3 Key Indicators I Use to Cut Losses Quickly
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- Опубликовано: 19 янв 2020
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How do you know when it’s time to get out of a trade? Here are three things that make me get out FAST.
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When it comes to trading, it’s better to leave the party too early rather than too late.
I’m talking about timing and when it’s critical to exit a stock. It can be hard to know when you should get out ... that’s why you NEED to watch this video.
Nope: it’s not a fun lesson, but it’s a useful one.
So when should you get out of a trade ... especially when it’s not going your way? In this video, I talk about three key indicators that make me cut losses quickly.
How important is it to cut losses quickly?
It’s vital. Take, for instance, my top student Tim Grittani. He started with $1,500, and he’s now over $9 million in profits.* One of the keys to his success? Cutting losses intelligently. He didn’t get to where he is by accident.
(*Tim’s results are NOT typical. He’s dedicated time to build his trading knowledge and hone exceptional skills. Most traders lose money. Always remember trading is risky. Never risk more than you can afford.)
I share important signs that you should look for to see if it’s time to get out of a trade.
For example, is this a speculative trade or is it a go-to pattern?
I’ll tell you about the difference between these two types of trades ... including what might make me speculate that a stock price could go up and why I might pounce on it.
But remember: there’s a lot you must carefully consider when making that type of trade. You need to ask yourself things like...
Does the company have credibility?
Is there something to back it up, and could it really run?
Are there short sellers?
Could it run 50%, 100%, or 200% like some recent runners?
Once you consider these factors, what should you look for in terms of stock characteristics, price action, potential supernova moves, or signs of a potential breakout?
If you’ve ever been in doubt about the right time to exit a trade, don’t miss this video!
Do you understand the nuances I’m talking about in this video? Can you adapt and consider multiple factors at once? Leave a comment and let me know!
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Hey, it’s Tim Sykes, millionaire mentor and trader. Thank you for watching my videos. I hope that they help you. I want to share everything that I've learned over the years. You can check out more videos right over there, and also click ‘subscribe’ so that you can watch all of these videos, get that knowledge and become my next millionaire student.*
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* Results may not be typical and may vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here: www.timothysykes.com/terms-of...
Do you understand the nuances I’m talking about in this video? Can you adapt and consider multiple factors at once? Leave a comment and let me know!
I watched it 3 times so I could get it stuck in my head too cut losese when it's looking bad I can't tell you how many times I lost money knowing it was looking bad. & I like too thank you for the free video lesson ever since I been watching them i have started too make 10%to 30% a day I'm more consistent took me hole year too get it right but I'm still learning thanks for being good teacher Mr Sykes
In the description " Discover the Sykes Sliding Scale: po.st/YT-trader-checklist " but that links leads to a page saying end of service notice..
I tend to cut losses quickly but sometimes I am hesitant because I know that i have bought this stock and i have less intraday buying power now and if I sell that is wasted. It is far worse when under 25K only 3 trades a week. I focus on not wasting a trade rather than being non-emotional and looking at the chart and price action. But i'll improve :)
Yep, gotta remember if it’s not doing what I want, it might be time to go ahead and close the position, Thanks Tim!
Nobody ever went broke taking profits quickly. It’s ALL about singles added up!! If you’re waiting too long, you are in the green and you are losing site of your catalysts that got you in, take your damn profits and stay the eff out until it forms up again with volume.
Brooo I learned that last week. My friends laughed at me when I said it. 'I don't mind cutting losses when I'm in the green" but my mindset was, yes it's going up but its not moving like I planned so I'm gonna get out before it does something else I dont expect.
Top notch video, Tim!
Be quick to take profits smart man. People who hold and try to squeeze out every dollar will end up in the red more than the green. Speaking from experience had to learn that the hard way lol.
Well done!
Exactly this, great comment.
Jeffrey Fahie your friend wont be laughing when he blows up his account
@@villyv444 lol he wont even reply when I start talking about the market anymore. xD
1st indicator 1:12 (speculative trade vs goto pattern) 2nd indicator 2:32 (price action) 6:04 (hot sector)
🙌🔥
Thank you, Tim. Just joined the Challenge and it is so helpful to hear this message on all the platforms! Have only done a few trades with very little money but for every trade, I did have a setup and a stop loss and stuck to it, most of the time getting out before the price hit stop loss. Have to be careful there too as some of the penny stock that spike fast also come down fast so keep watching the price the stock is currently trading at and make sure your limit price does not miss that crucial window or you may have to sell below your stop loss price. That is one of the other important lessons I have picked up so far: do never buy or sell at market price!
