My {Tips for} Success**
{Today} I gave a live trading challenge webinar and promptly dip bought Turtle Beach Corp (HEAR) at $10.70, {searching for} it {to check out} this pattern that I tweeted about earlier since it’s a Friday morning:
{Be sure you} {search for} this pattern today https://t.co/NO9DTWJFAc Fridays are special!
– Timothy Sykes (@timothysykes) May 11, 2018
{Affirmed} the Friday morning spike pattern {coupled with} this strategy {that’s} so hot {at this time} combined {to produce a} MASSIVE spike of roughly 50% from my buy alert! {Browse the} awesome 2-day chart {with this} earnings winner:
Now I didn’t expect that big of a spike and I sold wayyyyyyyy {prematurily .} {slightly below} $11, but {it is a} GREAT {exemplory case of} {the type of} upside potential that exists on my strategy…and the $5 million that I’ve made {in the last} {couple of years} {is merely} barely scratching {the top} (hence why my top trading challenge student has made $6+ million in 1/3 {of that time period} that it took me!)**
So, {do you wish to} know my {tips for} success? I’m {pleased to} share them with you.
Nearly {twenty years} ago, my parents gave me control of my $12,415 Bar Mitzvah gift money, and I used it {to create} my first million buying hot {very cheap stocks} breaking out to new highs. ** Then, I made my second million shorting those same {forms of} pumped up {very cheap stocks} {because they} crashed, while mostly {everybody else} lost money by not adapting to the changing market.**
{The truth is}, though, while {I’ve} made {lots of money}, I’m {definitely not} smarter or {not the same as} anyone else {attempting to} {ensure it is} as {each day} trader. I’ve had struggles, and I’m {not at all} right {constantly}.** {I believe} that my story should inspire others {to trust} {they can} {take action}, too. Here, I’ll share {a few of} my so-called {tips for} success. Hopefully, these will {motivate you} to {observe how} much {that you can do|that can be done} as a trader.
Download a PDF version {of the} post as PDF.
1. I don’t play {in to the} BS. Some {prefer to} say “{those that} can’t do, teach”. That’s {false} with me: {I’m} {a dynamic} trader, and {I love to} be transparent. {There are many} so-called teachers {on the market} who {actually just} {desire to} {make the most of|benefit from} would-be traders. That’s not my approach. {I wish to|I would like to} cut through the lies {and provide} real information. {That is} {section of} my goal with the Tim Sykes Millionaire Challenge. I don’t {think that} knowledge {ought to be} hoarded.
2. I see {very cheap stocks} for what {they’re}. {Very cheap stocks} are stocks which {can be found} {at under} $5 per share. Typically, {the firms} offering these stocks are small; maybe {they provide} 1-2 products. They don’t make much money, {and therefore}, most investors {aren’t} interested. They’re considered long shots. {Whilst every} {occasionally} {you may get|you will get|you can find|you can obtain} lucky, usually {many of these} companies fail. However, this fact {can in fact} be used {in your favor}. {Once you understand} how {very cheap stocks} work, {you’ll be able to} profit {because they} go up {so when} {each goes} down.
Moreover, I see {very cheap stocks} as what {they’re}. I don’t expect miracles, but I {search for} patterns {that may} deliver profits…just {just like the} first green day, dip buy and earnings winner pattern that combined on my HEAR trade {to create} it so solid…despite my {going for a} {small percentage} of {the entire} move ({I} play things too safely and exit {prematurely})
3. Small wins {accumulate}. {It could} not be flashy, but {among} my {tips for} success {is really a} slow but steady approach. You won’t see me holding stocks that {rise} 500% or 1,000%. I’m fine taking 10%, 20%, 30%, {as well as} 50% gains on my investments. My average profit per stock trade is on {the low} side. However, by repeating my successes {again and again}, the gains {accumulate} {as time passes}. So {as the} $2000 I make on a trade {is probably not|may not be} much, when {I really do} it {one thousand} times {again and again}, it {results in} millions!
