Interview with Super Trader Steven Dux
One of the biggest goals of the Steady Trade Podcast is to help you realize your trading goals. We want take you from wherever you currently are in trading, whether you’re a newbie or an investor who wants to change to the day trading track, to where it is you want to ultimately go in your career. As part of this mission, we occasionally bring in guests who have found success in trading to help inspire you to pursue your own goals.
As success stories go, it doesn’t get much more inspiring than Super Trader Steven Dux . Still in his early twenties, Super Trader Steven Dux has already earned $1.3 million trading penny stocks in less than two years. In this episode of the podcast, hosts Tim Bohen and Stephen Johnson interview this trading phenom about his meteoric rise in the penny stock world, how he did it, what he still needs to learn, and what keeps him going.
A disclaimer
Remember: this is the Steady Trade Podcast for a reason. We try to focus on ways to find consistent, steady success in trading. As such, it’s important to realize that every journey is different. When listening to interviews like this, do be inspired, but try not to compare yourself to the trader in question. There are all sorts of variables involved in every trader’s process and success, and you need to keep your own expectations realistic.
Stephen Dux’s path: humble beginnings
Stephen Dux began his trading path began in early 2016, when he started out trading ETFs with a friend. After a few small wins, he decided that he could make some serious money if he got his act together. After going down the Google wormhole, he came across Tim Sykes on social media. He was initially skeptical that Tim’s offerings were a scheme, but after buying a DVD and checking things out, he became convinced that trading penny stocks was worth a try. He was intrigued by the volatility and action of trading penny stocks. The fact that you can make a lot of money in a little amount of time didn’t hurt, either.
Figuring it out
Stephen Dux loves strategy games, and he began to look at trading penny stocks from a game player point of view. The psychology if the stock market is similar in many ways to strategy, and it “clicked” pretty fast for him. Early on, as he puts it, “I got lucky”. In spite of poor risk management, he began to make gains pretty quickly; his first big profit was an incredible $12,000. Yeah, hosts Tim and Stephen (Johnson) are willing to admit that they’re a little jealous of that one.
Shaping a strategy
Not to make you feel like a slacker or anything, but in addition to being a superstar trader, Stephen Dux is also a student. While studying engineering and accounting doesn’t necessarily inform his trades directly, he has been able to apply some of the principles of his education to trading. In particular, one of the key aspects of his approach to trading is looking at it from a strategic standpoint. In the podcast, he talks about how he tracks different sectors and catalysts to decide how and when to trade. As Stephen Dux acknowledges, he’s not the best at managing risk, so having a strategy is very important for him, and has been a key factor in his success.
The king of the spreadsheet
Another big factor in Stephen Dux’s success is his incredible spreadsheet system. Among certain circles, Dux is known as the “king of the spreadsheet”. He maintains thousands of spreadsheets which help him track patterns, which allows him to plot strategies and execute trades. As the interview unfolds, you’ll begin to realize how intentional his methods are, and how his success is very much due to careful monitoring and planning versus some random fluke trades.
Moving forward
After spending time talking about how Super Trader Stephen Dux has attained and is maintaining his trading success, the conversation shifts to future plans. And Stephen has some incredible things in the pipeline.
For instance, those spreadsheets? Stephen would rather not deal with those thousands of spreadsheets forever, and so he’s working on engineering an AI system that can pore through his research and execute trades for him. Host Stephen Johnson may not be able to help with the algorithm for such a program, but he’s quick to create a name for it: the Duxinator.
Stephen Dux has also been working on developing DVDs of his own to educate and inspire new traders. In the podcast, Dux and hosts Tim and Stephen discuss what viewers can hope to learn from the lessons.
Win big!
Don’t forget: there’s a giveaway in the works! Season two’s giveaway offerings include incredible prizes such as a Stephen Johnson pillowcase (and, you know, other things like a Macbook pro, an Apple TV device, an iPod touch, an Apple Watch, a $100 gift card, and 3 months of Stocks to Trade). Just like in Season One, there’s also another “Greedy Little Bastard” prize, which includes all of the aforementioned items!
Visit our giveaway page for more information, and stay tuned for Episode 6!
Excellent Podcast guys.
