Basics Archives - Timothy Sykes

Category Archives: Basics

How To Become My Next Big Student Success Story

student success story

 

Before we get into how to become my next big student success story. Yesterday I reviewed different dip buying patterns HERE, so please be sure to watch that video lesson and realize that not all dip buys are created alike…this game isn’t as simple or as easy as anyone wants it to be and if you ignore the different catalysts and intricacies it’ll cost you a lot of money and I don’t want that to happen. Continue reading

How To Make Money With Penny Stocks Right Now

penny stocks

Normally summer is a slower trading time, but these past 2 years have been outliers and now the past few weeks have been crazy with SO many hot penny stocks it’s tough to keep up…please use this weekend to review all the best patterns working right now.

First, watch this new video I just made summarizing today’s biggest winners with XXII and GPRO being PERFECT multi-month breakouts and LBUY having a solid morning panic I predicted in this video lesson ahead of time:

Congratulations to 2 of my top trading challenge students, Roland and Mark who each made $1,000-$2,500 today and both are now well on their way to becoming my next millionaire trading challenge students. Continue reading

10 Quotes To Inspire You To Become A Better Trader

Quotes About Trading

Given the mentally trying nature of trading, you really can use all the support and motivation you can get. These ten quotes about trading offer inspiration and insight that can help you stay with it during the hard times and inspire you to become a better trader.

Trading is not for the faint of heart and we must always remember that 90% of traders lose so preparation is key. Even with a lot of hard work and preparation, it can be a challenging profession at times, fraught with risk and potential loss. However, the benefits and financial rewards can make it all worthwhile for those who are up to the challenge.
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8 Ways To Spot More Trading Opportunities

URGENT: 2 days left on this special

Having the patience to wait for truly great setups like these is a skill you can learn, but have you ever noticed that some traders seem to spot trading opportunities with no problem, while others struggle to get ahead?

Download the key points of this post as PDF.

No, it’s not just a matter of good (or bad) luck. There’s a direct correlation between a trader’s attitude and conduct and the volume and quality of opportunities that they capitalize on. These are 8 easy ways to spot the best trading opportunities. Continue reading

8 Things I Wish I Knew When I Was Starting Out

I’ve learned a lot in my now 2 decades as a trader and sadly, I had no mentor or help at first, so I have to learn everything all on my own. ALL of my knowledge has been hard-earned and yes, many of the things I did in my early trading days make me want to cringe now so I only wish there had been something like my Millionaire trading challenge back when I first got started.

Download the key points of this post as PDF.

And yet I recognize that the ups and downs I’ve experienced have played a huge part in shaping my career as it stands today so it is what it is and all I can try to do is to be the mentor to you that I never had. Continue reading

This Is A First

This blog post is a first in response to many messages I’m getting from procrastinators who have waited until the last few weeks or even days in years past, despite selling out each of the past few years, we’ve tried to accommodate latecomers — but not this year and I’m sorry, but I gave you guys literally DOZENS of warnings that we would sell out faster this year than in years past and now in less than a week that has come true.  The speed at which this has happened has been surprising to my entire team and I, but we’re very proud of our now 10 years spent educating people and we’re glad to see the lessons sticking.  As evidenced by my newest six-figure student here who has made $147,000+ now in just over 6 months, the fastest rate of any of my students despite beginning with just $4,000 less than a year ago! (and yes, I filmed an awesome 30-minute interview with him, but give us time to get it posted, we filmed it in 4k next-generation video resolution so it’s a truly massive file and the wifi isn’t great out here in Europe).

Download the key points of this post as PDF.

So, what’s changed from years past that made this conference such a hot ticket? We didn’t change the price — we still won’t make any money on this event, it’s a true pain in the ass to organize and put on, but we do it year in year out because it makes better students…and that’s been the #1 priority of my entire business since day #1 and it’ll continue to be that way as long as I’m in charge!

Less than a week ago we released tickets to my upcoming conference September 16-18, 2017 in Orlando and now we are 100% sold out which has NEVER happened this far out before the actual conference.

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17 Key Financial Terms For Millennials

I’ve written several posts about stock trading terms that you all should know, like the 17 terms in this post. There are other financial terms that you guys should be familiar with as well, especially if you are a millennial. Some of these specifically involve trading, while others don’t.

Download the key points of this post as PDF.

URGENT: We have less than 20 seats left for my upcoming conference here, then we are SOLD OUT, no second chances so if you want to come, reserve your ticket ASAP and save 70%+ off HERE

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5 Ways To Grow Your Account Exponentially

A question I get asked often is  “how do I grow my account exponentially?” Considering that earning 10-20% per year is considered “great” on Wall Street, when I start talking about 100-200% yearly returns instead, people get VERY interested and EVERYONE I talk to wants to be my next Millionaire trading challenge student…and why wouldn’t they after seeing my top students performance charts like the ones below:

Download the key points of this post as PDF.

I’m SO excited to FINALLY reveal this, whewwwwwww have we got some amazing stuff planned for you at my upcoming conference in just a few months! Go HERE ASAP to get on the earlybird list and save $1,000+ off the regular ticket price.
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7 Crucial Tips For New Traders

I am a self-taught trader and that SUCKED! Doing it all by myself, I was forced to learn a lot the hard way and through trial and error along the way and this is, in part, what inspired me to create the Tim Sykes Millionaire Challenge to be the mentor to people that I never had. I wish I knew the crucial steps to success, like I’ll provide for you below.

Download the key points of this post as PDF.

You have just a few days left HERE to save $1,000 off my upcoming annual conference…go HERE ASAP as this will sellout at full price, not mention earlybird prices where you will save $1,000!

