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10 Lessons From Student Who Just Passed $100k In Profits

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Written by Timothy Sykes
Updated 6/15/2017 8 min read

Nothing gives me more gratification than one of my Trading Challenge Students hitting that whopping $100k mark** (or, in some cases, like this and this, even more)!

Because the strategy I teach aims for singles, not home runs, the key is having lots of little gains add up over time so that when you make six, or seven, figures, it’s not a fluke.  It’s a very meticulous strategy that’s all about trading like a sniper as I outline here. And, whether the student begins with just $1,500, like this guy, or $27,000, like this guy or maybe even $50,000, like this guy, when you learn to grow your account exponentially, it’s ALWAYS the result of lots of testing, studying, paying attention, hard work, perseverance and…lessons learned.**

And, when my students win, I win and together we inspire the next Trading Challenge Student to either get in the game, step up their game a bit or simply get the proper mindset with a winning and positive attitude…no negativity or BS allowed these days.

So, just weeks after I announced that this dedicated student had passed $100,000 in profits, meet my latest six-figure profit Trading Challenge student, Roland, a dedicated student who just hit $119,000 in trading profits, every trade detailed here.**

I asked Roland to share with us 10 basic lessons that helped him to get to $100k, so the rest of you can see the path and hopefully follow it with a few tweaks of your own.**

This is what Roland came up with and I’m hoping you’re paying attention because these lessons are SOLID:

#1 Put Your Education First!!!!!!!!!!

Before entering the market and risking your hard-earned money, it is vital to invest in your education. It is so easy to fall into the trap of wanting to just jump in and trade, as there is nothing to stop you from opening a brokerage account and trading.

Unfortunately, without first gaining the necessary knowledge on all of the different variables which determine whether you will be consistently profitable, your chances of success are slim to none (remember that a majority of traders lose). It is better to learn from the mistakes of seasoned and successful traders than to let the market teach you those lessons the hard way.

#2 Be Disciplined!!!!!!!!!

As a trader, you have no one telling you what to do, or how to do it. Because of this, it takes an enormous amount of discipline to experience success. You need to have the discipline to study and prepare, late into the night and early morning at times (weekends included). You need to have the discipline to wait for the proper trade opportunities, cut losses quickly and to control your impulses.  Trading is hard, but being disciplined will give you a much better chance of succeeding in the long run.

#3 Patience!!!!!!!!

Patience is a virtue, and it is a definite necessity in all aspects of trading. It takes patience to get through a difficult learning curve, full of losses and setbacks.  It also to takes patience to wait for the right set-ups, and then after entering a trade, to give it the appropriate amount of time to develop (if the chart and price action permit). I still struggle with this at times but am working hard on exercising patience, especially when it comes to respecting my risk levels.

#4 Strive for Self-Sufficiency!!!!!!!

Becoming a self-sufficient trader should really be one your first goals. I admit that when I first started trading, I would impulsively buy Tim’s picks, even though he specifically said not to. My results with this ill-advised strategy were terrible, and I learned quickly not to do it. Instead of trying to get hot picks, you should really be focusing on how to identify potential runners on your own. It is vital to strive for self-sufficiency and to develop the skills that will give you longevity. You will know you are on the right path when you are able to identify set-ups and good trade opportunities, without the assistance of a guru or chat room.

#5 Cut Losses Quickly!!!!!!

This is Tim’s #1 Rule for a good reason. There is no sense in letting one loss wipe out weeks or months of gains. That can be demoralizing and debilitating for any account, large or small. Cutting losses can be difficult, as no one likes losing or admitting that they are wrong, myself included. But, I have always taken this rule to heart and continue to cut them as quickly as possible (sometimes too quickly). I’d rather cut my loss too quickly and see a stock rip back up, than not cut at all and watch it tank. Having trouble cutting losses? Try closing your eyes while you sell or cover! This may be #5 on my list, but it’s #1 when I trade.

#6 Lock in Profits!!!!!

