{"id":2722,"date":"2020-04-14T09:00:32","date_gmt":"2020-04-14T16:00:32","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=2722"},"modified":"2020-04-14T13:55:05","modified_gmt":"2020-04-14T20:55:05","slug":"winning-traders-share-tips-and-tricks","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/winning-traders-share-tips-and-tricks\/","title":{"rendered":"Ep 143: Winning Traders Share Their Tips and Tricks"},"content":{"rendered":"<div id=\"backtracks-player\" style=\"max-width: 100%;\" data-bt-embed=\"https:\/\/player.backtracks.fm\/st\/steadytrade-com\/m\/ep-143-profitable-traders-share-their-coronavirus-trading-tips-tricks\" 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;\">This week on SteadyTrade, winning traders share their tips and tricks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of this recording, the market\u2019s tanking like nobody\u2019s business following <\/span><a href=\"https:\/\/www.steadytrade.com\/ep-140-trading-during-coronavirus\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">coronavirus<\/span><\/a><span style=\"font-weight: 400;\">-related market crashes. Yet some traders are still reporting profits.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Do they know something that other traders don\u2019t? Nope. It\u2019s just a matter of following the opportunities the market presents and taking advantage of them when the time is right.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re curious about how smart, winning traders are taking advantage of the current market volatility, you\u2019re in luck! SteadyTrade co-hosts Stephen Johnson and Kim Ann Curtin have assembled a gathering of \u2018young wizards\u2019 trading through the INSANE coronavirus market. Listen and learn!\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">The Young Wizards\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">We\u2019ve got a star-studded cast of traders on the show today: Kyle Williams, Andrew Chipka, and Jack Kellogg. And they\u2019re all so YOUNG.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re part of the robust <\/span><a href=\"https:\/\/www.steadytrade.com\/trading-syke-ology-with-tim-sykes\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Tim Sykes<\/span><\/a> <a href=\"https:\/\/www.timothysykes.com\/millionaire-challenge\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Trading Challenge<\/span><\/a><span style=\"font-weight: 400;\"> chat room or active on <\/span><a href=\"https:\/\/profit.ly\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Profit.ly<\/span><\/a><span style=\"font-weight: 400;\">, you\u2019re probably already familiar with some of these names. But you may not know their trading stories.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kyle became intrigued by short-term trading in 2016. He initially lost money, which made him get serious about studying. And after about a year, he figured out how to be consistent. Now, he reports he\u2019s up six figures in profits.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Jack (also featured on <\/span><a href=\"https:\/\/www.steadytrade.com\/jack-kellogg\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Ep. 96<\/span><\/a><span style=\"font-weight: 400;\">) started his trading journey in 2017. He didn\u2019t trade much in the first year. He wanted to save up enough cash at his valet job to be over the PDT. He talks about his personal ups and downs and how the marijuana stock craze helped him find his setups. He also reports that he\u2019s now up six figures in profits.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Andrew started trading in 2017. He dabbled with going long and bitcoin. But it wasn\u2019t until he discovered Sykes that he really started finding his stride. He hit the books, watched a ton of webinars, and honed his strategy. Tune in to find out Andrew\u2019s doing in the markets lately!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Makes a Trader Successful?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the episode, each trader shares the characteristics they think contribute to trading success. For example&#8230;<\/span><\/p>\n<p><b>Humility. <\/b><span style=\"font-weight: 400;\">These traders all agree: If you\u2019re not humble, the market will eventually humble you. Learn why it\u2019s so important to avoid getting cocky, especially if you feel like you\u2019re on a winning streak.<\/span><\/p>\n<p><b>Adaptability. <\/b><span style=\"font-weight: 400;\">Each trader talks about why adapting is key in the stock market. The only real constant is change. Even if the same setup worked in the past, that doesn\u2019t mean it will continue to work.<\/span><\/p>\n<p><b>Focus.<\/b><span style=\"font-weight: 400;\"> It can be tempting to try dozens and dozens of strategies. But at a certain point, you need to buckle down and focus on just a few. Learn why this is so vital to refining your trading technique.<\/span><\/p>\n<p><a href=\"https:\/\/stockstotrade.com\/14daytrial\/?utm_source=podcast&amp;utm_medium=blog&amp;utm_campaign=trial\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-2725 size-full\" src=\"https:\/\/www.steadytrade.com\/wp-content\/uploads\/2020\/04\/STT-trial_AD002_g1b_728x90-2.jpg\" alt=\"\" width=\"728\" height=\"90\" srcset=\"https:\/\/www.steadytrade.com\/wp-content\/uploads\/2020\/04\/STT-trial_AD002_g1b_728x90-2.jpg 728w, https:\/\/www.steadytrade.com\/wp-content\/uploads\/2020\/04\/STT-trial_AD002_g1b_728x90-2-480x59.