Stephen Dux’s methodology is incredible and would be interesting to learn from his DVD. I do look for to the release and I am looking for the nest Steady Trade Podcast.
Duyx is a very interesting and inspirational guy for sure!
Awesome and interesting interview!!! Love it
Great Podcast, guys Dux is amazing to listen to!
Thanks Derrick!
Guys,
Thank you for making these podcasts for the community! I’d have a suggestion to further improve them. When you interview traders would you have let them speak more? In this episode, Dux speaks about 10% of the time.
Cheers,
Alex
Good criticism Alex, I do think I talked over him a lot, will work on it! Thanks
Thanks again for the steady trade podcast! Each episode gives another little piece of knowledge into particularly the psychology and mindset that you need to have as a day trader of penny stocks. I would love to know where he closed out that position when he was down $58,000 And the emotions he was experiencing as he went through that. As a Trader with a small account I have looked at some of my percentage losses and thought, there is no way I would have stayed in this position, at this percentage if I was trading with more money. I would also love to see you guys do something on taking gains. I have noticed how difficult it is psychologically to go ahead and take those gains instead of waiting around for a big kill and then suffering losses.
Thanks Lads, great interview and Dux, congrats on your success, very interesting with your AI development… will be interesting to see how that develops.
Good webinar.
Another Home run, from the Steady Trader podcast, this time interviewing one of the best trader of this year Steven Dux.
P.s. If you guys continue bringing good into the podcast you’re going to make me a pro too. Keep it up guys
Great comments, thanks Carlos!!
Love the podcast. A lot of the time the volume went down so it was very hard to understand what was said. There is always new info to learn form your time you do to make these videos. Thanks Tim andSteve
Steven Dux is inspiring and i love how he values/spends his time (kind of like Roland) and uses every minute, literally, he can, either in class or in the washroom to keep studying patterns. Learning to understand and strategize is also a progressive way of thinking when you are still learning to master risk management. It’s great to see a new trader get involved in the community and share his thought pattern in he’s upcoming DVD.
Love the podcast gents. lots of my own questions answered thanks Tim and Steve, your an inspiration i look forward to the DVD. I myself am taking my time learning before i start trading and have been planning out my own spreadsheets so it was great to hear how its worked for you.
Thanks again. Looking forward to the next podcast.
Thanks for the continued inspiration. I started day trading watching interview between Dux and Tim. I’m trying to learn everyday putting in 2 hrs a day while working full time on the east coast. Life would be easier if I lived in the west coast and can trade before work
Thanks Justine!
It’s important to get out of the FOMO mindset. I like how you said don’t compare someone’s Chapter 10 to your Chapter 2, or something along those lines. It’s STEADY and gradual, not overnight. Thanks for the constant reminders Tim and Jonk, you’re hilarious.
Tim, will you use the Jonk pillow case as target practice?
Another great podcast with Steven Dux, he is a genious. I would love to know how he builds or set up his spreadsheets. Also, I would take one of those Duxinators 😉 Thank you guys.
With prizes coming out next week, we must be closing in on the end of Season 2. I hope it won’t be too long before the release of another season. I feel like I learn so much from these podcasts.
Thank you so much for doing these!
Another excellent podcast! Thank you. Steven is such a humble young man that has been gifted with a brain that will change the world of trading over the next upcoming decades. I plan to listen and follow him. I’m not sure who came up with Duxinator (sp?), its a great name. I’m receiving a lot of value in these pod casts. Keep up the good work guys, you always make me laugh. I choked on what I was drinking when Brit Steven said he thought Fortran was the name of a foreign beer.
Haha, I forgot about the Fortran gag 🙂
Really appreciated that Podcast guys. I learned a lot from this one. A key take away for me, once you think you have a strategy, go back and gather 100 samples and check the strategy performance. Then gather 300-400 and further analyze.
On a lighter note, I like the humor you both had during your exchanges. It was funny “Duxanator”, Go to the Bahamas and live it up, etc.
Since it has been some time since you had the interview, have you had a chance to watch the materials? What did you guys think?
Thanks Ocean! I have not had time to check out Dux’s DVD yet, but I do plan on it in the future.
Hey Tim Bohen I am just curious. Do you know how Steven Dux sets up his spreadsheets? I don’t understand how he has so many.