Michael Goode On The Perils Of Scalping

November 14, 2008 at 4:18 pm by Timothy Sykes

Watch these 7 free video lessons on how I became a millionaire

Great guest post by Michael Goode, one of the few TIMalerts lifetime members, who is now up over $47,000 using my Pennystocking strategy/TIMalert picks:

If you have been reading Timothy Sykes’ blog for a while, then you know that he encourages his followers not to scalp. What is scalping? It is very fast intraday trading, trying to profit from small moves, usually in momentum stocks. The average profit on a trade of a scalper, even a good one, may be under 1%. While those profits can add up, scalping has many downsides which I describe below.

Since I started following Timothy Sykes and became a fulltime day trader I have tried to diversify my trading strategies to include certain kinds of scalping. I have done well. In my trade journal (a huge Excel file where I track every single trade I make; you are keeping a trade journal as well, right?) it shows that I have made $3700 (weighted average profit of 2.1% per trade) trading in a style similar to Muddy of Green on the Screen fame. I have also made about $18,500 (weighted average profit of 1.8%) by trading the aptly named “random trading” style, which includes a significant amount of scalping.

While I have made money by scalping, it has caused me much stress and the constant trading has also helped to damage my right wrist, making it difficult and painful for me to do much of anything right now. My wrist will eventually heal if I give it enough rest. In order to rest it with out ceasing to trade, I am looking to get four touchscreen monitors so that I will not have to use the mouse as much (I’m already using voice control for many functions on the computer but cannot use that to trade).

I’m looking at monitors from Planar Systems (a penny stock– PLNR) and Elo Touch Systems. If you have any recommendations for a brand of touchscreen monitor or for a type of touch screen monitor (resistive, capacitive, SAW, etc.), I would be much obliged. Please leave your comments below.

Also, I should point out that Timmay’s Las Vegas seminar is coming up on November 19, in today as the last day to sign up. I’m going!

(please note that this post was written using voice recognition software. I apologize for any errors.)

Michael Goode

Posted in Basics, Guest Posts

Tags: Basics, Guest Posts

danny

Will be in NY next wknd…I need recommendations:

1) where to stay (under 200/night)
2) restaurants / lounges
3) shows
4) must see landmarks in NY
danny

Will be in NY next wknd…I need recommendations:

1) where to stay (under 200/night)
2) restaurants / lounges
3) shows
4) must see landmarks in NY
Reaper

Tim, it appears that while I have maybe 1% the readers you do, mine are more helpful on average.

ursistersman – If you were up over 100% in the last year (as I am) or up even 10%, I don’t think you’d waste your time trolling here.

Michael Goode
Reaper

Tim, it appears that while I have maybe 1% the readers you do, mine are more helpful on average.

ursistersman – If you were up over 100% in the last year (as I am) or up even 10%, I don’t think you’d waste your time trolling here.

Michael Goode
Alex

Okay, very funny, but I want to know what the “random trading style” is. I’m not familiar with this.

And i don’t htink you would want to trade with touchscreens … use keyboard shortcuts instead of the mouse…or get a special mouse made for geeks who have carpal tunnel sydrome.
Alex

Okay, very funny, but I want to know what the “random trading style” is. I’m not familiar with this.

And i don’t htink you would want to trade with touchscreens … use keyboard shortcuts instead of the mouse…or get a special mouse made for geeks who have carpal tunnel sydrome.
tlento

danny, try travelnow.com for hotels
tlento

danny, try travelnow.com for hotels
YOU ARE SHEEP

You cannot think for yourselves!!!! Give TIM your money, SHEEP!!!!!!!! I am your God!!!!!
YOU ARE SHEEP

You cannot think for yourselves!!!! Give TIM your money, SHEEP!!!!!!!! I am your God!!!!!
croth

What is the point of this article? To discourage people from “scalping” so as to avoid a broken wrist?

