{"id":3448,"date":"2021-08-10T06:00:07","date_gmt":"2021-08-10T11:00:07","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=3448"},"modified":"2021-08-09T16:31:16","modified_gmt":"2021-08-09T21:31:16","slug":"episode-212-strategic-side-hustles","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/episode-212-strategic-side-hustles\/","title":{"rendered":"Episode 212: Strategic Side Hustles: Why Diversification is Crucial for Traders"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/playlist.megaphone.fm?e=STT8823600609\" width=\"100%\" height=\"200\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><b>Do you have a strategic side hustle?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Hosts Kim Ann Curtin, Stephen Johnson, and Tim Bohen tackle the importance of a great side hustle \u2014 or two. And how it can make you a better trader.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many traders start with the desire to trade full-time and quit their day jobs. But they don\u2019t think about keeping a side hustle.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stephen and Tim both swear by the side hustle lifestyle. They say it makes them more confident traders. When you don\u2019t need a trade to succeed to feed yourself and put a roof over your head, you can trade with a clearer mind.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim\u2019s all for the side hustle mentality. She gets into the psychology of having multiple sources of income. And why diversifying your work helps you make <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-200-michele-wucker\/\"><span style=\"font-weight: 400;\">smarter choices<\/span><\/a><span style=\"font-weight: 400;\">. Hear the gang\u2019s tips and strategies in this week\u2019s episode&#8230;<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Modern Life Is Ideal for Side Hustles<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Bohen\u2019s amazed by the opportunities available to traders these days. If you want to trade as a side hustle, there are many tools out there &#8230; Mobile apps, free brokerage accounts, unlimited <\/span><a href=\"https:\/\/www.steadytrade.com\/technical-analysis-using-multiple-timeframes\/\"><span style=\"font-weight: 400;\">access to information<\/span><\/a><span style=\"font-weight: 400;\">, and even crypto.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stephen agrees. He says all these tools make it possible for traders to become digital nomads \u2014 and reduce their overhead in the process. He, himself, has been eyeing coworking spaces and rentals abroad in Bali, Indonesia&#8230;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim can\u2019t believe the cost of living in that region. She spent a big chunk of her career in New York City, and the price to rent anything there comes at a premium.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Find out <\/span><a href=\"https:\/\/www.steadytrade.com\/ep-157-chris-morales\/\"><span style=\"font-weight: 400;\">how many side hustles<\/span><\/a><span style=\"font-weight: 400;\"> Stephen has and how they\u2019ve shaped him into a consistently profitable trader.*<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Side Hustles Take Time to Succeed<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Stephen says you likely won\u2019t be profitable right away. Like any venture, side hustles require hard work. He shares how many years it took him to find <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-199-journey-to-full-time-trader\/\"><span style=\"font-weight: 400;\">success in trading<\/span><\/a><span style=\"font-weight: 400;\">&#8230;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim agrees. She reminds people not to compare themselves to others. Everyone\u2019s journey is unique, and so is their timeline. She shares a story about what helped one TikToker finally succeed after many years of trying.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bohen recognizes that some people aren\u2019t financially ready to trade right away. He wasn\u2019t fully ready when he started either. And he shares a strategy for using payment plans to <\/span><a href=\"https:\/\/www.steadytrade.com\/ep-153-airplane-jane\/\"><span style=\"font-weight: 400;\">build your trading account<\/span><\/a><span style=\"font-weight: 400;\"> over time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Plus, Kim shares the story of a risk she took pitching herself to someone famous when she started her business.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Side Hustles Make You Well-Rounded\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Kim\u2019s all for having multiple side hustles. She thinks working in other industries keeps you informed and makes you a better trader. She recommends people read &#8220;<\/span><a href=\"https:\/\/amzn.to\/3jrwt0Q\"><span style=\"font-weight: 400;\">Linchpin: Are You Indispensable<\/span><\/a><span style=\"font-weight: 400;\">?&#8221; by Seth Godin to learn how valuable that is.\u00a0<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">(As an Amazon Associate, we earn from qualifying purchases.)