Tired of Being Broke? How To Trade With A Small Account


– So in this video, we’re
gonna talk about trading with a very small account. (upbeat music) What’s up? Tim Sykes, Millionaire
Mentor and Trader here with, you know, my Q&A. It’s nothing fancy. I’m just wearing kind of like a wrinkled shirt,
answering your questions. That’s what it takes. Like, you just gotta be
real in this industry. And if you have a small account,
you have no other choice. Okay? You have nothing else to do
if you have a small account. You’re gonna have to get
started studying ASAP, not necessarily growing your
account in any big way ASAP, but starting to study ASAP. And for those of you who don’t really know English that well, ASAP means as soon as possible. It’s crazy to me that people
don’t have the right mindset. Then again, there’s so many fakes. There’s so many non-millionaires teaching. There’s so many newbies teaching. Frankly, I’m very fortunate not just with the money that I’ve made but now my 20 plus years of experience, so I’ve seen a lot of
different traders come and go. I’ve seen what works. I personally have made
several million dollars after starting with a few thousand. My top student started with 1,500. He’s now over eight million. So I know what works. And if you have a small account, by the way, leave a comment
underneath this video, do you think that you
have a small account? Yes or no. Or actually a better, no,
scratch that, better question: How much do you have in your account? Give me the exact dollar amount. Is it $500, $1,000, 5,000, 25,000, or zero? It’s okay. There’s no one right answer. I’m just curious to see what
you guys are trading with. Rule number one is cut losses quickly. I don’t care how small
of an account you have. You have to protect what you have. That said, how best you
protect what you have, well, it’s growing your knowledge. You have two accounts. You might not realize it. You have your knowledge account and you have your monetary account. Whether your monetary
account is $50, $500, 5,000, or 50,000, or 500,000, too many people don’t focus on growing their knowledge account. I think the best analogy I can make is if you’re trying to get fit and you’re just doing biceps
and chest every single day and you’re ignoring your legs. It’s all interconnected. Or your core, right? You don’t wanna work your core, you don’t wanna work your legs. Trust me, I have problems with that too. But in order to be the healthiest, you have to do an all-around workout. You can’t ignore your legs and you cannot ignore growing
your knowledge account. In fact, you should be focused on growing your knowledge account first. So my number one tip right now, yes, cut losses quickly
when you’re trading. But even before trading or if you’re paper trading
using stocks and trade software, click the link below
for an exclusive offer. We’re gonna give that to you as my little thank you for studying. But, number one tip is
to cut losses quickly when you’re trading or paper trading. But even before that, number one tip is to grow
your knowledge account. I’m not that organized. Number one tip, number one tip. They’re both important, okay? Grow your knowledge account. Study the past, study the
patterns, study the rules so that when you are risking
your hard-earned money, you are prepared. That’s it. I get a lot of messages from people saying Oh, Tim, c’mon, you’re
just selling the dream. You can’t really grow
a small account fast. Yes, you can. Every year I go back to $12,000, specifically under the PDT rule. The PDT rule limits you to
three day trades per week although you can take a trade
overnight every single day. It’s just day trades. If you focus on the best patterns using your knowledge account, using my study guides, DVDs,
webinars, video lessons, then there is more than
enough time to focus on the best place and grow
your account substantially. I know past performance is not
indicative of future returns. Penny stock trading is risky. Day trading is risky. Short selling is risky. Life is risky. But, when you have a small account, you don’t have any other options. What are you gonna do? Invest in a mutual fund and you’re $1,000? After several years, it
might grow to like 2,000? That’s not a lot of money, okay? That doesn’t buy you
anything in the real world and frankly, wastes a lot of time. What are you gonna do? Invest in, you know,
some individual stocks? Even if you pick a big winner
like Apple or Facebook, maybe you triple, maybe you quadruple, so you’re 1,000 goes to $4,000
in that best case scenario. How do you grow $100, $500, 1,000, 2,000 into 10,000, 20,000, 50,000, 100,000, a million? Is, you know, my track record just fake? Are all my top students
just getting lucky? No. It comes down to being
meticulous with strategy. You take one trade at a time, you aim and trade like a sniper, like I say in too many video lessons, and you try to grow it. Let’s say you have a $1,000
account or $2,000 account, on your first position, maybe you should be using two, $300. That’s it, right? Start small. It’s okay. The money that you make or lose in the beginning is negligible. My top student, as I mentioned, has turned 1,500 of his own
money into over eight million. He made nothing. Goose eggs for nine months. So, if arguably the best penny
stock trader in the world makes nothing for nine months, how do you think you’re gonna
do in your first nine months? I need to get you thinking correctly. Going back to my example
