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New traders often get tripped up by common trading myths. Today, Tim Bohen is going to set the record straight and offer some clarity. He covers the misconception of easy trading, the pitfalls of social media hype, and the idea that trading is just gambling. He also emphasizes how much you need to get started and shares insights on market timing. Whether you're a beginner or looking to improve your trading skills, Bohenβs straightforward advice will help you navigate the trading world with confidence.
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β Links we mention and recommend:
π΄Traders Blueprint Free Guide: https://stockstotrade.info/3GeXH5c
π΄Check out the SteadyTrade Podcast: https://steadytrade.com
π Get Tim Bohen's Ultimate Guide To Part-Time Trading EBook here: https://stockstotrade.info/3RFakeN
β Recommended playlists:
π΄ Day Trading 101: https://stockstotrade.info/DT101P
π΄ SteadyTrade Podcast: https://stockstotrade.info/STPP
π΄ T.W.I.S.T: https://stockstotrade.info/TWISTP
π΄ PreMarket Prep: https://stockstotrade.info/PMPP
π΄ Small Cap Recap: https://stockstotrade.info/recapP
#TradingMyths #TradingTips #TradingInsights
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
π Get additional updates! Join our telegram: https://t.me/sttlive
New traders often get tripped up by common trading myths. Today, Tim Bohen is going to set the record straight and offer some clarity. He covers the misconception of easy trading, the pitfalls of social media hype, and the idea that trading is just gambling. He also emphasizes how much you need to get started and shares insights on market timing. Whether you're a beginner or looking to improve your trading skills, Bohenβs straightforward advice will help you navigate the trading world with confidence.
π Share this video with a fellow Trader: https://youtu.be/dozqxUTwKkY
π Follow StocksToTrade on social media:
Instagram: https://www.instagram.com/stockstotrade/
Twitter: https://twitter.com/StocksToTrade
TikTok: https://www.tiktok.com/ @stocks2trade
π¨Get Breaking News Alerts: https://stockstotrade.info/3JY5Zms
π΄ Try StocksToTrade for $7: https://stockstotrade.info/3Qqs78G
π Check out Small Cap Rockets: https://stockstotrade.info/3Rpp5D8
π² Download the STT app for iOS: https://apps.apple.com/us/app/stockstotrade-mobile/id1403963724
π² Download the STT app for Android: https://play.google.com/store/apps/details?id=com.stockstotrade
π΄ Subscribe for more free Stock Trading tips: YouTube.com/StocksToTrade
β Links we mention and recommend:
π΄Traders Blueprint Free Guide: https://stockstotrade.info/3GeXH5c
π΄Check out the SteadyTrade Podcast: https://steadytrade.com
π Get Tim Bohen's Ultimate Guide To Part-Time Trading EBook here: https://stockstotrade.info/3RFakeN
β Recommended playlists:
π΄ Day Trading 101: https://stockstotrade.info/DT101P
π΄ SteadyTrade Podcast: https://stockstotrade.info/STPP
π΄ T.W.I.S.T: https://stockstotrade.info/TWISTP
π΄ PreMarket Prep: https://stockstotrade.info/PMPP
π΄ Small Cap Recap: https://stockstotrade.info/recapP
#TradingMyths #TradingTips #TradingInsights
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
Hey everyone! Lee Train with Stock trading Tim Bone here today. We're going to be talking about debunking common trading myths and how to set the record straight for Success So today I mean listen, there's a lot of myths out there around trading and um, you know it trips up so many new. Traders Especially unrealistic expectations I Think that's like when we talk about the high failure rate I'm sure you've heard 90 fail Etc And I think that there's a lot of reasons that feed into that. but I always think one of the biggest reasons is simply just unrealistic expectations and at the end of the day I Almost think that sometimes, like in don't hate me for this but like sometimes I wish trading would almost be a little less accessible.
like think about like driving a car. Okay, like if you don't have training, if you don't have licensing, if you don't like, drive with somebody showing you what to do. probably really bad things are going to happen now. Really bad things.
