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The Loon

613 Posts.

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15/08/17

17:33

Post #: 26512281
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Originally posted by shodd ↑

Tim Sykes has made more money from "educating" than trading. Ironic that he talks about all these penny dreadful warning signs, when clearly he's a walking warning sign for "educators".

Here is some "education", for the low low price of $0. -

The ST vs LT thing. Done a lot of ST trading over the years. Too much work in the wrong direction IMO. Having said that my feel for the orderbook got me a great price on my latest add so all that screen time was worthwhile. But for me I'd rather invest my time in finding real companies that are close to making it, then scaling in to a position over time. Made far more money doing this than staring at the book for a few pips.

For the newbies - while it might only take half a brain to "see" where price is going it takes a LOT of screen time to get the necessary intuition. It also takes a level of conviction that only comes through personal development at the coal face. You cannot expect to simply turn up and start picking ST bottoms and tops. AND even with all that screen time you're going to get it wrong, probably a lot more than you're comfortable with. Over leverage on the wrong penny dreadful and you'll be wiped out (which I did once); likely never to return (thankfully I decided to have another crack).

Oh and if you miss that "ideal trade" because you're at work, have family commitments or stuck on the loo then guess what your annualised return has been blown away.....because you can bet the next 3 "ideal trades" you won't execute "ideally".

Use your half a brain to ponder where the global macro winds are blowing. Then find disrupting companies that are close to having a real business in these industries. Build a position over time and be patient. Only sell out if the fundamental story of the business changes in such a way that you believe your reasons for investing are invalid. OR sell down \ out once you feel the business has reached a level maturity that the growth story has tempered.

Final disclaimer, I know plenty of people who do make good coin sitting in front of several screens watching the tape all day every day. So it can be done. Just ask yourself whether you're prepared to do the same in order to make it. For me I worked out that it wasn't the dream I was attached to, it was the money. I'd rather be out in the paddock now getting my annual beds ready for the spring, and letting TV2 pay me in its own time.

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Some valid words mate, if I may suggest something to run your eyes over in regards to "real companies" about to make it, GGL.

Plenty of fodder in TV2 land for holders, I'm waiting to see some figures to start telling the story.

TV2 Price at posting: 1.5¢ Sentiment: None Disclosure: Not Held
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Loving the momentum, page-343

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