{"id":3452,"date":"2021-08-17T06:00:32","date_gmt":"2021-08-17T11:00:32","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=3452"},"modified":"2021-08-17T09:24:57","modified_gmt":"2021-08-17T14:24:57","slug":"episode-213-art-of-paper-trading","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/episode-213-art-of-paper-trading\/","title":{"rendered":"Episode 213: Check It Before You Wreck It: The Account-Saving Art of Paper Trading"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/playlist.megaphone.fm?e=STT2327393403\" width=\"100%\" height=\"200\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><b>Some traders don\u2019t realize how important paper trading is until it\u2019s too late.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Hosts Kim Ann Curtin, Stephen Johnson, and Tim Bohen want to make sure you\u2019re not one of them.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They know your hard-earned money is precious. You trade to make more tendies, not to lose the ones you already have. And you hustle to squeeze trading time into your busy schedule and study up on top strategies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But even after you put in the screen time, study time, and cold hard cash \u2026 <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-195-how-jack-kellogg-breakout-success\/\"><span style=\"font-weight: 400;\">success<\/span><\/a><span style=\"font-weight: 400;\"> isn\u2019t guaranteed. This week\u2019s episode focuses on a crucial step that a lot of traders skip: paper trading.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Find out how this underappreciated art form can fast-track your learning and save your account at the same time.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Test New Strategies With Paper Trading<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Everyone wants to find a shortcut on the road to success. Bohen says he\u2019s waiting for the day that Elon Musk can plant a Neuralink chip in his brain that tells him what WallStreetBets is up to next.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But until technology can make us all telepathic traders, it\u2019s best to start with small, <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-204-small-accounts-patterns-bryce-tuohey\/\"><span style=\"font-weight: 400;\">achievable goals<\/span><\/a><span style=\"font-weight: 400;\">. That\u2019s where paper trading comes in.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim\u2019s blown away by all the meme stock moves lately. She thinks it\u2019s wild and wonders how traders can get an edge.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bohen lays out the <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-210-nature-vs-nurture\/\"><span style=\"font-weight: 400;\">mindset<\/span><\/a><span style=\"font-weight: 400;\"> it takes to make it as a trader in today\u2019s market \u2014 he shares what you need to know before you start paper trading!<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Is There an Art to Paper Trading?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Stephen struggled to keep his account profitable for a while. He says he knocked thousands of dollars off in <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-191-the-psychology-of-losing-trades\/\"><span style=\"font-weight: 400;\">terrible trades<\/span><\/a><span style=\"font-weight: 400;\">. He thought paper trading was for chumps. Until something changed his mind for good&#8230;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim\u2019s impressed with Stephen\u2019s ability to pivot. She says people with strong opinions have a hard time being more flexible. And she shares exactly why flexibility is a key driver of success \u2014 in trading and in life.\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bohen wants to hear more about Stephen\u2019s new paper <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-208-brian-lee\/\"><span style=\"font-weight: 400;\">trading system<\/span><\/a><span style=\"font-weight: 400;\">. There\u2019s one major tweak Stephen made that took his trades to the next level. And it\u2019s something Kim and Tim had never heard of before!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stephen\u2019s excited to share his ingenuity. His tips and tricks were game-changers when he crossed over to long trades. Find out exactly how he used paper trading to succeed with long strategies after years of <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-209-long-vs-short\/\"><span style=\"font-weight: 400;\">short-biased trading<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Paper Trading Gives You Perspective<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Bohen\u2019s been around a long time. He\u2019s seen many newbie traders follow the wrong teachers on social media. They use real money instead of paper trading, and they blow up their accounts. Then they quit for good.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bohen hates seeing that happen \u2026 He wants traders to stay in the game and love it as much as he does. He goes into one key strategy that can help newbie traders <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-200-michele-wucker\/\"><span style=\"font-weight: 400;\">protect their accounts<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Plus, he shares how long you should test a new strategy for &#8230; and the next step to take after you succeed with paper trading.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim and Bohen close out the program with their best advice for transforming your relationship with money. You won\u2019t want to miss their words of <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-189-the-buy-side-with-turney-duff\/\"><span style=\"font-weight: 400;\">wisdom<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Do You Think?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Have you tried paper trading? Did it help you improve your process? What did you learn about trading?<\/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<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>Some traders don\u2019t realize how important paper trading is until it\u2019s too late. Hosts Kim Ann Curtin, Stephen Johnson, and Tim Bohen want to make sure you\u2019re not one of them.\u00a0 They know your hard-earned money is precious. You trade to make more tendies, not to lose the ones you already have. And you hustle [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":3455,"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":[30,19,18],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Episode 213: Check It Before You Wreck It: The Account-Saving Art of Paper Trading - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"Some traders don\u2019t realize how important paper trading is until it\u2019s too late. 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