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Why Trading Journals Are Just As Important As Trading Profits

Posted by timothysykes on Tue 13th of May, 2008 04:49:55 PM

Just got an email from a very satisfied PennyStocking DVD student who’s not only made the DVD’s cost back 13x times over in only a few weeks, but also done something rather interesting and I encourage you all to do the same:

Tim, just wanted to tell you that within 3 weeks of watching your DVD, twice, my $25,000 account is already up to $28,946, thanks to shorting those perfect Supernovas, VRML and VM, on which I see I did better than you! (sorry!)

I just started a public journal on ET so I’d love for your readers to come check out my thread! I know you’ve sworn to never post on ET (and after a few weeks I can see why) but I’m going to be diligent in my record keeping and hopefully help you cut through the BS that’s out there. Thank you again for everything, your speedy email replies (although not lately?1?!?) have helped immensely and I can’t imagine trading anything other than Supernovas ever again!

Sincerely,

Jeff Rogers

Now I’m all for journal keeping to help teach trading lessons (aka this blog), but instead of going to ET, I encourage you guys to post your journals HERE. Not only will I be able to reply/critique your trades, and you’ll receive TIMbucks for posting (we just signed on an Apple supplier today…full list of prizes will be unveiled next week!), but I promise you won’t have to deal with the crap that ET is known for. Just look at poor Jeff’s thread and you can see only about 2 useful posts other than his own. The rest are spent attacking me and my strategy, even though none are fact-based as they’re ore a critique of what they’ve seen of me on TV. Remember 90% of traders lose $ and they basically all congregate on ET to console each other by pretending to be making money—don’t be one of them!

PS You people making mad money off PennyStocking, please get a Flip video or something and make some video testimonials, I’ll promote them like no other!

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  • wes
    I was able to get my TOS account balance in CNEX resrved this morning.
  • bullpicks6
    EGTS announces 3-1 forward split...looks like this will go a little bit longer
  • burky
    Sykes TOS Canada doesn't allow shorts under $3. I believe you mentioned a similar rule but were able to put your order in over $3 and lower later. Just wondering how firm they were on this rule.
  • TOS has a nice log built in now.
  • jj
    did anyone play NTHH the other day?
  • will_the_thrill
    tim, you might want to put ATSI and AVNX on your radar.
  • all look pretty random to me aside from HDSN and CSGH both of which i've featured here...forget iphone trends, everyone and their mother has diff. expectations, u cant guess the time lags involved with anything more than 50-55% success
  • Jose
    Hey Tim,
    I compiled a list of some stocks that are in my radar... some look good to short, go long, play on dips and so forth.. also what do you think about playing AAPL for WWDC and the 3G iPhone? I don't think the same thing that happened at MacWorld will happen again. Let me know what you think

    IMNY
    APPL
    PBR
    CHL
    HDSN
    HCKT
    MDF
    TIK
    PDEX
    IG
    CSGH
  • codyhof
    speaking of Gordon Gekko, theres going to be a sequel to Wall Street.
    http://www.nytimes.com/2007/05/05/movies/05movi...
  • haha u guys have too much time on your hands..cnex is gonna be pretty much impossible, hence my early entrance
  • eb
    Evan...you're right! I saw Gordon Gekko's head for a split second also.
  • Evan
    Hey Tim,

    Been trying with TOS to reserve shares of CNEX for two days now. Hopefully, tomorrow morning will be different now that your shares are back in the pot- don't get me wrong, I want you to get to 25k quicker than Doc Holliday's draw so we can see your full (SEC unrestricted) potential, but if it's a question of who gets to 1.65m first, you're second on my list.

    Here's a very noteworthy observation (maybe even worthy of a Timbuck or two). If you watch closely at your TIMBUCKS ad on the right, there's a scene from Wall Street with your head on it. Sadly, I've watched it over and over like a goon because you can actually see Gordon Gekko's head for a split second before it changes.
  • Dan
    Tim, what do you think about MVBY I think its any easy double from here.
  • jj
    i posted a question on the level II's in the q&a section this afternoon. tim - you just need 1 hr. of sleep a day...come on.
  • eb
    You're awesome Tim thanks!
  • on my to do list
  • eb
    Tim when will you be posting information on how you use Level II quotes? Because Ive been keeping up with your posts, I seriously feel that my chart reading has gotten tremendously better! I want to learn more about how you use the Level II quotes to your advantage. Thanks.
  • eb
    Jibri...I switched over from Scottrade. The customer service there is very good, but their trading platform isnt the best. Scottrade is good for buying and holding. Ive had TOS for a couple months now and their platform is awesome and their customer service is topnotch. Im happy I switched over.
  • exactly, there will be little to no trash talking here, haters are welcome, but they gotta back up their junk or get blocked
  • jj
    after reading through Jeff's et posts...i like the idea but hate all the trash talk on it. if it was exactly what Jeff has asked for and to leave it just as a trading journal only w. lessons of good bad, I think it would warrent more success...but making anything public means you're going to have a fair share of trash talkers...who just don't get it. it makes it too frustrating to look through to get to the lesson. I'll watch to see how it plays out but if it's anything like the first 5 pages of posts...i'm going to pass.
  • jj
    TOS was cool. I had to email them and was able to have the flag removed. Perhaps b/c I used TIM as my referral....i'll have to check out this whole et thing. I do agree trading journal should help us all.
  • Jibri
    How do you chat now on this site, mine is not showing up. And under read this damit tab, the links dont work.
  • Jibri
    Hey were are my Tim bucks?
  • Jibri
    Scottrade is ok but the $5 cap off shorting stocks suck. I'm working researching TOS and other brokers. I'm missing money, nthh was going to be my first short Monday and I missed. Oh well there will be more. I've set my on rules, I just need at least 100k of this.
  • YngvaiMalmsteve
    I agree that we should posting our experiences on the forums. There won't be all the ET crap, and it will help all of us in our mutual goals.

    By the way, I just posted there about some potential beginning breakouts...might be potential buys
  • u shoulda gotten it by now, i'll check on the tracking number and email u
  • folding
    Very cool. I ordered the DVD one week ago, how long does it usually take to arrive? I am really looking forward to it.
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