TroyMan

I am not a good one to ask about risk as I'm currently in a 1-year experiment where I don't care about risk generally because I only trade OTC former runners as they usually run again and I'll always get out for a profit. I have 467 consecutive wins with the strategies outlined in my 10/31 & 2/27 blogposts. I also have 47 open positions! When I learned that Jack Kellogg had 60 open positions, it made me not worry. What I've learned from Sykes and other mentors over the past year, if buying a dip buy, you might commonly cut if it goes below LOD. What I've learned is that, as long as I'm buying former runners as daily Big % Gainers with Volume, if it goes lower I'll usually do another dip buy and then hold. My trading weakness isn't cutting losers... I proved I could do that quite well as I lost $15k in my first 15 months as a trader ($7.5k to start in Tim's Challenge). My weakness is greed and that's what I'm focused on until Sep... learning how to shoot winners before they fall back below me. Back to your question, another way I've learned from Sykes and the mentors to cut losses is when the price falls below a strong support price. You can always find those by looking back at the 2-mo, 3-mo, & 6-mo charts. You'll see me in Challenge Chat calling out the support prices because if I'm up 10% profit or more, that's how I decide to get out is when the support prices break... then I get out on the very next bounce.... this helps me with my greed problem.

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felix77
felix77 Jun 22, 2:55 AM

nice analogy for one year with Sykes, I'm around the same time as you now , but still figuring it out, good post thx

JJJackson
1
JJJackson Jul 09, 12:07 PM

I have no idea how I have not been following you all this time.

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Jenna
Jenna Apr 19, 5:08 PM

awesome! Going to study this!

tyler56
tyler56 May 25, 2:17 PM

Mate this is awesome. you're going so deep and i love it. going to start studying and testing this myself! will let you know how i go.

kraan
kraan Jun 21, 4:18 PM

Hey there Troy, can you tell me more on how to determine your risk on these plays?

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TroyMan

Took notes on your Two Tweets with Tim last night. Still swirling down the toilet down $1,400 this morning $5,400 in 3 weeks. Very encouraged by what you said, "Learning what not to do sucks but IT HELPS YOU GET TO THE NEXT LEVEL IF YOU ARE MENTALLY PREPARED, HAVE THE RIGHT ATTITUDE, AND THE RIGHT MINDSET." I'm hanging on your every word for dear life!

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