I know of some day-traders who like scalping but ended up jumping out of buildings and broke their scalps. People – SCALPING IS DANGEROUS!

Really entertaining rather than educational, as can be expected from Tim’s blog who is an entertainer and salesman with a solid trading track record. The purpose of this article is yet another opportunity to promote Tim’s seminars and products. Sign up, buy and give him your money people! And get entertained while you are at it, because that’s all Tim is doing.
croth

What is the point of this article? To discourage people from “scalping” so as to avoid a broken wrist?

I know of some day-traders who like scalping but ended up jumping out of buildings and broke their scalps. People – SCALPING IS DANGEROUS!

Really entertaining rather than educational, as can be expected from Tim’s blog who is an entertainer and salesman with a solid trading track record. The purpose of this article is yet another opportunity to promote Tim’s seminars and products. Sign up, buy and give him your money people! And get entertained while you are at it, because that’s all Tim is doing.
http://na tom

I made $1 billion dollars last year (and I started trading with only $5 and a little red paperclip) trading my patented “random cross multi-noodle 9er RSI fast block” method. It was awesome! I must admit, I do occasionally mix in some TimAlerts…just to diversify.
http://na tom

I made $1 billion dollars last year (and I started trading with only $5 and a little red paperclip) trading my patented “random cross multi-noodle 9er RSI fast block” method. It was awesome! I must admit, I do occasionally mix in some TimAlerts…just to diversify.
Reaper

Well, I guess I failed in getting my point across.

Alex, I aleady use bunches of shortcuts, but a lot of what I do cannot be done with those. As to my ‘random’ trading, that is just my designation for my trades that don’t fit into other categories like ‘arb’, ‘long term shorts’, or others.

Michael
Reaper

Well, I guess I failed in getting my point across.

Alex, I aleady use bunches of shortcuts, but a lot of what I do cannot be done with those. As to my ‘random’ trading, that is just my designation for my trades that don’t fit into other categories like ‘arb’, ‘long term shorts’, or others.

Michael
YngvaiMalmsteve

So VCSY is a PERFECT example of why you should NEVER trust penny stock hype.

I made a post about it:

welcometothegutter.blogspot.com/2008/11/perfect-example-of-why-you-should-never.html

For those of you who have the $2.50 per share capital to short these small pennies, this will make a great short on Monday
YngvaiMalmsteve

So VCSY is a PERFECT example of why you should NEVER trust penny stock hype.

I made a post about it:

welcometothegutter.blogspot.com/2008/11/perfect-example-of-why-you-should-never.html

For those of you who have the $2.50 per share capital to short these small pennies, this will make a great short on Monday
leadpimp

When Tim says “Because I’ve got a bulletproof trading strategy that works well in good and bad times, a ridiculous personal track record to prove it.”
So in a Bull market Tim’s strategy returns 21% (2003-2006) and in a Bear market 177% (Nov. 2007 until present).
Tim claims he has an audited record of his trades using this strategy during the 2003-2006 Bull market. Has anyone seen this record?
Tim taught me to only believe traders that supply records. I thought that was the purpose of his site and trading with covestor ,full transparency. In fact TIM stands for TRANSPARENT INVESTMENT MANAGEMENT.
Where is the proof that this strategy works in anything but a severe bear market?
Why does Tim claim that his performance is “irrelevant”?
leadpimp

When Tim says “Because I’ve got a bulletproof trading strategy that works well in good and bad times, a ridiculous personal track record to prove it.”
So in a Bull market Tim’s strategy returns 21% (2003-2006) and in a Bear market 177% (Nov. 2007 until present).
Tim claims he has an audited record of his trades using this strategy during the 2003-2006 Bull market. Has anyone seen this record?
Tim taught me to only believe traders that supply records. I thought that was the purpose of his site and trading with covestor ,full transparency. In fact TIM stands for TRANSPARENT INVESTMENT MANAGEMENT.
Where is the proof that this strategy works in anything but a severe bear market?
Why does Tim claim that his performance is “irrelevant”?
http://test.timothysykes.com Timothy Sykes

