Tim Sykes Trading Conference 2022 Review

Tim Sykes Trading Conference 2022 Review

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what's up guys it's David AKA reverse  long and today I got uh a review on the   Tim size conference in 2022 which  was in Miami uh the past few days   October 20th but it was from October 17th Monday  and then October 18th Tuesday at the Hyatt Regency   next to the Miami Convention Center I actually was  there earlier this year to do a Bitcoin conference   before I was uh I returned to Puerto Rico um  this must have been and January or February   I forgot but um it's cool because like I'm from  Miami originally and it's always good to go back   and have you know go see my family and friends or  whatever and also be productive at the same time   um but yeah that place is where I saw the Power  Rangers perform and the Ninja Turtles this is   um in the convention center right next door like  the door over from the where the conference was   so it's always cool to go back get some Nostalgia  you know what I mean but um even more even more   powerful for me was like you know so I started  with Sykes and for a long time and so the last   conference was out in uh 2019 I think yeah 2019.  I remember seeing you know the post on profitly   afterwards and seeing you know I follow everyone's  story pretty closely especially back then I was   uh you know trying to find out as much as I can  with trading and uh but one thing you hear Tim   always says like watch the videos over and over  and over and I was one of the few that actually   watched all of them even even the ones that are  like fluff videos and stuff I just I didn't know   any better you know I was coming from another  industry uh as far as like architecture and grad   school and all that and like I knew I didn't even  know what a stock was I I didn't even I couldn't   comprehend anything I didn't know I didn't  know so when he said when successful people   um say they do this I just do it you know so I  watched all the videos and with that I learned   all the story from the beginning like  of of Jack Kyle um you know Art of War   you name it man I I Mark crook lentil good all  the mentors that they have in there I saw a hoodie   and rolling wolf everybody you know so I know  everything of one like they were under like three   figures or whatever uh six figures like under 100K  to now like where they hit like several million   I know the whole story man I know the whole  backstory so I was like um yeah so it was cool to   see everybody in person because like when I know  back then when they had the conference in 2018 and   19 and I would see them through the videos I was  completely broke I was in a bad point in my life   and I will look up to all these people no it's  not even that many because so very little people   actually making a trade but to see the progress  of like the six figures to a million for us all   these students I mean back then it was only like  a couple of students that were like that of his   like uh Mark crook I remember was up like 300 400  000 to that I don't know way back and I've seen   him now he's like up four million and you see all  these other guys that are up a lot you know I saw   lento lentil was up like 250k and now he's up like  three or four million or something like that and   then seeing jacked like it was like 100k doing  like the steady trade podcast 100K Tim Bowen is   like so I know the whole story I saw like rolling  wolf from under 100K to like where he is at now   Etc I know I know everybody's story so to go  there and and see everybody in person and like   oh and talk with them and like see how down  to earth they are I think it's it's cool man   and I think that's what separates like the Sykes  Community is that uh it attracts people that start   with a little bit of money and don't know anything  that are pretty fresh you know so everyone's   backstory is completely fresh as opposed to  other groups out there that people start with   like an over PDT account for the most part yeah  it was a a sorry over PDT account and like uh   like some kind of understanding of finance of like  what the qqqs are doing or what the Spy are doing   or what's the CPI or this and that people come  in with that kind of background already that   kind of knowledge even though they're they're  not profitable at all they still have some kind   of knowledge of markets and they have some kind  of like big savings or something or I don't know   some kind of capital 25 30k to start like an over  PDT account just like that or more you know and   um and a lot of those people fail you know this  is what it is but um the psych students that   that became successful they started like really  fresh and just like myself I started like barely   anything like I said in 2019 I was Baroque is a  joke and if I was to um get into it it'd be kind   of ridiculous like kind of a lifestyle I had back  then you don't want to know but um now it was cool   to be there and uh finally get to see everyone  man it's like it was awesome so yeah some of the   people I met all right so Jack Kyle I'm an Art of  War Dave Hanlon came through that was pretty sick   um rankana clay clay Roth Eduardo Alex Chavez  I met the guardian and success reader guys uh   trade zero was there I didn't have time to talk  with them but um you know guardian and success   Street I have accounts there was cool to talk  with them in depth after talking with them a   lot on the phone but um also I met one student of  vesh I think vesh is cool he he reached out to do   a podcast with me he started like he was inspired  by like Matt Monaco by me started doing podcasts   like he started wanting to increase his learning  and he invited me and Eduardo and stuff to go on   and at first so like