Hello New traders,
Tim's 117 Rules For trading. READ CAREFULLY REPEATEDLY.
1. Aim for the stars, you’re capable of achieving ANYTHING, no matter what anyone says.
2. Always believe in yourself and NEVER give up on achieving your goals.
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.
4. You don’t need a finance degree to get into stock trading, just focus on learning key rules, follow these 5 steps.
5. I answer any and ALL questions, but because of my success and students’ success, I’m overwhelmed, my time is reserved for trading challenge students.
6. But I also have tons of DVDs and video lessons which you can and MUST watch on your own time that help you understand my proven strategies.
7. All my student millionaires so far are males, but many upcoming female traders are getting close.
8. Many ask why out of thousands of students I only have a handful of millionaires; there are several reasons 1) it takes time to study, learn and implement my strategy before you will see your account grow dramatically and 2) sadly, most people buy a membership to my http://timothysykes.com/plans newsletters and don’t put in time to actually study…like 80% of people who have gym memberships don’t even go, I can’t force you to study, I can only provide the rules/lessons that will change your life if you put in the time required to digesting them all and putting them into action.
9. There’s no way my rules/lessons/patterns will make you a worse trader or investor, knowledge is ALWAYS beneficial, the question is how much will you study and use them to TRULY benefit you and your finances
10. It’s boring to value invest and possibly become a millionaire after 4-50 years and yet that’s what most people do because they’re lazy and they want passive income. SCREW passive income, work hard for your $ and you’ll be surprised at how quickly it accumulates.
11. I didn’t expect to grow my Etrade account 117% in 117 days (it’s actually less than 100 trading days if you want to get technical), my account growth just goes to show you how it’s possible to grow a small account faster than all the “experts” believe.
12. People believe it helps when I have students following my trades, but I also have tons of haters who bet against me every time…NEVER follow my alerts or picks, EVERY trade I do (when I’m disciplined, which sadly isn’t every time) is a realtime reminder of the patterns I teach…true success comes from if I’m right for 20-50% gains, not 1-5% gains, those small gains, and my main small losses, don’t grow an account, that’s just when a trade doesn’t go my way EXACTLY…which, yes, happens sometimes.
13. It doesn’t matter if you start with $1,000, $2,000 or $50,000, your ultimate success will depend on you getting on the right profit path as outlined in my 35-hour http://howtomakemillions.com DVD and I know people who start with $100,000 who take their money for granted and someone with 1/50th the amount can surpass the rich guy within a few months
14. Start studying, open a brokerage account and get int he game ASAP…every day you wait means you’re missing out on learning and taking advantage of great trading opportunities that can happen any day.
15. I have a few millionaire trading challenge students, but this is early days still, most people think my strategy is a scam LOL
16. This is the American dream, but it’s open to ANYONE, ANYWHERE in the world.
17. People ask why would a multi-millionaire open up a brokerage account of a measly $30,000 and be proud of turning it into $65,000 in a little over 3 months? Because I trade small amounts to show you EXACTLY how to grow a small account, trade-by-trade…and I LOVE when students do better than me as has become commonplace lately as you can see here:
18. I’ve opened accounts starting with a few thousand bucks several times, each time I’ve grown it exponentially within a few years…I am NOWHERE near perfect and make tons of mistakes, but I have the right strategy and mindset and that puts my growth on the right trajectory…I want this for you!
19. My strategy is not capable of growing larger amounts like a $30 million account into $65 million in 3 months or even 3 years…this is a niche strategy for small accounts, gotta know your limits.
20. I didn’t always know my limits as you might’ve read in my best-selling book which you can download for free here
21. I’ve realized my strategy is best for people with accounts under $100,000 and more specifically accounts under $50,000 as no other strategy in the world can help you grow this kind of savings exponentially within a few years.
22. Now that I know I’m so proud to teach people how to grow a small account since most mainstream investment strategies SUCK since they’re focused on trying to make 10-15-20%/year which might be good for already-millionaires, but it’s shit for people who only have a few thousand dollars
23. Even if you only make 50-100% on your account with my strategy at first, it’s still far and away better than anything else
24. Dream big and work your ass off, but realize ultimate success won’t come about right away…even my top student Tim G. whose taken a few thousand dollars and turned it into $2.8 million now, see all his trades here, lost consistently at first.
25. It takes time to learn and truly understand my weird ass strategy, but I hold nothing back because I want you to have this kind of success too.
26. I’m from a small town in CT, not Fairfield/Greenwich snobbery bullshit, and I have no special skills in math, if I can do this, ANYONE can.
27. If you think I’m a scam or don’t believe my profits, see some statements, tax records and audits here if you still don’t believe me, then just don’t learn from me…my time is precious so I only have time for those who are sure and are willing to do what it takes to become my next millionaire student
28. Most people look at small accounts as a bad thing, you should realize it’s easier to double or even triple a small account than it is a big one, use your small size to your advantage
29. To grow a small account exponentially follow the rules outlined here http://tim.ly/timgrow take it one good trade at a time.
