Monthly Lessons From My Newest Six-Figure Student


– What’s up, Tim Sykes,
millionaire mentor and trader here. Very proud to introduce you to one of my newest six-figure students. He has a lot of great
lessons, stick around. (upbeat music) I wish more students did these, not just six- or seven-figure
students, but all students. I want you to watch this video. I want you to, you know,
get inspired, get educated, but mostly use it as a lesson and an example of what
you should be doing. No matter how big or
small your account is, you must be meticulous, okay? You must track your
gains, track your losses. You know, this is why
we have all these tools builtin to Profitly,
you should utilize them. You should also talk about
them on social media. Have other people, you know, help keep you accountable for
your actions, good and bad. I don’t know if you’ve noticed,
but a lot of my trades, you know, my losses have
gone down quite a bit lately cause I just have so
many people watching me and I don’t want to look like an idiot, and frankly that’s a good thing. (chuckles) It keeps me conservative. So think about that, be meticulous. I know that it’s annoying
to go over every trade. Some people just like to
focus on their biggest trades, their biggest gains or
their biggest losses, but you have to really
optimize your process. You have to think of
yourself as a scientist, and it’s a game of optimization, and while there’s no magic formula you can optimize your own
trading better over time. So as you watch this video start listening to what
Kyle is talking about, not just the money that he’s
made, but his whole process. And I love the fact that, you know, frankly he didn’t make that much, especially at the beginning of the month, but then when his ideal trades
came along he was ready, and every single person watching this has a different ideal trade. Some of us are better at going long, some are better at shorting, some are better interday
or multiday or multiweek. You know, different times of the day, some people like trading
at the market open, some at the market close, so you know, I was giving a challenge webinar just literally like two days ago and someone said, “Just
enough of all this, Tim. “Just give me the easiest pattern,” and I was like, you know, that’s a different answer for everybody. I wish it were simpler,
I wish that everybody was just good at, you know, one pattern, but if everyone was good at one pattern then guess what, it would
be a very crowded pattern, kind of like what short sellers are feeling the past few months. Enjoy, short sellers, getting squeezed. I think that you should have multiple patterns in your trading arsenal. Even if you are good at
one pattern in particular, what happens when the market changes and that one pattern doesn’t work as well? I see a lot of short sellers just specifically focusing on shorting, and right now because it’s
such a crowded strategy they’re losing big, and you know, not to toot my own horn, but I probably talk to more traders, and especially more newbie traders than anybody else in the world, and I will tell you short
selling sucks right now. Even if you’re able to, you know, overcome some of the
squeezes and hold long enough you’re taking excessive risks, it’s gotten so choppy and scary. I would not do it, but you’re
welcome to try anything. Try paper trading. Trade with a small account
if you want to test. You know, you’re gonna have
to try different stuff, and if you’re the next great
short seller, God bless. Whatever works for you and whatever, you know, makes you comfortable. I have my own favorite patterns, whether it’s dip buying morning panics or buying first green days on OTCs with big news and big volume, or shorting first red
days on pump and dumps, those are my three kind of go-to patterns, but I have a whole bunch
of other patterns, too. But you have to choose and
you have to get experience. This is why like some people are like, “Oh, how quickly until I make $1 million?” Like Tim Grittani, my top student, now $1,500 into over $8.5 million, he made nothing, zero, zero
dollars his first nine months as he was learning, testing, and refining, and he didn’t even make his
first million for three years, and that was in a very hot market. Not all years are created equal. Right now there’s no really hot sector. You know, we’re looking at
a lot of short squeezes, a lot of OTC, you know,
low-price junk spikers like under 50 cents a share, and that’s not really
like an amazing trend. So be careful, be patient, and be meticulous
tracking your own setups. Leave some comments below after you watch this video of Kyle explaining his month, and leave comments below with
what you learned from it. I’m curious to see what you gain from it, and thank you, Kyle, for sharing your journey so transparently. I’m so proud that he’s now
made over $100,000-plus. He’s a young man but
he’s doing great work, and he’s investing time and
energy into his process. That, I think, will serve you
very well if you do the same. Thank you.
– What is going on, traders? It is the end of the month, so clearly this video is
going to be the October recap. As you can see, made about $4,000. Very mixed emotions about this month. The first half was quite
frustrating and kinda slow, and then it’s picked up and
I couldn’t adapt quickly, and then ultimately I would pretty much break even the entire month until I had my ideal play at the end of the month, so we’re gonna go through week by week. I’m not necessarily gonna go