you know the reason why I'm  mentioning him is that I think he has like a good   head and shoulders you know so this is a uh he  plays like um college tennis it's always good   like college athlete understands discipline  and uh and focus and all that so College   athletes I'm always you know it's always a good  thing and like prop firms they actually recruit   College athletes because of that you know so the  mindset is different um but vesh made a good point   and I'm bringing this up because like so Kyle is  vegetarian and Tim always Tim Sykes always gives   him a hard time for being vegetarian whatever and  you know it's like this is uh funny I guess but   uh vesh pointed out okay so like it's like fomo  like to avoid fomo it's like you know you it's   like it's like a vegetarian and you present like a  steak in front of a vegetarian like a really nice   100 steak in front of vegetarian the vegetarian's  not gonna eat it because he's vegetarian he's not   good it's just no he just doesn't do it so it's  the same thing with trading and being selective   is that knowing your your plays and knowing  your setups and that's what you do you know so   um yeah so like that's an interesting take  on it you know a beautiful take on it so   um yeah in the future I'll have some podcasts  talking about that as a topic for sure   um I want to make this a quicker podcast than you  know just a review I did a Ducks uh conference   review so this year I've been going to a lot  of conferences man I even lost track I went to   the Bitcoin one I went to several Bitcoin when  I wanted one in Dubai uh I went to ducks's two   day one I went to a hedge fund one I there's a  lot of conferences but I made it a point this   year to go to conferences and actually I wasn't  even going to go to Tim's conference I was tired   um been focusing on trading and finishing the year  strong but I was like you know what I'm going to   regret not going and you know I've kind of looked  forward to this for a long time I've wanted to go   to these things and meet everybody you know it's  uh because these all these people as a unit as a   group uh have really influenced uh my you know  my journey you know so it was cool to finally   meet everybody and and like yeah everybody  was cool man everybody was absolutely cool   um what else yeah rolling wolf yeah we talked we  talked and uh I liked he he mentioned he has like   a routine where he does like a 20-minute fishing  routine he goes fishing for 20 minutes every day   um before or after the market I don't know but  he's a routine like before he picks his kids up   from soccer practice or something he goes fishing  and like fishing correlates to trading it's like   um it's like you know it's it's he uses fishing  but it's like you can do it with a lot of things   that's the beauty about like trading and and  things like that you can pick up things from   other areas and apply it to trading so fishing  was that for him and you know he's like with   fishing you got the weather that's involved the  fish like different things you got to be patient   you know there's all these and and sometimes you  get nothing sometimes you come out so there's a   lot of correlations he's doing with fishing  and he he made that part of his his uh daily   routine now to fish for 20 minutes which at first  he's like wait only I was confused like you're   just fishing for 20 minutes how do you do that  then I asked him and he broke it down and like   really good details you know he's really good  explainer um what else it was cool to meet Adam   Jarrett again you know so Adam and I go way  back Adam Jarrett is is uh Tim's nft guy and   uh it's just really cool to see Adam all the  time you know we I talk daily with him anyway   online and stuff but to see him you know in  person in the Sykes you know whole team is   is pretty sick because like I've seen Adam um  come up with this whole nft things from like   since like a year and a half ago or whatever  when he came to trade space in Puerto Rico   um to trade long and stuff and you would also  trade nfts and he was making money off this   Soldier flipping nfts or so I don't really  understand it completely but he would like   like trade the nfts and um and then like you  know he would talk about like this is cool   about trade space is that you're exposed to so  many different things that's like Market related   I learned about options in there nfts crypto all  types of things that like I wouldn't want to like   go deep in myself like I don't have time like  here on my own I'm in my office like I have I'm   so swamped but when you're like immersed in in  there you're hearing conversations as you go to   the kitchen or you're in a conversation as you're  just come in the office and go grab a coffee and   then you're having a car you know it's like you're  immersed and like so that's one way to learn these   things you know and like I've and then I created  the podcast over there so you know just being   in that environment that's where I I found out  about Adam and his nfts and I saw him firsthand   we became really good friends in in Puerto Rico  and then he he was talking about how the the Cool   Cats guy would like mentored him gave him some  ideas and in Puerto Rico I saw this happening   and then like he disappears for a while and then  all of a sudden he yeah he I guess he he locked   himself up in his apartment and then came up with  the bellugis with this little sister and then like   it went crazy they made a ton of money and then  they donated a ton of money to like all these   really cool cool causes like to save the whales  and kids and things like that really cool thing   um and I think he was inspired uh by Sykes and  his uh Karma gawa and all that and then they   collaborated and look at