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 728px, 100vw\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">Pivotal Moments\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Trading is a journey. And as it unfolds, there are certain \u2018aha\u2019 moments. What were those moments like for these traders?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Learn why Kyle decided it was a much better idea to focus on making money with one setup rather than trying everything \u2026 He breaks down his specific panic buy OTC strategy and how he branched out from there.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Jack talks about how losses prompted him to change gears and hit the books again. It worked. Once he got back to trading, he \u201cdidn\u2019t throw money around like an idiot.\u201d Learn why a trade needs to prove that it deserves his money!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Andrew talks about how he realized that a stock market education is ongoing. It\u2019s important to study and watch the markets every day, even if you\u2019re not trading yet. He explains how he spent nine months paper trading before he started trading real money. Although paper trading \u201cisn\u2019t the same,\u201d it helped him get familiar with the market.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Is \u201cLose to Learn\u201d a Smart Strategy?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Speaking of paper trading \u2026 is it really a good idea? And if so, how long should you do it?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The traders agree: Paper trading is better than not trading at all. But it\u2019s a slippery slope. It can fool you into thinking that you\u2019re a hotshot trader.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They talk about the pros and cons of starting very small and learning by losing. Here\u2019s a compelling question: I<\/span><b>s it worth losing a little bit if you\u2019re learning how to get a handle on your emotions?\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Check out the episode for more on this topic.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Discipline vs. Knowledge: Is There a Winner?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The crew doesn\u2019t necessarily agree on which is more important. But they agree that both discipline and knowledge are vital.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As Andrew shares, it\u2019s all too easy to rationalize yourself into a position. So you really gotta focus on learning enough to establish personal rules \u2014 then stick to them.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don\u2019t miss the round table discussion on what this means for Kim\u2019s future as a trader &#8230; Will she have an accelerated learning process since she knows so much about trading psychology?<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Curious About Something?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Got questions about the episode? Hit us up!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remember: if your question is chosen as an on-air topic, you could win a SteadyTrade mystery gift box. Leave a comment below or on <\/span><a href=\"https:\/\/www.youtube.com\/user\/stockstotrade\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">YouTube<\/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>Fan of the podcast? Please leave a review on <\/b><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/steady-trade-the-profitable-side-of-trading\/id1275946076?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\"><b>iTunes<\/b><\/a><b>.<\/b><\/p>\n<p><a href=\"https:\/\/stockstotrade.com\/watchlist\/sttwllpv8_19\/?utm_source=podcast&amp;utm_medium=blog&amp;utm_campaign=watchlist\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-2727 size-full\" src=\"https:\/\/www.steadytrade.com\/wp-content\/uploads\/2020\/04\/AD001-970x250-2.jpg\" alt=\"\" width=\"970\" height=\"250\" srcset=\"https:\/\/www.steadytrade.com\/wp-content\/uploads\/2020\/04\/AD001-970x250-2.jpg 970w, https:\/\/www.steadytrade.com\/wp-content\/uploads\/2020\/04\/AD001-970x250-2-480x124.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 970px, 100vw\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week on SteadyTrade, winning traders share their tips and tricks. At the time of this recording, the market\u2019s tanking like nobody\u2019s business following coronavirus-related market crashes. Yet some traders are still reporting profits.\u00a0 Do they know something that other traders don\u2019t? Nope. It\u2019s just a matter of following the opportunities the market presents and [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":2723,"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>Ep 143: Winning Traders Share Their Tips and Tricks - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"This week on SteadyTrade, winning traders share their tips and tricks. Get the strategies that they&#039;re using to master these volatile markets.\" \/>\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\/winning-traders-share-tips-and-tricks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ep 143: Winning Traders Share Their Tips and Tricks - SteadyTrade.com\" \/>\n<meta property=\"og:description\" content=\"This week on SteadyTrade, winning traders share their tips and tricks. 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