’cause I have ADD, if you put in two or $300 into a trade and hopefully I prepared you
to focus on the best trades where there’s 20, 30,
maybe even 40% upside in a few hours or in a
few days, guess what? With the $300 position, let’s say you make 20%, right? $60. After commissions, $50. That’s a good start. Then you do it again and again and again. Maybe you make 50 on this one. Maybe you make 30 on the next. Maybe you lose five or $10
’cause you have to follow rule number one: cut losses quickly. You’re gonna lose sometimes. I’m not perfect. None of my top students are perfect. But at least, start the process, okay? It’s not even about
the money that you make when you’re first beginning
with a small account. It’s getting the education,
growing your knowledge account. You might only grow your monetary account by like 30, 40, $50, but you’re growing your knowledge account. You might even lose
five, 10, $20 on a trade in your monetary account, but you’re growing your knowledge account. Your knowledge account keeps
growing the more that you do. That’s kind of a cool thing. You might lose in the
stock market monetarily, but even when you lose, in fact when you lose, it’s
often the best lessons. You learn what not to do. You learn to be more conservative, maybe cut losses quicker next time, maybe think about a few more indicators. But your knowledge
account is always growing. So the sooner you start learning now, like literally right now,
after you watch this video, be like oh wow, Tim, I finally get it. Maybe this one analogy
pushes you over the edge. You start growing your
knowledge account now whether you’re practice
trading using Stockstotrade, remember to click the link just below, whether you’re trading
with a small account, a $500, $1,000, 2,000. E-Trade is one of my preferred brokers. They allow accounts to be open for $500. Interactive Brokers is a few thousand. But whether you’re making
a little or losing a little or just paper trading, at least start growing your knowledge. Get experience and take
careful notes, okay? People ask me: What do you need to do to
really grow a small account? Is it just amazing hot picks? You have to get lucky? No, you have to be meticulous
and you have to treat this like the process in the
marathon that it is. This is not a sprint, especially when you have a small account. You’re not gonna grow $100, $500, $1,000 into a million anytime soon. Tim Grittani made his first
million in three years. There is a whole CNN article. I’ll post the link just below this video. That was actually a really good article. CNN looked at all of his
trades, and that story blew up. 1,500 into a million in three years. But understand that the
majority of his gains happened during his second and third year, not his first year, so I need
you to have the right mindset. I hate getting emails from students who have the wrong mindset. They’re like oh, I’ve been
studying hard for three weeks and I’m just not getting it. And I’m like, yeah, ’cause
you’re just starting. You’re growing your knowledge account. And if you’re just starting with literally zero
knowledge, that’s okay. So many people message me, they’re like oh, do I
have to be good at math, do I have to know about corporate finance? No, you don’t need to know any of that. Tim Grittani worked as a
State Farm agent, okay? And he was in khaki
pants selling insurance. He hated it. He studied hard. He made nothing for the first nine months. And then even month
10, month 11, month 12, he wasn’t making millions. He’s making maybe 500, maybe 1,000. You can see all of his trades. They’re all public. That’s the cool thing about
me and all my top students. We are all totally transparent. We share every single trade that we do. Why is this so important? Because there’s so many
fakes in this industry. This is why 90% of traders lose. They don’t have the right information. They don’t have the right mindset and they don’t have the right guidance. I never had a teacher. Remember this, okay? I taught myself everything and I don’t want that to be your life ’cause frankly, I have worked
too hard to get the knowledge, to get the money, to where I am now. But you can get the
knowledge and get the money to where you wanna go
quicker using my lessons. And I know I talk fast. If you have to watch this video lesson or all my video lessons
a few times, that’s fine. But you gotta start growing
your knowledge account ASAP. I’m sorry to be so persistent in that. I know you just want hot picks. But I have to take away all
of your degenerate urges where you just want hot picks. You want hot alerts. You want the chatroom. Listen, the chatroom is useful. We have a thousand plus
traders in my chatroom, which is very good for
trade idea generation, but you can also use stocks to trade. That has 40 plus of my scans built in, so you can learn exactly what stands, what setups work the most. So you have multiple options here. But you gotta get started
as soon as possible. Not necessarily trading
as soon as possible. This is a very subtle
difference, but it’s important. People say, oh, I’m just gonna do nothing while I’m saving up and I’ll
come back to you in six months. No. You will be hurting
your knowledge account. Start studying ASAP. Read the complete Penny Stock course. I’ll post the link just
below this video too. Look at all of the links, okay? This book was written by my student Jamil. It covers all of my
favorite rules and patterns and lessons that we’ve learned. And frankly, he was like
