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 able to be flexible enough to remain profitable in difficult market conditions. You don’t want to miss it! The market has been very challenging this year, but you can still trade well in a down cycle, according to @KirasEpicTrades..Join us on this episode of How To Trade It to find out more! #Stocks #Options #Equities #InnerCircle #T3Live Click To Tweet

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You’ll want to hear this episode, if you are interested in…

  • [00:36] How Kira got started
  • [02:09] Changes after trading went “online”
  • [04:48] Trading strategies
  • [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
  • [23:59] Differences in trading between men and women
  • [25:55] An affinity for “high risk” activities
  • [31:04] Get in touch with Kira

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 be flexible and adjust to the changing market that has kept her not just afloat, but profitable, in the midst of these difficult market conditions.  

Resources & People Mentioned

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Disclaimer: Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment. Therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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