How to Make Millions – DVD Review by @timothysykes Disc 11

Link to purchase “How to Make Millions” DVD by Timothy Sykes

How-to-make-millions

Link to Table of Contents

Review:

Going to be another quick review of this chapter, again like the last chapter it is composed of a couple webinars plus some detail from Sykes in the middle. While I am going to be quick in this review it does not in any way indicate that the chapter is lacking in content. I simply think that it needs to be viewed to be appreciated.

This segment starts out with Gritanni’s presentation from the Pennystocking conference in 2014, I really appreciated it and enjoyed it, because I was at a different event during Gritanni’s presentation this particular year so I missed this. Gritanni does a very solid job of describing his history as well as his style. Plus he details some of the very detailed ways he tracks performance. He also goes over one of the best tips I have ever gotten from him, the idea of hiding your P/L. It seems odd but as an active trader you really need to focus on the chart not your P/L. Of course you can’t let losses run away from you, but at the same time, if you are a technical trader, which most day traders are, you need to let the chart tell you when to exit, not your P/L. Good stuff.

The middle portion is composed of Sykes going over some of his more successful past and present “students”. This is useful to someone new to trading just to see what is possible in the world of pennystocks. No real education here, but it is for sure motivational.

The last part of the chapter is Paul Scolardi (Superman) giving a presentation about his history and style. Very useful education if you are more of a swing trader, plus it’s a fun presentation. Paul is a very boisterous guy and fun to listen to speak.

Rating: 3 out of 5 (The content from Gritanni and Superman was very useful, but I marked this chapter down because the middle third by Sykes just felt like “filler”)

Notes:

Gritanni from 2014
-Back story
-Why was Gritanni successful
-right broker
-liquid volatile stocks – don’t need perfect trades
-focus on a niche
-Cut losses intelligently
-Volatility
-Dont need to be perfect, can catch the meat of the move because of range.

-Find and focus on your Niche
-Migration to Nasdaq’s from OTC
-diminished value of L2
-Short big runners

-STAY FOCUSED
-Dont follow others
-Don’t compare yourself to others

Assume EVERY OTC is a short

Marijuana Craze

Watch for active sectors

Listed stocks

Hide unrealized P/L and just trade the chart

Cut losses intelligently not necessarily quickly, thought they may be the same.

difference between smart and stubborn

Nasdaq scanner
up 15%
total trades < 3000 price < $10 Good Q and A especially on position sizing and scaling in. Eric Wood -Great trader but Sykes and him don’t get along Ivan -Background -Primarily shorts pump and dumps Azimjon -Intern -Named his son Timur (Tim) -200K in profits started with $2K Mark Croock -Moved from cubicle life into trading -Croock Presentation -background -I love Mark but his public speaking is hard to watch.. -He know his stuff though and good content. Superman -Swing trader -Finds momentum before it happens -Former CPA -Emerging markets -Presentation -Funny story of Super being “pumper” and his history -Good breakdown of how to trade low floats -

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