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What Traders Need to Know About Trading Meme Stocks - YouTube
Channel: StocksToTrade
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so maybe you've heard about meme stocks
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and if you haven't
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this is either your first very very
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first day
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in the markets or you've been living
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under a rock
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today we're going to talk about meme
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stocks and why you should care and why
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it's going to be the theme
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for quite some time
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[Music]
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hey everyone lee train with stocks of
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trade tim bowen here be sure to like
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subscribe and share these videos with
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your friends um you know i talk about
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the democratization of trading
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so much i mean listen trading's been
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opening up
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opening up opening up getting more and
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more accessible
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to joe and jane everyday trader for the
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last couple years but
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now with this democratization this you
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know open access to information
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a super computer in your pocket
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commission free trading
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there's never been a better time to get
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into trading so ring that bell
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to be notified every time we go live
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every time we drop a podcast
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we're putting out a bunch of great
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information here and if you're really
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ready to take your trading the next
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level
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check out the steady trade team i do
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twice daily webinars
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every single trading day there is so
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much going on right now i tell you
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the biggest issue the it's funny how
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things have flipped because it used to
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be
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as a new trader one of your biggest
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impediments to success was lack of
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information
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it's the opposite now there is so much
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going on so much information out there
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it's coming at you
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from everywhere heck your grandma's
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probably talking to you about stocks
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right now okay
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steady trade team we filter it all down
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twice daily live webinars and focus on
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what really matters check out the steady
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trade team
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look forward to working with you all
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right so meme
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stocks uh you know diamond hands
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together apes are strong to the moon you
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know
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all these memes and things you've been
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seeing number one
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it's awesome i love it because uh
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you know you maybe if you listen to the
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podcast you know since i was a kid
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i've always been yeah i've called myself
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a stock market dork
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and when you're a dork when you're a
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nerd by the way i consider dork and nerd
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compliments i don't consider those
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derogatory terms if you're a
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wine nerd if you're a coffee nerd if
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you're a
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cigar nerd or a stock market nerd i
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consider that a compliment it just means
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you really love something and you love
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getting into all intricate details of it
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but that being said the memes are just
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amazing
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and it's so it makes trading so much
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more fun
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and now let's talk about how you really
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apply this okay how do you make some
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money with this
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that's why you're here you're trying to
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make some money you're trying to grow
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your account
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supplement your income pay for a
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vacation whatever
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well as much as i love the meme stocks
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and the whole you know diamond hands and
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hold the line and all this stuff
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what this is creating is so much
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opportunity for you if you
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are that nerd or that dork that
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really wants to learn this stuff okay
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and
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that's one of the things i talk about a
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lot that listen i don't think you should
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be
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actively day trading unless you're
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in love unless you're obsessed i mean
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i'm obsessed if you follow the channel i
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mean
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every morning every single morning i
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show up here
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rant and rave you know go nuts about the
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action of the day
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i think you can tell my passion if you
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listen to the podcast
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um you know the steady trade podcast
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like the number one complaint for the
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steady trade podcast is
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tim never shuts up i just love talking
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stocks i
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love this stuff and if you're that nerd
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and you're
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into this stuff there's so many more
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uninformed investors people that aren't
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putting in the time
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people that aren't tracking their trades
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they're not doing the spreadsheets at
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night
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you know they're just the yolo people
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and
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i'm not here to pass a moral judgment
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you know listen if
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young people want to throw some money at
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the market i'm not going to
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yell at him i mean listen when i was 18
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19 20
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the stuff i wasted money on you know
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putting
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a thousand dollar stereo in a car that
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was worth 500 bucks
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you know it's like listen i made plenty
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of
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bad decisions from 18 to 20 to 22 to 25
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you know
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and here's the thing if you do yolo
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maybe you'll learn from it at least
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but you're not a yolo peep you're you're
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actually watching
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youtube videos you want to learn you
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want to get better so the point is
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study take advantage of this youtube
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channel take advantage of the podcast
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check out the stocks of trade blog uh
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you know listen
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there's a bunch of videos on our channel
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where i review books recommend
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books there's so much information out
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there and if you can be
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diligent and focused there's never been
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more dumb money out there
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and the dump the more dumb money there
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is
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the more the edge to the people that
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take it serious
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and listen gme amazing going from four
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dollars
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to you know 400 in the matter of um
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you know a few months and i mean really
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vertically went from 20
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to 4 almost 500 in the matter of a week
