This is episode 61 of the Steady Trade podcast with your host, Tim Bowen.

I don't think there was news. I just think it was, and if there was news, it wasn't great.

Stephen Johnson. Are you a news guy? Are you a total just the first five minutes guy?

And special guest host, Roland Wolfe.

Like I said, I know I personally know many people who are just bleeding their accounts out right now trying to trade garbage.

Now Roland turned $4,000 into $500,000 in 2017 using these techniques.

He's been a guest on steady trade before.

And once again, he's back for more helping Tim and Stephen get through part 11 of Tim Sykes, 14-part trader checklist series.

This is also kind of part two of episode 60, so we're going to pick up where we left off in episode 60. Let's jump right in.

For me, I don't want to be sitting, holding, waiting. You know, never. And particularly if,

if you have a smaller account, that is the worst place to be, is in bag holding of any sort.

That capital should be elsewhere. You know, that capital is what you need to trade with. So if you have capital tied to, say, 50% of your account are more tied up in a stock. That's literally you're just sitting waiting for news or PR. You're, you know, dead in the water. So, I mean, that's not, that's what I try to avoid at all costs. And I think everyone should. Yeah. And I think that something that is not always discussed. I mean,

Roland makes a great point. Your capital being tied up. You can't trade anything else because

you have no buying power. But also, and I don't want to say as big, but almost as big, is that

mental capital. We've all been there. I mean, it sucks bag holding. I mean, you get up every day

and you're like, oh, God, give me the PR if you're, you know, if you're long. Or if you're short,

oh, give me the hit piece. You know, where's the hit piece? Please, you know, where's the bad news?

Right. And it just grinds you down. your capital's tied up but then you're just like

hating life and you're just you know you just want to be that that meme where the guy throws all the

papers and then you leave and it's funny because any bag hold i'd i've had i think i maybe had a couple

successful where eventually you know if PR came out,

I got out break-even or whatever it is. But for the most part, any other baghold I've had,

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