through each particular day, but each week there was a few trades that had a lot of good lessons in them, and I learned a lot this month. And so we’re gonna go all through that and then I have kind of
a more important lesson at the end that I think will help you, and certainly helps me
figure out how I can see the implications of my mistakes that if I can change them
will actually turn into PNL. Like how do I actually, how my mistakes actually
cause me from losing money and how can I make more money
by reducing those mistakes, so we’ll go over that at the end. So let’s get right into it, first week. Best trade was CVSI, so this isn’t, you know, this is a former runner. If you go back like two,
I think three years now, awesome, awesome run from three to nine, and this has been shopping
around for the last year or so and the weed stocks have been selling off, so now this thing’s having a bounce. You know, three green days in a row from, you know, 160 up to 250. Good, you know, solid percent
gainer for three days, and so I’m looking for the first red day, so if we go to interday, you know, I’m looking for the reversal. I’m looking for the backside of the move. After three green days in a row it’s unlikely that it’s
gonna have a fourth, or it’s harder as it keeps going, and so you could see it here. One green day, two, three, and so into the close on the third green day it kinda had a spike, but it has all these
resistance levels, right? It has this 258 level,
it has this 263 level, and then ultimately it
has the 270 high of day. So coming into the market open here I wanted to see how strong was
this morning spike gonna be, and so it spikes, it barely
moves from, you know, 259 to 266, so barely six cents, and so right when I see this morning spike fail here I take a starter. Now normally I don’t like doing that, but when it is a starter
my risk is very small, so I don’t have a problem doing that because I could easily just
cut it if it does keep going and it breaks this 270
from the day before. And immediately I was
right, took my starter and immediately it starts
going red on the day, so I then add, I then start
covering at dips here. It starts getting a little choppy. I end up covering I think most by here, and I’m like, “Sweet, I’m out. “I’m done, I made like 800 bucks.” And it starts bouncing so
I think I timed it right. Of course in hindsight, you
know, it faded even more. I could’ve held over on the first red day, I would’ve made even more money, but again, I’m not gonna
complain about 800 bucks. I’ll take it any day, so that
was, I believe, on Friday, and so why did I only end up
making 200 bucks that week when I had an $800 gain on CVSI, because you know, these days I was just trading crappy patterns. I remember I was trying to short DCGD, like swinging it because it, you know, had a huge run to like 250,
now it’s under like $1, and that didn’t go well. I remember trying to short, you know, SPNV up on this run after they
got delisted a couple times, and that didn’t work, as you can see. This thing grinded right back to 50 cents from where it started, so that month’s just pretty uneventful. Not much happened, and
then the second week. This is where a lot of lessons are because on the ASO, actually so if you had watched my previous video
lesson about me trying to learn, to go along on these breakouts, this is when it started, week two. So the first trade I took was CLSI. I was trying to long this
breakout here over like 9.7 cents, and you see the volume’s
big, I think they had news, and so I was looking for this thing to have like this kinda day, you know? Go from four cents to almost 10 cents, like how about have
this go from nine cents to almost like 18, like let’s
get this like account rolling. I was gonna grow my account big, and so I tried to buy that breakout and it just didn’t, I
mean it worked initially, but kinda if you listen
to what I was saying the theme of the video
lesson, last videos I made, you know, just none of these
breakouts worked for me, whether it was my
mistakes or the breakouts they just didn’t work. So I remember, you know,
longing up in these dips and it started working, I was like, “Great, I’m gonna make money
on my first like breakout. “This is gonna be awesome,” and
it kinda made a high or low. I didn’t think too much of it, and then into close it just died, right, and I had to sell here
cause it just, you know, a strong, good-looking breakout isn’t gonna be weakened at the close. It’s likely gonna be strong,
if not at least go sideways. So I took a loss there,
first one of six trades that I tried to learn breakouts for. That was on Tuesday, and on a Wednesday this was my toughest day of
the month, which was on NAT. So again, similar to how I always like to short some of these stocks, you know? Multiple green days in a row, I’m looking for the first red day, and that was, or I thought
would be on the 9th. So if we go interday there
wasn’t necessarily news. It was about the tanker oil stocks. This is one of them that, you know, this one and along with like two or three others were getting popular because these tanker
stocks were getting hot, and that was my biggest
mistake, right, number one. I don’t, like shorting oil, energy, and tanker stocks isn’t my specialty. Like I don’t, that’s not what I need to be doing as a strategy, and the fortunate part of
why this was such a rough $1,300 day is because I
