Why Trading Journals Are Just As Important As Trading Profits

Posted by timothysykes on Tue 13th of May, 2008 04:49:55 PM

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Just got an email from a very satisfied PennyStocking DVD student who’s not only made the DVD’s cost back 13x times over in only a few weeks, but also done something rather interesting and I encourage you all to do the same:

Tim, just wanted to tell you that within 3 weeks of watching your DVD, twice, my $25,000 account is already up to $28,946, thanks to shorting those perfect Supernovas, VRML and VM, on which I see I did better than you! (sorry!)

I just started a public journal on ET so I’d love for your readers to come check out my thread! I know you’ve sworn to never post on ET (and after a few weeks I can see why) but I’m going to be diligent in my record keeping and hopefully help you cut through the BS that’s out there. Thank you again for everything, your speedy email replies (although not lately?1?!?) have helped immensely and I can’t imagine trading anything other than Supernovas ever again!

Sincerely,

Jeff Rogers

Now I’m all for journal keeping to help teach trading lessons (aka this blog), but instead of going to ET, I encourage you guys to post your journals HERE. Not only will I be able to reply/critique your trades, and you’ll receive TIMbucks for posting (we just signed on an Apple supplier today…full list of prizes will be unveiled next week!), but I promise you won’t have to deal with the crap that ET is known for. Just look at poor Jeff’s thread and you can see only about 2 useful posts other than his own. The rest are spent attacking me and my strategy, even though none are fact-based as they’re ore a critique of what they’ve seen of me on TV. Remember 90% of traders lose $ and they basically all congregate on ET to console each other by pretending to be making money—don’t be one of them!

PS You people making mad money off PennyStocking, please get a Flip video or something and make some video testimonials, I’ll promote them like no other!

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Related Reading

Important Message To All The Newbie Traders Here June 25, 2008
Who Said PennyStocking Works Only For Idiots & Poor People? August 30, 2008
Another PennyStocking/TIMalert Testimonial: Michael Goode & His $40,000 In Profits Since June October 1, 2008

folding

Very cool. I ordered the DVD one week ago, how long does it usually take to arrive? I am really looking forward to it.

timothysykes

u shoulda gotten it by now, i'll check on the tracking number and email u

YngvaiMalmsteve

I agree that we should posting our experiences on the forums. There won't be all the ET crap, and it will help all of us in our mutual goals.

By the way, I just posted there about some potential beginning breakouts...might be potential buys

Jibri

Scottrade is ok but the $5 cap off shorting stocks suck. I'm working researching TOS and other brokers. I'm missing money, nthh was going to be my first short Monday and I missed. Oh well there will be more. I've set my on rules, I just need at least 100k of this.

Jibri

Hey were are my Tim bucks?

Jibri

How do you chat now on this site, mine is not showing up. And under read this damit tab, the links dont work.

jj

TOS was cool. I had to email them and was able to have the flag removed. Perhaps b/c I used TIM as my referral....i'll have to check out this whole et thing. I do agree trading journal should help us all.

jj

after reading through Jeff's et posts...i like the idea but hate all the trash talk on it. if it was exactly what Jeff has asked for and to leave it just as a trading journal only w. lessons of good bad, I think it would warrent more success...but making anything public means you're going to have a fair share of trash talkers...who just don't get it. it makes it too frustrating to look through to get to the lesson. I'll watch to see how it plays out but if it's anything like the first 5 pages of posts...i'm going to pass.

timothysykes

exactly, there will be little to no trash talking here, haters are welcome, but they gotta back up their junk or get blocked

eb

Jibri...I switched over from Scottrade. The customer service there is very good, but their trading platform isnt the best. Scottrade is good for buying and holding. Ive had TOS for a couple months now and their platform is awesome and their customer service is topnotch. Im happy I switched over.

eb

Tim when will you be posting information on how you use Level II quotes? Because Ive been keeping up with your posts, I seriously feel that my chart reading has gotten tremendously better! I want to learn more about how you use the Level II quotes to your advantage. Thanks.

timothysykes

on my to do list

eb

You're awesome Tim thanks!

jj

i posted a question on the level II's in the q&a section this afternoon. tim - you just need 1 hr. of sleep a day...come on.

Dan

Tim, what do you think about MVBY I think its any easy double from here.

Evan

Hey Tim,

Been trying with TOS to reserve shares of CNEX for two days now. Hopefully, tomorrow morning will be different now that your shares are back in the pot- don't get me wrong, I want you to get to 25k quicker than Doc Holliday's draw so we can see your full (SEC unrestricted) potential, but if it's a question of who gets to 1.65m first, you're second on my list.

Here's a very noteworthy observation (maybe even worthy of a Timbuck or two). If you watch closely at your TIMBUCKS ad on the right, there's a scene from Wall Street with your head on it. Sadly, I've watched it over and over like a goon because you can actually see Gordon Gekko's head for a split second before it changes.

eb

Evan...you're right! I saw Gordon Gekko's head for a split second also.

timothysykes

haha u guys have too much time on your hands..cnex is gonna be pretty much impossible, hence my early entrance

codyhof

speaking of Gordon Gekko, theres going to be a sequel to Wall Street.
http://www.nytimes.com/2007/05/05/movies/05movi...

