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64 Penny Stock Trading Rules to Honor My $127,000 Profit Week

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Written by Timothy Sykes
Updated 1/20/2023 32 min read

You need penny stock strategies and trading rules if you want to be the next penny stock millionaire trader.*

But how do you know which rules and strategies are most important when you’re starting?

Usually, you make a bunch of dumb mistakes, learn from them, and establish your rules of what NOT to do.

I’m here to help cut down the time it takes you to learn those lessons…

I’ve already made all the mistakes in the book. Now I teach others what I’ve learned over 20+ years in the markets. Learning from a mentor can drastically speed your learning curve. Not to mention save you a bunch of frustration.

So in this post, I’ll give you my rules for all penny stock traders, and I’ll share some penny stock traders’ success stories. Plus, I’ll give you a list of penny stocks to watch in 2021.

Let’s do this!

Table of Contents

How Much Money Can You Make in Penny Stocks?

Trading can be a lucrative career. But I have to de-brainwash newbie traders from thinking about the money.

Trading’s counterintuitive. If you want to become a penny stock millionaire, you can’t focus on the money. Instead, focus on the process and smart penny stock strategies. 

It’s all about having the right penny stock strategies, patterns, risk management, rules, and mindset.

If you constantly chase hot stock picks and follow others, you learn nothing. You won’t become a self-sufficient trader.

Don’t put your success in someone else’s hands. Instead, learn these rules and apply them to your trading. Work hard and study up!

New to penny stocks? Get my FREE penny stock guide here.

(*Please note that these kinds of trading results are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to trade. Individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.)

Penny Stock Strategies: 64 Key Trading Rules for Success

 penny stock strategies
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I’ve updated this post several times now since 2009. 2009! How’s that for legacy?

Or how about Tim Grittani, who started with $1,500 and has now made over $13.5 million in trading profits?* When I last updated, he was up to $1.4 million.*

And I have so many more awesome traders’ stories to share now.

So to honor 20+ years of trading, a crazy market, and 10 Challenge students hitting the $1 million milestone, I’m dusting off this old blog post…

My latest six-figure week of trading profits was in February 2021. I made $127,724.83 thanks to an insane market and a ton of plays*.

But whether you make $100 or $100,000 in a week, the rules of the game and penny stock strategies don’t change. Here they are…

1. Cut Losses Quickly

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This will always be rule #1. But it can be the most difficult to follow because of emotions and ego.

When I’m wrong, I HAVE to…

2. Get Out of Bad Trades

This is a step up from cutting losses quickly. Many people are surprised when I take 5 or 10 cents per share in profits. But if a stock doesn’t do EXACTLY what I expect, I get out.

It all depends on the expectations I lay out in my trading plans. Want to know what I’m thinking when I enter and exit a trade? Sign up for Profit.ly and I’ll send you alerts and commentary for every trade.

3. Small Gains Add Up

I focus on taking trades that do EXACTLY what I expect. That way my small gains add up over time. And taking small losses protects me from huge disasters.

I give myself opportunities to hit home runs. But I take singles, doubles, and even strikeouts to protect my downside risk.

4. Trading Isn’t Easy

Don’t start trading to get rich quick. Most of my millionaire students* are in year three or four of their trading journey. It takes years of studying and practice to nail down your patterns.

5. Learn What Works for You

I don’t recommend short selling for new traders. But it’s important to understand market mechanics. Understand when to go long and when to go short — but try not to be biased either way.

You might short the junkiest penny stock company in the world, only for it to come back and have a perfect technical breakout.

The recent GameStop Corp. (NYSE: GME) short squeeze is a perfect example. Shorts were overly biased and got stubborn. Yet there were plenty of opportunities to be long.

6. Patterns Repeat

Despite the entire world hating on penny stocks, the manipulation creates patterns that repeat over time. I’ve traded the same patterns over and over in my 20+ years of trading. Now I teach them in my Trading Challenge.

As long as there’s manipulation, promotion, and hype in penny stocks, the patterns will repeat. Learn how to take advantage of them.

7. Keep a Trading Journal

Keep a detailed trading diary on Profit.ly. It’s key to figuring out your go-to patterns and penny stock strategies.

Many new traders make the mistake of trying to trade every stock that’s moving. Instead, focus on a few patterns to start and record your results. Then hone in on what works best for you.

8. Work From Almost Anywhere

I can work from almost ANYWHERE in the world. As long as I have my laptop and a decent internet connection, I can trade.

