Timothy Sykes. How to Do Well Stock Trading. Episode 491 with The Real Brad Lea (TRBL)

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Originally from middle-class Connecticut, Tim had an interest in the stock market from a young age. Tim now can teach you how to do it and his approach as a teacher has been different than any other traders you know.   In this episode, Tim and Brad discuss how Timothy does well stock trading in all different market trends, take notes and tune in!   00:00 Intro 04:00 Rule number one is to cut losses  06:58 Timothy’s best lesson 08:20 Crypto 11:15 Training 12:20 “Lose money that you can afford to lose.” - Timothy Sykes 13:08 Bomb: “A profit is not a profit until you cash it in.” - Timothy Sykes 18:30 “Trade like a sniper.” - Timothy Sykes 18:50 Building schools 25:00 Bomb: “Come back to me when you lose enough; that’s the beauty of having a superior product.” - Timothy Sykes 28:55 Bomb: “Teachers should get awards.” - Timothy Sykes 29:48 Bomb: “With better teachers, we have a better future.” - Timothy Sykes 34:35 Wolf of Wall Street//Jordan Belfort 38:06 Check out https://www.timothysykes.com for Tim’s blog 44:00 Company’s with stories 46:56 Bomb: “If you’re going to make life changing money, it’s going to take time.” - Timothy Sykes 48:14 Bomb: “You can’t control the market, but you can control your preparation, that’s all you can control.” - Timothy Sykes 50:00 Bomb: “If anyone can do it, you can too, it’s about the work you’re willing to put in.” - Timothy Sykes 54:10 The recession