<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Bohen agrees. He\u2019s impressed with <\/span><a href=\"https:\/\/www.instagram.com\/sean_flores\/\"><span style=\"font-weight: 400;\">Sean Flores<\/span><\/a><span style=\"font-weight: 400;\">\u2019 artwork side hustle. And that he still shows up every morning on Bohen\u2019s <\/span><a href=\"https:\/\/stockstotrade.com\/premarketprep\/\"><span style=\"font-weight: 400;\">Pre-Market Prep<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stephen mentions that even big-time traders like <\/span><a href=\"https:\/\/www.steadytrade.com\/trading-the-ultimate-breakout-with-bryce-tuohey\/\"><span style=\"font-weight: 400;\">Bryce Tuohey<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-202-matthew-monaco\/\"><span style=\"font-weight: 400;\">Matt Monaco<\/span><\/a><span style=\"font-weight: 400;\"> keep side hustles going because they never know if they\u2019ll have a dry streak or the market will slow.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Plus, find out the formula he uses to invest as much time in himself as he does in his employer\u2019s future&#8230;\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Do You Think?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Do you have a side hustle \u2014 or a few? How does having another source of income affect your trading? Do you want to be a <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-204-small-accounts-patterns-bryce-tuohey\/\"><span style=\"font-weight: 400;\">full-time trader<\/span><\/a><span style=\"font-weight: 400;\">?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We love to hear what you think, so drop a comment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remember: if we select your question or comment 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\"><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>Into 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\"><b>iTunes<\/b><\/a><b>.<\/b><\/p>\n<h2><span style=\"font-weight: 400;\">Resources<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Stout, Lynn A., <\/span><a href=\"https:\/\/www.amazon.com\/gp\/product\/B007PIZ8IO\/ref=as_li_qf_asin_il_tl?ie=UTF8&amp;tag=stockstotrade-20&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B007PIZ8IO&amp;linkId=d4d4c3f5d29b7a58fcac82f246efb445\"><i><span style=\"font-weight: 400;\">The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public<\/span><\/i><\/a><span style=\"font-weight: 400;\">, Berrett-Koehler Publishers, First Edition, 2012.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Meet Our SteadyTrade Hosts<\/span><\/h3>\n<p><a href=\"https:\/\/www.steadytrade.com\/about\/\"><span style=\"font-weight: 400;\">Get to know Tim Bohen, Stephen Johnson, and Kim Ann Curtin.<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Follow our hosts on social media\u2026<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Tim Bohen<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Twitter: <\/span><a href=\"https:\/\/twitter.com\/tbohen\"><span style=\"font-weight: 400;\">@tbohen<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Instagram: <\/span><a href=\"https:\/\/www.instagram.com\/tbohen\/\"><span style=\"font-weight: 400;\">@tbohen<\/span><\/a><\/p>\n<h4><span style=\"font-weight: 400;\">Stephen Johnson<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Twitter: <\/span><a href=\"https:\/\/twitter.com\/Jonk87\"><span style=\"font-weight: 400;\">@Jonk87<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Instagram: <\/span><a href=\"https:\/\/www.instagram.com\/stephenjonk87\/?hl=en\"><span style=\"font-weight: 400;\">@stephenjonk87<\/span><\/a><\/p>\n<h4><span style=\"font-weight: 400;\">Kim Ann Curtin<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Twitter: <\/span><a href=\"https:\/\/twitter.com\/kimanncurtin\"><span style=\"font-weight: 400;\">@kimanncurtin<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Instagram: <\/span><a href=\"https:\/\/www.instagram.com\/kimanncurtin\/\"><span style=\"font-weight: 400;\">@kimanncurtin<\/span><\/a><\/p>\n<h3><span style=\"font-weight: 400;\">Disclaimer<\/span><\/h3>\n<p><i><span style=\"font-weight: 400;\">*Please note that any reported 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","protected":false},"excerpt":{"rendered":"<p>Do you have a strategic side hustle? Hosts Kim Ann Curtin, Stephen Johnson, and Tim Bohen tackle the importance of a great side hustle \u2014 or two. And how it can make you a better trader.\u00a0 Many traders start with the desire to trade full-time and quit their day jobs. But they don\u2019t think about [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":3449,"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>Episode 212: Strategic Side Hustles: Why Diversification is Crucial for Traders - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"Find out how many side hustles Stephen has and how they\u2019ve shaped him into a consistently profitable trader.*\" \/>\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\/episode-212-strategic-side-hustles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Episode 212: Strategic Side Hustles: Why Diversification is Crucial for Traders - 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