don’t what the reason was. I kinda went into this day thinking I can just start taking size and like start throwing money around like I’m some badass trader, and that was just not the case, right? And so this was the day I
thought it was going red. It cracks out the open, which I miss it, but then it starts bouncing, so I’m like, “Okay, let me take some
size,” I take 4,000 shares. Immediately next think you know, high, then I freak out and cover. So a boom right there, $600 loss. And then it immediately slams back red. Okay, now it’s red on the day again. I think the red/green
mark was like 370 or 371, so we’re back red again,
and out of impulse I immediately slam back in 4,000 shares, and so after just taking a $600 loss I’m now like slamming back in
thinking I know what I’m doing and this thing’s just
gonna fade away, you know, easy peasy and I’m gonna
make my money back, and of course you know the chart, what looks like I get squeezed again. (chuckles) So within the first 20 minutes of the market open I’m down $1,300 cause I think I know more than I really do about this particular stock and how it moves, and so I get crushed. Like a just massive punch
in the stomach right away, and I had, and I missed this move. I didn’t even short any of
this on the backside of it, and I just, I’m done, I take
my $1,300 loss for the day and I just kind of sit out, and so what I learned from this trade was like what am I doing? (chuckles) Like what are you doing, Kyle? Like you know, I am
profitable on listed stocks, but to think that I can
just trade them like OTCs and just slam on a weakness and just slam in when they go red and thinking that’s
always gonna be the case and they’re just gonna
give their money away to me and I’m just gonna make money that easy, it’s just not, that’s not
how they work, you know? I just was so not meticulous
at all with this trade. I remember for some reason
googling it to see if I, because I couldn’t find news. I remember googling
it, like what was news, and I remember one of the
first things I saw on Google was that like ETFs and ALGOs were starting to invest in this ticker, so it’s like all the
signs were there for me to like either A, not take this trade, or take small size and
just accept a small loss, but instead I think I like can just slam in and immediately make money. So just it was a huge humbling experience. I quickly realized I had
no idea what I was doing, and I kind of almost lost
confidence, you know? You kind of hear me in my video lesson when I talk about going all those longs. I started having like a
lot of negative self-talk, and of course a lot of that was
from longing those breakouts but a part of that was
from this trade right here. Like taking this huge hit in the stomach from just stupidly being aggressive on a trade that didn’t deserve it made me lose confidence
in what I thought I knew about how to short some of these runners, so that was a huge hit. But ultimately I learned like
you gotta be more meticulous. Like look at what you’re shorting. (chuckles) You know, this isn’t like a
pump-and-dump OTC that I short. This is a legitimate oil,
energy, tanker company. You know, I can’t just start throwing size like I know what I’m doing,
and so that was that. The rest of the week the next
best trade I think was ITMC, so again, and this trade is my like more of a bread-and-butter play. This is a promotion, it’s
not a very good promotion. It was very like subtle, under the radar. I’m sure most people didn’t
know this one was out there, but you know, I found it when it had these three big green days,
and so promotion or not, you know, it resembles any other runner that we’ve talked about so far, right? It’s just multiple extended green days, and so I was looking
for the first red day, and you know, I don’t
think I really need to, the interday was very simple-looking. It went red, I shorted, and it dumped. So I covered, I think I tried to swing it for a few more days thinking
I could get more out of it. I couldn’t, so I just covered, made about 1,000 bucks on that one, and ultimately at the end of the week off negative 700 from the bad two days of trying to ride that
breakout and shorting NAT. And so week three, let’s
see some of the trades. So the loss from NAT carried
on with me into this week, and the reason why that
was is because this is when the market really
started to heat up. The first two weeks was
incredibly, painfully slow. Nothing was really that great. Like NAT was the only big, big runner, which is probably the reason why I thought if I could just make a lot
of money it’d be worth it, which you know, obviously
as you saw was not the case. But coming into week
three we see BIMI, right, this massive runner from
under $2 to over 12, or to 12, and then SES from, you
know, again $2 to over 25. Like these two massive runners, and we haven’t seen runners like these in at least a couple months, so we’ve been like kind of everyone in the small cap space has been waiting for these runners to come
back, and they came back, and I completely missed them, guys. I didn’t make a single
dollar on any of these plays. Luckily I didn’t lose money on them, but a reason why I didn’t
even attempt to play them was because I immediately
got skittish from my NAT. Like I said, I lost confidence. I didn’t even aggressively
think that I knew what I was doing when
I was shorting these, and another factor was borrow fees, and this is another hard
lesson that I need to learn is being, just stop being so frugal. Like you know, so a little
background story for me. I’ve always been a more
frugal, cheap person. Not that I’m not cheap,
