This week, the SteadyTrade gang weighs in on the best habits to build as the markets head back to normal.
SteadyTrade hosts Kim Ann Curtin, Stephen Johnson, and Tim Bohen are back at the mic. And they have plenty to sound off about.
We all love stock market mania … Tendies falling from the sky … More stocks breaking out than we could possibly trade.
But there’s a lot more to appreciate about calm markets than we realize.
Bohen says these roundtable talks are his favorite. The whole team shares their best strategies and tools to focus on when markets are back to normal.
Plus there are the off-the-cuff personal stories that make us all say, “What! No way!” Even Kim can’t believe what Tim says about Stephen.
Check out this week’s episode for all the trading education and entertainment you need as we get back to normal.
Are We Finally Back to Normal?
The 2021 stock market finally seems back to normal, all things considered. After a strong start in January, opportunities became more sparse. But there’s still plenty of tendies to go around. They just don’t drop all day every day anymore.
Bohen’s grateful for that. He remembers seeing so many stocks pop up during his Pre-Market Prep sessions. That’s great, but it’s overwhelming after a while. He loves sharing information on the best stocks. And when there are fewer stocks in play, he can share more detail.
Kim says those days were like “a fevered dream.” The rest of the team agrees. There was so much to handle, it didn’t feel connected to reality.
So what does back to normal mean? We still see meme stocks popping off. And biotechs with news catalysts are still going crazy. So is it slim pickings or just more balanced pickings?
Stephen says this market is great news for short sellers. 2020 caught him off guard and made him reevaluate risk. It took him some time to realize it wasn’t a short’s market. But he adapted.
And he shares a key silver lining in this week’s episode! Don’t miss this…
Back to Normal = Savor Your Wins
Stephen says there’s always a calm after the storm. And 2020 was a big, big storm. Congrats to the traders who survived and thrived. Let’s hang on to our profits as we get back to normal.
Bohen agrees with Stephen. He thinks trading was the highlight of the past year. And he’s thankful for the opportunities that keep coming.
He also sees the same trends repeating in the crypto space. Cryptocurrencies took off for a while. Now they’re having their own crash.
So what do traders do next? Stephen’s grateful for the moments of pause. When you have time to think, it’s great to savor your wins.
He says: “Money makes the accomplishment bigger. It’s not the achievement, but it measures the achievement. It makes you feel worthy.”
Kim reminds Stephen that he’s always worthy, whether he extracts money from the market or not. Aw, so true, but it’s still exciting to win!
Find out how far Stephen’s gains have come in this week’s episode.*
Prepare for Future Madness
So what’s the best thing to do when markets are back to normal? Once you’re done savoring your wins, that is…
Kim says you always go back to basics. It never hurts to study more! But what’s the most important thing to study? What do traders need to know the most?
Bohen agrees with this. After all, “it only takes one big win” to put you ahead. You must be ready.
If you’re overtrading and under-training, you could lose big. You don’t need to catch every setup, only the best setups for you.
But how do you know what strategy fits your personal style? You have to experiment with solid rules to find out.
Bohen compares the process to his training in another field. He says, in a high-pressure situation, “you’re gonna descend to the level of your training.”
You have to be ready for opportunity to strike. Take it from our veteran traders. Stephen weighs in on this as well.
Listen to this week’s episode for the best way to prepare for the next market craze!
What Do You Think? Is the Market Back to Normal?
Do you miss the market mania? Are you happy things are back to normal? How are you preparing for the next big run? We’d love to hear what you think, so drop a comment.
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.
Into this episode? Please leave a review on iTunes.
Meet Our SteadyTrade Hosts
Follow our hosts on social media…
Kim Ann Curtin
*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.