A lot of people settle for day trading to make massive cash loads in a short frame of time. Trading is a business type where being a millionaire in about two to three years is possible. However, most people do not make it. Rather than profits, we watch our savings plummet in a moment. This article is going to educate you about an ordinary young trader who has made a tremendous success.
Who is Tim Grittani?
Tim Grittani is the day trader who managed to invest from $1,500 and reap $4 million in about three years. He was keeping a record of his trades in the environment of profit.ly, where it allows you to import your results straight from the broker. He is among the top-notch winners in the community of profit.ly and among the few traders who have shown a verification of their trades. He shows openly his trade as well as his losses.
Tim Grittani is a student of Timothy Sykes (penny stock trader and trainer born 1981 Orange Connecticut). He is not only a successful trader but also a teacher. He gives answers to questions from the students in the chat room of the trading challenge. Timothy, who is also his friend, has motivated Tim to create a DVD that shows his strategies to the other people who trade or who could be interested in trading. His DVD his created for people who would want to day trade and possess time for watching markets in hours of trading.
The Trading strategy of Tim Grittani
The principal strategy that got Tim to the millionaire status was penny stocks day trading. He purchased then shorted the OTC stocks which becoming pump and were being dumped by the promoters. These type of plays are lucrative because stocks could rise to about 100-s of the points percentage each day or descend by about 50 percent or more after a big run-up.
A skillful trader can turn the profit from either side through long Boeing as the stocks get promoted, and leaving the ship as soon the promotion halts and going short of the stock. Tim was successful in this strategy because he did an in-depth background check on a lot of promoters. This research gave him insight. Currently, there are few pump - dump schemes available. Grittani has changed to the day trading large movers in the penny stocks of NASDAQ.
After a difficult beginning, he has been able to earn huge profits with the stocks of NASDAQ, and he has been making consistent profits in spite of his original strategy fading slowly.
Conclusion
You can have a happy ending in the world of trading, even though such cases are rare. Tim is an excellent example of how one can be successful through effort and hard work. Once you possess a system that is good enough, what only remains is adding in the hours. For you to become among the 5 percent of the traders who consistently make profits, then it is mandatory for you to put in work more than the 95 percent who fail to do so.
Penny Stock Trader Tim Grittani: from $1,500 to $6.1 MILLION | The Tim Sykes Show