Tired of Being Broke? How To Trade With A Small Account
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- Опубликовано: 5 окт 2024
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I get a lot of questions about trading with a small account. Let’s get this straight: trading with a small account isn’t a bad thing. It doesn’t make you less of a trader. In fact, here’s how trading small can be a smart move.
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FULL DESCRIPTION
If you trade with a small account, be grateful. There are a lot of benefits to trading with one.
When you start trading, I think it’s key to start with the right mindset. Too many people focus on the wrong things in the beginning of their trading careers. What it’s really about is growing your knowledge account.
Study the past, the patterns, and the rules. Be prepared for when you start risking your hard-earned money.
What’s rule number one? Cut losses quickly. It doesn’t matter how small or big your account is. You have to protect what you have. The money that you make or lose in the beginning is negligible. Focus on LEARNING.
Penny stock trading is risky. You will lose sometimes. It comes down to being meticulous with strategy. You take one trade at a time, take careful aim, and trade like a sniper.
It's not really about the money that you make when you start trading with a small account. It's about your education and growing your knowledge account. Again, you will lose in the stock market, but sometimes losses can teach you the best lessons ... You learn what not to do.
Remember that you have two accounts: your monetary account and your knowledge account. You can always learn. You can still get better. You just have to stay focused.
So what do you need to do to really grow a small account? Amazing hot picks? Luck? Nope. You have to be meticulous and respect the process. It’s a marathon, not a sprint - especially when you’re trading with a small account.
How much do you think size matters when it comes to trading? Leave a comment and tell me the biggest lesson you’ve learned from a trading loss.
#TimothySykes #Pennystocks #Investing
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Hey, it’s Tim Sykes, millionaire mentor and trader. Thank you for watching my videos. I hope that they help you. I want to share everything that I've learned over the years. You can check out more videos right over there, and also click ‘subscribe’ so that you can watch all of these videos, get that knowledge and become my next millionaire student.*
----------------------------------------------------------------------------------------------------------------* Results may not be typical and may vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here: www.timothysyk...
Do you think size matters when it comes to trading? Leave a comment and tell me about the biggest lesson you’ve learned!
Position size does matter Tim! Can't make $1000 with 10 shares LMAO
Size matters, but you don’t need 10k to start trading. For some 10k isn’t a small account for others it is.
Yes If someone win few trades, he becomes over confident. He started taking bigger sizes aggressively which lead him to wipeout his account. In a day trading, our hormones - Testosterone and Cortisole cause excessive risk taking after winning trades and breakdown confidence which leads inability to follow trading plan and take bigger risk to get back losing money.
Size doesn't matter as long as you are smart with it. Don't be greedy cut your losses quickly.
FunkyFlexing Gaming yes, exactly!
Why aren't children taught this at school? This is really important education and we really appreciate your drive to educate.
yep! couldn't agree more.
I started off with a small $2000 account, and grew it up to a $4000 account but im still trading it as if its a $2000 account. Especially while im still learning and growing my knowledge account. Only been 4 months for me trading full time, after 6 months of studying and I know I've still got allot to learn so im just grateful to not have blown up by now #tradelikeasniper
what broker do you use bro?
Yep same question. What broker do you use?
What broker?
@@pandaking7297 td ameritrade thinkorswim
@@kevsut3880 td ameritrade thinkorswim
Started with $3000, grew it to $4200, then took huge loss ending at $3100 and now at $3600.
I will only use you Tim as my mentor because your the real deal… I don’t think size matters as a newbie because I always want to maximize & magnify my profits with as little capital as possible and having tight stops to cut losses quickly which I will still practice after I’m experienced… thx Tim… Gary
I was feeling down about my trading, amazing one vid can lift u up again, round two...
You got this!
@@TimothySykesTrader thank you means a lot coming from you
$2000 in my account, 6 months into the Challenge. Focusing on studying (so much material available to me) and making some small trades to try out strategies (100 shares). Focusing on the process, the profits will take care of themselves, if I also stick to the #1 rule of cutting losses quickly.
Putting whatever money I can afford into my account until I have at least $1500, I have $400 in there now, paper trading and studying until then. 4 months into my journey.
Anthony Amaya-Nestor. I'm right there with you. Just put 500 in an account. Have been studying on and off for about a year but kickking it into overdrive now that the money is in. So about one month of committed studying. Good luck.
Anthony Amaya-Nestor I’m in the same boat! Just got to 400 but making sure my paper account is green for this month before I play with any real money. Keep up the learning!
NM Fishing Nice man. Good luck and God bless you. I hope you make it big.
