Super Trader Roland Wolf Part 2
Episode Two of the Steady Trade Podcast features Tim and Stephen interview with trading phenom Roland Wolf. The interview was too good to cut short but too long to share in a single episode, so we broke it into two parts.
In Part One of the episode, Tim, Stephen, and Roland speak frankly and extensively about Roland’s ascent to trading success, critiquing and commenting on his progress and offering great suggestions for how new traders can use his experiences to their advantage.
In Part Two of the episode, the three traders delve deeper into Roland’s career advancement and how he became a mover and shaker in the world of day trading, and also address some powerful lessons he’s learned so far in his career.
The Italian Job: a pivotal career moment
Bromance, career development, and advancement. For Roland Wolf, a trip to Italy for a trading summit hosted by Tim Sykes proved pivotal in his career. For one thing, he was surrounded by traders, which was a new experience. Not only was he able to meet one of his trading idols, but also to connect with a lot of like-minded traders.
Trading can be a fairly isolating profession, and it can be difficult to truly connect with others when you only know them by a screen name. It was also in Italy that Stephen and Roland began what can only be called a storied bromance!
In the interview, all three traders discuss one of the big advantages of going to conferences and the power of connection with other traders. More than mere networking, they are like a vacation, therapy session, and career boost all in one!
Trading lessons you can’t buy
As the interview progresses, Roland shares with Tim and Stephen some of the lessons he’s learned so far as a trader. Among them:
- The importance of studying. For Roland, studying didn’t come quickly or naturally. This is partially because he’s a busy guy: he has a wife and children, and when he started trading, he even had a full time job! But now, he sees it as a vital part of his process because he’s seen the results it delivers. He’ll literally wake up at 4:30 in the morning to fit in studying and research time. Even if you have to get creative with your timing and end up tired for a while, it’s worth taking the time to study.
- It’s not luck. At first, Roland thought it was luck that kept him winning in the market. He no longer believes that. Yes, he has a talent for picking great stocks, but it’s only been through augmenting that natural talent with education and research that he’s really been able to use it to his reliable advantage. In the episode, he shares his thoughts on talent versus the results delivered by consistent screen time.
- It’s not just about money. To really gain success as a trader, you have to develop a passion for the process. Anyone can work to make money in the short term, but as Tim Bohen says, “Are you willing to sit at that effing computer for 12 hours per day?”. Adds Roland, “If you don’t really enjoy it and you’re not passionate about it, what’s the point?”.
Roland shares his secrets
To finish out the episode, Tim and Stephen get down to nuts and bolts. They quiz Roland on his methods, including what indicators that he looks for.
They also get real, talking about the best and worst trades Roland ever made. Yeah, he’s had a few: with win rate of about 64 percent, he acts as proof positive that even hotshot traders don’t get it right all of the time. However, as the traders discuss, this doesn’t mean you can’t be profitable.
They also discuss Roland’s most reliable setups and how he approaches a trade. New traders will benefit from his universal tips that can be employed by traders at any level.
Moving forward
As the interview comes to a close, the traders discuss Roland’s next steps. At the moment, he’s beginning to contemplate short selling, but he’s in no big rush to rock the boat. Ultimately, much of his success has been thanks to his contrarian tendencies, and so he’s cautious in the bull market. Ultimately, he wants to be consistent and safe in his trading.
They finish out with Roland sharing some wisdom and goals for the road, and there may or may not be a fade-out montage with Stephen and Roland double-dutch jump roping into the sunset as the interview comes to a close.
Win big!
A new season of the Steady Trade Podcast means an all-new giveaway! Visit our giveaway page for more information!
The BEST EVER!
Great job guys!
Thanks for listening Joseph!
Crazy how I was just experimenting on overnight holds for a swing these past two weeks and Roland talks about this! Glad to see I am on the right track. Great episode, great content! My favorite episode thus far!
Very cool!
Inspired !!!
Great!
Great stuff! For me PDT is a thorn in the side, BUT it has made me FOCUS on ONLY the best trades. Good luck Roland! Thanks guys!
Great attitude. PDT is annoying but it is a reality, best to manage it with Rolands techniques.
I’ve been thinking about overnight trades as well. Great info on what to look for in a setup for this type of trade. I’ll be looking for more info on this
Great Episode! It was great to hear about the grind, the effort and time it takes even the most successful traders to get to where they are at. True dedication and its very inspiring! Thanks guys!
