Small Risk, Big Reward with Trading Room Moderator, Kira Turner, Ep # 132
09/29/22 • 34 min
Kira Turner is a full-time, professional trader of stocks and options. She is the Moderator at The Inner Circle Trading Group, a group of experienced traders helping each other to make great trades. In this episode of How To Trade It, Kira shares the importance of being flexible enough to remain profitable in difficult market conditions. 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...
- [02:09] Changes after trading went “online”
- [06:36] Risk management
- [08:31] Success in the markets requires...
- [11:26] Big challenges
- [12:42} Time for a new strategy
- [14:48] Realistic expectations
- [17:47] Trading during a down cycle
- [20:10] Recovering after a loss
- [25:55] An affinity for “high risk” activities
- [31:04] Get in touch with Kira
Episode Sponsor:
A new type of trading with Kalshi. Check it out to get started today.
Trading online
When Kira first started trading, she had to sit across the desk from a broker who took trades on her behalf. When online trading became all the rage, trading changed drastically. All of a sudden, there were so many more traders with sophisticated thought processes and strategies. The moves in the market became faster and much more violent. Where you used to trade in quarters, you now trade in pennies. And the changes keep coming, which is perhaps the reason Kira describes her trading style as “flexible”. She has admittedly had to completely adjust her methods multiple times, based on the market’s ever-changing conditions.
Success in the markets
Kira believes that in order to have success in the markets you must first have confidence in your system. You have to understand sizing. And, most importantly, you must also exercise great risk control. It’s critical for long-term success to learn to size correctly and manage your risk well, so that if you are wrong on a trade, you are able to take the loss and move on. No one is right all the time, so you must prepare for those times in advance.
Trading in a down cycle
The market has been very challenging this year, but you can still trade well in a down cycle, according to Kira Turner. Last year, the market just kept going up and up and up. If you had a bad trade or two, you could save yourself by simply buying more and holding on for the ride. In 2022, we haven’t been so lucky. Kira has stopped holding as many positions, has reverted to more day trading, and is being more discriminate about which trades she’s willing to short. The crazy runs of 2021 were fun while they lasted, but 2022 has taught Kira to cut her losses quickly. It’s been her ability to b
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.
Get your Roadmap: https://www.findbettertrades.com/replace-income
https://caseystubbs.substack.com
https://x.com/caseystubbs
https://www.youtube.com/@FreedomIncomeOptions
https://www.linkedin.com/in/caseystubbs/
Kira Turner is a full-time, professional trader of stocks and options. She is the Moderator at The Inner Circle Trading Group, a group of experienced traders helping each other to make great trades. In this episode of How To Trade It, Kira shares the importance of being flexible enough to remain profitable in difficult market conditions. 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...
- [02:09] Changes after trading went “online”
- [06:36] Risk management
- [08:31] Success in the markets requires...
- [11:26] Big challenges
- [12:42} Time for a new strategy
- [14:48] Realistic expectations
- [17:47] Trading during a down cycle
- [20:10] Recovering after a loss
- [25:55] An affinity for “high risk” activities
- [31:04] Get in touch with Kira
Episode Sponsor:
A new type of trading with Kalshi. Check it out to get started today.
Trading online
When Kira first started trading, she had to sit across the desk from a broker who took trades on her behalf. When online trading became all the rage, trading changed drastically. All of a sudden, there were so many more traders with sophisticated thought processes and strategies. The moves in the market became faster and much more violent. Where you used to trade in quarters, you now trade in pennies. And the changes keep coming, which is perhaps the reason Kira describes her trading style as “flexible”. She has admittedly had to completely adjust her methods multiple times, based on the market’s ever-changing conditions.
Success in the markets
Kira believes that in order to have success in the markets you must first have confidence in your system. You have to understand sizing. And, most importantly, you must also exercise great risk control. It’s critical for long-term success to learn to size correctly and manage your risk well, so that if you are wrong on a trade, you are able to take the loss and move on. No one is right all the time, so you must prepare for those times in advance.
Trading in a down cycle
The market has been very challenging this year, but you can still trade well in a down cycle, according to Kira Turner. Last year, the market just kept going up and up and up. If you had a bad trade or two, you could save yourself by simply buying more and holding on for the ride. In 2022, we haven’t been so lucky. Kira has stopped holding as many positions, has reverted to more day trading, and is being more discriminate about which trades she’s willing to short. The crazy runs of 2021 were fun while they lasted, but 2022 has taught Kira to cut her losses quickly. It’s been her ability to b
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.
