Bulls On Wall St Review
- Credibility of Educator
- Quality of Education
In this article, we take a critical look at the Trading Bootcamp course from Bulls On Wall Street. How does it compare to other courses, in terms of quality and price?
Bulls On Wall Street is a trading school founded in 2008 by Kunal Desai. The material they release is mostly focused on day trading and swing trading using technical analysis, time & sales, and level 2. Bulls On Wall Street is one of the more prominent trading education sources, due to their significant amount of advertising and content marketing. The company harness YouTube for their content marketing effectively. Their top viewed video, made by Kunal, has been viewed over one million times.
In this review, we’re going to talk about Bulls On Wall Street’s education offerings, and their trading style/philosophy.
“You could be doing this for 50 years. So what is a year or two, to really nail this down.” – Kunal Desai
Who is Kunal Desai?
Kunal Desai is the head honcho at Bulls On Wall Street. He is the trader creating and curating all of the educational content, so it’s worth knowing who he is, his track record, and if he’s someone that you think is worth learning from.
Desai started trading internet stocks during the dotcom boom, and got attracted to it through his “jackass” neighbor who got a BMW through trading Yahoo’s stock. After Kunal blew up multiple accounts chasing the BMW dream, he eventually paid a trading mentor, and according to him, he began to become a profitable trader.
After searching the internet and Bulls On Wall Street’s website, it doesn’t seem like Kunal Desai has a verifiable track record in the form of audited broker statements or something similar. However, if one has access to the BOWS chat room, they can measure his performance through his trade alerts.
If you want to learn more about Kunal and his personal/trading philosophy, you can listen to his hour-long interview with Chat With Traders.
Bulls On Wall Street’s Trading Bootcamp is their pivotal education product. Through this, they funnel their clients into their additional products like chat rooms and trade alerts. There are have been unverified reports of BOWS offering their clients memberships to proprietary trading firms.
The trading bootcamp offers live trading classes four nights per week for four weeks. These account for the first 30 days of the Bootcamp. The topics covered in the class are as follows:
- Market Fundamentals
- Technical Analysis
- Trading Styles
- Risk Management
- Trading Psychology
- Analyzing Market Indices
Here is what you get when you sign up for the trading bootcamp.
The Trading Bootcamp can serve as a shortcut for traders, giving them access to quality screen time. Many new traders stare at charts and trading platforms thinking that they’re achieving something, but if they don’t know what to look for, they’re not developing their chart-reading muscles. Watching Kunal, a veteran trader, analyze charts and review his trades is invaluable for new traders. This, in conjunction with prolonged education over a two-month time period is sure to give even the least experienced traders a feel for markets.
The general approach at Bulls On Wall Street is momentum-based trading. They find stocks that are experiencing catalysts like press releases, breaking news, or earnings, and they look for that event to be creating volume and price trend. From there, they look for some of their setups to occur.
It should come to no surprise that most, if not all, the analysis performed by BOWS is technical analysis. They don’t particularly care about the long term financial position of a company. However, this doesn’t mean they’re only focused on the short term. One of Kunal’s key trading principles is that the daily chart should be setting up as well. Meaning, you shouldn’t try to play an intraday uptrend pullback in a stock that is in a long term downtrend, it just has lower probabilities than trading the same setup with a harmonious daily chart.
Bulls On Wall Street have a few key patterns that they repeatedly trade and refer back to. These patterns are basic patterns that most traders have heard about and read about, displaying the relative simplicity of Kunal and BOWS’ approach.
One of the favorite patterns over at BOWS is the flag pattern. This is arguably the simplest of the chart setups deployed by BOWS. The pattern simply involves one candlestick/bar with a rapid rise or decline, with multiple following candlesticks that trade relatively sideways. The break of this pattern on either side is the trade entry signal. Kunal has said the following about the flag pattern:
“The most easiest pattern to play in all of the land of stocks, because it’s easily identifiable… easy to play”
The breakout is probably the most well-known trading setup, and one of the most frequently traded by the traders at BOWS. Kunal and BOWS specialize in breakouts in low-float stocks, due to their explosive nature.
They rank a potential breakout by the amount of times a stock touches it’s breakout pont. They call these “taps.” Kunal says that more than four “taps” are like “sex on the beach.”
Another favorite trading pullback is the more conservative pullback trade setup. This setup can be deployed in various styles, whether it’s a pullback to support or a moving average. The setup is as simple as buying a small dip in a stock that is in sustained trend. In an uptrending stock, you would wait for a small drop in price, while in a downtrending stock, you would wait for a small rise in price. These are higher probability, lower risk setups. Due to this, they are usually not explosive trades.
Here are a few rough rules that Kunal follows when trading pullbacks. Reverse principles for breakdowns:
- Pullback is smooth – price did not gap down to the pullback level
- Volume is lower on the pullback than it is when price advances
- Place your stop loss very slightly below the pullback “zone,” giving you a low risk setup.
There are countless trading chat rooms, education, and alert services out there trying to charge you thousands of dollars. Many traders ask themselves if any of them are worth it, let alone a specific service. This is among the hottest debates in the trading communities. For every trading seminar success story, there are countless others who blew up multiple accounts, never to return to trading.
Many of you reading this are wondering if Bulls On Wall Street will lead them to success. Nobody can truly answer that question, however, I will say it’s unlikely, for two reasons. The first is that the vast majority don’t do the necessary work involved. They may watch the seminars they buy, email the gurus, and put their advice into action, however, they don’t go deep enough. They don’t repeatedly study the most important concepts, they don’t go further than their guru. To put it simply, they don’t develop the necessary discipline to succeed in a field where so few thrive. The second is something many wouldn’t like to admit, but it’s true. It’s very unlikely to succeed as a technical-based trader. Studies show that technical traders only outperform the indexes during periods of high volatility. As a day trader, you are pressured to make trades everyday to make your living. Day traders have to chase volatility.
With that being said, the amount of value packed into Bulls On Wall Street’s Trading Bootcamp is massive. A few thousand dollars seems quite high to many, however, one must look at the return on investment they will get from the course. If you intend to stick with trading for the long term, especially if you intend to go full time, then a few thousands dollars looks like a blip in the radar through a macro lense.
I’m assuming the majority of the this post’s readers are in the market for trading education. If you do decide to purchase an all-inclusive trading education package after all, do your research first. Look at all of the offerings from this industry before throwing your hat in with the guru with the nicest Lambo.
Personally, I’ve learned a lot from Kunal and consider him a strong trader and teacher. The concepts/principles he teaches are all sound, and few others are able to simplify technical concepts like Kunal can. Keep in mind that Kunal’s bread and butter is momentum-based day trading.
- Courses offer a lot of content
- Chat rooms offer actionable momentum trade ideas
- Multiple success stories
- Clouded online reputation
- Unconfirmed allegations of illegal prop trading practices
- Expensive products
- Kunal has no audited trading track record