(rumbling)
- What's up?
Tim Sykes: Millionaire, mentor, and trader
here answering your questions.
I gave a webinar this morning
from this beautiful villa
that I have for the week here
just a few hours ago.
And one of the questions that I got
from a trading challenge student,
and by the way, if you want to get into my trading challenge
and get access to my live weekly webinars,
click the link just below this video.
Challenge students get two to four live webinars every week,
not just from me but also my top students.
It's the best way to learn.
But one of the questions I got was,
what do you think about,
I don't know, October 17th, I think.
That's when Canada is formally legalizing marijuana.
"What do you think?
How should I position myself
ahead of this October 17th deadline?".
And I said, "Today is August 17th as we're filming this."
I'm like, "I don't care.".
Or, is today August 17th or 16th?
- [Cameraman] 17th. - 17th, cool.
And I said, "I don't care if it's August 17th,
September 17th, October 17th.
I don't give a fuck what day it is.".
I don't care about upcoming dates and trying to guess.
This is why I'm not on CNBC.
I react
to the reaction of news.
I don't try to predict news.
I don't try to predict the reaction of news.
I react to the reaction.
And I know this sounds weird
and kinda corny,
but it's true.
I wait for the news to come out,
and this has been a big part of my success.
I don't have to guess ahead of time, okay.
I used to play the guessing game.
I wrote for TheStreet.com.
I was getting all these page views
when I was like, "Oh, here's an earnings winner,
or a probable earnings winner coming up.".
And I would try to guess.
And most of the time, I was right,
but sometimes, I was really wrong.
And as a financial commentator, it doesn't matter
'cause you're just throwing out ideas
and people just want ideas
'cause they're degenerate gamblers.
But as a teacher, my goals are different.
I wanna teach you strategies that actually work.
And they might not be the most exciting.
They're not the most action oriented,
like, "Okay, how do I prepare for October 17th?".
How do you prepare for October 17th?
You wait for fucking October 17th to happen.
And then you see what stocks are moving on October 17th
or October 18th.
And the same goes true with earnings.
How do I know what's gonna be the next big earnings winner?
You wait for the companies to report the fucking earnings
and then you see, what are the biggest percent gainers.
You do not have to guess ahead of time.
You should not guess ahead of time.
And I know this sounds weird but it's true.
Okay?
There's helicopters flying around, I don't care.
I'm just gonna be real with you.
Does it sound terrible?
Fine.
I don't care if it sounds professional or not
because I have learned a lot
over the past two decades in the stock market.
And too many people try to predict stuff ahead of time.
They think that there's like, a skill,
there's an art.
There's nothing, okay?
It's a fucking coin toss
and you're not gonna make a lot of money.
Even if you do make money sometimes.
The key to making money a lot over the years
is to not play the guessing game
and to just recognize that even when the news comes out,
you have one, two, sometimes three days
before more people realize it.
If you're on the game, if you're on the ball
like I am every day.
Like, putting watch lists together,
commentary, trade alerts,
video lessons, blog posts, Tweets.
I'm on it every single day
because that's the way that I'm prepared.
You know, I trade like a sniper.
I'm prepared for that shot when the shot is there.
Today, I didn't even trade.
There was no great trades.
Some days, you're not gonna trade.
But I wait for the news to happen.
You do not have to predict it ahead of time.
I know that you want to.
I know that you think that you're working hard,
where you're like, "Oh,
I'm gonna do channel checks.
I'm gonna see if this product is doing well.
I'm gonna be an analyst.".
Analysts, if you actually look at
academic studies and papers on Wall Street
and analysts, and Jim Kramer, for that matter,
they're right 35-40% of the time.
It's not a majority of the time.
And this is why, frankly, they don't make a lot of money.
This is frankly why TheStreet.com is failing.
This is frankly why CNBC's ratings
are at multi-decade lows.
It's not making people money.
90% of traders lose.
Why are my students at all time highs?
Why do I have so many successful students?
Because I teach a strategy
that might not be the most exciting
but it fucking works.
And you can doubt me, you can ignore me.
You're free to do that.
But I'm gonna teach what I've learned
over the past two decades.
And this is why my winning percentage is 70%.
This is why my top students' winning percentage
is 60, 65, 70%.
And when we're wrong?
Rule number one is cut loses quickly.
So, don't try to predict events ahead of time.
Simply wait for the reaction.
And then, what do you do with the reaction?
Well, hopefully, you've been studying
my video lessons, DVDs, webinars,
and you see how different patterns play out.
You see that earnings winners can spike
on day two, day three, day four.
You can see that OTC, multi-day breakout spike
on day two, day three, day four.
You can see that morning panics are really good
for the first hour or two.
You can see that you probably shouldn't buy,
or dip buy, afternoon panics.
There are good patterns and there are bad patterns
and there's no one right or wrong pattern.
But you can study the past and be better prepared.
And that way, you get the odds on your side.
Don't predict, react.
Leave a comment underneath this video
saying yes if you understand what I'm talking about.
Hey, 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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