LOL. my audits arent in question, did that whole pony show back when i was trying to get investors, i’ll post after thee expo…but to answer why my trading is irrelevant, its because people pay me to try to make $ off my picks…if they do, they keep paying me, if i make $ and they dont, they unsubscribe…bitch all u want, thats what u seem to do, learn to attack me when i’m down, not when i’m hitting new highs, as my subscribers are hitting new highs every friggin day
http://test.timothysykes.com Timothy Sykes

LOL. my audits arent in question, did that whole pony show back when i was trying to get investors, i’ll post after thee expo…but to answer why my trading is irrelevant, its because people pay me to try to make $ off my picks…if they do, they keep paying me, if i make $ and they dont, they unsubscribe…bitch all u want, thats what u seem to do, learn to attack me when i’m down, not when i’m hitting new highs, as my subscribers are hitting new highs every friggin day
leadpimp

A
Mr. A claims “Trust me man, this strategy works, and there are more opportunities during bull markets. I would cancel my Tim Alerts subscription if his strategy didn’t work. I’ve been following this blog for a year now.”
But on covestor he claims,
“I took a long break from trading to rebuild my capital and, fortunately, came across a blog by Timothy Sykes, a well-known blogger on penny stocks, when doing a google search on trading strategies in March 2008.”
March to November is not a year.
If there are more opportunities during Bull markets why did Tim return 21% instead of the current 177%?
leadpimp

A
Mr. A claims “Trust me man, this strategy works, and there are more opportunities during bull markets. I would cancel my Tim Alerts subscription if his strategy didn’t work. I’ve been following this blog for a year now.”
But on covestor he claims,
“I took a long break from trading to rebuild my capital and, fortunately, came across a blog by Timothy Sykes, a well-known blogger on penny stocks, when doing a google search on trading strategies in March 2008.”
March to November is not a year.
If there are more opportunities during Bull markets why did Tim return 21% instead of the current 177%?
leadpimp

Tim don’t get so defensive I am just asking some simple questions about your performance. Is TRANSPARENT INVESTMENT MANAGEMENT (TIM) irrelevant?
leadpimp

Tim don’t get so defensive I am just asking some simple questions about your performance. Is TRANSPARENT INVESTMENT MANAGEMENT (TIM) irrelevant?
http://test.timothysykes.com Timothy Sykes

LP is a total moron, 21% was on $1mil+…just watch my dvd, stop wasting my time with your inability to do ANY research, typical penny stock investor
http://test.timothysykes.com Timothy Sykes

LP is a total moron, 21% was on $1mil+…just watch my dvd, stop wasting my time with your inability to do ANY research, typical penny stock investor
http://www.thomasfellmann.de Thomas

I am a middle tearm trader and a day trader..The bullmarkets spend me 12000% in just 2 Months…Thx for it..But I do it in my own way…Tim is a great guy, but it is not my style…

Greetings from Berlin Germany
http://www.thomasfellmann.de Thomas

I am a middle tearm trader and a day trader..The bullmarkets spend me 12000% in just 2 Months…Thx for it..But I do it in my own way…Tim is a great guy, but it is not my style…

Greetings from Berlin Germany
leadpimp

Are you saying that the lower return ie. 21% is due only to the larger AUM $1+ million but not in any way determined by the bull market at the time?
leadpimp

Are you saying that the lower return ie. 21% is due only to the larger AUM $1+ million but not in any way determined by the bull market at the time?
leadpimp

By irrelevant do you mean that your trading is totally unrelated to the matter being considered, inapplicable to the existence of this site “TIM” and without any probative value?
leadpimp

By irrelevant do you mean that your trading is totally unrelated to the matter being considered, inapplicable to the existence of this site “TIM” and without any probative value?
leadpimp