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but we all know what most of them are
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gonna do none of them have a plan
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none of them have a stop and they might
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have bought it
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200 300 heck they might have bought it
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50 i mean
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and sitting on a huge unrealized gain so
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think about that
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that person that doesn't have that trade
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plan and they bought it
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at 50 and here they are up 200 a share
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maybe they got like 10 shares you know
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they got they bought 10 shares at 50 a
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500
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position here they are you know sitting
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at at
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2 500 a 2 000 gain
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on a 500 position and they're not
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selling you know because they
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they believe the memes they believe that
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gamestop has long term
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potential they think it's going to ten
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thousand you know
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now listen anything can happen in this
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market
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but the biggest point i want to talk
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about is we always talk about
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that three to one risk to reward having
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realistic goals
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and here's the thing let's say you are
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and i'm not saying anybody
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bought you know 10 well somebody
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probably did but if you bought 10 shares
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at 50 and here you are sitting
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with a 400 percent gain 500 percent gain
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you take that gains you book it and then
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here's the thing
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if gme let's say who knows by the time
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this video comes out
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usually there's a weak lag until the
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video gets published
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you know if it breaks out at 500 we buy
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you can always trade in and out of these
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things
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that's the beauty of liquid stocks like
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this thing i mean i mean trading
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hundreds of millions of shares you can
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get in and out
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plenty of liquidity anytime you want so
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there's
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no reason to become
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that true believer or that bag holder or
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that trader with no plan
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and if you simply have
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a goal and a stop okay
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i know a lot of you are probably taking
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this seriously that's why you're on the
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channel
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you'd be amazed how many people they
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enter a trade
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and it's like what's your stop that i
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don't know you know
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uh i'll stop if it goes against me
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what's that mean
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and then well when are you selling
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what's your goal well
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you know i'll sell when it spikes you
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know and
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those vague you know so because the
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reason they're vague
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i mean it's some quarter it's probably
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some sort of psychological thing that
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gives them that ability
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to enter you know to stay in a trade
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when the when it
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when it doesn't go their way or when it
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does go their way and then it allows
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them to basically
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weasel out something that i've taught
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forever
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write it down on an index card and i
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mean i know most of us are on laptops
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now but
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back in when i would when i was getting
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started trading you know i had a desktop
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so i had the function keys on the top of
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my keyboard i would enter
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or write down my entry my goal and my
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stop and i would stick it
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in that function key row of my keyboard
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and it was staring me in the face so
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that when my stop started slipping
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that index card is telling me you're an
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idiot you're not sticking to your
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discipline you're not
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actually trading you're just hoping
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you're hoping it goes up
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you're hoping if it goes against you it
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bounces hope and hope and hoping
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you know whether it's in your favor or
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not in your favor and hope
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is not a strategy okay that is not a
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strategy
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a strategy is buying gme at 250
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selling or buying it at 50 selling it at
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150
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selling it at 200 not holding up to 480
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and then let it come all the way back to
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50 or 40 or 30 or 20 or all the way back
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to five bucks where it started so have a
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trade plan
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stick to it build good
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habits okay telling you if you've ever
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tried to
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get in shape or lose weight that
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momentum
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builds day one you know you exercise and
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maybe you miss a day
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then you hit it then you do two days in
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a row then you do three days in a row
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then you start eating better then you
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start drinking your water and that
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momentum builds
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and all of a sudden you look back and
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you're 20 pounds lighter
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or your cardio is 10 times better or
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your bench is that much higher
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or whatever your goal is consistent
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daily good habits taking this seriously
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again i love the memes nobody
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loves the memes more than i do but i
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take this seriously it's
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real money it's real trading things can
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go bad fast
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just as bad as they are just as quickly
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as they can go good
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all right everyone love the memes give
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me a comment below what's your favorite
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one
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um i do kind of like the uh many apes
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or apes strong together it's one of my
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favorite ones but
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anyway have a great day everyone check
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out the steady trade team
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be serious this is gonna be the greatest
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year ever of trading
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and heck at this point when you look at
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the way i mean wall street bets has
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added like six
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million people this week i've done
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so many videos saying a year ago i was
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doing videos
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saying everyone's a trader everyone's a
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trader
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today so much opportunity and if you get
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that education and you build those
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habits
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i i don't think there's ever been a
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better time
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to to be in that 10 percent to succeed
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because of the fact that you can study
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and there's just so much more dumb money
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out there
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so all right everyone check out the
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steady trade team and i look for
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