I didn’t have a mentor or a program like mine.  But, in retrospect, I wish I had. I probably would have made money far quicker and not made so many bone-headed mistakes if I had.

But lamenting the past won’t change anything. Instead of complaining, I want to help you so that you don’t have to make the same mistakes I did! In addition to offering my trading challenge, here are seven pieces of advice that I’d like to offer new traders who are where I used to be.

1. Seek out an education. The idea of just jumping in and starting to trade penny stocks might be tempting. You’ll figure it out as you go, right? Not so fast.

I’m all for going for it, but take a step back before you do anything hasty. Remember, this is your money, and you don’t want to lose it. Before you trade, it’s smart to learn a bit about the process and theory behind trading so that you don’t lose your money in ways that could easily be avoided.

The Challenge was created for this exact reason. It is designed to educate the Tim Sykes Millionaire Challenge team on trading in an applicable, real-life way. We progress into real advice and methods that you can put to work. I don’t want you to wait years and years to make your first trade, but I do want you to have an idea of what you’re doing before you dive in.

2. Have a willingness to learn. It’s best that you learn this early on in your career: as a trader, the need to keep learning will never end. Seeking out an education, as discussed in the previous point, is partially so that you can make educated trades. But it’s only the tip of the iceberg.

But if you really want to be a longtime, successful trader, you’ll need to have a will and a desire to learn. This is something that you basically want to turn on and never turn off. Keep reading, learning about the philosophies and methods behind successful traders, and stay interested in the world, both in terms of business and at large.

3. Know what you’re working toward. If you’re not working toward something as a trader, then your career will have little direction. So what are you working toward with your trading? What are your goals?

When you’re new as a trader, you should have strong clarity on what it is that drew you to trading. Money, obviously. But, money for what? A better quality of life? Really dig deep and figure out exactly what it is that you want to buy with all that money you’ll make. Tattoo that desire in your brain and think of it with every trade you make. It will help you stay motivated, which makes you a better trader. Having goals to stay committed to will keep you going when things get tough.

4. Recognize your strengths and weaknesses. It’s important to be able to identify your strengths and weaknesses early on as a trader. Basically, the sooner you identify them, the sooner you can streamline your trading. By recognizing your strengths, you can play to them, and adjust your study and trading schedule to suit what works best for you…every trade and student is different as we all have different personalities so it’s important to recognize this and adapt to whatever works best FOR YOU!

By recognizing your weaknesses, you can either work around them, or make a decision to become stronger in those areas. This might involve studying harder in certain areas, or taking the steps to remove bad habits from your daily repertoire and replace them with good habits.

5. Let yourself improve over time. Patience is a virtue when it comes to trading. Don’t expect miracles (or millions) in your first week. It doesn’t have to take an incredible amount of time to start earning money, but don’t rush it. Let yourself discover what works and what doesn’t, and get your footing as a trader…read this blog post if you want to learn more about patience and perseverance.

Slow but steady wins the race when it comes to developing skills as a trader. Don’t try to jump ahead, because there’s so much that you can learn along the way that can help you later. Giving yourself the room to learn and improve over time will take a way a huge stressor from your trading career, and it will also make the journey more enjoyable.

6. Network, network, network. Creating a network is important for any entrepreneur, and traders are no different. Come to this meetup in a few months and meet all my top trading challenge students and I and trade live with us too! Making friends with other new traders can create a positive support network and help you stay inspired. Making friends with traders who are further along in their career than you can give you insight and allow you to emulate their success (without copying).

A mentor, too, should be part of your network; this is a trader who is further along in their career than you who takes it one level further and acts as your adviser. Meeting with a mentor on occasion can inform your career, give you ideas, and help you know what career pitfalls to avoid.

Moreover, creating a strong network is a great thing for new traders, as you never know what opportunities your connections might afford you in the future.

7. Learn to love trading. If you walk away with nothing else from this article, take this advice to heart. If you learn to love trading, then you’ll be doing yourself a great service as a trader…the process and the journey is actually even more enjoyable than the rewards…the rewards are nice, don’t get me wrong, but learning to be self-sufficient is priceless as even if I lost all my money tomorrow, I know EXACTLY what I must to do get it back so I’ll NEVER be down for very long, no matter what happens.

And remember, too many people suck at their jobs and don’t excel because they don’t truly enjoy it…doing things that you hate is no fun. It makes the time crawl by, and it does nothing to improve your quality of life so don’t make that your future.

However, doing things you love makes time fly by (in a good way) and makes you feel vital and excited about your day, and about life in general.

If trading can become one of those things that you love, then your career will seem effortless and success will come to you far more quickly and more naturally.

These seven pieces of advice are vital for new traders. I wish that I’d had them when I was a new trader! So go forth and don’t make the same mistakes I did.

Please leave a comment below with which of these points make the most sense to you, #1-7, you tell me! 

The 7 Best Stocks Now And My Thoughts On This Amazing Week

I’m SO excited to FINALLY reveal this, whewwwwwww have we got some amazing stuff planned for you at my upcoming conference in just a few months! Go HERE ASAP to get on the earlybird list and save $1,000+ off the regular ticket price.

UPDATE: This original blog post was written Tuesday, featuring just 3 hot stocks.  But, it’s Wednesday and several more hot penny stocks have emerged, so this madness just keeps going and my top students and I are profiting nicely, since we adapt to what the market is telling us:

Download the key points of this post as PDF.

Congratulations especially to this new six-figure trading challenge student I featured here last week

As I write this from my flight on my way to my next charity trip, while also planning this upcoming conference of mine that’s now less than 3 months away (ahhhh!) and my upcoming Italy/Greece trip this summer, where I look forward to returning to perhaps my favorite “office with a view” in the world in Oia, Santorini: Continue reading