Many of our listeners are aspiring or new traders. While learning the basics of trading is important for those who are just getting started, it can be difficult to figure out how to apply this knowledge. As such, it can be extremely inspiring and helpful to learn by hearing the stories and experiences of traders who are “in the field” so to speak.
Learning from the anecdotal experiences of others can be a great way to give you, as a new trader, ideas for how to apply the trading basics you learned in Season One of the Steady Trade Podcast. In Season Two, Tim and Stephen will be offering more interviews with established investors to help inspire your continued growth as a day trader.
Meet Roland Wolf.
In Episode 2, Tim and Stephen conduct a two-part interview an incredible up and coming trader who is regularly netting over $1,000 per day: Roland Wolf. In the trading world, Roland is one of the fastest-advancing traders Tim has ever seen, having turned $4,000 into roughly $300,000 in profits in just a few short years. Just in case you didn’t already hate him, he’s also handsome, smart, charismatic, and well-spoken: a quadruple threat!
Prior to pursuing day trading, Roland was a professional soccer player who regularly traveled to far flung destinations like South America and Europe. After suffering a terrible ankle injury in Croatia, he suddenly found himself 24 years old and rudderless, without direction and without a career. Looking for investment opportunities led him to the work of Tim Sykes. After reading through Tim Sykes’ free e-guide to trading penny stocks, he decided to give it a go.
Getting started
When Roland started his trading career, he didn’t really know what he was doing. He was overwhelmed, and felt that he couldn’t get his finger on the pulse. In essence, he found himself chasing leads: chasing the scans, chasing alerts, chasing leads, and stumbling for direction. As host Tim says, “it’s like stepping across a minefield”.
In the interview, Tim and Stephen discuss with Roland how this time was painful yet important: it taught him many of the things that clearly were not going to work, and he was able to shift his mindset to focus on what was going to make him rich.
Gaining traction.
As the interview progresses, you’ll learn how Roland progressed from being directionless to getting himself in gear. He recognized that on an intuitive level, he was good at choosing stocks. From there, he began to maximize his trades by pursuing what was working for him. Being under PDT at the time, his situation and budget made working with overnight holds his bread and butter.
Working this way, he was able to gain a strong sense of consistency and to really begin to learn how the market worked. In retrospect, working small was a good thing: it allowed him to refine his work and it kept him from doing too much too soon. As Stephen adds, this echoes one of the best pieces of advice he received when he was starting out: “just find one or two setups and focus on them”.
Breaking through
So what was the tipping point that took Roland from figuring things out to big time success? In a word, education. When Roland first started, he was in essence winging it. Sure, he was watching Tim Sykes’ informational videos, but he wasn’t really putting a lot of emphasis on learning the mechanics of the market. After several rude awakenings (including a would-be $5,000 day that fizzled into a $200 payout), Roland realized that to really take his trading to the next level, he needed to invest in his education.
It was this education that helped Roland really begin to make money. He’d always gone against the grain with his trading, but now, he was able to do this in an actual, intentional way. In the interview, Tim and Stephen discuss the importance of learning the rules before you break them.
Success
As part one of the interview draws to a close, Tim and Stephen begin to focus on analyzing Roland’s success. In many ways, Roland’s success has come from focusing less on the actual amounts he’s earning and more on his performance as a trader. Ultimately, this is what will set him up for long term success.
Roland also shares some of his personal secrets to success, including how to find an edge, his research style, why he’s wary of breakouts, and how he maintains his cool. He also shares tips for his quick, under 5 minute process to determine whether or not a stock is worthwhile!
Stay tuned for part 2 of this incredible interview, where Tim, Stephen, and Roland continue to talk shop and offer actionable advice for new and aspiring traders.
Win big!
A new season of the Steady Trade Podcast means an all-new giveaway! Visit our giveaway page for more information!
Tim B, great interview, but for the following episode, please let the guy speak and finish before proceed.
