Working Through the Shoddy Markets

by | Jan 18, 2022 | Market Lessons

Key Takeaways

  • When to switch things up…
  • The key to trading in this market climate…
  • And where to focus NOW…

Hey, all. Bryce here!

We’ve said it before and we’ll say it again: The market hasn’t been doling out many exciting opportunities lately. 

Matt slowed down his trading in December and has continued to scale back in January. I’ve slowed down too, and gotten a lot pickier with what I trade…

There are opportunities — you just might have to go against what you’re used to trading. 

So how can you manage through this shoddy market? Let’s dive into it!

Switching Up Your Trading Style

I know … Getting out of your comfort zone can be scary. But it can also be a huge factor in your growth as a trader.

One of the ways I’ve switched up my trading style lately is by taking short positions.

I’d rather go long, but there haven’t been as many opportunities to do that. 

Since many stocks and sectors are in a downtrend, it’s easier to identify strong setups to the downside. But even then, longs will come back through to prop the stock up — forcing you to be quick and scalpy.

Stocks that have run up too much have also made for good short plays. With the market being so shaky, who’s coming in to prop up a stock that has already run up so far?

Ultimately, the lack of volume is making things difficult. But times like these are great for trying new things and learning lessons along the way.

There are trades to make. You just might have to attack trades from a different angle than usual. 

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If you’ve been thinking of trying something new, now could be the time to take action. You can always paper trade first. Above all else, stay safe. 

A Word of Warning…

Putting yourself into a trade that you can’t easily get out of is ROUGH for the mentals…

In this environment, you must become much pickier about what you trade. Otherwise, you’re probably setting yourself up for failure. 

Why put this mental strain on yourself if you don’t have to?

Forcing trades does nobody good. You don’t have to trade 10 times a day — or even a week — just because you were a few months ago. 

We all want to trade. But dragging your mind through the mud for mediocre setups is an easy way to burn out.

Trading doesn’t have to be difficult. The mental toll you put on yourself by forcing trades isn’t worth it, even if you come out profitable.

Save your mental capital for the hot markets. Focus on studying and journaling if there isn’t a setup you absolutely love.

Conclusion

While the markets limp along, make life easier on yourself…

Learn how to short. Try to identify new patterns that may work more than the traditional ones. 

There’s nothing wrong with sitting on your hands some days. Just make sure you’re not wasting the extra time.

Every market can benefit traders, whether financially or educationally. 

Right now, there are traders THRIVING because they prepared during the last slow market…

What’s stopping you from being that trader during the next one?

Lift off,

Bryce Tuohey

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