Timothy Sykes, millionaire stock trader and entrepreneur who turned $12,415 into over $5.9 million, joins our show in this special episode of the Elite Man Podcast! In today’s episode Timothy talks about the ins-and-outs of investing, trading penny stocks, and making millions of dollars by making the right moves at the right times. He discusses how he took his bar mitzvah money and invested it in the stock market and turned it into over 100k. Tim also talks about how he teaches others to duplicate his investing success and how they can get started today in this crazy and often complex investing world. If you’re wondering how to get started in investing and what you need to know before you begin, check this episode out now!
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In our episode we go over:
- How Timothy turned his bar mitzvah money into over 100k
- Why he continues to trade penny stocks and uses only 12k each time to start with
- Teaching others how to turn a few thousand into a few million dollars
- Being on the show Wall Street Warriors
- Tim’s problems with running the hedge fund and what it didn’t work
- The benefits of using penny stocks
- What Jordan Belfort did to scam others with regard to penny stocks and why he went to prison for this
- Why you don’t need to believe in the companies you invest in with penny stocks
- Knowing the limits to what you can do in the investment world
- Being able to lose what you can afford to lose
- The fact that 99.9% of penny stocks fail
- The fact that the 99.9% failure rate doesn’t matter at all
- Understanding the timing of when to invest and when to pull your money out
- Why the Shutdown has been Timothy’s best investment year ever and why others are crushing it right now as well
- The art and science of investing
- Robinhood, E-Trade, and other investing platforms and which ones to use
- How Tim learned all his knowledge about investing in high school
- Timothy Sykes’ best strategies for investing
- How to mitigate your trading losses
- Not falling in love with your investments
- Short-selling and what this really means in life and in investing
- What to look for in a stock you’re considering investing in
- What penny stocks actually are
- How much time you need to spend researching your stocks and working on your investments
- How many stocks to be investing in at one time
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