Changing The Way I Teach

A lot has happened over the past 8 years since I began teaching, most of it very good, but some of it bad and so I must acknowledge the bad and try to fix it. Just as I teach traders to refine, refine, refine their trading strategies, I too must refine, refine, refine my teaching strategies.

I won’t brag about any of my teaching success — I’ve done far more than my share of that already — this post will be specifically about the misguided approach too many students are taking and why they do it and the blame for it all lies squarely on me and the learning environment I’ve allowed to go on for too long and the steps I’m taking to improve that learning environment.

You see, 90%+ of people think that it takes “hot picks” to getting rich in the stock market and that’s just flat out wrong (perhaps that’s why 90%+ of traders lose in the stock market)

“Hot picks” are irrelevant, or worse, dangerous, since whenever you get a “hot pick” you will likely hear about it too late, be unprepared to act with a responsible trading plan in place and you will be chasing others who heard about it before you…the game of follow the leader does not work in the stock market, especially because the last guy to hear about a “hot pick” often buys at the worst time and becomes a bag holder not understanding what he or she did wrong.

This is one of the many reasons why traders lose, they jump into gunfights armed only with a knife (which in this case is a flawed strategy and misguided assumptions).

Instead, the key to success is learning to make a plan with your investments and stock trading and sticking to it, always optimizing and refining your process in the pursuit of success.

See what patterns and strategies suit your personality best and focus on your strengths while minimizing your weaknesses.

When you’re wrong about a stock, don’t freeze like a deer in headlights, don’t double up on your position, learn to cut losses quickly and not let small mistakes turn into potentially damaging disasters for both your account size and your confidence.

Being wrong stinks, but as a trader, you must get used to it and learn to manage the trades that do go bad. Small losses aren’t the end of the world and if you persevere with your education long enough, you’ll learn every which way of what not to do, then you will gradually learn what does work time and again and you’ll learn to focus on that.

While I’ve tried to do my best to reinforce these key lessons, I have failed in some regard because of my teaching style that has made people believe that it’s trade alerts and following the alerts of not just me, but also the top traders, that will lead to your success.

My countless video lessons, watchlists, webinars and commentary get far less views because too many students don’t want to study, they just want “the next hot pick”, mistakenly prioritizing trade alerts instead of time-consuming preparation.

As every single one of my top students can attest, that’s the wrong plan. As I have said repeatedly and reinforce in every single watchlist every day and every weekly webinar, NEVER follow my alerts or anyone else’s alerts and get it out of your head right now that you should rely on “hot stock tips” FROM ANYONE to be your key to getting rich…alerts should just be used to learn in realtime so you can see what gets successful traders in and out of a position and what they did right vs. wrong on the trade…sometimes small losses can even be considered wins (even the best trade setups can go the wrong way for many different reasons so small losses can be best-case scenarios)

My chatroom should be used for idea generation, seeing what hot stocks are in play so you can create your own plan and make the best trade you can, NOT to follow anyone else into or out of a trade.

The key to your ultimate success is based on your own studying, preparation and eventually assimilation of the best patterns, trends, rules and lessons you learn over time…success isn’t easy AT ALL, but with enough hard work and dedication it is possible.

I’ve tried trading with a small $12k account this year in order to teach, but whether I trade big or small, it’s the trade alerts that too many people focus on. And that is changing right now because it’s been my mistake to feature this much.

As of today, I’m not going to be alerting my trades on many of the hottest/fastest plays because I don’t want anyone to believe that I condone this whole “get hot stock picks” flawed mentality.

Instead, on fast trades like these I’ll be making many more live videos of my trades rather than wasting any time having to write out alerts/commentary to send out to students…these video lessons, some of which I won’t even be trading, just narrating and commenting on the price action and how to plan/structure potential trades, will be incredibly more useful/comprehensive than my text alerts as you’ll see my trades play out from start to finish on video after they’re completed (the longer trades where I hold several hours, I will likely break up into segmented video lessons.)

Secondly, I’ll be providing more commentary throughout the day on stocks I don’t have positions in just so students can better understand what makes a stock NOT a suitable trade for me, which is a hugely important skill to learn, as unpopular and unsexy as it sounds.

Third, in order to help students better understand the differences between good and bad trading setups, I will be giving away my new 11+ hour Trader Checklist guide entirely for free so everyone can be on the same knowledge level when it comes to trade preparation and trade management.

