How I Master the "Buy the Dip" Strategy
i nailed the morning panic at the open but then me wanting more wanting to be like to be there for the big panic and the big bounce that led me to get in a little too soon what's up tim sykes millionaire mentor and trader here um giving webinars with my challenge students icing my leg you'll see all of this in a second but i'm giving a challenge webinar specifically um on some of the top comments some of the top topics that i think a lot of newbies have trouble with um so this first video there's gonna be multiple parts if you click the link below um you know you can get into my challenge and you get two three four live webinars per week but there's also gonna be multiple sections of this one webinar we're gonna divide it up so that nobody is bored the first one is all about morning panic dip buys intraday dip buys into panics which plays are the best to dip by i don't just dip buy anything how do i know uh where to dip by you know if you try to catch falling knives it's not exactly safe you might end up with bloody not bloody hands um so in this webinar i'm just talking about how this is not an exact science but there are indicators that i use to try to catch these dip buys i've made a lot of money i'm over seven million dollars in trading profits right now as i'm doing this webinar created now nearly two dozen millionaire students i want more trading profits remember i donate 100 of my trading profits to charities so i want to donate more to charity building more schools helping more kids helping more animals and i want more millionaire students so again if you click below apply for my challenge leave a comment below this video let me know what you think about this like should i do more behind the scenes uh videos of you know my webinars i do these every single week you tell me but hopefully this helps speed up your education there's no overnight get rich quick scheme but the more you prepare the more knowledge you have especially learning from traders who have made it who have done the seemingly impossible in an industry where 90 of traders lose that's how you get ahead so watch this and study up so trying to set up this webinar for challenge students i'm using my old key my old laptop you can see the keys are missing so i can't type some tickers so my laptop is all screwed up i've been using the new laptop but every time i use the new laptop the market crashes literally like we're like seven for seven it's kind of crazy i also messed up my ankle trying to run to a meeting in new york because literally out of control with my schedule having another record trading year right now having quadrupled the number of millionaire students to now nearly two dozen um if you want to click the link below you can apply for my challenge that's where all my millionaire students are coming from i'm showing you this behind the scenes thing not to brag just to help you understand how overwhelmed i am um it's crazy to be real in an industry full of uh scammers so for me trying to keep up trying to weed out bad students non-dedicated students so we're going to do a webinar right now which i do every week for my challenge students challenge students get two three sometimes four live webinars per week this is just an example one there's going to be multiple parts we're going to put it all on youtube just so you can understand what i do the multiple parts this is going to be a little organized for once we're going to go over different topics over the next two hours so i encourage you to watch all the parts this is just the the first one this is just the intro let's see how to do this how am i gonna ice it this is my screwed up foot you can see here it's a little black and blue can they see the black and blue oh god this is going to be cold yeah this is not going to work now screw it let's do it can you just grab my laptop i literally can't even put some water in there so it's like yeah yeah yeah yeah so we need to somehow get this maybe go lower i'll just ice it i won't elevate it you're supposed to elevate your ankle and ice it but you're also probably not supposed to give a live webinar yeah yeah drop it down lower because my foot has to like go into the bucket hold on let me start this live webinar just so that students can be let in ah ready yeah oh my god that's cold this is gonna be a painful webinar this is going to be funny students they only see my screen they don't know you know what's happening right now let me close this oh my god i'm trying to open the webinar software oh it's like an ice bath yo this is gonna be crazy i don't know you you tell me leave some comments below throughout this video and the other videos do you want to see more behind the scenes of how i do this this is this is so cold i can't even [Laughter] normally i like i was like icing it the other day and i had like a plastic bag that was somewhat doable but let's see the markets were up today and it was because i was using what's that yeah yeah put those put those in there that'll be uh like a a little thing for me we got some ice packs we got some ice yeah put it on top ah challenge students have no idea they're just like oh this is gonna be another webinar they have no idea what's going on um all right let me open this charting software oh i got my coffee here because i'm just trying to