Trading Tickers – The Long and Short of It by @kroyrunner89 – Chapter 1 review

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Link to Table of Contents Post

Summary:

Pretty simple and basic chapter but that is to be expected. Its the introduction and history which is pretty much obligatory for a book/DVD etc. But I did like it, one of the most interesting nuggets was related to funding accounts. I knew Tim had borrowed money from his parents to open multiple accounts, but I never realized he never actually traded with that money. It was strictly there as a “placeholder” so that he could get over account minimums etc.

Good and quick chapter, Tim did a good job telling his story without dragging it on too long. Tim has a very interesting story, but being honest if you just want to learn “how he trades” you could skip this chapter.

Notes:

Introduction and History

Slow and steady consistency

72% win rate

Scale up with size

No interest in 9-5

Poker and football gambling
-early success

Use fantasy stats (NFL) to trade real games statistics analysis

Found luck was the biggest key in poker and betting.

Finance major but had no interest in “investing”

Early trades were “bets” on true penny stocks

Starting following “picks” on forums/gurus etc

Found Sykes in the early days (2010) how to trade pump and dumps

Joined Sykes service in 2011

Followed videos and trade alerts, just as learning tool, not actual follow on trades.

Used loaned money to open up multiple accounts to allow more trades under PDT
-Only still trades his cash, not the loaned, money, didn’t every realize this, interesting!

Found Investors Underground and used free trials, but could not use it from work.

Sykes taught basic technical analysis, IU taught more how to think like a trader.

Difficult to juggle trading and day job

Big losses in August 2011

Started to look into and learn short selling.

Refunded with summer earnings – one more shot

Got consistent buying promotions ORC breakouts and pump and dumps

Awesome Pennystocks – first big win

Made deal with Parents to trade full time

Feb 2012 merged accounts into Speedtrader

After paying back parents, moved to IB to learn more short selling

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