Kunal has grown Bulls of Wall Street into a success story, and for some valuable advice for would-be traders.
Tell us about your life before founding Bulls on Wall Street?
Kunal: I was just like everyone else. I had a desk job. I worked as a head hunter living in Michigan, where I grew up. I was good at it, and I kind of liked it. But I never enjoyed going to work; it was like going to the gym. Once you’re there, you do it – but you’re never excited to go! I thought about opening businesses and trading stocks around the clock. Even on my lunch breaks at work, I was always reading and looking at stocks. Before I started Bulls On Wall Street I was already dreaming about it. Working hard and studying to get to that point.
How did you eventually discover your true calling to launch BOWS and how did you know when the timing was right?
When it’s all you think about, it’s time. When you dream about it, it’s time. When you’re taking a shower and that’s what you’re thinking about, it’s time. There is never a right time. You will always be lacking something and feeling as though you need more experience or more resources. I had the passion to do it, and I knew that my work ethic would make up for my lack of experience and skills in certain areas. There is saying I read in Gary Vaynerchuk’s book that sticks with me: “SKILLS ARE CHEAP, PASSION IS PRICELESS!”
Who is your ideal student or what walks of life are your students normally from?
My students are from all walks of life! In my current class, I have an 18 year old as well as people in their 70s! Trading and investing is a lifelong skill. Everyone needs it and must learn it at some point. My ideal student is someone with a blue collar mentality. A grinder. The people that really stay and do well are the people who are focused on the process and on getting a little bit better each day. That grinding mentality helps protect our risk while also focusing on what’s important – the process! My best students work hard and have that mentality, and they’re very resilient. When things go wrong they can brush it off and start back at work the next day like nothing happened. Always focused on the process. All my great students share these traits: 10 Traits of Successful Students turned Traders
Has there been any trade over your career that gave you the biggest adrenaline rush?
I have a few trades like that. Recently I made $17,000 trading UVXY when the market was wild in January. It was a huge rush, but that’s not a good thing! Trading shouldn’t be a rush. The best trades are boring; we want to keep our emotions in check and trade in a way where we can think totally clearly. Whenever I get too excited, I usually step away to refocus. I go work out or go for a swim in the ocean.
When you make a bad trade, how do you not let it hurt your confidence and keep you from trading again?
It’s a numbers game! I always have to tell my students that. “On to the next one” is what we always chant in class. It’s ok to lose one or two. It’s a number game. I know if I take 10 trades I could lose three trades in a row, but if I stick to the process my next seven will be winners.
Can you tell us some stories about student success stories from your academy?
I’ve had some amazing students! Maribeth, who is my business partner now, was one of my first students. We worked together for months when she first started. She had such a knack for picking momentum stocks that I had to hire her! She has done great and helps me teach classes at Bulls On Wall Street. I have numerous other students like Oscar, who is a stay at home dad to four little girls and trades full-time! Trading gives him that flexibility to stay with his kids and work.
You also like to travel frequently, how does running BOWS help you live that lifestyle?
I can work from anywhere – literally. I have my cell phone, and I travel with two laptops and a USB monitor. I’m a walking command center, anywhere in the world! I would never be able to do that sitting in an office. I usually bring my best friends with me when I’m traveling. We all work together.
How many countries have you been to?
I have been to a lot! I’ve been all over South America and Asia. Europe and Africa are next on my list. I’ve also had the chance to see much of the U.S. People always forget, but there are more sights and amazing places in the United States than anywhere else in the world. I often get in my car, start driving down the coast, and visit students all over this country!
What do you see as the future for BOWS?
I am so proud of what we have accomplished so far. We are just skimming the surface of what we can do. Right now, we are starting to build out some technology for charting and different ways to do classes. The sky is the limit. In the coming years, you will see us as a one-stop shop for trading, vertically integrated in all facets of what a person would need in this business.
Learn more about Bulls on Wall Street training here.