Still Under Construction, but in an Overall Uptrend | STR 125

An open and transparent book. That was certainly the overall theme of this Welcome Back interview. Our guest has not only been on the podcast before, but I've also hung out with him in person on two occasions so I wasn't shocked by his honesty... the guy is a quality individual without question. Stephen (chatroom alias, "PH") shares his continued quest to gain solid consistency in the market as he trades and goes through many situations most people can relate to. He still has things to work on, but he's overall in an uptrend and that is what matters. Higher highs and higher lows. He also revealed a new venture he is undertaking that is designed to help all new traders. Be sure to stay until the end as we talk more about it. Notes: Today we are speaking with Stephen a.k.a. PH. His original podcast is linked in the notes below. Stephen started off mainly investing in companies he was familiar with when he just started. While Stephen went through many different strategies starting out, he had to go through that to find what exactly he is comfortable with and excels at. Now he primarily focuses on trading gaps which has led him to a high win rate and much smaller losers than winners. Stephen has utilized the concept of R, which is initial risk. This ties directly into Risk vs Reward and the big emphasis Stephen makes is the fact that it is dynamic. While he accepts the risk on entry, if he sees a more logical location to move his stop loss and lose less, he always will! If a trade doesn’t meet his determined targets vs risk, he passes on the trade. He has rules that he sticks to every trade but there is a need to have some flexibility. Considering Stephen is an entrepreneur, he launched https://www.stocktradersjourney.com/ to document his journey through education and his trading. He offers reviews of various trading education, trading signals and anything else that pertains to trading the market. He is doing this without any affiliation compensation. We truly enjoy these follow up interviews to really show the progress our community members have made. Learning to trade and trade well is not an overnight process but with hard work and dedication, any one truly can learn how to do it. Quotes: It’s the evolution of the journey and trying to find the strategy that most fits our individual personalities. The R is your risk value. Every single trade I’m willing to risk 1R to make 2 or ideally 3R. I don’t just set it and leave it though. You want to have rules but need to remain flexible. The market isn’t a rigid thing. It’s a living, breathing thing you can’t control. The purpose of this website is to share with people the mistakes I’ve made so they can learn from them. Links: https://claytrader.com/podcast/episode015/ https://www.stocktradersjourney.com/