Tim, you’re disorganized. You have lessons everywhere. Let me put it all in one book. And he did that. And now it’s become a gigantic bestseller. So that’s a good option. We have books, we have software. I have video lessons. But you have to have the right attitude. I can’t do that for you, okay? This is why I make video lessons like this because I’m gonna send
this video to everybody who says I have a small
account, what should I do? You need to focus on growing
your knowledge account ASAP. If I can drill that into
your head, fantastic. And then also, understand
that it takes time. You have to see a hot play,
you have to see a supernova, you have to see a hot sector
again and again and again. And usually, by the third or
fourth hot sector that you see, you start to see that the patterns repeat. But in the beginning, you just see stocks up
50, 100, 200% in the day and you’re like (speaks
in foreign language). (speaks in foreign language) It’s very scary, okay? We’re trading the most
volatile stocks in the market. I understand the majority of the world hates on penny stocks. But this is the beauty of being real. This is why I can wear a wrinkled shirt and wear my hat backwards. I can do whatever I want because I’ve worked my
butt off for 20 years. I grew my knowledge account enough to grow my monetary account enough and now, frankly, I’m
living the dream life. After this, we’re gonna go, go out in my Rolls Royce I just bought, freaking living the life here in Miami. Are you excited for that, Master P.? – [Master P.] I am ’cause I wanna drive. – Yaaahhh, calm down. You gotta grow your
knowledge account first too. If you’re gonna drive my
cars, you better know how. Have you ever driven a Rolls Royce before? – [Master P.] Never drive.
– No, so exactly. You’re not gonna drive. And this is the same thing. Driving cars, especially expensive cars that you’ve never driven
before, it’s very dangerous. Trading is very dangerous. But you gotta start learning
as soon as possible. There’s no way they’ll drive a Rolls Royce or my Lambo or Ferrari or McLaren to practice it without risking the entire quarter of a million, 300,000. Some of my cars are $400,000. It’s very, very dangerous
if something goes wrong. With trading, a lot of you
guys with small accounts, you look at it as a bad thing. You’re like ah, I can’t wait
to have a bigger account, then I can make real money. Be grateful when you have a small account because you don’t have much to lose, okay? You’re starting from the bare bottom. When someone tells me a very sad story, they’re like oh, this
happened, this happened, this happened, it’s so sad. I’m like well, there’s
only upside from here. That’s how you have to look at it. And there are actually
benefits with small accounts. You can go in and take trades that people with big accounts can’t. You can make a quick 10,
20, sometimes 30 or 40% with a small dollar amount
as opposed to somebody with a million or $10 million account. They can’t take that and move the needle much on their account. Literally, if you catch one of
these high-flying supernovas that have been spiking 100, 200, sometimes even 500% in a day, you can actually grow your
account substantially. I know it’s not a lot in the
beginning monetarily speaking, but it grows your knowledge account and if you can grow your monetary
account at the same time, that’s win-win. But understand that your knowledge account has to be just hitting
lessons, lessons, lessons. So even if you lose seven trades in a row and you lose $10, $20, $50, $30, and you’re like I can’t do anything right, even while you’re losing, you’re growing your knowledge account. And I know it’s not fun,
I know it’s frustrating, but that’s how you have to look at this. You’re paying market tuition, okay? So you can either learn the
hard way all on your own or you can cut down your learning time and learning curve with me and my lessons. I’ve been where you are at, okay? I’ve been under the PDT rule. In fact, I’ve put myself
under the PDT rule every year. As we’re filming this in, what is it, three months into the new year, I went back starting my $12,000 account, which I do every year and
I go with a small account just in order to specifically to teach and I donate all the
trading profits to charity, but that $12,000 account
is up to like 18,800. So a little over 50% in three months. And I’m not trading perfectly. I’m still traveling. I’m still losing sometimes. But I like showing you
these outsized returns. And I’m not saying that you can necessarily
make 50% in three months. This is me after 20 years, after my knowledge account
is freaking, you know, my knowledge account is solid, okay? Like it’s on steroid, because I’ve been learning
for 20 plus years. More important than how big or small is your monetary account, how big or small is
your knowledge account? And when you’re first beginning
your knowledge account, it’s usually zero. That’s okay. You can still learn. You can still get better. But you gotta be focused and you gotta have the
right understanding. That’s what this is all about. Leave a comment underneath this video. Let me know what you think. Hey, Tim Sykes, Millionaire
Mentor and Trader. Thank you for watching my videos. I hope that they help you. I wanna share everything that
I’ve learned over the years. You can check out more
videos right over there and also click Subscribe
so that you can watch all of these videos, get that knowledge, and become my next millionaire student. (bright music)

