How to Pick A Trade: Best Practices for New Traders
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- Опубліковано 23 тра 2024
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TITLE: How to Pick a Trade: Best Practices for New Traders
DESCRIPTION:
With thousands of stock potentials, how do you find trades that best fit your trading style?
You can buy stocks when they hit new highs, ideally in a hot sector, with catalysts in your favor.
You can also short stocks, which is often just shorting scams.
Short sellers can look for the most exaggerated hype-filled promises. Chances are these stocks are bolstered by lies and will likely fail. It's just a question of when. This is why timing is everything in trading.
My take on it: Focus less on company stories and more on price action. Every now and then you can strike something huge, but if you’re constantly chasing odds, you’re basically gambling.
Learn to look for and trade the best setups. Don’t play guessing games. Have the patience to wait. Use multiple indicators.
I need all my indicators to line up. I trade like a scaredy-cat. And that hurts me from making big gains like I used to, but I'm also living a rather stress-free life. I’m not a perfect trader, but I have decades of experience.
With proper knowledge, you can start to spot better plays. I know that you want action. I know you want trades. But it might be time to change how you think. Having the right mindset can shift how you approach the market and how you trade every day.
How often do you play guessing games with your stock picks? How often do you wait for only the best setups? Be honest! Leave a comment below and let me know.
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Hey, it’s Tim Sykes, millionaire mentor and trader. Thank you for watching my videos. I hope that they help you. I want to share everything that I've learned over the years. You can check out more videos right over there, and also click ‘subscribe’ so that you can watch all of these videos, get that knowledge and become my next millionaire student.*
#TimothySykes #PennyStocks #Investing
---------------------------------------------------------------------------------------------------------------------* Results may not be typical and may vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here: www.timothysykes.com/terms-of...
"WHO'S EXCITED TO BE HERE?!?!?!" **crickets** That crowd didn't deserve you, man.
Thanks but they actually all shouted, they just weren't near the mic so you can't hear them :)
I'm excited lol
Agreed
@@TimothySykesTrader fr fr
Tim you da man! I really appreciate who you are as a person, as much as the trading lessons. I too live and believe a less is more life. The happiest people live simply. Travel teaches this. I made my first million in real estate. I now want to do that with trading. Use that to live freely and share with those who need it most. Thanks for being you.
Love your no BS attitude! I keep telling people I don't want to be rich, just wealthy enough. Not too much... just enough to relax
Chris Smith this is the ultimate goal. 🙏🏽
Nope get fucking rich or be a bitch
Show me how to know when is buying or selling the handle
I just want an iron man suit and pepper Potts and a couple of homes like iron man
That and not have to worry where your next meal is going to come from!!
This video might be the most entertaining video on youtube..lol Called the whole room a bunch of idiots with a strait face..haha
its good to be real :)
Keeping it real. Thanks Tim!
@@TimothySykesTrader I like your style you are just straight up & to the point. I would love to start my journey into the stock market. But I need more money to invest in it first. Plus I need a lot of training to. Hopefully I can make it big & be able to live comfortably. But sooner or later I will make it. Even as a beginner. & im going to do my best to be a stock broker to. So I can help people out like you do.
rocksays79 😂
@@glowblossoms At 17:47 minutes into his speech, it takes the audience all this time to exercise their scruples to tell this clown to tone down his foul- mouth language. This is not real, this is disgraceful.
This was the realist presentation I've ever heard! No BS sugarcoating anything! RAW...like Eddie Murphy. My man Timothy Sykes you now have a new disciple!
Tim, out of all the interviews and speeches that I've seen so far by you, this is the most down to earth you I've seen. Please project this side of you more in future videos, thanks.
GLAD TO HELP!
Best video from you, ever. I've watched your videos for years and this one explains it all. I loved the energy and none of the fluff. Keep up the good work and thank you for all the work you do for your schools and animal rights activities.
much appreciated!
@@TimothySykesTrader the man! Can't wait to meet u one day
Thanks for all the tips Timothy! :D Really helpful! Just remember guys on taking risks: never test the depth of the river with both feet. Maybe you guys might have seen me on other videos but anytime I write a comment, I always tell my story with it so people know why I am saying what I am saying :) - also to keep inspiring other people because for me, reading other people's success journey is so motivating. :) We own a cookie shop business in our college town. When we first started it, we were living in our car with very little direction, just a huge passion to be successful. We just graduated college as well. We started a cookie shop out of a local bagel shop in their off hours at night. We were living in our car in the parking lot of the shop at the time with my boyfriend, Bran. It was a crazy experience but it worked! We became a success! And how we have our first storefront location (a second launching soon!) We started it to fund a year long backpacking trip around the world and to be successful while living the life of our dreams.
yes, safety first!