I enjoy the straight forward approach and knowledge that you share with everyone. I find myself reacting to the trades I am in as approaching each one with a back thought of the patterns each ticker may have in general but not letting that define the way it had to trade that day.. more so as a reference point and then to remain reactive within each play as its unfolding. Makes much sense everything that you shared in this video and Yes there is a moment to be aggressive and then moments to trade more conservative. Trading smarter NOT harder. Accepting of trades when they don't do as you may expect them to play out and knowing that its okay to just GET OUT! thanks for your guidance on this journey Tim!!
Tim, I love all your videos! I am thankful for your honesty about penny stocks. I am tinkering with dip buying morning panic patterns and morning opening spikes. But most importantly, I am working on my discipline of sticking to rule #1 Cut Losses Quickly, waiting for the set up, and sticking to the trade plan! Thanks for ALL your training!
you're welcome, David! Glad to have you here 👍
Yes Tim.. when I start to trade I will always remember cut my losses quickly & get out fast if stock is not breaking out like it should….. you’re the best…… Gary
I am very pleased with my choice to join Tim's VIP Challenge. I have been in for just shy of a month now and am really starting to feel confident in my growing ability to recognizing patterns. That being said I still haven't made a trade. Yes I have funded an account with a broker. I'm just being patient and making sure I dont blow up my account before I get going. Thanks for all the lessons Tim!
thanks Ryan! I look forward to hear about your success. 👍
This lesson in the 30 day boot camp has helped me see cutting losses quickly so differently! Thanks Tim been taking notes like crazy!
Thanks for the video. I took plenty of notes. “I will cut losses quickly.” One of my takeaways is that I need to be considering all of this before make the trade, part of my plan - anticipating that I will need to cut my loss.
Yes! The golden rule! Sometimes the price comes back but doesn't worth the stress + risk. Always get out quickly. You always end up with a bigger loss. I have learned it in hard way :) Thanks Tim for being there :)
great video. I have been studying roughly 4 months now and there are still millions of things that I wanna learn. So far, I learned looking at the stock from multiple angles by using multiple indicators, knowing fundamentals (including the current market condition), and employing technical analysis while always being ready to cut losses quickly is one of the crucial things that I should know.
As usual, video was super helpful--have been studying for months, and am at the stage where I'm trying to figure out the nuances. I can definitely consider multiple factors, but am a little intimidated about adapting when the market changes--but I know if I keep pushing and learning, I'll eventually get it. I'm in this for the long haul! 🙌
thank you for the 101 trading, I am just starting and I thought I would do some paper trading first. Love your videos
awesome! learn all you can 🙌
Great video, Tim! Cut losses quickly is the #1 this to remember. Its already drilled in my head and I follow it with each trade I make.
Great job!
I like to take profits at key levels so even if it goes against me and I cut losses quickly I might still be green. Depending on hire’s it’s moving I might take some off at 5% then 10% then 15% etc. I did this today with GEVO that was up 200% on the day. I let the last 1/5th run a little and cashed it in at 35% up. Taking some off quickly when it goes my way fits my personality. It’s probably because I a few times I have seen something go up 8% or so and then reverse and become a losing trade for me. If I had taken some off at 5% and then the rest at -2% it is a much smaller loss. I’m still very much learning though. As I getting better in finding supernovas over time I may not feel the need to take profits so quickly. Thanks for all of your help Tim!
nice! keep it up!
Great info as always Tim! I think I really needed to hear the part about only looking for solid breakouts and breakdowns, that really helps. I constantly use the Pennystocking guide as a reference, its very insightful. Be patient, only look for the best setups, cut losses, love the process and the rest will come naturally!
great takeaways! 👍
Bootcamp day 11! Cut losses quickly! I totally understand these nuances and have been putting them into practice. Great video!
You got this!
This is great. Thanks Tim
Awesome, useful video. Thank you!
I’m currently in your 30 boot camp and I appreciate all your videos. Its quite a lot of information to grasp but you have motivated me to get on board with you and your team. Thanks for all the videos and I look forward to meeting you in the future once I break out!✌️
awesome, glad you're liking it!
I now understand there are multiple factors to consider. I’m in video 3 of 30 day bootcamp. I watch your videos and Tim Bowen’s STT updates daily. All tremendously helpful. Building on that knowledge. Thank you!
Thank you Tim. Probably my biggest downfall as a newer trader is holding on to a falling stock too long hoping it will recover and losing money. Thank you for the great lesson on cutting losses quickly.
