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How I Made +$100k* Already In 2024

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Written by Timothy Sykes
Updated 4/19/2024 5 min read
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We’re not even halfway through 2024 and I’ve already grown my trading account by $100,000.

Now … To be fair, the beginning of 2024 was dominated by bullish momentum from the tech sector. And since three out of four stocks follow the market, it was statistically easier for traders to make money the first three months of the year.

But markets ebb and flow. And so far, April shows a sizable pullback on most major indices. Take a look at the S&P 500 ETF Trust (NYSE: SPY) chart below where every candle represents one trading day:

SPY chart multi-month, 1-day candles Source: StocksToTrade

And yet … Some of my best trading days have been during last week’s overall market carnage. No, I’m not short selling.

A $1,510 profit from Friday April 12 into Monday the 15, with a starting stake of $6,565. Using my weekend strategy.

A $1,350 profit on April 16 with a starting stake of $15,325.

A $1,275 profit on April 17 with a starting stake of $11,700.

Another April 17 profit of $1,760 with a starting stake of $9,460.

I’m not investing in the long term success of companies either.

I’m trading the most volatile stocks for quick profits.

And I’m Not The Only One

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There’s a specific process that I use to profit off these intense runners.

And there are more than 30 other traders that have already used this process to make +$1 million each.

It’s not a secret. I’m teaching this process every single day to thousands of people. (All of the students in The Challenge and across my social media posts).

I have a comparatively small number of millionaire students because most people don’t have the discipline to succeed in the stock market.

I hate to break it to you: There are rules that we have to follow as traders. And for whatever reason, the stock market attracts gamblers who throw out the rule book on day one.

That’s why 90% of traders fail.

I know, it’s easy to get lost in the fear and greed of the stock market. In fact … That’s why we have profitable trading patterns. Volatile stocks can follow popular patterns because people behave predictably during times of intense fear and greed.

Essentially, if you get a gambling itch while looking at a stock, chances are you’re a big part of the trading pattern that we use to profit.

The goal is to take a step back and recognize this key price action. Instead of following the crowd.

The Most Popular Stocks …

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Let’s get this straight, I’m not talking about big names like Meta Platforms Inc. (NASDAQ: META) or NVIDIA Corporation (NASDAQ: NVDA).

Those are big stocks that tend to follow the market. Plus:

  • The share prices are too high.
  • The stocks only move a few percentage points every day.

For example: Take my $1,510 profit on ParaZero Technologies Ltd. (NASDAQ: PRZO) from April 15 over the weekend.

The share price never pushed above $2. And I snagged 23% of the move.

Whereas a stock like META has a share price of $500 and only moves 3% in a day maybe.

Take a look at my PRZO trade notes below, the trade started on Friday April 12:

Source: Profit.ly

This wasn’t a unique trade.

I’m using the same process over and over again.

Here’s how I made $100k* already in 2024:

  • I stick to the rules.
  • I focus on the hottest runners.
  • I take it one trade at a time.

It’s all because of trades like PRZO. One after the other: I stick to the process. I put my head down. And I work.

Join me and my students for our next trading live stream.

There are new profit opportunities EVERY DAY for small-account traders like you and me.

Cheers.

*Past performance does not indicate future results

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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

* 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 (888) 878-3621 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”