{WHEN I} warned in this tweet:
My #1 New Year Resolution {would be to} create more millionaire students so {prepare yourself} as I’ll be trying some weird ass stuff {to create} it happen!
– Timothy Sykes (@timothysykes) January 3, 2016
2016 my New Year’s resolution {would be to} create more millionaire students {such as this} guy {which} guy (who now both give webinars to other trading challenge students, {the energy} of community/paying-it-forward) {and some} other millionaire students who prefer their privacy so my checking myself into prison {at this time} is my biggest, boldest and weirdest tactic {in my own} {quest for} more millionaire students.
I explained {just a little} {in my own} latest {bout of} Answerstock posted {today}:
But {let me} explain some more…
…I don’t mean I’ve actually checked myself {right into a} real jail, {After all} I checked myself {right into a} figurative prison as despite my solid now eight-figure net worth, in 2016 I’m re-starting my trading accounts with just $12,000, wayyyyyyy {beneath the} dreaded pattern-daytrader rule {the least} $25,000, thus preventing me from {being truly a} free trader that {way too many} rich people {neglect} as those {beneath the} PDT rule are {limited by} only 3 day trades per week…aka prison.
After making nearly $1 million in trading profits in 2014, see all trades here, my best trading year ever, {a lot more} than my best years {through the} tech bubble (so much for my critics saying I can’t or don’t trade anymore, see {that one} crazy week where I made nearly $200,000 in trading profits), and earning several hundred percent on various accounts in 2015 {even while} {the entire} US {currency markets} indices were basically breakeven on {the entire year}:
…many {folks have} been asking why am I {achieving this} now when {I will} be taking bigger positions {than ever before} given how well my trading strategies {will work}?
I explain more in this video:
Long story short, while {I really like} making {big style} trading profits and posting ALL MY TRADES publicly HERE, especially the big ones like these trades below to inspire upcoming traders:
…but {when i} explained here, teaching {is a lot} more fulfilling, it’s my main business now and {due to} that I’m {A lot more} {thinking about} creating more millionaire trading challenge students from scratch – hence why we’re adding several new features to the the trading challenge curriculum in 2106 {when i} mentioned here – {even though} trading {beneath the} PDT rule is endlessly frustrating {for me personally}, and {everybody else}, as a trader, being restricted {because of it} the SINGLE {MOST SENSIBLE THING} {I COULD} DO FOR MY STUDENTS {TO GREATLY HELP} THEM {LEARN TO|FIGURE OUT HOW TO|DISCOVER WAYS TO} GROW THEIR ACCOUNTS EXPONENTIALLY AND OVERCOME IT LIKE MY TOP STUDENTS AND {I’VE}.
Monkey see, monkey do.
{EASILY} make $20,000, $50,000 {as well as} $70,000 on {anybody} trade {having an} account size of $100,000 or $500,000 {as well as} $1,000,000, that’s great to inspire newbie traders {to help keep} studying and learning, but it’s also pretty irrelevant for them {at this time} given their small account sizes {& most} of my students only {focus on} $2,000-$10,000…so it’s {much better|greater} I trade with a similar-sized account {because they} do so {they are able to} see {what type of|what sort of} trades/position sizes {could work}:
Remember, {almost all} {the planet} thinks it’s impossible to consistently make {a lot more than} 10-20%/year returns so everyone eats up boring, conservative, diversified mutual funds and long-term investments, at their most speculative being in giant companies like Apple (AAPL) and Google (GOOG)…viewing inspirational stories {such as this} turning $1,500 into $1 million and {which} international trader {which} teenager with skepticism…
…many mistakenly {think that} {this kind of} success {isn’t} possible. You wouldn’t believe {just how many} times I’ve heard short selling stocks under $5/share isn’t possible) – {or simply} have gotten lucky…despite my showing live trades like these on patterns outlined {in my own} DVDs/video lessons that haven’t changed much {in the last} 2 decades and us showing ALL our trades publicly HERE and HERE and HERE and HERE
Remember, this isn’t {the very first time|the 1st time} I’ve returned to my $12,415 Bar Mitzvah gift money roots, {in my own} first 4 years of trading I turned it into $1.65 million, but as you might’ve read here, {lots of|plenty of} that was {because of the} tech bubble and being in {the proper} place at {the proper} time…when I first began teaching in late 2007, I {returned} to initial $12,415 roots and turned it into nearly $100,000 in {24 months}, see {this website} post with a blueprint for growing {a merchant account} 8x in 2 years…and in year 3 {I acquired} {around} $230,000+, that feat making me the #1 ranked trader out of 60,000+ on Covestor {at that time} (here’s why I’m not on Covestor anymore.)
