Hey everyone, this is my first blog post. I hope you guys enjoy my story.
I first joined Tim back in the summer of last year. I was living in my friends trailer which sparked something in me, but that's a different story altogether. I found Tim through pure chance on YouTube while looking at basic candlestick videos. I had a small account that I managed to get together using my tax returns, maybe a little over $2,000. I made the mistake of only uploading a few of my trades, but I managed to grow my account decently to a little over $3,000, because even junk was flying summer of last year. I must admit, it was most likely pure luck. Looking back now I'm surprised I didn't lose it all, because I had studied nowhere near the amount I should have been studying. I really kicked it into overdrive toward the end of the summer, studying 120 hours a week for as long as I can remember, even up to this point where I'm at now. A friend of mine offered to increase my account size to $25,000, and that grew to just under $40,000 before we were finished and parted ways early this year.
Throughout my studies before the TI Summit in 2015, I learned to trade scared. I didn't entirely know what this meant to the full extent. So for a while, I saw all these PERFECT plays, soaring up and down, but I was hesitant to get in, even though I was on the right track, and watched them run without me. This could have been in part due to the fact that I was mostly using that friends money for the account, I was scared to lose it.
My first experience watching a stock run without me was PBMD. Early one morning, I saw that PBMD was gapping up, it was just above the breakout zone at $2. I didn't know enough about premarket trading, so I couldn't buy, but if I knew how to jump in premarket, I would have bought at $2.02 at 9:27am. The market opens and PBMD instantly spikes all the way up to 4, an hour or two later the stock is at 6, and my small $2,000 account could have been doubled in just a few hours. I was hooked instantly.
I saw AQXP run from $2 to $10 all in one Friday. I hesitated buying just above $2 when it broke out. The following Monday I had an opportunity to buy premarket at $13. I thought of premarket as gambling, so I didn't jump in, and by 8am when brokers allowed premarket trading, the stock soared to $20/share. The market opens and the stock jumps to $55/share after being halted two or three times. I was dumbfounded.
A similar situation happened with the ticker KBIO, although I was short at $1.95, 1,000 shares. Everyone was short KBIO. Tim was short, Michael Goode was short, Gregg, the one and only lx21 was short. It was a beautiful short setup. Toward the end of the day, just before the market closed, KBIO jumped from 1.95 where I was short, to over $2.15 a share, where I was risking. I cut my trade, taking the $200 loss, slammed my laptop shut as the market bell rang, and went down to the garage to take a breather. When I got down into the garage, I got an alert from tim on my phone, saying KBIO is now at $9/share. "How can this be?" I thought to myself, "I just covered at $2.15!" and by the time I could get my laptop open again, KBIO is now at $18/share. The best loss I've ever taken to date, thankfully because of my studies, I knew the rules and I knew when exactly to cut my loss, because of my trading plan. A few months before, most likely this would have not been the case.
I went to the TI Summit in Las Vegas in 2015, the whole first day I sat directly next to Michael Goode in the back of the room, as you can see in my profile picture. He was working on his presentation. I didn't want to bother him, I didn't even know what to say. The only thing I could do was have him sign my nametag. I talked to Tim after he spoke on the first day, had him sign my nametag as well, he even let me take a picture of his Rolex for motivation. I told him that I had a problem with jumping into trades, I couldn't pull the trigger even though I knew the pattern. I wish I had recorded it, but he changed my life in just a couple minutes. He told me that I'm trading too big, and that if I used less size, it wouldn't be as scary. That I should trade scared, so that I'm not scared to trade. It hit me like a freight train. I don't know how this was the first time I heard that. After the conference, I had a talk with Tim's mom, and broke down in tears. I could not control myself. One man and his family have changed my entire life. Now I was there, I had the chance to explain myself and how I was going to be the next millionaire student, even if it killed me, but all I could do was tell them how much I made already in between the uncontrollable sobbing.
So after I left the Summit, a few months had passed, and I decided to part ways with my friend after growing the larger account, for various reasons, and did not upload the trades. I started again with my small $2,500 account. I knew I would have to step it up. I knew every one of Tims millionaire students would rather die than stop studying. That's what it takes. So I rewatched every DVD, as many times as I could. I started watching the video lessons, trying to watch at least one page a day. I started up a spreadsheet to keep track of my trades.
Over the next few months, I started going into trades I thought were ideal, using very small positions, NOT following alerts. My confidence grew as the trades panned out exactly how I thought. Even though I had small size and the profits were small as well, my losses were even smaller and less frequent. 10, 20, even 30% profit. I realized I had found the chart patterns that I like and am good at. I found the optimal way for me to play them based on my personality, and now all I had to do was size up. At the moment, this is where I'm at. I know for a FACT, that this is what I want to do for the rest of my life, I have spent the last year and a half studying, learning good habits, making sure that I do not mess this up. Now I finally have proven to myself that I am self sufficient and profitable, I know my ideal patterns, and now it's time to start sizing up.
Everything comes in time, and trust me, it might take longer than you think. But I promise, when all your friends are stuck at their 9-5 still, and you have a skill that you can use the rest of your life to be financially free, it will be worth it.
EVERYTHING IS WORTH IT. Stick it out, you don't have to be talented. You don't have to be super smart. You just need to have the drive, the passion to study, the right mindset, and most importantly, NEVER GIVE UP. You never know how close you are.
If you've read up to this point, thank you so much, and I cannot wait to update you guys on how I'm doing.
Josh Robey
Thank you for this post. Good reminder to trade scared. In the context of trading scared I always remember Tim saying: "If a trade isn't doing EXACTLY what you think it will, just get out, whether it's up or down."
Thats why we have risk levels, whether previous day higj or low, premarket high and low and for some they use fibonacci levels based on those same levels either way you have to trade scared and trade smart. This is why Trading Tickers is such a great DVD in my opinion because it shows Grittani and his entries and exits and shows a fair amount of his psychological hurdles.
Amazing post! I am brand new trading real money. For the past eight months I have been studying like crazy, almost obsessed like. Starting in December I will make the leap to trading real money with a small account. Your post inspired me even more to keep studying harder, and to get in the right mindset that I do not need to start with a big account. I am excited for your next blog post to come out.
Thank you for the post - it is truly inspirational - I started with losses but then built up and reached a 50-50 win-loss percentage and did the unthinkable - traded too big, became greedy even though I was making a profit and did not sell when the profit turned to loss and now my money is stuck - now all I do is study
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