Steven Dux is Timothy Sykes’ greatest student success story for turning $27,000 into over $5 million in just 4 years. Amazingly when he started day trading volatile penny stocks, he was still completing his environmental engineering degree. It’s crazy how he managed to finish his degree and have enough time in the day to trade. His trading journey started when he discovered Tim Sykes from his controversial Instagram account. At first, he was skeptical but decided to sign up for Pennystocking Silver. After a few months, he took the plunge and paid $5500 to join the millionaire challenge program.
Dux is now one of Tim Sykes most successful students along with Roland Wolf and Tim Grittani. Due to his unique story, Sykes likes to promote him at every opportunity because he is someone who has implemented his strategies to become a millionaire. It’s similar to how companies use case studies to attract more customers. Sykes interviewed Dux on his Youtube channel to share his story and inspire new traders. Once the interview was uploaded, young aspiring traders bombarded Dux with messages hoping to discover his secrets. Asking everything from what penny stock broker he recommends to what he eats for breakfast.
The main reason for Steven’s rapid progression is his extreme dedication and willingness to invest time and money. Although he started off studying Timothy Sykes, he later learned a great deal from Michael Goode, Mark Croock and Tim Grittani, all mentors within the millionaire challenge program. He follows the teachings of Tim Grittani in particular and cites Trading Tickers DVD as a huge inspiration. Similarly to Grittani, Dux is very analytical and claims to have thousands of excel spreadsheets tracking dozens of chart patterns. This gives him the ability to discover what patterns work the best in a specific time frame. Basing all of his trading decisions on data allows him to stack the odds in favor. From the picture above of his trading desk, his attention to detail is immaculate. Steven stuck his notes and drawings of charts on his wall to drill these charts into his brain.
He mainly follows three simple chart patterns that have an insane 85% success rate. All of these patterns feature in Tim’s Penny Stocking Framework DVD.
- First red day – when a penny stock goes parabolic based on a big news event such as FDA approval, a stock can spike 200% in just a matter of days. You wait until the stock’s momentum slows down and short sell the company on the first day it turns red. This is a significant shift in momentum where those who are long will exit their position causing the price to drop.
- Dip buying huge morning panics – whether it’s an overall market or sector panic, there are always great opportunities to dip buy intraday panics. If a stock drops significantly in the morning and is oversold, it could bounce back strongly so you can capture a quick 20-30% gain. When dip buying panics you should prepare to cut losses short if the trade goes against you. Otherwise, it’s like catching a falling knife.
- Shorting spikes – this pattern is slightly riskier than the first two patterns so it requires more experience.
Since these three simple patterns have an 85% success ratio, Steven places big money into trades that meet his criteria and banks huge profits. This approach to trading is the polar opposite of conventional wisdom on Wall Street. Financial advisers tell people never risk more than 10% on any investment while this guy during the early stages was putting 80% of his account on one trade. Patience also plays a big part in his success, he waits like a sniper until a setup meets all of his criteria and then places the trade. If the trade goes against him, he cuts his losses early and avoids blowing up his account. Hence this is why his winning percentage on Profit.ly is approximately 70% with an average gain of $3,354.
Due to the large following Dux has attracted in recent times, there has been strong demand for him to create his own DVD and newsletter. Steven listened to his followers and decided to release his own DVD – Trader Checklist Part Deux sometime in February 2018. It will cost between $300 – $600 to purchase if he launches his service on Profit.ly. Starting an educational business is the next logical step to make easy money outside of trading. Despite the vast amount of money he has made, Dux remains a cool, humble dude. He recently achieved his dream and bought himself a McLaren 570S.
Steven Dux’s story continues to serve as a huge inspiration for up and coming traders but it’s improbable anyone will achieve similar profits. While it’s likely some will have success, the average person won’t be able to become a millionaire within one year without an obsessive tendency towards learning. He even jokes that he reads and takes notes on the toilet. In addition, he re-watches DVD’s multiple times to absorb all the information fully. A typical subscriber will watch it once or twice max. This level of dedication is difficult to maintain for the average person works a full-time job or attends college. In the meantime, if you’re interested in learning from Steven Dux, check out his webinars and free videos on Youtube.