Trading Psychology Tips With Tim Grittani
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- Опубликовано: 30 июл 2024
- In Tim Grittani’s presentation at the 2018 Trader & Investor Summit, he discusses two important topics. First, the basic tips for tracking setups, which are his edge and second, his tricks to help you with the psychology behind trading as it can be a challenge!
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FULL DESCRIPTION
There are two things people ask Tim Grittani about a lot. The first is tracking setups, which are his edge. And the other is for trading psychology tips because the mental strain of trading can be a big challenge.
What do you think about when you want to track a new setup? First thing you need is clear criteria. You also want to condition yourself to value consistency. It can help you trade with more confidence.
Everyone’s different. There’s no right or wrong way. Tim starts by only looking at the open, high, low, and close. Now, it's still possible to further refine this. This is just step one of his journey when he goes into a spreadsheet.
Spreadsheet tracking is huge in Tim’s strategy. Unfortunately, many people don’t understand Excel. Taking an online Excel class is an affordable, easy way to educate yourself on something that can really help you in your trading strategy going forward.
Back to Tim’s strategy ... he casts a wide net and works from there. You can start big and then narrow down your list. Find ways to cut out some of the losers. Make it more consistent.
Now let’s talk about trading psychology. Don’t click away - this is important!
Maybe you have one or two setups that you’re very comfortable with and good at. Those setups aren't always there on any given market day. Slow days happen, and when they do, if you're in a chat room or on Twitter, you might get antsy. Maybe you see someone posting about a gain or some random big runners - you start to get that itch.
It can be hard to tune out when you see others getting in on some action. You start to feel the FOMO … fear of missing out. You start to think you should be doing something too. Before you know it, you're in a random trade. You chased an entry. That usually ends with bad results.
You've got to learn to ignore that noise. It’s a mental trap.
No matter how confident you feel, no matter how much you think you know early on ... You're gonna face things in the market that you haven't seen before. We have these plays every year called ‘black swan events.’ It’s where you might see a pattern that works 99 out of 100 times ... but that one time, it doesn't work. It just decimates people.
Remember, all traders deal with loss. Don’t let a loss be from carelessness. You have to be meticulous. You have to assume that you know less than you think you do. And you have to trade small.
Those things can help you put everything in perspective.
How does tracking your trades help you? What struggles do you face with trading psychology? Drop a comment below and let me know.
#TimothySykes #Pennystocks #Investing
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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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I've been trading/learning for about 2 months now and I take bits from every trader that I find useful. I can relate to Tim Grittani the most because I am starting very small but I am determined. I paper traded for a week but the big thing is, there's no emotional investment in paper trading so I started with $100 real money to get used to the emotional/psychological aspect of it. Since starting, my success rate is 62% thanks to videos and learning as much as I can. I believe in overlearning and videos like this inspire me to keep pushing. Many thanks to Tim Sykes and Tim Grittani for these awesome videos!
I've seen that happen countless times with paper trading. You can also develop bad habits because the stakes aren't real.
Tim, thanks so much for your honest, humble, presentation. Ad a 47 year old beginning trader, its valuable to know of the pitfalls to be aware of; it sounds like Psychology is a major one.
Thank you so much for sharing this video. It's always great to listen from the winners.
THIS IS THE 1 TRADING VIDEO THAT CHANGED MY DIRECTION PERFECTLY I HAVE MADE SPREADSHEETS FOR 2 YEARS NOW TRACKING SETUPS I AM SO GRATEFUL FOR ALL THE FREE CONTENT THANK YOU TIM GRITANNI AND TIM SYKES!!
Wow. Never seen anything quite like this guy. Thanks Tim. Alot.
I'm glad you mentioned about the scammers especially with all of you guys traveling. Great video and I will keep this all in mind as I begin. Thank you!
I feel like I might as well be up there talking, just as in he hit the nail on the head in every way. My heart almost comes out of my chest every time I make a trade. I traded paper for over a month with such incredible success I was just blindsided by the mental side of actually using real money. You start second guessing every decision. I would go days without making a trade because the set ups weren't 'perfect' or cutting losses too soon because of the smallest hesitation.
Awesome and important knowledge. Also I'm working on overcome those issues! Thx Both Tims!
i feel like this is a real great video for for ppl who getting started....
And this is my favorite. Cause i going through it alot...... and i watch this video so many times
Great upload. I have heard allot of these before, but it's good to reinforce the information. Thanks!
Thanks for the great sharing of your trading journey. Real life experience. Thumbs up.
YES!
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@@TimothySykesTrader h
Amazing. Just amazing.
Thank you Tim
This was so important to me right now. It has so many important points of advice that I desperately needed to hear. Thank you for sharing your wisdom, Tim G. Saved to watch again.
Glad to hear it! you're very welcome
It's nice learning from someone who actually cares! Thanks for sharing your knowledge over the years.
looking for steven dux dvd or tim sykes dvds? email me for more info tommyson69@yahoo. com
Great video, it contain information and reinforces that trading is not an over night journey or over night success, Thank you Tim G.
One of my favorite videos so far
Thanks Tim , I have learned a lot!
Appreciate the hard work..! Well done Grittani! 🙌
👍👍
Thank you so much Tim for shared this lesson. Millionaire lessons
great videos, I recently purchased your course and I have to say its worth every penny.
Great Video lesson!!
Thank you Tim! Great presentation. Your sharing helps. I'm finding that starting trading any given days can give rise to some very unplanned and not so smart rationalizations. Grreat to see even some of the better traders can go though the same.