Great comments, Dustin! Thanks
Great, you guys are amazing.
Roland when are you making a DVD?
Good question!!
Awesome podcast! I’m still getting into this whole tech stuff with podcasts, apps, and all that, but I’m learning how to use the things better. GREAT knowledge on these casts! My biggest problem, so far, is doing the research, pretty much know its great catalysts, buy into it, and then I get worried when it dips down and second guess myself n pull out. I’ve literally cost myself a couple hundo in actual funds, and if I would’ve held like my original plan was, I would be up several thousands. It’s hard learning to trust what you see when you’re new and don’t know if you’re seeing it right or seeing hope rather than facts. Just me though. Keep up the greats casts guys! This is going to be huge for all to have.
Good comments, reminder we go into research and plans a lot in season 1 so check those out, plus we will talk about it more in the future of course. Thanks for listening!
What a great podcast. Love how Roland has made the great ideas and can make the money with VWAP. So great Tim Love the podcast and hope you continue with more after this season. Great inspiration to learn more.
Thanks for the great comments Sue!
Thank you! These podcasts are invaluable to me as I learn to trade. It all makes so much sense, the way that you guys so easily discuss these tools and experiences. I really enjoyed listening to Roland’s experience and what he finds helpful. I can’t wait to see what’s next!
Glad you found them useful and entertaining Vanessa! Thanks for listening.
Another awesome podcast, Great questions from TBohen and Stephen. Thx to Roland for all the tips, I really appreciate Roland sharing his tactics and process. I like the idea of having at least a couple of accounts to have more plays, I didn’t know I could have different accounts with same broker. I am under the PDT rule and it is difficult to start with a small account and a few plays only. The commission’s alone has taken more from my account then wins or losses. Super thx to you guys 😉
Very proud that we are bringing educational aspects to the podcast, thanks for the input!
Great episode. Roland is truly dedicated and gave me a lot of tips in this interview (like the overnight hold and waiting for secondary spike) as I’m still under PDT. I’m grateful and hope he will come back to Steady Trade again soon!
Thank you, this was really full of great information. Katherine Crawford
setting my clock to get up and start the day studying.
Awesome attitude!
Awsome Tim, really great job. I really like hoe you guys are keeping it real. I really understood what Rowland was talking about!
Thanks Andrew!
Roland wolf is an inspiration I have no doubt he’s going to become one of the greatest. And ask for me as helping me to become a great day time Trader someday. Keep it up Tim Bohen and Steven Johnson doing what you doing with this podcast it is a very very usable tool to learn how to be trader…
Agreed, Roland is pretty amazing and a great guy too!
Great episode, I like the flashback on his journey as a trader!
Thank you guys for another great show
Thanks for the nice comment!
I love this podcast guys keep up the good work and I’m glad you guys are all given back to fellow Traders I seriously need to learn this I really do enjoy it times are hard right now so hopefully I can catch on from the stuff I learn from on here plus studying. I think you guys all have some great pointers I’m going to definitely try swing trading to get Rollin if rolling wolf can build his account like that sounds like a good plan I’ll have to give it a try
I re-watched this podcast this morning (while painting a door) for the third time because I wanted to be reminded once again of how–while under PDT–Roland concentrated on first green day overnight plays. I’ve been doing just that and it’s done two things; forced me to be more patient, and (drum roll) helped me to reduce losses, win more trades, and become profitable. I hope to turn my losses into green just like Stephen. If I can pull it off can I join the celebration in Dubai? 🙂
Great to hear Kerry!!
Roland is my new hero! Great interview, fellas
Thanks Brad!
I’ve been studying non stop for the past 3 months with the DVD’s, made a couple trades, and I’m a mom to two toddlers. I finally found your pod casts just last week and Roland’s views are exactly what I needed to help narrow all that info down to just one thing that will work. You guys are amazing! Thank you for all you do. Your podcasts and interviews help to keep me positive that this can be done!
This was a great interview. I am studying as much as possible and hope to hear more great interviews on future episodes. I get a little discouraged sometimes, but listening to you guys helps the nerves of being in real trades. I am still trying to find a strategy that works best for me. I will definitely keep listening!