Hello Everyone!

How are you guys? Are you enjoying this weekend and using it to review your trades, create watchlists, study, and catch up on your reading? Good! Me too! I know today is the Super Bowl so I hope you are able to fit your studying in! Make sure to leave a comment below on which team you wanted to win and make sure to tag me on Twitter @tessalamping on how you are studying on Super Bowl Sunday!

                                             (This is my trading partner. He loves trading)

For Beginners 

I have been getting a ton of messages on Instagram asking me:

1. What are penny stocks
2. How do you trade penny stocks
3. How do I learn to trade penny stocks
4. Does day trading provide a stable income
5. What is Profit.ly 
6. Are all traders transparent
7. How can I track my trades
8. What is paper trading
9. How can I paper trade
10. Who is a good teacher to learn day trading from
And there are more. But I want to focus on these 10 questions right now as some basics for curious traders. 

What Are Penny Stocks

According to Investopedia : The definition  of a penny stock is a small company that trades at $5 a share or less usually on OTC Markets. For Further explanation click on the Investopedia link and scroll through the long definition for a more in-depth explanation. I love this website and learning different definitions that refer to trading. It is so easy to click around and get excited about the vast information available!

How Do You Trade Pennystocks

I use StocksToTrade to scan through the thousands of tickers. Then I can decide to buy or short sell a stock (shorting a stock is when you borrow shares from your broker and you decide to sell those stocks near the height of the stock and then buy the shares back at a lower price for a profit which pays back your broker and you pocket the difference.. now this is a very basic explanation). You can also buy a stock that you expect to increase in price and sell the shares at a higher price and you profit from the difference. 

How Do I Learn To Trade Penny Stocks

It is really easy to begin learning and it is up to you to stay dedicated long enough to make progress and see the light at the end of the tunnel. As Tim Sykes says, “This is a marathon and not a sprint.” Which means it can take years to become consistent with this craft. I have been studying for a year and practicing for a little over six months. There is a saying that you must practice something for 10,000 hours before you are a master. Well, I agree. You can start with the basics, I recommend watching ALL of Timothy Sykes YouTube videos and the videos of his successful students. Then you can choose your level of dedication after that. You can learn in many different ways. Also with books. The Complete Penny Stock Course by Tim’s Student Jamil Alluch is a wonderful book. You also need to know about Candle Stick Chart so Japanese CandleStick Charting Techniques by Steve Nison is very helpful. 

Does Day Trading Provide a Stable Income

There are good days and there are bad days/weeks/months. Nothing is garunteed in life nor in stocks. We have been experiencing a ten year bull market and it is only a matter of time before we see a market correction. What do I mean by this? If history has anything to show us is that the market can go up and it can come down. And from what I have been studying is that the market continues to rise and we are over due for a market correction/pull back. So is it safe to say that you can be consistently profitable any time by trading penny stocks? Well, 90% of traders lose. It takes years of hard work and dedication and unconventional rules to beat the majority of traders. How hard are you willing to work? There is no consistent paycheck with trading. The average millionaire has several streams of income as nothing is guaranteed; not even a state career. 

What is Profit.ly

Profit.ly is a website created by Timothy Sykes and his team to promote trader transparency. Why wouldn’t you want to track every one of your trades to find out if you are consistently profitable, what your strengths are, what your weaknesses seems to be, and which patterns you seem to excel at!? A lot of fake gurus (furus) won’t show you every trade, what their profits are, how much they lost, etc. They want to show you how amazing they are so you give them tons of money while they fail you. Well, profit.ly is a revolutionary website that hold you accountable, tracks your trades, lets you see other traders performance, you can contact them, follow them, write blogs, read blogs, create watchlists, and even make your own video lessons. There is so much more to the website that I suggest you check it out. You can find me on there at Tessa Lamping!

Are All Traders Transparent

I kind of answered this above as most traders aren’t transparent as they are embarrassed of their “failures”. They want everyone to think they are so amazing and never lose. Well, those who won’t accept their losses and learn from them can never improve their skills as traders. Like I said, transparent traders are the future. If you want to be a successful trader then accepting losses and sharing them with others not only helps you, but you can help others by showing them your mistakes. We are a wonderful community that is here to beat the market day in and day out. Why go against our fellow traders instead of being fully transparent and helping each other out. It is always great to be transparent as you hold yourself accountable!

