Beginner Trader Amanda Interviews Kendra & Becky!
Amanda discovered our Market Mamas podcast on YouTube one day and opened a conversation with us by asking some really great, in-depth questions! She was actually the driving force behind out beginner questions answered episode that came out on June 11, 2024 (you can watch that episode here: https://youtu.be/YfT_57bt6No?si=fiKQjsMnGAUustqu). After a private chat with Amanda, we knew that her curious, excited mind was such a great basis for an even deeper, valuable conversation that we could bring to a wider audience.
Amanda then graciously agreed to come on our podcast officially and ask any questions she wanted from Kendra and Becky. The conversation really pulled some great discussion out of the ladies regarding the early weeks to months to years in trading and what new traders can realistically expect during that time. Because Amanda had such excellent questions, this conversation will be broken up into two parts and both episode links will be on this page when they are released live.
In the first portion of this conversation, we talk all about early time lines for growth in trading, the purpose of and ideal ways to utilize trading in sim, and personally how both Becky and Kendra used trading in sim/ paper money when they were young traders. Hearing about the variations of early traders and their approach to this world helps to provide perspective and normalizes the complexities of that time in any trader’s journey.
Amanda also asks the mamas about how they overcame early hurdles in trading to become more resilient and confident traders. Her question about transitioning in our minds from aspiring traders to actually calling ourselves day traders was particularly powerful. We didn’t just talk about the challenges though. We also got into what we love about trading and why Kendra and Becky continue to get back up again after every hard loss/lesson day. These actively evolving experiences of perseverance and grit are so authentic and honest. So, if you are an beginner or messy middle trader, you definitely want to catch all of this discussion so you can get a better and genuine understanding of the phase of an early, and not yet consistently profitable trader.
Talking trading with people who understand and love the journey as well is really a privilege, even when they are very new to this game, as Amanda is. Join the conversation with us!!
In part 2 of our discussion, newbie trader Amanda continues to ask questions to prepare for her journey ahead. In this half, we delve into the struggle with only executing when you see your key setups and waiting to only swing at the best pitches. But this is a skill that takes time to develop, so we encourage all traders to give yourselves grace with this early period of growth and education at the school of hard knocks!
Both mamas talk about what, in hindsight, we might have done differently in our first months of trading, as well as what we wish for all new traders to know. This includes, for Becky, the eruption of trader funding company availability. This has been a beneficial development for early and middle traders to help mitigate our financial impact during the early years of trading - this is a major opportunity for early traders.
Neither Becky or Kendra were raised with a strong understanding of the financial markets or trading. There was a steep learning curve into this world with a lot to learn for both mamas. But this all can be learned with online resources and mentors, if you have to have dedication and grit to persevere through it. Why not us!
Most importantly, Kendra & Becky discuss how to best handle the inevitable trauma that comes when learning to trade and how we purposefully act so as to not be swallowed whole by the hard days. In this raw and real discussion, you can really get to know Becky & Kendra better through their journey thus far as traders and what lessons has served them the most.
Another important topic in this episode is the early expenses in trading, that are most significant in terms of trading tuition by way of trade losses. Of courses there’s also the fees from executing your trades within your platform and potentially membership fees with a mentor and/or community. And we have to mention the opportunity losses when you are still timid with trading early in your career that are also a loss. As you grow as a trader, you want to be able to grow your trades and really capitalize on opportunities as your skills evolve. This will take time and experience to figure out.
These topics and so much more are discussed in detail in this conversation. We want to sincerely thank our beginner trader friend Amanda for coming on with us and asking such impactful questions. It really created a space for us to review our trading journeys up to this point and extract some really good tips and tricks for other early traders to utilize and reference. We hope you all enjoy this two part compilation!