Cilantro Fund Management
Timothy K. Sykes – Portfolio Manager

“The Partnership seeks ABSOLUTE RETURNS by capitalizing on the inefficiencies built into the US equity stock market due to traditions, laws, and popular individual investor tactics and emotions.”
“The Partnership’s trading strategy will use various investment techniques, including day trading, margin, short selling and other LEVERAGE TECHNIQUES and, in certain situations, purchasing or selling put or call options.”
“Margin loans may be employed at the discretion of the General Partner when needed to maximize trading opportunities.”
So you used margin and leverage and maybe even options to squeeze out a 21% during a bull market?
Is this the same as the strategy you use now?
Do we need to call your former administrator/accountant Howard Kaplan at 847 272-9821 ext.20 to find out?
leadpimp

Cilantro Fund Management
Timothy K. Sykes – Portfolio Manager

“The Partnership seeks ABSOLUTE RETURNS by capitalizing on the inefficiencies built into the US equity stock market due to traditions, laws, and popular individual investor tactics and emotions.”
“The Partnership’s trading strategy will use various investment techniques, including day trading, margin, short selling and other LEVERAGE TECHNIQUES and, in certain situations, purchasing or selling put or call options.”
“Margin loans may be employed at the discretion of the General Partner when needed to maximize trading opportunities.”
So you used margin and leverage and maybe even options to squeeze out a 21% during a bull market?
Is this the same as the strategy you use now?
Do we need to call your former administrator/accountant Howard Kaplan at 847 272-9821 ext.20 to find out?
http://test.timothysykes.com Timothy Sykes

LOL, good job wannabe researcher….good job digging up my boilerplate prospectus that basically allowed me to partake in any strategy i wanted, even though i didnt use leverage/options…seriously, stop posting for 2-4 weeks, sit back and learn…if u call kaplen, tell him i said whatup
http://test.timothysykes.com Timothy Sykes

LOL, good job wannabe researcher….good job digging up my boilerplate prospectus that basically allowed me to partake in any strategy i wanted, even though i didnt use leverage/options…seriously, stop posting for 2-4 weeks, sit back and learn…if u call kaplen, tell him i said whatup
buy the numbers

leadpipe:

Nice vocab, Please go back to pretending to be a lawyer. The entire sight is based on “TIM” being able to help other “Penny Stocking” investors make money. The proof is “TIM-ALERTS” growing membership base. Break open your piggy bank and buy the book if you want to know Tim’s history. Are you benefitting form the sight yes or no counselour. Are you an idiot or a moron?
buy the numbers

leadpipe:

Nice vocab, Please go back to pretending to be a lawyer. The entire sight is based on “TIM” being able to help other “Penny Stocking” investors make money. The proof is “TIM-ALERTS” growing membership base. Break open your piggy bank and buy the book if you want to know Tim’s history. Are you benefitting form the sight yes or no counselour. Are you an idiot or a moron?
leadpimp

Cilantro Fund S&P
2007 -11.416% +9.131%
2006 -25.827% +15.796%
2005 +23.559% +4.911%
2004 +20.356% +10.881%
2003 +6.059% +34.159%
Cilantro Historical S&P Annualized 2003-2007
+0.781% +15.971%
leadpimp

Cilantro Fund S&P
2007 -11.416% +9.131%
2006 -25.827% +15.796%
2005 +23.559% +4.911%
2004 +20.356% +10.881%
2003 +6.059% +34.159%
Cilantro Historical S&P Annualized 2003-2007
+0.781% +15.971%
leadpimp

If your strategy works in good times and in bad why were you destroyed by the lame S&P from 2003-2007?
leadpimp

If your strategy works in good times and in bad why were you destroyed by the lame S&P from 2003-2007?
leadpimp

Tim taught me to only believe traders who share an audited record.
Show us how you achieved such a mediocre performance for 3+ years.
How much skill does it take to short into a bear market every few days?
leadpimp

