Stock Trading with Timothy Sykes

In this Show

In this episode of Ask the Pro Grant Cardone interviews Timothy Sykes. A millionaire by 22, he skipped college classes in favor of trading penny stocks every day—turning 12K into $2 million. Today he teaches others who want to try day trading but have no idea what they are doing. He created a community of over 84,000 traders who share their trades openly. Timothy confesses he loses 30 to 35% of the time, but being wrong is ok as long as you control it. Grant hates stock investing—it’s like gambling. People want to get rich quick. They discuss the idea of “Pump and Dump” when insiders pump up the stock, but they are not really going in. Timothy warns that if you listen to tips, you might be getting burned. People know the scam or believe the scam. Other tips offered in the show include to never try and catch the bottom or the top, to remember that hope is not a strategy, and that it’s ok to be a “coward” when it comes to day trading. It’s not investing, but it’s made Timothy a lot of money—and his students.