{"id":1457,"date":"2018-11-12T07:00:39","date_gmt":"2018-11-12T15:00:39","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=1457"},"modified":"2019-04-05T11:59:13","modified_gmt":"2019-04-05T18:59:13","slug":"ep-71-no-remember-november","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/ep-71-no-remember-november\/","title":{"rendered":"No Remember November"},"content":{"rendered":"\n<div id=\"backtracks-player\" data-bt-embed=\"https:\/\/player.backtracks.fm\/st\/steadytrade-com\/m\/ep-71-no-remember-november\" 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<p><script>(function(p,l,a,y,e,r,s){if(p[y]) return;if(p[e]) return p[e]();s=l.createElement(a);l.head.appendChild((s.async=p[y]=true,s.src=r,s))}(window,document,\"script\",\"__btL\",\"__btR\",\"https:\/\/player.backtracks.fm\/embedder.js\"))<\/script><\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><b>Episode 71: No Remember November <\/b><\/h1>\n\n\n\n<p><span style=\"font-weight: 400;\">With Sober October over, it\u2019s time to advance into No Remember November. In this episode of the SteadyTrade Podcast, hosts Tim Bohen and Stephen Johnson are ready to party, but rather than with drinks or drugs, it\u2019s with paper. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Yes, you heard that right: It\u2019s a paper trading party, as Tim and Stephen review the first week of the SteadyTrade Paper Trading Challenge! <\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>About the SteadyTrade Paper Trading Challenge <\/b><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">For the next several weeks, both Tim and Stephen will each act as mentors to teams of three traders looking to develop their trading prowess. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Each trader started with a paper trading account of $30K, and with the guidance of their mentors, are hoping to build their accounts as much as possible.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">In <\/span><a href=\"https:\/\/www.steadytrade.com\/ep-69-paper-trading-challenge-meet-the-contestants\/\"><span style=\"font-weight: 400;\">Episode 69<\/span><\/a><span style=\"font-weight: 400;\">, you met the contestants. This week, they began to get their feet wet and execute their first paper trades. So how are things going? <\/span><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><b>Tim\u2019s Team<\/b><\/h4>\n\n\n\n<p><span style=\"font-weight: 400;\">For the first few days, Tim told his team to do their own thing. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">All of his team members have a somewhat established routine, so he wanted to first see what they would do so that he could get a feel for what they are looking at and so that he could help them refine based on their personal style.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">All three made trades. One was profitable and the other two kept losses small. His team is doing well and Tim is optimistic. Here are the specific updates: <\/span><\/p>\n\n\n\n<p><b>Cara: <\/b><span style=\"font-weight: 400;\">Listen to hear how Cara chose a stock that was on the top of Tim\u2019s watchlist and how it went. You\u2019ll learn the ups and downs of this trade, and every trader will learn lessons about how to handle trades that don\u2019t go your way.<\/span><\/p>\n\n\n\n<p><b>DJ: <\/b><span style=\"font-weight: 400;\">He\u2019s open to long and short positions, and he\u2019s Tim\u2019s leader at the moment, up $1,600 in two days. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Tim and Stephen discuss how focusing on VWAP when buying higher-priced stocks can help improve your success rate. You\u2019ll also learn why it\u2019s a good idea to remain open to both long and short positions. &nbsp;<\/span><\/p>\n\n\n\n<p><b>Josh: <\/b><span style=\"font-weight: 400;\">He focused on a stock that has been on Tim\u2019s radar and on the StocksToTrade Watchlist. While he was busy this week and only went for one trade, he made a good one.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">However, it wasn\u2019t executed perfectly. Tim and Stephen talk about how Josh\u2019s fatal flaw was getting out too early, diminishing his potential profits. Is it possible that Josh is stuck in a \u201csmall account\u201d mentality that could be holding him back? <\/span><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><b>Stephen\u2019s team<\/b><\/h4>\n\n\n\n<p><span style=\"font-weight: 400;\">Frankly, Stephen is a bit worried about his team. Overall, they\u2019re doing good things but aren\u2019t considering all of the variables at once. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">He sees them chasing and not looking at volatility enough. Can he help them begin to see the big picture and improve their paper trading? <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Here are the specific updates: <\/span><\/p>\n\n\n\n<p><b>Liz: <\/b><span style=\"font-weight: 400;\">She\u2019s up about $2K, but Stephen is concerned that her methods aren\u2019t sustainable, as she\u2019s chasing stocks. It\u2019s a common enough problem for traders: they\u2019ll find a setup that works and works \u2014&nbsp;and then suddenly it doesn\u2019t. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Tim and Stephen talk about how traders need to take a more long-term approach to trading mentally, otherwise they can fizzle out.<\/span><\/p>\n\n\n\n<p><b>Louis: <\/b><span style=\"font-weight: 400;\">While he\u2019s showing great promise, Louis may be overextending himself in his trades.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Tim and Stephen discuss specific things that Louis could do to improve his approach to swing trading, like sticking to VWAP holds. Be sure to listen up for key swing trading tips!<\/span><\/p>\n\n\n\n<p><b>Jude: <\/b><span style=\"font-weight: 400;\">She\u2019s only placed one trade, but sometimes that\u2019s not such a bad thing. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">As Tim and Stephen discuss, there are times to push, like when the weed stocks were going wild last month. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">But sometimes, if you\u2019re not doing anything by pushing, the best tactic is to back off and play defense. Don\u2019t overtrade. Don\u2019t go crazy. Preserve your capital and focus on building knowledge. <\/span><\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><b>Got a pressing inquiry?<\/b><\/h5>\n\n\n\n<p><span style=\"font-weight: 400;\">Do you have a question for Tim and Stephen? 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\/6dAXeMDAAMw?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 71: No Remember November With Sober October over, it\u2019s time to advance into No Remember November. In this episode of the SteadyTrade Podcast, hosts Tim Bohen and Stephen Johnson are ready to party, but rather than with drinks or drugs, it\u2019s with paper. Yes, you heard that right: It\u2019s a paper trading party, as [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":1466,"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>No Remember November - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"In this episode of the SteadyTrade Podcast, hosts Tim Bohen and Stephen Johnson are ready to party, but rather than with drinks or drugs, it\u2019s with paper. 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