Good Evening fellow Tim Sykes followers!
I want to take a brief second to introduce myself. My name is Dave and I am from Canada (Toronto) and I am just a normal joe like most people here. When not working as a Firefighter in the greatest city in Canada(Toronto), I am normally by my computer studying the stock market and Day trading. Now, I must admit, trading "for reals" is new to me, but I have been studying the market for about 5 years now. I by no means am an expert, I actually suck at this, but this is MY journey to financial freedom! Feel free to follow my journey, and share with me yours! I promise to be 100% transparent along the way, and help with learning every step of the way!
With that out of the way, I want to talk about the last 2 days of trading with $PIP. This trade was by far the "sketchiest" trade I have done, but something in my gut was telling me that it was a smart move. There really was no bad news (just a dividend payout) and the stock dropped. Yesterday was kind of a fluke, it gapped, hit my scanner, I bought after first green 5 min candle to make a new high, and made money! Nice bull flag too on the 5 min chart! Just what i look for. Great. Today I was a wimp. I was following this and said to myself "as soon as the morning panic hits, I'm buying"...Sure enough I didn't buy RIGHT away, but still got it at 0.92 which in my opinion was still a great time to buy. Relying on yesterdays slow upward trend, I held today until Mr. Sykes knocked some sense into me in the chat and said "SELL AND LOCK IN PROFITS!" Oh ya, right, I want to make money right? Glad I did because the stock didn't do too much after that. Another thing that Tim has said is after a first "Green" day, expect to long the next day, which is what I did. Tim knows his stuff guys, let his rules keep you focused.
Anyways, first blog post, more to come at close daily (unless I'm at my "real" job). Please comment and let me know if this is worth while and that people like it.
Have a great evening everyone and happy learning!