A Cool Video That Teaches An Important Trading Lesson
Posted by Timothy Sykes on Fri 2nd of Jan, 2009 03:30:54 PM
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I don’t even remember who sent/where I found this video, but I’ve embedded it because it’s not only cool to watch, but it also serves a valuable trading lesson:
Trading, like life, comes at you fast….there’s gonna be many disasters, near-disasters and close calls where you turn out okay, but never congratulate yourself when you survive/profit by getting lucky. The key to long-term trading success is to position yourself in supreme risk-reward scenarios over and over again, not the risky situations that many of the peeps in this video do:
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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%)
AWESOME VIDEO!!!!!!!!!!
How’s Europe?
Cool vid, WRC always has tons of close calls
makes you think
amen bro. amen. thank you for keeping me in check my dxo bet is making my head big right now. crap.
Timmer… you lost me for a while… but posts like this, your message, is why I started following you way back when…
Nice post.
new post:
http://timothysykes.com/2009/0.....e-gothmog/
I second what noob says. I’ve been following you since the very beginning on here. Tim Alerts subscriber but haven’t read a post on this main site in almost 6 months as most are just not all that useful and don’t teach me anything. Nice post. Keep up the good work man.
Really miss the posts where you put “Tim Lessons” and detailed your trades. This one I still have bookmarked for inspiration: http://timothysykes.com/2008/0.....f-trading/
no time for that now A, all my lessons are in my DVDs:
http://www.timothysykes.com/store
the blog just supports those lessons
Understood. Glad I got in on this site early, read 400+ blog posts, and learned the basics before you went truly commercial back in June/July 2008 time frame. Saved me from having to purchase DVDs and keep that capital to trade with.