Jose

Hey Tim,
I compiled a list of some stocks that are in my radar... some look good to short, go long, play on dips and so forth.. also what do you think about playing AAPL for WWDC and the 3G iPhone? I don't think the same thing that happened at MacWorld will happen again. Let me know what you think

IMNY
APPL
PBR
CHL
HDSN
HCKT
MDF
TIK
PDEX
IG
CSGH

timothysykes

all look pretty random to me aside from HDSN and CSGH both of which i've featured here...forget iphone trends, everyone and their mother has diff. expectations, u cant guess the time lags involved with anything more than 50-55% success

will_the_thrill

tim, you might want to put ATSI and AVNX on your radar.

jj

did anyone play NTHH the other day?

traknologist

TOS has a nice log built in now.

burky

Sykes TOS Canada doesn't allow shorts under $3. I believe you mentioned a similar rule but were able to put your order in over $3 and lower later. Just wondering how firm they were on this rule.

bullpicks6

EGTS announces 3-1 forward split...looks like this will go a little bit longer

wes

I was able to get my TOS account balance in CNEX resrved this morning.

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Who Is Timothy Sykes And Why Should I Care?

See Tim's full bio HERE. Tim turned a few thousand dollars into a few million by taking small gains time after time on hundreds of volatile penny stocks, discovering that his trading strategy, while consistently successful, works best for those with smaller accounts.

Determined to teach others this PennyStocking trading strategy (learn more HERE), he went back to his original $12,415 roots (already $58,000+ even though the stock market has crashed) to show everyone how to turn thousands into millions, even while having a life (somewhat) and making plenty of mistakes. Currently he is the #1 ranked trader out of 25,000+ on Covestor)

How Can I Consistently Make Money In The Stock Market?

Hard work, Determination and Know How.

Hard work to learn how the greatly misunderstood niche of penny stocks provides opportunities every now and then on which you should pounce.

Determination to seek those probable profits out and know how in order to actually profit from them.

Long story short, wait for stocks that are extremely volatile - for whatever reason - and then aim to take small profits (between 10 and 50% within a few hours, days or weeks) here and there, either from betting on higher or lower prices (yes, you can make $ betting on lower prices, it's called Shortstocking (learn more HERE).

Why Penny Stocks?

As Tim explains in several ALL-NEW instructional DVDs (see them HERE) and in over 2000+ blog posts, penny stocks are the most hyped and corrupt niche in the entire investment world. These two qualities make them the easiest to profit from (legally) because the vast majority of people who play penny stocks are suckers and all-around ignorant people. If you have any intelligence whatsoever, you have a clear advantage and it's like playing basketball against mental midgets.

Where Do You Find Stocks To Trade?

This is the #1 FAQ (see more HERE) and it is answered in THIS instructional DVD.

Of course, that's just a brief introduction - to receive a full education, there is Tim's book An American Hedge Fund which is the story of his remarkable rise and lessons learned.

To truly increase your odds at profit, Tim has designed an entire set of detailed instructional DVDs, covering all the variables that amount to over 24 hours of instruction (see them all HERE)!

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TIM Trades

View All

Date	Stock	Buy	Sell	Net
Nov 19	AENY	$2.80	$3.02	$1148
Nov 18	NLST	$4.16	$4.40	$947
Nov 18	IMGG	$1.42	$1.64	$2094
Nov 17	NLST	$5.04	$5.59	$2195
Nov 13	VRMLQ	$21.50	$22.97	$2901
Nov 11	EONC	$2.61	$2.80	$687
Nov 10	EONC	$2.74	$3.36	$9784
Nov 6	QXM	$4.31	$4.80	$1936
Nov 4	COT	$8.66	$8.88	$642
Nov 4	QXM	$4.61	$4.89	$822
Oct 30	DDRX	$25.70	$26.53	$812
Oct 29	CTDC	$4.00	$4.42	$781
Oct 26	AWSL	$3.24	$4.10	$2516
Oct 23	RODM	$5.27	$5.23	$301
Oct 22	AMLM	$2.69	$2.97	$820
Oct 22	USEG	$6.12	$6.09	$85
Oct 20	CBOU	$8.93	$9.06	$243
Oct 16	VRMLQ	$16.79	$18.65	$2773
Oct 13	YONG	$11.05	$11.66	$1202
Oct 13	NPHC	$0.59	$0.71	$583
Oct 12	IMGG	$0.60	$0.70	$682
Oct 9	ZAGG	$5.50	$6.10	$2380
Oct 7	GVBP	$0.03	$0.27	$702
Oct 1	NPHC	$0.70	$0.85	$1482

Total: $98,094 (681%)