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I Had The Worst Dream Last Night…

Posted by Timothy Sykes on Sat 15th of Nov, 2008 09:24:26 AM
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Do bear with me as it doesn’t make perfect sense, but the trading lesson remains which is why I share:

I’m watching a golf tournament which is being led by Greg Norman and somehow I’m able to short 3,000 shares of Greg Norman at $1.28. (For some reason, his ticker is FBEA…the price goes up or down based on how likely it is Norman will win the tournament like McCain’s election chart over at Intrade).

So, Norman, as great as he is, starts choking and his stock drops to $1.20/share….now I don’t want to cover FBEA too soon because I don’t want to be trading against my TIMalert subscribers so I hold off from taking my easy profits with the goal of covering in an hour or two—when no self respecting TIMalert subscriber would still be shorting.

Sure enough the price keeps dropping and I want to cover at $1.04 for a solid $700 and I put in my “buy to cover” order with a limit of $1.10 (just in case since FBEA is also a OTCBB stock so the executions take longer than expected).

Five minutes goes by and I still don’t have my execution…and friggin Norman sinks a birdie on the next hole and the stock jumps to my limit at $1.10.

I check my order screen and realize what the problem is–it’s not a slow execution, it’s that I put in my buy order (my broker Thinkorswim doesn’t differentiate between “buy to cover” and “buy” orders) for ticker FBAE, which happens to be Phil Mickelson, so I got executed on Mick at 92 cents/share!

So now I’m short Norman, long Mick, which is the exact opposite of what I want to be considering Mick has all but given up and is enjoying a friggin candy bar on national TV.

…and then I wake up.

Trading Lesson:

Fat finger trading mistakes do happen, accept them and get out of these trades ASAP

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  • tlento
    It's called "live betting", you can actually make similar wagers on gambling sites.
  • croth
    I had a similar dream last night. I wanted to go long FBEA but clicked on the wrong button and went short again. I said, what the hell, maybe my initial thought was wrong. When it went down, I was happy, and wanted to double my position. Again, I clicked on the wrong button and closed out my shares.
    Before I could swear and curse my faulty keyboard, FBEA shot up and I ended up kissing my keyboard for helping me lock in the profits.

    Fat fingers sometimes help you in your trades. I belive people call that "Luck".
  • bdog
    tim lay off the ambien lol
  • russ wilson
    Tim,

    I too had a strange dream last night but there were no male Australian golfers involved. Paris Hilton had her thumb up my a$$ and was yelling something in Portuguese, which is weird because I don't particularly like Paris Hilton and don't speak a word of Portuguese. Strange huh?
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Start Here

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)!

TIM Trades

View All
Date Stock Buy Sell Net
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: $92,304 (644%)