Stansberry Investor Hour

In this week's Stansberry Investor Hour, Dan welcomes Steve Burns to the show. Steve is the founder of New Trader U, a blog with thousands of articles plus online courses.   Steve kicks things off by explaining how trading is math, detailing how its different components are formulaic. He says that understanding the "math" of expectancy for your returns can help you with managing your discipline, and knowing the risk-to-reward ratio for any trade is the first important step that every investor needs to take before they enter a trade. Steve notes that despite what many folks might believe, being right 50% of the time is pretty good. But even performing that well requires understanding the risks that your trades have. (0:00)   Next, Steve reflects on his early trading days, comparing his methodology and results then with his current strategies. Then he details one metric that determines profitability. It's the most important thing you need to be mindful of that will impact the profits your trades bring in, re