Hi Tim, This is the first thread of yours I have read as I am not here a lot but after seeing this thread of yours I just wanted to ask you what exactly do you mean when you say penny stock? Is it a stock under a dollar or more than a dollar or over $5.00? Thanks and best of luck in your new endeavor. Tom
Yes, technically speaking a stock under $5, but I play whatever microcap/smallcap gets in play. For example CHNR is no longer a Penny stock, after rising from 10 to 40, but it's still my kind of play, actually an ideal play considering how far it's come. Basically all these stocks move like a pendulum, great ups and great downs. It sounds easy, but it's not, thats why you need to have experience or learn from somebody with experience because each play is different and you need to be able to predict the mutations.
WRONG! It was all due to Sykes! Only a loser blames a stock for his loss. Blame yourself, it was YOUR decision to take the position.
Yes and as I've said time and again, I take full repsonsibility. The reason why I note it wasn't a trading loss is to show that my trading strategies, which I unfortunately rarely followed, still hold true and that's why I created this DVD. Imagine knowing exactly what to do, but not being able to be disciplined enough to follow through? Hopefully I can teach others to avoid my mistakes and use these patterns for some nice profits.
<i>"Imagine knowing exactly what to do, but not being able to be disciplined enough to follow through?"</i> Easy to imagine... even easier to understand. Lack of discipline is not a trait like blue eyes, light skin or pattern baldness. Lack of discipline in trading = lack of faith & trust, based on fear of unknown outcome. If the actual outcome of taking each trade resulted in 100% win success, would you still suffer from the same lack of discipline? If the outcome was guaranteed to win on each setup of your method, how would you handle trading then? "Not being disciplined enough" really means lack of complete faith & trust in a specific method or approach. You almost trust it, but not quite. Therefore you ad-lib, freelance and otherwise dick around in general. That's the fear part of emotions manifesting itself in attempts to either catch trades your untrusted approach might miss or avoid potential losses your method may cause. Very easy to imagine, not so easy to cure. Treatable, for sure. Most aspiring traders take the avoidance route to over-coming discipline issues by doing other things that make them feel good. Lots of ex-traders have passed thru realmoney.com in the past for similar reasons, I'd opine.
I have total faith in my strategies, the main problem was that I always just got too excited about the probability of each new large gain. I traded this one pattern for nearly a decade (see charts of ZVUE, SCON, CRDC, now CHNR) and came to expect profits without having a backup plan for all the pattern mutations. I was ALWAYS too early, lost big and made it back and more. This describes my entire trading career and I still made money every year! Now, my CYGT debacle really doesn't allow me to take on trading risk and yet these patterns still exist--what would you do? I thought long and hard about it and this DVD is what I came up with. At least somebody should be allowed to profit from this, why waste it, right?
"that's why I created this DVD." You created the DVD to make money for yourself. Bottom line. Think about how many people your actually helping and hurting. For every 10 that you sucker into buying your DVD and trading penny stocks, 90% are probably going to learn a hard, expensive lesson (on top of your $300) and 1 will probably make some money. Think about it. Are you helping or hurting? Because in this business, you can't say, "if I help just 1 person, it was worth it." You end up hurting 9 others. But, as long as you collect your $300, who cares.
Incorrect, my DVD is different because I've already made all the hard expensive lessons and I show this through a detailing of all my best and worst trades. Think about people getting into Penny Stocks for the first time and having the knowledge and experience of a 10-year veteran who's seen just about everything. The only thing better would be a DVD from a 20 or 30 year veteran, so I'll let you know about those products in 10 and 20 years.