My Larry King Interview Yesterday - Timothy Sykes

My Larry King Interview Yesterday

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Nearly 55,000 people now are subscribed to my free Youtube channel HERE and yesterday I posted this video talking about my interview with the legend himself, Larry King, one of the craziest honors of my life aside from this:

(Here’s a great photo of Larry & I)

We’ll get the actual Larry King interview video posted shortly, but here’s my response to doubters/haters who were quick to to be negative as always…but then again, you don’t see them getting interviewed by legends of speaking at colleges now do you?

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Below is also a transcription of my video for my valued deaf students:

All right. So today was a crazy day for me, not trading wise. It was actually pretty slow, but I got interviewed by Larry King. I’ve been listening to this man since, I don’t even know, since I was a kid, and he’s one of the best interviewers, most legendary newscasters of all time. It was such an honor. We will post this interview. It’s going to take a few days for them to get the video and everything but it’ll be posted, and you will hear it. He asked some very tough questions, but I think I did all right. So tremendous honor. I’m so just in awe that I was able to even meet the man, the legend, let alone get interviewed by him.

Secondly, a lot of you guys are asking questions about the Trader and Investor Summit. We have 10 millionaires, not just Penny Stocks, but Bitcoins, Swing trading, Options, Futures, Hedge Funds, and a Forex guide too. Everybody will be sharing their strategies openly for three days. The first two days are a Saturday and Sunday, October 3 and 4, I believe. Hold on. Let me check before I go on record here. Yeah, so October 3, 4 and 5. So the 3rd and the 4th we will be going over strategy and theory and the rules of what’s made each of us successful, and then the 5th will be live trading.

I can’t guarantee there will be any trades. There was one last year. There was one the year before. There was actually a few last year. One of my haters tried to squeeze me on the play because he saw that I was trading live in front of hundreds of people, and I stuck to my rules. I cut my losses quickly. I lost $1,000 which sucked, but that’s why I have the rules in place. Then it turned out that the price action was going specifically the way that I thought, so I got back in and made nearly $2,000. So I showed not just that I was right from the get go, but how to even cut losses.

I don’t know . . . I mean this is a few months away. I don’t know what kind of trade there will be, but I love trading live in front of everybody, and literally anything can happen. I risk real money. I think the year before I got . . . I was even undisciplined, and I made a stupid trade, and I was betting like $150,000 or $250,000, way too big. I was trading with a bigger account two years ago. This year I’m trading with a smaller account. But my Etrade account . . . I have to do a blog post when I get the time. My Etrade account which I opened on February 2, now July 22, so roughly five months, is now up to $103,000. So over a triple, and I’ll talk about exactly how I did that.

But you guys should definitely come if you can make it to Vegas. The networking is just gonna be incredible. Last year I think we had 500 people. This year we’ll probably have 600 or 700, maybe even 1,000. I’m overwhelmed by the amount of people that want to come. If you go to traderinvestorsummit.com right now, you get the early bird special. You basically save $800. So it’s $300 for three days, so $100 per day in Vegas. It doesn’t get any cheaper than that. We don’t make any money on it. This is purely to make you guys better traders.

Now I got to give some props to some students today. Spencer, this was fantastic. Greatest decision today was not trading, not chasing, waiting for good solid plays, and this is very underutilized. A lot of people think that you have to trade every single day. You do not. With penny stocks, with low price stocks, you have to wait for the good set ups because even if you’re trading, you might make $50, lose $50. It makes trading harder than it is. You think, “Oh, trading’s so tough and so choppy. I’m up one day. I’m down one day.” Yeah, if you trade random stocks with random patterns, you’re gonna get random results, and you’re gonna be frustrated. So don’t do that.

What I like to do . . . Well, Larry King interview isn’t every single day, but what I like to do when there are no really truly great plays, I take some time off, I travel, I read, I spend time with my fiance, my puppy, maybe meet up with some friends or family who hate me because I spend all my time teaching you guys. You get to live a little bit when there’s no trades. So a lot of you guys are complaining, “Oh, there’s no trades.” Welcome to the summer time. This gives you time to live, and more importantly for a lot of you who are just beginning to study these patterns, you have to really study so you can be prepared. What if there’s a great play tomorrow? I would guesstimate that 90% of my students are not prepared to even capitalize. They wouldn’t even know what a good trade or a good pattern looks like. So you have to fix that, and it comes down to watching video lessons, watching DVDs, and you challenge students, watching webinars. We go through it over and over again. I know it might seem overwhelming, but there aren’t that many patterns. You just have to learn the indicators and see how there are slight variations.

