How To Trade It: Trader Insight from Profitable Traders
Casey Stubbs
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Trading Growth Stocks with Tom Canfield, Ep #119
• 48 minTom “Canny” Canfield worked on Wall Street for two years, before starting a chain of restaurants. Ultimately, Canny began trading stocks in 1997, as he wound down the restaurant business, and went full-time by 1999, because of the freedom it provided to be at home with his wife and four kids. Trading is an expression of love for his family and has allowed him to be actively involved in his kids’ lives. Coaching, teaching, and encouraging, is very much in his blood…from hockey with his children to trading today. Tom is now free to enjoy life on his own terms. In this episode of How To Trade It, Tom and Casey discuss the joys and pains of trading. You don’t want to miss it! Subscribe to How To Trade It You’ll want to hear this episode if you are interested in… [06:12] A strategy for this current market[08:59] How Tom enters a trade[13:22] Knowing when NOT to trade[23:45] Rebounding from a catastrophic loss[29:29] Facing your demons[35:29] The one year heart attack anniversary!Strategy for this current market According to Tom, there’s a whole lot of nothing right now. Short trading is pretty stressful for him. He tends to be more of a long-term trader who looks for growth stocks that are gaining ground quickly and are in an uptrend. So, when market conditions are under the 200 moving average, Tom tends to trade very short-term…one, two, maybe three days, at most. There are still lots of small wins you can capture, but it’s the money he makes on those long-term trades that sustain him during these leaner times. Knowing when NOT to trade Tom likes to take a break…or rest…from trading. He believes it’s healthy for our progress to take weeks, even months, where we don’t take a trade at all. “It’s absolutely essential to your mental health”, he chimes. Rebounding from a catastrophic loss In late January 2018, Tom tragically suffered a devastating $500,000 loss in a ma Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets. Talking Trading - Expert trading and investing tactics so you can excel in the markets.Your key to getting the results you deserve.Listen on: Apple Podcasts Support the show Connect with Casey: Website: https://caseystubbs.com YouTube: https://www.youtube.com/TradingStrategyGuides YouTube: https://www.youtube.com/caseystubbs Facebook: https://www.facebook.com/TradingStrategy LinkedIn: https://www.linkedin.com/in/caseystubbs Twitter: https://twitter.com/caseystubbs TradingStrategyGuides.com: https://www.tradingstrategyguides.com/ Global Prop Trader: https://globalproptrader.com/ Email: podcast@tradingstrategyguides.com
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