Episode 79: 2018 in Review
It was the best of times; it was the worst of times.
2018 was a year of many market climates that definitely kept traders on their toes. In today’s episode, hosts Tim Bohen and Stephen Johnson offer up their year in review.
How did they remember what happened? Tim makes trading notes every single day of the year on EverNote, which made it easy to look back and easily identify the year’s big events as they unfolded.
This type of trading journal is an invaluable tool for traders of all levels: By looking to the past, you can gain a better idea of what might happen in the future.
From cryptocurrency mania to low float fever to hot weed stocks, here’s what was going on in the market — and on SteadyTrade — all year long.
The First Quarter
In January, there was a big uptick in bitcoin. Blockchains were one of the hottest tickets early on in the year, when seemingly everybody wanted to find a way to get in on the crypto action.
Then, in February, bitcoin mania began to die down, and it was all about earnings winners.
The market was still making new highs, and $10–15 stocks were making massive 30%+ moves. Tim and Stephen talk about identifying a trend like this, and how to work it to your trading advantage.
Later on, a steel tariff brought on some decent trades, but March brought a fairly lackluster and quiet ending to the quarter.
The Second Quarter
In April, stocks began to run. Tim and Stephen discuss what sectors were moving and why, including a critique of one particular stock that got the best of both buyers and short sellers alike.
Higher priced social media related stocks were in play bigtime during Q2. Tim and Stephen offer can’t-be-missed tips on how even traders with small accounts can get in on stocks in this sector, even if they tend to be higher priced. (Hint: it’s all about timing!)
June brought a lot of low float stocks. In the episode, you’ll learn tips and tricks for how to make the most of low floaters, which can make for dangerous trades at times.
The Third Quarter
As Q2 faded into Q3, “everyone” was going short on stocks that were squeezing multiple times throughout the day.
Tim and Stephen dish on why it’s important to be OK with cutting losses, and how to avoid becoming part of the “trader graveyard” of novices whose accounts blow up in these scenarios.
August was downright boring, but it did mark the one-year anniversary of SteadyTrade!
In September, though, things began to heat up with the legalization of pot in Canada on the horizon.
The Fourth Quarter
Weed stock mania! Weed stocks were the biggest sector by far during the latter months of the year, with stocks gaining huge percentages in very short periods of time. These stocks made some traders very wealthy!
In October, Tim and Stephen enjoyed a big SteadyTrade milestone as they both attended the Trader and Investor Summit, where they met many loyal followers of the podcast. They also recorded their first-ever live podcast and interviewed contestants for the SteadyTrade Paper Trading Challenge (listen to the latest update here).
Tim and Stephen talk about the weed sector and hemp stocks blowing up, and also share their personal reflections on the year that was 2018. You’ll also get a sneak peek into their tales of past regrets including brushes with the law (nothing to do with trading, thank goodness!).
Got a Pressing Question?
Do you have a question for Tim and Stephen about something that happened in 2018 or just something about trading in general? Visit the “submit your audio” portion of the website to ask us anything.
Thanks for tuning in to the SteadyTrade Podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders!
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