The American-born son of Indian immigrants, Kunal Desai is a successful day trader and the founder and CEO of Bulls on Wall Street…
Desai’s Early Years
Born and raised in Detroit, Michigan, Desai was on track to work for the Ford Motor Company, just like his engineer father, but felt he was meant to do more than sit in a cubicle all day. After witnessing his neighbor’s success with the stock market, Desai became motivated to learn about trading stocks, inspiring a life long love of the stock market.
Desai was one of many traders who began their trading careers during the 1990s Dotcom boom. In the beginning, he didn’t have a system or a methodology for his trading. This approach resulted in ups and downs while trying to build up his account, and he found himself floundering.
Mentored by Paul Singh
At the age of twenty-five, Desai decided that he needed more guidance and knowledge, and began searching for a mentor. Desai found a mentor in Paul Singh, who is now his partner at Bulls on Wall Street. Singh, a swing trader, took Desai under his wing and taught him everything he knew. He took Desai from hit-and-miss part-time trading to successful full-time trading.
Kunal Desai & Momentum Trading
Desai’s adopted a no-risk momentum style trading system, which he still uses today and teaches to his students. He calls it the “Free Trade.” When he makes even a small profit while buying and trading stocks, Desai will sell half, and then place a stop at his entry price, allowing the trade to further develop while risking only the house’s money. Most of his money is made on trades like this. He also admitted that one of the keys to his success was developing a morning ritual.
“Free trades allow you to rest a little easier, feel a little more free, and have less stress. This allows you to let a stock develop into what it’s going to do.”
Bulls on Wall Street
Desai’s success has allowed him to travel the world with his friends while continuing to trade and making money. In 2009, he launched Bulls on Wall Street along with partner and mentor, Paul Singh. Bulls of Wall Street initially started as a chat room and blog but eventually turned into an full-blown trading education company.
The company offers a 60-Day Trading Boot Camp that teaches the foundation and basics of day trading stocks. Kunal Desai teaches a class in the mornings and at night, and he does live trading in front of his students to help them become familiar with the entire process.
According to Desai, “The reason that the failure rate for traders is so high, it’s because most traders start out with smaller amounts of capital and gravitate towards penny stocks, which are all hit or miss. They’re a gamble.”
Desai goes on to explain that if these people gravitated towards a proper system, which is normal stocks that can move a lot, then the failure rate would be a lot less.
“You don’t have to worry about the price of the stock. You’ve got to worry about the range.”
Desai trades breakouts, pull-backs, swings, and intraday momentum moves. He also teaches these strategies to his Boot Camp students, recognizing how important it is for a trader to find a strategy that they’re comfortable with. Repetition is the key to learning and becoming confident in their trades.
“Man, I’m pretty good. I’m not going to lie, I’m not like the best trader in the world, but I’m good.”
Speaking Engagements & Bulls on Crypto Street
Because of his success in his personal trades as well as his Boot Camps, Desai is a popular speaker at conventions and conferences such as Traders4ACause and the Trader and Investor Summit. He has been featured in publications such as The Huffington Post and Inc. and has also appeared alongside Nathan Michaud, Gregg Sciabica, and other well-known traders in Tim Sykes’ Pennystocking Framework DVD course.
Desai has also found success as a cryptocurrency investor and trader, capitalizing on the new digital currency trend. He created a new company, Bulls on Crypto Street, which has become one of the world’s leading online communities for trading, investing, and mining cryptocurrencies.
Most of the time, you can find Kunal Desai running his 60-Day Trading Boot Camp. But when he’s not doing that, he’s traveling all over the world, enjoying his success as a day trader.