Michael Goode was my first millionaire student, getting there through a disciplined focus on short-selling penny stocks. Although he started as a skeptic, he still joined the Timothy Sykes Trading Challenge. He soon recognized the potential of my trading strategies for shorting overhyped penny stocks or “pump and dumps.” Michael’s steady approach and calculated performance helped him grow his account steadily, eventually reaching $2.6 million in career earnings.
His journey from skeptic to millionaire trader highlights the power of patience, consistency, and risk management in trading volatile stocks.
Read this article to learn how Michael Goode leveraged practical trading strategies to become a top penny stock trader!
I’ll answer the following questions:
- Who is Michael Goode and what is his trading background?
- How did Michael Goode achieve success in penny stock trading?
- What strategies does Michael Goode use to manage trading risks?
- How did Michael Goode’s initial trading experiences shape his approach?
- What are the key lessons traders can learn from Michael Goode’s story?
- How does Michael Goode analyze market trends and stock movements?
- What mistakes did Michael Goode make and how did he overcome them?
- How can new traders adopt Michael Goode’s proven trading strategies?
Let’s get to the content!
Table of Contents
Who Is Michael Goode?
Michael Goode began trading as a skeptic of penny stocks, doubting that significant gains could be made from trading these volatile, low-priced stocks. However, after joining my Trading Challenge, reading my blog posts and watching my DVDs, he started to see the potential for profitability in penny stock trading—especially through short-selling stocks that had been artificially inflated. With a background in finance but no prior trading experience, Michael initially encountered losses but used these experiences to refine his strategy. By focusing on a slow, steady approach rather than attempting big wins, he grew his account gradually, learning invaluable lessons along the way.
As my first millionaire student, Michael’s success didn’t come from lucky trades; it came from consistency and following proven patterns. He learned to study charts, volume patterns, and the psychology behind every asset in the portfolio, creating a foundation for long-term success. His disciplined approach, built on smaller, consistent profits, mirrors the strategies I teach to all my students, showing that long-term success in penny stocks comes not from massive bets but from disciplined, methodical trades.
Here we are, with my second millionaire student Tim Grittani (who’s now up to $13.5 million), on a boat:
Michael and Tim were my first millionaire students, but they weren’t my last. Others, like Kyle Williams, have discipline and hard work in common but found different trading techniques that work for their own minds. Kyle started his trading journey inspired by similar foundational strategies that include short-selling and volume analysis. His commitment to understanding market behavior and different kinds of data and financial information has allowed him to grow steadily, all the way to $5.5 million! For anyone exploring the markets — or even options, futures, or forex — with an interest in long-term, sustainable success, you should read two blog posts today…
Learn more about Kyle Williams’ trading approach here.
Is Michael Goode Legit or a Scam?
Michael Goode’s trading success is legitimate, documented and publicly available on Profit.ly, where he has shared his trades openly for years. This transparency is key for any trader looking to build trust, especially in a field like penny stocks, which often attracts scams and questionable practices. Michael’s record shows both wins and losses, reinforcing that real trading success is built over time, with a commitment to cutting losses quickly. His journey highlights that while big wins are possible, most profits come from consistent, smaller gains, an approach that is foundational to my teaching.
Michael’s transparency with his results has been instrumental in establishing his credibility within the trading community. By sharing his trades openly, including his biggest losses, he provides new traders with an honest perspective on the challenges and rewards of penny stock trading. For those wary of the hype that can surround penny stocks, Michael’s record offers a reassuring model of transparency, emphasizing that legitimate success requires both patience and rigorous risk management.
What Trading Strategy is Michael Goode Famous For?
Michael Goode is best known for his short-selling strategy, particularly in targeting penny stock pumps. He identified a lucrative niche by shorting stocks that had been heavily promoted and inflated in value. His strategy relies on monitoring these pumped stocks for signs of a price peak, then short-selling as the price begins to decline. Michael’s ability to identify these overhyped stocks and time his trades effectively has made his approach one of the more dependable strategies in penny stock trading.
Short-Selling Penny Stocks
Goode’s core strategy is focused on short-selling penny stocks that have been artificially inflated, profiting from their inevitable decline. He uses technical indicators and volume analysis to gauge when these stocks are about to peak, allowing him to enter a short position at a high and profit as the price drops. This approach demands patience, as he waits for the right setup rather than chasing every opportunity, a strategy I emphasize in my teachings on disciplined trading.
By focusing on consistency rather than large, high-risk positions, Michael has achieved a solid win rate, making smaller gains that accumulate over time. This approach has allowed him to avoid the major losses that can occur with large, high-stakes trades. For traders learning penny stock strategies, Michael’s method of short-selling offers an example of how steady, controlled trades can be more reliable than chasing massive returns.
