{"id":1249,"date":"2018-09-10T06:00:33","date_gmt":"2018-09-10T13:00:33","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=1249"},"modified":"2019-04-05T11:58:12","modified_gmt":"2019-04-05T18:58:12","slug":"ep-61-catching-up-with-roland-wolf-p2","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/ep-61-catching-up-with-roland-wolf-p2\/","title":{"rendered":"Catching up with Roland Wolf, P2"},"content":{"rendered":"\n

Today, the Steady Trade Podcast presents the 11th part of a new series, where hosts Tim Bohen and Stephen Johnson share a few of their favorite trading resources. <\/span><\/p>\n\n\n\n

In recent episodes, they\u2019ve featured <\/span>Trader Checklist <\/span><\/i>commentary on clips from the Tim Sykes video. In this episode, as well as in the previous <\/span>episode<\/span><\/a>, the conversation continues with a special guest: superstar trader Roland Wolf!<\/span><\/span><\/p>\n\n\n\n

Be sure to check out this episode on YouTube to see the accompanying video. <\/span><\/p>\n\n\n\n

About <\/b>Trader Checklist <\/i><\/b><\/span><\/h2>\n\n\n\n

Trader Checklist<\/span><\/i> is a video by Tim Sykes that features 14 chapters of invaluable trading information. It\u2019s available for free online, so don\u2019t miss out. <\/span><\/span><\/p>\n\n\n\n

Awesome Giveaway!<\/b><\/span><\/h2>\n\n\n\n

To enter, first you need to watch <\/span>Trader Checklist<\/span><\/i>. Then, at the end of this multi-part episode, you\u2019ll be invited to take part in a quiz based on the <\/span>Trader Checklist<\/span><\/i> principles. Stay tuned!<\/span><\/span><\/p>\n\n\n\n

But first, some trading tips …<\/b><\/span><\/h2>\n\n\n\n

Before delving into <\/span>Trader Checklist<\/span><\/i> commentary, Tim and Stephen take advantage of Roland\u2019s expertise and discuss some relevant and important trading tips:<\/span><\/span><\/p>\n\n\n\n

Don\u2019t be a bag holder. <\/b>You\u2019ll learn some tips for avoiding the dreaded bag-hold. In stock trading, bag holding is when you hold onto a stock for too long. <\/span><\/span><\/p>\n\n\n\n

Unfortunately, bag holding is often a recipe for blowing up your account, so it\u2019s important to have a fundamental plan in place before you make a trade. <\/span><\/p>\n\n\n\n

The art of restraint. <\/b>Is it better to be quick on the trigger upon the market\u2019s open, as Roland used to be? Or, is a little watchful waiting more beneficial? <\/span><\/span><\/p>\n\n\n\n

This leads to an interesting conversation about the importance of restraint in trading. You\u2019ll learn why you need to read the market and how to be patient. When the time is right, that\u2019s when you grow your account more aggressively. <\/span><\/p>\n\n\n\n

What indicators should you look for? <\/b>Tim and Stephen grill Roland about his favorite indicators. You\u2019ll learn why catalysts are one of the things that will get Roland into an overnight trade, as well as his thoughts on filings, sectors, overall markets, time of day, and more.<\/span><\/span><\/p>\n\n\n\n

Now, back to the <\/b>Trader Checklist<\/i><\/b> commentary …<\/b><\/span><\/h2>\n\n\n\n

Clip: <\/b>According to Tim Sykes,<\/span> you have to learn how to take profits with volatile stocks. You want to be able to use the same strategy and rules over and over again. This requires discipline and restraint. <\/span><\/span><\/p>\n\n\n\n

The potential earnings aren\u2019t what matters. Don\u2019t try to go for a total home run. Rather, try to be reliable in making profits, even if they are lower per trade. The fact that you are profitable can be more important than bag holding and possibly experiencing a loss. <\/span><\/p>\n\n\n\n

The Steady Trade take:<\/b> If you ask Tim Bohen, this advice is sound; if you\u2019re gonna play the low-float game, you can\u2019t be out too early. Don\u2019t get greedy<\/em>. You could win big, but you could lose really big \u2014 and that would hurt even more than missing out on some profits. <\/span><\/span><\/p>\n\n\n\n

What does Roland have to say about this? He talks about how he locks in gains and manages to be detached from his remaining shares. He also offers more tips for how he keeps it a \u201cgood game.” <\/span><\/p>\n\n\n\n

Clip:<\/b> Here, Tim Sykes talks about why he sells when he does. Sometimes, his students are baffled by the timing, wondering why he didn\u2019t hold on longer. <\/span><\/span><\/p>\n\n\n\n

What are the benefits of giving it more time? Tim looks at the numbers, explaining his plan going into a premarket trade.<\/span><\/p>\n\n\n\n

The Steady Trade take: <\/b>Tim, Stephen, and Roland all go through the Sykes Sliding Scale (SSS) individually to determine their thoughts on Sykes\u2019s approach. <\/span><\/span><\/p>\n\n\n\n

They consider the market environment and evaluate: did Tim hold on just the right amount of time, or could he have benefited by holding on longer? It\u2019s not always a straightforward answer. <\/span><\/p>\n\n\n\n

Ultimately, you\u2019ll learn why it\u2019s important to consume as much information as possible, and lose as little as you can while learning. This is how you will figure out trading strategies from your successes and your failures.  <\/span><\/p>\n\n\n\n

Stay tuned for Roland\u2019s new DVD!<\/span><\/p>\n\n\n\n

You\u2019ll get a sneak peek of Roland Wolf\u2019s <\/span>upcoming DVD<\/span><\/a>, which is geared more toward long selling and helping new traders become profitable.<\/span><\/span><\/p>\n\n\n\n

Got something to ask? <\/b><\/span><\/h2>\n\n\n\n

Do you have a question for Tim and Stephen about the episode? Visit the <\/span>\u201csubmit your audio\u201d<\/span><\/a> portion of the website to ask us anything.<\/span><\/span><\/p>\n\n\n\n

Thanks for tuning in to the Steady Trade Podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders. <\/span><\/p>\n\n\n\n

Did you love this episode? Be sure to leave an <\/b>iTunes review<\/b><\/a>!<\/b><\/span><\/p>\n\n\n\n

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