@@EriPages got my dying on that one lol.... carry on 😆
Man, I love this guy - superb speech!
So true! Being patient and waiting for the best plays only is key to growing your account fast.
#1 dip buy morning panics. Thanks for all you do and being straight down to earth!
Real talk Tim. I am watching this only now, as it is one of the links within the 30-day bootcamp coursework. Despite the speech being 2 years old, the principles will be forever current and up-to-date.
Dam. I always love your enthusiast tone. Great Video.
thanks!
I'm with you. Keep It Simple!
I have done Penny Stocks that the officers were buying the stock with their own money.
I've had good luck.
I want to learn your system.
Sign up to be a student at bit.ly/34286xj
Thank you Tim for keeping things real, I love this, inspirational!
Tim you are a True Living Legend!God bless.
I love your honesty and your methodology! I am very interested in learning how to do this!!!
Tim, I just watched this Video on the Cambridge House youtube channel (yes, I follow you a bit, lol). Glad you're posting this where you're appreciated. Those guys didn't catch your drift with what you were selling....
you cant please everyone
The intro "WHOS EXCITED"
The crowd 😐
Jokers Grin they were scared
😐😐😐😐😐
That was cringe af lol
😂😂 was thinking the same thing
That's the beauty of being secure with yourself, you stop caring what other people think.
He's so blunt I love it. "most traders are dumb look around in this room they are opportunities for free money" he drops consistent gems too if your paying attention them indicators look at the companies track record it will tell you what you need to know.
lol I am definitely blunt. Glad you liked it!
Tim I'm loving watching your videos. I'm the type of guy that feels like I can relate with you just off your personality. Very down to earth and straight to the point boom I can be appreciate blunt criticism 👊
Hi Tim , just discovered you channel , good videos , great work , I hope you keep on sharing your experience !! Thank you !
I'm excited. Keep it real Timothy Sykes.
Downloading this to listen to again and again. Thanks John!
You rock Tim. Keep it up!
Learning more day by day! Thanks Tim!
Tim’s actually been killing it lately too..He was in retirement mode for a few months there but now with these otc runs hes been hammering the setups. I was happy to beat you to the $SHMP failed breakdown on fri, well done sir and thanks !
this guys is great! raw straight talk! hell yeah
I've experienced all of what your saying trading for a year and i couldn't agree more. one of the best straight forward speech I've ever heard in my life. this speech was fire 🔥🔥🔥 subscribed.
Thank you for the reminders Mr. Tim. 😁❤
My pleasure!
thank you Tim for all your lessons
It's my pleasure
I love this guy, definitely gonna be my next mentor 😀
Thanks Tim, you're awesome. I don't care what the haters say or think, you're doing an awesome job and helping people. Best of luck man.
Great speech, Tim!
Another great video Tim, I can't tell you enough how much you pump me up! Your video's get me fired up Tim. I love them! I always learn something the 2nd and 3rd time watching!
Thank you
@@danielluiz6078 You can find them on You tube there is a lot of free one's or go to timsykes.store.com or there are a lot of resources on profit.ly. He is all over, Just put his name in, Look at penny stocks you will see him.
@Daniel Luiz I think you may be spelling Tims last name wrong brother type it in Timothy Sykes and you should be able to pull it up easy enough.
@ 12:28 there is my theory of volumetric spike tim, then stocks made a certain full back on the 8 candles opening below and filling the gap of the previous close then after that tim, notice the first gap opening on top that becomes red that fill the previous close of green push candle it is my theory sell signal for taking the money on the bank, i am 75 percent correct most of the time, always check for the volume spikes then pull back is always important many thanks for sharing your knowledge
been willing studying since 2am and is now 9 am, I have a phone interview on Monday and i cant wait. This definitely my favorite video so far!
Fbg Traplordy how'd the phone interview go?
I adore you as a person and a trader, you break it down so good. Keep up!
