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Why You Need To Listen To The Steady Trade Podcast

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Written by Timothy Sykes
Updated 1/12/2023 6 min read
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Why You Need to Listen to the Steady Trade Podcast

The Steady Trade podcast is a new tool to add to your arsenal. You need to listen to the Steady Trade Podcast! This new podcast is unlike any other resource about day trading. The podcast just wrapped up its first season and already boasts hundreds of rave reviews from its fast-growing audience and, more importantly, OFFICIALLY LAUNCHES SEASON TWO TOMORROW so get ready!

If you read this blog often, you know that I’m constantly urging students of the Tim Sykes Millionaire Challenge team to expand their horizons by learning all they can about trading and the world, and from a variety of sources. The Steady Trade Podcast is the most exciting new educational trading resource in quite some time. Here are some of the reasons why you need to listen to it:

1. It’s a little different. There are plenty of trading podcasts out there. Particularly as a new trader, though, it’s hard to find podcasts that are appropriate for you. Many podcasts either focus on trading details that you don’t yet understand or focus on the basics in an overly factual way.

The Steady Trade Podcast is a little different. It truly is designed to enable and empower the brand new day trader without overloading you with unnecessary information.

2. Differing points of view: Unlike other podcasts, Steady Trade offers a broad series of points of view. The hosts of the podcast are Tim Bohen and Stephen Johnson. Tim Bohen may be (and should be) a familiar name to you: he’s the day trader who is also responsible for founding Stocks to Trade and its Pro division. With years of trading under his belt, he’s identified as the “salty veteran trader” in the podcast.

Stephen Johnson, on the other hand, is a new trader, with only about a year of trading experience. While he’s a smart guy, he is relatively green as a trader. He’s been documenting his experience on YouTube, and is learning as he goes. While he definitely doesn’t have the same experience as Tim Bohen, he brings a fresh perspective to things. He also comes from a point of view that is thoroughly relatable to new traders and asks the questions that have probably been burning in the forefront of your mind! Perhaps most importantly, Stephen has FINALLY just become a profitable trader after roughly a year of losses, so his turning the corner has been huge for him and listeners alike!

3. Amusing banter: Did the above description kind of paint Tim and Stephen as The Odd Couple? Actually, that’s not too far off. The different points of their careers, different ages, and different cultures of the hosts clash at times, but always in an amiable and amusing way. Put together, Tim and Stephen are funny and engaging. This provides a great juxtaposition to the incredible information that they offer in the podcast–who says an education always has to be so stone cold serious?

4. A basic yet thorough education. The Steady Trade Podcast really starts from ground zero and builds up. Literally, in the first episode they address a topic that most wouldn’t but actually few understand: what is day trading? They take the time to thoroughly explain the basics and build upon them so that by the end of each episode, you really feel as if you’ve learned a lesson that you can grasp.

5. A variety of sources: In the Steady Trade Podcast, Tim and Stephen offer plenty of anecdotal information and stories about their own experiences. However, they don’t merely share their own experiences. They draw from a number of different sources to present well-rounded lessons about trading. In one of the episodes, they incorporate an interview of mine, with Larry King, from a few years ago. Even though I was literally there for the interview, the way that it is presented in the episode makes it new even for me. Looking at information from different angles and from a number of different sources is important to becoming a good trader, and the podcast does a great job of presenting it.

6. Progressive learning. As the season progresses, each episode builds on the last. So, by the time you reach the later episodes of the season, there are actually some pretty advanced trading techniques which are taught. However, since the progression is so gradual, the lessons remain easy to understand and grasp, even to the trading newbie. This is super important, because trading can be extremely intimidating when you face all of the things you need to consider and do on a daily basis.

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The Steady Trade Podcast does a great job of breaking down an incredible amount of information into easy to digest episodes.

7. It’s empowering. One of the best things about the Steady Trade Podcast is that it’s empowering. If you’re considering whether or not to become a trader, this podcast will likely help you make that decision.

Once again, this is largely due to the different points of view. On the one side, you have Tim coming from a place of experience and telling you “yes, you can do this”. And on the other side of the coin, you see the younger trader Stephen learning things, sometimes the hard way. It helps listeners feel like yes, they can do it too.

8. Actionable steps. Not only is the Steady Trade Podcast easy to understand and inspiring, but it also helps inspire you to take action. In the episodes, Tim and Stephen reveal specific things you should be doing to get started as a trader. They also offer tips for refining your trading techniques. Each episode closes with specific actionable steps you can take to improve your trading and further your career…the kind of information that has REALLY helped my trading challenge students over the years!

9. Great giveaway. The Steady Trade Podcast offered an incredible giveaway during the first season, including (among other things) a laptop, Bose headphones, and (yes) an incredibly large box of Tic-Tacs. Out of more than 3,000 entries, 11 winners were chosen. The season one giveaway has come to a close, but the second season is coming TOMORROW, on November 6th and there will be an all new giveaway!

Hopefully you’re sold on the Steady Trade Podcast after reading this. I truly believe that this is a great podcast that will help advance your career in trading. Take the time to listen to the first season now, and get ready for the second season, coming November 6th!

Have you listened to the Steady Trade Podcast? Leave a comment with your feedback, I’d love to know what you think! 

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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”