Hi Tim- a big THANK YOU for sharing your knowledge with every single person who will listen! You are a kind person for wanting help us... I’ll be taking your course hopefully if accepted, I’ll be talking to your associates on Tuesday!
Great Info. Understand it. Thanks for sharing.😀
glad it was helpful!
I am thankful for learning about your program.... I live in Weirton WV near Pittsburgh for now
I have lived in Colorado Springs and Keystone Colorado in 91 to 96
Currently reading the complete penny stock course and it’s great, already adding to my knowledge account 140 pages in.. one of the hwk assignments had you make a trade and try to profit/lose $10 i cut my gains too quickly at $7.57 but felt good
Nice! This helps my understanding of cutting losses knowing there are other nuances besides the play just not working out!
Glad it helped!
Yes Tim.. adapt to my schedule… thx… Gary
Very useful information! I love this video. I like learning about the subtleties and fine details. It makes me comfortable when my knowledge base is strong. Thank you! I'm looking forward to learning more!
Thank you Tim, I will keep on studying and I bought Jamil's book. Excellent book to read and very organized.
Love the constant reminders to be cautious and in a protective mindset. Like you say, trade like a retired trader. Thanks
Thankyou for the awesome video and your time. How do you determine best exit points on a winning trade?
you're welcome! 👍 depends on the trade
Love the detail and taking in the knowledge right now while in bootcamp. Watching videos and doing tasks repeatedly until understood better really helps. Thanks Tim! 2nd time I watched this in about a week I wasn't so overwhelmed. Yes, getting it and will keep at it!
thank you
Mucho knowledge in this short video. Sweet!
Great video. Thanks Tim!
Thanks for watching!
I've been wanting to trade for a while now, your video's give me direction!! I know i will be conservative in the beginning; I'm thinking of only buying 10 shares at a time until my wins over run my losses! Thanks again! Hate I missed a crazy run by procrastinating! Finally started 30 DAY BOOT CAMP!!!
Thanks for these lessons, My biggest problems has been staying in winning trades for too long , that eventually turn into loosing trades. my greed is getting the best of me. , but working very hard to taming this beast.
Awesome info Tim! Thanks for all the hard work. Very appreciated
thanks!! glad you liked it
This is great and helpful information. There are a lot of times I'm indecisive whether or not I should get out of a play. This helped!
glad it helped! 👍
Great video the three indicators add more tools for your toolbox thanksTim
more to come!
Lesson 11 BootCamp here. Thanks for sharing your knowledge. Still learning.
thanks for the video BootCamp Day 11. Cut Losses QUICKLY!!!
Thank you Timi!
Another Great Vid Tim Thanks!!!
Thanks!! 🙌
Great instructions. Thanks!
you're welcome!
Great video! Trying to soak it all in
Oh yeah, that’s exactly what’s hold me off the daily trading, I’m more speculative when I trade using your Sykes Sliding Scale SSS which is based on 100 points of PREPARE I learned. Great indicators of how I should time rule number one. Thanks for the video. Very useful.
glad it was useful!
Now I start to understand you. Your video is very very helpful. Thanks
so glad it was helpful!
This video is so vital to traders. especially Newbies ,I have found out that cutting losses quickly is the right thing to do. Because no matter how stubborn you might be initially in cutting the loss, you are eventually gonna cut that loss. just bigger and more devastating.
Thank you Tim for your tips. Cutting Losses quickly will keeps you less stressful and mentally healthy.
Amazing! I'm going to start focusing on getting out of any stocks even if they are still in the green, when they are not doing what I expect them to do. Thanks, Tim!
You can do it!
Thanks Tim!! Day 11 and a new challenge student and have already learned so much!
Thanks for the great info Tim. I am new to the stock market. Very interested in being conservative atm. I am just starting and you make it sound easy. Thank you, it gives me more confidence.
you're welcome! 💯
Thanks Tim, this is “My Go To”...
I Love This Video......
(Created a wallboard off this)
awesome!! Glad you like it!
Great guidance Tim. Thanks for all you do.
you got it!💯
Great knowledge, I will def put those indicators to practice, im learning the hard way...
You got this!
Thanks Tim for your help
you got it!
Ever since I followed you, I learned how to minimize my losses. Before I was losing 20% per trade because of my wishful thinking towards the stock i was holding. But now, my maximum to cut is -1% . I then started to see my profit climb. Thank you very much Sir Timothy!
