{"id":1512,"date":"2018-12-10T07:00:55","date_gmt":"2018-12-10T15:00:55","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=1512"},"modified":"2019-04-05T11:56:42","modified_gmt":"2019-04-05T18:56:42","slug":"ep-75-high-on-weed-stocks","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/ep-75-high-on-weed-stocks\/","title":{"rendered":"High on Weed Stocks"},"content":{"rendered":"\n<div id=\"backtracks-player\" data-bt-embed=\"https:\/\/player.backtracks.fm\/st\/steadytrade-com\/m\/ep-75-high-on-weed-stocks\" 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<h2 class=\"wp-block-heading\"><b>Episode 75: High on Weed Stocks<\/b><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">Do you feel the need \u2026 the need for weed stocks? <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Cannabis stocks are undoubtedly the hottest sector in the market these days. In today\u2019s episode, hosts Tim Bohen and Stephen Johnson share the best ways for traders to get in on the action.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">But that\u2019s not all that the show has in store. You\u2019ll also get the latest update on the SteadyTrade Paper Trading Challenge, and learn some incredible trading psychology tips and tricks. Get ready for an action-packed episode! <\/span><\/p>\n\n\n\n<p><b>SteadyTrade Paper Trading Challenge Update<\/b><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Kicking off in November, this Challenge began with two teams of three contestants. Each contestant was given $30K trading equity (over PDT!) &nbsp;in their paper trading accounts. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">There was some gaming of the system, scalping in and out, and one contestant literally made millions due to a system glitch. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Now that phase one of the Challenge is complete, it\u2019s time to see who got margin called, and who has to leave the island \u2026 <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">\u2026 Hey, can you help us think of a catchphrase for when contestants are eliminated? <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">\u2026 Otherwise, Tim and Stephen might resort to \u201cYou\u2019ve been pumped and dumped from this competition\u201d&#8230; and, well, ew. <\/span><\/p>\n\n\n\n<p><b>The Time Is High for Weed Stocks <\/b><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">As most traders are aware, the weed\/cannabis sector is super hot now. It\u2019s had some ups and downs since 2014, but the momentum is now very strong. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Why? Because with recreational marijuana being legalized in more and more U.S. states, pot stocks are coming into the real world. They\u2019re not just listed on pink sheets; they\u2019re actually being listed on major exchanges. &nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">With companies like Coca-Cola talking to cannabis producers, there are catalysts a-plenty in this sector that are creating many opportunities for traders. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">In the episode, Tim and Stephen cover many topics related to weed stocks, including: <\/span><\/p>\n\n\n\n<ul><li style=\"font-weight: 400;\"><b>Trends. <\/b><span style=\"font-weight: 400;\">One of the nice things about the weed stock sector is that the stocks tend to move together. <\/span><\/li><\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">The guys discuss why this matters, how even a catalyst specific to one company can create moves within the entire sector, and how to use this phenomenon to your trading advantage.<\/span><\/p>\n\n\n\n<ul><li style=\"font-weight: 400;\"><b>When to buy. <\/b><span style=\"font-weight: 400;\">With some weed stocks hitting 52-week highs, it can be hard to know when is the right time to enter a trade. You\u2019ll gain plenty of tips for when traders are taking positions and why. <\/span><\/li><li style=\"font-weight: 400;\"><b>How long to hold a position. <\/b><span style=\"font-weight: 400;\">Weed stocks are unique in that they provide opportunities for both day traders and swing traders. <\/span><\/li><\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">Tim and Stephen dish out some tips for why both approaches have pros and cons, and offer food for thought so you can consider how long you want to hold. <\/span><\/p>\n\n\n\n<ul><li style=\"font-weight: 400;\"><b>Don\u2019t be fooled by randomness. <\/b><span style=\"font-weight: 400;\">Just because weed stocks are hot doesn\u2019t mean that you can pick any of them and make oodles of cash. <\/span><\/li><\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">Fundamental and technical analysis remains very important with weed stocks, and it\u2019s worth taking the time to really evaluate whether or not the stock you\u2019re considering makes for a worthwhile trade.<\/span><\/p>\n\n\n\n<ul><li style=\"font-weight: 400;\"><b>You still need a plan. <\/b><span style=\"font-weight: 400;\">You still need to carefully consider your trade and to create a detailed trading plan with pre-determined entry and exit points. You still need a stop loss. Things still can go wrong with weed stocks, so you need to be prepared! <\/span><\/li><\/ul>\n\n\n\n<p><b>Trading Psychology Tips<\/b><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Successful trading is as much about what you don\u2019t do as what you do. For example \u2026 do you have the discipline to wait for the right criteria for a trade for 3 weeks? <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">No doubt about it: Trading psychology is super important to your success (or lack thereof) as a trader. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Tim and Stephen share their own experiences. You\u2019ll learn about Tim\u2019s rage issues, Stephen\u2019s most sensitive feelings, and how both of them have felt vulnerable at times in their trading careers. Awwww \u2026 group hug. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Traders at every level and with every size account will benefit from the valuable tips on attaining and maintaining the right attitude for trading. <\/span><\/p>\n\n\n\n<p><b>Got Something to Say? <\/b><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Do you have opinions, questions, or comments on the episode? Visit the \u201c<\/span><a href=\"https:\/\/www.steadytrade.com\/submit-your-audio\/\"><span style=\"font-weight: 400;\">submit your audio<\/span><\/a><span style=\"font-weight: 400;\">\u201d portion of the website to put in your two cents. <\/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\/I4PJSjBn1ts?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 75: High on Weed Stocks Do you feel the need \u2026 the need for weed stocks? Cannabis stocks are undoubtedly the hottest sector in the market these days. In today\u2019s episode, hosts Tim Bohen and Stephen Johnson share the best ways for traders to get in on the action. But that\u2019s not all that [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":1521,"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>High on Weed Stocks - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"Episode 75: High on Weed Stocks. Do you feel the need \u2026 the need for weed? Cannabis stocks are undoubtedly the hottest sector in the market these days. In today\u2019s episode, hosts Tim Bohen and Stephen Johnson share the best ways for traders to get in on the action. But that\u2019s not all that the show has in store.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.steadytrade.com\/ep-75-high-on-weed-stocks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"High on Weed Stocks - SteadyTrade.com\" \/>\n<meta property=\"og:description\" content=\"Episode 75: High on Weed Stocks. Do you feel the need \u2026 the need for weed? Cannabis stocks are undoubtedly the hottest sector in the market these days. In today\u2019s episode, hosts Tim Bohen and Stephen Johnson share the best ways for traders to get in on the action. 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