keep up this is like coffee number five webinar in two minutes all the students think we're a lot more organized than we are i don't think you guys realize like no one else is creating this many millionaires and now we have the millionaire showing all their trades teaching too um so thank you thank you to all my newest millionaire students matt monaco kyle williams jack kellogg mariana bryce is getting close he's at like 850 000. huddy uh dom uh dan irish so many more he's just like roy roy made 40 48 000 today roy devry's in the challenge chat room pretty amazing for roy um thank you to ellis art of war in the challenge chat room he's not at a million yet he's a little over 400 000 but he's on his way tim lento massive props to him in the chat room uh moderating giving great links he had a 400 000 trade just a few weeks ago he's now at 1.3 million he doesn't even want to talk about it publicly he doesn't want the attention because he's just trying to like deal with his trades and not be overwhelmed so i need you to understand like if being a millionaire and being a teacher and creator of millionaires it's probably not what you guys think it's it's non-stop um i can't i don't even know what people think i'm just trying to keep up i could not have envisioned this when i first got started teaching i had no idea how many scams there were i knew there were a lot of scams but i didn't know that there were literally like thousands of scams i get the craziest things um all right let me start this webinar now um where is it how do i start this i'm not good with technical stuff either i'm not like like people are like oh you made millions you're like a math genius or a tech genius none of the above i suck at math i suck at technology i can't even run down the street without tripping on my klutz so it's just it's just funny at this point um all right let's see so my software is is coming on up um but seriously leave comments click the like button let me know if you want to see more behind the scenes videos like this all right challenge webinar begins now type in yes in the challenge chat room if you can hear me if you can see my screen sorry for the delay um i'm literally icing my ankle right now trying to ice my ankle we're in a studio filming and i'm giving this webinar trying to keep up um some people are like is the webinar canceled no i'm just 17 minutes late this happens sometimes usually i'm like two or three maybe five minutes late this is just excessive blame my ankle blame filming in in studio you're gonna be able to see this whole thing uh you know we're recording it so you you know i i can't go to camera view on this webinar the software like cuts out when i show the camera angle but i'm literally filming this in a studio right now with my leg in an ice bucket so if you hear me scream like at random times during this webinar it's because of my ankle and i'm like ah this is this is gonna be ridiculous thank you for all the well wishes about my ankle i am multitasking this is multitasking to the max um not the best idea to ice your ankle during a webinar and be in a studio all day i know that i should take some time off but as i was explaining to the camera before i even started this webinar i can't take time off there's too much going on props to roy devry's student of the day 48 000 this morning i don't know did he get over 50. last time i saw he was at 48 000 on the day then he was going to take it easy but roy devries is one of the newest millionaire students thank uh roy congratulate roy if you see him in the challenge chat room how did i sprain my ankle so i was actually running to a meeting in new york so i'm not just late for you guys i'm late for everybody don't take it personally um i'm just trying to keep up and i was running full speed to a meeting in new york um and just i tripped i tripped okay there was like this there's like a great with like a stump wait pascal show them can we insert that photo did i send you the photo of the tree stump yes so we uh there's like a tree stump there's like a great with a tree stump and whoever was cutting the trees on the sidewalk did not cut the the uh stump all the way down and so i was running at night um it wasn't just a meeting it was also like a sushi restaurant reservation like it was like a fancy sushi restaurant and they're like kind of crazy where you have to show up on time so i'm running full speed down the street uh i'm like two blocks away from the the restaurant and i just go flying and uh i tripped on this tree stump great thing and i was just swearing i was like it was like i had like tourette's syndrome everyone was i saw a few people around me like horrified because i was like this big guy sprawled out and i'm just swearing not because of the pain i mean it hurt a lot but i was swearing because i knew my schedule coming up um you know four cities over the next week was the plan and i was just like oh my god i'm gonna have to deal with this by the way if this webinar shuts off at any point blame pascal um he was supposed to charge this laptop this is my old laptop and you know we're at we're at 59 we were we started this webinar at 62 so for whatever reason even while i give the webinar even while plugged in the percentages is going down um i was a little late but i still ate the whole sushi dinner as i was icing it i went