Happy Holidays Everyone!
I hope you all are enjoying your day off from the market and the half day yesterday. My family celebrated last week so I have been spending this week studying my tail off!
I want to recap on my year of trading, the beginning, what I have been learning, and how this is my first experience of the “January Effect” that Tim Sykes has been preparing us for.
The beginning of the year was the start to a journey I never imagined finally coming true. I was starting to develop a very important rule that I didn’t know would mean the difference between success and failure. Learning to cut losses with toxic relationships and moving back in with my parents proved vital to my growth. The next step, enrolling in college to complete my Bachelors Degree while pregnant. Within a week of moving back I landed two jobs that eventually reduced to one due to the holiday season ending. Forex was proving to be too much for me to handle with this terrible pregnancy brain that I was experiencing. A few weeks later I ran across an ad that felt honest, it was Timothy Sykes. Immediately he had my trust. I made sure to schedule an appointment to join his Millionaire Challenge https://bit.ly/3a8T4Ki . Wanting it SO bad, VIP was the only thing on my mind to prove the first step of my dedication. My nerves were racing, excitement beating in my chest. In my mailbox was the signup to my Tim Sykes Student Portal. There was Trader Checklist and other videos. I watched these like crazy. Not knowing if I filled out the schedule correctly, more than one interview was scheduled by me.
Nearly crying when I missed the first phone call, I kept calling and leaving voicemails apologizing. I thought I blew it. Ultimately, I was denied the challenge, but took away valuable notes and was encouraged to save for a bigger trading account. Only having $500 available at the time, I didn’t get discouraged, but knew I needed to save every penny (literally watching the ground for extra change to help save towards trading) to be able to devote to my education, best trading software Tim recommend (Stocks To Trade) and to begin with at least a $2,000 account. This turned out to be the beginning of the best thing that could have ever happened to me.
Of course, I wanted to be a part of the challenge, but the denial of my dream only encouraged me even more. This is when I became Timothy Sykes Outside Millionaire Challenge Student. I gave myself my own VIP status. My encouragement? Knowing I would have an incredible story to inspire myself and others who truly believe in themselves and their dreams. If they won’t let me in, I will be a millionaire student (or self sufficient student) who never joined his challenge.
I devoted myself to watching EVERY Youtube video Tim had, his students had, and all of Timothy Sykes blog posts. I took advantage of every bit of free content he had. Any question I had was answered in all of his videos, Google, blog post. Anything I needed to know, he already had on the Internet for free. I couldn’t believe it. Stocks To Trade videos were free including live Webinars! Tim Bohen really helped me too.
Intimidation was never really a factor for me when it came to the world of Penny Stocks. Repetition has always been key to my success so preparing myself for years of training, submersion into the trading language, and mass studying until I became confident was my ticket to become successful. My goal is a marathon and not a sprint. I want to see progress in five years. Now 1 year has almost come to a close.
How long did I study?
I studied six months straight, all day, every day, non stop before I saved enough to pay for an annual subscription to Stocks To Trade so I could begin paper trading and familiarizing myself with the software and everything that has been explained in videos. Studying was very easy for me as being pregnant made me so nauseous and exhausted that resting in bed was necessary for my health. When I was out of bed, I worked which made me able to save for a deal Tim Sykes gave out with his How To Make Millions Dvd. All of this free or cheap content on repeat prepared me for my first day trading.
I remember it clearly, CETX June 27th. First Green Day, Top % Gainer, multi-month breakout. This was the first time I had been able to practice Technical Analysis. I saw news but I don’t remember it. It was something positive I think. Anyways, the stock was spiking and I knew I wanted 100 shares. Locking it in and writing it down, the stock soared! Not paying attention to how much that would have been invested, all I knew was my first trade ever was a profit over $200! My studying paid off. I did this every day. Study, work, Trade, Sleep, Repeat. Oh, I was in college too so midterms every other week and finals every other week. I still study continuously while in college, working, and parenting. It never ends! LOL
April was when I gave birth, I had to leave in the middle of one of Stocks To Trade’s live monthly webinars. I had class that night, and I just finished my midterm before the webinar.
This definitely changed my studying a little bit. I was working, still in school, and now have a baby. Sleep, thankfully he loved naps. My routine wasn’t much changed. Still Saving, Still Studying, Still Determined. But now I have the Complete Penny Stock Course by Jamil Alluch. I would read this to gain better insight into the world of penny stocks.
