If you trade mainly using Tim Sykes's strategies like I do, you'll notice that there's been very few good Sykes-like opportunities the past few days. It's times like these where it's best to just stay all cash. I didn't make a single trade today. Remember, cash is a position too.
Not to say that there haven't been good trading opportunities the past few days. There have been, but those opportunities are only for the people with a lot of capital and the ability to scalp and day trade freely. But for the small account traders like me, it's best to be patient.
“WHAT REALLY HAPPENED LAST FALL”, EIFRIG VIDEO
15 hours ago
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3 comments:
VERY IMPORTANT POST RIGHT HERE... The Average Tim Sykes trade brings in 13% for myself. It can move my portfolio 4-8%, sometimes more depending on position size. In a month, your portfolio can quickly be up 10-15%. That translates into 300% annually. It's getting those 3-5 trades in the month that drop 10-20%.
Speculating on a stock just doesn't cut it. Tim's stocks are not speculative. It's a fact they're eventually going to drop. People don't understand the pumpers create a bubble in a stock and unload at the top, creating panic and fast drops.
Great point! I made no trades 5/3-5/7 for this very reason. I don't want to be out of daytrades or wrapped up in an underperformer when a great opportunity strikes. Think of all the losses longs suffered on 5/6/10 by being long at the wrong time and in the wrong stock(s).
Thanks for the comments, guys!
TMcNasty, saw you took a hit on MCGI today. I took one too.
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