Remember THESE 2 immigrant brother TIMalert subscribers up $400,000+ in 2009?
Well, I finally got one of them to detail his strategy and lessons in a nice little 5 question interview:
TIM: I teach several different ways to approach penny stock trading, which has worked best for you? Buying pumps, short selling dumps, scalping?
- As of right now I am buyer only. Buying pump&dumps on a way up and get out before it’s over. I don’t buy just pump&dumps though. Sometimes I trade AMEX or NYSE also but all those trades are really just quick trades (more like momentum trading), I get in and get out within couple of minutes, sometimes seconds. I look forward for short selling but at this point I just don’t really feel confident to do so. I need to study more and keep trying. I used to trade absolutely everything (penny stocks, real companies, etfs etc.). Investing in penny stocks just to be in when it takes off just like Yahoo! Inc. (YHOO), Google Inc. (GOOG) or any other big company. Pretty much unreal strategy. Your DVD packages have opened my eyes to the truth of how these markets really work. What to watch for, where to look and how to make profit of them…
TIM: What obstacles did you have to overcome before you started making some pretty decent money?
- Only obstacle I can think of was pretty much my self. Discipline was very important thing I was missing. I never got out when it was the time. When I was up I wanted more. When I was down I believed the trade is going to turn and I will make my money back (sometimes I kept buying into selloffs to make more money – didn’t really work out for me). Now I trade instead of investing and take profits once I have them.
TIM: Please explain your biggest success, % or $-wise, in detail, I love hearing about big wins!
- My biggest success is buying SpongeTech Delivery Systems Inc. (SPNG) @ $0.015 in October 2008 and selling for $0.20 in June 2009 with total profit of $130,000. That time it was still when I had no idea about your DVD packages but I was subscribed for your free e-mail alerts and you sent out warning about SPNG and their SEC filings so I did some search on my own and how surprised was I when I found all those share that were handed out for nothing and that continuous dilution (from 35000 shares to 2 billion, wow). And thanks to that warning you had sent to everybody, once the price took off I did not wait for anything and sold at very, very decent price.
TIM: Please explain your biggest failure, % or $-wise, in detail, I love hearing about big losses! (best for learning)
- Biggest failure would be about $5.000 in one trading day. I remember it was some pharmaceutical company with news about their pill’s FDA approval. It was some time in August and I remember I bought again more on a dip but the whole trade turn against me because I kept waiting and waiting for turn around, ignoring all the signs to get out to limit my losses and move on. I have learned.
TIM: What tips do you have for others who want to trade penny stocks?
- Keep watching your DVD packages over and over again. Every time I do I find something I missed before. DISCIPLINE, DISCIPLINE, DISCIPLINE! Get out when you have profit (I like this one: No one ever went broke by taking the profits!), get out when the trade turns against you. Just like pro poker players know: the key and to a good poker game (trade) is to know when to fold your cards (get out of the trade). Be ready to trade (do your homework)
Sincerely
Martini
Tags: Success Stories, Testimonials
