LibertyBelle

Accountability post 05/13/2020-05/26/2020 I finished chapters II.4-II.9 and the corresponding homework assignments of "The Complete Penny Stock Course." I created two spreadsheets modeled after both the Simple Risk Reward Ratio and the Ninja Turtle Risk Management Strategy (NT RMS) from formulae discussed in "The Complete Penny Stock Course." I finished watching and taking notes on the DVDs "New Rules of Pennystocking" and "Timline." I've watched all of the live webinars that were scheduled the past two weeks. I received the book, "The Complete Turtle Trader" for Mother's Day. I have started reading it, and I have been highlighting important ideas as I read it. I also bought the book, "How Yoga Works." This book was recommended by Michael Covel during the Timline DVD. I have started reading this one too, and I am about six chapters into it. I decided to start "dipping my toe in" when it comes to my trading. I had one small win and a few losses. Most of them were very small, but I had one bigger one where I lost $50. I chased it a little bit. I learned from all of my bad trades this week. I wouldn't consider them good ones, since my plans need work. I want to start gathering the experience, so my trades for the next month or so will be small so that I can practice. So far I am down roughly $56 from my $2000 initial investment. I joined a couple of stock promoter email lists and I joined The Lion and IHUB message boards. I also added new bookmarks to my research folder for websites that display promotions and hype about stocks. I found a spreadsheet template on the internet for back testing trading strategies and profit/losses of each of my trades. I entered in the 5 trades I have made so far. I am looking forward to seeing what different strategies work best for me once I do more trades. I watched Tim Lento's webinar tutorial on the Think or Swim stock scanning software. I fine tuned my settings, and added some things now that I know how to do them. I started watching the DVD, "TimTactics." I am visiting my parents for a few days this week. It's a seven hour drive, so I am not expecting to get a lot of studying done. I will fit it in where I can, and I hope to do a few more trades so that I can start filling up my experience bank.

Join now or log in to leave a comment
LibertyBelle

Accountability post 04/29/2020-05/12/2020 I watched all of the live webinars that were held during this two week period. I practiced paper trading and following the gurus in the chat room. I tried to understand the "why" behind each trade I studied. I tried paper trading with 3 platforms, Think or Swim, Stocks to Trade, and E*Trade. E*trade would freeze up ALL the time, and it was really hard for me to get out of trades. I liked ToS and STT. I would probably choose STT if it wasn't so expensive for me, but I need something cheaper. I really like how STT is set up, and the tutorial videos are great. I had everything set up in a way I could understand, but it is too expensive for me to be starting out with it. ToS is free with my TD Ameritrade brokerage account, and I had some success paper trading with it. During one of the Challenge webinars with Tim Lento, he shared his ToS setup with the group. I was able to load that in, and now I feel like I am set up in a way that is very similar to STT. So I have committed to using ToS as my stock screening software from here on out. I read Tim's book, "An American Hedge Fund." It was a good read. The Cygnus trade kept me at the edge of my seat the whole time, even though I had a feeling it was going to end badly for Tim, which it did. I went through my emails, and I am now caught up with all of the videos that have been emailed to me. I found the blog post where Sykes lists his famous rules and I took notes on all 71 of them. I also clicked through to Tim Grittani's list of 40 rules and I wrote those down too. I watched the Penny Stocking DVD while taking notes. I filled up my first notebook with note taking, so I started a new one. I purchased "The Complete Guide to Penny Stocks," and I started reading and doing the homework assignments. On 5/11/2020 I made my first real trade for the homework assignment in Chapter II.3. Please refer to my blog and trade post for more details about the trade. I am currently on Chapter II.4 in the book. I watched Mark Croock's Options webinar from March 2016 in preparation for the Options Bootcamp webinar he scheduled on 5/20, which I also watched. I took profuse notes on both webinars, and I have dedicated a separate notebook to options trading for note taking. After watching the webinars, I am very interested in learning more, and I think I will want to experiment with this type of trading in the future as I gain more knowledge. I watched Michael Goode's past webinar, "Coronavirus and the State of the Economy." I am currently over halfway done with watching the DVD, "The New Rules of Penny Stocking." I love that it is in Vegas at the Mandalay Bay. It makes me nostalgic and I miss my job, haha!

Join now or log in to leave a comment
Received 2 Karmas
Raylbc27
1
Raylbc27 Apr 30, 2:22 AM

Hey @ladysteeltoe great story! Yes anything is possible and trading stocks there is no limit on the amount (unlike a job) you could make. Good luck on the challenge. Open up a paper account and practice the first couple of months before jumping in with REAL $$ and get comfortable with a good broker I have posted blogs on my page you can check out! It may have some helpful notes for you.

Join now or log in to leave a comment
LibertyBelle

Accountability post 04/13/2020-04/28/2020 I watched and took notes on all 13 Challenge Orientation Videos in the student portal. I watched and took notes on 3 of the DVD's on profit.ly: "Penny Stocking Part Deux," "Penny Stocking Framework Part Deux," and "Spikability." I signed up for E*Trade, Interactive Brokers, and TDAmeritrade (to get access to Think or Swim paper trading). I already had a brokerage account with Charles Schwab, but I only have used that account for traveling since they don't charge ATM or foreign transaction fees on a high yeild investor checking account. I have never traded before. I will probably use E*Trade, and I have already moved my trading money into that account even though I don't plan on trading for real for at least a month. I signed up for the Stocks to Trade trial a few days ago, and I went through all of Tim Bohen's Getting Started lessons in STT University. I really like this stock scanner, but I am hesitant to subscribe. The fee is daunting to me since my only income at the moment is coming from unemployment. That might be something I can get when I start profiting. Meanwhile I'll have to learn a more affordable platform. I watched all three live webinars last week (Tim Lento, Tim Sykes, and Mark Croock). I watched Tim Lento's live webinar today, and I plan on catching Tim Grittani's webinar later this afternoon. I have reminders set for the webinars scheduled for tomorrow and Thursday as well. This week I have made it a point to open chat at market open, and I have been following the other traders in the room as they discuss their trades. I have been paper trading some of these trades to learn the mechanics. I have been making a lot of mistakes, but I'm learning from them and it's not a disaster since I'm trading with fake money. I've played with E*Trade, Think or Swim, and Stocks to Trade. Stocks to Trade has been the easiest one for me figure out, probably because of the tutorial I watched. I have been living and breathing the material these past two weeks, but I know I am only scratching the surface of things that I need to know to succeed at this endeavor. I understand the basics of trading and the stock market, but there is definitely a lot of room to build on top of that knowledge. I'm looking forward to the journey!

Join now or log in to leave a comment
LibertyBelle

I started Tim Sykes' Millionaire Challenge two weeks ago. I went on a hunt for a notebook before I started watching some of the DVD's so that I could take notes. My daughter had an old science notebook that she had only used a couple of the pages, so I decided to use it. I thought I'd be using it for a couple months. Well, after two weeks of watching "Penny Stocking Part Deux", "Penny Stocking Framework Part Deux", "Spikability", and all 13 orientation lessons, I'm amazed to say that the notebook is almost filled! Unbelievable. I am desperate to learn this stuff, and I think it shows! I don't remember taking this many notes when I went to college years ago, lol!

Join now or log in to leave a comment
Page
of 1