Thursday, April 23, 2009

Three Things


1. Timothy Sykes Isn't Human.

There are traders, there are robots, and there are trading robots. Then there is Mr. Sykes. Somehow, he not only knows how to profit more than 90% of the traders out there, but he possesses a machine-like quality that seldom lets his emotions interfere with his trading plan. Perhaps this is due to the well-known lesson he learned after losing more money than some people make in a lifetime on one penny stock (It's all in his original book). He has turned a pretty surreal corner, and is now living the daytrader dream. Some people scoff at others' successes. I applaud. Now if I can only trade the perfect setups I've learned to spot from this cyborg mentor (while keeping my emotions and theories in check), I will no doubt reach that upper echelon of elite traders. I'm still coming for you Tim!

2. I've Had a Livermore Experience.

After recently watching Think or Swim liquidate some of my positions against my will (due to lack of funds and the use of margin, I had 200 shares of both LULU and PALM covered for me the last two days), I have once again regained the hope of victory. What is victory when it pertains to trading? Planning your trade and trading your plan. It's that simple. If you're wrong, fine- but don't keep having to learn the same lessons over and over because you somehow fail to allow yourself to change your trading habits. If you build a fortune, then squander it like Jesse Livermore only to build it again- Stop there! Evaluate what got you back on that plateau, and KEEP DOING THAT! In case you're interested, THIS is one of the best short biographies on the life of Jesse Livermore I have ever read.

3. I Am Planning My Next Mission Trip!

Yep- I've saved the best for last! I am finally going back to East Africa (Zimbabwe, Rwanda, Mozambique, and possibly Tanzania) this summer. I won't be alone either- my girlfriend Michelle and I will be flying over to meet a pastor friend of ours (Agatha Taylor- special lady who loves the Lord) and help train local pastors in kids ministry (Michelle's and my favorite), education, and help with various medical needs (malaria prevention, AIDS awareness, etc.). Michelle is a pharmacist, and returned recently from a mission trip to India. She truly is a woman after my own heart. Please keep the trip in your prayers and I'll try to post updates (although not too much since this site is primarily about the trading- Mission-trading.com will eventually have more about the missions).

Striving to stay focused in this break-neck-speed life,

Evan

5 comments:

Erich said...

Sorry to hear about that.... your trip sounds awesome tho! I'd love to go to africa... one day!

Anonymous said...

Sykes has the luxury of having a large following that takes his lead via Alerts etc. He places his bet and then others follow. You can send a stock in a particular direction on a day trade fairly easy when there is alot of capital flowing in one direction. Couple that with trading stocks that thinly traded gives you an ability to manipulate it for very short day trading periods.

islandminister said...

Hey Erich- I'm with you on your Chart.ly comment for $DDRX :)

Anonymous- thanks for your sporadic wisdom-unloads on my blog! Yeah, he absolutely has huge potential (not to mention he's already consistently banking 50k+/month- Man, the mission trips I could fund with that!)

Charlie G. said...

Ouch, hope you last couple trades (saw on Twitter) went well!

Safe travels on the mission trip, I like your other site too.

Erich said...

Hey there. I noticed that you're still in FAZ as a long term play. If you haven't, give these two posts by tortexal (from stackyourcream blog) a read, it's about leveraged ETFs and it's really good. I am guilty of not fully understanding how they work. Cheers!
http://stackyourcream.blogspot.com/2009/01/your-stop-for-how-leveraged-etfs.html
http://stackyourcream.blogspot.com/2009/05/chat-on-leveraged-etfs.html

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