I’ve made so many dumb trades over the course of my life. Learn from my mistakes, so you don’t make them, too. SUBSCRIBE: https://bit.ly/2MDNeVq to get INSTANT alerts when I post a new video outlining my penny stock trading techniques.*
What is the dumbest trade that I’ve ever made? You can see my biggest wins and my biggest losses on Profit.ly. I’ve had several wins of over 50 or even 0,000 in a day. I’ve also had several big losses. I lost roughly 0,000 in one day. Just so dumb. It was back in 2004 the Asian Tsunami this company, Taylo Devices TAYD. was the ticker.*
Every building in Asia was going to need this earthquake absorption equipment, but I thought to myself, this company is near bankrupt, you know, even if they got a bunch of orders there’s no way they could fulfill them, there’s no reason that this stock is spiking or it shouldn’t be spiking this much and at the time it was like up from like one to four, one to five, one to six in like two days and I was like this is ridiculous.
I bet on it going down which is what I like sometimes doing, not lately usually now I’m going long but back then I was a big-time short seller and I thought that it was up for the wrong reasons and I bet big and I had a hedge fund at the time so I had, you know, my money plus friends and family so it wasn’t as huge of a risk for me but, you know, it was still pretty much everyone I knew and the stock just kept going, you know, and it had now gone from like one to eight a few hours after I shorted it thinking that that was the top and I took the loss. It was roughly 0,000.
It was towards the end of the year, and it ruined like months of smaller profits because I bet big and I was like this has to fall, and I learned, you know, nothing has to fall. No stock has to do what you want.*
I was so out of it from the get-go with my mindset and thinking that it had to go down and thinking that I had to be right. I, you know, opened myself up to a giant, giant mistake and even though I made it back, that’s beside the point. A lot of the time I’m on the right track, but I short sell too early.
All of them will crash eventually, but you can’t pick the top so if you are going to short sell I don’t care how irrational it seems to be careful, be scared and play it safe. Rule number one for me that I’ve learned the hard way to implement is to cut losses quickly. You can’t just put your, you know, flag into the ground and say this is the top. The market doesn’t CARE what you think so to be safe and leave a comment underneath this video and message me. Let me know if this lesson resonates with you because it frankly should.
* 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: https://www.timothysykes.com/terms-of-service/.
The DUMBEST Penny Stock Trade Ever (How I Lost 0,000 in One Day)