9. Focus on the Process

Growing an account exponentially might sound like a daunting task, but it’s possible — if you focus on the process and honing your penny stock strategies.

Don’t worry about the money … Focus on developing a process you can repeat over time.

10. Ignore Non-Volatile, Illiquid Penny Stocks

Focus on actively traded in-play stocks like recent runners, in hot sectors, and stocks with news trading high volume.

Take the meat of the move, then move to the next hot play. Don’t sit around and daydream about 500% wins.

11. It’s OK to Be Wrong

Losses are part of trading — accept it. Cut losses quickly when you’re wrong, and keep your losses smaller than your gains.

I’m right about 77% of the time, but my wins more than make up for my small losses.*

12. Know How to React to the Market

When the market’s on fire with plays, I trade more aggressively with larger position sizes and more speculative trades.

But when the market’s choppy or slow, I trade conservatively. I take smaller position sizes and minimize risk by not holding stocks overnight.

Always protect your account by cutting losses quickly and selling into strength.

penny stock strategies
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13. Most Traders Lose

Remember the majority of traders lose. I think that’s because most traders are too lazy to prepare or learn penny stock strategies that work for them. They don’t want to put in the time to learn the markets. They trade with their guts and no plan.

Go into every trade with a specific plan, including where you’ll enter and exit.

14. Don’t Believe the Hype

Don’t believe BS press releases. Fraud is rampant in penny stocks … The key is to accept that and learn to take advantage of it.

Understand that the vast majority of penny stock companies fail, and their stocks will go to zero. Always expect the worst and you won’t be disappointed.

15. Don’t Fall for Pumps or Promotions

I hate seeing so much misinformation about penny stocks and penny stock strategies. It’s why I love to teach the truth about penny stock pumps and promotions. Too many people believe promoters and get sucked into buying and holding pumps. NEVER believe the promoters or the hype, because…

16. Most Penny Stocks Fail

It’s not a question of if, but when. But even though most penny stocks will go to zero, they can spike a TON in the meantime. Especially if the promotion is successful.

So don’t short a stock, then ignore it if it goes against you. Logic and reason are often weeks, months, or even years behind in penny stocks.

17. Don’t Overstay Your Welcome

I day trade penny stocks — I don’t invest. So I hold my positions for a very short time. I take the meat of the move and move on. The longest I hold a stock is overnight. And I never hold and hope a loser will turn into a winner.

18. Don’t Get Greedy

My goal for a trade is usually 10%–20%. More than that is a bonus. Don’t swing for home runs or try to make 100% or more on a trade. Those kinds of trades don’t come along every day.

Focus on taking small profits over time.

19. Use a Great Scanner

A scanner is a must-have weapon for the trading battlefield. I prefer StocksToTrade’s 40+ built-in scanners. And you can customize your own. StocksToTrade was developed specifically for the low-priced stocks I love to trade.

And the Breaking News Chat add-on alerts traders to breaking penny stock news. That way you can react FAST. Like I did on this trade.*

Get a 14-day trial of StocksToTrade for only $7, or grab a trial with the Breaking News Chat for only $17!

(Quick disclaimer: I proudly helped design and develop StocksToTrade and am an investor in it.)

20. Educate Yourself

Get my 30-Day Bootcamp. It’s a month’s worth of lessons with daily assignments and homework. You can work at your own pace and repeat it as many times as you like. Plus, it comes with “The Complete Penny Stock Course” book and my “Pennystocking Framework” DVD. All for under $100.

My Trading Challenge is where all my millionaire students come from.* If you want access to an entire curriculum designed to mentor traders, apply today.

21. Learn From Other Traders

penny stock strategies learn from other traders
© Millionaire Media, LLC

Most of my top students turned millionaires* have become moderators in my Challenge chat room. They share penny stock strategies daily and answer questions. You can also see all their trades on Profit.ly.

22. Know When to Walk Away

No great plays? Don’t be afraid to take the day off. Too many traders feel the need for action and waste time and money looking for it. Don’t force trades…

23. Let the Best Trades Come to You

Don’t be desperate to trade — let the best trades come to you. One of my haters once emailed me and said, “Tim you only trade gimmes, step up and trade real stuff like forex.”

Of course I only trade gimme setups. Why would I make trading harder for myself?

24. Forget Wall Street

Wall Street spits on penny stocks for their lack of upside. They think the gains aren’t worth it. But it’s great for those of us who are ready to take advantage of promotions and pumps with penny stock strategies.

