SteadyTrade Podcast With Tim Bohen

I'm here with Tim Bohen on the SteadyTrade podcast talking about our recent New York trip ... We got to ring Nasdaq’s closing bell and present at the TradersExpo. It was a super cool NYC trip. Check it out!

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I just did the SteadyTrade podcast with host Tim Bohen, who’s also my friend and student. We're reviewing a lot of what's happened recently, especially our trip to New York. First, we rang Nasdaq’s closing bell — a dream come true! Then we presented at the TradersExpo. Overall, it was an awesome trip.

This was actually my second time ringing the bell at Nasdaq. It was an honor both times! It’s awesome to be up on a giant billboard in Times Square.

And it was great to be back at the TradersExpo. It’s been about a decade since my last time. It’s interesting to see what different traders are into — blue-chip stocks versus penny stocks, low-priced stocks, options, and so on.

It seems like the whole world hates low-priced stocks, but they work for me. I think it’s a great niche, especially for average retail traders. You can control your risk, and you're not competing against huge investors because there's not enough money to be made.

You can hate on penny stocks, and you can hate on me. But I like to keep it real. I'm gonna keep doing what's worked for me for the past 20 years. The patterns haven't changed, and the rules haven't changed.

I’ve refined my rules a little bit. I'm way more cautious now — I'm more long biased. I have lots of lessons on short selling, but in this current market, and with the amount of newbie shorts, the risk/reward just isn’t there.

Trading volatile stocks in one way to go, but you have to be prepared and have a plan. Look for the potential upside. And remember to monitor the risk! If you don't have that potential upside, the stock isn’t worth trading. If you don't know how to monitor the risk, it’s not worth trading. It’s a balancing act.

Learn from the process. Don’t copy our trades or anyone else’s trades. See what we do right, as well as what we do wrong. Adopt the ‘no days off’ mentality.

If you have a job, are in school, or have a family, make time to study. You can study at night and on weekends. There’s plenty of time in the day ... If you’re wasting it, stop doing that!

You can create your dream life. It’s up to you to commit. There will always be opportunities. The key is to be ready for those opportunities.

Trading is all about improving yourself. You work to improve your knowledge account and your bank account. You work to improve over time. So even if you don't get it right away, you have to be patient. Pace yourself for the long haul. This is a marathon and not a sprint.

Invest in yourself. Put your money into education and learn to be self-sufficient. And if we can help inspire you or teach you anything that we've learned over the years — that’s our ultimate goal.

What can you do to better prepare yourself? Leave a comment and tell me the most valuable thing you learned from this video.

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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.*

#TimothySykes #Pennystocks #Investing

* 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