Sorry for not sending this video lesson from yesterday until just a few minutes ago...friggin West Coast timezone makes me into a walking zombie...below is today's correct video lesson:
Just some important words before you watch these video lessons...it's easy to judge trades in hindsight as good or bad, but in the moment all I can do is try to follow my rules and patterns and indicators and give you guys the best possible alerts.
Some people think I enjoy buying MEDL, watching it spike for a few minutes/hours then selling and that's absolute BS...my detractors forget that the majority of my income comes from students and I'm not ashamed of that I'm proud...because unlike crappy free penny stock newsletters, if you're not happy with my trading, lessons, strategy you cancel and stop paying...that's not what I want, I want maximum education and maximum dedicated students so it's in my best interest to give good alerts, good video lessons and when I make 1-2-5% on trades I understand that's not inspiring, that's not useful to you as students or subscribers and so my goal is NEVER to make so little, I try to find setups with a huge amount of upside (when long) or downside (when short)
I bought MEDL after some initial strength (no, I did not buy at the market open, I was encouraged others were buying it first) and thinking their Facebook deal rumors might spread...had it spiked all day I would've been hailed as a genius (like my IMI watchlist buy signal in the $2.60s before it spiked to the $3.40s)...but it didn't and boo hoo the stock dropped 1/2 of a penny/share from my entry price...I sold for a lousy 2 cents/share gain and only those who ignore my rules about chasing (don't) or not cutting losses quickly (don't) are unhappy...and when you break my hardfought time-tested rules, guess what you SHOULD be unhappy...now you've learned to respect them.
That said I NAILED IMI's morning spike in my watchlist yesterday and I'm so very proud of so many traders who bought in...today we got zilch so again rule #1 comes into play: cut losses quickly.
EONC was a great trade all around by me as you'll see in this video lesson.
If you have quesitons about my strategy/business, please ask...don't make ill-researched assumptions:
@reverse21 today's your lucky day, ask away...and be sure to google my name along with any question since I have 8,000+ blog posts which answer everything u could possibly think of
@reverse21 good question it all comes down to discipline & following the rules...if u let big losses pile up, your confidence goes to zip and u become desperate...if u cut losses quickly, have made trades every now and then like i did with IMI, its fine as theres always new good trades on the horizon
I really liked the alert about EONC when you said you're watching it for a short. I really hope you'll keep us updated like you did today with stocks you are watching and might potentially trade.
One thing I have learned in only a month is that a trader picks their own trade, with your own rules and your own responsibility. After all the profits are yours and the losses are yours. Cuts both ways. Love what your doing Tim! Your experience has been an avalanche of a learning curve to me; and it is much appreciated for the opportunity you give for others to learn to be a stock operator. Relishing it all Sir Timothy
EONC is what I refer to as a short-lived short squeeze. If you were watching level II, you could tell that the bid was still strong when Tim said he was look at it around 4.30s. Remember, it is better to wait it out and miss out on an entry/money then jump in to early to be in it and lose your ass.
good shit tim !!
Q regarding AH trades. Is it generally (barring any negative overnight news/catalyst) a higher odds trade to hold a stock o/n that closes much higher in AH than it did in regular session? Say it closed .40 cents higher in AH at the AH HOD would this in your experience have a greater % of gapping up PM and possibly holding the gains to spike up at open vs. a stock that closes AH up maybe 1-3 cents higher than regular session?
@momentum858 yup the more active/the more its up AH the better odds of it spiking the next day
@timothysykes Your Harvard talk was really inspirational and motivational... Do u plan on adding more options and features here on Profitly any time soon?
@Trade2Travel thanks! of course, working on some great new profitly features, we're only 1/8th done with my vision
Once again, you had us rolling, Master Tim. You leave for a couple hours and the tales grow taller on down the line! And that's why I'm not bullshitting in chat. I'd rather be making money. Thanks for SUMR, BTW. What a beautiful short!
Tim. You decided to hold IMI o/n as it held the support very well. But it did not close strongly. Do u think its the reason for it to gap down today.
I'm very excited to get started in my education Tim - just signed up today for your newsletter. Still waiting for SureTrader to give me my password/credit my account with my transfer...Tnx, Al
@somusundaram uhhh IMI did finish strongly
Tim I was bitter before tbh. not making up shit lol just was a bit skeptical with some of your quick buy then sell alerts but I've obviously come to realize why that happens sometimes. At the end of the day you do more than anyone to try and teach people how and why you trade with constant video lessons, not just 1 or 2 a week. Your setups are golden and your intentions are outstanding. I hope to trade side by side with you some day.
@Tredstone The "quick" buy/sell alerts are invaluable practice for making your own decisions and not merely mirroring Master Tim. Generally, if I can't fill W/I $.08 of the alert, I won't.
Great video lesson Tim! Haters are going to hate, just keep on showing them!!