30. You can make money from anywhere in the world as long as you have internet access…online discount brokers have revolutionized the business
31. This is a unique time in history with the biggest multi-century bull market in history with political stability…anyone from anywhere, no matter your age, race or sex can utilize your knowledge to better your position in life 32. Dial-up internet and slow internet hurts your ability to profit, I’ve traded from some crazy/terrible places, but I prefer living life too in addition to just focusing on making money! 33. Lots of people on Wall Street earn six or seven figures/years, but they’re slaves to their job, I’ve made my money while traveling to over 100 countries…I LOVE my freedom, location-independence.
34. Work as hard as you can daily/nightly to learn how to capitalize from this great time in history/stock market
35. Even if you can only study 1-2 hours/night due to work/school during the day, you’ll have a leg up on most people who just want hot stock picks.
36. No one “hot stock pick” will make you rich, but learning a process built on patterns that repeat can…as my top students and I have proven.
37. Some students do better than me, I’m not only fine with that, I’m PROUD of it!
38. Too many students use leverage and brag about making $1/share on $50-$100/share stocks…I don’t give a shit about 1-2% gains, I look to make 20-50% on EVERY TRADE…that way even if I screw up, which I usually do in some way, I still make some $ or at least only have a small loss.
39. Utilize new technology to enjoy the best education from PROVEN teachers as listed on http://profit.ly/guru don’t learn from most teachers who can’t do or are unwilling to show you their trades/track record, learn from self-made millionaires and up and coming younger traders who consistently
40. This industry is full of scam artists who claim big #s, but don’t share EVERY trade they make…posting a few screenshots here and there does not mean they aren’t losing their asses on days when they’re silent, in fact it usually means they are getting wrecked on their bad days and purposely hide that, which is why this industry is so sketchy and sad.
41. There’s SO much more $ to be made from trading, and teaching for that matter, if you focus on longterm growth, not short-term hype and BS.
42. Focus on taking $100-$200 profits per trade to grow a $3-$5k account and turn it into a $6-10k account…then take $200-$400 profits as your account grows bigger and then $400-$800 and so on, on and on & on…within a few years you can have a solid six or seven figures like these students have done all on their own http://tim.ly/jewmark and http://tim.ly/tsharvard and http://tim.ly/tg2mil
43. You must study patterns I outline here http://tim.ly/sykes7 and here http://www.timothysykes.com/products/ BEFORE you can really start profiting consistently
44. Think of studying stock trading rules/patterns as medical school, you wouldn’t operate on a patient until learning everything about how to do the operation beforehand so why do you think you can trade stocks successfully before you learn the rules of the game? The difference being you can learn how to trade in a few months with very limited capital upfront vs a decade or more and six figure student loans to become a doctor and yet both professions pay similar six/seven figure incomes to those who complete their education.
45. Treat your trading account like a patient you’re operating on, you don’t want it to die.
46. It’s okay to lose, just don’t lose everything and take yourself out of the game.
47. When you do lose, understand your mindset is affected so don’t revenge trade to try to get back to even…paper trade, trade with small dollar amounts or even take some time off to get your head back in the game.
48. My trades are all planned for/played out in my head before I even enter the position…always have a plan BEFORE your trade
49. Choose specific points in the chart and stock price to represent your ideal trade, your mental stop loss and/or an acceptable point at which you’d get out if the trade is taking too long to play out.
50. 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.
51. Some trades work PERFECTLY very quickly so accept that and don’t be afraid to take profits if your goal has been reached.
52. 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.
53. 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.
54. I’m entirely self-taught and that hurt/stunted my education…my goal is to be the mentor to you that I never had…that’s what my trading challenge is all about.
55. Be transparent with your trades and post them all on http://profit.ly it’s good for you to keep a public diary so the community can reward you when you do well and scold you when you break the rules…we all want each other to be more profitable and disciplined so let’s work together to help each other improve! Sadly too many people don’t want to post all their trades openly and that only hurts themselves as they begin to lie to themselves and then to others (aka why most chatrooms/newsletters pretend to be uniformly profitable when studies show 90%+ of traders lose consistently)
56. Don’t use leverage on ANY trade; no matter how sure you are about a position, it can always go bad so why risk disaster
57. Alw
Good to read this, i got few things cleared specailly abt tehcnical indicators...I just cannot understand how people use RSI, MACD and MA in penny stocks, these indicators will never show true picture on Penny stock unless there daily trading volumes are in millions..point 108 help me reconfirm my assesment about technical indicators..
all u need support & resistance and trends lines. BUY on breakout and sell on breakdown
Jason Thanks for sharing your knowledge but dont you think in Penny stock these will show wrong picture, Eg, RSI wil easily get overextended if a stock is uptrending which logically means we should not be taking long position in that stock, whereas actually that stock may go up 200 or 300%
Those are not rules, takes an hour to read, a lifetime to digest, that is the essence of a master player, LOVE IT
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