{"id":3457,"date":"2021-08-24T06:00:01","date_gmt":"2021-08-24T11:00:01","guid":{"rendered":"https:\/\/www.steadytrade.com\/?p=3457"},"modified":"2021-08-23T15:08:47","modified_gmt":"2021-08-23T20:08:47","slug":"episode-214-developing-a-strategy","status":"publish","type":"post","link":"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/","title":{"rendered":"Episode 214: What Really Works? Directionless Trading vs. Developing a Strategy"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/playlist.megaphone.fm?e=STT9443237989\" width=\"100%\" height=\"200\" frameborder=\"0\" scrolling=\"no\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<p><b>Can you succeed as a trader without developing a strategy?\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Hosts Kim Ann Curtin and Stephen Johnson start a four-part series to address common trading errors.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this episode, it\u2019s all about approach. Some newbie traders start out <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-213-art-of-paper-trading\/\"><span style=\"font-weight: 400;\">trigger-happy<\/span><\/a><span style=\"font-weight: 400;\">. They hope their instincts will be enough to succeed in trading right from the start. Stephen admits he was like that.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Others are gun-shy \u2026 They study a lot and still don\u2019t feel like they have enough knowledge. But if they don\u2019t make trades, they can\u2019t build good instincts for the market. Kim feels this way about her own <\/span><a href=\"https:\/\/www.steadytrade.com\/bad-trading-habits-to-ditch-in-2021\/\"><span style=\"font-weight: 400;\">trading habits<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">No matter where you fall on this spectrum, tune in to the episode to learn how to break the habit of directionless trading. Start developing a strategy that works for you.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Stop Directionless Trading\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Kim\u2019s on a mission to stop traders from trading blindly. She sees the emotional and psychological toll that takes. That\u2019s why she created her <\/span><a href=\"https:\/\/lp.stockstotrade.com\/trading-eq\/\"><span style=\"font-weight: 400;\">Trading EQ<\/span><\/a><span style=\"font-weight: 400;\"> course.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If traders keep trading and losing without developing a strategy, they can feel defeated. And it often takes a lot of work to climb out of the hole.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stephen agrees that developing a <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-195-how-jack-kellogg-breakout-success\/\"><span style=\"font-weight: 400;\">trading strategy<\/span><\/a><span style=\"font-weight: 400;\"> is key to successful trading. But he disagrees with Kim about avoiding losses. He takes a different approach to the emotional ups and downs of trading&#8230;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Check out the episode to find out how Stephen flipped the script on big losses to become a better trader.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Is Developing a Strategy Enough?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Most traders won\u2019t succeed without developing a strategy \u2026 But is a solid strategy all it takes to succeed? What about trading <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-210-nature-vs-nurture\/\"><span style=\"font-weight: 400;\">emotions<\/span><\/a><span style=\"font-weight: 400;\">?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Trading is tough. Both Kim and Stephen can attest to that. Stephen accepts that feeling low about a loss will happen at some point.\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So is there a way to <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-208-brian-lee\/\"><span style=\"font-weight: 400;\">protect your profits<\/span><\/a><span style=\"font-weight: 400;\"> when emotions get the best of you?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You bet! Stephen asks a powerful question before taking every trade. Find out what it is and why he says 50% of traders wouldn\u2019t be able to answer it. Plus, he shares his top five reasons for entering a trade.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/lp.stockstotrade.com\/market-grind\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-3437 size-full aligncenter\" src=\"https:\/\/www.steadytrade.com\/wp-content\/uploads\/2021\/08\/MarketGrind_cv02_728x90.jpg\" alt=\"\" width=\"728\" height=\"90\" srcset=\"https:\/\/www.steadytrade.com\/wp-content\/uploads\/2021\/08\/MarketGrind_cv02_728x90.jpg 728w, https:\/\/www.steadytrade.com\/wp-content\/uploads\/2021\/08\/MarketGrind_cv02_728x90-480x59.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;\">Remember to Ask for Help<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">It\u2019s easy to get carried away when you\u2019re trading by yourself. And it\u2019s hard to see your own mistakes.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stephen says it\u2019s super important to <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-193-chart-patterns\/\"><span style=\"font-weight: 400;\">find a mentor<\/span><\/a><span style=\"font-weight: 400;\"> early on. If you don\u2019t know why your trade failed, ask a veteran trader. That can be key to developing a strategy that works.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kim and Stephen get into some strategies that help top traders deal with losses and stay profitable.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stephen sees trading as a sport \u2026 He closes the episode with the most important lesson he learned from Michael Jordan that put him on the path to winning trades. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Dig into the episode to hear Stephen\u2019s tip that can help traders <\/span><a href=\"https:\/\/www.steadytrade.com\/episode-207-trading-eq\/\"><span style=\"font-weight: 400;\">at every level<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Do You Think?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Are you a trigger-happy or gun-shy trader? Where are you in developing a strategy? Have something you\u2019d like to ask a trading mentor?<\/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<p><strong><a href=\"https:\/\/lp.stockstotrade.com\/trading-eq\/\">Learn from Kim!<\/a><\/strong><\/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>\ufeff Can you succeed as a trader without developing a strategy?\u00a0 Hosts Kim Ann Curtin and Stephen Johnson start a four-part series to address common trading errors.