A Well-Paying Profession That Encourages Great Amounts Of Travel…
Posted by Timothy Sykes on Tue 23rd of Jun, 2009 03:40:16 PM
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You have until June 30th to SIGN UP HERE for my TIMalerts real-time trade alerts (not just alerts emailed within seconds of my actual trades, subscribers also receive detailed nightly watchlists of the hottest stocks to watch the upcoming day and access to the chatroom on subscribers-only TIMalerts.com) to lock in current prices of $1/day (or 81 cents/day if you SIGN UP HERE for an annual membership)…afterwards, prices are going up…learn why HERE…
…actually, it’s more of an addiction, trading!
As I travel to Spain & Portugal this week (I’m leaving tomorrow!!! Any of you readers around there?) readers and China (any readers there?) in August (don’t worry, just like my last trip to Japan (see details HERE) and Europe (oh yeah, see how that trip went HERE) I’ll still be watching the market and while my trading activity will surely decrease, it’s actually a good thing since it helps me focus on only the best plays…like GWSC last week…I thought about explaining why travel is so necessary…
…but I can’t put it any better than THIS guy:
I too lost all my money twice as well. Luckily this was when I was young and just starting out. As a last resort I took money out of my house to start over and vowed never to be in that state again. I realized that the main reason why I lost all of my money twice was due to holding onto losers and averaging down to zero. Everyone’s errors are different but you need to notice them and not repeat the same mistakes. And I never play more than what I can afford to lose 100% in 1 position. So even when I break discipline and hold onto garbage positions, it will not wipe me out like it did when I started out. You NEVER want 1 strikeout to end your career. Like baseball, this is 9 innings, 9 outs per inning, 3 strikes per out . You don’t want to strike out on 1 swing and end your career!
When looking at other huge traders who bank huge, they also lose huge. The key mentally for me was to realize this is NOT gambling. It’s a job. The last red day I had was over 3 months ago and for a tiny amount (knock on wood). Daytrading is definitely NOT gambling if you are disciplined. That’s why I feel trading is more of a mental game than anything else. It’s a daily struggle to be in control of your own emotions in the constant swings.
And that’s why I take so many vacations! You need to have a clear mind when you trade else you will do stupid things and blow up. This year I went to vegas 5 times, went to Hawaii 2 times, went to Japan and Korea, all over California, New York, and will traveling more whenever I find time. But sometime you just have to MAKE TIME. The markets will always be there…
And that’s coming from a penny stock traders who makes some biiiiig bucks (yup, anybody who’s ever lost big and can admit it freely is usually worth listening to…I never lost it all, but after earning $2 million+ over 4 years and then losing $700,000 or so over 2 years, or a little over 1/3 of my hedge fund at the time, definitely has made me a better, wiser trader.
Trading can be used for good or evil, it all depends on what you do with it…if you think of it as profiting from opportunities as they arise while still living your life, and better yet enjoying your trading profits to augment your living that life, then you’re good.
The key obviously being to learn from those who are honest, experienced and toughest-of-all-to-find, consistently profitable…try instructional content like THIS
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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%)