him now man you know the  guy's killing it and um yeah and and people forget   that he was like he's actually a six-figure Trader  it was long so like I don't know it's really cool   to see him there man I think that's a really  underrated guy um yeah shout out to Adam Jarrett   man um yeah so I also met uh it was crazy I've  interviewed a lot of these people I interviewed uh   Kyle karankana Jack came on David Hanlon Eduardo  uh I've had a lot of his people on the podcast   Even Adam Jared I've had him on the podcast too  a few times um but yeah I got to meet handling   there man handling gave a sick breakdown on his  eyelag and like you know you see these tweets of   David uh talking about like his discipline was off  and like when he shorted ilag like you know there   was a lot of other things off with this trading  so like besides now he's he's putting a broker   stop of 40K and these other things and like that's  why you know when you go to these conference you   hear these little details that are so important  you know that's why like when people ask me hey   Dave you want to make a clip I don't tldr right  is that what it's called too long didn't read man   I don't I don't care for that man I'm not here to  make clips for people so you know because like the   way I Learned was watching everything in full and  then like while I multitask or something and then   there will be like some some uh you know really  important Little Nugget of insight information   like in five seconds and I'm like whoa wait a  second I rewind it to hear it again and that's   that's what you look for so like for example for  me you know in this case when David mentioned the   40K broker stop you know um that's one and then  there's like a few others so it's like you got   to listen to the whole thing so like that's why  the clips I don't make too many Clips if I make a   clip is because I want to listen to it personally  a few uh many times and um I and you know that's   it's mostly for me but like if someone else wants  it there you go you can have it too but I'm not   here to cater to noobs that want to hear to grab  their attention and hear two minutes uh two minute   Clips or whatever uh you know and all you know  it's just not what what uh this podcast is about   um you know like you know that kind of stuff so  trading is difficult this is one of the hardest   things uh you can do you know you're competing  against the best in the world I think um who   now I think he is he did a did a video with be the  story Alex Alex Bustos he's like you're competing   against like the richest people the most crooked  people the smartest people so like you constantly   you know gotta keep adapting and like you know  getting a two minute clip because your tldr is not   gonna work you know that's that's not the mindset  I have so like I don't want to even cater to that   you know so even even if the clip would help I  don't want to do it because like I don't wanna I   don't want to promote the like this is easy here's  the two minute clip you don't need to watch the   two hours here I don't want to do that you know  I don't think it's I don't think it's it's gonna   it's helpful at all for trading it's gonna get  bad habits especially for newbies because like   the problem with with uh having information out  there is that newbies think it's easy and and uh   they get the wrong message and then they suffer  you know the poor the poor fellas they they gotta   they suffer and sometimes too much sometimes  they they eat too much where where it's like   it's it's really detrimental to the person so like  I don't want to Cave into any of that that uh that   behavior or that mentality but anyways back to the  to the conference oh yeah so on on the way there   I took this book studies and tape reading I  read about half of it on the plane I didn't   read it on the way back but I'm going to finish  it it's very very easy to read man what a good   book so it's like this was written like in 1910  by Rolo tape Rollo tape is a is that how you say   I think the word is pseudonym is the pseudonym  for Richard Wyckoff and man it is so relevant   to like now this is timeless this is about tape  equivalent to like level two and time and sales   100 so they used to get it like uh 15 minutes  delayed I think it used to be like Morse code   anyway I'm gonna do a book review in the future  again I need to jump on the the book reviews I   like those um I got a ton of books to review and  encourages me to really focus and read the books   um but yeah what else so lento lentil what man  I'm a big fan of lentil stuff you know one of the   underrated uh webinar mentors um I learned most  of my shorting you know people say like okay what   with Sykes what strategies you learn you  know that's one issue a lot of people have   they want to learn strategies for me um I mostly  learned everything fun like fundamentals like a   foundational sites like what the stock market how  all the rules all the what people you know all the   basics is with Sykes you know you can't go wrong  with that now as far as strategy he has other   people in there that teach on a regular basis uh  different strategies for example Mark Crook and   Art Award they like to do afternoon breakouts is  one example um Jackie Kyle likes first red days   uh things like that and for example it's lentil  what I'm talking about now is the Chinese pump and   dumps well he's always done pumping dumps and I've  watched even from back in the day like uh the paid   pump and dumps and the emails and all that but now  lately it's it's morphed into like Twitter pumps   and telegram pumps and then now uh these China  pumps it's a whole other animal and um you know   he's done very well with it and he was talking  about how he has no risk