How To Trade It: Trader Insight from Profitable Traders
Business:Investing
Tom “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!
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You’ll want to hear this episode if you are interested in…
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 l
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.
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Connect with Casey:
Hit & Run Candlesticks with Rick Saddler, Ep #102
How To Handle Your Emotions So You Can Make Money with Casey Stubbs, Ep #101
How to Scale Your Trading Account in Six Simple Steps with Casey Stubbs, Ep #100
The Power of NO in Trading with Casey Stubbs, Ep #99
Teenage Whiz Kid Manages Mom's Fortune with Jake Wujastyk, Ep #98
Studying the US Investing Champion, Mark Minervini, Ep #97
Long-term Shiba Inu Investing Strategy, Ep #96
Risk-On, Risk-Off with Michael A Gayed, Ep #95
My 2022 Trading Plan
Meet The Calm Cash Team, Ep #93
In The Money Stocks with Gareth Soloway, Ep #92
(Re-Air) Dr. Barry Burns Reveals His Futures Trading Strategy, Ep #91
Market Wizards with Jack Schwager, Ep #90
(Re-Air) Adventures in Trading & Travel with Teri Ijeoma, Ep #89
Million Dollar Journey with Casey Stubbs, Ep #88
Trading Made Simple with Louise Bedford, Ep # 87
My Biggest Mistakes & The Victories They Led Me To, Ep #86
Take Your Money & Go Home with Rosetta Bryson, Ep #85
Striving for EXCELLENCE with Anthony Patrick, Ep #84
Stress-Free, Passive Trading with Allen Sama, Ep # 83
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