Description

My basic trading philosophy can be summed up by one simple quote:

"Trade the ticker, not the company" - Nate Michaud


Friday, March 7, 2014

My Least Favorite Email to Receive

Many of you will be surprised by the image I'm about to post. You probably expect to see a random newbie question or some troll mocking me for a recent loss. Instead, here is the email that makes me cringe every time it hits my inbox:


Read it closely- the details are what upset me so much. I can't stand seeing people sign up for "TimAlerts." This is not a knock against Tim Sykes, I'm a big fan of his "Pennystocking Silver" and "TimChallenge" programs. The reason I get so annoyed by people signing up for "TimAlerts" is because it's exactly what it sounds like, a trade alerts service only! If you review my posts for beginners, I state MULTIPLE times that trying to follow alerts is the wrong way to approach the stock market. You need to educate yourself, not be a blind follower. 

If you're going to pay money for a guru, please at least choose a plan where you can learn something. You're not going to make money or learn to be self-sufficient by being a sheep. Choose a plan that has video lessons, webinars, or some kind of educational content. Otherwise, the vast majority of you are just flushing your money down the drain.

30 comments:

  1. Some people are just dumb and expect to be given everything. This isn't for everyone.

    ReplyDelete
  2. This comment has been removed by the author.

    ReplyDelete
  3. Tim G,
    You’re exactly right sir. That old saying, give a man a fish, feed him once. Teach him to fish, feed him for a lifetime. Thank you for the time you put into teaching us new fishermen how to fish. You take time out of your life to give to us. Money, you can make more of, time you can’t.
    Thank You For Your Time,
    Dean

    ReplyDelete
  4. Hey Tim,
    I completely agree and thanks for your honesty and professionalism. I want to educate myself and pursue trading. I'm leaning towards profitly, possibly Nate. Is this the direction a newbie should go in pursuit of a thorough educating? Thank you again for answering my questions.

    ReplyDelete
  5. I have personally purchased Tim Alerts and use it to access the learning materials and resources that are available so I can't say that it is all that bad. It's just through my experience and suggestions that people make such as yourself led me to not blindly follow. Maybe the idea of it being an alert just needs to be re-branded because to the not so experienced trader it is almost setup to have you fail. So I appreciate you sharing your experiences, it is honest and explained in easy to understand detail that is making feel more confident on my journey.

    ReplyDelete
  6. Tim,
    I know this seems frustrating when you see an email like this but think of it this way, many people see "See how I made 12k into 1 million in 3 years." Now how many times have these people invested in similar sites and have been scammed out of their money. People with very small accounts(such as myself, starting out with 2k) are weary to subscribe to $100 a month not knowing fully what Tim S is all about. I believe that TimsAlerts package is a perfect stepping stone to at least start, so that people that are less luxurious can see that Tim S is the real deal and see that he actually has a "Strategy" before buying into the silver package.

    ReplyDelete
    Replies
    1. I definitely understand your point. My main concern is that people signing up to any alerts based service will get frustrated when they're unable to match entries and exits. I would be much quicker to lose faith in the program in this situation, compared to if I had invested more time to actually learn the strategy properly. Glad to hear you find the blog helpful though, thanks for reading!

      Delete
  7. With that being said, I still greatly appreciate your blogspot, it especially has helped me to understand level 2 more efficiently and I learn a lot from it daily. Thank you.

    ReplyDelete
  8. Tim, could you make a blog about best route for OTC trading. i chose SpeedTrader because of you and now their best route is out, what is your take on it other than your twitter post
    kroyrunner89 ‏@kroyrunner89 Mar 7
    Etrade might actually have better OTC fills than speedtrader now lol. The NITE route is a clusterfuck and they shut CSTI down. crazy!

    ReplyDelete
  9. Mr. Trade the Ticker

    You could not been so right about this this notification and how people just blindly follow someone because they see the success they have and want to just copy it with out doing your own research. Your video at the conference really gave me some insight on how i should approach the market and chasing Tims alert has not always been successful but i must say with the teaching you are doing in your videos and on your blog as really been helpful. Thanks for keep it 100%

    ReplyDelete
  10. for me is simple. i use the chat. i havent trade anything in tim's watchlist they are too expensive for my account

    ReplyDelete
  11. From personal experience, this is so true! God this is one of my favorite posts of yours

    ReplyDelete
  12. Shouldn't people be using the timalerts for the watchlist and then watch how he trades it? or are the tim alerts not off his watchlist?