Hey tim, I have a brokerage account in e-trade and I just use the delayed quotes because I don't have money to get the monthly subscriptions for live quotes. is that okay for now? thank you tim I always watching your video and Learned a lot of lessons Thank you!
I understand the nuances and I'm more in the realm of getting out early to lessen the risk
Always a great video to remind of how to go about trading... Once you hear it enough times it becomes basic knowledge... Thank you Tim and your team for all your tips...
thanks Will!
Very crucial. It must do what you think it will do. So first you must think what it will do before entry.
Great video again.
absolutely! Thanks 👍
yes unfortunately for me a tough lesson to learn but these 3 ways for why to cut losses are excellent and will be part of my everyday tradingf from now on
Great video! Really helps me understand your process and find my own.
Glad it was helpful!
I definitely want to be more aggressive but what you're saying about hot sectors makes total sense interms of when to take bigger positions. As well as taking quick profits in volatile markets. Thanks for sharing Tim🙏🏽
you got it!
Great training and advice, once again. Thank you, Tim!
Glad you enjoyed it
Good stuff. Thanks
You got it!
Learning the nuances ... Many issues to think of in parallel... No Serial thinking here...Please continue to Feed me the process... Thanks again... Bootcamp Lesson 11 Task 1B... All the Best
These indicators are helpful especially when combined with the PS Framework. Again, Plan your trade and trade your plan. Thank you!
Thank you, Tim!! I'm two weeks in your Millionaire Challenge...wow, learning so much! Loving these videos! :)
How is it going?
Thank you Tim
👍👍
With my small account, I can quickly do 3 conservative roundtrip transactions in one day, and run into the PDT rule pretty quick. Some buys should be held over night or no more trades for the week, right?
Thank You Tim. You say EXACTLY what I need to hear to help me deal with the very problem I am having.
you're welcome- glad i could help!
This is my #1 problem. I get in at the dip with high volume, the price action is volatile , Im up a good amount but then.... i wait to see how high i can fly and it turns around on me
Good clip Tim and you're a good educator. Thanks.
Thanks 👍
I've been in your challenge for six months now, and so grateful for your material, as well as the attention from Mark, Michael, and all the new mentors. Feeling more and more inspired. I've watched this video several times (unfortunately for obvious reasons). So helpful. Thanks again Tim for all you do!
Happy to hear that, thank you!
After 2 years, have you become a profitable trader having participated in his challenge?
@@philipp5684 haha no :/
@@Dancemyth721 sorry to hear. Are you still part of the challenge? Was wondering whether they offer 1:1 coaching & mentoring?
I’ve been studying for a couple of week from your videos and website and just recently invested in the trading list and supernova patter! So far so good and i really feel they’re helping my learning curve a lot!!
Just a quick comment... it would be very nice if, at the end of ur videos u just do a quick recap..? i like those as a student lol Thanks!!
Every time I watch your videos I learn something new! Wow thank you Tim
thank you!
Thanks Tim
you got it!!
I love you! Thanks for all you do, Tim!
THX!
I have the book already and so far, so good. Thanks for the tips, Tim.
You bet!!
Thank you, Tim!
I have understood my big mistake which I usually do - I wait and hope that stock will go up even if it does not have enought power after breakout.
good! Learn from it and do better next trade 👍
Love this video.
Glad you enjoyed it!
Where can I list of all sectors and companies that are associated with it
great lessons :) thanks
thanks Ray!
You have helped this newbie tremendously!! I have adapted to a lot of your styles and it has greatly helped
You are so welcome!
Thank you Tim for all you do!
my pleasure!
The sliding scale link takes me to a sketchy non secure website that offers cook book recipes and other random things not related to trading...?
Thanks Tim for the Tips.
Happy to help!
Lots of great information
Glad it was helpful!
Still learning the lingo of some of the trading sector, but love all the help you offer Tim. Finally got my a E*TRADE account approved, as I am currently living in UK it was a bit of a pain, and now trying to link a bank account to transfer funds to start actually trading and issuing the skills and tips you offer. Exciting times ahead, and freedom I believe
you're on the right path! 👍
Working on figuring out when to cut losses.
great!!
Great lessons.
Glad you like them!
Learning so much watching your videos and #30Bootcamp!
Glad to hear it!
Thanks Tim great video
you're welcome!
I love it I am learning everything I am still new at this
I understand the nuances and I can and do adapt, and consider multiple factors all at once. Thanks for the bad ass video again,!!!
you got it!!
I take profits quickly. I don't use stoploss. I just reverse postion from long to short or short to long. I use pivot point, vwap and open price trading. But I always use target price