\u00a0 In this episode, it\u2019s all about approach. Some newbie traders start out trigger-happy. They hope their instincts will be enough to succeed in trading right from the start. [&hellip;]<\/p>\n","protected":false},"author":2283,"featured_media":3458,"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 214: What Really Works? Directionless Trading vs. Developing a Strategy - SteadyTrade.com<\/title>\n<meta name=\"description\" content=\"Tune in to the episode to learn how to break the habit of directionless trading. Start developing a strategy that works for you.\u00a0\" \/>\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-214-developing-a-strategy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Episode 214: What Really Works? Directionless Trading vs. Developing a Strategy - SteadyTrade.com\" \/>\n<meta property=\"og:description\" content=\"Tune in to the episode to learn how to break the habit of directionless trading. Start developing a strategy that works for you.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/\" \/>\n<meta property=\"og:site_name\" content=\"SteadyTrade.com\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-24T11:00:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-23T20:08:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.steadytrade.com\/wp-content\/uploads\/2021\/08\/STP_214_BLOG.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"721\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"SteadyTrade\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"SteadyTrade\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/\",\"url\":\"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/\",\"name\":\"Episode 214: What Really Works? Directionless Trading vs. Developing a Strategy - SteadyTrade.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.steadytrade.com\/#website\"},\"datePublished\":\"2021-08-24T11:00:01+00:00\",\"dateModified\":\"2021-08-23T20:08:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.steadytrade.com\/#\/schema\/person\/360a1e47359757a55a3de46010e6856a\"},\"description\":\"Tune in to the episode to learn how to break the habit of directionless trading. Start developing a strategy that works for you.\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.steadytrade.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Episode 214: What Really Works? Directionless Trading vs. Developing a Strategy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.steadytrade.com\/#website\",\"url\":\"https:\/\/www.steadytrade.com\/\",\"name\":\"SteadyTrade.com\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.steadytrade.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.steadytrade.com\/#\/schema\/person\/360a1e47359757a55a3de46010e6856a\",\"name\":\"SteadyTrade\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.steadytrade.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/cbf7b567ddc83dbd1e0505c281707b15?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/cbf7b567ddc83dbd1e0505c281707b15?s=96&d=mm&r=g\",\"caption\":\"SteadyTrade\"},\"sameAs\":[\"http:\/\/www.steadytrade.com\"],\"url\":\"https:\/\/www.steadytrade.com\/author\/steady-trade\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Episode 214: What Really Works? Directionless Trading vs. Developing a Strategy - SteadyTrade.com","description":"Tune in to the episode to learn how to break the habit of directionless trading. Start developing a strategy that works for you.\u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/","og_locale":"en_US","og_type":"article","og_title":"Episode 214: What Really Works? Directionless Trading vs. Developing a Strategy - SteadyTrade.com","og_description":"Tune in to the episode to learn how to break the habit of directionless trading. Start developing a strategy that works for you.\u00a0","og_url":"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/","og_site_name":"SteadyTrade.com","article_published_time":"2021-08-24T11:00:01+00:00","article_modified_time":"2021-08-23T20:08:47+00:00","og_image":[{"width":1000,"height":721,"url":"https:\/\/www.steadytrade.com\/wp-content\/uploads\/2021\/08\/STP_214_BLOG.png","type":"image\/png"}],"author":"SteadyTrade","twitter_card":"summary_large_image","twitter_misc":{"Written by":"SteadyTrade","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/","url":"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/","name":"Episode 214: What Really Works? Directionless Trading vs. Developing a Strategy - SteadyTrade.com","isPartOf":{"@id":"https:\/\/www.steadytrade.com\/#website"},"datePublished":"2021-08-24T11:00:01+00:00","dateModified":"2021-08-23T20:08:47+00:00","author":{"@id":"https:\/\/www.steadytrade.com\/#\/schema\/person\/360a1e47359757a55a3de46010e6856a"},"description":"Tune in to the episode to learn how to break the habit of directionless trading. Start developing a strategy that works for you.\u00a0","breadcrumb":{"@id":"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.steadytrade.com\/episode-214-developing-a-strategy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.steadytrade.com\/"},{"@type":"ListItem","position":2,"name":"Episode 214: What Really Works? Directionless Trading vs. Developing a Strategy"}]},{"@type":"WebSite","@id":"https:\/\/www.steadytrade.com\/#website","url":"https:\/\/www.steadytrade.com\/","name":"SteadyTrade.com","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.steadytrade.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.steadytrade.com\/#\/schema\/person\/360a1e47359757a55a3de46010e6856a","name":"SteadyTrade","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.steadytrade.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/cbf7b567ddc83dbd1e0505c281707b15?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/cbf7b567ddc83dbd1e0505c281707b15?s=96&d=mm&r=g","caption":"SteadyTrade"},"sameAs":["http:\/\/www.steadytrade.com"],"url":"https:\/\/www.steadytrade.com\/author\/steady-trade\/"}]}},"_links":{"self":[{"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/posts\/3457"}],"collection":[{"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/users\/2283"}],"replies":[{"embeddable":true,"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/comments?post=3457"}],"version-history":[{"count":3,"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/posts\/3457\/revisions"}],"predecessor-version":[{"id":3461,"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/posts\/3457\/revisions\/3461"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/media\/3458"}],"wp:attachment":[{"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/media?parent=3457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/categories?post=3457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.steadytrade.com\/wp-json\/wp\/v2\/tags?post=3457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}