like if I see something that’s valuable I have no
problem spending money, but when I think I’m being
overcharged for something I immediately like get in my shell. Like I’m like, “Nope,
I’m not paying that,” and that’s how I am in my personal life and that has come into my trading, because on these days when SES and BIMI were having their first red days, or it was likely to happen, the borrow rates at my broker was like 50 cents and 80 cents per share. Now is that ridiculously high? Of course it is, but
look at the range, right? Like say I just took a very conservative like short at $10, okay. From 10 it goes all the
way down into the fives, that’s $5 a share of
upside if I was shorting, and I’m worried about
paying 80 cents a share? Like yeah, it’s expensive, but what was gonna stop me
from borrowing 400 shares, paying, you know, 300 bucks in fees, which I’ve done before, I’ve done that on other plays that I think are good. What’s wrong with paying that much? And then making $4 a share of
upside, you know what I mean? And so it just really hit me home after losing confidence
with NAT to then these where it’s like, “Kyle,
what are you doing?” Just pay the borrow fee, like
that’s part of the business. Like I can’t be cheap and be like, “No. “I don’t want to get charged that much,” because every other
trader’s paying that much and every other trader
who shorted those stocks that day made tons of money, you know? So again, I just was, kind
of added insult to injury where I already was losing,
I wasn’t very confident and then on a play that could’ve given me a lot of confidence back
with massive downside I kind of got stubborn and it was like, “Nope, I’m not paying
that, paying those fees,” when it was really a no-brainer. Like I should’ve been paying those fees. So that’s something I had to kinda accept, and hopefully next time, next runner that comes around I will be ready to pay those fees. So that was that, a
couple of the losses here I believe were DTST, right, here we go. So this had a huge gap up, I forget what, I don’t even think has new. I think this was also another promotion. I think a lot of text messages
and emails were going out, so I was interested in going long initially and then short later. So if we go, let’s go a
little farther back here. Right, so this was the
day it started running, and I still have my
E-Trade account, right? I’m still trying to buy
some of these breakouts, ride some of these lower
priced MOMO movers, and initially I think I’m right. I buy in this consolidation,
and the next new high day. So I’m like, “Sweet, I’m
gonna make money on this one,” and it just dies, you see
the red selling volume here and immediately I take a
loss, so that’s, again, like I said, I was very frustrated when I was trying to long these cause I was just taking so
many losses like quickly, (snaps fingers) like right
back to back, back to back. So took that loss, didn’t
touch it the rest of the day, and then we come into the next day. Now I took about a $300 loss here trying to short this move
thinking it would go red, and then having to cover up in here. And this is very similar to the CVSI trade on the week number one where, you know, it did have a failed morning spike, but I didn’t take a starter, right? I went full size right away, and so that’s what led to a bigger loss cause like why didn’t I
do what I did with CVSI? Why didn’t I take a starter and then add on confirmation
when it ran red? Instead of here I just felt antsy and I immediately went full size, so of course when I stop
out I also lose much more, which ended up being 300 bucks. I then let it move, I don’t
let it touch it all day for the rest of the day,
or not the rest of the day, the rest of midday, and
then all of a sudden we see this start fading, and I remember trying to short here. It was kinda, it kinda got liquid, but I also was okay with it, you know, moving the way it was. Tried getting short a
little bit on this bounce, but ultimately I just
said, “You know what? “Screw it, I’m gonna hit
the bid, I need to get in.” Got in here, panicked end of the day, held overnight, panicked some more, panicked some more,
didn’t take any off here. I thought I got a little aggressive. I was like, “You know what,
I’ve seen this play before.” I’ve seen that this moves before if you go back to even further, you know, it’s had these moves where it has this run and then the next day it’s done, like it’s never coming back. So I ended this play,
I wanted to short it. I held through the second red day, which is what you just saw, and on the third red day I covered. So that gave me my 1,000 bucks here. Came green, 165, not the big deal, but was able to stay green. Then onto the fourth week
nothing really special. It was, let’s see, it was SSFT, I believe. Yeah, so again, this
was another promotion. As you can see, multiple
green days up and down, and I start shorting, right? I think this is gonna pull
and it ends up pulling. You can see here there’s
the three red days, it pulls down to 30 cents. Now in this play I am
short at IB and at Cobra. At IB I cover my shares, right? I put up my limit at 30,
I get filled, I’m done. At Cobra I did not put in my order, and as you can see, I
awfully regret that order, (chuckles) or not putting that order. I could’ve easily got filled at 30, but I kinda stayed stubborn, I waited. I subconsciously wanted
to lower, and it bounces. I almost think, I can’t prove it, but I almost think they
started promoting it again with maybe some emails or an