25. You Can Start Small

In fact, I encourage it. With penny stocks, it’s possible to start with just a few thousand dollars. Test out patterns with small position sizes. Or even paper trade to start.

26. Learn to Lose — Especially in the Beginning

Yes, great gains are possible. But don’t expect them at the beginning. Your first goal should be to learn the patterns and strategies. Aim small, miss small. Stay in the game long enough to be in the right place to take advantage of the best plays when they come about.

27. Be Ready to Work

You hear about my millionaire students when they’ve made it to $1 million in trading profits. But you don’t see the years of hard work they put in to learn their penny stock strategies.*

All the top Challenge traders put in years of dedicated study to reach major profit milestones. Don’t come into trading thinking it’s easy.

28. Value Your Time, Money, and Education

I value my time. That’s why I charge tuition for my Trading Challenge. I don’t have time to waste on lazy degenerates. Plus, people value education more when they pay for it. I’ve given out free resources in the past, and people don’t use them.

My teaching income allows me to proudly donate all my trading profits to charity. Everyone has the same 24 hours in a day — how will you use your time?

29. Never Trade With Money You Can’t Afford to Lose

You can’t trade penny stocks if you have $50 to your name…

Take it seriously. Save up enough to fund an account with at least a few thousand dollars. Never trade with money you need for bills or food. Remember, most traders lose.

30. Find the Right Broker for You

I use E-Trade and Interactive Brokers. They work for me. It doesn’t mean they’re the best. And it doesn’t mean they’ll work for you.

Do your research and find one that suits your needs and trading strategy best. Learn more about brokers here.

31. Understand All the Risks and Rewards

Know what’s involved with trading. Learn everything you can about the markets and trading before you start. Stay focused on your goals and the rewards, but always know the risks.

32. Be Wary of ‘Tips’

Never follow anyone’s stock picks or ‘hot tips.’ Smart traders learn to trade for themselves. They don’t follow others. If you ever get a penny stock tip, expect insiders and others to sell into your buying.

33. Know the Game

Back in the day, I used to LOVE shorting. But finding shares to borrow was always a challenge. These days it’s a bit easier, but it’s still part of the game.

Going long is risky too. A company could dump diluted shares on you if you don’t read SEC filings. Know the rules before you play.

34. Watch for Catalysts

I prefer to buy penny stocks with a catalyst … like a breakout over past highs, ideally with news like an earnings or contract win.

35. Take Advantage of Informational Inefficiencies

This is one of the coolest things about penny stocks … Because the niche is so small, breaking news can take days or weeks to get priced into stocks.

As opposed to a company like Google, which reports earnings and has thousands of traders and investors analyzing the news within seconds.

Learn to take advantage of these informational inefficiencies.

36. No Days Off

Don’t take days off, EVER. At least check in on the markets even if it’s for 30 minutes, especially when the market’s hot. Hot markets don’t last forever. Capitalize on the opportunities and save your days off for slower markets.

37. Prepare for the Long Haul

Most students aren’t in this for the long haul. They want to ‘get rich quick’ and chase hot picks.

Realize that trading can change your life over time. It’s a marathon, not a sprint. What will you do today, this week, this month, to prepare to strike when there are solid opportunities?

38. Trading Is NOT a 9-to-5 Job

You don’t have to sit in front of the computer from 9 to 5 every day … When the market’s quiet and there are no plays, go live. Spend time with your family and friends.

39. Be Willing to Make Sacrifices to Learn YOUR Penny Stock Strategies

You must be ready to leave friends and family to capture opportunities. I missed my college graduation but made nearly a semester’s tuition.* Going to the bathroom once cost me $30,000. You have to choose how badly you want it.

In this video, I rip on Jack Kellogg for going to the grocery store during market hours. Know what can cost you opportunities, especially in hot markets.

40. You Won’t Ever Be Perfect

I’m not 100% disciplined. I mess up trades sometimes. I also miss trades when I’m busy with my business or charity. Accept that you won’t ever be perfect.

41. No Excuses

I don’t make excuses for missed trades. Understand that penny stock trading takes time to learn and practice. Sometimes sacrifices are necessary.

42. Be Ready When Preparation Meets Opportunity

Planning is fine, but you also need execution. When a good plan AND execution come together, it can mean serious profits.

All my top students have put in years of hard work and studying. And when the 2020 hot market came, they were ready to capitalize.