to the er at like 11 p.m it sucked don't sprain your ankle um it just sucks but yeah yeah you have to turn your speakers down especially like there might be some screams mid-webinar like i've my foot is in this ice bucket and i am a baby i i could never be like a uh an athlete like athletes you know ice themselves after games and stuff like i've had this what like six minutes seven minutes and i'm already feeling it how did everybody else do i screwed up today i made about a thousand bucks um not exactly you know very proud of my trading there'll be a pre-market video lesson tomorrow on my trades and my screw-ups you broke your ankle playing dodgeball that's a that's a good that's a good injury that's a you know a battlefield injury on the battlefield of dodgeball i look at this as a battle scar too because i was like going to like a meeting in like my sushi restaurants which i love so it was like a you know if you get injured you want to get injured on the field of battle right like if you if you're an old school warrior from centuries past and if you die it's like you want to die like a warrior's death stefan made 671 leonard made 250. elaine lost 100 messed up welcome to my life i made like a thousand today and i messed up there were so many opportunities dip buying ilus dip buying cybl i was too early on both of them uh torino says they lost they left 16 000 on tgi on the table today huddy locked in what 32 000 yesterday on tgi the day before it doubled so i think he left like 50 000 on the table uh uh at least 007 usmc made 2k on ilus armand made 450.
tiger style lost 40 on psru uh atx trader lost 60. i like seeing small you know losses you guys are controlling the losses i know it's not fun like i'm not even happy about my thousand dollar trade that was basically a loss considering how much opportunity there was kj canned uh stayed cash and studied today good uh i don't know if you can hear this ice but it's like sloshing around lando lost about 50 bucks would have made good cash if i had ilus another three minutes and if you screw up like if you sell too early if you enter too early remember it don't just pretend that the loss or the mistake didn't happen um you know learn from it for the next time we'll probably have more dip buy opportunities on ilus and cbyl in the coming days so it's not like oh the stocks will just stop trading there'll be no more opportunities recognize what you did wrong if you watch my pre-market video lesson tomorrow morning you'll see that i wanted ilus too badly and this is you know this is the first topic i'm gonna divide this webinar up into different uh topics we're gonna go for like 15 minutes per topic and starting right now on this topic where i was entering ilus and pbyl or not pbyl i'm sorry there's too many uh too many stocks um cby out why can't i click the chart c ybl i don't even know why i'm saying it wrong um i got the bottom on cybl but i didn't have the patience to hold for the bounce and it was also a double bottom which you know i'm not usually great at double bottoms just because you never know if the second time is going to actually bottom or not so i don't mind being too early on that one ilus was my big mistake today and this is you know this is this section on you know morning panic dip buys and and dip buying too early um i think it's really important and i know this might sound weird but it's important to not want to trade okay everybody right now type in the comment i do not want to trade i think that it is very useful i know that you're a trader i know that you're here to trade you want to be my next millionaire student who trades but you shouldn't want to trade right away you should want to wait for the best plays because if you don't want to trade right away then you can have more patience so it's it's counterintuitive but you know this is why i think of myself as a retired trader even though i basically come out of retirement every day this is one of the many lessons that i've learned over the years and i screwed up today because i wanted ilus like it's it's a little personal for me because like their promoters are literally attacking me on social media claiming i'm shorting the stock i've never shorted ilus i haven't shorted any stock in nearly two years um and i let that you know my preparation like i had the pre-market video lesson today i was waiting for the panic i nailed the morning panic at the open but then me wanting more wanting to be like to be there for the big panic and the big bounce that led me to get in a little too soon and not gonna lie even though we had this nice panic there was one green candle here um at around 29 cents that was my fake out and my mistake was okay it's panicking it's taking out the day low i'm getting exactly what i want but i lost perspective where yes it's down to 29 cents but the day low was 31. so really it's only dropped two cents a share that's not a big enough panic to really get aggressive on but because i wanted it so badly i lost perspective and i got in on that green candle which turned out to be a fake out and then i lost nearly a thousand um that was that was my mistake for wanting it too much and giving in to the temptation to trade and this is what you'll find your most successful trades will come you know they'll stand far and away above other trades they'll come out of