Please keep the lessons coming as usual. It helps me learn even though I don't have the cash to be an official student, but hey I'll take all the education I can get.
cory jeter check also my site for free info for beginners
ALWAYSSSS
Hands the f...down this is one of the best speeches about Investment/Trading that is out there and all this advice is all for free!!! Do not listen to all the other junk stuff, if you found what works for you stick to it!!!
you the bomb, :) thanks for your enthusiasm, wisdom shares, assertiveness, transparency and honesty.. Love it !!
You got it! 👍
Hey Tim. Looking around UA-cam on a Sunday morning, anticipaiting the week ahead. I too am a patient trader.
I am able to take more of the meat in the move up, because, as you have talked about often, some of us are more risk averse. Other times the news is so obviously good that the stock is gong to run up 3 to 6 dollars. The meat of the move (which I have shown in my chart photos) often can be between 1-2 dollars. Some traders who are students of yours hit for several dollars, just because they see that big run up coming os the obviously huge news. Last year NBEV was one of those> It went from 1 to 10 in a day...and had some massive pullbacks and bounces. the merger news was just too big to ignore.
I was still learing and not dialed in like I am today, so I did not even take a big chunk. I will have to go back and look at the chart but I'm sure i took like 28 cents on 200 shares or something like that.
14:56 most realist shit I’ve heard in a min
"Have some maple syrup" Haha Love it! Great video
Tim, another great video. I think what I like the most is your open honesty, it is extremely colorful sometimes but it comes from the heart, cause you live it. I respect that a lot, not that you need me or anyone else telling you, but the world needs more people like that. Not people that are two faced. I continue to learn from the videos that you have put out. Little nuggets at the time. I like to think of them as the building blocks of better trading. In this video I think you mentioned that you scan for stocks. I’m wondering if you scan for the stocks with volume, then look for the ones that have a catalyst (may not have spelled that right) then look for the ones that have had a Green Day. And put your watch list together from there? I’m I close and do you have a video that you could refer me too. If not no biggie. Thank you.
Thanks, all my scans are built into stockstotrade.com so use it!
Thank Tim
You..Dah...MAN!...SYKES! 1Love!
Awwww, thanks!
You are such a HOOT to watch!! Keep it up!!
So relevant, even now Feb 2021. CANT wait to become one of your students !🙌🏼
DAMN! This guy is a G!!!
I watched you for a few videos and I’m really interested in taking my first step. I’m planning to read your book next but I just have a quick question. How do I open account for penny stocks? Thank you.
Genuine Article for sure.
Thanks for all your tips Timothy. All your videos are so good and i have been obsessively watching your educational videos. I used to be a former world ranked junior tennis player and have played college tennis. I heard you grew up playing tennis in Connecticut...
Hehe Thank you, Tim. Great video! :D
my pleasure!
Honestly that confidence, to just keep going like he does with a crowd like that. Applaud👏
Thank you!
Subbed,Like the way he talk.
working on my studying Tim has my attention , I must calm down pay attention and study
study study study!! 👍👍
Love your honesty and transparency! We need more of that in the world if people don’t like it they don’t have to listen!
Thank you!
Damn thanks for these amazing videos, i love your attitude, very entertaining. lol really love all your tips, just recently got into trading, looking to follow your steps.
Glad to have you along!
brilliant to hear your giving back, amazing stuff
Always!
Your perspective is awesomely refreshing. So realistic. Thank you for sharing your experiences
Thanks for watching!
This video really speaks to me Tim!!! Lately, i believe i may have actually started "getting it" after many years of failure....yes, it's truly a game of discipline!!! And yes, i have to distract myslef from being the degenerate gambler and not giving my gains back!!!!
Tim, you are a truly remarkable person, i have met you several times and you have always given me great advice and been extremely generous with your time!!!
Im extremely grateful to have met you!!!!
I wanna wish you, Mom, Dad, and Sophie a very Happy and Healthy Thanksgiving!!! ❤
Lol..."have some maple syrup"...
Honesty rubs some folks the wrong way in this day and age. Great video, as usual.
Thanks for posting
Don't hate just imitate...Great video ..Thanks for keeping it real!
This guys awesome!! Glad I found his account.
thanks Thomas 👍Glad you're here!
Dude I love u! Thank u! So grateful
Honest and sincere with real talk and advice what more could you ask for oh yeah experience!