Tyler Shimek Good luck brother. It’s hard but it’ll be worth it. You got this man.
How is your journey going man since 5 months?
Had 5k, lost 2k in learning process. Just had 5days in the green!
keep at it with cutting losses quick and always prepare with studying pattern examples/drill indicadors
Biggest lesson, daytrading is 90% psychology/e.q. and 10% knowledge
dope
LMAO he said "ahhhhh calm down". Quickly shut him down. Your vids are great because you keep things interesting with your personality all while giving great information. These will always be my go to's
😂haha thanks
I was terrified to even enter a trade a month ago. After I saw you, I am trading with a paper account. I have been up $135.00 and tried to sell it in pre-market hours, but didn't know i had to set it up GTC EXT. I lost $25 on that one, but only because I remembered your #1 rule and I probably would have lost more if I didn't remember. I learned a lot from that one trade and I am continuing building my knowledge account because I see I have to UNDERSTAND..... That just has to take time.
As long as you learn from your mistakes!! 🙌
The complete penny stock course is a great read! Learning and loving the process!
I haven’t seen ANY video of you that really teaches something useful, rather than advertising and selling your books!
Hey tim thanks for the video. Ive been studying your lessons religiously for the past few months.It's been very hard lately to stay motivated to keep studying because of financial obstacles in my life but I pledge to continue to build my knowledge account until I have the funds to start trading. Thank you
Started with 1k in January. End of June I had 9k end of July I had $84. Took a breather and hit the books and since then I have not made less than 9% total on 1-3 day swing trades only per day. Slowly growing the bank and the mind again.
Large acct but starting w 10k.
Cut losses quickly!!! Greed is the enemy!! Gotta learn to take profits quickly also.
Thank you!!
you got that right!
Started with $100. Realized that’s does nothing. So continued to add every week I have over $2k in there now but only trade a few hundred per trade. If a play is working I add into the trade.
Started with $200 dollars and have double my account with the tip on SAVA. Thanks Tim
Nicely done
$0 with monetary account. Building knowledge account is more important.
Joshua LIndsay LOVE IT!
Thanks Tim, I’m a big fan! I just signed up with silver to get started. Hope to join Millionaire Challenge soon. Thanks for being you.
Starting with zero knowledge, not just of stocks/trading, but finance in general. However, have always been fascinated by the stock market. Decided to download Robinhood and deposit $100 into there to play with (but mainly as fuel to fire my pursuit to go from 0-100). Lots of info but an here to learn! Excited for this venture! People like you and your vids make this possible for me, can’t thank you enough!
Thanks Tim, I needed this exact video to keep from procrastinating while I saved up some money!
Bald Guy Flies Planes keep up the good work!!
July 7th I stumbled across one of your videos July 28th I delved completely into your education,,,,,, and my life was never the same the rest is history, SIR!!!!!
You trade in Hotels. Can you make a video about security? How do you do that?
Thanks for everything Tim!
I'm not worried about trading right now. Just learning and building up my capital to have a small account.
Good, keep it up!
@@TimothySykesTrader - Thanks man. The Complete Penny Stock Course is gold. Still trying to have a firmer grasp of Support and Resistance...at least how to ID them. Will be getting PSS and STT in a few months.
I do not have a trading account at the moment. But I do have a knowledge account. I am starting the process. Thank you Tim Sykes.
You are soo inspirational. We gotta use our money to make money instead of working for money and being broke till we get paid again. Tradinfg is not lazy people who will not put in the work. Trading is for those who are hungry and want to change how they live and it takes time. People can not be scared of failure, they have to try. I have only $200 and made $30 just the other day. I plan on adding more $$$ to my trading account everytime i get paid and grow it. If we do not try, how ever are you going to know what is possible. The 9-5 sucks and thats my drive because i hate my job. Thanks tim
Currently just under $1000, Ive got a plan in place so that i will have enough money to get started by the beginning of next year. Ive been growing my knowledge account for over a year now, so i definitely feel like im ready to start running this marathon. Good vid as always Tim!
I started out by reading Stock Investment for dummies and reading a few Motley Fool pages. I just watched this and they say what you say, to learn and get started. I opened a E Trade account with $1000 and then added another $500. Its been a few months and Ive seen it go up and down. Now that I am here I feel the need to watch more of your vids. The lesson I learned, Don't worry about losing some to gain more.
Thank you for sharing your knowledge Tim! This is the 5th video i watched so far and i can definitely said i found my mentor. May God bless you! I started with $870 now at $488 but i have definitely learned a lot specially from the losses lol
Good! Learn from your losses and cut them quickly
I am starting out with a $1,000 Account, not trading and focusing on my knowledge account! New to the challenge, overwhelmed is an understatement. Knowledge is power!