4. You can’t win {at all times|constantly|on a regular basis|continuously}. Nobody wins {at all times|constantly|on a regular basis|continuously} in the {currency markets}. Actually, I’m wrong roughly 30% {of that time period}. However, {I’ve} good trading plans and solid research, {therefore i} typically know when {to obtain} out, and I keep my losses small.
{You won’t ever} {desire to} lose, but it’s {vital that you} acknowledge that it {complements} trading. It’s {section of the|area of the|portion of the} package. So {rather than} {concentrating on} always winning, {concentrate on} always learning {from your own} mistakes and minimizing your losses.
5. I don’t trade {each day}. {An excellent} play isn’t necessary {each day}. If there isn’t movement {on the market}, don’t {make an effort to} force {a thing that} isn’t there. Instead, {concentrate on} studying and improving yourself {to be able to|to enable you to} {anticipate to} {create a} trade {once you} {visit a} positive pattern appear. I don’t just trade {with regard to} trading: {I wish to|I would like to} profit when I trade, {therefore i} am {ready to} wait for {the proper} time.
6. Study, research, patterns, repeat. {Currency markets} patterns repeat {again and again} and over. Basically, {which means that} by studying {days gone by}, {you could be|you may be|you will be} prepared for {next time} {the very best} patterns appear. When you’re prepared, {it is possible to} position {you to ultimately} {benefit from} these recurring patterns.
However, {the opportunity to} {reap the benefits of} patterns {takes a} {large amount of} studying, observing {the marketplace}, and probably some {learning from your errors}. Are you {around} {the task}? I teach members of the Tim Sykes Million Challenge team {a few of} my {ways of} detecting patterns {hoping} that {it can help} them refine {their very own} methods. No two stock patterns are exactly alike, but by studying {days gone by} and witnessing them {in today’s}, you {figure out how to} react {and discover} {the very best} profit angle.
7. I {become} a retired trader. That’s right: I approach every trade {as though} {I’m} a retired trader. A trade really {needs to be} incredible to lure me {using this} “retirement”. {It is a} shift in mindset {which allows} me {to check out} every trade in {a significant} way. {It creates} me value my trading and {make smarter} decisions. If I’m in “retired” mode, {Personally i think} less pressure to force trades; I let them {arrived at} me.
8. Do {best for} {the planet}. {Recently}, {I’ve} become increasingly {focused on} donating to charity. The difference my money has {designed for} others inspires me {to keep} earning {therefore i} can continue giving back. {That is} {among the} true {tips for} my success: {I’ve found} something to be passionate {about this} keeps me motivated {to help keep} earning.
I began giving to charity in earnest {a couple of years} ago, and I wish that someone had {explained} about {the advantages of} giving back early {in my own} trading journey. {SINCE I HAVE} created the Timothy Sykes Foundation, 35 schools {have already been} built or {come in} development, in over {twelve} countries {all over the world}.** Education is my passion, and every child deserves it! {This is a} great feeling to {start to see the} difference {I’m} able to {lead to} the world {in this manner}.
9. I {study from} my students. I don’t {restrain}: I share {all the} knowledge I’ve amassed with my students. But it’s {not really a} {a proven way} street. My top millionaire trading challenge students {may also be} teachers {if you ask me}.** {They’re} constantly challenging me {in various} ways and making me look at trading differently. {By doing so}, it’s a reciprocal relationship: {both of us} {reap the benefits of} learning from {one another} and that’s {the wonder} {of the} little niche community I’ve built {during the last} {a decade}.
There you {own it}: the so-called {tips for} my success. Truthfully, {do not require} are incredibly secretive or groundbreaking, but together, {they will have} helped me create {the life span} of my dreams. Now, {I wish to|I would like to} {support you in finding} the life {of one’s} dreams!
Leave a comment below {in the event that you} now better {realize why} {the chances} of success {come in} my favor on EVERY TRADE and that {accumulates} nicely {as time passes}!