GOOOOD MORNING EVERYONE!!!!
I first want to say thank you to all those who have helped save many lives during that tragic time on 9/11. Although I was very young, I remember my parents watching the news of such devastation. Recently, I watched a man pass away from cancer years after he had helped save some lives that day. May everyone rest in peace and thank you for your courage.
Questions and Answers
A lot of people keep asking me several different questions when it comes to my setups, what I look for in a stock, my patterns, etc. Well, I figured I will answer some of them today. By no means is this perfect and I am new and still learning, just because this is what I look for doesn’t mean it always works if at all. Anyways, here is my current strategy. First, I am trying to follow as closely as possible to Tim Sykes although I am still learning how to recognize it myself.
1. What Trading Software Do You Use?
Answer – I use StocksToTrade . If you don’t have it, I recommend getting it as I could not trade without it!
2. What Stocks are You Watching?
Answer – Every Morning I am looking at top % gainers on StocksToTrade . I also receive Timothy Sykes and StocksToTrade’s weekly no-cost watchlist. For better understanding and actual education.. GO JOIN StocksToTrade Pro or Timothy Sykes Millionaire Challenge!
3. What Broker Do You Use?
Answer- I am not currently using a broker as I am still practicing paper trading until I am confident in my trades. My goal is to make roughly $5k paper trading before I decide to open up a small $2k account using E*trade. I am currently around $1300 on profit.ly. You can find me under TessaL.
4. What Do You Look For When Determining A Stock To Trade?
Answer- It depends on which pattern I am practicing. I like top % gainers, first green days, a good catalyst ( earnings winners, contract winners, agreement winners, but it varies) I pay attention to the reaction of the news more than the news. I look for increasing volume. At least 1 million in volume as market begins to open so I can feel better about an entry and exit being executed. I will look at past stock history. I like looking at 6month chart to see if it is red or green on the day, gap up, gap down, etc. I like the 1 month 15minute and 5 minute and 1 minute to gauge the stocks’ recent history. I then look at the 5 year chart, 10 year, and 20 year. Is it a multi year breakout? What has history shown when something spiked big? How was the VOLUME? As you see, there are many different factors. I also like low float. Preferably, 0-17 million in float. Patterns seem to be opposite a bit when I focus on 20 million or higher in float. BUT I a still learning. I also use Sykes Sliding Scale to help determine my trades.
5. When Do You Start Trading?
Answer – I have alarms going off at 3:30am my time. I live in Washington State. Another at 4am, another at 4:30am, 5 am I am definitely awake and I roll over and turn on my laptop and start StocksToTrade. I start searching for stocks as I wake up. This gives me an hour and a half before market open to observe. My next alarm is 5:28am. Then 6am. Last alarm is 6:13am and I make sure everything is set. Then GAME ON! During that hour and a half I am also watching Twitter to see if Timothy Sykes or John Papa, Roland Wolf, Huddie, Jack Kellogg, Kyle, Superman, or Tim Grittani posts anything. I like to see what is going on. I also talk to my trading buddy, Mellissa, to see what she is up to. I will check the market throughout the day and then near market close I like to really watch to see how the stocks will end on the day. I also make sure to check the bigger markets throughout the day as well to see if they are up or down on the day.
6. What Patterns Do You Trade and are You Long Or Short Bias?
Answer – I am currently trying Morning Panic Dip Buys, Morning Spikes, I am holding off on overnights with such an unstable overall market otherwise, I was holding over night expecting morning spikes for the pattern day trader rule which allows only a few trades per 5 trading days (for better idea of the exact rule, use google). I am mostly practicing going Long as I am new, but I do study Short as to get a better trading psychology to help my long game.
7. Do You Recommend I Join Timothy Sykes Millionaire Challenge or StocksToTrade Pro?
Answer- Yes I do. I wish I could be a millionaire student, but my parents don’t want me to as they believe I already have it figured out. (To know what I study read my Introduction blog post). I also recommend joining StocksToTrade Pro!
These are the main questions I get asked nearly everyday. I hope this helps. Leave comments or find me on Twitter under Tessa Lamping and ask more questions you would like me to answer in the future. I wish you all the best of luck! Also, let me know your schedule, pattern, and ideas!
Again, Good luck and I’ll post next week!
I want to provide a small disclaimer:
I am in NO way a professional nor do I claim to be. I do not manage anyones 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 1 month and a few days with paper trading on StocksToTrade. I am up +$500 for the month of July and 1 day of June. 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
thank you for reading my blog!