Tim and Stephen reflect on Stephen's recent string of losses so that he can move past it and get back to making winning trades.
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Hope you stay strong Stephen! Great episode men! Thanks so much!
Don't feel bad; i just checked, i lost 13c with $AETI on June 4th, and i was going long!!!
I definitely agree we need to be a master of 1 strategy. But there is the next step, right? Become a master of 2 strategies. We need to adapt to changing markets. Tricky, for sure. Patience, grasshopper 🙂
I have the formula for you my friend
Live 4ever
Please don't give up.
Another question for the PDT rule
What if you hold overnight a stock and you sell after hours or before the market open? Does that count as an over night hold or do you use a day trade if you dont wait until the market opens?
Stephen dont short 1st day runners with NEWS
just cut out shorting floats under 10 million.. simply bcuz the 1 loss you WILL get will burn your account faster than all the wins
on ETRADE you can buy buy buy and sell all at once to be 1 trade for ex. buy 500 buy 500 sell 1000 or you can buy once and sell in small lots buy 1000 and sell 500 sell 500 BUT if you BUY BUY SELL SELL thats 2 trades
Keep yer head up Stephen! You have the greatest mentors around! Tim is right, you've put in the time and work. You got this! You are awesome, you make me laugh and learn every week. I on the other hand, am a complete r- terd, and make the same freaking mistakes over and over…
Great podcast once again guys! Tim, I really appreciated your emphasis on recognizing the "work" and hours that we put in to be successful in the market. Just as you said, it can feel like a lottery ticket and it only takes a few clicks but it sure does take a lot of work and dedication to fit this in with your schedule and put in the screen time and always be reading, studying, learning, adapting, refining until you do finally reach that point. We EARN that shit!! Stephen, you can do this. You know how to do it, you just need to work on that discipline.
I have faith in you GQ keep going dont give up.
Tim your a funny guy. Keep him motivated.
Stephen just wanted to say thank you because I feel that my ups and downs of trading are happening at the same time as you. It's been really inspiring to see someone going through the same struggle so publicly. Keep your head up and keep studying. You are an inspiration and fight through stuggle keeps me going too! Much love from Illinois. Also, thanks to tim for being that never ending voice of reason for all of us newbies.
Damn I love this podcast. Thanks again guys and keep studying and staying disciplined Stephen.
Focus on the best setups. This market favors longs so going short is already risky. Since shorting is your bread and butter, wait for the stock to break down, down anticipate. If you get emotionally rattled, stop for the day and come back the next. Cut your losers short, let your winners run. And, cut down on the drinking!
Man I wished that I had people to tell me to keep pushing, millionaires mind you, and have faith in me. Most of us are either pushing ourselves or have a small knit group of people to push us and don't know about trading. You should be feeling blessed right now. Keep going man. I have a small account and losing also.
If you aren't adapting to the market you aren't making money! THIS Market clearly favors Longs with the Nasdaq near all time highs.. Stephen plz start Going Long 😂
Stephen, thank you for your willingness to be so transparent, even if the entire episode was about your failures. That takes a LOT of courage. No one should be talking trash about you. No one is or ever will be perfect with trading. The reason I became a Challenge Student was because I couldn't find any other programs out there that were THIS REAL and THIS TRANSPARENT. So again, Thank you.
These have been the best episodes! 90% of traders fails and these eps are the ones that will help motivate us 90% Quitting is not an option. Head up, take a break and if need to paper trader to regain confidence. You know how to trade Stephen just gotta work out the metal trips! Mahalo guys really appreciate your dedication to helping us traders! Aloha and have an awesome trade!
as meticulous and well studied stephen seems to be, i think this si what will help turn him around and really refine his discipline.. you will be green!
The daily trading coach chapter 6 should get you back on track. I also trade a similar pattern and the 4 weeks it's been low profitable weeks or loosing weeks. Not that I have tried this you may wanna find a partner to trade with, learn each others stats, comment on them and when trading run the trade past each other and when confused about when cutting a position. Don't quit no one what's to live a normal life.
Stephen, would you take back your whole big account process if you are given a choice? Or is it a good process and that you learned a shit ton?
Trading 100 is good advice. Trade 1 share if you must. Until he's consistent again there's no reason to swing for the fence.
hey jonkster, just drop down to 1 share. sounds nuts but if Mark Douglas advised that in his time, he's not wrong . you need to have skin in the game but you have to remove absolutely all stress to get your head right… f**k 100 shares. drop to only one until youre firing on all cylinders again. forget the trade costs, getting over the crack in psychology is massively more important. good luck chief.
Stephen I suggest you take a week off and re- gather yourself Come back fresh and trade small. Only my suggestion!
You will get there chin up!
champ!
damn Bohen grows a beard fast.. didnt he just shave last episode?