I'm looking forward to the new webinar setup, haven't been able to participate during the live webinars because day to day conflicts, but I make time to watch them along with the DVD's and video lessons. I've only been trading this strategy for a few months and I'm up a little over 11% on a $10,000 account essentially using reverse margin because of the $2.50 rule. My account is up 11% while at the same time I'm only putting roughly 10% of my overall capital at work.
Thanks for the info, Tim. I've got to say, that I really appreciate your teaching and simple strategies. I just find myself getting lost in the details and I'm sure I'm not alone. I was going to take your breakout strategy and use it for multi-day trades, but that is not working out so far. As you could tell from my trades. Been studying for a while now and am just trying to put all the pieces together. I'm gonna power through.
@timothysykes The only thing I find annoying about profit.ly is that I have to keep pressing back or forward several times to get to a specific video lesson in the archives. It would be easier to navigate through the archives of video lessons if I could simply type the page number and then continue watching from where I left off, rather then having to hit show 25 lessons and then scroll 10 pages to get back to the lesson I was on. I know it's trivial but I like getting to the lessons ASAP.
Hello guys, from what I learn from trading last couple of months, and I quote a famous trader " Trade the Ticker, Not the Company". I hope this sticks in your heads.
@PatrickBateman47 Here is the shortcut to video lessons: page=4&size=25 For efficiency put the page filter on 25 then all you have to do is put in a 1,2,10,20 etc for the page= function allowing you to navigate video lessons much quicker
@momentum858 Thanks
I learn a lot everyday from your video lessons, and I think on my feet when entering trades. Hope to grow my account quickly to become one of your challenge students soon. At this point do not have enough to pay the tuition. I am working hard studying all the video lessons and your DVDs. Thank you.
In this lesson I learned that stocks don't maintain the spikes after a short squeeze. Perfect time to short. Thanks Tim
Interesting, i literally just listened to this exact same rant on video lessons 34&35 (trying to watch all of them from the beginning now that I've finished all DVDs)). It's a shame that this has to be repeated, but until everyone gets it, it's going to keep coming up as new people join the community. Thanks for what you do, Tim. Rest assured that the non-vocal majority of subs do understand this concept.
Hey Tim, interested to hopefully get your thoughts on why EONC topped so close to 5. I don't see any real resistance at exactly 5 on the chart. I see some between 4.80s and 5.10s, but no real resistance level. So do you think it ran out around 5 just because 5 is an even number, or were you short in the 4.70s knowing that the 4.80-5.10 resistance level(s) were coming up, or was it all speculative? thanks a lot, hopefully you respond to this post.
Tim,love how you explain each stock story in the end of the day, this is why i subscribe with you :D realtime actions/anticipation from top trader on earth, i dont follow your alert 100% but learning WHY you take that decision. The important lessons from you is how your behaviour to search opportunity by learning the chart story. Thank u so much for ur time creating these trading reviews and keep up the good work. *your student* ps: how bout SUMR? it have one red day after spiking several days
Tim you rant way too much. It's like every video lesson is just another advertisement. We're allready your subcribers, it's no need. Keep it concise and precise. Most videos are 15 minutes, but if you had planned what to say it could have been 5 minutes.
@Pierre Hey, there is some sound constructive criticism. @Tim thanks for the first vid. Second vid was understood when you made the initial alerts.
Tim, Like you always state"LET THE HATERS HATE" You are an inspiration to all of your HONEST students...I thank you for your commitment to all of us.We should be thankful.Thank you for your mentorship
Thanks
Good comments Tim. Thanks
x
watched!
watched
Good lessons
great videos
"This if form the twos, with no news..."
admit when you're wrong and cut losses quickly. The ego is your enemigo LOL
add long into weakness and add short into strength
TY Tim
Nice video on $MEDL failed spike and $EONC failing to continue the next day by gapping down. When a stock doesn't do what you want you get out immediately and not sticking around. Even if you hold and hope and sell for profit or smaller loss that is teaching the wrong lesson. One day the stock may not bounce and you will lose $1 instead of $.10 per share.
great
Swell
Love ya Tim~
thank you Tim
Thanks
watched and learning.
Lessons 1781-1785: (5/20/14) Thanks Tim, great material.
thank you
Thanks Tim For Taking The Time!
Thanks Tim. I don't care about rumours or lies about you and your teachings. I watched a few thousands video lessons and I know you're a very dedicated and hard working guy who wants to create more millionaires.
#FutureMillionaire
watched
none
+
cut losses quickly! play the odds, ask decisively!
Awesome! Thanks Tim!
Videos watched. Thanks Tim.
Thanks Tim great lesson
Thanks Tim
Watched. Thanks!
ha. fast forward 6 years. he is more richer and more millionaire student
Thank You Tim!!
Thankyou Tim for the lesson.
good
Thank you Tim.
Yesterdays high should have some support, former runner, can squeeze on no news, it's okay to be wrong if you cut losses quickly, where is support and what your entry price should be, Thanks Tim!
Thank you Tim.
2nd watch
Join now or log in to leave a comment