I’ve Been Wrong 6 Picks In A Row, What Will I Do?
Posted by Timothy Sykes on Mon 29th of Dec, 2008 05:00:04 PM
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Nothing.
Traders who look for patterns in their trading are sad little people…They post on sad little places like IBankCoin and Elitetrader, lying about their gains, too afraid to post the truth, that they are failures like the 90-95% of traders we know from too many academic studies are losers/failures.
So I’ve had 6 not great picks in a row, so what, there were gainst to be had by any TIMalert subscriber who was quick enough, not even counting any DVD student smart enough to anticipate my trades (which is wholly possible consider I lay out my entire trading variable sfor all to see ahead of time!!!!) I’m less than $1,000 off my highs…that’s right, one decent trade will be greater than 5 bad trades.
Because I cut my losses quickly. Because if there’s one thing my instructional DVDs will teach you it’s to cut your losses quickly.
Don’t like how a stock you just bought/shorted is acting–cut your losses. Have a gain, but don’t know where the stock is heading? Cut your gains too!
The key to successful trading isn’t being right 100% of the time, or even 80-90% of the time as has been my habit over the past DECADE, it’s to be more right (taking bigger gains when you are right) than wrong (having smaller losses no matter how many times you are wrong).
My last 5 trades weren’t bad trades, sure, I might’ve entered too early/didn’t wait for resistance to crack on my latest CPY (thought it a worthy risk since I didn’t know if there’d be shares available when the true crack came), forced it on HSNI (just overtrading there), RVI was ideal, just didn’t work (I’d make that trade over and over again, booo hoo, I got squeezed for 17 cents/share), CPD acted weird and TKTM was another bored trade.
I make mistakes, I’m not a trading master, get over it! Still up a cool 10% in December from the picks that did work–see how my gains outweigh my losses?–and 240%+ on the year…an environment that has been called “the most difficult market ever” by many unread/untalented “experts”.
And considering the scum in this joke of an industry, I am better, far better, than most, as evidenced by my the travesty that I’m still dominating Covestor, out of 15,000+ investor/traders who don’t spend all their time blogging/making instructional DVDs/traveling…truly pathetic (is there no one else?)
….the key is not letting those mistakes turn into anything meaningful. Cutting losses quickly…cutting losses quickly….Cutting losses quickly….Cutting losses quickly….Cutting losses quickly….Cutting losses quickly…..write that out 100 times so maybe it’ll sink into your dense wannabe trader heads.
Judging by my the TIMalert subscribers testimonials from these 6 trades below, I’m reaching a few of you:
lost 90 on HSNI trade. still good fundamentals…just wouldn’t break down
-jharding
and covered TKTM at 6.32 for (317)
-cswiger
Total loss on RVI: $1200.
-Reaper
loss on RVI 100, skiing yesterday with kids priceless
-nojo
Lost $260 thanks alot timmy :(
-cashisking
squeezed for a $292 loss.
-cash
squeezed out for $80 bucks….
-sebbid
i took the $70 loss as well a while back
-BTB
Jumped out, another small $100 loss, maybe my position size is too large..
-Rassodock
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TIM Trades
View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| July 2 | KIRK | $10.60 | $11.53 | $1377 |
| June 30 | ISRL | $107.97 | $118 | $985 |
| June 24 | LZB | $4.53 | $4.81 | $1240 |
| June 17 | GWSC | $1.86 | $2.76 | $2679 |
| June 15 | SHZ | $1.66 | $1.83 | $280 |
| June 15 | SPNG | $0.11 | $0.18 | $630 |
| June 12 | JAZZ | $2.84 | $3.26 | $380 |
| June 12 | MAPP | $9.68 | $10.07 | $565 |
| June 8 | HEB | $3.00 | $4.18 | $334 |
| June 3 | GROW | $8.64 | $8.96 | $740 |
| June 3 | SYMX | $1.21 | $1.11 | $940 |
| June 1 | USCN | $0.55 | $0.86 | $260 |
Total: $65,674 (421%)
I always assumed that keeping a Trading Diary you mentioned before was a good thing. I wouldn’t know what else to do with a diary but to look for bad patterns in my previous trades to learn from the mistakes. Maybe you mean something else I’m not getting…
Granted though, people who are too quick to judge usually don’t take the time to understand the picture. Sad indeed.
When will Brian Shannon show us that he has made 200% per year on his account, and only does youtube videos, twitter, sells books, online classes for fun? LOL….. I can’t wait to give him $1,000 for 4 hours. He probably doesn’t want to run money because he would make too much……i was going to ask him to run a billion dollars, but i guess he would rather sell me a book. haha.
Obviously, TIM’s time is better spent trading than doing the website. “A person who is trying to sell a product that can make people fortunes is indirectly saying this: more money is to be made and time better spent in selling this product as opposed to not selling the product and implementing it instead.”
You dont know how to trade dude
Am I the only one short overnight short on that crystal clear breakdown day-confirming afternoon fade-no support until 3.50 stock that is LCAPA ???
Am I the only one long on that clear breakout- giving you lot of time to get in steadily increasing stock that is MBLX?
I guess Tim is waiting for even better setups before trading again. after the last picks didn’t work. All else aside, I think these two trades are consistent with his 1st PennyStocking DVD .
