We’re Big in Japan!

We have a Japanese camera crew here from NTV doing a show on Tim and my foolish trades to air this friday night in Japan… we should have a clip for you guys soon after it airs.

Introducing the all new TimothySykes.com

Check out the all the TIM - we just launched it this evening after a weekend of madness. There’s a lot of minor fixes and pages yet to added over the next couple of days - and it’s live and we wanted to get your feedback. Email me or add your comments below and let me know what you think. We have yet to launch all the cool features - so this is only about 60% complete. Check back over the next few days while we roll out new features accompanied with blog posts.

It’s going to be a busy week - lots of stocks to short this morning and lots of events to socialize this week… check my twitter for all the updates.

And good luck to all traders on this black monday!

How I lost $500 When I Ignored Timothy Sykes’s Trading Rules

About a month ago, in THIS blog post, I proudly announced that I was going to start trading. After all, it only made sense - I read and moderate all of Tim’s blog posts and alerts, and I should by now have a good understanding on how the market works and when to buy and sell. Or at least that is what I thought.

About a week ago, I bought a certain Uranium stock called URRE. I bought it because 1) there was talk of a takeover by a bigger firm, 2) the stock was still reasonably priced for a company that had over $7 billion worth of the radioactive mineral and 3) I wanted to gamble. Now if you ever read any of TIM’s blogs - the first thing he mentions is to ignore all 3 of the above points. He focuses on charts - and not the company. He doesn’t care if there’s going to be a takeover or if the company is legit or shady - if he sees a chart pattern that is sure to be a winner, he trades or shorts.

Unfortunately for me, I decided not to look at the chart and decided to go with my instincts - here was a NASDAQ listed Uranium company that was cheaply priced and had some good chance of going back to it’s glory days of $12/share. Well, I was wrong. Today, after holding this stock for a week, I finally sold. Took a loss of approx. $500 as well. Here is what you can do to not lose money like this:

1. Keep emotions at bay - when you trade, look at chart patterns and learn how to read them. Forget message boards, and news headlines and shady stock promoter advices. Understand the chart - and when you do, don’t let your emotions come in play. Don’t think that tomorrow the price will go higher. It won’t.

2. Buy a book or a DVD that teaches you how to look at charts and understand them.

3. Do not gamble. Take calculated risks that are 75% guaranteed to make you money. Subscribe to TIMAlerts and follow the advice - if Tim says do not touch this stock, then do not touch that stock.

So where do I go from here? Well, for one, I only trade stocks listed on the TIMAlerts and I’m slowly understanding how to read chart patterns. It takes a while, but it can be done. I’m also no longer looking at small scalping plays. And slowly but surely, I’m becoming a little more disciplined.

Tim Blog: $70,000/month

If you haven’t already read it - our TIM sites brought in about 70k in revenue last month. This is the highest income we’ve earned to date and it’s definitely encouraging. We now have a little capital to advertise and grow the brand a bit. We’re going to be busy for the next few weeks - lots of conferences, after parties, dinners and even a few video shoots, so expect to see TIM everywhere! If you’re in the NYC area and want to come act in a few videos we’re producing or just hang out - send me a msg on twitter.

Weekender Linkfest

I’m going to be flying for the next little while, so blog posts may be sporadic, but it should be interesting nevertheless. I’m off to NYC, Chicago and Tampa for the next few weeks meeting with clients and securing sponsorship deals for the TIM network. We’re also launching the new set of sites next weekend, so look out for those as well.

For this edition of the weekender linkfest, I’m going to do something a little different and link to some of the projects we’ve worked on this past year. Check out:

Opulence Bath and Beauty - A little boutique bath shop based in Vancouver, BC.

Open Sundaes - Another little boutique bath shop based in Vancouver. It’s funny how when you design one site, a competition comes to you and asks to design another one with polar opposite colors.

The Network Newsletter - Blogging micro-site for Gryphon Financial.

Wolves of Wall Street (to launch this week) - Another micro-site for Gryphon Financial.

Gemini Explorations - A small cap OTCBB listed exploration company.

Tru OilTech - Another small cap OTCBB listed oil and gas exploration company.

EVCC - Many of you (investors) may remember this company from 2006 as a huge pump and dump. Those used to be the glory days :-) Surprisingly, it is still in business!

Wall Street Survivor - One of the bigger projects I worked on… a trading platform where you get to trade real stocks with fake money and win real prizes. They’re also one of our new sponsors for TIM.

And finally, of course, the entire TIM Network of sites all launching next weekend. Subscribe to my RSS feed or add me on Twitter to be updated with all the latest developments. Have a good weekend!