I want to start this and say I appreciate everything Tim and his team is doing. Yes there's so much hate and negativity out there towards Tim and penny stocks, but I have never been apart of a team where the coach is nice while in the game. Outside of the game, the coach is great, kind and caring. But during the game and during practice, his attention is on his players and the game and taking every opportunity to get better and to win when it matters.
I started trading and following Tim Sykes towards the end of 2020 I believe. I had some big wins as a new trader and I had some small losses. So from the get go, I thought this is easy. I won big, big meaning my first trade with Tim was a $600 profit. It seemed easy. I knew no better and cutting losses quickly was easy. I hadn't experienced the market yet or a losing trade really.
Long story short, I had done some investigating and research on a stock called $SFOR. It's a digital company who has blockchain patents, device encryption software, and their pride and joy, "Safe V-Chat" which earlier 2022 was changed to "Zerify".
My first trade on $SFOR was a Tim chatroom follow. People were talking about holding it over the weekend. So I swung it. In fact, my dad piggy backed my trade and I made $700 holding over the weekend and my dad made $70. Again in my head this was EASY!
A few days later, I bought shares of $SFOR on what I thought was a dip. I didn't know what a proper dip was or how far a pump and dump will come down. And here starts the hole I dug.
Over time, as the price went down, I added cash to my trading account to buy more $SFOR to lower my average hoping that I can sell for break even. Well after adding up to about $6000 to my trading account, I manage to invest all of that into $SFOR to try and lower my average. I held the stock for over 1.5 years hoping that it'd bounce back. And there were a few small spikes to where I'd get out with a $1,000 loss. That wasn't good enough. I wanted break even, HELL, I wanted a profit. So I held.
Well it came back down off those small spikes and I was down $4000, give or take.
Fast forward to early 2022, I started truck driving. I was watching all these plays play out that Tim and other students would post and I couldn't play them because I was holding one stock that had all my money. I said to myself I need to study, no more playing this hold and hope game and so I started religiously watching Tim's videos.
I ended up in June, 2022 selling my $SFOR position for a $4500 or so loss after watching Tim's interview with Jack Kellogg. In that interview, Jack literally looked into the camera and was like, I dont care if your holding a bag taking a loss. Your missing out on so much. It doesn't matter if your at a loss, sell your position and start over. CUT YOUR LOSS!
I felt like he was talking to me personally. I immediately logged into my etrade account and i sold my position at whatever price it was at. No questions asked.
So now here we are, I'm trying so hard to follow Tim's rules. I'm cutting my losses. After that whole ordeal, my account was no longer a margin account so now, I can only trade with whatever cash is available, so if i trade, and I sell my position, I have to wait 2 days for the cash to be available to trade again. I dont get 3 day trades. So, I'm cutting losses as quick as i can, I'm taking smaller positions. I'm no longer feeling stressed because im over sized for the trades. and I'm startoing to be more right on my trades because i'm now building watch lists, and doing my research.
I'm a truck driver, I'm away from home a week at a time putting in 70-90 hour work weeks. While I drive, I have Tim's "HOW TO MAKE MILLIONS" DVD playing. Although I'm not watching it as I'm driving, I do glance at the screen and I listen to his words. I watch his video lessons too and look forward to his daily recaps.
AND it's paying off. Today I traded $APLD and made a very solid $200+ profit. I was alertiong the chat room of what I was seeing, my entry and exit and guess what? TIM fucking congratulated me and a few others on our solid trading. TIM FUCKING RECOGNIZED ME! You know how gr3eat of a feeling that was? I couldn't trade any more anyways that day because the set up was good and I used my whole account on the trade with a small risk, but I didn't feel stressed because I was confident in the chart and what I was trading.
But I just want to be open about my trading. I want everyone to see my trades, good and bad.
Thank you if your reading this. Hopefully I can inspire you. I hope someday I'm one of Tim's top students that you all look up to.
Thanks for sharing! Keep it Up!!
@timothysykes Thank you. I'm turning a page right now and starting a new chapter. Writing things down helps me remember.
Tough learning curve you went through, hope you learned and never have to experience that again. Cut losses quickly, never hold and hope, focus on the sykes sliding scale before every trade, prepare, prepare, prepare before every trade. Stick to your plan. Plan the trade then trade the plan, that is all you can do. Whether it is a win or a loss, learn from it and don't let losses screw with your head, they are your best learning tools. Use them to your advantage. which is why it is important to
@timothysykes joined your challenge a week ago after right after you commented. This is everything to me. Ive watched about 25+ hours, how to make millions, pennystocking and part duex, half way through new rules of pennystocking and almost done with the bootcamp. Joining the challenge gave me the keys to the kingdom and you bet your ass im going to take advantage of it. One day ill be out of this semi truck and ill actually have a life
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