Tim taught me to only believe traders who share an audited record.
Show us how you achieved such a mediocre performance for 3+ years.
How much skill does it take to short into a bear market every few days?
http://test.timothysykes.com Timothy Sykes

LP, seriously stop embarrassing yourself, ALL my returns are detailed/audited…i cant even communicate with someone whose done no research whatsoever, CYGT is your answer in regards to me losing 2006, 2007….not my core strategy, still have never had a big loss on pennystocking since its key element is TO CUT LOSSES QUICKLY….bring it hater, i eat idiots like u for breakfast, high in fiber
http://test.timothysykes.com Timothy Sykes

LP, seriously stop embarrassing yourself, ALL my returns are detailed/audited…i cant even communicate with someone whose done no research whatsoever, CYGT is your answer in regards to me losing 2006, 2007….not my core strategy, still have never had a big loss on pennystocking since its key element is TO CUT LOSSES QUICKLY….bring it hater, i eat idiots like u for breakfast, high in fiber
LP

Transparent Investment Management (TIM) says,
“Because I’ve got a bulletproof trading strategy that works well in good and bad times, a ridiculous personal track record to prove it.”
So in good times like the bull market from 2003-2007 your strategy worked so well it returned +0.781%?
LP

Transparent Investment Management (TIM) says,
“Because I’ve got a bulletproof trading strategy that works well in good and bad times, a ridiculous personal track record to prove it.”
So in good times like the bull market from 2003-2007 your strategy worked so well it returned +0.781%?
YoungGunz

leadpipe, how fucking hard is it for you to understand that that was based off of a million dollar fund. You can’t make the same percentages because you are limited by the volume traded in each individual stock, especially for penny stocks.

When you start with 12k and are trading 1k-2k shares of stocks averaging around $3 you get good percentages. Now if you tried to use the same portion of a 1m account with the same stocks you’d be trying to trade positions that are greater then the daily volume. How hard is that for you to comprehend?
YoungGunz

leadpipe, how fucking hard is it for you to understand that that was based off of a million dollar fund. You can’t make the same percentages because you are limited by the volume traded in each individual stock, especially for penny stocks.

When you start with 12k and are trading 1k-2k shares of stocks averaging around $3 you get good percentages. Now if you tried to use the same portion of a 1m account with the same stocks you’d be trying to trade positions that are greater then the daily volume. How hard is that for you to comprehend?
http://thedailyvento.blogspot.com johnnyvento

I would totally defend you against people like leadpimp, who you totally deserve to be defended against, since their attacks are unworthy and lacking research. However, you totally attacked people like me for no reason, so I’m torn as to which side to take- you are being attacked by a total asshole for your hedgefund losses, but then again you are a total asshole for attacking me and my associates for being “sketchy” and “fraudulent”… so which side should I take?

I take the side that you are an asshole, sorry.

Good luck with your wrist impediment Reaper.
http://thedailyvento.blogspot.com johnnyvento

I would totally defend you against people like leadpimp, who you totally deserve to be defended against, since their attacks are unworthy and lacking research. However, you totally attacked people like me for no reason, so I’m torn as to which side to take- you are being attacked by a total asshole for your hedgefund losses, but then again you are a total asshole for attacking me and my associates for being “sketchy” and “fraudulent”… so which side should I take?

I take the side that you are an asshole, sorry.

Good luck with your wrist impediment Reaper.
YoungGunz

LP, you’re one of the few haters that are bitching about his strategy and success were from this bear market. This whole pennystocking, start over with 12k, experiment was to prove that he isn’t just one of many traders that got lucky in the bull market leading up to the dotcom bust. This is actually funny to me. Go back to some of the first blog posts and start reading through the comments and you’ll probably find a bunch of haters arguing the exact opposite of your arguement.
YoungGunz

LP, you’re one of the few haters that are bitching about his strategy and success were from this bear market. This whole pennystocking, start over with 12k, experiment was to prove that he isn’t just one of many traders that got lucky in the bull market leading up to the dotcom bust. This is actually funny to me. Go back to some of the first blog posts and start reading through the comments and you’ll probably find a bunch of haters arguing the exact opposite of your arguement.
LP

