I would start by going through all or as much of Tim's materials as you can for the first month or two before making any trades. Intentionally keep your positions small for at least the first 9-12 months. Cut losses quickly if the trade goes against you. Don't worry about how you feel or what others may think - just cut losses quickly. Sometimes the price will turn around and go back up but most of the time the price will go down. Do not blindly follow anyone's trades. This goes for Tim's trade

Also, I got a lot out of reading several books such as: An American Hedge Fund by Tim, Reminiscences of a Stock Operator, The Psychology of Trading and Momo Traders. All are really good. I think they help put you in the proper mind set and understand strategies and techniques. Momo Traders interviews 10 very successful traders and it was very helpful. Let me know if you have any more questions. Hope this helps!