Hey Tim! I'm a complete newbie to your videos, but I've been trying this with minimal success for about 2 years on my own. I need to grow my knowledge base and this seems like a good place to reset and restart from!
You can do it!
$500 account here 👋🏾
Risk management is number ONE!!!
Risk management and discipline is what retail traders lack
That’s very important, Knowledge Account to be built is very important . I haven’t started any trade right now but I am catching up every pieces of information.
Keep it up!!
Opening an account 10/1 with $2500. Up til this point I'm building my knowledge account every day!!! I definitely have a scared trader mindset. I agree that the money isn't the main thing while just getting started. I'm trusting the process !!!!!!!!!!!!!!!! Great video once again!! Thanks man
76 dollars and moving... limit orders and stop loss orders... making and losing pennies! But got to start somewhere!
definitely! 👍 Keep learning, always.
Love the video Tim I have $4000 saved up to trade but I'm scared to trade I want to learn before I dive in.
Edward Mendiola RUclips has months of free info! Good luck on your journey! Ziptrader is great for beginner knowledge
man you spitting facts thanks bro
thanks!! 💯
I took a trading course, then started out with $2k and traded for a month. As I started getting $50, 100, $75, then $500 earnings each trade I then invested another $2k ontop of that and got up to $8k, doubling my money. I then lost $2k in 1 day, and another 2k after that..down to $4k last week..now back up to $5k. I decided to stop shooting for the larger earning % and decided to take $50 or so each time to get my nest egg back up. I'm learning a lot!!!
I'm at $50 but I'm paper trading to build knowledge
I made $75 once using only $500 in a day but that gave me proof that you do not need a lot of money to start. Cut those loses. Tim you are my god
Why on earth is this not taught to our children at school? not even the private schools teach this. We really appreciate your drive to educate.
💯👍
I blew up my first account of $900 because I didn't follow the cutting losses early rule, I'm now in the process of trying to save up enough money to start again whilst still continuing to build my knowledge account. This time I will follow the rules to the letter.
This is the best adviced i ever get by anyone in stock market.. Thank you Tim.
solid reminders here--I get ahead of myself sometimes... Year 3/4 seems to be the time I need to give the real money. Patience. 3500.... Back to the books...
just added $400 to my e*trade account. won’t start trading till i finish how to make millions dvd. have been taking small 100 share positions with a $1000 paper trading account on stt. made a $43 gain today. putting my paper trading account on the pdt rule. gonna read up on e*trade fees and add them in tomorrow!
I have a $100 account right now, but i've been studying and paper trading since June to some success. One thing that i've learned are that i'm currently a better short seller than I am a long seller, but i'd like to improve my skills going long here in the near future though. I also have found that I have more confidence in trades that i've taken here recently because of videos like this and journaling my own trades to see where I make mistakes.
Timothy I'm so hooked I want this where do I start ...I need direction to become one of your successor
Yea Tim! Wassup u fakah! Eh I found u on Steve Harvey Show…luv what u doin my man..Mahalo Nui Loa! 🤙🤙chee!
Thanks Tim. I'm currently building my knowledge account for free...
ive got 1250 in td, currently studyin examples and indicadors with profitly and your tim vip
I’ve been growing my account for a bit now and have grown to 30k. I am doing as much studying as possible and I’m planning to quit my job within the next 2-3 months in order to be a full time trader. Wish me luck.
Good luck dude! It's a crazy challenge but you gotta love doing it!
Anthony Marcoccia it’s great that I’ve been able to find something I love doing everyday and the money is just extra incentive to keep studying and pushing to be the best
How much did you start with? , don't even have up to a 1000 dollars to start with.. Don't know if I can start with a 100 or few hundred dollars at least for educational purposes... And don't know if I even stand a chance with that amount ..
Bassey Akpan it’s totally fine even if you don’t start with a whole lot. What I did when I didn’t have that much to start was I just studied my ass off while saving as much as possible. I didn’t necessarily start with a set amount because I would just wire transfer a set amount of money each month into my account. I stopped putting money in my account when I hit 25k. I’m now up to 33k. If I were to give a recommendation I would say paper trade until you have maybe 2-3k. After that then you can start taking some real positions. Until then study study and study. Good luck
Hey congratulations bro let's get it 👍
Great way to look at losing, there is ONLY UPSIDE for you if you look at it that way. Awesome point TIm and the videos are always appreciated! Thank you big time man!!!!!
Started with 7k... went to 1.5k and now I'm back to 2.3k. Took too large a position and overexposed my account.
