As a new trader, you hear it over and over … Trading preparation is crucial. Study, study, study!
But what exactly should you study? And how do you study effectively?
That’s what today’s episode is all about as our hosts Stephen Johnson, Kim Ann Curtin, and Tim Bohen sit down with new trader Bram…
He has awesome insight into what studying, tracking data, and the right mindset actually looks like for a new trader.
Bram has been a friend of Stephen’s for about a year now. So of course you can expect some shenanigans and friendly banter … Along with a ton of useful trading information.
Who’s Our Guest?
Bram’s only 18 years old. He’s been trading for over a year and has been interested in finance and trading since his early teens.
He started out with short selling but recently started going long. And he’s all too familiar with the risks of getting dumped on when longing crap penny stocks…
Today, he’ll share with you his mindset and study habits that have helped him in his trading.
Trading Preparation — and How to Study Effectively
So, what does it mean to study effectively? What does trading preparation look like as a daily process?
We all know Tim’s a big fan of “studying charts till your eyes bleed,” and Bram agrees with this notion. They actually have similar techniques when it comes to studying charts…
Tune in to the episode to find out what Tim’s top tip is for studying effectively and how he did it back in the so-called dark ages. He’ll also share his main trading strategy right now — don’t miss it!
Besides looking at the chart for support and resistance areas, Bram also looks at the float, whether there are possible bag holders, and if a stock has room to run. Basically, he creates a thesis or prediction based on what he sees on the chart.
According to Bram, trading preparation is essential. Without it, you’re just gambling.
Like Stephen, Bram tracks data. Find out what they both agree can help improve your tracking results and help make sense of the sometimes chaotic market data.
And there’s another new trader in the mix: Kim.
How Does Kim Study?
Stephen wants to know what Kim is doing for trading preparation.
Kim reports she just got access to Tim’s daily webinars on StocksToTrade and is watching all the StocksToTrade university courses.
She’s really enjoying the lessons, finding them clear and easy to understand. They’ve given her greater clarity and understanding of trading concepts, without all the trading jargon.
Next steps for Kim? She’s in the process of opening her trading account. Go, Kim!
Check out the full episode to hear how Kim’s feeling about her journey so far.
Trading Preparation: Bringing It All Together
Studying effectively isn’t just about what you study — it’s about mindset, process, and focus.
At the heart of all the traders who make it is an innate curiosity for the markets and why stocks do what they do.
A risk management strategy is also a must. Find out how Bram manages risk and cuts losses. For him, one day and one trade don’t matter — it’s about staying focused on long-term goals.
And what about the right support system?
A Sense of Community and the Right Mindset
A LOT goes into finding trading consistency. Bram believes it’s also about emotions and handling them mentally. He knows trading can be very lonely and isolating, so he makes sure to talk daily with other traders.
Tim agrees. Kim’s helped him when he’s gone down a dark path before. Getting back on track can be easier with the right people and community by your side.
And why try to do it on your own when you can learn from others who are already doing it? But with so many scams and frauds eager to take your money, how do you know who to trust?
For one Bram ignores the traders with big egos. He looks for traders who are successful and transparent and filters out anyone who seems full of BS.
Kim wants to know where Bram got his wisdom and insight into what it takes to make it as a trader at such a young age. Tune in to find out how this young trader stays well-tuned and the approach he’s taking with his career.
Talk to Us!
What does your trading preparation look like? What are your tips for new traders?
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 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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Meet Our Hosts
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Kim Ann Curtin