🙌👏
Great reminder of many of your Key Disciplines (like Cut Losses Quickly). Thank you!
glad it was helpful! 🙌
Thanks to Timothy Sykes, I've made thousands in minutes before 8 am (PST). Unfortunately I still have to continue my day job until the bank account can satisfy the basket.
you will have your day when you can lose the 9-5 until then keep grindin
Props👌. Keep the goal in mind my dude
Hey Andrew,
Would you mind helping me get my feet wet to do my first trade?
You got lucky. Next time you will lose a few thousand then you will be at zero. Back at your day job.
can u give an update please?
This is my new favorite Sykes talk!!!!
awesome!
Funny yet informative. Only recently discovered your channel. Cannot tell if you are trading pump and dumps, fundamentals, technical analysis or a combination. Currently trading FX but intrigued by what you are doing. Will look into this more. Thanks. By the way, good for you on those schools. One of my drivers is to be able to travel the world and help less-fortunate people like that. Really great.
You must be dumb if you believe he opened up "schools" he is a hustler and got a group of kids to pay for his stockpick website and he called it a school. LAME.
Great video Tim🙌👏learn alot thanks
what a legend 😂
:)
Hello Tim!! I just found out about you and honestly....just loved your attitude man!! I leave in Australia and I am starting my Trader journy. I have a question for you. These Penny Stocks, do they work mostly on USA market due to the high volatility and possible liquidity? I am keen to be your student, but I won't be able to trade the American market due to the timezone I am in.
Honestly big companies are the past and now the new markets and trading is smaller things. New generation of trading
YES!
Haha ngl your ads used to get on my nerves. Now that I started trading myself little by little and actually started hearing your talks, I'm loving you more and more man! 😂 He's pretty straight forward and doesn't hold back. I saw u in Harvey first but your Harvard talk was when ya won me over! Sykes, Anton, Charmath are my Spirit Animals!
You're great, Tim.
Telling it exactly like it is............ very good video Tim !
yes! 👍thanks
"I don't even. know how to spell algorithm" hahaha love it and love you Tim, thanks for all you do!
you got it!! 😂
17:44 - 19:35 LMAO HAHAHAHAHAHA
THanks Tim!!
:)
Thanks Tim!
sup tim im a new student and i totally believe in your way of trading. im a pretty patient person so im here learning how to trade. no one knows wtf im talking about when i bring up stocks. right now i almost feel like if im just wasting time or maybe i know something they dont know. i guess id rather persevere push through the bs and look for the win. ive been using robinhood and i have been taking little base hits with just small capital. i almost have about 500 to hopefully start making few hundred dollar base hits till i can start making thousand $ hits. in the mean time im making 5$ base hits practicing. im hoping to show my portfolio balance with at least $10k one day. wish me luck
Timothy Sykes, love your attitude, you are the best mentor!
thanks Anna! 👍👍
love it TIm!!!!!
No. I dont want action. Action lost me lots of $. Boring makes me money. Your awesome Tim!!
Love it!
Straight forward speech that's truthful...only wish I knew what those indicators were before trading.
thanks Patrick! Keep learning, you'll get there
This is the best video! Love this!
glad you enjoyed it 👍
Mr. Miyagi would be proud. Thanks for your wisdom Tim!
I like your mindset. I've been trading for a month now and am up $550. The first week I was up $800, but then lost it from some stupid impulse mistakes that made me realize I need to be patient and buy only when something jumps out at me. Being patient like you said helped me get that $550. I had $8,500 and now have $9,050. I hope I can at least double my money in a year because if I at least double my money for 7 years I will be a millionaire. Everyone says that is impossible, but I'm going to try no matter what.
I love your passion Tim!!
Thanks!! 🙌
hey tim!
im about to buy a day trading course and im thinking between yours and warrior trading. tell me why i should buy yours over WT.
They help me thanks bro ima keep watching just subbed
thanks for the sub! 🙌
Straight shooter. Very useful info... Thanks Tim.
glad it was useful 👍
I love the attitude 🤣🤣 youre a cool guy. Thanks for the info bro !! 🙏🏼🙏🏼
I appreciate that
Hilarious and honest. Loved it
Awesome speech !!!
I love the fact that u keep real .... now.. how do i start the penny stocks moves?? Where? How? When?
Great guy giving away to charity and being cool at the same time!
I over trade often thanks for the advice I got pattern day trading twice in two weeks frm the same account now i can't trade until 6 months on that account I needed this!
Great video. Buy physical investment grade silver. Maybe 5-10% of your whole portfolio. Go look at silver and it's past, and what it does during dollar crashes.