A few weeks ago, I wrote an article on “117 Rules That Made Me 117% In 117 Days” to celebrate the fact that the latest brokerage account I open has grown by 117% since I opened it on February 2nd, 2015.
I’m really proud of that little see all my brokers here. I started small – with just $30,000 – and now, it’s sitting at more than $115,000. What I love about the account is that it proves anyone – anywhere – can make money, even if you’re starting with a small amount of money.account,
You don’t have to be a mega-rich Wall Street guy to profit, and you don’t have to work at a big name trading firm to get started.
Imagine if you took your own money and tripled or quadrupled it in just a few months time. What do you think you could achieve if you traded for a year? Or even for a few years?
(Just to put things in perspective, my top student, Tim Grittani, is living proof of how powerful consistency can be. After four years, he’s managed to turn a few thousand dollars into $2.8 million – and you can too.)
What I want you to know is that you don’t have to be wealthy to get started with penny stock trading, and you don’t need to have any kind of special skills to get rich.
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I really believe that penny stocking is the most accessible option most people have for achieving big returns and accumulating wealth, which is why most of the lessons in that article focused on trading mechanics:
- You can always exit a trade whenever you want, and usually get back in, so when in doubt don’t be afraid to get out.
- Some trades work PERFECTLY very quickly so accept that and don’t be afraid to take profits if your goal has been reached.
- You don’t need to take a full position or exit the position entirely, when in doubt, take partial positions and add or lessen the position based on how it’s playing out vs your initial goals.
- Most traders lose, but it’s due to a lack of preparation…don’t make that mistake, act differently if you want to have different results and be one of the few who succeeds.
But that’s not what I want to talk to you about today. If you want to learn more about how I trade, I’ve got tons of resources available (like my free full-length book, my free video training course and my email newsletters) and I’ve got spots available in my trading challenge program.
Instead, what I want to draw your attention to is the third lesson I shared in the article:
“3. Money does not buy happiness, but it does make life a lot more fun and interesting and there’s no better feeling than being able to help out your loved ones and explore this incredible world.”
That might sound like a pretty crazy thing for a stock trading teacher to say. After all, you’re here to learn about making money, right? You want to get rich so you can take that round-the-world vacation or buy that dream car you’ve always wanted.
I’m not going to lie. The perks of being a millionaire are pretty great. Rich people brag all the time about “mo’ money, mo’ problems,” but the cold, hard truth is that they wouldn’t trade their new set of problems for the ones they had before they got rich.
So I’m not going to sit here and tell you that you shouldn’t want to get rich. What I want to show you, however, is that there’s more to being rich than expensive goodies.
In case you haven’t been following along on this site, I’ve committed to making my focus throughout 2015 giving back through my new Timothy Sykes Foundation. So far, I’ve raised $650,000+ from the sales of my How to Make Millions DVD study guide, and I’ve committed to giving away $2 million total through the foundation, as I detailed here.
I recently had the chance to make my first big donation – $50,000 to Make-a-Wish of Southern Florida. The organization hooked me up with a great young kid named Ewan whose medical conditions made it impossible for him to communicate with his family.
$20,000 later and Ewan was outfitted with a device that tracks his eye movement that lets him connect – for the first time ever – with the people in his life.
I was in tears when Ewan’s face lit up with smiles when the device was first turned on, and it’s taken me a while to process my feelings into something concrete that I wanted to share with you. I’m not a writer – I’m a stock trading teacher – so go easy on me if this isn’t as eloquently written as it could be.
When I was in the room with Ewan’s family, watching their own faces as they were able to communicate for the first time with the son they’ve loved for years, stock trading was the last thing on my mind.
I wasn’t worried about my watchlist, and I wasn’t thinking about SEC filings.
Instead, I was watching Ewan’s mom as she let tears crack through the face of unrelenting positivity she’s worn for years as she’s endured more than any parent should have to bear.
And I was watching Ewan’s dad and brother – the very picture of strength as they loved Ewan, despite his inability to carry out the simple task of communication that so many of us take for granted.
Money matters. It was money that purchased Ewan’s device, just as it’s money that allows my students to do everything from quit jobs they hate to pay off medical bills to care for their parents in retirement.
But it’s what you do with that money that’s most important.
I’m not going to lie – it’s taken me far longer to come to that realization than it should have. I’ve been blessed with loving parents and a solid upbringing that gave me access to great education and other opportunities many people would kill for.
But advantages aside, I’ve definitely been guilty of getting caught up in profiting for profit’s sake. I’ve taken big losses too harshly – as if my portfolio was a reflection of my worth – and I’ve failed to appreciate the small wins that have turned me into the trader I am today.
I’m not proud of any of this, but I am grateful for my recent birthday for helping me to turn over a new life. I hate to be the stereotype of the young hot-shot trader going soft, but for the first time in my life, my priorities truly have shifted.
I’m not going to quit traveling the world – and I’m not going to stop enjoying some of the millionaire lifestyle perks that come along with my success – but I am going to focus the rest of this year (and likely all of my years going forward) on doing things that truly matter with my money.
That’s what it all comes down to. I’m asking myself constantly, am I leaving the world in a better place than I found it? What kind of legacy do I want to create for myself, and how can I put that vision into action today?
And that’s what I want you to be asking yourself as well.
Sure, go ahead and dream big. Picture yourself calling your personal butler in the first-class cabin on a luxury Mediterranean cruise, or striding into your boss’s office and finally telling him to shove it up his ass.
You’re going to need that kind of motivation when you have bad trading days that make you want to shut down your brokerage account and never look up another stock symbol in your life.
But I also want you to start thinking now about the kind of legacy you want to build for yourself.
Will you give back to the hospital or hospice program that took such good care of your grandparents at the end of their lives?
Will you build and fund an animal sanctuary that prevents the forced euthanasia of homeless shelter pets in your community?
Or will you set up a scholarship with your local school system so that promising, but underprivileged kids can make their dreams of attending college a reality?
I don’t know what causes are nearest and dearest to your heart. Maybe, like me, you want to find a way to give back to suffering children through charitable giving to the Make-a-Wish organization.
But whatever your dream is, I want you to start visualizing it now. Imagine yourself making a sizable donation and think about how it’ll feel to support a cause you truly care about.
You don’t have to wait until you’re old and grey to give back like this. With the wealth you build from penny stock trading, you can put your legacy into action while you’re still young enough to enjoy it.
That is, if you don’t get caught up in the trappings of riches. I very nearly did, and I’m grateful every day for the realization that my financial resources are much better off being used to do good in the world.
Money may not buy happiness, but you can use it as a tool to bring happiness to others. The only question now is: how will you use your penny stock trading profits to change the world?