Discipline
Jul. 10, 20225 min read

Crucial lessons no matter the market

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Written by Tim Bohen

New traders want to make money fast… 

They see some of these insane percent gains in penny stocks and they’re eager to catch the move and ‘make bank, bro.’ 

But the market doesn’t work like that…

There aren’t big gainers every day like we saw in 2020 and 2021. 

Traders today have to be more patient and extra diligent.

So today I’ll share why successful traders show up —  even on slow days. And why it isn’t a waste of time… 

Plus, I’ve got some HUGE news

This can help you make the most out of slow market days — check it out here

Why Showing Up Is Half The Battle

While I was in the morning SteadyTrade Team webinar yesterday, it was a noticeably slower day. 

There weren’t a lot of gappers, the overall markets opened lower, and it was generally quiet… 

It was the first day back after a long weekend, and it felt like a lot of traders slept in. There wasn’t a lot of frothiness. 

But I didn’t sleep in… 

I was up at my usual time, did my workout, followed my morning routine, and showed up for the webinar.

And that’s the kind of attitude I think all traders need.  

Because even when there aren’t a lot of plays, it’s not a waste of time to show up…

First of all, you never know in advance which market days will be action-packed and which will be slower.

If you want to sleep in, you risk missing bread and butter setups. That can lead to revenge trading and all kinds of other bad habits.   

Second, showing up every day gives you the experience you need to be able to ‘read the room.’ 

You want to expose yourself to many different market conditions and environments. That way you can learn how to adapt your trading to what you see. 

You’ll gain the experience to be able to spot when it might be best to wait until the afternoon, or when you can be more aggressive. 

That can help you avoid crucial mistakes, like chasing random plays and spikers when your edge isn’t there. 

Take a Lesson From Successful Traders

Listen, I know slow days can be annoying. 

I lived and traded through the 2012 and 2013 markets. It was brutally slow. But the reason I’m still here today is because I didn’t give up. 

Successful traders show up. Every. Single. Day.

Look at traders like Tim Grittani and Tim Sykes. They’ve traded through slow markets. And they’re still around to talk about it. 

Jack Kellogg is a relatively new trader, but he surpassed $10 million in trading profits by showing up every day and putting in the work. 

He’s had incredible single trade gains like his recent $283,453 profit shorting Lytus Technologies Holdings PTV. Ltd. (NASDAQ: LYT). But if you look at his stats, his average winning trade is less than $5,500…

That means his $10 million in profits is the culmination of stringing small wins together

Remember that success requires focus, consistency, routine, and strategy. 

You don’t make it as a trader by showing up when the market’s hot and making random trades. 

Those epic single-gain trades don’t come around every day. 

But there’s always value in showing up. 

Even if you come to the screens and realize it’s a slow day — that’s experience and knowledge. 

I hope today is hotter than yesterday and we get a low-float box checker. But if the week continues to be slow following a holiday — it’s just one week. 

Show up anyway and work to get 1% better. You can start today by reading my NEW ebook, “The Ultimate Guide to Part-Time Trading.” 

I’m offering it for FREE here

If it’s a slow market day, use your downtime wisely! 

Have a great day everyone. See you back here tomorrow.

Tim Bohen

Lead Trainer, StocksToTrade