Ep 60 – Catching Up with Roland Wolf, P1
Today, the Steady Trade Podcast presents the 10th installment of a new series, where hosts Tim Bohen and Stephen Johnson share a few of their favorite trading resources.
In recent episodes, they’ve featured clips from the Tim Sykes Trader Checklist video, complete with commentary and discussion. This episode, as well as the upcoming Episode 61, will continue the discussion, but with a special guest: superstar trader Roland Wolf!
Be sure to check out this episode on YouTube to see the accompanying video!
About Trader Checklist
Trader Checklist is a video by Tim Sykes that features 14 chapters of invaluable trading information. It’s available for free online, so don’t miss out.
Awesome Giveaway!
To enter, first watch Trader Checklist. Then, at the end of this multi-part episode, you’ll be invited to take part in a quiz based on the Trader Checklist principles. Stay tuned!
What is Roland doing now?
Before getting to business as usual, Tim and Stephen catch up with trading superstar Roland Wolf.
Roland hasn’t been trading as much in recent months. The markets have been slower, Bitcoin momentum has died down, and it’s a time of watchful waiting.
Roland talks about how he still checks scans daily but he doesn’t try to force trades; rather, he adjusts to the market. The current market climate has prompted him to revisit patterns from his past, like what he calls “bottom bouncers,” to stay alive as a trader.
It’s not always ideal. “I hate dumpster diving for bargains,” he comments. But sometimes, as a trader, you’ve gotta do what you’ve gotta do.
Roland also talks about the benefits of revisiting your studies during slower times, and shares some of his go-to lessons and resources. He also shares some of his personal tips and tricks — you won’t believe what he does with sticky notes!
Oh, and he’s working on a new DVD too, so stay tuned!
On to the Trader Checklist video clips! In this episode, instead of playing several clips, the hosts focus on breaking down just one or two of Tim Sykes’ trading examples from the video.
Clip: In the clip, which is played in segments, Tim Sykes talks about stocks that he bought premarket.
Tim isn’t generally a fan of premarket buying due to the low volume and risk involved. But this was a trade he couldn’t resist, with a catalyst strong enough to warrant the buy.
Was it a success? He talks about what went right, what went wrong, and the risks you run with premarket trading.
The Steady Trade take: Tim, Stephen, and Roland all weigh in. Tim agrees with Sykes’ logic and agrees with the trade. Roland doesn’t play 52-week breakouts like this often but he’s intrigued. Stephen agrees that the chart is clean and looks promising, explaining why “these are always the ones that run.”
Clip: Delving deeper, Tim Sykes talks about the phenomenon of a dip before a spike, and how to take advantage of it. You don’t know how big the dip will be, so you have to move quickly because it can get very scary very fast.
In a series of clips, Tim discusses how he tries to mitigate the risk involved with trying to take advantage of a dip buy.
You’ll learn his thoughts on what makes a trade worthwhile, what to look at in the chart spikes, when to buy premarket, and what you stand to gain (and lose).
The Steady Trade take: The hosts talk about the risk that comes with trying to take advantage of a dip, which must be strongly considered when making such a trade. They each score this stock on all of the Sykes Sliding Scale (SSS) criteria, and the results may surprise you!
The traders also discuss the importance of being able think for yourself. The market environment is ever-changing, and you have to consider that in every trade.
One of the biggest values of the SSS is that it’s free and that it gives you a good template. You may vary it slightly to find what works for you, but having that vetting process is so important.
Got a question?
Want to ask Tim and Stephen a question about the episode? Visit the “submit your audio” portion of the website to ask us anything.
Thanks for tuning in to the Steady Trade Podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.
Did you like this episode? Be sure to leave an iTunes review!
good interview
Great podcast. Thank you for all the free but invaluable information you guys always deliver.
I am going to make my comments but I don’t know all about this Steadytrade .com I am here to view and fill their foot steps that is Tim Sykes, Tim Bohen and Steven Johnson and all the experts that have laid all information out for we newbies first. and foremost I thank you all for your precious time and information’s you have done for us to learn and follow by trading pennyi stocks thanks immensely and a million God bless you all and strengthen your sharing spirits
Good comparison of Tim Sykes Sliding Scale, each person has a different view, Tim Sykes total score was 66, Tim Bohen was 41, Stevens was 51 and Rolands was 43. My take away of this is $TSRI was NOT a good trade (SSS scores were below 80), however I would have taken this as a RED to GREEN when after to opening decline it came back to the opening price and started higher. On this up swing when it went above VWAP would have been the time to buy in. Let me know if I miss read this?
This podcast is golden! So nice to see four articulate gurus “in action” and the differences there can be among them in analyzing the same ticker. Thank you!!!
It was nice to get another point of view in there, especially from an expert like Roland Wolf.
Taking a shot and hitting short does not sound like a good strategy. I do enjoy the humor.
Thank guys.