    ReplyDelete
    Replies
    1. Sometimes he alerts stocks that weren't on his watchlist at the start of the day, things come up. If you're using the alerts to learn from them, I guess it isn't that bad. Just don't be a sheep and blind follower

      Delete
    2. hey tim,
      could you explain more about "shorting into a spike".
      whats the dos and donts in relation to that.

      Delete
  13. This comment has been removed by a blog administrator.

    ReplyDelete
  14. I am a TIMalerts subscriber. The reason I went with TIMalerts is because at first I was skeptical so I went with the cheaper plan to get a feel for Tim S. and see if he’s real or not. Without a doubt you & Tim S. are the real deal.

    I do use Tim’s watchlist, but I don’t short stocks, I’ll buy them on the bounce. So I’ll watch Tim’s watchlist and see which tickers he is going to short. When he shorts a lot of his subscribers follow suite and short also. When Tim starts covering (or when I see price action show shorts are covering), I’ll start buying the bounce. I’ll get a 10-30% bounce off of his shorts. So I have found a way to use his watchlist. I also use the chatroom.

    But I’ll be upgrading soon and I’m also either going to join Superman or Nate. Not sure yet.

    ReplyDelete
  15. I can understand your frustration, but you need to look at it from our point of view. Some of us are just starting out and don't have a lot of money. In a way, we're like you when you first started. Learning about stocks is like drinking through a firehose. I'm not a subscriber yet, but if I can recover some losses that I've recently had, I'll be jumping in very soon. You and Sykes are awesome studies.

    ReplyDelete
  16. Found this blog post by Tim Sykes in which LX21 shows with example as why not to follow someone else's picks blindly. http://www.timothysykes.com/2010/11/best-guest-post-ever-from-a-trader-who-makes-1-millionyear/
    Made ton of sense. Thanks Tim G for this post.

    ReplyDelete
  17. Tim, thanks so much for doing the blog. It's helping me immensely. Cancelling TimAlerts, bought Textbook Trading dvd, reading this blog...thanks.

    ReplyDelete
  18. I hear what you are saying, is it worth buying his dvds, and if so which ones because they are pretty expensive.

    ReplyDelete
  19. I've purchased Penny Stocking part Duex and studied the balls out of it. I recommend it for anyone interested in seriously trading OTCs.

    That said, not all of us have the luxury of discovering this in college with moms money to trade off of. For some of us with very real responsibilities and 9-5 time constraints the only way to trade on a small account is by getting an alert and executing the trade via mobile device.

    You shouldn't just assume that this is out of laziness or lack to willingness to learn. Just the reality of life.

    ReplyDelete
    Replies
    1. Where above did I say laziness? I'm glad you're willing to learn, next lesson is that tailing alerts will get you nowhere. You can't match entries/exits. I'm sorry you have to juggle this with a job, I tried that once too and learned the hard way. For those with other commitments, finding a good swing trade strategy would probably be the best approach

      Delete
  20. Bill,

    I'm in the same boat, I have a 9-5 and do most of my trading on my phone. My only saving grace is having 10+ years of writing C#. I've been working on a super super rough trade analysis program that does all the grunt work of staring at candlestick charts for me and running stock price data against a handful of technical indicators.

    ReplyDelete
  21. Hi Tim, I really like your blog and your story. I want to learn how to trade and prosper like everyone else do. I see Tim Sykes and his story seems really good. I want to find out how did you learn trading to the point you are now. Was it Tim Sykes that taught you what you know of trading and then you fine tune what he taught you? or did you learn all the rules by doing your own research and then trial and error? Please advise. If you want you can e-mail me your response at mrjart89@gmail.com if you feel the response is too long.

    Thanks a lot Tim.

    ReplyDelete
    Replies
    1. To be honest it was a combination of both of those things. I also got a lot out of investorsunderground.com, that's the other service I very highly recommend. Remember though, I lost for 6 months before I got anywhere near consistent. That self-experience is going to probably help the most, and learning from your mistakes and losses.

      Delete