{But} after my 2nd time growing {a little} account into six or seven figures {inside a} few years, {I acquired} {sick and tired of} small gains and {made a decision to} {make the most of|benefit from} {all of the} opportunities this latest now 7-year-old bull market created and I began trading {every year} with various larger amounts like $300,000 or $600,000 with my nearly $1 million trading profit year in 2014 {from the} $500,000 starting amount…my nearly 200% overall gains in 2015 happening {when i} started {the entire year} with $100,000 (actually I began on February 1st, 2015 {since i have} wasn’t fully {ready to} withdraw $1+ million from my accounts so quickly)
In hindsight, I probably shoulda woulda coulda just stuck with growing my $12k into $1.65 million again, but trading, the {currency markets} and myself {primarily} {aren’t} perfect…I {focus on} different amounts {every year} with {another} focus.
…this year my ego/patience {will need} hits trading with {this type of} small dollar amount, but my students will benefit greatly from seeing my trades in realtime, {alongside} video lessons on every meaningful trade and that’s {what counts}.
{Some individuals} are asking {how come} it matter what I {start out with} {every year}, it’s {yet} strategy, right?
Yes, {however the} PDT rule prevents me from taking so many intraday positions {when i} {now have} done – {that is} probably {a very important thing} given my {insufficient} patience/skepticism {of the} bull market lately – {and in addition} different brokers have different minimums {and various} abilities to borrow stocks to short, especially on pump and dumps, {that is} my specialty. ..remember this video I made “No Borrow, No Cry” as while short selling penny stock pump and dumps IS legal, most brokers don’t have borrows available, which I’ve taught {because the} beginning of time
That’s why I’m starting {the entire year} with $2,000 {in my own} E*Trade account (the minimum required {to be able to} short sell) and $10,000 {in my own} Interactive Brokers account (the minimum {necessary to} have {a merchant account} {using them}) as E*Trade {is most beneficial} for shorting stocks $2-10/share and Interactive Brokers {is way better} for shorting stocks under $2/share.
{You can find} mannnnnnnnnnnny more brokers {on the market}, {but also for} now {they are} {the very best} 2 for short selling and trading {very cheap stocks}, {Almost every other} broker has {i want to} down {for just one} reason or another so they’re {not} worth mentioning…although {I’ll} make an exception for Robinhood as I’ve heard SO many complaints about execution problems, inability to short sell AT ALL, and their {insufficient} after-hours trading.
Robin hood has made {a large} splash {making use of their} zero brokerage commissions, but {I’ve} NEVER worried, nor {am i going to} ever worry, about fees and commissions, they’re all negligible {in the event that you} focus on {the very best} trading setups like THESE and THESE {where one can} make 20-30-40-50%.
Robinhood lures in the financially naive {that are} {longing for} small returns. However, {this kind of} thinking won’t grow your account exponentially.
So, get excited for 2016, {lots of people} are {requesting} my predictions….sorry, but I gotta go get fitted for my prison outfit (my analogy {to describe} that I’m {not just a} talking head with bullshit {currency markets} predictions, I {go on it} one trade {at the same time} when my patterns/predictable setups appear).
Tomorrow I’ll begin {attempting to} grow my $12,000 accounts one trade {at the same time} as always, with my students getting alerted in realtime very time I {create a} new trade, learning more {each day}.
I don’t make {currency markets} predictions and I don’t have ANY specific goals {on which} {I believe} I’m {with the capacity of}, but let’s have {a great} guessing game, leave a comment below {together with your} guess {in regards to what} my year-end 2016 accounts {will undoubtedly be}, {the individual} closest to {the specific} dollar amount on December 31, 2016 will win a prize, and I promise I won’t add or subtract any $ from the accounts {during the period of} {the entire year}
{To assist you} in your guess, {here’s} one last screenshot of what {I did so} with my $30,000 E*Trade account began just 11 months ago, a 500%+ return, but {bear in mind|remember} I wasn’t {tied to} the PDT rule so let’s see what your guess is and let’s {get this to} {an excellent} 2016!