43. Stay in Your Lane

NEVER trade stocks like Microsoft, Bank of America, or Priceline … You have no edge whatsoever. And risking money without an edge is the definition of gambling.

44. Find Your Edge

Every trader needs an edge. For me in penny stocks, it’s knowing about the manipulation and promotions and taking advantage of them. That gives me an edge over penny stock ‘investors’ who believe the promoters and BS hype.

45. Study, Study, Study

Study patterns, successful traders, and the past. Study all my video lessons, DVDs, and webinars on Profit.ly.

Read “The Complete Penny Stock Course” written by my student Jamil, and my no-cost book, “An American Hedge Fund.”

46. Learn From My Newest Penny Stock Millionaire Traders

Meet my first female millionaire trader here. I have a second millionaire student named Jack who I call Jack #2. Learn his story here.*

Follow Matt Monaco’s progress to $1 million in trading profits here and here.*

47. Study How These Top Traders Made It and Continue to Adapt

Then check out this webinar with Jackaroo. And get Matt’s bonus Bootcamp lesson here.

48. Learn From Jack Kellogg’s Exponential Growth in 4 Videos

Here’s part 1 of Jack’s story…


And here’s part 2 … And part 3… Then wrap things up with Jack’s trading rules in part 4

49. Get the Right Mindset

If you’re complaining about watching a few videos to master an art, you need to change your perspective. I learned the hard way over 20+ years.  I can teach to help you speed up your learning curve…

You can learn everything I know if you follow my trading rules and have the right mindset.

50. Remember Your Goals

Whenever you feel daunted by all the studying to learn penny stock strategies, remember the rewards:

51. Size Up Slowly

Once you get everything down, you can start sizing up. But ONLY after you understand the catalysts that move stocks and the risks of being aggressive.

52. Read to Learn Top Penny Stock Strategies

In addition to the must-read books “The Complete Penny Stock Course” and “An American Hedge Fund,” read these:

(As an Amazon Associate, we earn from qualifying purchases.)

53. Use Free and No-Cost Resources

I have a ton of free educational resources online. Read my blog, watch the 1,400+ videos on my YouTube channel, and study all my trades.

Get my no-cost “Volatility Survival Guide.” And sign up for my next Trading Mastery webinar here.

54. Be Humble

Don’t let wins and profits go to your head. Stay humble, or the market will humble you.

55. Don’t Use Leverage

NEVER use leverage. It can help you grow your account, but it can also increase your losses. Again, don’t trade with money you can’t afford to lose.

56. Build Confidence

It’s OK to trade small at first. Use small positions and build confidence over time. Prove to yourself you can do it.

57. Know When to Be Conservative vs. Aggressive

Be aggressive on your favorite patterns and ideal setups in hot markets. When it’s a slower market, be more conservative and protect your account.

Start with small positions and risk an amount you’re comfortable with. But…

58. NEVER Go All In

No matter how good a pattern looks, it’s not worth risking disaster. No one trade is worth risking your account over, EVER.

59. Be Careful of Scammers!

Don’t believe penny stock gurus who don’t show EVERY trade. There’s a ton of newbies trying to teach. They don’t have the experience, and they’re not transparent about their penny stock strategies.

I never DM anyone over social media. I don’t manage other people’s money, or trade crypto, options, or forex. Don’t fall for the scams. Lots of frauds out there — be careful.

60. Always Be Ready to Adapt

Bull markets make everyone feel like a genius, but most will crash and burn in other market environments. Always remember the market will change. Be prepared to adapt.

61. Ride the Hype Train (Just Never Believe It)

I don’t care which promoter hypes up which stock. As long as penny stocks run on hype, manipulation, and lies, smart traders can find opportunity.

Learn how to ride the hype train here.

62. I LOVE Pumps!

I want pumps to go as high as possible. That gives more room to ride the momentum. It can also mean bigger morning panics and bigger bounces.

63. Think Like a Retired Trader

Thinking of yourself as a retired trader can prevent overtrading. Only come out of retirement for your highest-odds setups.

64. Study My 7-Step Framework & Penny Stock Strategies

My vastly under-watched “Pennystocking Framework” DVD shows the seven-step framework most penny stock pumps follow. It’s amazingly accurate … Study it, learn it, use it.

Bonus Lessons!

