I recently learned I’m not quite as tough as I think I am…
And I interviewed an ultra-rich and famous but amazingly charming finance guy…
Plus, check out this absolute kill shot of a trade that we spotted in the StocksToTrade Pro chat room…
It’s that time again: Welcome to the latest edition of Bohen’s Take. Let’s do this.
Table of Contents
- 1 What’s the Haps
- 2 Awesome Setup for Small Accounts
- 3 StocksToTrade Feature of the Week
- 4 What Am I Reading Now?
- 5 Tim Bohen’s Take: The Wrap
- 6 One Platform. One System. Every Tool
What’s the Haps
Well, gang, a lot’s been happening lately…
I had a bit of a tussle with someone on social media. He saw that I eat a diet that consists of about 95% red meat and told me that if I didn’t eat more plants, I’d end up dying…
But the joke’s on him. I recently had my blood work done and the results came back pretty darn good. About as close to perfect as you can get, in fact. I’m no scientist, but I’d say if I can do that eating almost totally meat, I’m doing pretty well.
View this post on Instagram
Bwahahaha dude on social tonight is like “You need to eat more plants or you will die” I’ll post zoomed in pics if you want to see it, but got my bloodwork done this week and it is literally perfect!! Guy is probably half my age saying I’m gonna die in ten years eating 95% red meat. Meanwhile I’ll put my money on outliving him. #meatheals #carnivorediet
On the SteadyTrade podcast front, we had a stellar guest on recently…
It was none other than Mr. Jim Rogers, the famous hedge-fund bigwig turned global explorer and author. He lives in Singapore, so we had to record the podcast at 4 a.m. my time. But I was totally happy to do that.
Now, keep in mind, Rogers is a famous guy worth hundreds of millions of dollars. If he wasn’t the friendliest person to me, I’d completely understand. I’m just a trader in rural America, right?
But here’s the thing: He might just be one of the friendliest people I’ve ever met, if not THE friendliest. He’s definitely in my all-time top five.
We didn’t pay him a cent, and he absolutely didn’t need to come on the podcast. But he was happy to have a long conversation and seemed totally focused and interested the entire time.
What an absolutely amazing guy — I’ll tell you more about him later in this post. And hopefully, I’ve piqued your interest in checking out the podcast when it’s released.
As far as I know, it’ll be out on August 10. Head over to SteadyTrade to subscribe and get a notification as soon as it drops.
That’s not the end of my interesting stories though…
I also did a little one-on-one coaching session with Kim Ann Curtin, the Wall Street Coach. Some of you may remember her from a previous podcast episode.
It was quite an experience.
Now, let me start out by saying that Kim’s been awesome. I loved having her on the podcast, and her book was an amazing read…
But in our first coaching session, we dove into a little psychoanalysis.
If you know anything about me, you might know I’m a bit of an aggro, high-testosterone type. Not gonna lie: The psychoanalysis made my woo-woo meter start pinging. I didn’t quite buy it initially.
But we got through it, and it really surprised me. Kim was able to get me to lower my guard a little, expose a little vulnerability, and admit some weakness. It was powerful stuff!
So, I’ll continue the coaching with Kim, and I’m really excited to work with her. And I’ll be sure to update you on how it goes in future updates.
Awesome Setup for Small Accounts
We had a great little trade setup earlier this month. It’s a setup that’s probably the bread and butter of what we look for to help new traders with small accounts.
The setup was in a little energy stock called Camber Energy Inc (NYSE American: CEI).
The news came out, and we saw the stock gap up 50% or so in the pre-market session.
After the market opened, the stock went on one heck of a bull run throughout the morning, with a relatively shallow pullback.
We then saw a second spike higher with what we at StocksToTrade call a “2 p.m. Window Move.” It’s basically the tendency of a hot stock to start a major leg at around 2 p.m.
So, the stock opened in the low $2s and eventually hit a high of over $9. HUGE disclaimer: I’m in no way saying or implying that it’s easy to catch the entire move…
But there were clearly opportunities to catch $1, $2, $3 or so…
We covered it live in the StocksToTradePro chat room. I told everyone, “Please never hold something like this overnight. It’s purely a day trade.”