90 thoughts on “Tired of Being Broke? How To Trade With A Small Account

  1. Do you think size matters when it comes to trading? Leave a comment and tell me about the biggest lesson you’ve learned!

  2. Putting whatever money I can afford into my account until I have at least $1500, I have $400 in there now, paper trading and studying until then. 4 months into my journey.

  3. I started off with a small $2000 account, and grew it up to a $4000 account but im still trading it as if its a $2000 account. Especially while im still learning and growing my knowledge account. Only been 4 months for me trading full time, after 6 months of studying and I know I've still got allot to learn so im just grateful to not have blown up by now #tradelikeasniper

  4. I just started with traditional stocks and have 1,000. Swing trading crypto was my only previous experience of trading before this… I'm about to go all in on trade in like 15 minutes… cuz your student Roland did it… here goes nothin!

  5. Thanks Tim, I needed this exact video to keep from procrastinating while I saved up some money!

  6. i have $1300 and more in my account i like have an example of trade on paper trading and enter and exit and just getting out trade when go bad, and a better practice of trading tim sir.

  7. Trading and learning with SOME money is better than paper trading. In crypto, the fees are based on a fraction of a percent. You literally can start with $50-$100. Personally, I recommend $1,000-$2,000… it provides enough pain on losses for most people to learn from.

    Losing $25-$200 hurts for most beginners with few $$$. No pain; no gain. The human brain is a massive feedback loop and learns especially well from pain! I know, myself…. My positions are smaller now so when I lose, it's not a big loss that mortifies me.

    I am shorting Bitcoin since $10,430. If I lose… my loss will be about $25. But Whales are gonna DUMP on that BiTCh hard this Fall. Too many NBA stars excited to invest. LOLOL!!

    The benefit to trading small, too, is it frees up anxiety so you can focus on studying more. If my trade is too big, I am only thinking about the trade all day long. It's very distracting.

  8. 2200$ Interactive broker's…. If I can make 50$ a day to avoid stocking boxes i'll survive and that's all my poor ass need's lmao

  9. Im completely new just have a sense of some terms and understanding. I want to do something with my life and really excited. Been self studying alot. But i’m reaching out for more guidance. [email protected]

  10. $780 i started with $1005 in my account but i opened it 1 year ago and the fees from not trading and real time data are hurting my account its fine tho im still learning

  11. I'll be starting with a $4000 account at least come January.
    Until then it's studytime and paper trading time.
    Taking your advice Tim by doing at least a month of paper trading, going into real trades with small positions and thereafter going in with only $1000 or $2000 per trade.
    Sensei Tim 🙂

  12. I’ve yet to pull the trigger and practice paper trading with OnDemand yet, but if I were to actually begin to practice I could begin with $5k-$10k depending how well my reads would be.

  13. Currently just under $1000, Ive got a plan in place so that i will have enough money to get started by the beginning of next year. Ive been growing my knowledge account for over a year now, so i definitely feel like im ready to start running this marathon. Good vid as always Tim!

  14. $3000 in my E Trade. It's my knowledge account i'm worried about. Watching your vids at work! GROWING!

