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nickMO
1
nickMO Jan 27, 16 7:12 AM

or recap about the trading day.

Missedy2
2
Missedy2 Jan 27, 16 9:37 AM

I really hope you dont quit and just take some time off. You've answered many questions I had and gave me advice and I appreciate it .Take a few weeks off if need be and still study and practice ... Both Tims said that in the begining they lost money but they didnt stop and look where they are now... I hope you decide to stick with it

bank_a_tronic
bank_a_tronic Mar 30, 16 2:33 PM

Dustin, I think that you should stick with it, redouble your efforts and give it another go :)) This audiobook on the Secret Law of Vibration (Good Vibes) can really help & work on getting one's frame of mind more geared towards whatever they want to achieve: https://www.youtube.com/watch?v=AIfh856Wlvc

bank_a_tronic
bank_a_tronic Mar 30, 16 2:34 PM

Keep it up-there just aren't that many stellar trades everyday-hold out for the sure set-ups! ;) Keep your head up!

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ericgtm
ericgtm Jan 22, 16 7:30 PM

@JLLOYD Yeah, I agree. It's part or money management. Trade like a businessman. Make $100 to $200 a day then stop trading. Do that everyday and cash out consistently. Trade with the same size, scale in scale out. Keep emotions out.

ericgtm
ericgtm Jan 22, 16 7:32 PM

Some days you might make a killing. When you making a home run that's my queue to stop trading and wait the next day. And cash out of course ;)

JLLOYD30
JLLOYD30 Jan 22, 16 8:21 PM

@ericgtm I agree 100% with every thing you just said. Start with 5k and with draw all earning for the month. If earnings are substantial and your confidence has grown increase to 10k for the next month. And 5k each month this continues up to 25k. 25k is the max I would put on any one trade until I grew more comfortable.

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DKingston
1
DKingston Jan 14, 16 11:33 AM

@JLLOYD There has been much more than 1 super nova. I listed several that have gained 100%+ in this month above in the comments. Take a look for yourself if you don't believe me. I would rather not list them all over again. Have an awesome day, and may God bless you in your trading!

JLLOYD30
JLLOYD30 Jan 14, 16 1:30 PM

@DKingston News flash ... 100% is not a supernova . A supernova is a stock that goes from $1 to 7 (example)

JLLOYD30
JLLOYD30 Jan 14, 16 1:32 PM

Mini supernova is like 400%ish ...anything under please

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Fabio85
Fabio85 Jan 06, 16 5:02 PM

Awesome, Thanks Tim! :)

Hazey
Hazey Jan 06, 16 5:51 PM

Thanks Tim! I always lookout for your watchlist on twitter. Nice to know I will be able to find it here as well.

BUFFALOish
BUFFALOish Jan 08, 16 7:58 AM

Will be great to have an e-mail notification each day with your picks. Glad you are not including your bias only the ticker so we have to think for ourselves. Thank you!

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BUFFALOish
BUFFALOish Jan 08, 16 8:16 AM

love these recaps Tim, it really helps me with my own discipline after seeing your mistakes and how you plan to avoid them in the future. keep up the great work

BSW561
1
BSW561 Jan 09, 16 9:40 PM

Definitely relate to when you were talking about making more money in a day/week/month etc. I find that when I make 500 to 1000 days I want to take it to the next level and this has been killing my account. Although I might make 300 here 400 there all of a sudden I'll get hit with a big loss because I'm not sizing down my risk level. Thanks for the recap. Great lessons.

BSW561
1
BSW561 Jan 09, 16 9:41 PM

And when I mean take it to the next level I mean playing with too much size or not cutting losses fast or even adding.

Patience_Trader
Patience_Trader Jan 28, 16 8:37 PM

Thanks for sharing, looking forward to the Jan. recap.

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Nathan_casey
Nathan_casey Jan 03, 16 10:26 PM

@timothysykes I also hear both sides. People who use it say it has good fills and fast executions, people who haven't say the opposite. Guess you just have to try yourself.

tiagolopez6
tiagolopez6 Jan 04, 16 4:19 PM

I'd recommend tradezero, no commissions as long as you "add liquidity". Decent plataform with lv2 and charting tools. high/low hit list and all the basics. No scanners, no pdt, offshore bahamas. It's an option. Regards!

