First blog post as a Challenge Student

 

My name is Marius and im 31 years old.

I run a company with 11 employees and generally have way to much to do.

Stocks has always interested me and i have tried daytrading a couple of times before in a very small degree with only losses.

 

Ive been following Tim Sykes instagram account for over 3 years and he has been a really good motivation for me to get in the Penny Stocks game - I like to live the good life!

 

I was accepted as a challenge student in the end of January 2017 after the phone interview ect and imedietly started studying.

 

I struggled abit in the start with opening a broker account but ended up eventually on Alliance Trading and deposited 5000$.

In the start i didn't know a #¤%&/() thing about the penny stocks game - i lost so much on the executions of the orders, understanding the level 2 and so on - i should have played with paper trading before entering with real money - but i dont get the same mental impressions dealing without the money aspect.

Just some days after my account was funded i quickly understood that i needed Stocks To Trade so i started playing with that as I understood a little more of the market.

When i got all the books and DVDS i was truly overwhelded - there has been ALOT of times i wanted to just quit the whole challenge - there was just so much to learn in the start and it truly felt overwelming.

The first month i have OVERTRADED and chased the stocks and being a slave to the market - ive just been trading way too much and that has been bad - i just recently understood how the rates of the trading was calculated and so on.

With stocks to trade I really thought ive found a strategy for easy money - i watched the oracle and bought the predicted stocks early PM and sold into morning spike - this worked good for a couple of days until i really took my first big 1500$loss on $SINO after the toxic financing - I Had bought WAY to many shares and didnt cut my losses the first day when i say the stock was fading down - I didnt wanna take a 400 $ loss on the first day to only let the market give me a BIG lesson the next day ending up loosing over $1500 ... 

I used alot of time analyzing this play - asking questions in the forum and generally trying to figure out everything on what just happened with the stock. 

I ended up chasing $SINO on a few trades the days after also until I Realized that this isn't the way to make money - I can't marry a stock and definitly not chasing them sitting by the computer slaving to the monitor - this just isnt the way..

 

In the first month ive watched all the webinars and the daily videos that Tim, Dux and Crooke puts out and they have helped me enourmously and i have also read An American Hedge Fund and watched the Pennystocking, Pennystocking Part Deux, New Rules Of Pennystocking, Timline, Timtactics, Shortstocking and just finished the Learn Level 2 dvd last night ..

I've proberbly used 9-10 hours each day of my first month on studying and I have finally started figuring out what Penny stocking is about but i have ALOT more to learn and will continue to study hard.

Status for my first month is:

Trades: 332 - This is just redicously much trading...

Loss of 3396,63 dollars - I have lost 2024,57 $ on commisions and trade fees to Alliance trading and 1372,07 $ on the trading - this is NOT good.

 

Summary:

Really learned alot the first month - should have learned things before starting with real money - this has cost me alot and some really dumb trades that I have lost alot on.

The last days i have started to really seeing what support levels are and getting a good risk \ ratio on my trades - I understand the market a whole lot better and I Think that i now somewhat know alot more of what im doing.

Im also not a slave to the market any more - I use my STT watchlist for morning dips wich i buy into with good support and sell into the strong market. 

 

I also watch for shorting big plays and use alot of time researching the market for good plays.

I don't want to deposit more money in my trading account yet - I want to learn more and start getting profitable with my 1600 $ that i have left.

I really want to thank Tim and the Challenge and for all the good help on the Forum (wich is truly great) - I truly belive that penny stocks is profitable if you learn to cut losses quickly and play the market correctly wich is really hard - My ego is the biggest problem but I have learned the hard way and took some big losses wich has corrected my style alot..

If anyone of you have any suggestions or feedback - feel free to comment! 

 

Thank you! =)