Timothy Sykes talks about stock trading in his recent interview, “If you look at industry statistics 90% of people who trade stocks lose money” said Timothy Sykes.
Timothy Sykes makes no bones about being successful, “I turned my 12,000 Bar Mitzvah money into 5 million dollars” he said and he added, “I did it on my own”.
“I turned my 12,000 Bar Mitzvah money into 5 million dollars”
Timothy Sykes talks about stock trading in terms of trading strategy
Timothy Syke admitted in the interview that his trading strategy is not scalable.
“I much better at turning a few thousand dollars into six figures” he said. But his trading style is not so successful with large amounts. “I can’t turn seven figures into eight figures or a billion dollars” he added.
So Timothy Sykes talks about stock trading within the context of penny stocks
“I trade small-cap stocks, penny stocks” he said.
Timothy Sykes acknowledged that he made most of his money short selling penny stocks.
“I much better at turning a few thousand dollars into six figures”
Penny stocks are less regulated and are notorious for scams.
“You can bet against these scams, you can also ride them up if they are good companies” he added.
Timothy Sykes talks about stock trading in terms of understanding risks
“You need to know the risk you can lose more than you put in. Short selling is now a crowded space which makes it even riskier because these stocks are rising more than expected” he said.
“In the penny stock world sometimes the worse fundamentally flawed company can become the best performing stock” – Timothy Sykes
Staying disciplined was a feature in Timothy Sykes’s talks stock trading interview
“I drilling rules into my students I go in hard because I want them to stay disciplined” he said. “I teach a structure and gamble with a disciplined plan. If you have no plan and no discipline you’ll join 90 percent of people who will lose” he said.
“I expect the worst out of every company I am in the stock for the price action” he added.
But it is when Timothy Sykes talks stock trading, particularly penny stocks is where his best trading is revealed.
“In the penny stock world sometimes the worse fundamentally flawed company can become the best performing stock” he said.
“Rule number one is to cut loses quickly, these penny stocks move fast” he said. “I am trying to find the arc some days it last two days three days” he said.
Timothy Sykes talks about stock trading in terms of his best and worst days. “In my best day of trading I made $215,000 and the next day I lost 180,000” he said.
A trader’s strategy known as boxing was also discussed in Timothy Sykes’s talks stock trading interview. Boxing is when a trader has two accounts, one short and one long and saddles both positions ideally to profits.
Timothy Sykes talks about stock trading in terms of being able to benefit from the exponential income
“The beauty about stock trading or even making a video is that if it gets 9,000 views or a million views you have done the same amount of work” he said.