Trading offers a lot of freedom. Is that a blessing or a curse? That depends on YOU. Here’s how traders can make the most of their flexibility. Tune in to learn to avoid the ‘I should be trading’ trap!
When you’re first starting as a trader, it might feel like you need to be chained to your computer at all times. There’s so much to learn, so much studying to do…
But once you figure out what works for you, it’s really just a lot of ‘rinse and repeat.’
In fact, as you advance in your trading career, you might even find that less is more.
In today’s episode, Tim and Stephen discuss the importance of stepping away from your monitor every now and again — both for your own sanity and for the sake of your trading account.
At the time of recording, Stephen was at surf camp in Portugal, taking a much-needed break. Next up? A retreat in Mexico, then back to the grind.
He’s taking a break from trading at the moment. Sure, he could jump in here and there to see how things are going. But mainly, he finds that sort of approach is just a recipe for FOMO.
Though there was one play he couldn’t resist, Stephen’s generally been taking a break from trading altogether.
His mentality? “When your head’s not in it, don’t be in it.”
When You’re Grinding, Grind
In the episode, Tim and Stephen talk about an important topic: taking time off.
Both agree that trading is an endeavor that requires full attention for the best results.
It’s really simple:
- When you’re grinding, grind.
- When you can’t dedicate yourself fully, take time off.
Traders won’t want to miss their discussion about traveling and trading…
Is it a good idea? Or is it a recipe for disaster? The answer’s different for every trader, but Tim and Stephen’s thoughts may surprise you…
Adapt or Walk Away
The market’s ever-changing. So it’s important for traders to be able to shift their expectations, mindset, and even trading strategies to work with the current market conditions.
Tim and Stephen talk about the current market climate. Learn how events like the recent Chinese housing scandal can affect stocks, and how traders can quickly adapt.
Learn why Stephen’s adopted an “adapt and change up your strategy or walk away” approach. And hear how last year’s influx of market newbies may have altered the landscape of trading and short selling forever.
Stephen also shares how and why he’s adapted his watchlist technique to keep former runners on watch longer.
Plus, don’t miss Tim and Stephen’s thoughts on a controversial trading conspiracy theory!
Do you enjoy the freedom that trading offers?
We love to hear what you think, so drop a comment below or on YouTube!
Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.
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*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.