crazyromanSep 06, 18 11:49 AM
What the hell Tim? We r supposed to learn from you, not the other way around.
-$330 Loss
CVMLong Stock
Entry comments: Dip bought this high flier, 50 cents/share off its highs, didn't mean to go so big, but goal is to make 25-50 cents/share on the bounce, midday is tough, stupid big size my bad
Exit comments: Sold in so many little bits, lost roughly $300, terrible risk management in terms of size and entry, will do video lesson this coming weekend as there's a LOT to be learned form this, still managed to minimize overall losses which was the only good thing I did here
Newsletters:TimChallengeTimAlertsPennystocking SilverMillionaire Masters Program
Broker:Interactive Brokers
Join Now
Position Updates
- Sep 06, 18 11:37 AM: Bought 15000 at 3.87 - Dip bought this high flier, 50 cents/share off its highs, didn't mean to go so big, but goal is to make 25-50 cents/share on the bounce, midday is tough, stupid big size my bad
- Sep 06, 18 11:47 AM: Added 7000 at 3.54 - Averaging down like a true junkie midday, breaking all my rules, learn from my BS
- Sep 06, 18 11:55 AM: Sold 22000 at 3.74 - Sold in so many little bits, lost roughly $300, terrible risk management in terms of size and entry, will do video lesson this coming weekend as there's a LOT to be learned form this, still managed to minimize overall losses which was the only good thing I did here
| Date | Price | |
|---|---|---|
| Entry | 9/6/2018 | 3.765 |
| Exit | 9/6/2018 | 3.75 |
- Total Views1,305
- Position Size22,000
- Percentage-0.4%
Copy and paste the following into your page or blog. If using WordPress, you must paste this in the HTML tab only:
GoshdarnitTradeSep 06, 18 11:50 AM
Thanks for being truthful!
vincentakSep 06, 18 11:50 AM
Love you Tim! Knowledgeable, honest and honorable lol thanks for teaching me so much.
vincentakSep 06, 18 11:54 AM
@crazyroman you are learning from his mistakes and he is being honest about it, unlike all those furus out there
1
DupaSep 06, 18 11:58 AM
No, good lesson coming up. Can't wait.... You can learn more on mistakes plus shows what not to do. Thanks again Tim!
2
chrisarmadaSep 06, 18 12:00 PM
Glad I stuck to your other rule, don't follow someone else's trades :P I got really nervous for you with such a large position in midday trading and even more so when you averaged down (which may have helped you in the end). I made the mistake of averaging down on a trade and lost just under half my account (yay being a dumb newbie!). I will NEVER do that again. I now cut losses if I ever contemplate averaging down.
kaleamar77Sep 06, 18 12:01 PM
my 1st trade with Tim and its a loss. yay. Thanks Tim
MAParm47ASep 06, 18 12:03 PM
Do you find you tend to do a "standard" size in your position out of habit?
LHowellSep 06, 18 12:42 PM
Thank you for posting this!!! It interupted my study schedule to watch it unfold for you, but the lesson was perfect. For those who are crying foul, I like to call the "Never Follow Anyone into a Trade Rule" - Rule #2 - Never follow!
nazfilSep 06, 18 12:43 PM
Wow..I love the way you minimized overall losses, this is a great lesson. We have many video lessons about successful dipbuys but none about minimizing losses other than cut losses quick. You lost some money on this trade but we learned something new from it. Would you please do some video lessons how to minimize overall losses. Thanks Tim,
kvmcphailSep 06, 18 1:32 PM
KWatsonSep 06, 18 5:21 PM
Thanks for you honesty. Reviewing rules again and again....
crazyromanSep 06, 18 10:40 PM
I was just trying to be funny
MAParm47ASep 07, 18 9:01 AM
We got that....a little bit of tongue-in-cheek humor. @crazyroman
LavishandProsperousMar 09, 19 7:01 PM
Crazy watching this supernova roll over and you averaging down lmaoo. Beautiful chart like BPTH Tim :)