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BigDog
1
BigDog Jan 03, 16 6:59 PM

Great post, thank you, yeah, me too "completely readjusted my focus for 2016"

BowlesTrader5
1
BowlesTrader5 Jan 03, 16 7:54 PM

Try paper trading but every great trader fails at some point, so be glad that yours is hopefully out of the way. Leave you emotions at the door and trade with a clear head from what you learned, and you at least won't LOOSE money

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BSW561
BSW561 Jan 09, 16 10:05 PM

Good stuff. Definitely need to figure out what I'm doing wrong with terms of risk level and playing size. Thanks for the post. Good stuff.

chilitrader87
chilitrader87 Jul 06, 16 12:12 PM

Nice video Tim, i have now made spreadsheets similar to yours and is working excellent for tracking P&L, while learning and taking extensive notes. Keep them coming ! Nice job

STicker
STicker Dec 13, 16 4:55 AM

Thank you so much, can you please add the link, I am really curious to read through all of your mistakes, as I assume I can learn also from them! Thanks again for sharing!

Tomislav
Tomislav Jul 28, 17 10:15 PM

Very nice!! Thank you!

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DKingston
1
DKingston Dec 09, 15 1:05 PM

I only covered half my position and the other have shot up .40/share. How awesome is that LOL

jlm2053
1
jlm2053 Dec 09, 15 3:19 PM

Thanks for the advice. It all helps!

BUFFALOish
1
BUFFALOish Dec 09, 15 3:23 PM

you were on the right track! better luck tomorrow, keep up the good work on the watchlists :)

Jtimeless
1
Jtimeless Dec 09, 15 3:42 PM

great to learn from your mistakes bro (this is good stuff) its helping the community and more importantly is helping you.

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nickMO

[TimChallenge] if PIRS can hold above 2.85 resistance it has a change of moving into the 3s

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BUFFALOish
BUFFALOish Dec 09, 15 1:06 PM

I did! The did almost exactly what I wanted it to do: After yesterday's spike I figured there would be a morning panic and sure enough there was. I bought in at 2.58 and then it almost hit my goal 20 minutes later at 2.90 but then failed to touch resistance. I kept creeping up with my stoploss until it reached 2.79 so that's where it executed after it failed to break resistance. Very happy with the trade, a quick $80 but more importantly I set out and accomplished my goal that I created last nig

BUFFALOish
BUFFALOish Dec 09, 15 1:09 PM

ht. TERP would have been a better play but I wasn't as focused on it this morning due to not being up in time to properly study permarket. This is what I want to focus on though for the future is using premarket analytics to determine how TERP could have been a better play before executing on a trade like PIRS. I stuck to what I knew and it worked but with a little morning research I probably could have banked better off TERP. Looking forward to getting better at narrowing watchlists into market

DKingston
1
DKingston Dec 09, 15 1:12 PM

I thought about going into PIRS when it bounced off support at 2.60. It would of been a decent trade. I'm glad you made a profit!

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BUFFALOish

[TimChallenge] would $NETE now be a good dip buy since it sits at today's support and is stair stepping similar to last week? I was thinking about buying but know the ceiling is probably near .40 where it failed before

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BUFFALOish
1
BUFFALOish Dec 06, 15 11:35 AM

agreed. I just imported all my trades when I started the challenge. I should have done this to begin with, would have made me more conscious and lost a lot less money

AirplaneJane
1
AirplaneJane Dec 08, 15 11:12 AM

It definitely helps to track them and make you more conscious to cut losses early and get out of trades not working for you. Keep at it you will get there to be in the top 10% that can make it work at day trading.

FoxTrotTrades
FoxTrotTrades Jan 04, 16 11:26 AM

How do I import my trades to profit.ly?

BUFFALOish
1
BUFFALOish Jan 04, 16 12:20 PM

@foxyoptions go to "My Trades" -> "Verify Trades"

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BUFFALOish

[TimChallenge] poorly played $CDII and got burned. lighting my hair on fire and smacking myself in the head 3x or until the fire goes out :@

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awishart19
awishart19 Nov 26, 15 3:16 PM

I feel for you man but just remember that most successful traders blow up their first 1 or 2 accounts before figuring this thing out. I hope you decide to stick with it after all of your efforts and after the valuable lessons you've learned. Just think about how much encouragement you can provide to someone a few years down the road when you're a success and they're in the same position that you're in right now. I wish you the best no matter what you decide to do.

Tunde1306
Tunde1306 Nov 26, 15 4:14 PM

Be careful with margin in general. It's like you have a credit card and you leave it unattended in a shopping mall accidentally. Before you even realize you're without it, you could possibly be down 5-10 thousand from some lucky asshole who took advantage of it. In hindsight, protect your credit with your life.

Gibran
Gibran Dec 17, 15 2:33 AM

You see , all those thousand hours werent enough for learning, there is still much to learn , you never end up learning, thanks to this post I wont have to learn the lesson. ;) JUST MOVE ON MAN, Ive lost thousands in cars ive sold and ive learned and that reflects in my results , its normal man! :)

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