Locking in profits goes hand in hand with cutting losses quickly. Trading can be difficult, so if you find yourself in a winning position, be sure to take the gains while you can. I can’t tell you how many times (especially early on), I was up on trade, but wanted the Grand Slam home run and then watched as my profits diminished to nothing. Since focusing on hitting singles, my results have been so much better.  I aim for singles and lock in profits early. This then allows me to be much more patient and less emotional with any remaining shares that I decide to hold onto.  It is much easier to trade with house money, than your own!

#7 Focus on Preparation!!!!

As with any profession, good preparation can be the difference between success and failure. Trading is no different. I used to get up 30 minutes before the market open, stumble to my computer and then, with one eye opened, try to get my bearings and see what’s “hot.” My results during that period reflected that clear lack of preparation. I now spend several hours a night researching, studying and devising plans for possible trades in the morning. I then wake up hours before the market open, review my plans and I am ready for whatever the market throws at me before the bell rings. Preparation is key and has certainly been a crucial part of my success up to this point.

#8 Stay Humble and Eager to Learn!!!

Though I’ve experienced a bit of early success, I still look at trading as though I was a complete novice.  This keeps me humble and hungry to learn as much as I can, as often as I can.  We are truly lucky to have so much information at the tips of our fingers, particularly in an environment like Profit.ly, and in the Trading Challenge, where we are fortunate enough to be able to learn from elite traders like Tim Sykes, Tim Grittani, Michael Goode, Steven Dux, and Mark Croock. Take advantage of it!

#9 There is No Magic Formula!!

The markets are constantly changing, so as traders, we must also change to adapt to market conditions. It is so important to continue to evolve and avoid being reliant on any one strategy.  I am continuously looking for strategies and set-ups that will give me an edge in all different types of market environments. Trading is not an exact science, so don’t treat it as if it were.

#10 Attitude is Everything!

I believe this to be true in anything you decide to do in life. With the right attitude, anything is possible.  I think this an extremely overlooked quality to have, especially as an aspiring trader. A good attitude and mindset will help get you through the difficult times, and will also keep you humble through the best of times. It will give you the ability to shrug off the bad trades and to learn from them, rather than morbidly obsess about them. The proper attitude will help you cut losses or take profits if need be.  It will get you through that last hour of late night weekend study and analysis. You may not be able to control the markets, but you can control your attitude, and ATTITUDE IS EVERYTHING.

WOW, how awesome of a guest post was that? Please leave a comment below and congratulate Roland, not just on his trading profits, but also on his knowledge and attitude, which you can clearly see throughout this blog post is solid.

So, congratulations and thanks again Roland, for sharing what’s made you successful and for adding to the ever-populated Trading Challenge Student pool with your $100k+ in trading profits.** We’ll be watching for you when you add another zero to your profits as is inevitable when you keep grinding every day and sticking with this positive attitude/work ethic!

How much has this post helped you?

Leave a reply
Comments (99)
Matthew46Jan. 18, 2021 at 3:50 am

Thank you Guys!!! All great lessons and still studying hard!!!!

Vic sieverAug. 07, 2017 at 6:45 am

Awesome points Roland and congrats….just watched your video as well and you are well on your way!! GOD bless brother.

MyraAug. 06, 2017 at 7:55 pm

Congratulations Roland!! Thank you for sharing, I wish you more great success!

Carolyn M.Jul. 27, 2017 at 1:50 pm

Congratulations Roland and thanks for sharing your story. It’s a learned lesson that I will follow.

Mitch BromwellJul. 20, 2017 at 8:22 pm

Thanks for sharing your story Roland,
And Congratulations on your achevements
Keep up the Great Work. 💹

Matt BargerJul. 12, 2017 at 11:19 pm

Congratulations and way to go Rolandwolf!!!

Lehwelere RamphisaJul. 08, 2017 at 1:08 am

Amazing man !!! Thanks for the good tips

ANDC5Jul. 07, 2017 at 12:11 pm

Congratulations and great success Roland, post like this one inspire me to do better on my learning process of becoming a day-trading professional. right now I’m a newbie but I am doing exactly what you said on the first two posts putting my education first and being patient learning the process of becoming a great day time Trader.

Ps. Roland on the last live webinar that Tim Sykes from Italy he mentor the brand name of the laptop that you use but I didn’t catch the name can; you tell me what is the name of that laptop that you use because I would like to purchase one for myself…… can you shoot me an email with that information please thank you

CalJul. 05, 2017 at 2:03 pm

Great work Roland.Congrats on hitting the 100K mark, and thanks for showing us the way in which you achieved success.