Youngunz,
“When you start with 12k and are trading 1k-2k shares of stocks averaging around $3 you get good percentages.”
1k-2k of shares at $3 would require $5k-$10k of margin on TOS since under $5 they mark you to $5 in margin. Tim recommends only using 20% to 40% of capital on a trade. Why are you recommending people use more? So you get a good percent return if you use 41+%-83+% of your capital?
Tim would you recommend that someone use 83% of their capital on a single trade?
LP

Youngunz,
“When you start with 12k and are trading 1k-2k shares of stocks averaging around $3 you get good percentages.”
1k-2k of shares at $3 would require $5k-$10k of margin on TOS since under $5 they mark you to $5 in margin. Tim recommends only using 20% to 40% of capital on a trade. Why are you recommending people use more? So you get a good percent return if you use 41+%-83+% of your capital?
Tim would you recommend that someone use 83% of their capital on a single trade?
LP

Youngunz,

In the good time dotcom bubble was Tim short?
Maybe I don’t understand the strategy. Please explain.
LP

Youngunz,

In the good time dotcom bubble was Tim short?
Maybe I don’t understand the strategy. Please explain.
YoungGunz

Man, does everything have to be spelled out for you? I was using a very generalized set of numbers to answer your question. No I don’t recomend using more then 20-40% of your capital. You’ve spent so much time researching his hedge fund I would think you could spend 10 mins and go back to some of his first blog posts on this site when he started posting his trades and see what he was working with.

I was using a generalized set of numbers based off of his trades over time not all at his starting amount. I did this to explain something that you seem to have such a hard time grasping when using an un-scalable strategy with a very large account and a very small account. No I didn’t take the time to add them all up and make an exact average but more of an estimate of what I have observed over the last year or so.

The point I was trying to get across to you is that you hit a ceiling when you’re working with a large account. You’re limited by the volume traded for each individual stock. So after I tried to explain this you decide to instead attack % of capital utilized based off the generic numbers I used. As far as I can remember he stayed in the 20-40% range and varied his position depending on if the price per share.

I hope I’ve stopped this broken record of yours now that you’ve decided to attack a separate point based off of my answer to your original accusation of why his hedge fund had a lower return then his small penny stocking account.
YoungGunz

Man, does everything have to be spelled out for you? I was using a very generalized set of numbers to answer your question. No I don’t recomend using more then 20-40% of your capital. You’ve spent so much time researching his hedge fund I would think you could spend 10 mins and go back to some of his first blog posts on this site when he started posting his trades and see what he was working with.

I was using a generalized set of numbers based off of his trades over time not all at his starting amount. I did this to explain something that you seem to have such a hard time grasping when using an un-scalable strategy with a very large account and a very small account. No I didn’t take the time to add them all up and make an exact average but more of an estimate of what I have observed over the last year or so.

The point I was trying to get across to you is that you hit a ceiling when you’re working with a large account. You’re limited by the volume traded for each individual stock. So after I tried to explain this you decide to instead attack % of capital utilized based off the generic numbers I used. As far as I can remember he stayed in the 20-40% range and varied his position depending on if the price per share.

I hope I’ve stopped this broken record of yours now that you’ve decided to attack a separate point based off of my answer to your original accusation of why his hedge fund had a lower return then his small penny stocking account.
YoungGunz

Oh and I don’t care what ToS assigns for margin/share to determine the % of my capital I will utilize. It doesn’t change the amount I am actually using. Thats something the broker uses for their own insurance on margin accounts to set a limit on buying power. I doubt Tim takes that into account either but I don’t want to put words in his mouth.
YoungGunz

