Most newbie traders enter the game hoping to make a quick buck, but do they have what it takes to build trading longevity?
This week, hosts Tim Bohen and Stephen Johnson tackle a topic that’s hard for most people to accept — how much hard work it takes to succeed.
Some trading ‘gurus’ want to make trading look easy. So when you’re new and don’t know better, you might mistake quick gains for real skills. If you keep trading, you’ll learn the truth…
Successful long-term trading takes dedication. You have to show up every day. No exceptions.
Tune in to this week’s episode to find out how to bring your A-game to trading every single day!
How Much Grind Does It Take to Succeed?
Everyone wants trading longevity. They want consistent rewards from the market. But they don’t want to put in the blood, sweat, and tears to make their dreams a reality.
Wouldn’t it be nice if tendies could just fall from the sky?
That’s just not going to happen. The good news is that things can get better over time — but you must be willing to put in the work.
Tune in to the episode to find out how many hours Stephen put into his trading plans when he started out. And check out how much time it takes him now that he’s established trading longevity.
Why Build Trading Longevity?
Trading longevity doesn’t come naturally to a lot of people. That’s why most traders fail. But it IS possible for more traders to succeed with the right mindset.
Motivation varies depending on where you are in life. Bohen already had a family when he started trading. He wanted to succeed for them as much as for himself. He also had a natural passion for the market.
For Stephen, it was all about freedom. He wanted to make his own schedule, make office life optional, and answer to himself.
Once you decide to build trading longevity, it’s important to know what to expect. Tim and Stephen go over the number-one mistake new traders make and how to stop making it!
Do You Have a Trading Community?
In trading and in life, nobody wants to go it alone. Sure, we all like our space and the freedom to build our own schedule … But we still need a community of peers.
Stephen says staying in touch with a trading community is one key to trading longevity. He checks in with other traders to see how they feel about current market conditions.
Getting validation from peers can help any trader feel more confident.
What Do You Think?
Do you plan to trade for the long haul? How much grind time do you put into each trading day?
We 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.
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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.