How Did Michael Goode Get Started?
Michael Goode’s journey started with doubts about penny stocks, but his skepticism turned into interest after joining my Trading Challenge and witnessing the potential of the short-selling strategy. He faced losses early on, but instead of giving up, he took these setbacks as lessons, learning to improve his approach. Michael worked on mastering the psychology behind penny stock promotions, gaining a strong understanding of chart patterns and volume analysis. His success wasn’t immediate; it took time, patience, and a focus on continuous learning—principles I stress with all my students.
In his first few years, Michael’s progress was gradual, and he worked hard to gain consistency in his trades. He focused on penny stocks due to their volatility, refining his technique by trading smaller positions and carefully observing market behavior. Over time, he achieved success with these steady gains, demonstrating that a disciplined approach to learning and trading can overcome initial challenges and produce consistent profitability.
Here’s a disclaimer—although everyone can reach Michael’s levels of success in cryptocurrency, commodities, bonds, anything—greedy people must know that most traders lose! Review your old trades, pay attention to details, and make sure your trading platforms are up to spec…
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What Are the Early Trading Successes of Michael Goode?
Michael’s early successes came from his disciplined focus on smaller, consistent gains rather than large, high-risk positions. By carefully analyzing patterns and waiting for clear setups, he achieved steady growth and avoided large losses. This approach set the foundation for his trading career, leading him to eventually cross the million-dollar milestone and continue growing his profits.
Matthew Monaco is part of my second generation of millionaire students — he’s at $2 million and counting! Matt’s path showcases how a thoughtful approach to identifying high-potential trades, grounded in pattern recognition and strategic decision-making, can be replicated by traders at all levels. His work is a testament to the value of continuous learning and adaptation in trading. Readers seeking to broaden their understanding of penny stock trading will find Matt’s strategies both inspiring and practical.
Explore Matthew Monaco’s journey and insights here.
Which Stock Picks Are on Michael Goode’s Watchlist?
Michael Goode’s watchlist primarily includes penny stocks and other high-volatility stocks prone to promotional activity, which often makes them ideal candidates for short-selling. His focus is on stocks showing rapid price increases due to hype or artificial promotion, particularly those with high trading volume that can indicate an upcoming decline. Michael’s disciplined stock selection reflects his experience and understanding of the penny stock market, targeting stocks with clear signs of overvaluation or unsustainable price action.
In addition to penny stocks, Michael occasionally monitors other high-volatility securities, seeking setups where price action and volume trends indicate a potential reversal. His watchlist is built around preparation and analysis, aligning with my focus on studying patterns and finding high-probability setups. For traders learning to navigate penny stocks, Michael’s watchlist is an example of the importance of carefully choosing stocks with strong indicators for profitable trading.
What Is Michael Goode’s Net Worth?
Michael Goode has achieved a net worth of approximately $2.6 million, a testament to his disciplined, consistent approach to trading. By focusing on steady gains and avoiding high-risk trades, he has built a career that continues to grow through calculated, informed trading strategies. Michael’s success highlights that, in penny stock trading, wealth can be achieved with a disciplined, risk-managed approach, rather than through large, unpredictable gains.
As my first millionaire student, Michael’s journey is a significant milestone for my Trading Challenge and a proof point for the effectiveness of my trading strategies. His journey from skeptic to successful trader showcases the potential of penny stock trading for those willing to learn and apply structured methods. His net worth is an inspiring example for aspiring traders looking to turn modest investments into substantial profits through careful, consistent trading.
Trading isn’t rocket science. It’s a skill you build and work on like any other.
Timothy Sykes built his Trading Challenge to pass on the things he had to learn for himself.
Apply to the Trading Challenge here.
Trading is a battlefield. The more knowledge you have, the better prepared you’ll be.
Who is your favorite trader? Write “I’ll put in the work” in the comments if you understand how Michael got to where he is!
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FAQs About Michael Goode
How Old is Michael Goode?
Michael Goode is currently in his 40s, with years of experience navigating the penny stock market.
Does Michael Goode Have a Blog or Website?
Yes, Michael Michael runs a blog where he shares insights, strategies, and lessons learned from his trading journey. His posts provide practical advice for traders, particularly those interested in short-selling penny stocks, making his blog a valuable resource for those looking to understand the realities of trading. By sharing his experiences, Michael offers a transparent view into his trading journey, helping new traders gain knowledge from his successes and mistakes.
Does Michael Goode Have a TikTok, YouTube, or IG Account?
Michael Goode is active on Threads, but you won’t always find trading content there.
Does Michael Goode Offer a Course?
Michael Goode offers a course on reading SEC filings — get it here!
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