article, and I missed covering. And I ended up having to
cover for like break even, so that was super frustrating because not covering at Cobra and having to cover for break even, I gave away like 900 bucks,
so that was very frustrating, and that was that play. Now it’s not kind of just fading. It’s not really going anywhere. Another play was CTST. Again, this is another weed stock, so all these like weed runners, as we’ve seen, are bouncing, and I wanted the first red day. So if we go here, go interday, and so I remember this day
because the MJ, the weed EDF, and like CDCG, or CGC,
they were all going red. They were all down two,
three, four, five percent red on the day, and this was the
only one that wasn’t going red, so I was like questioning
like why isn’t this going red? And I kinda started
second guessing myself, like “What if there’s
something about this stock “that I don’t know as to
why it’s not going red?” And so I remember getting
short into this move here, shorted this second like higher low here from the morning spike,
and it started fading, and I believe it was gonna
go red around in the 130s, so it hadn’t gone red yet. And I’m thinking to myself like “Why are all these weed stocks
red and this one isn’t?” It’s like I said, I psyched myself out, and all of a sudden we
start perking over VWAP on this big candle you
see the volume coming in, and I cover, I literally cover dead top simply because I psyche myself out, and again, you know, if
the stock you’re shorting is the only one staying green on the day, it is good to protect yourself. But again, the reason why
I cut it wasn’t legit. Like where did I cut it, what resistance here was meaningful as to why it broke and I should cut? Like I should’ve kept my
risk at the high of days. So I cut it dead top, and as you can see, it just fades away, fades red, and so that ended up being a $200 loss, which could’ve been probably
800 bucks in profit. My goal was to cover
near like the low 130s, so that would’ve been like 800 bucks. So that was this whole week. This was the day, on the 22nd, where Cobra, I didn’t
cover my SSFT shares, so it ended up being break even. 23rd was a Fannie May short
simply because they had a PR that came out saying their shareholders might not get as much value
as they think they will, so that was a quick short, nothing, no special at best in there. Obviously nothing else on these two days, and then the 28th was XNET. This was a really good lesson because finally after weeks
of dealing with the NAT, missing the BIMI and the SES, I finally was able to
kinda pull myself back and realize “Okay, I still know
how to trade NASDAQ stocks,” you know, “I still know
how to handle them. “I just need to get better
at how I manage the trades “and paid for the borrow fees,”
and all those kinda things. So going to this week the stock was up on massive news about bitcoin, or about China accepting
blockchain technology as something that they
should take advantage of, and huge gap up, so I’m
looking to short it. It panics, I start
shorting in this bounce, and there’s a good lesson here. If you can look at the
volume, look at, just compare. Like take a broad spectrum and look at this day’s
volume versus this day’s. Look how massive this volume
is compared to the prior day. Right there, that’s a sign
that this is going higher, and I kind of ignored that, I’ll admit it. I saw it in realtime, but I
also thought “You know what? “If it had this crack
it might not come back.” So I short anyway. Luckily I’m not slamming
in super hard like NAT. I’m not trying to swing for the fences thinking I’m gonna make money on this. I take small size, it starts
breaking out to new highs, I cut it, $200 loss, right,
just notice the difference, $200 loss on something very
small that I’m willing to risk versus taking immediately
$1,300 in losses on NAT, so clearly I’ve learned my lesson. I’m trading to trade better and it worked. Took a very small loss,
which I’m very happy about. Let this trade out through the whole day. Clearly now it’s fading, right? It’s had this hard crack and now it can’t get over
all this resistance level in the mid-sixes, and so I start shorting. I start shorting a little bit here. Cracks a little, but I
add a little bit more. I held through this bounce because I knew this was going
right into the resistance. I didn’t add, normally I
probably like to add into that, but again, I’m still
a little bit shaken up from my losses from my, you
know, lack of confidence. I’m just saying, “Let me just take “my small size and let this ride out.” Panics into the close, I hold overnight, and the next day we have a huge gap down and I don’t even wait for the open. I cover right into this
move for I think 400 bucks in this day, so that was very sweet. That was, you know, only,
I’m saying only 400 bucks, but if you actually watch my last monthly recap video lesson in September I talked about how, you know,
a lot of my trades unlisted is where I’m taking like this huge loss, and then I’m making this gain, but that gain is barely
making up for that loss. It’s not even twice the size, so I was very happy with this trade because losing 200 and
then taking a good trade and making 400, doubling that loss size, made me really happy. I realized, you know,
I’m fixing my mistakes. I’m getting better at it, and so that was, even though dollar, in terms of dollars, like I made 200 bucks
between the two trades, it’s not that big of a deal,
it’s not life changing, but the lessons and the
