{"id":2950,"date":"2020-08-18T11:53:54","date_gmt":"2020-08-18T18:53:54","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=2950"},"modified":"2020-08-19T09:01:46","modified_gmt":"2020-08-19T16:01:46","slug":"ep-161-trade-analysis-stephen-finds-a-new-edge","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/ep-161-trade-analysis-stephen-finds-a-new-edge\/","title":{"rendered":"Ep 161: Trade Analysis: Stephen Finds a New Edge"},"content":{"rendered":"<div id=\"backtracks-player\" style=\"max-width: 100%;\" data-bt-embed=\"https:\/\/player.backtracks.fm\/st\/steadytrade-com\/m\/ep-161-how-stephen-found-an-edge-in-pre-market-trading-by-tracking-data\" 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;\">Stephen Johnson did something crazy this past weekend. No, he didn\u2019t get drunk and wake up in a strange country. He spent the entire weekend running trade analysis on his own data &#8230; <\/span><i><span style=\"font-weight: 400;\">and learning from it.<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s right: all weekend long, Stephen pored through his own trading past, looking for inefficiencies and trying to figure out ways to improve his game.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So what did he find? In today\u2019s episode, Stephen shares his trade analysis journey with co-hosts Tim Bohen and Kim Ann Curtin. Listen in to hear about his epiphanies, how he got honest with himself about premarket trading \u2014 and what his edge is now.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The Importance of Data\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Think of NFL quarterbacks. They might actually only spend one hour a week on the field. It\u2019s everything that happens behind the scenes \u2014 the training, the strategy sessions, the practice \u2014 that gets them to the Super Bowl.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Trading is similar: it\u2019s all about the behind-the-scenes work.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you go back through the SteadyTrade Podcast archives, there\u2019s been a pretty consistent message about trading data: <\/span><b>Track it. Learn from it. Use it to continue getting better.\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">So many top traders in the game track their data. Don\u2019t believe it? Go back to the Tim Grittani interview (<\/span><a href=\"https:\/\/www.steadytrade.com\/tim-grittani\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">part 1<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.steadytrade.com\/tim-grittani-p2\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">part 2<\/span><\/a><span style=\"font-weight: 400;\">, please). That\u2019s where he shares how tracking and learning from his data served as his big aha moment in trading. He\u2019s now up over $13 million*, thank you very much.\u00a0<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">*These kinds of trading results are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to trade, and individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.<\/span><\/i><\/p>\n<h2><span style=\"font-weight: 400;\">Stephen\u2019s Trade Analysis: Looking at His Strategy<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Premarket trading is known to be risky. Stephen does it anyway.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To his credit, he\u2019s in Dubai, so midday trading is more like bedtime for him. He wants to try to trade as early as possible. And he got in the habit of trading when it was convenient for his schedule \u2014 premarket.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He thought he was being responsible. Stephen thought his mantra should be \u201cthe hardest worker in the room makes the most money.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sorry, but not in trading. Sometimes \u2014 <\/span><i><span style=\"font-weight: 400;\">often<\/span><\/i><span style=\"font-weight: 400;\"> \u2014 less is more.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recently, he was watching a DVD by <\/span><a href=\"https:\/\/www.steadytrade.com\/super-trader-roland-wolf\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Roland Wolf<\/span><\/a><span style=\"font-weight: 400;\">\u00a0 \u2014 a trader who just passed $1 million in profits.* In the lesson, Roland mentions how he used to trade premarket and after-hours &#8230; but stopped when he realized his results were incoherent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This prompted Stephen to look at his own results, and he found some surprises.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Stephen Found<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As the great Tim Bohen says, \u201cthere\u2019s no edge in premarket trading.\u201d Stephen was horrified to learn that in his case, it was true.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He was going short too early in the premarket. And in his trade analysis, he found that a good 70% of the time his trades would have been better if he\u2019d timed them after the market open.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Learn how he determined this and why he thinks that from a mathematical perspective, it\u2019s all about getting in early \u2014 but after the official trading day begins.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">A Closer Look at Stephen\u2019s Trade Analysis\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Traders, listen up! Stephen talks about exactly how he tracks his trades and how he analyzes the data.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Learn about the importance of logging your trades on a platform like <\/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;\">, the advantages of an app versus just keeping a spreadsheet, and the basic steps:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Track your trades\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Review your trades<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Review them again\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Trade analysis is key to learning where you can improve. Don\u2019t skip this.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Trading Outside of Regular Market Hours Is Dangerous<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In the episode, the crew talks about the not-so-secret dangers of premarket trading (and after-hours trading, for that matter.) They talk about specific tickers that have gone \u201cballistic\u201d and left many traders in a deeply painful position.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You won\u2019t want to miss the discussion about the difference between getting destroyed in the premarket versus being a success story in the live market.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Stephen Analyzes His Trades and Changes His Strategy<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">So how does Stephen avoid FOMO and keep himself from trading too early? He gets<\/span><i><span style=\"font-weight: 400;\"> really <\/span><\/i><span style=\"font-weight: 400;\">real: he even resorts to watching \u201cFriends\u201d to avoid being next to the screen!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tim shares his trading schedule too. He wakes up early, does his research, then has a brief break before the market open to recalibrate and avoid those common FOMO times.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim explains how this \u201cintegration time\u201d is vital. You let everything seep in, digest, and it becomes the lens through which you view the day.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Adaptability<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Patterns can and will shift. Even the best-laid trading plans might need to change after a while.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tim talks about the trends he\u2019s seen shift in the market. The crew talks about the patterns they\u2019re seeing and how constant trade analysis and observing market trends are a great combo for improving.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don\u2019t miss Tim\u2019s take on timing and why \u201cthe only thing that makes me angrier than daylight savings time is cargo shorts.\u201d\u00a0\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Links Mentioned<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.goodetrades.com\/2009\/08\/how-to-track-your-stock-trades\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Michael Goode: How to Track Your Stock Trades<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.steadytrade.com\/trading-steady\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">The Importance of a Trading Journal (and More)<\/span><\/a><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Piqued Your Interest?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Stephen used trade analysis to find his edge &#8230; What did you learn from his experience? If you have a question or a comment, please feel free to reach out.\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>Love this episode? 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","protected":false},"excerpt":{"rendered":"<p>Stephen Johnson did something crazy this past weekend. No, he didn\u2019t get drunk and wake up in a strange country. He spent the entire weekend running trade analysis on his own data &#8230; and learning from it. That\u2019s right: all weekend long, Stephen pored through his own trading past, looking for inefficiencies and trying to [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":2951,"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 161: Trade Analysis: Stephen Finds a New Edge - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"Stephen Johnson did something crazy this past weekend. 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