Oh and I don’t care what ToS assigns for margin/share to determine the % of my capital I will utilize. It doesn’t change the amount I am actually using. Thats something the broker uses for their own insurance on margin accounts to set a limit on buying power. I doubt Tim takes that into account either but I don’t want to put words in his mouth.
lp

YoungGunz,
“Oh and I don’t care what ToS assigns for margin/share to determine the % of my capital I will utilize.”
Tim, do you trade with reckless disregard for broker margin requirements?
lp

YoungGunz,
“Oh and I don’t care what ToS assigns for margin/share to determine the % of my capital I will utilize.”
Tim, do you trade with reckless disregard for broker margin requirements?
YoungGunz

Please LP enlighten me on why I should care? If I have $10k and I want to use $2k short on a $2 penny stock why should I care if ToS marks it as $5 against my buying power. I am only going to ever trade one stock at a time so if I have enough buying power for this one I don’t give a shit if ToS marks it higher for their own insurance. I don’t have to surpass the margin mark up to get my profits. If its a losing trade I don’t have to pay the mark up either. If someone is getting limited from the amount of shares they want from the mark up then yeah they’re using too much at once. Staying within 20-40% you shouldn’t run into that problem.
YoungGunz

Please LP enlighten me on why I should care? If I have $10k and I want to use $2k short on a $2 penny stock why should I care if ToS marks it as $5 against my buying power. I am only going to ever trade one stock at a time so if I have enough buying power for this one I don’t give a shit if ToS marks it higher for their own insurance. I don’t have to surpass the margin mark up to get my profits. If its a losing trade I don’t have to pay the mark up either. If someone is getting limited from the amount of shares they want from the mark up then yeah they’re using too much at once. Staying within 20-40% you shouldn’t run into that problem.
http://test.timothysykes.com Timothy Sykes

new post:

http://test.timothysykes.com/2008/11/15/i-had-the-worst-dream-last-night…/
http://test.timothysykes.com Timothy Sykes

new post:

http://test.timothysykes.com/2008/11/15/i-had-the-worst-dream-last-night…/
croth

When I went back to read earlier posts by Tim, it seems he was genuine and sincere, and even admitted his mistakes openly. It was like a totally different person.
Nowadays, posts are either about how his “students” earned big bucks, and how his subscribers who failed are suckers, and how everyone should buy all his products.
Tim wanted to do away with all the bullship, but I guess with all the money and success he is now into bullship as well.
But what can you expect from an entertaining salesman with a proven trading track record.
Tim keep it up as it seems you are doing well with your current approach, but you might be doing GREAT if you do away with the attitude.
croth

When I went back to read earlier posts by Tim, it seems he was genuine and sincere, and even admitted his mistakes openly. It was like a totally different person.
Nowadays, posts are either about how his “students” earned big bucks, and how his subscribers who failed are suckers, and how everyone should buy all his products.
Tim wanted to do away with all the bullship, but I guess with all the money and success he is now into bullship as well.
But what can you expect from an entertaining salesman with a proven trading track record.
Tim keep it up as it seems you are doing well with your current approach, but you might be doing GREAT if you do away with the attitude.
http://test.timothysykes.com Timothy Sykes

dont get me wrong, i still want to help people, i just dont have time/patience to be nice anymore…u do well, i’ll feature u, u do badly i’ll feature…what BS r u talking about? i admit my mistakes totally openly, bring it bitch
http://test.timothysykes.com Timothy Sykes

dont get me wrong, i still want to help people, i just dont have time/patience to be nice anymore…u do well, i’ll feature u, u do badly i’ll feature…what BS r u talking about? i admit my mistakes totally openly, bring it bitch
Leftie

The solution for Reaper is to use the mouse with the left hand. My right wrist was suffering a bit because of the long sessions in front of the computer until i started using the mouse with my left hand. Simple and works. And is not like writing with the left hand, the mouse is really easy to control with any hand.