Understand that to be truly successful in penny stock strategies, and in life, you need to go above and beyond. Study these bonus lessons:

  • Aspire to be this one day … Work hard enough and achieve your goals.
  • Eat healthy and work out. Health is crucial to successful trading.
  • Understand celebrities don’t know penny stocks, much less finance. Sometimes they get duped into promoting pumps. Don’t listen to them.
  • The major financial media usually don’t cover penny stocks. And when they do, they usually do it wrong, like pumping up some crap company. Don’t hate on the ignorant media — their naivete creates opportunity.
  • Don’t hate on those who think it’s illegal to short penny stocks or that a pump will go to the moon. Try to save them with good information. If they resist, recognize this is how the penny stock industry has always been. The truth about promoters is tough for many to accept.

Successful Penny Stock Millionaire Stories to Inspire You

Need more inspiration to find your penny stock strategies? Learn from some penny stock millionaires!

Check out this video with Matt here*. Get to know Jack #2 here*.

Learn even more with Mariana*:

3 Penny Stocks to Watch in 2021

Penny Stock to Watch #1: Asia Broadband Inc. (OTCPK: AABB)

AABB is a metals and mining company that’s moving into the crypto space. Nope, you can’t make this stuff up…

Since it’s pumped as a crypto play, it can run in sympathy with bitcoin and NFTs. In February it announced a stock dividend. I made $55,753.54 trading this stock between August and March.*

penny stocks to watch in 2021
AABB chart: 1-year, former supernova — courtesy of StocksToTrade.com


Penny Stock to Watch #2: Transportation and Logistics Systems Inc. (OTCPK: TLSS)

TLSS is a trucking and logistics company. Online shopping and home deliveries increased over the last year … And the stock has spiked on news of the company expanding its fleet.

As of this writing, I’ve made $26,490.11 trading this stock since April 2020.* It’s a former runner, so it’s worth watching.


Penny Stock to Watch #3: UA Multimedia Inc. (OTCPK: UAMM)

UAMM is another sketchy penny-stock company that changes its business plan based on hot sectors. It was a marijuana stock before changing over to crypto. Watch for this company to enter whatever hot sector runs next…

As of this writing, I’ve made $19,835.13 trading this stock in 2021.*


Frequently Asked Questions About Penny Stock Strategies & Millionaires

Can You Get Rich Trading Penny Stocks?

My penny stock millionaire students and I are proof that you can get rich trading penny stocks.* But new traders shouldn’t think about the money. Trading’s about finding a process that works for you and repeating it over time.

What’s the Most Successful Penny Stock Ever?

Clothing company True Religion was once a penny stock trading on the Nasdaq. It got bought out by a private investment firm for $824 million, or $32 per share. But the company still didn’t find success. It filed for bankruptcy in 2017 and again in April 2020.

What Percentage of Penny Stocks Fail?

Almost all penny stock companies are junk and eventually fail. I don’t believe in any of them. Expect the worst and you won't be disappointed. Never believe the hype or think that you’re buying the next Apple or Microsoft. Trade the volatility and hype, then move on.

Can I Day Trade Penny Stocks?

Yes, you can day trade penny stocks. But if you have less than $25,000 in your margin account, you’ll be limited to three day trades per five-day period. Holding a stock overnight doesn't count as a day trade.

The Bottom Line on Penny Stock Strategies & Rules

Learning to trade can be hard work. Use these trading rules and penny stock strategies to help you develop a process.

And use my Trading Challenge students as inspiration to stay focused on your goals. Because anything is possible with hard work and dedication.

If you want access to the same educational resources as all my penny stock millionaire students, apply for my Trading Challenge today. But fair warning: I don’t accept everyone.

I weed out the lazy students so I can focus on teaching those who truly want success bad enough. Do you?

What do you think about these penny stock strategies and millionaire stories? Will you follow these trading rules? Let me know in the comments … I love to hear from you! 


Tim’s trading results are not typical and do not reflect the experience of the majority of individuals using the service.  This level of successful trading is not typical and does not reflect the experience of the majority of individuals using the services and products offered on this website.  From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit. This figure is taken from tracking user accounts on Profit.ly, a trading community platform.  Timothy Sykes has a minority shareholder interest in the platform. The typical success rate of users was based on the following methodology:

-From January 1, 2020, to December 31, 2020, 849,078 trades were uploaded to Profit.ly.  633,891 trades were “verified” (corroborated with trade account data).

-Instructor trades are ignored.

-Average P&L / trades is obtained by calculating total P&L and dividing by the total number of trades.

-Average trades per account is obtained by counting the total number of trades and dividing by the number of accounts (mean function)

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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”