Account size is very important not just for the obvious, but for your mental game. I traded with $100,000 with paper and got $1 million in a couple months. But when I went with a real account with $1000, I'm in the negative by 40%. Starting with a larger account allows you to not force plays because even a small win on a large account is feels like you accomplished something. A 10% win on a 5% risk for 100k is still $500. Do that on a $1000 account and its $5. Having a small account makes you feel like you need to force trades because it seems like anything a $100 feels like a failure. Not to mention, you're pretty much gated off from consistently doing day trades due to the PDT.
Knowledge will carry you further more than anything! Thanks Tim for helping me start my dream.
Absolutely- knowledge is everything 👍
Tim makes so much sense.
He can’t drive your rolls he needs knowledge too 😆
amazing video, After a while, you can kind of predict what he is going to say because he repeats key information. Its always like a mini quiz for me to predict what he is going to say next in each video lol.
I have 21k
I have been trading a bit in Canadian markets and am up 5k in 2 months ...but I want to learn to be up that at least in a week if not in a day ..
your US markets go sooo fast! I have soooo much learning to do and am super grateful to be a newbie Tim Challenge student.🙌
YES SIR!!!! Going live very very soon waiting for final deposits to fly through, will be starting with $2,150.00 in less than a week.
I will split into 1/4,s, so if I do break your #1 RULE: CUT LOSSES QUICKLY, (AND INTELLIGENTLY) (which I won't), I'm very OCD that way, specially when it comes to fundamental rules,
I WONT BLOW UP MY ACCOUNT, A BACK UP FOR THE BACKUP. DOUBLEY SAFE.
61 Days of studying 12-18 hours to complete your 30day bootcamp & Pennystocking Silver course (with perks) & StocksToTrade University.
This is just the end of the beginning , now I have over 2050 video lessons on Profit.ly to go through & all your youtube lessons,
The last 61 days was just the base of my education. Thankyou sir. Thankyou so very very much.
Keep it up!!
I started with $350 down to $200. Studying more than trading but trying plays of $50 at a time. Need to cut losses faster and take profits when I have them. Must stick to my plan and stop holding & hoping.
that's right- always cut losses quickly!
$0 growing my knowledge account 😁 working on the syllabus & Jamil's book.
Good! Keep learning all you can
$2100 in the account, started with $1500. Watching 3 or 4 different stocks each week watching previous patterns before taking a position, 2% to 3.5% weekly profit.
I burned several accounts in years, now I have 13k of FF&F, but now I able to make from 3 to 30%, I won 3k in the 3 months, and in this month I learn to cut my losses at 2% without leave the opportunity of the trade, I learn so much from you, your videos and I hope soon I have the money to apply to your challenge. Regards from MX
Having a smaller acct. seems to be better when you are starting to learn to avoid losing a ton of your money. I think pple tend to make better decisions with a smaller account. Once those good habits are in place then it may be okay to move on to a larger acct for sizable gains. It’s all about how disciplined you are in the beginning.
Currently at $1,100. Can't wait to learn more and grow
awesome! do profitly and tim vip
Just bought your book on Amazon “The Complete Penny Stock Course” will let you know how I get on 👊🏻
Awesome!
Currently at $1017, made some mistakes along the way and lost all my profits ($700) but I am still not giving up and learning with each trade!
I started with a small account of $1300, made $12 last week. I'm a pretty scared trader right now because I'm still learning.
Knowledge First. Size does matter in context to Knowledge First
started 11/24/20 with $900, 02/10/21 $2840.90, and today $1494.19 sad because i didnt protect my self from the energy crash...............
Had 48k down to 16k, yes nasty losses, back to 21k trying to dig out
I’ve got a small account, what should I do? I started 3 years ago with $1000. Still have $150 left in it trying to save it. Haven’t blown it yet! Ha. I’ve been studying daily and hanging on this account to train with. I get a good run of wins then seem to hang on to a loser against my own conscious knowing I shouldn’t. I got back up before to $750 but then a loser hold. Been trading every week and still have $150 from my training account. I’m not upset but happy about still using initial investment used to test skills. In time I’ll do a larger account but need to get this to $1K first as a goal.
First point is very imortant ..Trade Like A Sniper....My biggest mistake from last year ..Was to be to impatient to trade ...The Chinese have a saying ...Patience has its own virtues ....
Great tips! Patience is the key. I’m def going to get a mentor to speed up my learning curb. See you in the near future Tim!
