Written by: John Robert Vega
Penny stocks or widely known as cent stocks are widespread shares of small public companies that trade at small amount in every share. Some people, particularly penny stocks traders have become successful because they have committed themselves and time in this kind of business.
Here are some of the stock traders who are now well-off and well-known in the field of penny stocks trading because they have worked strenuously.
Tim Grittani is a 24 year old stock trader who started penny stocks trading with the amount of only $1500 and absorbing all the points and techniques his teacher, Tim Sykes taught him. Grittani has obtained a profit of $1 million. Grittani trades penny that are usually low in price not over $1.
|Image from Timoty Sykes|
He made a clean breast that it was not an easy-peasy task and it is very delicate. And not everyone is capable of doing such. He said that he has been trading for three years and every day of his life. It was a very lethargic and everyday process. According to him, in order to buy and sell stocks at the exact time, he spends all his time and whole day trading in front of his computer. Even though that there were hear-says that this kind of business is unreliable and has dangerous schemes, nonetheless, he is able to obtain money because he is knowledgeable and conversant on what he is seeking and has the guts on how to get money out of scams without hurting and harming himself.
Actually, the short bet against a company that had been the center of a pump-and-dump scheme was the trade that finally made the amount of his portfolio reached beyond $1 million.
Timothy Sykes was born in Orange, Connecticut in the year 1981. He is known for being a successful and connoisseur in entrepreneurship, stock trading and of course penny stock expert. He is best famous in making his money from the bar mitzvah into more than $1million during his day trading amidst his classes at Tulane University Sykes earned $12, 415 when he was still a high school student in the year 1999 which he got from his bar mitzvah money and started h4s day trading penny stocks.
He has made that very first investment more than $1.65 million before reaching the age of 21. Sykes started diverting his attention in having investments than trading that was why Sykes fund declined more than 36% in January 2006 and July 2007 whilst there was a hike up in the overall market up to 25% that compelled Sykes' fund to shut down.
During Sykes' senior year, he founded Cilantro Fund Management LTC. It was proclaimed the #1 ranked short bias funds starting from the year 2003-2006. Trader Monthly in the year 2006 hailed Sykes as one of the top 30 under 30 traders in the market.
In 2007, Sykes released an American Hedge Fund: How I made $2 Million as a Stock Operator and created a Hedge Fund that explained how he became a multimillionaire from a mere college student day trading penny stock.
These people who are known for being penny stocks traders epitomize that there is no small or big business once a person puts forth his effort, commitment and assiduousness in his job, certainly, he will thrive from being zero to hero.