Daniel KorieJul. 04, 2017 at 11:12 pm

Well said and congratulations man. Hard work surely pays off

Ronnie DeclerckJul. 04, 2017 at 5:24 pm

Attitude is everything…mindset leads to success or failure…in all endeavors…Adaptability is key to market changes…this is a great checklist for what stock trading requires of everyone…thanks!

Adam EvansJun. 30, 2017 at 10:26 pm

Fantastic Roland,

Your message and structure really help to sum up the basics.


TylerJun. 29, 2017 at 7:24 pm

Congratulations Roland! Keep grinding

sue sgaggeroJun. 29, 2017 at 12:04 pm

Amazing post. Study is very important to learn the patterns. Patience, cut losses, take gains, and focus on the trade you are going to make. Congratulations on your gains

William BurchJun. 29, 2017 at 9:03 am

Congrats Roland!!! Well said, Thanks for the comments

Suzie ShottenkirkJun. 29, 2017 at 8:47 am

Thanks Tim and Thanks Rowland! Congrats Rowland and great job 🙂

AnthonyJun. 29, 2017 at 6:35 am

Congratulations Roland and thank you so much for sharing excellent advice I just started studying about a month ago am not going to jump in without the knowledge first maybe in a month or 2 anyway thnx again and keep on learning and inspiring some year I’ll be where you are

ROHITHJun. 29, 2017 at 6:34 am


UMESH TRIVEDIJun. 29, 2017 at 2:26 am

congrats ronald its so amazing …timothysykes sir i learn all of ur homework now time for take interview ..i was waiting last 13 days plzzzz fast sir
regards ,
umesh trivedi from INDIA

Cameron MabeyJun. 27, 2017 at 10:37 pm

Congrats Roland!! You’re showing us what is possible with the right dedication and mindset, keep up the good work man!

NancasoneJun. 21, 2017 at 7:25 pm

Well said. Congrats Roland!!

Tshepo MolokwaneJun. 21, 2017 at 2:49 pm

Too dope….trade like a ninja I say

Frank MogaveroJun. 20, 2017 at 6:32 pm

Great post Roland. I’m looking to get into the challenge myself, interview scheduled soon and this post was a great inspiration.


AmberNinjaJun. 19, 2017 at 9:53 pm

Congrats Roland! 🙂

Donna GroomJun. 19, 2017 at 12:09 am

I think it’s just wonderful, Roland. Congratulations! I am still studying and reading. I am new and a little scared. I haven’t made one trade yet! You inspire me to continue. I will get there slow but sure. Thanks for sharing your thoughts and I wish you continued success.

SpaceBoundTJun. 18, 2017 at 3:50 pm

Congratulations Roland! Keep up the great work!

NatalieJun. 18, 2017 at 1:54 pm

Congratulations and great lessons !

Jo AnnJun. 18, 2017 at 1:08 pm

Awesome tips Roland, thx for sharing vital tips that has successfully helped you early on in your trading journey!
Congratulations 👏🏽👏🏽

tomfinn92Jun. 18, 2017 at 10:10 am

Congrats, Roland, and great top 10 list!

Anthony FloresJun. 18, 2017 at 9:04 am

Thanks u Roland and good job on this post! I learn something new every day!
Congratulations Roland and good luck;)

Timothy SykesJun. 18, 2017 at 9:20 am


Robert PriestJun. 18, 2017 at 6:23 am

Congratulations to Roland.

Tim, I am presently in correspondence with Rich Van Orden from your site. I wish to buy a DVD. He has written that I can send my bank details over by e-mail so I can purchase the DVD. I have never paid for anything by that method before. At the risk of sounding naive, is this way of payment standard on your site? I would like to get confirmation before I hand any money over.

I appreciate all the work that you do.

Timothy SykesJun. 18, 2017 at 9:20 am

Nice, you can trust Rich, he’s on my team

Barney HeslopJun. 17, 2017 at 8:00 pm

Congratulations on reaching $100K Roland and thanks for sharing these 10 Lessons.