Turns out that was spot on. The stock collapsed in a grand supernova style the very next day, heading all the way back to where it started its spike.
A few takeaways from this:
- These types of trade setups with news, a low-float stock, and insane volume … They can be pretty simple to read and great for traders with small accounts.
- It brings up one of my favorite trading sayings: “Amateurs open the market, and professionals close it.” The smart money was clearly entering well after the open and selling toward the close.
- Like always, when you get a crazy spike in a low-float penny stock, it’s probably a good idea to sell when you can.
All in all, this was a great setup. These are the kinds of trades we look for each and every day in the StocksToTrade Pro community.
You can be a part of the action … Join us at StocksToTrade Pro to see my trading screens and learn my views on the markets each day. Plus, you can participate in the chat room, network with peers, and attend cutting-edge educational webinars.
StocksToTrade Feature of the Week
When you think about it, if you’re gonna sit in a chair and focus on something for hours each day and expect to perform, you probably want to be in an aesthetically pleasing environment.
I’ve designed my trading room to help me focus and stay balanced during the long trading day. I have photos of my family, little trinkets, and a tricked-out trading desk — just to name a few things…
So, in knowing the importance of aesthetics when it comes to performing, this week’s feature is simple: the StocksToTrade charts.
I’ve used quite a few trading platforms over the years. And hand on my heart, StocksToTrade has to have the best-looking and most-functional charts out there.
With a few button clicks, you can go from a very basic (and great-looking) chart to one that’s overlayed with numerous indicators, price levels, alerts, and more.
Don’t just take my word for it. Check it out for yourself — get the charting capabilities plus all the other amazing features on the StocksToTrade platform. Get your 14-day trial today for just $7.
What Am I Reading Now?
Prior to having Jim Rogers as a guest on the podcast, I made a goal to get through a bunch of his most well-known books. Sadly, I didn’t squash this goal as much as I’d like…
But still, I’m continuing through them. I recommend literally every single book Jim has ever written. They’re full of all kinds of wisdom and interesting stories.
“Street Smarts: Adventures on the Road and in the Markets” is a great one to start with. It’s kinda part autobiography and part Jim’s life philosophy.
You’ll read about his upbringing, his thoughts on how all kinds of geopolitical and macro events are related, and his many observations from traveling the world several times.
After that, “Investment Biker: Around the World with Jim Rogers” is a great one to dive into.
The absolute madman (my kinda guy) Jim was a wealthy retired financier. He decided to get himself a motorcycle and circle the Earth on it.
It was a pretty big deal at the time. Even Time magazine dubbed him the “Indiana Jones of Finance.” How cool is that?
The book covers all kinds of great stuff: his philosophy on economics, hatred of socialism, motorcycle maintenance problems, dodgy border crossings, the investment climates in the countries he visited…
There are a few more books he wrote, and one that looks really cool to me is called “A Gift to My Children: A Father’s Lessons for Life and Investing.”
I admit I haven’t read it yet, but it’s basically a compilation of lessons he wrote for his two young daughters. I could really see myself writing something similar for my own kids at some point…
From the little I’ve read, he talks about how to choose a path to follow in life and the importance of integrity and independent thinking as well as knowing your strengths and weaknesses.
And here’s an awesome fact I learned about Jim: After moving his family to Singapore, he cajoled his young daughters into mastering the Mandarin language.
They got so good at the complicated language that when they’d make a speech in public, everyone would gasp at these little American girls speaking absolutely perfect Mandarin. Awesome stuff!
Tim Bohen’s Take: The Wrap
That’s it, folks. I hope you enjoy reading about my life as much as I enjoy living it.
Absolutely, be sure to tune into the upcoming SteadyTrade podcast with Jim Rogers. We had an amazing chat, and I think everyone out there in Trader Land should get to know Jim.
I also hope you learned a lesson or two from the gangbusters CEI trade. If you break down the setup logic, you can try to find a few of these setups for yourself.
And if you’d like a little handholding, you’re always welcome to join us at StocksToTrade Pro and see how our members and I do it.
Until next time!
Jim Rogers has been one of my favorite finance personalities for many years now. Who are some of the market personalities you love to hear from? Leave a comment below and tell me.