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Tim Grittani’s Simple Start Nets Multimillion-Dollar Portfolio

It was almost a decade ago when Tim Grittani invested his entire $1,500 life savings in penny stocks, betting on himself to do what financial advisors were always promising.

 

“I’ve been trading every single day for almost three years, and it’s been a slow, day-to-day process,” Grittani told CNN Money. “Investors in penny stocks should be prepared for the possibility that they may lose their whole investment.”

 

But that certainly wasn’t the case for Grittani. He was able to turn his initial investment into a multimillion-dollar portfolio, and it continues to rise every month. One single investment returned a $212,000 profit.

 

He has his own blog, Trade the Ticker, which details his success while offering tips and advice for those who want to follow in his footsteps.

 

Not that it was easy. His plan at the beginning was simple: He would follow the advice of financial analyst Tim Sykes and invest in what he called “long” alerts. He also ventured off on his own for some trades in companies that seemed appealing. It was all-in every time, so one mistake would be the end of it all.

 

“Emotions clouded my judgment, the physical act of having to enter trades slowed me down, and I was not coming nearly as close to matching Tim’s entries and exits as I had on paper,” Grittani wrote on his blog. “I had a very slow start, and by mid-month and the end of my college semester, I was down $150.”

 

He also discovered the frustration of the “daytrader” rule, where his small $3,000 account was restricted to three daytrades every five business days. It was clear he needed to make some changes. His parents loaned him $12,000 so he could set up better trades and he was eventually on his way.

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