You're welcome- glad it helped!
Loved it !
Still early in studying and I am sure that I will need to re watch in the future.
My two favourite Tim's teaching my favourite niche soon to be my day to day career. 🇿🇦 from ❤ 😎
2 years later.. how did that turn for you?
@@polskakurwa67 q.. Aq..
I needed this
This Guy is the best and gives the best pieces of advice also so humble. :D Thanks
YES!
Thanks Tim!
I've watched this video a few times before. Its really good stuff every trader can relate to. I'm all pumped to get up and see if this really big mistake I made and have been holding on to for the last few days dips below my stop tomorrow and cut my loss if it does! I needed this pep talk tonight lol
Thnk you sir :)
Thanks so much for sharing that
You're welcome! What was your takeaway?
Thank you for the great tips!
you got it! 🙌
Interesting about that first setup.
I've been noticing lately that most of the stocks I'm either in or following open higher, most days.
Which has led me to think about that as a strategy, and here Tim G is covering it. 😏
awesome! perfect timing ;)
Can anyone tell me if his DVDs are still the best for Penny stocks like all of his DVDs , cause they were made a long time ago and if those stuff still works in today's date?????
Thank you Tim, Great speech!
That support not holding literally happened to me today I need smarter risk strategy I’m still learning thank you for this video Tim!
you're welcome - you got this!
Tim, I am so glad I found this video! I have suffered from nearly every psychological battle you mentioned. And now I am focused on turning the corner by keeping your solutions in the forefront of my mind and making it a part of my trading plan and days!
Incredible video 👍🏻
Very well done, thanks Tim 👌🏿
Glad you enjoyed it!
Definitely trading small in the beginning is key 🔑
So thankful for the intellectual Tim Grattanni
Tim's the man 👍
Thanks TG for your trading psychology which affects our mental capital.
Great info! And love that Snoopy shirt 💯
thanks!! 🙌
Do you manually enter the data into excel? Is there a service where you could programmatically run these models over historical data?
You could code one. so im sure there is if not it wouldn't be hard to code a program to input data into excel
Very helpful.
I'm glad!
THANK YOU!!!!
you're welcome!
Great speech.
Thank you Tim G :)
yesss
28:45 i went out and tanned during the midday lul.... lol
focus on what you are good at, focus on what you are consistent at!! focus on yourself!!
This was a good conference met some great dudes there.
Yes sir
😎👍
Thanks Grittani
🙌
Nice 👍😎
Hi this is Paul Edwards for Delaware Still studying ready to be one of the millionaire students as well
Thats actually pretty funny what Tim said about being on tilt. In the game I play, when youre doing bad mentally and underperforming because of its also called being tilted or on tilt and you just gotta take a break for awhile.
Good Lesson✔︎ Y.N.M♛
Reupload?
nice
Great presentation, Tim! What is "FOMO"? Really appreciate your teaching and insights. So valuable to a "newbie".
Fear of missing out. In this case, FOMO means fear of missing out on a good play or missing the opportunity to bank
I was present on this day!
Awesome!
@@TimothySykesTrader I love you for all the work you do!! Thank you
If someone wants to help me and explain how he calculated that percentages that would be very much appreciated
get in my tim.ly/sykesmc chat for Q&A
I learned not trading is better than forcing a trade and losing because not trading you don’t lose money.
How many hours you used to study daily ?
I had an instance where I held my gains too long and they started to fall and when I went to go sell it, A small screen covered the action and I accidently bought 600 more shares instead of selling. Not only did I lose my $100 in gains but I actually ended up losing $75
#studying 💪🏽
😎🙌
'I'd like to call black swan events' ? XD Humble dude, and so smart too.
Knowledge Account Increased
Cool
Tim's got on a Snoopy shirt with some basketball short on while raking in millions on the side. My guy
Lot of good information in this video, can tell he learned how to trade successfully and wasn’t so called gifted. Totally appreciate his dedication to the craft.
🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
His Snoopy Shirt says it all. Trade with appropriate size, and chill out.
hey today is my official first day watching your content I'm 17 years old and I'm trying to learn other ways to succeed in life but working a desk job and going through the average 9-5 job lifestyle doesn't seem to interest me, but I'm very interested in the penny stock exchange now. my father has taught me the ways of business and trade as we own our own small business, and I think making a "career" out of trading penny stocks sounds something I would love to do. it has the the perfect amount of risk, excitement, and attention to detail, and I want to learn every small detail about this trade. I have one question though. what can I do now (being 17 as of posting this) that will prepare me for actually trading? such as how much capital should I have saved up before trading? what are the safest trades I should make? and do you have a video or guide to the vocabulary aspect of penny trading? (sometimes I get lost in your videos because I don't know exactly what you mean when you talk about the certain ways to trade)? anyways thanks for sharing all this information you post and I'm excited to learn more
-----J. DeMarco
Is he onstage in flipflops and shorts?.. Jeezzzz..😬
Holy Bible: Galatians 6:4-10
Don’t compare yourself with others. Just look at your own work to see if you have done anything to be proud of. You must each accept the responsibilities that are yours. Whoever is being taught God’s word should share the good things they have with the one who is teaching them. (Blueprint to be a happy trader).
Why doesn't Grittani take students of his own?
Because he's too busy trading big and doesn't have time for the typical laziness I deal with daily
@@TimothySykesTrader Thank you for the reply. But students just wanting stock picks are the best right? Then pray and hope you execute in time to actually make money or take a tiny loss right?