Added: Dec 5, 2008
From: AirelonTrading
Duration: 5:41
My Daily Blog is at: http://investorandtrader.blogspot.com/Some time ago, I had a series on "How to Begin". We discussed getting started with Investing, rather than trading. Well today, we're going to talk about your first trade, as opposed to your first investment ...NOTE: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research and risk tolerance. Included Music is by Paul Young. A personal friend and is not a part of any music license, recording label, etc
Channel: Education
Tags: airelon challengeproject firsttrade forex futures howto macd moneymanagement numberofshares rsi stockmarket stocks trade
Rating: 5.00 (5 ratings) Views: 321' favoriteCount='1 Comments: 10
AirelonTrading Says:
Dec 5, 2008 - Then how is it that he started over again with $13,000, and in just a few months time? Has done it again. Since only November, he's risen from that 13k to returns of 825%It's not luck. He's repeated his performance.He DID make a huge mistake with his fund. But that was a stupid mistake by breaking his rules. But he did it all over again, and it's been audited at Covestor.
Renegen1 Says:
Dec 5, 2008 - You're the expert on money management, tell me what sane technique he used to get a 825% return in 10 months. He probably gambled that again, at best. He "honored" us with a visit on EliteTrader and I can't believe what a immature jerk he is. He's full of himself, he's all about marketing etc He doesn't have 1 skill or personality trait of a successful trader.
Renegen1 Says:
Dec 5, 2008 - And don't forget with his cool 13k he's subject to the day trader pattern rule. The guy needs to disappear already. I hear elderly homes are hiring.
AirelonTrading Says:
Dec 5, 2008 - He usually risks 5% to make 10%, and he has a greater accuracy rate than 60%. Now as to his personality? That's a completely different matter. But personality, and making money are two * totally * different things. As Buffett says"Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars."But when it comes to the pennies, he does know what he's doing. He's a good scalper
AirelonTrading Says:
Dec 5, 2008 - He found a couple ways around, what I believe is a complete inane, and stupid rule. He timed what trades he held overnight, and what trades he actually daytraded in the beginning, until over $25k
AirelonTrading Says:
Dec 5, 2008 - I know how to separate trading skill from personality. Tim actually views himself as a mediocre trader; and thinks there's a lot of areas he could improve.But if it's one area he has NAILED down, it's money management.You can't scalp your way to luck. Not with hundreds of trades. It just can't be done. The moments of drawdown would wipe out any gains. He has his money management nailed. Money management is proven over hundreds of trades.His personality? That's a different matter.
AirelonTrading Says:
Dec 5, 2008 - And one personality trait that he definitely has, in abundance, is self-confidence; which I actually get into next week. That's another area, where I think we will agree - that Tim has an OVER abundance of.But good traders need a TREMENDOUS amount of self-confidence. That leads back in a circle to money management. You sabotage your self-confidence, you sabotage your discipline, which destroys your money management.
Renegen1 Says:
Dec 5, 2008 - 2 to 1 ratio? 60%? Is that really a scalper? Those don't look like scalper numbers to me. How do you know he's a good scalper, you saw him? And where is that information taken from? Covestor? The guy already managed to get reviews deleted on Amazon, I wouldn't put it past him to do worse with other websites. I still reserve the right to think he's a tool.
AirelonTrading Says:
Dec 5, 2008 - I've followed quite a few of his trades. He does what I believe any educator should do. He talks about the setup as it's happening. He shows everyone his entrance. Then he shows everyone his exit. "I still reserve the right to think he's a tool"And again? How does this disprove he's not a good trader? I'm not saying you're wrong,a nd a couple of times, I've told him: "Tim, THIS IS WHY YOU HAVE A HARD TIME WITH PEOPLE". But that doesn't relate to his trading.
Renegen1 Says:
Dec 5, 2008 - Tim Sykes? He's a tool. He got lucky and is now a full time guru.