  15. I have zero in my monetary account. Every single day at work I work on growing my knowledge account. I'm doing something a little unorthodox because I cant be on my phone all day at work. What I'm doing is studying stocks and mentally making trades just to see if I made good picks or still need to learn. About two months ago I really wasn't in a good position to be trading, I made 3 mental picks over a month and the stocks really didn't do what I predicted theyd do, in fact I would've done horrible things, so it was back to studying. Over the last two weeks I studied a few stocks i picked and watched them closely (when I could). I did well with two as far as predicting how they would move. I feel like I'm making progress, but I still have a long road ahead. This may not be the best method, but I feel like it's really working for me as far as being able to go back and see what I did wrong, or what I did right. This is pre season, I'm adjusting my lines (I'm a hockey fan) and seeing what works and what doesn't.

  16. All I have in my account is $1700.00 now. Just adding to it until I make $5000.00 or $6000.00 then I want to start trading)))

  17. Love the video Tim I have $4000 saved up to trade but I'm scared to trade I want to learn before I dive in.

  18. I have a $100 account right now, but i've been studying and paper trading since June to some success. One thing that i've learned are that i'm currently a better short seller than I am a long seller, but i'd like to improve my skills going long here in the near future though. I also have found that I have more confidence in trades that i've taken here recently because of videos like this and journaling my own trades to see where I make mistakes.

  19. Just got 2000 but in my country Divide that by 7 and its nothing sigh 😭,but the education is important

  20. After some trades I endet up with 40,12€ in my trading account 🙂 I hope that changes soon haha god bless you

  21. Started with $3500.00, and now have $ 4889.00. After watching How to make Millions DVD, it put me on the right track..
    Thanks to you Tim Sykes..

  22. Started at the bottom working my way… study, study, study, paper trade, paper trade, live learn, learn some more, then trade real money… have more lessons and learning, soak it up… get better , be better, suck less! Till I get it! Never give up ..never quit!

    -serf

  23. Trading accts all 0 had some lost 10 on 500 but pulled it all and began studying 6 mo ths ago

  24. Tim great content, you are absolutely right 100%. Can i ask you besides my initial starting investment of $2 – $3k what else would i need to pay for to become one of your students, per month i mean?

    STT = $150 per month , what else do you pay per month?

  25. Will someone ask this guy why the phone number to “Millionare media” goes to some chicks voicemail in New Haven CT and the mailing address is in Miami??

  26. Wow Tim great video I'm a huge car person I would love to come see your cars in Miami hit me back I will be in Florida next week your friend and newbie student Rico:)

  27. Started with 1k in January. End of June I had 9k end of July I had $84. Took a breather and hit the books and since then I have not made less than 9% total on 1-3 day swing trades only per day. Slowly growing the bank and the mind again.

  28. $3000 with 2x buying power a total of $6000 overall.

    I won’t trade until I feel like I’ve gained enough knowledge to place the best trade possible.

  29. Great way to look at losing, there is ONLY UPSIDE for you if you look at it that way. Awesome point TIm and the videos are always appreciated! Thank you big time man!!!!!

  30. I have nothing but time at this point
    Got sick had surgeries barely made It out of that experience with my house but I will learn while I put some money away FML

  31. $100 WeBull/ $108 Robinhood and a paper trade account on WeBull. Growing that for a TD account. Would like to aave up for stt and Silver.

  32. I started out by reading Stock Investment for dummies and reading a few Motley Fool pages. I just watched this and they say what you say, to learn and get started. I opened a E Trade account with $1000 and then added another $500. Its been a few months and Ive seen it go up and down. Now that I am here I feel the need to watch more of your vids. The lesson I learned, Don't worry about losing some to gain more.

  33. I started with $100, at begin of August, with Robinhood, I am now at… $4500 (added $4000, i decied i can do this if i take it nice and slow). with $500+ gain, in my first month trading. on Robinhood/Webull. =) taking it slow, and been consumption of youtube videos

  34. Preparation + Opportunity = Success

    "Knowledge and self-sufficiency are critical to my success in penny stocking."

    https://profit.ly/guru/timothysykes?aff=11819

  35. Started with $3000, grew it to $4200, then took huge loss ending at $3100 and now at $3600.

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