Timothy SykesJun. 17, 2017 at 8:01 pm


AnneMaritaJun. 17, 2017 at 10:32 am

Congratulations Roland! Great accomplishment! You work hard, you get it, you believe it – and it’s easy to see that you are doing all that. Proud to be part of a group like this!

Tom WashingtonJun. 17, 2017 at 9:13 am

Thank you for the great info Roland and congratulations …u da man :-))

EdwinJun. 16, 2017 at 10:12 pm

Congrats Roland!

FredJun. 16, 2017 at 9:32 pm

Thanks Roland for that great story and how you reached your goal, step by step, just following Tim’s and many of the other teachers ideas and strategies. I’m sure we will be hearing from you in the future!

Sara aka bankatronicJun. 16, 2017 at 8:26 pm

Congratulations, Roland, on achieving that milestone!!! Excellent work and a very well written outline of all the important aspects to focus on while pursuing this mastery! I admire your fervor and discipline & thank you for taking the time to give us your perspective & highlights of exactly what is needed to achieve this very cool skill! Thank you & Namaste ALL DAY- EVERYDAY! 😀

Claudia MontoyaJun. 16, 2017 at 4:51 pm

Congratulations Roland! Great lessons!

DNNJun. 16, 2017 at 1:50 pm

Hey Timothy,

I’m happy you mentioned putting your education first. Why? It’s good to have a college degree to fall back on know how to do something you’re good at, such as affiliate marketing, WordPress blog coding, search engine optimization, cooking, running a business, and so on. But some things you can’t learn in the college classroom and can only gain from life experience. Nevertheless, i still advocate taking your butt to college and getting that degree and going beyond the Bachelor’s to achieving an MBA, Juris Doctorate, or Ph.D.

Bravozulu76Jun. 16, 2017 at 1:25 pm

Congratulations Roland on your accomplishment and thank you for sharing your experience with us.

JustinJun. 16, 2017 at 12:13 pm

Congrats Roland! Keep it up and thanks for the words of wisdom.

C.J. ScottJun. 16, 2017 at 9:55 am

Congratulations Roland! Yet another successful trader that is inspiring me to get the ball rolling and reach my life goals 🙂

WilliamJun. 16, 2017 at 9:48 am

Fantastic ! Congratulations Roland great bullet points so right on the mark

Joseph WilliamsJun. 16, 2017 at 9:26 am

Congrats Roland!

XanderTradeJun. 16, 2017 at 7:52 am

Congratulation man!

OceanRiderJun. 16, 2017 at 7:48 am

Congratulations Roland and Tim. Roland, it is very encouraging to see you achieve this level of success so quickly. The Challenge combined with work is where the magic happens. Looking forward to many more successes in the near future! Fantastic!

ButterflygirlJun. 16, 2017 at 7:12 am

Thank you and congratulations!:)

FelixJun. 16, 2017 at 5:53 am

Nice, keep it up.

AnonymousJun. 16, 2017 at 5:13 am

Congratulations Roland!

Tim VaughnJun. 16, 2017 at 4:30 am

Thanks Roland for the great lessons and congratulations on your great success. I hope to be following in your footsteps and continue my studying to get there. Thanks Tim for always bringing us the stuff we need to hear and LEARN everyday.

Sitansh PatelJun. 16, 2017 at 2:13 am

Thanks Roland!

KiabethJun. 16, 2017 at 12:17 am


Congrats on the knowledge you’ve gained and the changes you’ve made within yourself! Thank you for sharing these lessons, it has changed my mindset on a few things. Oh yea.. Congrats on the six figures!!!!!

All the best!

Growth4meJun. 15, 2017 at 11:52 pm

Thanks Roland. I am developing some of the same rules with my experiences and hope to be up writing one of these blogs in the next year myself. Keep it up and see you in chat. Congrats!!

sengsackdaJun. 15, 2017 at 11:46 pm

Congratulation Roland
I really want to be right Tim But I am a new hand
I am thew beginner
I really want to success and want to be a millionaire right everybody
So I hopefully I can get help from you all especially Timothy sykes
Thank you very much

Nick GangadisJun. 15, 2017 at 11:35 pm

Very motivating post. Thank you for presenting trading in such a realistic way. Now that I know how things truly work I’ll give it a go.