Dope! and dont forget to cut losses quick and drill pattern examples/ indicadors
Tim, I'm a school teacher home on Coronavirus leave. I made a promise to myself in February after back surgery that I would study stocks. I'm a newbie. I've been watching your videos mostly because you're half teacher half preacher! My question is, besides binge watching your videos for hours and hours, is there a playlist order that I should start with? I don't have an account, I don't know how to set one up. I said I was green! I'm very smart though, I"ve reached a place in my life where I'd like to grow into a new dimension. A hundred years ago when I was a college student I took some business classes and I got an A! I really love data, numbers, comparisons, trial and error, studying and learning. Please guide me. I am going out on a limb because you told us to share our questions! No question is a bad question. Mimi
Started with 100 and is at 150 after a week but I am Studying pretty heavy so I'm not worried
Nice, keep studying!
@@TimothySykesTrader thank you! I'm working hard getting ready to join your challenge hopefully soon!!
I know nothing about trading....i dont even know how to start....what to do ? Whats your advice?
hi Elizabeth! start here: bit.ly/2LZWMbW
I currently am at $705 🤷♂️
Corey Lueneburg nice! what lessons have you learned along the way?
@@TimothySykesTrader Biggest lesson so far, take profits when you have them, quit waiting for that 500% dream spike that all the pumpers out there artificially spread. It's helped out a lot, and I'm slowly growing everyday.
16,700$
lmaoooo you have the best energy!! i love it !!!
This guy motivates you so much his videos teach you everyday about stock trading just watch his videos 2-3 Times you'll learn alot and he keeps it real with you Timothy sikes dont lie about what he talks about he is the real deal
I started watching your stuff just last Sunday and I downloaded your book American hedge fund and trying to pick from everything your teaching want that knowledge account to be packed! I have a small about I don't even want to say but I need change and ready to put in the work! Supernova was great I keep watching it!
. Only two weeks in and watching all the videos I can get my hands on.
Nice!!
I highly suggest trading OTCs (sub dollar) for all you beginners
Great video Tim
😎🙌
I'll be starting with a $4000 account at least come January.
Until then it's studytime and paper trading time.
Taking your advice Tim by doing at least a month of paper trading, going into real trades with small positions and thereafter going in with only $1000 or $2000 per trade.
Sensei Tim :)
$1500 USD account. Haven't found an international broker to open with this small account.
suretrader
if ur in the usa do tdameritrade or if not do suretrader
Interactive brokers
Well said knowledge is key 👍
appreciate it!
I have $1000 in my trading account. It's hard for me to find good stocks cheap enough for me to buy and not risk a lot of my account in any one trade.
Okay, I found this video that may help me because I'm on disability, like I explained on one of your older videos. I hope this helps. I have a learning disability, didn't get the chance to go to high school. We're alot alike. We learn on our own & I have ADD too, just like you. I hope I can figure this out. Thank you so much for doing these videos. I hope to watch every single one of them as time goes by. You seem like someone who nails it most of the time. Alot better than some of these teachers making stock videos on youtube....Thank you & stay safe from Covid...:)
I plan on starting with only 2k because I need to make sure I keep emotion in check
Tim I have a friend who is in stocks who referred me to you. He said your style isnt for him, but I may like you and i'm 3 videos in and love you. Quick answer to your question I got $400 in an ETrade and ready to work.
Thank you Tim for this video
you got it 👍
I'm starting to trade with an $2600 account. Thanks for all the videos.
I have zero in my monetary account. Every single day at work I work on growing my knowledge account. I'm doing something a little unorthodox because I cant be on my phone all day at work. What I'm doing is studying stocks and mentally making trades just to see if I made good picks or still need to learn. About two months ago I really wasn't in a good position to be trading, I made 3 mental picks over a month and the stocks really didn't do what I predicted theyd do, in fact I would've done horrible things, so it was back to studying. Over the last two weeks I studied a few stocks i picked and watched them closely (when I could). I did well with two as far as predicting how they would move. I feel like I'm making progress, but I still have a long road ahead. This may not be the best method, but I feel like it's really working for me as far as being able to go back and see what I did wrong, or what I did right. This is pre season, I'm adjusting my lines (I'm a hockey fan) and seeing what works and what doesn't.
I have a small account for sure. Not as focused on the growth on that account as much as I am concerned about my knowledge and working on a paper account as well. I still work on the small account but I take the risk when I see a good opportunity versus my paper account I look for trades hours a day. Enjoy the videos 😁
For starting I think we should all starts around 1K/2K if possible and even if you have 25K in bank. Even after learning a while and paper traded there will be some losses. Larger amount you put on your broker, more you expose yourself to lose it all. If you have 10K then start with 2K and see what you can do with it. If you lose it, then you have another 2K to experiment and get better.