This kid made $300,000 with penny stocks

Buy a stock and shill the crap out of it and then sell your "majority" share portion. Rinse repeat.

protip: the youtube channel is run by the interviewer, tim sykes

tim sykes invested in penny stocks over a decade ago, and has been milking his luck every since.

This.
>guy wins lottery
>creates "system" on how to win lottery
>sells it for money
>has thousands of gullible kids that buy system
>most of the kids get BTFO
>one of those kids actually gets lucky and wins lottery too
>see! my system works!

True, the odds of making any real money on penny stocks are not actually as bad as winning the lottery but they are pretty terrible. If Tim Sykes actually knew how to replicate his luck over and over he wouldn't need to try to peddle his system.

it's always this, isn't it?

I dont understand what app lets you buy and sell penny stocks in the same day. Doesnt robinhood take like 5 days for a sale to complete?

Also if someone is using a broker with fees and he buys 100 bucks of a stock, it will cost 110 dollars and then another 10 bucks to sell. He needs more than a 20% gain in a single day to offset the fees.

Is trading like this only possible for people with a lot of capital?

>Traders hate him!
>Click here and find out why

>you know
>you know
>you know

Penny stocks are generally a bad idea if you don't know what you're doing.

Also, Robinhood takes 3 days for your cash to settle after you close a position, but generally that's not the end of the world.

You're able to avoid the 3 day period by inviting friends to the app. It's called Robinhood instant, and I believe it is a margin account.

I don't think you can day trade on Robinhood, because they may freeze your account if you overtrade. I'm pretty sure there are limits set by the regulatory agencies.

That being said, I usually go through 2-3 positions a week by spreading my money out a bit.

I'm up ~27.5% over the past month, and my positions have been held for 1 hour -> 8 days.

Very little downside, since I've done a fairly good job of setting stops and managing risk, but I'm still yet to get screwed by a sudden drop in after-hours that I can't close a position from.

>app

you ever thought of just joining an actual brokerage and depositing >25k?

>but i dont have 25k!

then start saving. and while you save you can start learning about trading and practise what you learned in sim accounts

All Im wondering is how this guy does his trading the way he does it on a phone app lol. It just doesnt make any sense. I personally already have a tfsa trading account. that I've dumped 5.5 grand into.

...

I don't understand this line of thinking - why not touch penny stocks?

Also your spelling being so retarded is a pretty good indicator as to why I shouldn't listen to you but I thought I'm curious to hear your reasoning.

Most brokerages have apps. He also mentioned level 2 quotes, so it was likely a well known brokerage.

>Penny stocks are generally a bad idea if you don't know what you're doing.

care to explain this position further?

Penny stocks are fine, but they often lack information and have large drawdowns.

Easy way to get wiped out by a newb is by trading penny stocks.

you noticed I made fun of myself for spelling it that way? jesus Veeky Forums is so uppity today

lmao the insurance and maintenance on a lambo would take all his gains in a couple years with only 300K. this guy can't even invest in himself you really believe this shit?

Did he use one simple trick?

>Anyone teaching anyone the 'secret' or special method of making money

Automatically a scam every single time in some way or another. People don't tech other people how to get rich, people looking to get rich by definition want to have more money than other people, helping those other people does not compute.

doesnt tim sykes post all his trades on profitly on covestor? isnt that shit pretty transparent?

Oh maidsafe coins? Not very obvious t.bh

>all his trades
No. He cherrypicks them.

buy penny stocks at the very bottom .0001-.0003 and boom.. there you go... check out AHIX and BCAP.. both moving up.

How can I get started in penny stocks? Do any anons have a tutorial or something, or a link for beginners?

Your trades can't be "verified" if you cherry pick the trades.

And he's verified on profit ly.

Anyway, it's not like he's even the best performing trader on profit ly.

>Also if someone is using a broker with fees and he buys 100 bucks of a stock
No one with a brokerage account would make a trade of that value.

>Is trading like this only possible for people with a lot of capital?
Do you consider 25K "a lot of capital"?

I think 25k is a lot of money for most people.

Well, the SEC set that amount as their cutoff for what they consider trading behavior, leading many to believe they don't consider trading below $25K safe for the average person.
So if they're correct, the SEC feels you need a "lot of money" to trade safely.

Only if you're day trading in a margin account, which I don't think is safe for the average person anyway.

Yes, I'm using "trade" in the professional sense, not as in the some guy rebalancing his portfolio annually sense.
The SEC feels that trading strategies like leverage/margin, shorting, after-hours can cost individuals even more than a traditional account.

There's a lot in between being a day trader and rebalancing once a year.

>being a day trader
That's a pretty loosely used term, to put it mildly.
And one that I haven't used yet, so I'm not sure what you're trying to prove here.

Im just saying someone with less than 25k capital has to start somewhere. The only difference between someone with a 5k account size and someone else with a 50k account size is the fees when making trades assuming both players used the same strategy.

>The only difference
I see.
So then why does the SEC require $25,000 for pattern day trading?
You could be successful with just twenty five dollars.
Stupid SEC.

because I think(I might be wrong) it has to do with your gains having to offset the trading cost($10 bucks a trade etc) When only buying 100 dollars worth of stock, you cant buy a stock and sell at a 10% profit because you'd still be in the hole from trading fees

If you're doing the same trade with $1000, all of a sudden your 10% gain made you $80 after trading fees vs you losing $10 if you only spent $100

The SEC could care less about commissions, or whether or not you cover your costs on a trade.
What they do care about is whether someone loses what money they have in the market, and then becomes a drain on society collecting welfare.
They seem to think that's more likely to happen the less money you have.

That's because people with less money that want to "invest" are more likely to be just gambling. They are expecting a big payout for little effort and end up losing it all.

Almost everyone invests, and most have little money. The account is the difference.
People who want to "invest" have no business in margin accounts to begin with. If they're using one, it's not in order to invest.
All one needs is a traditional brokerage account to accomplish that, and this is the route most take.

Whoahhhhh there captain, that's a load of fucking shit!

Just look at Mark Cuban! He went to Tai Lopez's house and made a video about making money with him.

Insert Tai Lopez 67 Steps Clickbank Affiliate Link/getmoneyhacklife

I would like to contact Mr. Cuban to enquire about obtaining some of the knawledge he may or may not have received.

who here /wolfofwallstreet/ verve salesman extraordinaire? :^)