{"id":1385,"date":"2018-10-08T06:00:35","date_gmt":"2018-10-08T13:00:35","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=1385"},"modified":"2019-04-05T11:58:46","modified_gmt":"2019-04-05T18:58:46","slug":"ep66-tips-for-success-arick-russell","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/ep66-tips-for-success-arick-russell\/","title":{"rendered":"Tips for Success with Arick Russell"},"content":{"rendered":"\n<div id=\"backtracks-player\" data-bt-embed=\"https:\/\/player.backtracks.fm\/st\/steadytrade-com\/m\/ep-66-tips-for-success-with-arick-russell\" data-bt-theme=\"dark\" data-bt-show-description=\"false\" data-bt-show-comments=\"false\" data-bt-show-art-cover=\"true\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Episode 66: Tips for Success with Arick Russell<\/b><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">This is possibly the most ridiculous SteadyTrade podcast ever \u2026<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Not because of who the guest is (the amazing Arick Russell) but because Stephen shows up in a neck brace \u2014&nbsp;<\/span><a href=\"https:\/\/www.youtube.com\/watch?v=9YBZD6xjfwo&amp;feature=youtu.be\"><span style=\"font-weight: 400;\">check it out on YouTube now<\/span><\/a><span style=\"font-weight: 400;\"> and see for yourself. &nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">But back to Arick. We\u2019ve featured superstar trader Arick Russell <\/span><a href=\"https:\/\/www.steadytrade.com\/arick-russell\/\"><span style=\"font-weight: 400;\">before<\/span><\/a><span style=\"font-weight: 400;\">, and we got into the nitty-gritty of how he found his way and developed a style as a trader. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">This was one of our most popular episodes to date, and plenty of listeners have requested him back. We listened, and this time, Arick shares his key tips for stock market success. <\/span><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><b>An Exciting New Approach to Trading <\/b><\/h4>\n\n\n\n<p><span style=\"font-weight: 400;\">What\u2019s been going on with Arick? He speaks about one very interesting development: how he\u2019s begun using penny stock strategies to trade bigger stocks, including IPOs (initial public offerings). <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Why use this method? For one, it lessens your emotional response and stress. For another, it\u2019s accessible to penny stock traders. As Arick reveals, you can even use this method with a small account.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">This method developed from his desire to maximize opportunities and make profits every day. So if the penny stock sector isn\u2019t moving, he wants to have an option for something else to trade. This is his way of taking advantage of the trends and movements of the market. <\/span><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><b>Arick\u2019s Tips for Success<\/b><\/h4>\n\n\n\n<p><span style=\"font-weight: 400;\">Throughout the episode, Arick talks with hosts Stephen and Tim about some of his key tips for success. Some of the gems included: <\/span><\/p>\n\n\n\n<ul><li style=\"font-weight: 400;\"><b>Consider options. <\/b>Want&nbsp;<span style=\"font-weight: 400;\">to grow a small account? Try trading options. Arick talks about his experience and how he has profited from this trading method.<\/span><\/li><li style=\"font-weight: 400;\"><b>Don\u2019t look for the &#8220;holy grail&#8221; indicator. <\/b><span style=\"font-weight: 400;\">Every trader asks: What&#8217;s the main indicator I need to know? What should I be using on StocksToTrade to figure everything out?<\/span><\/li><\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">Unfortunately, there\u2019s not one answer. It takes time to go through the process, and you\u2019ll find what works for YOU. You\u2019ll hear Arick\u2019s breakdown and he\u2019ll share his thoughts on popular indicators like VWAP and more. <\/span><\/p>\n\n\n\n<ul><li style=\"font-weight: 400;\"><b>Don\u2019t be arbitrary. <\/b><span style=\"font-weight: 400;\">Arick talks about position size. Where should you position yourself, and how do you know when to add to your position? Make sure you have a plan. Don\u2019t just choose a number. Look at the big picture and have conviction in your setup.