I do have to give props to Mad Mike. He is a marine, and a lot of you guys don’t respect the Marines enough or thank them enough, and all of our military service men and women. They put their lives on hold, and they sometimes even sacrifice their lives for our freedom. So I love it when . . . this marine made $2,000 on E-Y-E-G, EYEG is the ticker, and this is a classic supernova. This is very illiquid. I don’t like trading stocks that only trade 30,000, 40,000 shares a day but hey, it fits the pattern, and if it breaks out past this high of 17 or even gets close to it . . . Today it went all the way to 30. It finished down a little lower but you can buy this on the dip. This is a very speculative play but speculative plays can run.

Once you identify a stock that has already begun spiking, keep it on your watch list for several days, several weeks. We had this the other day with OHRP where it spiked one day, red the next, and then you had a follow-up break out. OHGI had this spike, and then downtrend, then a follow-up spike, then a follow-up spike, and now it’s fading. We can go back even further on OHGI. You had initial spike here, and this is what it got me interested. I was actually invested in here. I held, in my long term account, all these months, and I sold way too soon before it tripled or actually quadrupled. But this spike led me to watching it. So when you have a big stock that spikes, watch it because it can spike again, and it can get going in a hurry like we saw with VLTC.

That is today’s lesson. It’s a very simple lesson, but it’s a lesson that a lot of you guys don’t remember where you’re like, “How did you find this stuff?” Well, if a stock has spiked repeatedly, VLTC is literally the strongest stock in the stock market, if there has been recent strength, I’m watching it for any signs of follow-up because short sellers remember how far it can go so they’re not as tempted to short. Momentum buyers remember how far it could go so they’re more tempted to buy. So that creates these follow-up spikes even if they eventually fail. So always look for recent winners, and congrats to the marine who recognized that this was a winner. It consolidated for a few days, and then it became an even bigger winner. So awesome job Mad Mike.

Here is Fernando. Shorted CZR at $7.27, covered at $5.30 over $500 profit in 10 minutes. That’s fantastic. Short selling, very useful, very, very good. So those are pretty much the only plays today.

I was thinking about . . . oh, what is it? SLTD. I was thinking about buying SLTD because again, this is a former spiker, but it’s failed. I don’t like buying stocks that have this big down trend recently because you have a lot of bag holders, and they’re willing to sell into any spike.

This company did report earnings today so technically it’s an earnings winner, but the problem is that it’s a solar earnings winner. If you remember ASTI was a solar earnings winner. I think it was right around here, and what did it do? Nothing. Solar is very tough. There is another example that I’m blanking on that I bought and was a solar earnings winner, and it did nothing either. So I’ve learned through failure that solar earnings winner are not typical. On top of that, this was promoted by Small Cap IR which is a stock promotion service, pumpers. I don’t want to buy a solar play, I don’t want to buy this chart, and I don’t want to buy a stock with pumpers, so it had the trifecta of negative indicators that offsets the positive indicators.

So this might run. Here it ran for three days. Here it ran for two days. I was really considering buying it. Then I had to go to the Larry King interview, so it was kind of a moot point. It’s basically break even after-hours. What I would love is for a dip. I would love for it to come down to the mid-threes to lessen my risk, and then be a delayed morning spiker. I don’t know if it can do that. I’ll be watching it for a potential buy, but I don’t want to be long list stock overnight because of the three negative indicators that I just brought up, and also this market. A lot of these stocks are not having follow up spikes, so you have to react to the market, you have to react to the negative indicators, and that way you try and protect yourself. So I’m in the mindset where I’m looking for a trade, but I don’t have to trade. I’ll be there right at the market open tomorrow, and we’ll see if there’s anything worth trading.

But remember, you do not have to trade, especially during the slow summer, especially when stocks really just aren’t spiking that much. It happens all the time, every single year. You just have to have patience through it, and you have to not force trades because I’m getting a lot of emails from people going, “Ah, I should have listened to you. I just lost $100 or $200,” not much because thankfully people are cutting losses quickly. But you just don’t need to waste your time. You don’t need to waste your money. You don’t need to waste your energy when there’s nothing truly great. That is the secret that all the millionaire traders that I know and I have learned. Tim Bertani has been basically taking the entire summer off. LX21 takes the summer off.

There is some money, and I applaud you guys for wanting to try every single day, but just don’t force it. It’s counter-intuitive. I know you want to work harder for your money, but the harder you work, the more frustrated you’ll be and the more random results you’ll get when there are no great plays. When there’s tons of plays, fine, work as hard as you can, but when there’s not that many or something that’s not truly perfect, it’s like, “Then what are you doing?” You’re trying to force something that isn’t there.

So I’ll see you guys at the market open tomorrow. Thanks again for all the comments and the tweets. Larry King, I will let you know when that is posted. Thank you.

Posted in Celebrities, Press

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4 comments

Timothy Sykes

Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my millionaire challenge. Iā€™m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don't forget to check out my free Penny Stock Guide, it will teach you everything you need to know about trading. :)

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