Tim,
Two things - stop fighting. Makes u look petty, young and immature - also keeps the so called haters coming back. Yours is the only site I know that I screen for laughter rather than concrete information. A little silence and humility at times. Fight, fight, fight all the time - jeeze. What an annoying little fuck.
Another thing, the stocks you trade are, for the most part, thinly traded and can easily be pushed around. Hope you haven’t made too many enemies out there. These guys could easily follow you just to whip you and your subscribers out of trades for laughs. I’m certain there are a few that would love to see you fail. Your system worked while you were silent and had the edge to yourself. You and your system could now just be a play toy for those that would just love to see you fall flat on your face. I’m just sayin. Watch your back.
Lastly, change your schtick. I know that you probably sat down with a marketing agent that helped you develop the Tim brand after WSW, but it needs to evolve with time. The same old drone about “there are stupid people out there” and that this “corrupt business….blah, blah, blah….” How about this - there are those that are self made, and are interested in the system you devised, and do have money to spend. But these same people are put off by the petty, immature, shallow presentation that is TIMMAY. Grow up and out of your parents influence - it’s time. It may also lead to a better second act.
Tim - we get it - you are your own man. Now mature and show us that you are a man instead of an annoying petulant kid. You have intellegence - stop tossing it in your subscribers face every goddamn day. Do you think the followers cant read your results plastered on you blog, cant read Covestor, cant figure that the stock you mentioned didnt work out. Give them some credit. Results speak for themselves, if you have em - there’s no need to talk about em. Believe me, we know who is doing well and who is not.
Can you imagine being the way you are in 10 years? It would be laughable. mature with your audience. That is the way to keep them.
I may just decide to stick around and buy something.
Get this - no charge! Imagine that.
jamie - hmm seems silly trying to convice someone to change when they tired that and failed.
i think it’s good what he’s doing and it’s nice to see someone speak freely like a child.
so F^ck UP.
Great post Tim. This is what sets you aside from the rest of those stock pickers that sell their garbage - Honesty. In an industry full of empty promises and the wanna-be-Madoff’s, your strategy is solid but by no means 100%, but it’s what led me to nearly double my initial investment in the last 6 months. Hats off to you.
thanks for the advice guys, i consider everything, but the hater posts are far and away the most popular, i wanna give u a taste of the idiots out there so u can realize who your competition is…as for changing my schtick, if i wasnt grwing my biz and doing so well, i’ll consider it
PS i’ve never been the most mature, nor will i ever be, no reason to fake it
Tim,
Look what these POS over at Marketwatch are hyping now. Some BS “Lazy Portfolio” that they are so f-ing proud of. It beat the S&P by between 3 and 18 pts in 2008!!! Holy Shit! Stop the presses!
Still means the stupid mofo’s are down 28% to 38%. And this is headline news on Marketwatch! This f-ing shit pisses me off.
Keep doing what you are doing Tim!
Here’s the link:
http://www.marketwatch.com/new.....aspx?guid={E146D4D1-E04D-4EEF-BF15-8F5FCB69DA83}
link i posted came out screwy but go to Marketwatch.com and the article is front and center cause they are so damned proud to have lost 20% of their money this year!!!!!!!!!!!!
Wasting it on coke and whores would have been more satisfying….
Timothy, I would like to form an alliance with you. Together we can ride on iBankChange and destroy them! My rap rhymes are legendary. Hit me up if you are interested. little2rich4u@gmail.com
Dude, you dont know how to trade
uhhhh according to my totally transparent track record i do
Covestor is a game and can be rigged, not surprised by your ‘fake gains’. Thats why you see the difference between 3000% and your ‘realistic’ ‘250′ %. If you were so good trading, you will have traded investments banks like GS, C and Bears Stearns short the whole year, saved money in commisions and gained more than 250% very easily.
Stick with selling amateur videos who people than dont know at all and follow your supposed own rules.
Even people that read your book at amazon says you suck.
Amateur
Why you dont get your real trade ‘gains’ audited by a 3rd party and post the results in the blog, then i believe you. Will then, you are just talking and no proof.
Hector: You’re one lazy ass fuck. How do I know this?
Tim explains how made his fortune in his book. He lists out what he trades. For fuck sakes, he details all his misfortunes too.
But you still decide to call him out. And what evidence do YOU have? Other than his immature comments/blogs I don’t see you pumping out any facts. You sound like one of many Tim’s hater camps who got a little more bolder and came to the website to spew garbage.
If you accuse, you have to back up your claim. Tim has done his side of the work by ACTUALLY having it audited.
But y’know what? It won’t be enough. I can read your list of backup excuses. If its an image, its photoshopped. If its a letter, forged. Blah blah blah.
If you really know the dirt, then do what the Smoking Gun does and ACTUALLY have some proof. You sound like someone who just doubts for the sake of doubting.
Maybe I should stay away from this blog. Good place to find some stock picks but christ, it gets me worked up and that’s no way to trade.
Hector,
Tim’s gains are audited from the past. He paid 15k to do it
i dont want to trade real stocks, i represent dumb/real people who realize most traders lose…i have a niche and i stick to it, gotta love those who this offends
I am a market maker.
I subscribe to your fine sheet.
I will fade and bury you and your minions.
Have a pleasant day
Chump change, dude…I dont have to prove anything to you, just to the IRS.
Get real.
When I see at least a decent office with real furniture i will give up benefit of a doubt.
Maybe you can clean my office at GS