{"id":2225,"date":"2019-05-13T06:00:23","date_gmt":"2019-05-13T13:00:23","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=2225"},"modified":"2019-05-20T12:52:20","modified_gmt":"2019-05-20T19:52:20","slug":"papa-john-the-art-of-passion-and-discipline","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/papa-john-the-art-of-passion-and-discipline\/","title":{"rendered":"Papa John: The Art of Passion and Discipline"},"content":{"rendered":"<div id=\"backtracks-player\" style=\"max-width: 100%;\" data-bt-embed=\"https:\/\/player.backtracks.fm\/st\/steadytrade-com\/m\/ep-97-papa-john-the-art-of-passion-and-discipline\" data-bt-theme=\"dark\" data-bt-show-description=\"false\" data-bt-show-comments=\"false\" data-bt-show-art-cover=\"true\"><\/div>\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<p><span style=\"font-weight: 400;\">It\u2019s a happy day for the SteadyTrade Podcast: Papa John (nothing to do with pizza, BTW) is back! We featured him on the podcast about a year ago, when he was one year into his trading journey. Today we\u2019re checking in on how he\u2019s progressed as a trader.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the episode, he and co-hosts Tim Bohen and Stephen Johnson address a range of trading-related topics, including &#8230; <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Why OTC stocks aren\u2019t the only game in town<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">How to find what works for you <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Maintaining a passion for trading <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The extreme importance of discipline <\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Traders of all levels will be inspired to hear how Papa John\u2019s trading style has evolved!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Recap: Papa John<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When you first met Papa John way back in <\/span><a href=\"https:\/\/www.steadytrade.com\/ep-41-papa-john\/\"><span style=\"font-weight: 400;\">Episode 41<\/span><\/a><span style=\"font-weight: 400;\">, he was a fairly new trader with a great story. After losing $16K in his first six months as a trader, he managed to turn things around and finish out that first year in the green.* <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Having transitioned to trading from the world of online poker, Papa John was no stranger to waging his hard-earned money. But trading was a totally new game! He says he finally found his edge with OTC stock breakouts. <\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What\u2019s Going on Now? <\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Papa John\u2019s expanding and refining his trading techniques in a number of ways.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most notably, he\u2019s shifting from working with only OTC breakouts and starting to trade listed stocks too.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The problem with only trading OTC stocks? It tried his patience. With OTC stocks, there can be short runs of activity, but then there can be several weeks with little action. To take advantage of those down times, Papa John started exploring listed stocks. <\/span><\/p>\n<h3><span style=\"font-weight: 400;\">A New Strategy <\/span><\/h3>\n<p><span style=\"font-weight: 400;\">No big surprise \u2014 and as Papa John found \u2014 OTC strategies don\u2019t always translate well on the bigger exchanges. Where OTC stocks really require mostly technical research, he found he needs to delve much deeper into the fundamentals for listed stocks. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">He learned that lesson pretty fast. He lost money early on in his listed-stocks journey, but now he says he\u2019s regaining ground and found a strategy that works for him. <\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Papa John\u2019s Strategy With Listed Stocks<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The pattern he\u2019s working with? It involves reverse splits. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the episode, Papa John explains how he looks for recent reverse splits that become very low float in the aftermath of the split. He then waits for a catalyst to pounce on the trade and work with the chart. Traders interested in working with stock splits as a trading strategy won\u2019t want to miss this! <\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The Importance of Passion and Discipline<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the episode, the three traders also discuss the importance of both passion and discipline for traders. An obsessive scholar of all things trading-related, Papa John has a strong passion &#8230; but struggles with discipline. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">But he\u2019s working to improve his by implementing these discipline-building practices: <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Taking profits off the top. <\/b><span style=\"font-weight: 400;\">Papa<\/span> <span style=\"font-weight: 400;\">John realized one of his problems as a trader is letting certain trades go too long and letting his profits recede. Now, he takes profits earlier and still holds a smaller position just in case things keep looking up. Learn how he uses this strategy when trading on the Nasdaq!<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Cutting losses. <\/b><span style=\"font-weight: 400;\">A loss can hurt, but it\u2019s better to rip the band-aid off quickly to help reduce how long and deep you feel the sting. Learning from foolish mistakes is the smart way to avoid repeating them! <\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Waiting for specific setups. <\/b><span style=\"font-weight: 400;\">As Papa John puts it, \u201cDo you have an edge that you can verify statistically with your setups?\u201d There\u2019s a reason he sticks with certain setups &#8230; they work for him! Learn his go-to OTC patterns and the thought process behind his entry points! \u00a0<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Got a question? <\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Ask us anything! Well, anything about trading, that is. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">BTW &#8230; Did you know that if we choose your question to answer on-air, you can win a SteadyTrade mystery gift box? Send questions via the <\/span><a href=\"https:\/\/www.steadytrade.com\/\"><span style=\"font-weight: 400;\">SteadyTrade<\/span><\/a><span style=\"font-weight: 400;\"> website, <\/span><a href=\"https:\/\/www.youtube.com\/channel\/UC5pPaJfbfRHQ1msJ4bSj_dQ\"><span style=\"font-weight: 400;\">YouTube<\/span><\/a><span style=\"font-weight: 400;\">, or by <\/span><a href=\"mailto:admin@steadytrade.com\"><span style=\"font-weight: 400;\">email<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\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 aspiring traders!<\/span><\/p>\n<p><b>How awesome do you think this episode is? Leave us 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","protected":false},"excerpt":{"rendered":"<p>It\u2019s a happy day for the SteadyTrade Podcast: Papa John (nothing to do with pizza, BTW) is back! We featured him on the podcast about a year ago, when he was one year into his trading journey. Today we\u2019re checking in on how he\u2019s progressed as a trader. In the episode, he and co-hosts Tim [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":2226,"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>Papa John: The Art of Passion and Discipline<\/title>\n<meta name=\"description\" content=\"It\u2019s a happy day for the SteadyTrade Podcast: Papa John (nothing to do with pizza, BTW) is back!\" \/>\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\/papa-john-the-art-of-passion-and-discipline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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