ability that’s showing, or it’s the ability in me that I’m being able to show I can refine my mistakes and get better from them,
that was also really, really huge and a huge confidence boost. And so it starts, you know, bases. It now has a bounce,
and this is now today. I actually shorted this bounce, right? Because if you look at this,
look where it bounced to. The high of today was like sixes. I think it was, it was six,
and look where that is. That’s in all this resistance right here, you know what I mean? So for it to actually breakout of this, it would need so much more volume, and again, look at the broad spectrum. Look at the volume on today versus the volume it had
on the top day, right? Massive difference, so
clearly there’s subtle signs that you can tell this
isn’t gonna break that high. So I let it top out at six. Unfortunately I missed
this entry right into VWAP, but once I saw it fail I realized “Okay, I want to short this.” I short in this move, it panicked. Let this consolidate,
it covered a little bit, and then covered the rest into this pull. Didn’t want to get too greedy. Didn’t think it was
gonna go red on the day because there was some news, you know, whether it was fluff or not it
made it somewhat legitimate, and so that was another
two-fifty bucks, 250 bucks, so that was cool, that was on this day, but sorry, I kind of got ahead of myself. This day was the moneymaker. Like I said, my bread-and-butter made my entire month, and that was PXPP. So clearly if you recognize a promotion when you see it, this was clearly it. I have thought this was
gonna be a bigger promotion, but the moment it was
starting to get promoted OTC markets hit it with
the skull and crossbones, the CE right here, so when they do that it pretty much killed any
chances this pump had, that’s why you see this panic, you know, from 30 all the way down to 10 cents, but that didn’t stop them;
they just started promoting. And they weren’t gonna get
it as high as they wanted to, but they kept promoting,
they were promoting, and so if you’ve seen my
very first video lesson, I’ll link, you’ll see like a link up here or I’ll put it in the description below, I go over how I short these. So I’m not gonna get too
much into it on this video. You can watch the other one where it has how I do it in detail, but you know, every day I’m just adding
a little bit, right? And I’m not like saying
holding it forever. I do have a risk in mind, I do think, I did think that this was in the 40s and it could probably, best
case scenario, go to 60. I thought if it went to 60 I’d cut it. That would be worse case scenario, but as you can see, it
never even got there. The high of the day, the
high of the pump was 45, and I remember adding on
this first decent red day. It dumps, I then cover
on the 20, what was it? 29th, was that it? 29th, yep, for about $4,000. So like I said, at the end of
the month that’s the entire, that’s my entire month right there. So to be able to make that
much money from the setups that I know already work
really, really well for me and then learnt all the lessons
that I mentioned earlier and be break even on those, I’ll take it. You know, I’ll take it any day. So that’s my month pretty much, but the last part is the
cutting out the mistakes part. This was the biggest
lesson, or not the lesson, but the thing I like to do
and I recommend that you do, which is kind of
quantifying your mistakes. So you know, all the longs
I tried to buy breakouts in. That ended up being $1,200 in losses. That CTST loss that I cut, that I cover, or that I cover right into
that pull, or that push, let’s see, let’s go
back to the chart here. Right, instead of making this, or instead of covering like this mistake and letting it pull
back, that was gonna be another $1,000 in gains, or $800 in gains. You know, covering my
SSFT in my Cobra account instead of being greedy and
not putting my order in, that was 900 bucks. Paying my borrow fees for BIMI and SES, that was gonna be, I mean I can’t say how much I was gonna short, but you know, if I made $2, $3, $4 a share and only paid in 50 cents a share in fees, you know, you know how that’s coming out. I’m making at least a few
hundred dollars, maybe 1,000. Maybe if I really got
aggressive and wasn’t, you know, didn’t deal with NAT I
could’ve made over 1,000. So you quantify those mistakes, and all of a sudden instead
of having a $4,000 month I’m having a six, seven,
maybe $8,000 month, right? All these mistakes that you can quantify and allow yourself to see “Wow, if I didn’t make those mistakes “this is how much I could make.” That’s motivates me, you know? I don’t use it as a way to beat myself up like “Oh, you suck.” I use it as a way to
tell myself, you know, just imagine if you were
to remove these mistakes, that’s how good you can get, right? That’s the potential,
that’s where you can go if you remove those mistakes kinda thing. So that’s pretty much it, guys. You know, I hope you liked it. I hope that you learned as much as I did, because I learned a crap ton this month, and I’ll be looking to use these lessons going into November, you know, trading these listed runners well, and better than I have before. So we’ll just keep on
grinding and getting better, and I’ll see you guys next time. Peace out, later.
(upbeat music) – Hey, Tim Sykes, millionaire
mentor and trader. Thank you for watching my videos. I hope that they help you.
(upbeat music) 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. (upbeat music)