Again, these topics might not be as popular as alerts, but they are crucial in a student’s educational development process so I will focus much more on this kind of stuff…sacrificing the sizzle that everyone has become accustomed to and focusing on the meat of your education, even if too many students don’t realize it yet…but trust me, live videos of trades are going to be a game changer, even if I know many students will miss seeing so many email alerts per day (remember I’ll still be alerting many of my trades too)

Fourth, we’re getting rid of all private messages in the chatroom except for messaging to and from the chat moderators who we have hand picked to be able to deliver good, solid information and good, solid lessons to students…there is WAY too much misinformation/off-topic chatter being shared and we need to clamp down to make the chatroom a better learning environment.

In case you’re freaking out right now, remember I will still be alerting the vast majority of my trades and instead of beginning with $12k like I did this year, I’ll be starting with just $5k in 2017, I just won’t be alerting many of the fastest morning spikers where alerts can come too late — since the stocks move so fast up and down — as it’s been confusing for students who receive a buy alert for a stock at let’s say $2/share and because these stocks spike so quickly in 10-15 minutes in this hot market, especially near the market open, the student receives the alert when the stock is already at $2.50/share, a price level where I’m already looking to sell…you can imagine how discouraging that is, so this is my solution.

This way by doing more live video lessons in place of as many alerts, students will be able to see and learn from how the trade plays out from start to finish, no matter how quick the trade is, with my preparation and realtime analysis outlined in detail rather than just in a short alert abbreviated in order to get it out faster due to the stock moving so fast…in short a far better educational experience than what I’ve been providing before with a greater emphasis on EXACTLY what students should be learning.

My thanks to many of you for your input on this, I don’t take teaching lightly and I don’t make these changes lightly, but I really do think this new path will lead to more successful students which is all I want in the long run.

I have to thank in particular Tim Grittani, Michael Goode, Tim Bohen and Mark Croock for their input in helping me understand what students need most and in particular I have to apologize to my old friend Bao who has been trying to push me in this direction for a long time now…I miss our old friendship and I apologize for it taking so long for you to get through to me.

Every new trading strategy and teaching strategy is scary at first, but all you can do is plan, plan and plan to up your odds of success and that’s exactly what I’ve done here so I’m actually really excited about this new direction and cannot wait to see what every single one of you think about this new change…hopefully it’ll help you learn to plan and execute your own trades better!

Comments (188)
  1. Timothy Sykes
    Hey Everyone,

    As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

    Which is why I've launched my Trading Challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

    So when you get a chance make sure you check it out.

    PS: Don’t forget to check out my 30 Day Bootcamp, it will teach you everything you need to know about trading.

  2. anom

    Mad respect for putting your pride aside and allowing for positive change. Sometimes we know we are right and stubborn to make a change. I’m accused of that as well. As for your old friend, be humble and admit you were stubborn and tell him you value his old friendship. Tell him HE was right. Eating crow is sometimes the best way to get back the people that mean the most to us. Sell the lifestyle, but never in a boastful way. I think you will be respected more in the trading community. Just a humble observation……once again…….I have been accused of the same. We all know you’re good man.

    1. Timothy Sykes

      Thanks thats exactly what I did 🙂

  3. James Walling

    This article has made me appreciate you and what you are trying to do. I have been following you for a few weeks and I came to the conclusion that you were trying to pitch your alerts more than anything else. I have neen hesitant to sign up because I want to learn how to trade stocks, not just follow someones picks and hope for the best. I look forward to watching you work and learning from someone who is obviously a master of their craft.

    1. Timothy Sykes

      GOOD!

  4. Ben Hawkes

    Thanks so much Tim. As a new trading challenge student Im really excited and motivated about learning as much as I can about your strategy and really appreciate the hard work you are clearly putting in to give us the best chance to be successful. Blog posts like this really assure me that Iv made a the right decision becoming one of your students. Back to the DVDs now for me.

    Thanks

    1. Timothy Sykes

      🙂

  5. Carlos

    This is a great idea Tim. Especially for people who learn better visually. Since I subscribed to Penny Stocking Silver a few months ago, I have learned the best rule in trading – cut your losses quick. Though have not yet been profitable in my trades, I have mastered cutting my losses quick. I thank you for that Tim!

    Another benefit your video will have is, forcing your students to learn and apply the concepts you are teaching. I used to rely on alerts and try to mimic it without success because by the time I get in on the trade, it’s too late and the opportunity to make a profit is gone. Thanks again Tim and keep up the good work. You and your teaching is much appreciated.

    1. Timothy Sykes

      NICE!

  6. Jimmy

    Hi Tim

    I subscribed to silver plan but haven’t quite got the money to start as a Challenge student. I have been learning through your video lessons, and really eager to become a student sometime soon. I am excited that you plan to start your account at 5k in 2017, and I think I will jump on the bandwagon and start with 5k with you too. What’s your recommendation for people like me who can only afford silver plan and on their way to becoming Challenge student?

