As a trader, you must always know the stock market basics before entering different kinds of trades.
If you’re entering a trade you should always know what stocks to watch out for are and what the best cheap stocks to make money from could be.
If you’ve been trading for any length of time now, you’ve probably heard the name “Timothy Sykes”.
TIMOTHY SYKES: The Penny Stock Trading Prodigy
Now, who is Timothy Sykes?
Tim Sykes is a self-made multi-millionaire in penny stock trading. He is known for turning his $12,415 of Bar Mitzvah gift money into over $4 million in trading profits. Tim is also the number 1 ranked trader out of 60,000 investors on Covestor.
He began his career in 1999 while attending high school.
Tim used his $12,415 Bar Mitzvah gift money and started day trading penny stocks. His investment granted him about $1.65 million at the age of 21.
Sykes graduated with a bachelor’s degree in philosophy and a minor in business from Tulane University in 2003.
Tim primarily focuses on penny stocks. However, he is now earning profits in different market conditions. Known for being a trader, he is also a prominent entrepreneur in the day trading community.
He works as a financial activist and educator. Besides making money for himself, he loves helping other traders by teaching them how to make money in which resulted in him having thousands of students in over 60 countries.
He also self-published AN AMERICAN HEDGE FUND: HOW I MADE $2 MILLION AS A STOCK OPERATOR & CREATED A HEDGE FUND in 2007 that documented his experiences from day-trading in college. And in 2012, Sykes created “Miss Penny Stock” a financial beauty pageant among the female representatives for his brand and company.
Sykes also launched websites like Profit.ly (A social trading platform), Investimonials (A financial product review site covering brokers, newsletters, DVDs, books, websites, blogs, software, and freebies), and StocksToTrade (Trading Platform).
Learn More About Tim Sykes and how his students have now made more than $16 million dollars here;
What Markets Does Tim Sykes Trade? PENNY STOCK MARKET!
Now, what are Penny Stocks?
Penny stocks typically exchanged at a relatively low price and small-cap stocks. Contrary to its name, it rarely cost a penny. Pennystocking is trading under $5 dollars a share – to gain profits. They often trade over-the-counter (OTC) through the OTC Bulletin Board (OTCBB) and pink sheets.
What is OTCBB?
OTCBB or over-the-counter bulletin board is an electronic trading service provided by the National Association of Securities Dealers (NASD). It offers investors and traders over-the-counter information about updated quotes, volume, and last-sale prices.
What are Pink sheets?
Pink sheets are publications containing bid and asking price of stocks traded over-the-counter (OTC Stocks). It is compiled daily by the National Quotation Bureau.
Pennystocking is not about buying positions in leading companies and holding them for long-term. Pennystocking is like driving a car on a steep road, the better you learn to drive, the bigger the profits.
In Pennystocking, always consider all the variables because 90% of traders lose money by making this kind of mistakes.
Timothy Sykes Strategy
Find Your Niche
Figure out the strategy you are most comfortable with and focus on what could you profit the most from. Settle in one unique area and spend your time learning everything as it could help you get the success you’ve been looking for.
Start Trading Small
It’s very important for you to understand that rushing into things may lead to bad things. Don’t rush into the top penny stocks and don’t put a lot of money on the line for immediate returns. So if you just got started, start investing small and avoid making dumb mistakes. Aim small, miss small.
Buying Pumps Early: Risks and Rewards
It is one of Tim’s favorable strategies and one of his most profitable one. Be careful not to chase too much. Chasing for a fill is not worth the risk. Remember that this infamous strategy lost some favor among people.
Blowup Your Profits
Protect yourself and take a short-term approach. Don’t end up being in the long list of traders who suffered from an account blow up. Sell when the stock is still strong, don’t wait for it to turn around on you. Sell out your picks early and leave big potential profits to protect yourself from a disaster.
Don’t Let Emotions Take Over
Trading can be very exciting and if you let your emotions and your excitement control you, you’ll end up investing in places that your desire take you and you’ll miss great opportunities on your trade.
Benefits of Penny stocks trading
The first benefit of Penny stocks trading is that it is very cheap and some literally cost a penny per share. Penny stocks are inexpensive and more accessible to stock market newbies even if they are working from a small account.
It also has a very high potential return as it has a relatively small investment that could potentially offer a big return if it went right. Penny stocks can also diversify your portfolio because as an investor, diversity is important.
“Making money trading stocks takes time, dedication, and hard work. My goal is to teach you how I have succeeded in the market, but you may not achieve my results. Remember, there are risks involved with investing, including the potential loss of money.” – Timothy Sykes
You Can Learn More about Timothy Sykes and How he Does it at His Site Profitly.com