RBIJun. 15, 2017 at 11:17 pm

Congrats Roland! I’m only 100k behind you but I’m catching up fast 😉

JAVIERJun. 15, 2017 at 11:17 pm


JairoJun. 15, 2017 at 10:57 pm

Congratulations Roland!! , I am working on the same path.

manasJun. 15, 2017 at 10:57 pm

congratulations ronald for your six figure success . keep it up bro

AnonymousJun. 15, 2017 at 10:56 pm

Congratulations Roland!! , I am working on the same path.

Timothy SykesJun. 15, 2017 at 10:57 pm


AnonymousJun. 15, 2017 at 10:39 pm

Awesome list Roland! These are excellent points to follow. Sometimes i think we make things a lot harder than it has to be, but your list puts everything in perspective. Congratulations on your success!

Timothy SykesJun. 15, 2017 at 10:57 pm


edson magossiJun. 15, 2017 at 10:27 pm

I appreciate you share those points, especially the attitude is everything, great tips Roland !
Keep up with good work, see you @ chat room.
best regards

Timothy SykesJun. 15, 2017 at 10:57 pm


BryanJun. 15, 2017 at 10:09 pm

Congratulations to Roland and Tim. Makes me strive to do better with studying and trading.

Timothy SykesJun. 15, 2017 at 10:57 pm


MikeJun. 15, 2017 at 10:03 pm

Congrats Roland!

Timothy SykesJun. 15, 2017 at 10:58 pm


SylviaJun. 15, 2017 at 10:02 pm

So true! Thank you for sharing with us!!!

Timothy SykesJun. 15, 2017 at 10:58 pm

My pleasure!

MichaelJun. 15, 2017 at 9:41 pm

Prepare, take singles, and cut losses quickly.

Timothy SykesJun. 15, 2017 at 10:58 pm


robbinJun. 15, 2017 at 9:02 pm

Congrats Roland. I will take head to this great advice. Thank you Tim for the opportunity.

Timothy SykesJun. 15, 2017 at 10:58 pm


ChrisJun. 15, 2017 at 8:59 pm

Congratulations Roland! I echo what you said so much and the same has been said many times by Tim and others, especially on cutting loss. It takes more courage when it come to trading like a ” coward”. Thank you for sharing your experience!

Timothy SykesJun. 15, 2017 at 10:58 pm


DeWayneJun. 15, 2017 at 8:57 pm

Hey man congrats on your milestone… That’s pure motivation!!!! $alute!!!!

Timothy SykesJun. 15, 2017 at 10:58 pm


PeterJun. 15, 2017 at 8:43 pm

Congratulations, great work and post.

Timothy SykesJun. 15, 2017 at 10:58 pm


geo fanJun. 15, 2017 at 8:41 pm

Congrats Ronald, its great to hear inspiring success stories !! Keep it up!

Augusto PardoJun. 15, 2017 at 8:36 pm

Right on Nolan, your story is so Inspiring! Thanks a lot for sharing with us!

Timothy SykesJun. 15, 2017 at 10:58 pm


KyleJun. 15, 2017 at 8:26 pm

Congrats on reaching 100k plus in profits! Keep up the great work, and thanks for sharing your ten lessons that you have learned.

Timothy SykesJun. 15, 2017 at 10:59 pm


AnonymousJun. 15, 2017 at 8:17 pm

Thanks for posting.. Good stuff!!

Timothy SykesJun. 15, 2017 at 10:59 pm


Ron NicholasJun. 15, 2017 at 8:10 pm

Roland thank you for this article, in particular highlighting the importance of a good attitude. I’ve realized recently thats been holding me back in a big way. Enjoy the success and again thanks for showing what’s possible when you want it bad enough!

Timothy SykesJun. 15, 2017 at 8:10 pm


Louis HorvathJun. 15, 2017 at 8:07 pm

What an amazing, accomplishment! Nice job Roland and Timothy for being a great teacher and building profit.ly. Very very inspirational.

Timothy SykesJun. 15, 2017 at 8:10 pm


Author card Timothy Sykes picture

Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (205) 851-0506 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”