How To Be The Tiger Woods Of Trading
Posted by timothysykes on Sat 21st of Jun, 2008 11:12:26 AM
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I often get asked how much time should you spend trading/researching? My answer is how badly do you want to win? The more time you spend researching, checking patterns, reviewing trades, reviewing others’ trades—yes, you might have to give up some video game, sports, TV, partying, girl/boyfriend time but sacrifices are necessary…hell I missed my college graduation for a great trade!—the more comfortable you’ll be in your trading because you’ll have seen similar patterns and trades before.
The more comfortable you are, the more time you’re willing to devote to this since you’re enjoying yourself more, the more trades, patterns and variables you see, the better you understand them all, the better you understand your own strengths and weaknesses the better odds you have on each trade, the more profitable you become.
Spending all day, every day, trading, is definitely not the way to get rich, but it will help you understand what works and what doesn’t. (You might also lose your mind so some time off is required) Over the past decade, I’ve been through just about possible stage a trader could experience—over-trading, under-trading, scalping, swing trading, day trading, short-term investing, long-term investing, getting too cocky, being too unconfident, booms, busts, fast times, slow times, etc—all of which has allowed me to become more mentally tough, this increasing my chances at winning. And despite all this, I still have a ways to go in my learning.
When I posted about Tiger Wood’s at the US Open, I knew it was an awe inspiring performance, but I had no idea—nor did anybody else—understand how bad it really was.
It turned out Woods played 91 holes of major golf with a double stress fracture in his left tibia… doctors told him the stress fractures required three weeks on crutches and another three weeks of rest, which would have meant no Open for Woods
THIS article even talks about how his knee was making weird noises!
That’s not just mental, but physical toughness.
How do you think he got that way? Years of training. Preparation and THIS
You can be the Tiger Woods of trading.
Now you can Twitter any questions/comments to TIMhelp and obviously you can follow TIM on twitter too!
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TIM Alerts
View All| Date | Stock | Position | Ideal Exit | % Gain |
|---|---|---|---|---|
| Nov 24 | KVHI | Short | $3.70 | 18% |
| Nov 20 | STSX | Short | $3.10 | 11% |
| Nov 18 | PERY | Short | $3.75 | 25% |
| Nov 11 | IIJI | Short | $2.80 | 5% |
| Nov 6 | CVI | Short | $4 | 15% |
| Nov 5 | MECA | Short | $1.95 | 51% |
| Nov 4 | CVI | Short | $4.81 | 4% |
| Nov 3 | NAK | Short | $3.20 | 5% |
| Oct 29 | EVC | Short | $2 | 26% |
| Oct 28 | HSNI | Short | $6.80 | 7% |
| Oct 28 | HSNI | Short | $5.75 | 4% |
November: 9 alerts, 15% avg gain
October: 11 alerts, 14% avg gain
Wow, 91 holes…. His swing finally cost him something, but i guess he has won so much it doesn’t really matter now.
Doesn’t matter if you like golf or sports in general (which I know Timmay doesn’t, which is good, because he’d probably be a Giants fan), but you can’t help but be inspired by Tiger Woods..
actually am a huge giants fan :) season ticket holders since 1970
i saw that tiger commercial last weekend and it really is inspiring, great article tim
Excellent post! As a former college golfer I’ve noticed many similarities with trading and competitive golf. Mental performance has much more importance in both than educational background in trading and physical capabilities in golf.
http://video.google.com/videop.....4850461404
Tim,
If time, effort, and learning from mistakes makes you mentally tougher and more experienced, all the best fund managers would be elderly and getting outrageous returns. What went wrong?
yak, fund managers are different from traders…problem with investing is it takes sooooo long to practice just 1 shot…so even if you work your entire life, we’re talking about less than 1,000 practice swings….trading you could do that many in week
Hey, what do you guys think about TGC and BQI breaking out. It looks like next week will be huge. What do you guys think???
Tim and readers,
What do you think about PGTI and KYUS having a great week next week?
Tim, you should get some type of trading seminar that travels through the country teaching about your technique and just the general basics of your premature wisdom, something like what trump does.
good stuff, i learn alot from you
yah i’ll seminars eventually…for now i prefer just great posts like this new one:
http://www.timothysykes.com/ti.....two-worst/
It is funny Tim but someone ask me yesterday what I want to be in a few yrs and I told them the Tiger Woods of trading.
Question for everyone:
Who would make more money in a year if they were both in their prime the tiger woods of golf or the tiger woods of trading?
I think right now tiger is banking around 129 mill a yr.
Tony what is your handicap?
I know you’re kidding about the Giants thing (although you could be serious, and your family could have season tickets since 1970?), but that’s all good Tim, we can still be friends… Just not between September and February :)
not kidding, giants rock, even if eli is still a lil bitch
Golfers aren’t even athletes. It’s one thing to play the game but those idiots that watch it are losers.
Eli would make you his lil bitch if you said that to his face.