Will do!! I admit I’m working on it! Thanks!!
Great episode guys! I love how committed Roland is to being the best. Looking forward to part 2!
Thanks guys!
Fantastic job gents. Roland Wolf is inspiring! Look forward to learning more.
Thanks Russell!
good stuff looking forward to part 2
Thanks Kheard, part 2 is awesome!
Great interview Tim!
Very insightful and fun episode. Thanks for providing us another valuable trading tool.
Glad you enjoyed it Brian!
Awesome job guys !
Thanks George!
Great episode! Definitely my favorite so far, learned so much as a beginner trader. Looking forward to part 2.
Great to hear SPenser!!
Great episode! I was laughing because I have been studying and I learned the hard way on over-analysis and also learned the hard way on what warrants were and how they affected a stock I was Trading. Didn’t cut losses as soon as I should but I did cut losses. Thanks to Roland for his comments here. I don’t totally understand warrants yet but I do totally understand his over analysis comment. Totally love this steady trade podcast! You guys are doing a great job!
Thanks Joe this is the “perfect” comment! We hope to be entertaining, but educational first!
Thanks again
I like how Stephen asked those questions I have in my mind to Roland. You guys are doing amazing!
Thanks very much Jessie!
Awesome interview!!! Learned quite a bit just from listening to Roland’s journey. Definitely need to start learning more about SEC filings, and practicing to skim through them more quickly.
Great episode of steady trade with the man Roland Wolf. You guys are all a great inspiration for people wanting to get into day trading. Keep up the great work!
Will do John, thanks and glad you found it helpful!
I mean, yea Roland is handsome and all, but he can’t rock the disheveled t-shirt and five day facial scruff like Steven can 😉
Hahah good point!!
I can’t wait for part 2 for this podcast! I can relate to what Roland was saying about his day trading beginning. Many details he said just speaks the truth on a newby view of all that information coming to you. Tim and Stephen, you guys asked great questions. I appreciate Roland breaking down some of his strategies. Great Great Great podcast!
Great comments Clovis, thanks!! And Episode 2 coming next week!
Great interview. Roland’s approach always inspires me to learn more.
Glad you found value in it Rick!
Great podcast Tim and Stephen,am a newby,trying to get all the knowledge i can,and such videos are soo helpful.kudos….cant wait for part 2
Perfect! Glad we could be helpful!
Great interview guys! I appreciate the over-analysis comments and I believe this will help me on my journey to becoming a more successful trader. Thanks!
I really liked this episode alot roland wolf is definitely an aweaome stock Traders as far as learning in such a short time I hope I have the same success I feel like you guys covered a good bit of information and it was very helpful. I get why you ask the questions when you do Tim so that way it makes sense to new Traders and also so you don’t forget the question you wanted to ask I look forward to seeing the next episode definitely what I need right now. Recently lost my job after 9 years and making a good living so I’m going to put all my time into this while I have it. So thanks for doing a great job.
Thanks for the constructive comments!! Good stuff!
Thanks for this great episode. Roland is humble enough to explain his mistakes as well as what works. Looking forward for next week!
Thanks Philip!
This podcast is one of the best one I heard so far from season 2, continue the excellent job you guys are doing with this podcast….
Thanks!!
Have listened to that one several times to internalize the strategy. Great episode!
very interested can’t wait for part two
Its already posted, check the episode archive, thanks for listening!
Roland never fails to impress people. Love this episode!
Thanks!
thank you guys, i’m just starting on my journey and it’s been very frustrating for the most part but you guys talking about your experiences especially during the times you guys also were starting out makes me believe that I will eventually be a CPT!
THANK YOU SO MUCH!!! With work I cannot pay attention during trading hours except for Friday. So I am taking courses on technical analysis, chart reading and I am even taking a financial analyst course from Chris Haroun. I want to learn to read charts and indicators so I can hold over night and set my stops for the next day. Another month till I can switch shifts at work.