The introductions to his DVDs are most definitely improving, this one comes right at you and kicks it off into who, what, where, when, why, and how to trade these penny stocks. It’s really important when jumping in head first to understand what your role is as a trader. You’re either an investor or a trader and when transformed (aka trader gone investor/bagholder because you didn’t take a loss when you should have) is when you run into trouble. As Tim mentions a million times you need to be ok with taking losses, it’s part of trading. One thing you’ll notice after trading for a few years is any “bad” days or “bad” trades that you may encounter are normally always associated with breaking a rule of some sort. Looking back as always like Tim did you can always pinpoint exactly where and when you should have sold/covered to cut losses (beauty of hindsight). The biggest part of this is being able to overcome the “loss” and focusing your attention towards the next opportunity rather than turning your trading strategy into “hope” and hoping your loss turns into a gain!
It’s a hard concept for many people to understand (especially or more humorously the idiot’s on the COIN and DDRX message boards who still think Tim is short when a stock goes up three weeks later) who don’t understand that we as traders are taking advantage of opportunities (over extensions) over one day and many times not even that long, perhaps one hour.
Whether its an over reaction to the upside or a stock coming off bottoms gearing towards break out — that’s THE move we are looking for. If the stock drops another 50% over the next 1-2 weeks or doubles in the next two days that’s part of the game, I don’t care. Sure, profits get left on the table (daily) but more importantly losses are controlled.
As I’ve said in InvestorsUnderground seminars you can blindly following someone that is batting better than average and has solid gains (like Tim or any good trader in the chat ) and you’ll potentially have equi-successful gains/losses relative to the money at risk BUT what good does that do for you if that’s all you know how to do and don’t understand anything more than pushing the button? What happens if Tim is out riding a camel in Egypt and you see the set ups he’s talked about in his watch list but because you’re too lazy to research on your own/do some homework you’ve missed out on serious potential gains. If you only have enough confidence to trade when you receive an email saying “Short XYZ at X Price” or “Covered XYZ at X Price” and won’t pull the trigger otherwise you’ve got a lot to learn! It’s not a strategy! You need to understand what you are doing and why you are doing it. This is why you have to understand the strategy behind the actual trade. This is what TimFundamentals does and our seminars (had to plug it…) teaching you beyond just a “buy now” or “sell now” approach. Finding out where and how to find the information and stocks of interest is one thing — walking through setting up a watch list adding and learning the difference between one that makes it vs. one that doesn’t is a very valuable lesson. Tim lays it ALL OUT THERE outlining every single website he uses on a daily basis to find the stocks of interest for the following days/week.
I found the most useful part of TimFundamentals is going through the monthly, weekly, and 10 day charts with him on his watch list which allows you to see the areas of interest for shorting/buying. This is the MOST important part is to understand from a technical perspective in my eyes because its exactly what I do on a daily basis for my scans. I take a look at the 3 month resistance and if I don’t see it right away I scroll back to 6 months. Secondly I focus on mid or even dollar marks for next areas of interest and so on and so forth. I focus mainly on stocks IN PLAY with a daily range that I feel I can profit from.
The second important lesson I picked up on right away is again something I focus on … former runners. When you play in penny stocks over the years you’ll notice that many of the same tickers come back around time and time again. You remember how they act and react. You remember every time XYZ runs it usually has a huge second and third day move before giving back all gains on the 4th day. Tim talks about sector stocks and the importance of knowing the leader and the lager (you can watch to find why) but over time these things become second nature. For example in the DVD when he starts firing off energy/oil stocks that stemmed from his PDO idea and that led to MXC, FPP, ROYL etc etc. when you see one on scan it makes you check the others that you know run at the same time. Watch his DVD’s, do some scans on a daily basis, see if you come up with the same tickers – test what you learn from the DVDs on your own scans and just like I’ve mentioned at InvestorsUnderground once you understand why your shorting and not “just because its up” Tim’s alerts and watch list will take on a whole new meaning and become much more beneficial to you.
Cons: WTF Tim go to bed! (He video taped this from 1AM to 5AM) As he said in the DVD normally he doesn’t take this long on watch list he did an extremely thorough job to take you through all of the ins and outs when creating the list. Spending as much time as he does on the watch list might be a bit discouraging to many if this is the first DVD you watch but again that’s the advantage of Timalerts where you can read/review 20 tickers in 10 minutes and be prepared for the day vs. screening yourself for 3 to 5 hours.
Pros: Summarizing what I said above its extremely beneficial to understand where the plays are coming from and why you’re either buying or shorting beyond an e-mail alert. This will aid you in becoming a better trader over time. Additionally you’ll begin to recall different tickers reactions which may give you other trading ideas that don’t pop up on scan right away. Taking each chart one by one from a technical perspective like Tim does is exactly what I do on a daily basis with my scans and apply them to the chat room, Tim takes it a step further on a fundamental basis which is just adds another weapon to the arsenal. Doing the homework like shown on this DVD allows you to quickly scan the markets intraday and as soon as that move you’re looking for happens, you’re already ahead of the game and ready to pull the trigger.
Hi Traders,
I have all these courses, and many other: Trading Tickers, Timothy Sykes, Warrior Pro, Steven Dux , Roland Wolf etc.
Please contact me to - induskalt on gmail
Bookmarks