management almost poor   risk management and he has trouble cutting losses  so what he does is he doesn't trade he just trades   one thing the pump and dump or he knows the end  game he goes straight up straight down and it's   basically don't position your size yourself so you  don't get margin called and you know when the fee   rate is extraordinary you know the borrow fee rate  you can't hold it overnight you got to minimize   your holding overnight because I know lentil has  held uh for example like a 400 borrow fee rate but   if if the if the if it's late in the pump and dump  and his position size is enough and he's willing   to let's say lose 10 to 20 grand with a huge  position uh for holding it for a couple of days   to give it a chance then that's what he does but  yeah so it's it's interesting to hear his strategy   and because like I am I I came into the game I  was sold on the Tim Sykes stuff early on because   of the pump and dust made a lot of sense to me as  someone that was getting out of grad school 2016   and I was like all right I understand this you  know and so this is how people are getting rich   in the stock market I see so like there's people  working like I am as an architect at the time nine   to five doing all this stuff and having a 401k  whatever while there's other manipulators Banking   and getting super rich off of uh manipulation of  Market manipulation so like and that was that was   a that was an aha moment for me and and that that  came to me before I even started trading so I saw   months like two months of of psych stuff  on YouTube uh all and it was a lot of that   a lot of pumping those how like the company has a  headquarters in a in an RV or something and and uh   the CEO has a history of fraud blah blah whatever  but anyways um lentil yeah he went over the   you know uh his China strategy and stuff which is  cool to it's actually it was just very interesting   to say him say and I guess he has to say it to  everybody there because like what happened to ilag   um last week ilag is that you know this kind of  play you can't really it's not for news and and   uh noobs need high high quick risk management  you know like you gotta you gotta have really   tight risk you know so because you're a noob  and you have a small account you can't trade   an ilag you know he wrote out the whole I  like he wrote it out because like he knew   the end game it was just gonna dump and he  and he has a huge account and he positioned   himself uh to be able to absorb a worst case  scenario really worst case scenario squeeze   so like that's the thing so like you know um  I heard a lot of horror stories about ilag   um and it's unfortunate but like why would you  short something uh so big size when it's flat   it was flat when it started then it's boom it  popped it it squeezed so like apparently it was   a broker that probably saw everybody in one level  and they just did a market order out for everybody   and uh there was not enough time for to get even  if you had tight risk there wasn't enough time to   get out and um to get out at your risk level so  now you're just you're leaving it up to it's in   God's hands now and uh yeah you know some people a  lot of people blew up and um some people that had   all their money in one account blew up and on and  that's a shame you know and but but also it goes   back too so Jack Kellogg was the one that opened  up I think he was one of the first to open up the   conference and you know the topic of the of the  day over there was was a lot of it was I lag uh   ileg but Jack was saying you know he's focusing on  like diversifying his Investments and you should   have like if you're at that level where you're  shorting um an I lag or something and you know you   you should have multiple accounts you should have  money outside of trading that you Diversified   um yeah that's always been something that I  had in mind you know what I mean I I myself   I have five different accounts now you know when  I make enough money with one account it it sucks   to pull it out pull the money out of the account  because now that account is smaller you can't go   as big but uh it's protecting yourself you know  I want to be in this game for a very long time   you're very lucky for like for a long time  I have a lot of goals that I could reach and   sometimes we're human beings sometimes when you're  trading at a at a higher level then then you know   enter then then intermina say advanced level  um you can still make an error that could be   costly one one trade could wipe you out so that's  always been the case you know it's always been   um you know you gotta watch out for that so to  protect yourself I see it as like the Titanic you   know the vote it eventually it sucks so that's not  good but they designed that boat with different   compartments so like if one compartment got full  of water they just shut it down and now it could   still float and but you know it the ship scrapes  enough where like multiple compartments got got   hit and it sunk but it still sank very low where  the people could swim out of the boat there was   still there was a it wasn't like the first the  percentage of survivors I don't think was long   that much I don't know the numbers at all but uh  but if I'm seeing you know there was there was   a all the all the life jackets uh were used let's  say that so there's people that survived that but   anyway the main point is is that you gotta like  compartmentalize your your trading you know you   got to be Diversified you can't have all your  eggs in one basket where something happens even   if you're like you're watching that basket so  much you know um something can still happen man   there's black swans you know black swans is  is a real thing um yeah you gotta you