Episode 47: The Complete Penny Stock Course
At The Steady Trade Podcast, we strive to educate traders in a variety of ways, so that they can enjoy long, sustainable careers as investors. As part of this mission, hosts Tim Bohen and Stephen Johnson occasionally interview movers and shakers in the trading field to offer insight and inspiration to listeners.
In today’s episode, Tim and Stephen interview Jamil Ben Alluch, a penny stock trader and author of the book The Complete Penny Stock Course. This revealing talk includes thoughts on successful investing, what it takes to make it as a penny stock trader, and yes, some discussion about Bruce Lee in autotune.
Jamil comes from an engineering background. He became interested in penny stock trading in 2014. Like many traders before and after him, he joined the Tim Sykes Challenge to further his education.
When he joined, he felt bombarded by all of the many manuals, DVDs, and resources which came his way. But he was a diligent student: he watched all the DVDs and pored over all of the study guides. While the material was all great and boosted his confidence as a trader, he felt it wasn’t organized extremely well.
This makes sense. After all, teaching the art of trading penny stocks is relatively new. Tim Sykes has been a pioneer and provides plenty of amazing information, but the delivery is ever evolving in ways that make the information easier for traders to absorb.
Even though he was a new trader, with his engineering background and years of school behind him, Jamil had a knack for organization. So, he decided to set himself to the task of organizing all of the information that he had learned in a more user-friendly way.
From newbie trader to author
For Jamil, the book actually started as a guide he was writing for himself as a clear-cut penny stock manual. He wanted a structural guide that he personally could follow. However, in noticing that other members of the Challenge were having similar trouble keeping up with the myriad of study material, he decided to release it to the public in book form.
In the interview, you’ll learn how Jamil organized the collective strategy of successful traders in a structured manner. The resulting book is brilliantly laid out: the chapters are short and easy to read, and feature clear-cut bullet points, summaries, and clearly convey information.
What are the key points?
Let’s make one thing clear: by simply reading this book, you won’t instantly become a successful trader. As Jamil says, “trading penny stocks does require a lot of dedication, patience, and hard work.” It’s not something that you’re going to master in a day. So what does he want some of the biggest takeaways to be? In the interview, they discuss several, including:
- Trading isn’t just about techniques; the psychology of trading is just as important.
- Why concentration, dedication, and emotional control need to be taken into consideration when you are trading.
- How to create your own rules and then stick with them; why trading plans are so important.
- While education is important to success, trading still takes time to master.
- Why repetition, routine, and consistency are key to finding success as a trader.
- Don’t try to build your money account. Instead, focus on building your experience account.
- Losses assimilate lessons; how and why failures are hugely important to new traders.
- What it takes to be successful in the market.
Taking the next steps
From there, they go into specifics about how to use the book to help improve yourself as a trader and Tim and Stephen talk about their favorite aspects of the book. You’ll also learn what Jamil’s favorite part of the book and what he considers the most essential trick to controlling and managing yourself during trading!
Ready to buy the book?
The book is available on Amazon, Kindle, iBooks and Google Play now, with the audiobook version coming soon! You can also check out The Complete Penny Stock Course website with material to complement the book and expand on the lessons.
Win a FREE COPY of The Complete Penny Stock Course.
- Record yourself asking a legit stock trading question to Stephen and Tim
- Email that recording to [email protected]
You should be able to do steps 1 and 2 all from your phone, but there are other ways to do this as well. The first 10 listeners to submit a legit question will win a free book. It’s as simple as that.
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