How Can I Track My Trades

You can create your own spreadsheets like Tim Grittani, Kyle Williams, Steven Dux, and many many many more traders out there AND you can download every trade to Profit.ly . I love the statistics portion of the website. As you can see from the side of my blog my statistics chart straight from profit.ly. It updates every time I add my newest trade. It tracks the percent gains/losses, the profit/loses, and so much more! You can write notes on your trades while they are open and when you close them. You can have your trades broker verified and even upload photos to prove you trades. I definitely love this website and am completely transparent thanks to this revolutionary website!

What Is Paper Trading

Paper trading is a simulation from your trading software or stock screening software that simulates a real life trade but using fake money. This allows you to practice in almost real time so you can track your setups, your success, what to work on and everything else. I love using StocksToTrade for my trading software which has paper trading. This has given me unlimited practice at trading OTC and Listed stocks. I even have Level 2 access which I couldn’t trade without.  I HIGHLY recommend traders using paper trading when first beginnings and even when they are testing new strategies. This is very safe and doesn’t cost you real funds when testing your new abilities. 

How Can I Paper Trade

You can check with your trading software and see if it has a paper trading option or you can use StocksToTrade like I use which has everything in realtime and is the best stock screener. You will receive videos on how to setup your StocksToTrade software and then you can simply add your paper trading account. There are options to adjust the amount of paper funds you have access to to emulate a real account and you can add restrictions such as delayed and partial executions so it gives the “real” trading feel. Then when you become comfortable with this software and better advanced in your trading strategy, you can open up an account with your broker (make sure it is compatible with StocksToTrades broker integration options) and you can begin trading with real money. I love using this software as it even has red and green arrows that show when you buy and sell and how many shares are executed and the times and price. This software even allows you to write notes, customize many options, and has a bunch of indicators if that is something you are interested in. 

Who Is A Good Teacher To Learn Day Trading From

I always recommend my teacher, Timothy Sykes. I consider him to Original G of penny stocks. He is not the Wolf of Wallstreet who is in it just for the money and to scam other traders out of theirs like many fake gurus who promise you profits tend to do. Tim Sykes is a genuine guy, who loves his students and even created a charity called Karmagawa that builds schools, medical facilities, saves animals, and so much more! He is probably one of the hardest working people I have ever heard of and is such an inspiration to me and millions of others. Not only is he genuine at heart when it comes to caring for our planet, but he genuinely loves teaching. He has the most millionaire students that he created from scratch. He has turned haters into millionaire and six figure students. He genuinely cares about your success as long as you give him and his team an honest chance. Now don’t get me wrong… he is truly dedicated and with such passion for teacher comes a drill sergeant that pushes you to work. He creates millionaires and he only wants dedicated students that are willing to work their asses off! Do you have what it takes? Are you still inspired, motivated, and have a burning desire to have the best teacher ever? GOOD! Join his Millionaire Challenge or join what you can until you have enough saved to join the challenge. You will have to go through an interview that only a select few are accepted to join. Be prepared for penny stock bootcamp! 

In Closing

Thank you everyone for asking such wonderful questions! Keep asking me more on Instagram and Twitter @TessaLamping . Make sure to leave me comments below about any trading related questions! I hope you enjoyed the Super Bowl, enjoyed your study time, and I hope I have provided the answers you were looking for. I look forward to seeing you succeed and starting your journey! Cheers!

                                    (Do You Have What It Takes To Become Tim’s Next Millionaire)

I want to provide a small disclaimer:

I am in NO way a professional nor do I claim to be. I do not manage anyone’s money nor do I want you to follow my trades. My posts are solely for entertainment purposes and for myself to become more transparent on my trading journey. I use these posts to track my own progress. I do NOT recommend you try my strategy or jump into trading without a verified guru/teacher. I am an untrained trader who has been practicing for a few months and a few days with paper trading on StocksToTrade. I am up $7000+ since the month of June 27th, 2019. By the time you read this I may or may not have traded the stocks I post about. I will not guarantee you will profit from trading as 90% of traders lose. To become consistently profitable is not a typical result. I am in NO way responsible or liable for your decisions or actions as a trader. I, again, am not professional so there will be grammar and spelling errors. Just because I suggest something does not mean your results will be the same as mine if you try. My suggestions are what I am doing, have tried, and what may have or may have not worked for me. Also, make sure not to invest with anything you are not willing to lose, Cheers!

 Hello there, My Name is Tessa Lamping and 
         thanks again for reading my blog!

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