Review of Trading Tickers – Chapter 4 – Educational Services and Daily Preparation by @kroyrunner89

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Link to Table of Contents Post

Summary:

Ooooohhh yeah!! Finally getting into the nitty gritty, REALLY enjoyed this chapter. It starts out a little slow going over chat rooms and services Tim uses or has used in the past. Which is useful, but a little boring for me. I know of and use all these same services (well except the promoters). And then there was a middle block of time allowing Tim Sykes and Investors Underground to go over their history and what their products are geared towards. If you are considering subscribing this was a good “infomercial” for those two services.

Intro

Now when I use the term “infomercial” I’m using it in a positive sense. I know this term is often used as a negative. But Tim gives both of them time to describe what they offer and how, but I’m also not an idiot, their goal is to get you to subscribe, but there is NOTHING wrong with that. Both Sykes and IU give very fair and honest descriptions of what they have to offer. If you are considering subscribing to either or both this was a good segment.

Then we get into the daily scans and daily prep. Very solid presentation and very beneficial. Tim does a great job in detailing how he scans and his thought process. This I think could be a great benefit to any new or intermediate trader. I picked up a couple tips but also it really geared up my confidence a little, I did not realize how similar Tim’s and my process’s were. On that note, great quote by Tim:

“Confidence is one of the most important things when trading.” – Tim Gritanni

I will be adding several tips from the last third of this chapter to my scanning and daily routine arsenal. After this first chapter past the “basics” I’m very fired up to see the next few.

Notes:

Chatrooms
     -Sykes
     -IU
     -Promotion Stock Secrets – OTC
Chat rooms are helpful but need to use them as an extra set of eyes, avoid the randomness
     -Don’t follow picks, use them as a screener
Video recaps/lessons are useful
“Use these services to learn NOT to follow”
Sykes Interview
     -History and value of Profit.ly
     -Use picks as instruction not trades to follow
     -Gotta learn to cut losses quickly – never wait to get back to even.
     -There will always be another play, no point in letting losses run
     -Success comes from diligence and treating it as a job consistently
     -Record keeping/tracking is important
InvestorsUnderground – Nate and Cam
     -Trading Community
     -Scans/Chat/Video Lessons/DVD’s
     -Both DVD’s are intended to get traders up to speed on chat
     -New traders want to push buttons instead of learn setups
     -Things to get to the next level
          -consistency
           -prep
          -find niche
          -create your plan and stick to it.
     How to prepare
          -appropriately sized watch list
          -game plan on entry and exit
          -If you are wrong let yourself be wrong
     Trade the ticker not the company
          -stick to YOUR plan not someone elses
     Market is always right
Stock Promotion Emails
      -Promotion market is a little dead now
     -But will probably be back at some point
Twitter
     -Never follow, use it as idea generation/scanner
     -You plan will NEVER be the same as others
     -Some accounts with “flow” large followings can be scalped but risky
Scanners
     -EquityFeed
     -Stockstotrade
     Free
          -thinkorswim
          -finviz
     Compare matches to daily chart
Equityfeed
     -Filter Builder
          -Good rundown of building filter
     -Tim’s scans
          -Big gainers – OTC
               -Price and liquidity
               -$ Volume vs share volume on OTC
               -Number of trades
          -Listed stock scan
               -$2-20
               -% change greater than 15%
               -Liquidity
                    -3mil dollars
                    -3000 trades
How to turn scans into a watchlist
     -daily chart
     -Cool realtime watchlist building
     -Good discussion of shorting plans into Gap ups/gap downs
     -Didnt realize how much similar our “weeding out” process was
Watchlist spreadsheet
     -Good example of note taking
          -Self Sufficiency
Scanner next day into pre market
     -review previous day’swatchlist
Intraday scan
     -same price and % change
     -need to play with volume through the day to keep list manageable
Spreadsheet tracking
“Confidence is one of the most important things when trading.”
     -Know your setups

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