29 thoughts on “Monthly Lessons From My Newest Six-Figure Student

  1. I TOTALLY AGREE….U AFTO TRADE MARKET CONDITIONS? EVERYDAY IS DIFFERENT…IT MIGHT WORK 2DAY? DONT NECESSARILY WORK 2MORROW? AFTER LEARNING 4 THE LAST 2YRS IVE FOUND THAT IM GOOD @ ADAPTING…EVERY SINGLE TRADE IS DIFFERENT FOR ME…IVE PRACTICED EVERY METHOD U CAN THINK OF…N THEY ALL WORK..NOW…IF IM NOT COMFORTABLE TO ENTER I WONT…ILL WAIT SOMETIMES ALL DAY 2 MAKE A MOVE N WHEN IT COMES IM IN N OUT AT THE SAME TIME AT TIMES…SUPER PATIENCE 4 ME IS KEY…N TRADE WHAT U UNDERSTAND…IF U CNT READ THE PATTERN LEAVE IT ? TRY TO BE MORE VIGILANT WHEN U TRADE…STUDY EACH STOCK BOUGHT/SOLD PROFITED/LOST …EVERY STOCK HAS ITS CHARACTERISTICS…LEARN IT…TRADE IT WHEN U C WHAT U R LOOKING FOR? BE N EFFECTIVE ? NOW IM SOOOOXXXX RELAXED…N MORE CONSISTENT 99.99% OF THE TIME..TRADE LESS? MAKE MORE…LOWERS YOUR RISK BIG TIME?