Get your Roadmap: https://www.findbettertrades.com/replace-income
https://caseystubbs.substack.com
https://x.com/caseystubbs
https://www.youtube.com/@FreedomIncomeOptions
https://www.linkedin.com/in/caseystubbs/
Previous Episode
The Fast Way to Make Money with Mark Yegge, Ep # 131
Mark Yegge, the Wealth Architect, is a lifelong learner, author, course-creator, mentor, and fund manager. He’s the founder of Destiny Creation LLC, and he’s traded over $14-billion worth of securities. Using his experience and expertise, Mark is on a mission to change the way we invest. In this episode of How To Trade It, Mark talks about taking the small wins over and over again. 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...
- [00:42] Lessons from a Taxi driver
- [12:46] The 4 Cornerstones
- [15:28] The secret is...
- [22:10] The future of Bitcoin
- [26:43] Supply & Demand
- [32:46] Special offer for How To Trade It listeners
Fast is Slow & Slow is Fast
Most people just want the quick win; the fast and big money. The better option, however, is to take small wins, over and over. So while that may seem like the S-L-O-W approach, in the long run, it’s actually a faster way to increase your wealth. You reduce the risk of losing large sums of money, while having a consistent income that will continue to grow over time.
The enemy
Emotions are the enemy of the trader. When emotions go up, intelligence goes down. Go ahead and tell me I’m wrong. At Destiny Creation, we try to teach people how to get rid of or control their emotions, so they can trade from a quiet and still place. This happens by having a trusted system in place and well-defined processes to follow. No system is perfect, but if you follow our approach and the rules, we can teach you how to consistently make 2-4% each month.
Crypto...Bitcoin?
Mark believes that cryptocurrency, specifically Bitcoin, is the future. It may not replace the dollar, but it’s probably good to have as part of your asset allocation, as it is probably the only truly decentralized crypto. It’s never been hacked, and it’s a great option, if you want something that is going to hold its value.
Resources & People Mentioned
- Jesse Livermore
- William O’Neil
- Edward O. Thorp - Beat The Market
- The Cash Flow Machine
- FREE eBook - Regular Paychecks (f
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.
Get your Roadmap: https://www.findbettertrades.com/replace-income
https://caseystubbs.substack.com
https://x.com/caseystubbs
https://www.youtube.com/@FreedomIncomeOptions
https://www.linkedin.com/in/caseystubbs/
Next Episode
How to Create a High Performance Trading Process
Learn 5 Tips to become a Great Scalper
https://info.tradingstrategyguides.com/5-hacks-for-scalping-webinar?utm_campaign=podcast
Episode Sponsor:
A new type of trading with Kalshi. Check it out to get started today.
Today’s lesson is all about being a high performance trader.
If we want to operate in a high performance mode, we must have a checklist.
It is much better to become a high-performance trader than an average trader. If we think of a high performance vehicle, everything in that vehicle that people pay attention to performance. Every single part needs to be working together to get maximum performance.
Here is my daily checklist.
- [02:09]Mind and Body
- [06:36] Prayer and Meditation
- [08:31] Mindset
- [11:26]Beliefs
- [12:42} Vision
- [14:48] Gratitude
- [17:47] Emotions
- [20:10] Execution
- [25:55]Thank you
1. Reading and Writing
2. Prayer
3. Hydration and Nutrition
4. Mindset
a. Gratitude
b. Beliefs
c. Vision
d. Emotions
5. Daily Trade Plan
a. Daily bias
b. Entry points
c. Exit points
d. Risk Management
6. Execution–If we plan execution is the easy part.
7. Review each day.
Connect With Casey Stubbs
- Website: https://caseystubbs.com
- YouTube: https://www.youtube.com/TradingStrategyGuides
- YouTube: https://www.youtube.com/caseystubbs
- Twitter: https://www.twitter.com/caseystubbs
- Facebook: https://www.facebook.com/TradingStrategyGuides
- LinkedIn: https://linkedin.com/in/caseystubbs
Subscribe to How To Trade It
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.
Get your Roadmap: https://www.findbettertrades.com/replace-income
https://caseystubbs.substack.com
https://x.com/caseystubbs
https://www.youtube.com/@FreedomIncomeOptions
https://www.linkedin.com/in/caseystubbs/
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