What does it really take to grow a small account?

This week, the SteadyTrade gang welcomes back Bryce Tuohey to help answer that question and discuss much more. 

SteadyTrade hosts Kim Ann Curtin, Stephen Johnson, and Tim Bohen put Bryce back in the hot seat. And they also dive deeper into his trading strategies.

If you tuned into his first interview, you heard all about his journey from trading a small account to becoming a six-figure trader.* In this episode, we get in-depth commentary on how he trades today.

The team takes a step-by-step journey through how traders find their process. So how does Bryce approach the markets? How does he adapt to market changes

Find out more about Bryce’s top rules, strategies, and plays in this week’s episode!

Trading a Small Account? Know Your Style

You hear a lot of talk about trading styles and personalities. But is it as simple as choosing long or short? Is there more to it than that? 

Stephen knows what team he’s on. He loves to short. Sure, he’s flexible when a great opportunity comes around, but at the end of the day, he knows what he prefers.  

Bohen took some time to find his preference as well and came out long-biased. But understanding your trading style goes deeper than that. 

After all, markets change and surprising events happen. 

And then there are meme stocks. Meme stocks took center stage in 2020 and keep finding their way back into the spotlight. 

Bryce watches them closely but isn’t swayed. He shares exactly how he tracks AMC Entertainment Inc. (NYSE: AMC). Much like a hunter, he follows its every move. 

And he shares why knowing himself means knowing to not take a trade, even when it’s popular. 

Stay Disciplined With a Small Account

So many newbie traders dream about starting with a small account and making big bucks. Sounds easy in theory, right? Just catch a few big runners and grow your small account every week. 

Bryce jokes about this mentality. He understands the wishful thinking all traders start out with. So do Tim and Stephen. 

From the outside, it looks easy. Once you’re in the game, it’s a whole different story. It’s NOT easy. So what’s the best way to build discipline? 

There’s more than one way to skin a cat. Bryce knows a lot of traders rely on paper trading or just putting in the screen time. But he says these strategies don’t give you the hands-on training you need to make progress. 

Bohen thinks Bryce is right on the money. He says it takes a lot of trading practice for things to start clicking. Repetition is the best way to get ahead. 

So how did Bryce get ahead? Kim asks how he came up with his master plan. 

Bryce says it took a lot of failing and watching his friend succeed to dig deep. He came up with a process that minimized his risk and maximized his skills. Find out his winning strategy in this week’s episode!

Should You Keep Taking Risks?

Whether you start with a small account or not, every trader needs to master a strategy that works for them. You need a signature move you can rely on. And you must stay focused when getting started. 

But once you achieve consistency, should you stay in your comfort zone or take new risks

Stephen appreciates Bryce’s journey to mastering one setup. But he’s also eager to push the envelope. He says he found a way for his short profits to pay for his long losses. He sees it as an investment in a new skill.

And Stephen wants to hear all about Bryce’s journey to trading short as a long-biased trader. He pushes him to reveal his ups and downs along the way.

Bryce is on board for the challenge. Find out if his short profits give Stephen’s long profits a run for their money. And hear how Bryce continues to refine his process.

Kim asks Bryce to share his top rules for trading both ways, and he shares them all!

Trading With a Small Account? What Do You Think?

What’s your favorite setup? How do you push your limits in trading or stay in your comfort zone? Have you grown a small account? 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

Get to know Tim Bohen, Stephen Johnson, and Kim Ann Curtin here.

 

Follow our hosts and special guest on social media…

Bryce Tuohey

Twitter: @TraderBryce

Instagram: @BryceTuohey

Tim Bohen

Twitter: @tbohen

Instagram: @tbohen

Stephen Johnson

Twitter: @Jonk87

Instagram: @stephenjonk87

Kim Ann Curtin

Twitter: @kimanncurtin

Instagram: @kimanncurtin

Disclaimer

*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.