the blue um you can't plan for them i mean you can kind of guess like okay if a stock has been running like three four five six days it's gonna fit a good pattern but you can't say okay i need to buy it at this specific dollar amount or this specific price because once you tie yourself to a price or a dollar amount or like a specific plan you lose objectivity and that was that was my fault because then ious did have a nice panic but the the biggest panic and the best opportunity came about when i was selling from my entry that was too early so i entered it basically around 29 i sold it around 28 not a big deal but what if it had gone down to like 26 or 25 or 22 or 20. i opened the door to disaster by wanting it too much and when it didn't bounce when i thought i like kind of like snapped out of it and i was like oh damn this could panic more so some people are like oh how do i always catch the bottom you know in this case i didn't catch the bottom i i i gave in to my addiction and my temptations and that cost me um and congrats to anybody who who did it better i mean 26 27 perfect bounce to 30 31 32 in the course of an hour um you know 20 25 gain it really doesn't get much better than this and i just psyched myself out so that's that's tomorrow's pre-market video lesson but that's like basically a summary so with morning panic and dip buys like you really have to be careful um you know you really have to try not to trade and just be like i don't need to trade i don't need to trade i don't need to trade um and then get forced to trade when you would feel so guilty that you would be missing it then you come out of retirement um and understand if you think of yourself as a retired trader and you're like trying not to trade so much you might miss it because you know for all i know it could have bounced where i bought and you know i would have had a little profit but the best profits are not going to be little the best profits are going to come when you don't you know want to trade i don't know if this is blurry or not i'm i'm in a freaking studio but we're we're literally filming it too so you're going to be able to watch me give these little speeches but just listen to the sound of my voice i mean you you have the ilus chart this isn't rocket science this is just mindsets in perspectives so i like morning panics and dip buys i think that they're fantastic i do better with morning panics near the open so it's not a total surprise that i didn't catch the bottom on on either of them or i did catch the bottom on cybl i just didn't have the patience to hold but it's not a surprise that i didn't really nail either them because i'm much better near the market open and you have to you know know what you're better at you'll find what you're better at you'll learn um you know so tomorrow part of the reason why i like giving these webinars is maybe by tomorrow um you know i'll be in a better spot uh to be prepared for any morning panics like cybl and ilus could easily still panic again and i'll be much more patient or i'll try to be more patient tomorrow you know i can't guarantee anything but i'll try to wait for more panic given the mistake that i made today and that's what you need to do with every failed trade or substandard trade you got to learn from it but morning panic dip buys i mean this is this is where it's at so ilus um is now way off of its highs you know the high was 41 42 it got all the way down to 26. so let's just do some basic math 15 divided by 41.
you know that's a 37 drop off the highs and i'm sure if i went to like exact amounts it would probably be like 38 which is a classic fibonacci retracement i'm not a big fan of advanced technicals but i do find that fibonacci retracements work and in this case you know it was the perfect fibonacci retracement level so that was uh that was my my mistake uh derek says took an entire year to really get and apply what tim is saying right now and i get it like if you're a newbie trader and you're like what the hell is he talking about like you don't want to trade like have patience like people just like give me the pattern give me the pick that's all i want to be a very successful trader it's not about giving patterns or giving pics it's understanding what you do what you do right versus wrong and then adapting from it so you know maybe you missed it because you don't know the patterns what can you do i mean study the patterns better to me the pattern is clear as day but i did not master my emotions so i have to do better on that and even if you don't understand what i'm saying right now even if it doesn't apply to you because you're just a beginner trader what i'm saying now will apply to you at some point in your trading journey so whether it's a year like it was for derek or two years or three years whatever it is it's it's gonna apply because these are you know evergreen lifelong lessons that i've learned from from trading tom r says uh started with 40k and then 80 days of paper trading him up to 773 000. yeah i mean paper trading is is good to start but it's just not realistic like you know you don't get partial fills on paper trading because it's not real trading so you can just be like oh i got this nailed this nailed that next topic so morning panics that was my little my little talk for morning panics or midday panics
2021-12-03 22:18