    Best,

    1. Timothy Sykes

      Cool, study my video lessons hard!

  7. Paul

    Hey Tim,
    Congrats on recognising a problem and actively seeking the solution – there is strength in doing that – it will bring better results overall. Why do people want to trade? most will say to make money,some may say lifestyle. Some will identify that they need to go thru an apprenticeship of sorts to create a new income stream due to circumstance. Of all the skilled people i have met and seen in, say, the construction industry, it only takes one accident or occupational injury to stop an income, most dont have a plan ‘b”, statistics brought out a few months ago reveal over the last few years the amount people actually can save has diminished thus some will try to start with small accounts looking to forex / stocks / crypto currencies or other vehicles of trading. There is information overload so starting can be very confusing – leading to initial losses. So your video on checklist to complete before entering any trade is valuable – it will be the foundation of what people practice in their trading – I have seen, by way of comparison, expensive training courses for forex that omit useful information on developing the trading plan because they want to upsell the next course – so many fail to realise their goals / take a longer time to reach them due to missing information or quit.
    am looking forward to seeing this video sometime to begin my journey and commitment into this arena once more funds come available for a foundation amount to begin with.
    Thankyou for your honesty – that defines you
    well done 🙂

    1. Timothy Sykes

      Thanks!

  8. TAYINTHEUS

    Hello Tim and THANK YOU!
    I am fairly new to the challenge (I came on in mid-July). YAY!!!!
    As a “newbie” I am watching your DVD’s/following through the ppt./workbooks (to ensure I get that SUPERNOVA down in my soul!), re-reading your book (An American Hedge Fund), doing my homework (watching the recommended video’s/gathering and seeking to learn what my trading weaknesses will be), attending the weekly webinars and trying to keep up with the various emails.
    Your new approach will provide clarity for me as I have thought when I review your Watchlists; (1.) What if you were not providing that data and (2.) How in the world can one seek and develop their OWN watch list from scratch for the purpose of broadening and managing their OWN profitability over their lifetime?

    After reading in your book about how you sought out and collected your data in the beginning; that has ultimately gotten you to where you are. To add back in the day when research was rather slow/bothersome (back when you where grateful for AOL, lol).
    I personally feel that you ARE leading the horse to the water. I WANT to learn how to lead myself on to more nourishing springs throughout my life time for the sole purpose of FREEDOM/AN HONEST INCOME.

    1. Timothy Sykes

      NICE!

  9. Ftkmatrix

    This is gonna be awesome!!! I just finished the HTMM dvd. Dvd 5 1:30:00 $TCCO live trade. That was the best learning material I have ever seen. I learn and sponge faster when I see it live. Looking forward to the change! 2017 $5000 acct start is also very exciting! I’m in the same spot atm and I hope to see it happen right in front of my eyes. Looking forward to the traders’ checklist. ‘FREEEDOMM!!!’ I can already envision my self being there. So excited!

    1. Timothy Sykes

      NICE!

  10. Matt Purciel

    hey Tim! I always enjoy reading your emails and watching your videos! Very inspiring especially when I’m sitting in my desk job at work. Happy for you with your success and for sharing that will others! I might take you up on that offer especially after making all those same mistakes! Thanks again.

    1. Timothy Sykes

      🙂

  11. Vlad S

    Thats a great approach!!! Keep up your good work! Love to watch and learn with your vids!

    Chees,
    Vlad S

    1. Timothy Sykes

      Thanks!

  12. Thomas Soch

    Simply put you are living out the motto “Be the change….” Thank you for your courage to change. By the way, that was the motto of our last sub-campaign at church. You Tim are a teacher who remains teachable. That’s a teacher I can trust. Thank you. Tom.

    1. Timothy Sykes

      YES!

  13. The Mystery Man

    Hmm Bao got his apology again but not me… I only said this for for 8 years

    1. Timothy Sykes

      Thank you whoever you are, sorry for taking so long!

  14. Alex

    Took a break from your service for a while, for two reasons. Realized I was becoming dependent on the chatroom to find trades, and secondly and more importantly, there was too much bullshit. Too many people spouting random nonsense, gags left and right, you blocked me on twitter for no reason other than liking bao’s tweets.. it was clear to me that your service was not optimized and there was much to be desired, obsolete if you will. And your ego was just flat out annoying. These updates and changes are extremely positive and welcomed, good job Tim.

    1. Timothy Sykes

      Thanks!

  15. Shield111

    Tim, your +11 hour hour Trader Checklist guide is for subscribers only? I Have the subscription in the past, but i’m not have enough money to maintain that monthly fee.