You could still have the world class driving education and bad things could still happen. but like there's a value to certifications, you know? I've flat out listen. probably most of you know. I'm a gun owner okay.
I'm a big fan I go to training a couple times a year. okay I go to shooting schools I Go to the range. Okay, having a firearm is a bad things can happen. but I'm a big believer in training and and knowing how to use that tool.
you know. Same as a car. Listen with trading, nobody will stop you Okay Robin Hood You know you can start trading literally today. like they don't even have.
You don't even have to wait to fund your account. You just submit the ACH and they'll give you fake money to trade today. It's crazy. Okay, you got a smartphone and 500 bucks and fire away.
So I wish it was a little less accessible. but that being said, because of the unrealistic expectations, they're fed by a lot of these myths. Number One is trading is easy. Okay now listen at the end of the day, trading is easy.
I Mean it's like you click a mouse or click on your phone. You'll buy 1 000 shares. Submit Easy peasy, right? But it's not. The the mechanics are easy just clicking a mouse or pressing or tapping a button.
But the what goes into making a good decision and finding a good trade is not easy. Okay, so it's in. As always with social media, it's like it's a double-edged sword. like I Like social media because it gets people interested in markets.
It sees the potential. You can look at a chart and see oh man I see what he did here. but the bummer is so many people are posting these huge gains and odds are like again I'm not putting down anybody's trading or or their social media but like if you see somebody making a hundred thousand dollars on a day trade, you may not. As a newbie, you may not realize that they might have a five million dollar account.
Okay, you might not realize that they have been trading for a decade. Okay, where you know you don't realize that like like this guy, you don't The count, size and the buying power and the experience. So I wish it wasn't construed that way, but it is. It's not easy, but it's worth it. Okay I Sold my company a decade ago. It's been the best decade in my life. since then, I've made more money in trading and mentoring than I did in the business for 15 years. It's rewarding, but it takes a lot of work.
Have the right mindset, Um, the other one that drives me nuts. The more complex the strategy, the better. Oh like. and keep in mind: I'm not going to put down options I'm not going to put down long short Hedges or any of this stuff.
But so many of these trading strategies are designed for big hedge funds. You know they're called a hedge fund for a reason. They're trying to manage the risk because they're trading billions of shares. And listen, if you're trying to trade black skulls or iron Condors or whatever and you don't even you can't even make money buying a one dollar stock and selling it a buck 20.
Like, listen, focus on going long first even. Short Selling unless I Love short selling even though I pick on short sellers on social media. Short Selling is an amazing strategy, but it's very confusing for new. Traders You gotta borrow the stock, you sell it and then you buy it.
you get paid locate fees. All this stuff. It's confusing. Learn how to trade on the long side, get consistent, then add more tools to your tools chest.
But as a small account new Trader Just looking to go along simple. Keep it simple. momentum stocks with catalysts, float rotation Etc Um also understand that this kind of goes back to the fact that like 100 win rates and you'll get this conception of like successful Traders are always right. Goes back to social media like a lot of guys will post losses and I respect that.
but you'll see a lot that that's the exception. The norm is you won't hear from these guys on social media for three four days and then there's this huge win that's great and hopefully you can learn from that. but you got to understand that there was probably some losses in between. and losing is part of trading.
Like like, there's no reason to hide a loss because no one's ever had 100 win rate. No one else ever will have a 100 win rate. It's no different than sports. Like, no one's ever not struck out, no one's ever not missed a basket.
But if you focus on the best setups and managing your risk, those losses can be great. lessons. like um I've said this before and I've heard other you know trading mentors say it. You got two options.
you either learn or you earn. Okay, don't hide your losses. Don't run from your losses. figure out what you did wrong.
You know, if that gets something from that 500 loss, get an education. Don't do it again. Next thing is that trading is just gambling and ah, this one angers me. Um, listen, the roulette wheel. You're just putting some money on black and you're hoping for the best. Okay, now flat out a lot of Traders Traders approach trading that way. They see some guy mention a Ticker on Twitter and they're like oh, just buy it and hopefully it goes up. Now what you're going to do, you can follow the channel.