And Tim lost some money in the past, but the experience make you a better trader.
Leftie

The solution for Reaper is to use the mouse with the left hand. My right wrist was suffering a bit because of the long sessions in front of the computer until i started using the mouse with my left hand. Simple and works. And is not like writing with the left hand, the mouse is really easy to control with any hand.

And Tim lost some money in the past, but the experience make you a better trader.
Reaper

Thanks for the kind words JV and the suggestion Leftie. I am already using the mouse with my left hand. I fear that the same thing may happen there, too, which is why I am going to get touchscreen monitors. I have made enough money from trading this year that I don’t mind paying a few grand for monitors; because I qualify as a business trader under tax rules I can deduct the expense.

Yngvai – VCSY is on my short list for Monday. Nice analysis. And stop overtrading.
Reaper

Thanks for the kind words JV and the suggestion Leftie. I am already using the mouse with my left hand. I fear that the same thing may happen there, too, which is why I am going to get touchscreen monitors. I have made enough money from trading this year that I don’t mind paying a few grand for monitors; because I qualify as a business trader under tax rules I can deduct the expense.

Yngvai – VCSY is on my short list for Monday. Nice analysis. And stop overtrading.
Alex

Uhh, wake up morons! OF COURSE the current strategy (shorting) is better in bear markets, how could it be otherwise? For bear markets, we can just turn the penny stock strategy upside down and buy them when they are breaking out of dips….duhh!
And obviously, once you get to $500k or $1M, you need to start daytrading NYSE or Nasdaq stocks that are in play if you want to keep up the 100%+ annual returns. Pennysticks are for building up to that amount…I think that is the point Tim is trying to make…by starting with $10K.
Alex

Uhh, wake up morons! OF COURSE the current strategy (shorting) is better in bear markets, how could it be otherwise? For bear markets, we can just turn the penny stock strategy upside down and buy them when they are breaking out of dips….duhh!
And obviously, once you get to $500k or $1M, you need to start daytrading NYSE or Nasdaq stocks that are in play if you want to keep up the 100%+ annual returns. Pennysticks are for building up to that amount…I think that is the point Tim is trying to make…by starting with $10K.
LP

Alex,

Tim traded with $1million dollars for almost 4 years and never achieved anything close to 100%+ returns. In 2003 he got a 6% return with this strategy in 2005 it was 25% and this was before CYGT weighed him down into the red.
If we buy on dips in a bear market, as you suggest, will the returns improve?
LP

Alex,

Tim traded with $1million dollars for almost 4 years and never achieved anything close to 100%+ returns. In 2003 he got a 6% return with this strategy in 2005 it was 25% and this was before CYGT weighed him down into the red.
If we buy on dips in a bear market, as you suggest, will the returns improve?
Alex

uh, that’s a typo…for BULL markets buy on dips (essentially the opposite of the current strategy. And like I said, trading with $1M you will not be able to get 100% return in pennystocks…you will need to move on to bigger markets.
Alex

uh, that’s a typo…for BULL markets buy on dips (essentially the opposite of the current strategy. And like I said, trading with $1M you will not be able to get 100% return in pennystocks…you will need to move on to bigger markets.
LP

Alex,

Why wait until we have $1million?
Why not trade bigger markets now if they will produce 100%+ returns?
LP

Alex,

Why wait until we have $1million?
Why not trade bigger markets now if they will produce 100%+ returns?
http://test.timothysykes.com Timothy Sykes

trading bigger markets has lower odds, especially for small guys…thats why pennystocking i ideal for small accounts, welcome to my life
http://test.timothysykes.com Timothy Sykes

trading bigger markets has lower odds, especially for small guys…thats why pennystocking i ideal for small accounts, welcome to my life
YngvaiMalmsteve

Haha, Reaper, yeah my move to IB will definitely help keep me from overtrading since I’ll once again be limited to 3 day trades peer week
YngvaiMalmsteve

Haha, Reaper, yeah my move to IB will definitely help keep me from overtrading since I’ll once again be limited to 3 day trades peer week
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