How new traders help in getting safer side of trading?

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HOW NEW TRADERS GET INTO A SAFER SIDE OF TRADING?

How new traders help in getting safer side of trading?


Today we want to talk to you guys about the community of stock trading. We always talk about stock trading, how it's a journey. It's not a sprint, it's a marathon. And it's a journey.  And you're gonna go through a rollercoaster of emotions,  and strategies, and tactics to get to that point where you are that consistently profitable trader.  

I basically got started at the same time,  about five or six years ago.  I introduced ourselves to a program,  The Millionaire Challenge.  So we met in the Tim Sykes Millionaire Challenge and, since then, we both kind of diverted into two different strategies that are, completely contradictory,  and also complimentary at the same time. Where, Roland, he goes long, and me as Huddie, I go short.  And, again, we're both cut from the same teacher, Tim Sykes.  And we've gone through three, four or five years,  of refining that process.  

So, Roland, do you wanna talk a little about that?  - Yeah, I mean, for me it was,  the community was crucial,  especially early on when I was trying to get my feet.  Now, when we're talking about community,  you do have to be careful.  

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Most people in most chats have no clue what they're talking about. So that's something that,  you'll learn pretty quickly or hopefully, you will.  And so, whatever I learned, within chats,  I took with a grain of salt  if it's just someone who I have no clue who they are,  they're just a screen name.  But at the same time,  I had the benefit of learning from people like Tim Grittani  who I respect, tremendously.  And in terms of my, strategy and stuff like that,  a lot of it did come from what I saw,  people like Tim Grittani in particular doing.  And, what I realized,  especially back in, late 2016, early 2017,  was that, a lot of my entries to the long side  and what I was trying to do, we're, one of this...  

This amazing short seller. These were his short entries.  So in essence what I was doing was buying his shorts in my head.  He was short selling, and I was the one buying them.  And then, when I finally could picture like,  you're, actually selling your shares back to,  someone like that who's covering.  And that, actually had a tremendous impact on,  the way I looked at, the direction I needed to go.  

So a lot of the traders before us,  they kind of paved the way for us.  They set the foundation.  And then, as part of our journey, we took things from,  previously successful traders that are still successful today,  and crafted our own strategies from this.  So, when we say, it's a journey, it's a marathon.  It's not a sprint because,  you're not gonna be able to get everything, in one night.  You're not able to get everything in three months.  It's gonna take a while. And it's going to take time,  and, not just studying the patterns but also studying the traders,  and getting to know people within the chat rooms,  and within the communities.  

Now, I wouldn't follow every single,  stock trader, any guy that's posting,  that they're making money, on Twitter.  You gotta find someone that really resonates with a strategy that you found consistency with,  that you found familiarity with,  and then pursue that direction.  Whether it's, studying that person's posts,  or even going further and reaching out.  Asking that that stock trader questions and getting personal with them.  

Yeah, And what I find is,  especially talking to a lot of traders is that everyone has their own personality.  Everyone has their own risk tolerance.  For some people,  risking a thousand dollars would be ludicrous,  and, for some people, it's, pocket change.  So, it really does have to do,  with your perspective on what's going on.  It is a longterm thing.  But for me, just learning from, the traders before me,  learning what not to do,  and of course, stepping in a lot of landmines myself,  you can only really, beat your head up against the wall,  so much before you have to figure out something better.  And that's the definition of insanity.  

SOME BEST TIPS TO GET INTO PROFITABLE TRADING:

If you keep doing the same thing, over and over again with the same results, something's got to change.  And like I said, there was a turning point there,  where I realized, man, my strategies are not good.  I don't know what I'm doing, and I need to learn.  And that's what I did.  I took, pretty much, what I learned from Tim,  both Tim's, Grittani and Sykes,  and then, made my own way in the market.  And that's what I have found,  all the successful traders I know, they take,  bits and pieces of information that resonate with them,  and then they build upon it.  Find your niche, in the markets.  And that's been super important to me, as I've developed.  - So, to end this, I think, to end this is,  get excited about, not the money at the beginning,  not the profits. But get excited about the journey.  

You're starting a career here, not a hobby.  You're going to meet people, other stock traders.  I consider, Roland,  although we live in different states at the moment,  co-workers.  So get excited about, who you're gonna meet,  how you're gonna meet them,  and how you're going to progress,  as an individual throughout your stock trading career.  Cause it's not gonna be overnight.  - Yeah, I agree.  It's not an overnight thing.  You gotta, have the correct perspective.  Have the long-term in mind and understand that every single day, every trade,  every waking hour, is an opportunity to improve,  to learn something that you don't know.  And that continues to go for us. 

It doesn't just end when you figure out what you're doing and you become profitable. In fact, it's just the beginning.  That's how I feel my career is right now.  And I'm still learning.  I'm still trying, striving to be better every single day.  And that's something if you can have an attitude like that will get you through,  pretty much anything in terms of learning,  how to trade stocks.   

So if you like posts like this,  make sure you click that link below, subscribe,  ring the bell, do whatever it takes to get,  access to more of this kind of content.  Cause you need this,  in order to become that consistently successful trader that you wish you can become.  And don't forget to check out the SteadyTrade team where,  myself and Tim Bohen, we give weekly webinars.  

Tim Bohen doing twice, a day webinars and I do once a week webinars,  where we dissect the best of the best penny stocks,  the most volatile, and most voluminous, penny stocks,  in the market.  And we go through them. And we break down the psychology,  why the volume's there, the catalysts,  so that you are prepared to understand,  why these stocks are moving, how these stocks are moving.  So eventually, you can, plan those trades yourself.

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