Twitter was very helpful for me to learn and read consistently what Tim would post. My goal was to read and watch everything he posted every day. Following the instructions of that book really helped me. Beginning this blog was part of the instructions. This is how I keep track. Finally, I posted a trade, I don’t quite remember, maybe it was the picture of receiving the book and posting it on Twitter that Tim Sykes first retweeted. That was so exciting and scary for me! This was the beginning of holding myself accountable towards success.
A few months later I was diagnosed with stage 2/4 cervical cancer and I still studied. There is a lot of history of cancer on all sides of my family, but with modern technology, worrying was the last thing I was going to do. After all, I didn’t have time to worry when all I focused on was my baby and how I am working hard studying to provide a positive future for him and my family. My mom and baby came to visit me before I went back for surgery and she thought it would be funny to get a picture of me once I passed out from Studying some videos of Tims lessons.
There was no fucken way I could give up now. Success is the ONLY option by this point. Before I was under the radar, no one knew of me, no one cared. Nothing Mattered except my own determination. Now I felt a bit of spot light. Like I have to be a successful female trader. I liked this pressure. I studied even more. Is that even possible?
I made the investment on a one-of-a-kind deal to join the Millionaire masters program after being denied a second time for the challenge due to finding out how much the cost was while taking a family trip to visit more family in California soon after Christian was born.
So here I am in the Millionaire Masters Program https://bit.ly/3a8T4Ki , received an email that I made the cut just in time to get a ticket for the Orlando Trader and Investor Summit for 2020 https://bit.ly/35Tfhsq . Tim personally asked me if I would be making it to the September 2019 Summit https://bit.ly/2TnvZNX so he could meet me. Unfortunately, it wasn’t in my cards and I felt disappointed in myself like I was another trader with another excuse. Uph. That was hard to message him saying no. I cried then too. Now this program is holding me accountable and I WILL be there coming 2020!
Coming up to One year later, I have nearly experienced my first bit of craziness!
Stocks soar, stocks panic, and emotions follow suit. Next post I will write about my trading psychology. I have been asked many times about my story so this is why I decided to do a year recap. Cutting losses quickly has been such an important lesson both in and out of stocks. One of the biggest take aways I have learned over this year has been cutting losses quickly because you can make up all the losses the next time or two around. Both in life and in trading. Don’t let that negative trade/life experience add up too much that it blows up your account or messes with your life to a point that would take even longer to recover.
Because I have been studying stocks day in, day out, night in, night out — I can say I am on my way to success. I have nearly made a few thousand in paper trading profits and am beginning to research into E*Trade as a broker and will begin finding an accountant that understands everything I need to prepare for.
This is also my first experience with the “January Effect”. Tim has been mentioning this in videos from over the years and has been writing newer blog posts regarding this time of year. Apparently a lot of end-of-year selling is occurring due to end of year tax cuts or something. (Don’t listen to me 100% as I still need to memorize this effect) If I remember, this is when people sell off losing positions so they can claim it on their taxes and can always rejoin a stock once the next year has begun. So stocks that have been continuing super low have new opportunities to spike/mixed with holiday trading where new traders are trying to dip their toes into the market since they have all of this spare time. I recommend reading his posts to gain a better understanding of this as what I am typing is what I remember from this and won’t understand fully for a few years and until I go live and contribute to trading taxes myself.
So be aware of massive spikes and as always, research Top % Gainers. I will also do a future post on my scans that I have recently been testing out the past week or so that helps me decide on my favorite kind of setups without searching through every stock in the market like I have been doing since I began. LOL.
Sorry for such a long post. A lot of people have been asking me about my story so here it is. Thanks for sticking with me this far. I hope this motivates you and helps you define and establish some goals along your trading journey. Happy Holidays Everyone and next few posts will be geared more towards trading, psychology, and scans.
I want to provide a small disclaimer:
I am in NO way a professional nor do I claim to be. I do not manage anyone’s money nor do I want you to follow my trades. My posts are solely for entertainment purposes and for myself to become more transparent on my trading journey. I use these posts to track my own progress. I do NOT recommend you try my strategy or jump into trading without a verified guru/teacher. I am an untrained trader who has been practicing for a few months and a few days with paper trading on StocksToTrade. I am up +$7000 since the month of June 27th, 2019. By the time you read this I may or may not have traded the stocks I post about. I will not guarantee you will profit from trading as 90% of traders lose. To become consistently profitable is not a typical result. I am in NO way responsible or liable for your decisions or actions as a trader. I, again, am not professional so there will be grammar and spelling errors. Just because I suggest something does not mean your results will be the same as mine if you try. My suggestions are what I am doing, have tried, and what may have or may have not worked for me.
Hello there, My Name is Tessa Lamping and
thanks again for reading my blog!