My friend was at a NYC bar one night going through his notebooks full of music when the famous Led Zeppelin guitarist Jimmy Page walked up to him and told him how he used to keep detailed notes and notebooks too and said, “at some point you have to let the notebooks go and just play.”

 

I was planning on writing a “What I Learned” type blog post as I just now finished watching all the Pennystocking Silver lessons. But as I started to write I thought it’s probably more credible to list some of Tim’s sayings in his own words that he repeatedly instructs in his lessons many many times over. I have so many notes and really wanted a way to close the notebooks and remember the basic gist of his strategy. With currently nearly 3,000 five minute lessons or roughly about 250 hours it’s a mountain of information. To give you an idea of how long it will take if you plan on digging through them all--I started in July of 2014--so it took about 9 months. I think it’s realistic to get through them all in 3 months if you dedicate yourself and watch about 1,000 videos a month (83 hours a month) which is watching roughly 3 hours/day on average.

 

I do suggest everyone watch all the lessons and master the strategy before starting to trade. I realized early enough (to stop trading before I completely blew up my account) that I really don’t know enough to be successful yet. Now I’m learning the rules, the indicators, and the patterns--and I’m getting on the right path and I will be a knowledgeable veteran trader some day. We all have to start somewhere. It’s all right here for you if you want it bad enough. And if you don’t want to watch all the lessons, at least pick one tactic and study all the content for that one particular strategy. For example if you click on “breakouts” you will get around 325 or so results that link to the lessons about breakouts. Props to Mark Croock for tagging and categorizing. Anyway, I hope this list helps some of us close the notebooks and remember the things that Tim says over and over and over. Good luck and safe trading.

 

***Please leave a comment if you have any questions and/or if I forgot any other popular Timisms.

 

Notable Tim Sykes sayings--said an indefinite number of times:

 

• Cut losses quickly

• Profit from the meat of the move

• Focus on hot stocks ONLY

• Focus on earnings/contract winners and pump & dumps

• Don’t try to predict or hold through earnings--rather react to earnings

• Trade like a castrated choirboy--trade scared

• Don’t blindly follow/chase gurus/alerts

• My best students can predict my trades

• I’m not even that great of a trader--you can do better than me

• I want you to be self-sufficient--I’m like training wheels

• I trade to teach--I’m a better teacher than trader

• I’m not your friend--I’m trying to teach you

• Learn from successful people

• It’s not an exact science

• I’m completely transparent--I verify all my trades on profit.ly

• I’m a retired trader--I only come out of retirement for a great trade

• Don’t force/schedule trades--wait for the trades to come to you

• A lot of times the best trade is no trade

• 2 out of 3 stocks trade with the market

• 3 out of 4 stocks trade with the market

• 90-95% of traders lose money

• It’s okay to be wrong, play the odds, follow the rules

• Nobody went broke taking profits

• Learn the patterns, they are 100% predictable

• Focus on good catalysts and good patterns and take quick profits

• Build your account exponentially, that’s how you get rich

• It’s like candyland--four steps forward one step back

• Always look for shares to short

• Google, “No Borrow, No Cry”

• I don’t really like to short shares under $1

• I don’t really like to short mid-day or mid-range

• I covered like a little bitch

• Be able to go long & short--like a forehand & backhand in tennis

• A monkey could do this

• It’s like playing basketball vs a midget

• It’s the exact same pattern in all my DVDs

• I’m not even that smart

• I’m not even good at math

• I’m not technical like that, I suck at technology

• Yahoo Finance is my home page

• A secret to my success is I stay away from the news

• Check the % gainers, news, twitter, and chat rooms for ideas

• Ignore stocks that are too liquid

• Buy earnings winners, contract winners, partnerships, rumors, Seeking Alpha articles stories if they are creating technical b/o

• Play price action only, fundamentals and companies don’t matter

• Posted Apr 20, 15 3:40 PMbyAlpha