New Beginning

Today was the day I'd make my return. I took a break from the markets for a while to really look at my problems and to actually focus and come up with a strategy I can work with. I didn't want to be aimlessly clicking away hoping and praying a trade would work out as many times before. I wanted for once to trade with a solid plan and relative confidence. I took some time off and did just that.

Now all I could think about the entire time away was getting back and all of the things I was gonna do this time around. After my first day back I can say I still have much to learn. I am still trading with too much emotion. My entrances and exits are piss poor still, but the most important thing is that I have a solid plan. 

I came across a man name Meir Barak who trades like a boss. I highly highly suggest his youtube channel. There is just so much solid information on there. After watching countless videos of Meir trading I came to the conclusion that I need to know how he does this. What is his strategy? Well the next couple of weeks I spent some time doing some researching, learning, and listening. Meir's primary strategy is trading gap plays. Specifically those gaps created that are 3-4% or greater (up or down). He looks at price action and has an eye for reversals. I can imagine he has been trading this way for years and refined the overall strategy tediously. This man just really knows how to trade and he shows everyone how he does it. I think that is why I admire him so much. The videos he creates are so easy to understand. Definitely check him out!

So today was the day as I began with. I found my gap plays (many of them) and picked a couple. Bare in mind that I trade from a macbook and that I do not have multiple screens to keep track of every move in every gapper. Its a hell of a time trying to watch more than 1 or 2 stocks at a time while also watching the $SPY and getting a feel for which way the market is moving at that current time. Today it seemed that there were many opportunities to enter trades but I tried quite a few setups I liked and I just simply could not click fast enough to enter a trade. I did notice however, that if my price had filled I would have had an amazing time. But, coulda shoulda woulda. I'll leave it there. The bottom line is I need more space to watch trades meanwhile having my trade screen visible at the same time to press the submit button. A plan to upgrade is already in the works. I made 2 successful trades today!

 $FTK and $SPHS let me tell you. Both scared the shit out of me. $SPHS was the first trade I entered. 

$SPHS was gapping up quite significantly. I saw what I thought was a reversal and entered short 400 shares @ 9:34am at $3.00 a share. My thinking was that it was gonna break down past the lows for a nice play. The problem was for me was that the stock moved so darn quickly. It was scary. Thats how a lot of these low float stocks move though. Needless to say I closed the trade at $2.94 at 9:41am all because of a spike that scared me out. Had I let the trade work. I would have been a happy camper, but I didn't. Regardless I made a few bucks nothing to write home about but atleast it wasn't a loss. 

$FTK was another gap play today. This one gapped down a giant percent. I saw a play that was indeed due for me to short. This stock was also a bumpy ride. Float was a little higher on this play but it still moved like crazy. I entered the trade around 10:20am and exited at 10:50am. I made a nice .24 cents a share but when I initially entered the trade it spiked from $9.83 to $10.17 in a couple seconds. It scared the hell out of me because I remember the bad taste in my mouth from the previous big losers. For a second I thought here I am 3rd or 4th time refunding my account and I'm about to lose it all in 1 trade this time. Needless to say I just held it out because I remember Meir saying in one of his videos if something goes against you really fast it'll usually return back to where it was trading. It did and I let the trade work out. Took my profits and closed my screen. Although looking at the aftermath of the stock I realized that the low I thought was going to hold ended up going lower than I anticipated missing out on a really nice gain. coulda shoulda woulda. I'll just say that again. 

At the end of the day I made money. I live to trade another day. Thats the most important thing for my survival. Stay alive to learn to trade another day. 

P.S. I jumped around a lot on this blog. I'm obviously no star writer but I did my best to keep all my thoughts in order. If there is anything anyone would like to see or know please feel free to leave a comment or question. Thanks for reading and stay tuned for tomorrow! 

The Beginning

Hello to everyone who is new to reading my blog. Welcome! I just want to begin by saying thank you for deciding to come to my blog to read what I have to say. My name is Tim Pettigrew, I am 22 years old. I have an extreme interest in the Stock Market and everything that goes along with it. It is fascinating to me. Now it hasn't always been this way. In high school I could have cared less about what was going on down on wall street. Today is quite the opposite story.  One day I was browsing the vast internet doing what I do best wasting time until low and behold I come across this man claiming that he turned $12,000.00 of his Bar Mitzvah money (which seems like a lot to me) into over 2 million dollars trading OTC stocks. This was not on purpose.  I don't know if any names may come to mind when I mention this but I'm sure if any of you have done any simple google search on penny stocks, one person who has made a name for himself comes to mind through his outlandish online character.  That man is Timothy Sykes. I came across Timothy Sykes with extreme skepticism. I thought to myself there is no way that he turned that hefty amount of cash into that much money. I then did what everybody and their brother would do I delved deeper. I was curious, I wanted to know who was this Timothy Sykes. Is he legit? Is it a huge lie? Is it just another person on the web thats trying to scam you out of money? These were all valid questions to me at the time. After a lot of research I came to the conclusion that yes this is probably real. However, it wasn't for some time that I followed him and quickly grew annoyed with his online presence. I'm not gonna speak on the topic of his subscription and whether or not it is a sham. I do believe there is knowledge to learn there however do I think he does take advantage of newbie traders and take positions knowing that if people follow him he can always make a profit here and there. It is what it is, regardless theres information you could benefit from. It just sucks you have to pay for it. In any event Timothy Sykes is the reason that attracted me to the stock market world. Ive gone through several ups and downs in regards to account increases and account blow ups. Follow me and my journey towards a successful trading career!