…about my transparency, ability and the ability of others’ to profit legally and continuously from penny stock volatility.
See this comment from a dubious reader:
Tim,
Firstly, please don’t take offense. I have nothing for or against you either way, I am simply expressing why a rational actor who has no reason to trust you (odds are we’re strangers, after all) cannot be convinced by any of the information on your site.
The fact that you don’t announce the positions you’re taking ahead of time makes it difficult to believe the record above. There’s nothing really transparent about it. Why can’t I open up a blog of my own and at the end of each trading day, identify a stock, develop a rationale for why it moved the way it did, and say I shorted/longed it to make a small profit? I could even occasionally screw up and lament about my shortcomings just to make it even more realistic.
The private subscription only stock picker mailing list? Let me tell you about a well known con.
The Yankees and The Mets go into the World Series. I have a mailing list of a million people. I email half of those people and say The Yankees will win game 1, and the other that The Mets will win game
1. Lets say The Yankees win, fine. I will now contact the half million people who I told that The Yankees would win and tell half of THEM (250,000) that The Yankees will win game 2, and the other half (also 250,000) that The Mets will win game 2.
Repeat this process a few more times. Eventually there’ll be a small enough group left (either 125,000 or 62,500 or 31,250 or 15,625) who believe you have some amazing predictive power, and you simply sell that group the outcome of Game 4 (or 5, or 6, or 7) the outcome for $500.
The way you “could be” running this same con is by emailing half of your list a rationale for why you’re shorting one stock, and the other half a rationale why you’re going long on it, and then if you find that you’re right a few times a row for a small group of people, they’ll have a great testimonial and say you’re a genius.
It doesn’t really matter if you address these concerns or not. I suspect many people will read this post and still end up subscribing because they want to believe. Your transparency convinces them.
But it’s not going to convince me.
Best.
Allow me to dominate these concerns one by one:
1. I send out the same alerts/emails to all my TIMalert subscribers, each subscriber gets access to the TIMalerts.com website which has a daily blog conversation, usually with 50-100 comments…the chatroom will be up by tomorrow morning.
2. I’m not even that great a trader, TIMalerts are just information of when I’m trading. In no way shape or form should anybody follow me–just learn from my successes and failures, just as I preach in my Pennystocking and all-new ShortStocking DVDs.
3. My morning watchlists aim to cover ALL potential trade candidates and I descirbe what I’m looking for price-action-wise in order to get me to trade.
4. I don’t pay for testimonials, my site’s popularity is due tot he fact that real people are making real profits. Look at the Covestor leaderboard, I’ve got one dozen+ students up there and that website taps into people’s accounts to verify their trading.
5. Most importantly, I lay out all my trading strategies in my PennyStocking and brand-new ShortStocking instructional DVDs. This ain’t rocket science, you can anticipate my trades and there’s nothing more than I’d like for you to do better than me.
6. I answer all questions/emails (although we keep moving servers so some get lost, sorry)…I want you to understand how I see the market!
7. Do me a favor and learn WTF Covestor is. You can see my profile HERE, as it verifies all my trades. It’s absolutely pathetic that nobody’s been able to dethrone me from the top spot for very long, but welcome to this joke of an industry. So much BS to cut through, it’s gonna take me years, if not decades.
In short, I cut through the industry BS, as I have the patience/determination to respond to ill-researched comments like the one above.
By BS, I’m talking about 95% of internet posters saying they’re banking and yet we know from too many academic studies that 90-95% of traders lose money.
We know most people don’t use their real names, I do.
We know most trading teachers don’t show their track record–mostly cuz they’re not traders, they’re frauds, liars and marketers. (Hence the reason why most traders lose $, they’re not getting taught the proper variables.
Posted in Basics, Cool Products, Haters, idiots, Patience