<\/span><\/li><li style=\"font-weight: 400;\"><b>Take \u201cgood news\u201d with a grain of salt. <\/b><span style=\"font-weight: 400;\">Don\u2019t believe the hype. Always do your own research and look at the charts, because a lot of company news is actually self-serving. You\u2019ll learn about how to read between the lines on a press release.<\/span><\/li><li style=\"font-weight: 400;\"><b>Penny stocks can be tricky. <\/b><span style=\"font-weight: 400;\">Penny stocks can seem glamorous. But in spite of what you might see on Twitter, they\u2019re not regularly making people 200 percent a day. So it really has to be a good trade to get into the game.<\/span><\/li><\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">Arick talks about how to approach a penny stock trade, looking at trends rather than just potential profits. <\/span><\/p>\n\n\n\n<ul><li style=\"font-weight: 400;\"><b>Getting into higher-priced stocks. <\/b><span style=\"font-weight: 400;\">He talks about getting into higher-priced stocks if you\u2019re a penny stock trader. How to watch the market first, and what to look for that can serve you well.<\/span><\/li><li style=\"font-weight: 400;\"><b>Be flexible. <\/b><span style=\"font-weight: 400;\">Don\u2019t be so biased that you only do one thing as a trader. Yes, you should focus on what works, but when it\u2019s not working, don\u2019t force it. Lose the bias; not everything is black and white. If the market shifts, be able to shift with it. <\/span><\/li><li style=\"font-weight: 400;\"><b>Don\u2019t rush out the gate.<\/b><span style=\"font-weight: 400;\"> Crazy things can happen directly after the market opens. \u201cAvoid the first 10 minutes like the plague,\u201d advises Tim. \u201cBe patient,\u201d says Arick.<\/span><\/li><li style=\"font-weight: 400;\"><b>Don\u2019t trade all the livelong day. <\/b><span style=\"font-weight: 400;\">Arick talks about the psychology of morning losses and the FOMO that makes you want to \u201ccatch up\u201d \u2014 <\/span><i><span style=\"font-weight: 400;\">this is exactly when you MUST walk away from your computer<\/span><\/i><span style=\"font-weight: 400;\">.<\/span><\/li><li style=\"font-weight: 400;\"><b>Technical versus Fundamentals. <\/b><span style=\"font-weight: 400;\">What\u2019s more important: technical or fundamental research? While Arick identifies as a technical-based trader, he talks about the importance of fundamentals too. You may be surprised by what he says!<\/span><\/li><li style=\"font-weight: 400;\"><b>Do it because you love it. <\/b><span style=\"font-weight: 400;\">Anybody can try trading, but few will succeed. If you want to be a success story, do it because you\u2019re passionate.<\/span><\/li><\/ul>\n\n\n\n<h5 class=\"wp-block-heading\"><b>Got Questions?<\/b><\/h5>\n\n\n\n<p><span style=\"font-weight: 400;\">Do you have a question about this episode? Visit the <\/span><a href=\"https:\/\/www.steadytrade.com\/submit-your-audio\/\"><span style=\"font-weight: 400;\">\u201csubmit your audio\u201d<\/span><\/a><span style=\"font-weight: 400;\"> portion of the website to ask us anything.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Thanks for tuning in to the SteadyTrade Podcast. Stay tuned for weekly episodes featuring the hottest topics for traders of all levels.<\/span><\/p>\n\n\n\n<p><b>Did you love this episode? Be sure to leave an <\/b><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/steady-trade-the-profitable-side-of-trading\/id1275946076?mt=2\"><b>iTunes review<\/b><\/a><b>!<\/b><\/p>\n\n\n\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" width=\"1080\" height=\"608\" src=\"https:\/\/www.youtube.com\/embed\/FB5WcH7BWYo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Episode 66: Tips for Success with Arick Russell This is possibly the most ridiculous SteadyTrade podcast ever \u2026 Not because of who the guest is (the amazing Arick Russell) but because Stephen shows up in a neck brace \u2014&nbsp;check it out on YouTube now and see for yourself. &nbsp; But back to Arick. We\u2019ve featured [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":1396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tips for Success with Arick Russell - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"This is possibly the most ridiculous SteadyTrade podcast ever\u2026We\u2019ve featured superstar trader Arick Russell and we got into the nitty gritty of how he found his way and developed a style as a trader. 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