gotta   protect yourself you wanna be in this game the  main thing with trading is to stick around gotta   stick around there's a whole mine fueled a  whole like graveyard of um of potentially   traders that could have potentially been even  like Market wizard level but just blew up too   early you know but yeah um that was one  thing that's really cool to hear Jack say   um also go I got to meet Art of War finally you  know Art of War Ellis Hobbs uh I've been working   with him lately he started a company about credit  uh credit restoration and stuff and like you know   in the past when I was like in grad school and  college for so long I did some damage to my credit   and uh now I now we've been fixing it lately past  uh year and um it's been working great you know so   shout out to Ellis man he's doing a lot of cool  stuff with that um but also he's a great he's   a good Trader he's a good Trader he has very good  discipline he's uh this this guy he's humble he is   humble man this this is a really good down Earth  uh person um we did a podcast before um for like   30 minutes we're gonna have another one in the  future near future but yeah so one thing I liked   what he had to say was um about professionalism  how he approaches uh trading how he did like with   football like when when the crowd is bullying  he still has to perform at a high level he's a   professional but when the crowd is cheering same  thing when he's given a kick return he's got to   take it the coach has to do it even if he's tired  or whatever he doesn't you know and he he was   also I think he was a kick returner and he was um  cornerback or safety or something but he actually   he had to do multiple positions he was you know  and he he holds the longest kick return in the   NFL or something I think it's like 100 eight  yards um one of these he's like yeah so like uh   he has that but anyway um the whole his whole take  on professionalism is is important you know so   um can't wait to look at that again once  Tim releases it on video but uh what else   let's see so I was supposed to interview Tim so  October 19th which was yesterday was exactly a   year um from when I interviewed him last and he  was last year he said hey David let's we're going   to go over your trading uh next year on October  19th to see how far you've come and I wanted I   wanted to I wanted to do another podcast yeah I  was busy and I was tired uh lately it just been   a lot going on and so the podcast is going to be  a little slower I'm probably gonna just put out a   lot of Clips you know a lot going on but um yeah  you know I wanna I was excited to tell Tim like   I've definitely had a lot of improvement over last  year so everything is going great but yeah no Tim   Tim was cool so so yeah Tim they actually had like  an nft uh boat ride afterwards I didn't go for   that but like yeah that was that's cool um what  else trading while traveling yeah I traded very   small I didn't trade much over there it was cool  to be trading disciplined you know just very small   I wasn't looking I was like you know what I'm I'm  my goal is to meet everybody here the supersedes   training at the moment and because especially if  I trade now I I could probably not going to trade   at my best so I put trading aside I think I placed  a couple small trades you know here and there but   that was about it um what else definitely looking  forward to going to all the next um a few next Tim   Sykes ones you know this is the one one event uh  that I like the most um because like all the all   the early work I put in by watching all those  videos on properly that really a lot of people   don't like to watch uh they only want to get down  to the nitty-gritty but I I really like to hear   the stories of the people grinding you know how  Jack Kellogg grinded from like you couldn't even   pay the the kiosks at the mall two two grand  was selling these pillows and nobody wanted to   buy or Kyle starting out from like six thousand  dollars and growing it little by little and then   um having hundred dollar risk in the beginning  and like or like met Monica wiring out every   day and like you know it's just like all these  stories man um it's just it because I was grinding   so much and I think for when you're starting  out small and um and and like you know you're   trying to you're under PDT and you're studying out  putting all this work and trying to like you know   get over the PDT and just grinding and trying  to get all the knowledge there's gonna be a   lot of people that doubt you there's gonna be  a lot of trial and error uh what do you call it   um all that stuff all that stuff so it's it's  good to hear that what other people went through   and related to your circumstance um but yeah what  else oh yeah and finally I gotta hang out a lot   with Eduardo man Eduardo hey it's always fun  hanging out with Eduardo and the Latin Traders   um you know I myself forget to practice my  Spanish and uh and get back to the Hispanic   Roots you know what I mean so but yeah no I  gotta meet Alex Chavez there another sick Trader   um and just again we went to dinner had dinner  with Guardian had dinner the next day with success   Trader oh man Miami's great uh eventually I want  to get back to Miami you know that's that's my   hometown it's good to see where my hometown has  developed the past 10 years or so you know uh   Miami's the spot uh and I will be heading back  there eventually as well as Puerto Rico so when   Puerto Rico's already first but anyway um that  covers that that's the conclusion the summary of   the Tim Sykes event from October 17th and 18th  and yeah I'm looking to go next year as well   um thanks for listening to  the friendly bear podcast

2022-10-24 11:06

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