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

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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/pocketsofrizdomFree 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/wordsofrizdomRiz’s Twitter: https://x.com/wordsofrizdom __________________________________________ 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 - Introduction00:05:11 - Starting in the Trading Industry00:10:45 - Transition from Trading to Teaching00:16:13 - The Changing Landscape of the Financial Industry00:21:24 - Retail Trading Accessibility00:27:05 - Technical Analysis: A Waste of Time00:32:24 - Predicting Market Movements00:37:26 - Predicting the Market with High Accuracy00:42:50 - The Value of Money and Understanding the Game of Trading00:48:34 - The Importance of Discipline00:54:02 - "Set and Forget" Trading Strategy00:59:42 - The Role of Analysts in Trading01:04:55 - The Importance of Letting the Market Show You Its Hand01:10:11 - Risks of Investing in Crypto.01:15:07 - The Retail Trading Industry and its Problems01:20:28 - The Importance of Fishing for Trades01:25:31 - Becoming the Best Loser on the Planet01:35:20 - Learning from Different Perspectives01:40:35 - Trading Floor Mishap01:46:14 - Misinterpretation and Miscommunication in Trading01:51:41 - Fast-paced and adrenaline-filled environment01:57:08 - Importance of Networking with Other Traders02:02:22 - Outro __________________________________________ Disclaimer:

The content on Words of Rizdom is for informational and educational purposes only. We are not personally affiliated with any of the guests featured in our episodes. Our role is solely to interview them and share their insights, experiences, and expertise. The views expressed by our guests are their own and do not necessarily reflect the opinions or endorsements of Words of Rizdom.