How’s it going folks? This is my first official post here so let me start by introducing how I got into the stock market. I started reading up on stocks in 2009 after I heard an interview with a stock trader that said he loved the recession because it allowed him to make hundreds of thousands of dollars. Something along those lines, I was eating breakfast before an early exam. Anyhow, the next day I woke up and searched forums, went on YouTube and tried to find the best books. My next post will be another introduction of some sort and you can check out what books I’ve read.
Moving on though, I didn’t have the money to invest in some of these stocks but I kept learning and kept watching; till I ran across penny stocks. I knew that buying penny stocks isn’t a smart investment idea; after all, these companies come and go. So can I make money on something failing? I learned about short selling, which involves betting against a company (I’ll go more in depth in later articles, this is just an intro), and found that some of these little companies were promoting and pumping up their stock price and when the truth got out about them, their stocks would tumble to the ground.
So why were these companies crashing? Because they were illegitimately being boosted so that the company executives can make a nice amount of change as their stock kept climbing. I learned this system from Timothy Sykes, and I do owe him a lot for my penny stock fortunes. I did screw up looking back though. He was looking for students and my interview went pretty well, but I ultimately declined my acceptance because I was still in school for a bullshit program that I was only taking so my parents could say that their son graduated from university.
I watched his videos and learned how to do the research and was able to make trades on my own from there. I started off with very little of an investment ($3500) so I took things one trade at a time and it actually went great. After broker fees I was making small amounts of profit but I was having a lot of fun and got a great rush out of it. The advice I always heard on every video is that you should cut your losses quick, and that’s what let me get those small amounts of profit. The only problem was that I was sacrificing a lot of time so it was time to start investing a little more than I initially was.
After 6 months of trading, I made my way up to a bit and I was ecstatic. I put more and more focus on stocks and less on my politics major. As profits went more and more up, I stopped attending classes because I wanted to watch the markets and school was in the way. Instead of graduating that year, I dropped out of my second semester courses and played the stock market full time. This greatly increased my earnings and I was in the five digits. I’ve never had that sort of money before and believed that I could keep it up, I did have losing months, but I was making money still.
Before you think I’m advocating dropping out of school, that couldn’t be further from the truth. I believe that higher education is important and people need to be educated and trained to contribute to our economy. What I didn’t like was taking courses that would have only allowed for me to become a high school teacher and that wouldn’t have been an easy task. If you are in school, I still recommend that you finish it and then invest in the stock market when you feel like you have enough saved up. The aim of this website is to help beginners so look forward to posts pertaining penny stocks. Remember, be safe, Wall Street is no joke; become educated before dipping your foot in the water.