Multi-Millionaire Penny Stock Trader and Wealth coach Timothy Sykes dropped by Harvard University last week to share his story of failures and achievements with an ambitious crowd of young students. He is a walking, talking example that your dreams can come true if you persevere, if you work hard, and if you realize that what you might think is impossible is actually possible in today’s world, because of the internet.
Timothy Sykes is totally transparent with how he conducts business and hides nothing from the crowd when he shares his story of mistakes that he made along the way during his journey to success.
Tim is even confident enough that he throws his Porsche and Lamborghini car keys to the crowd.
What a mad dog!
Here are some of Timothy Sykes Penny Stock Trading Rules:
1. Cut losses quickly — always rule #1, always the most difficult to abide by due to ego…when I’m wrong on a stock I HAVE to get out when it doesn’t go my way.
2. Get out of trades when they don’t go my way — one step up from cutting losses quickly, many people are surprised to see me take 5-10-15 cents/share in profits if the stock doesn’t do EXACTLY what I expect it will within minutes, hours or days of my trade, depending on the expectations I lay out in the trade alert, based on patterns like these.
3. Understand the small losses and small gains don’t get me rich, but they protect me from big losses and if I focus on taking good trades, those that do EXACTLY what I expect DO make me rich…so the key is giving myself opportunities to hit home runs, but taking singles, doubles and even strikeouts every now and then to protect my downside risk.
For the rest of Tim’s 64 trading tips make sure you head over to 64 Penny Stock Trading Rules To Honor My $164,000 Profit Week.
Image Credit: David Paul Morris/Bloomberg via Getty Images