  2. Kyle is one of my favorite students you have. I follow him on Twitter and I subscribed his YouTube channel.. he’s fast, detailed and he seems like talking to himself, and walks us through his mind and his thoughts. Personally I learn a lot from him..keep it up.. perfect job.

  3. Always good to document and reflect on all your past trades. Was trading $CLVS today Live and got a 10% breakout bounce which I was only ready for because seeing this pattern over and over.

  4. Thanks for sharing this content. It's great to see just how significant a role psychology has on trading. Have a plan, stick to it, and cut losses quickly when the trade goes against you.

  5. the main thing i learned from this video is not to buy into a stock from fresh news, it takes a while to effect the stock, and i am learning not to push trades have to be patient.

  6. I've been learning a lot about trader psychology and this video opened my eyes to my own psychology. Far too often I beat myself on a bad trade instead of using it directly as an example of what to do better. A loss doesnt have to be account breaking to teach me a lesson.

  7. Lesson – YOU MUST BE METICULOUS! TRACK EVERYTHING YOU CAN!

    Lesson – look at the strength of morning spike if he is only a couple of cents and then we see strong red candle with increasing Volume we need to close positions if they are Long.

    Lesson – focus on your strengths, setups, tactics. Be patient and wait for your setup. If you want to try something new, then small down your position and trade to learn this thing.

    Lesson – Before entering a deal, find a minimum of 5 reasons in order to don't force an entry.The market is a place where many lose money. Be like a cold professional

    Lesson – You cannot cheap in this industry. Pay your fees!

    Lesson – Compare the volume of the last day and today, if today's volume is much bigger then its a good bullish signal.

    Lesson – Close your Short position near HOD, so to not get in trouble due to a dead spike. RISKIER LESSON

    Lesson – If you have an OTC stock + Caveat Emptor, it means Pump will end soon if there was one. The stock is dying

  8. Informative video! I may be wrong, but i noticed a couple of the trades were done at low volumes. Wondering if that may have affected your losses? As far as broker fees, it's not being cheap if you have a small account because your on a tight budget. But once your start increasing your money size, it shouldn't be a big deal.

  9. I look at all the videos and i always learn that trading is about consistency in studying and anybody can do this thru patience and effort! Thx Tim and shouts out to all the new students teaching others!

  10. Thank you for this video Tim! 🌹I have been studying your books and videos with practicing paper trading since June of this year average 5 hours everyday even wknds. Loving it however, feels like I am again studying for my masters as there is so much to learn. Today Nov 8, I had good results with CLVS (good volume till 4 pm) and learned many dos and dont's. I played without impulses and earned gains on 3 trades! Kyle is so right and practical. Furthermore, I learned one ticker at a time in the am morning spikes and/dip buy is working in my practice.

    I will be surely joining profitly soon to observe other learners. Still trying to figure out the relevance of stats and pattern data to design my own Niche'! ✨

  11. I just learned that people some how make profit when the price is going down by shoting and covering. How and why I don't know.
    on my 2nd time reading your book: I was moving more comfortable and quickly than first time and I am about to start "Happy New year."
    thanks for the video.
    🤝🤗🤝

  12. Awesome video, great job Kyle!!! Take away on this was crucial, #1 cut losses immediately when the trade does not go your way, #2 stick to your risk levels, be it the chart or monetary value, #3 Take profits when the trade meets your goals and not try to go for home runs. Thanks for sharing Tim…

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