Well fellow traders another weekend is upon us, will you be studying?

There is a plethora of information pertaining to trading low priced stocks and countless  numbers of guru's offering to show you their secrets to making money.

So as a newbie what do you do.  Many will try the easy way and subscribe to someones pick list that just about guarantee's winning trades if you enter and exit exactly at the same time as they do but of course that doesn't work because alerts are always lagging

You can try watching YouTube videos but then everyone tells you that they will show you a sure fire strategy to trade stocks and make lots of money, but didn't mention that after you are done watching hours of videos in order to get their super secret strategy you will have to sign up for their premium subscription on their web site.

Again what is a newbie to do?

The Sykes mantra is educating yourself by studying studying and then more studying.  But what do you study.  There are break outs and break downs, trend continuation, trend pull backs, panic dips and the almighty super nova.

There are MA's, RSI, Bollinger Bands, Fibonacci retracements, support and resistance levels and they go on and on and on. So what do you study?

I like to study the charts and how they are feeling on the day I want to trade.  Was the stock joyful on the day it went super nova yet sad when it tanked to the basement. Was it feeling melancholy when it went sideways for days on end.  Each ticker has it's own personality and temperament.

There is no absolute way to know with above average certainty which way a ticker will move, up or down or sideways.  We do our best to predict the direction by doing our due diligence, getting a sense of how it is feeling on the day I want to make a trade.

I only use two indicators on my charts, time and historical price action.  I will review the fib levels in a way to confirm my analysis.

So back to what should a newbie study, in my opinion and it's just my opinion a newbie should watch the Sykes videos available on profit-ly but don't just watch the video, pull up the exact chart and time frame he is talking about and walk yourself through the motions as he is explaining it.

For inspiration and motivation watch Sykes YouTube videos, at times we all need a little boost to keep us going or we might get stuck in a slump of self pity.

If you can afford it purchase his premium videos, yes they might be expensive but once you have one you can watch it over and over.  Do use them as learning tools, don't just watch them, actually work with them.  Try to find stocks that have had the patterns he talks about and then find another, historically of course.  Train your eyes to see the patterns.

Purchase his recommended books, I actually buy the hard copy, kindle and if it's available the audio versions.  Immerse yourself in learning all you possibly can.

Utilize the watch list that other members post, as I mentioned before it takes time to find the stocks that are posted, one way of using the posted list is to find the tickers that are repeated on different postings.  Work up a plan for the next trading day and if possible watch the opening of the markets.

Read posted blogs here on profit-ly you might find another trader that has or is experiencing a similar situation you are dealing with. 

Sykes post a lot on twitter so if you don't already have a twitter account get one and follow Sykes.

Set real goals for yourself and strive to achieve them, we all are here to make money but what is your real deep seeded reason for wanting to become a profitable trader, what is your end goal besides a boat load of money.

In the end try to have fun doing this trading thing.