Okay, you're gonna learn that trading is about putting successful trading consistently profitable. Trading is about maximizing your probabilities. Okay, the roulette wheel just spinning it. You hope for the best.
What we do in day trading and swing trading and even investing is We go through a detailed process to look at things that have worked in the past. Things that are currently working. News: The driving stocks chart Patterns that are driving stocks Volume Things that have happened yesterday that worked and we look to repeat those today. Now, if you have a random process, you're just gambling.
But if you have a process no matter how rudimentary, always be refining it. But if you're stepping through criteria that have worked in the the past, you're not gambling. Now you're risking money. Okay you can say well Tim you're risking 100 bucks and maybe it goes up.
Maybe it goes down. but with trading, if you're going through a process and sticking to that process, you will be rewarded over time because of the fact that it is an actual process and not random. Okay, next is that you need a lot of money to start trading. um I Actually like think the exact opposite.
Okay, I think that even if you like like I've talked to newer Traders and maybe they sold the business or they've retired or they got a trust fund and they got a little bit of money and like they've never traded before like hey Tim I'm gonna you know I'm gonna put 200 Grand in my trading account I'm like no I'm like please don't Okay, you know nothing at this point. Okay what I want you to do is show me that you can make money with a two thousand dollar account. Okay, because if you can't make it with two thousand dollar account, all you're going to do with that 200 Grand account is lose a boatload of money. So if you're going to blow up an account, which would you rather blow up, would you rather blow up a two thousand dollar account or a 200 000 account? So I actually think the constraints are a good thing? And listen.
Flat out: I'm sure you're on the channel because you have a small account now. Full disclosure: are you going to buy a mansion this year? Day trading with a small account? No, you can buy a Lambo this year. No. But what you can do this year is learn how to trade.
Okay, your number one goal as a new Trader is to learn how to trade. Okay, and that's what everybody overlooks. They want the Lambos They want the Yachts They want the mansions and they never learn how to trade. Focus on the process. Okay, um, next thing is that people think they can predict the market. and uh, that's why I Always say we don't anticipate, we react okay. one of the biggest things you're trying to do is not play guessing games, just riding momentum. Okay, look to ride momentum on hot sector stocks with float rotation and Catalyst and chart patterns.
Okay, and don't look for home runs. Don't try and squeak out every penny from the move. Have realistic goals and realistic expectations and ride the wave. Okay, like I think a lot of it's kind of a corny analogy.
I Don't know if I've ever used before I Think a lot of new Traders out there. like trying to create the wave. Like like trying to somehow get these stocks to do something. When we're talking day and swing trading, you're just hopping on.
You know they're like it's like the kid on the skateboard. grab it in the back of a car. Okay, you ride that momentum and you take small gains. Don't anticipate.
react. Okay. Next is and this trips up a lot of Traders Sitting there all day. Um, listen, there are specifically defined better times of the day.
You hear me talk about buying pre-selling pre. That's a strategy we use in pre-market You'll hear me talk about the 945 window. That's our way to avoid the market open. ShakeOut You'll hear the 2PM window.
Uh, after hours. Runners You know there are specific times of the day that are higher probability where stocks are less choppy and more directional. and what happens is you have some good success early in the day because you follow the buy-in pre-sell in pre or the 945. Rule and then it kind of goes into midday.
There's not much going on and you board them, trade and you get back all your gains. Focus on the best times of the day when I Talk about the best times of the day. We go over that every single day in the daily income Target system. I'll put a link below: I'm live at 8 30 Eastern Bryce Two is live at 9 30 Eastern I'm live at noon Matt Monaco is live at 10 30 at night.
Like you have guidance all through the day going over these setups and the best times to trade and the cool thing is these webinars are six times a day even on weekends and they're 100 free! Check out the Daily Income Trader system Thank you.