I had a rough trading day today but learned a lot of lessons. When I first began trading, I would chase many of Tim's alerts and end up losing like many new traders in the chatroom do because I did not use his alerts to learn but instead just mindlessly followed his alerts.

 

Now I do not chase Tim's alerts and always try to learn why he enters when he does and exits when he does and why he chooses his goal price. I have still been entering trades that he enters though, not because I'm following/chasing his alert but because I review his thesis and make a decision on whether my entry would be good or not and also based on price action and volume. 

 

The problem here is that I find myself trading based on Tim's decisions. Normally if I'm in a stock and do not like the price action or feel uncomfortable, I get out as soon as I can and am totally okay with the outcome whether I would have been right or if I made the right decision to get out and feel good about my decisions. When I'm in a stock that Tim is also in, even if I feel uncomfortable or do not like the price action, I stay in it because Tim is also in it which gives me faith that it will do what I want but the stock doesn't care about what we think it will do. This is not the right way to trade and I should be getting out if I feel uncomfortable or do not like the price action.

 

Ive concluded that it is best for me to just watch Tim's alerts and learn from them. I'll only trade the same stocks that he is currently trading if I am already prepared for it ahead of time because when I'm unprepared it influences my decision making ability and my emotions take over. 

 

I want to note that this is NOT a post complaining about Tim giving bad alerts or about complaining that I'm losing money because the stock goes in the wrong direction as soon as Tim gets out. I take full responsibility for my losses because I should know better and I'm the one making the trades. 

 

Thanks