Hey guys,

My last blog post was about my first trade on Billionaire Play $VVUS and in this blog post I want to talk about my 1st month of trading and the lessons i have learned.

1. The biggest lesson i have learned is to be PATIENT and to wait for great trades to come to you. In this bear market it is necessary to stick to the best setups. For now i am sticking with Earnings Winners.

2. Use Tim's Alerts wisely. If i have a potential trade in mind and i don't click the trigger i feel bad when the stock does exactly what i want without me. However i feel even worse when Tim gets in the trade. So what happens is I buy straightaway without a plan because i feel reassured that Tim has got in the trade that i had planned on getting in earlier. The result is i get in at worse prices and get out at even worse prices. The lesson here is to use Tim's Alerts as a guideline and a lesson for future trades.

3. Have a target in mind before you get in a trade and if the stock hits your target price just get out and take your profit no matter how small it is. I make this mistake because i get greedy. I see Tim make big $$$ and i feel like shit because I'm up only $25. I should take what i get. I must think of this experience as a journey. The lesson here is to not get GREEDY and focus on the overall goal.

 

I know many of you have heard Tim say this hundreds of times but i find that unless i experience these lessons myself it is hard to learn from them. I also learn better when i can express. I hope this helps.\

 

Jeff Howard (teentrader)