The 24-Year-Old Millionaire Software Engineer

By Timothy Sykes

Last updated on September 13, 2022
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Big bank accounts don’t prove you’re a good trader. They just show that you hit some nice wins.

The real test of a trader’s metal is their ability to help others become successful in their own right.

I’m proud to claim more than 20 students I mentored into true millionaire traders.

These folks come from across the spectrum, with some like Mariana HITTING THE MILLIONAIRE MILESTONE BY 20!

So, when Business Insider published a story about Matt Monaco, I had to share it with you.

Matt was studying at Rochester Institute of Technology to become a software engineer.

After a few internships, he realized it wasn’t for him, leading him to search for online money-making opportunities.

And that’s when he fell into trading.

Taking the principles I teach, Matt created a unique style he deploys on everything from small caps to crypto.

Despite the wide variety of assets Matt trades, it all comes down to a few key points.

Maintaining Discipline

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At one point, Matt had no more than $2,000 in his trading account.

This meant he fell under the Pattern Day Trading rule (PDT) which limits a trader to three roundtrip trades in five trading sessions.

That can be incredibly frustrating for someone who wants to actively trade.

Instead, Matt saw it as an opportunity and crafted a strategy around the PDT rule.

Typically, Matt lets the market open and spends the first 30-60 minutes of the day doing research.

He leverages the StocksToTrade platform to scan for the stocks making the biggest moves.

Generally, that narrows his search down to 10 to 15 stocks.

From there, he ignores the ones that already spiked 50% or more.

Whereas I prefer OTC stocks, Matt sticks mainly with listed stocks that have a float between 2-10 million shares and $500,000 a day in trading volume.

Like most of my students, Matt dives into why a stock is moving. That’s where the Breaking News chat room on StocksToTrade comes in.

The Breaking News team provides him with the latest headlines curated to the most active stocks and most important stories.

About three stocks generally make his watchlist when all is said and done.

…And then he walks away!

Unlike most of my other students who rely on the morning session, Matt focuses his trading on the end of the day.

From there, he comes back towards the close. As long as a stock has held up nicely, he looks to buy shares and hold into the next morning.

I find this strategy absolutely fascinating.

What’s impressive is how methodical it is and basically removes all the emotional swings from watching a chart all day.

This kind of strategy works incredibly well for someone who might work full-time but has a flexible schedule.

Understanding Risk

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Matt began trading seriously in late 2019 and began to turn a profit.

You might be surprised to learn he only won 40%-50% of his trades.

It all boiled down to risk management.

Matt’s wins were 2x-3x the size of his losers.

This feeds back into my mantra – cut losses quickly and keep them small.

While Matt doesn’t use automatic stop losses, he mentally moves up his stops as the price increases.

Additionally, Matt adds to his position as the stock climbs. However, the dollar value of the risk remains the same.

You can think of this as using the initial profits to reinvest in a new position.

Matt isn’t one to force trades and doesn’t consider the time spent taking a break as wasted.

After watching other traders pull out their hair trying to find the next trade, he’s more than happy to wait for things to happen on his terms.

A Multi-Asset Trader

matt monaco in Italy
© Millionaire Media, LLC

Matt’s branched out from penny stocks and now trades everything from options to cryptocurrencies.

In fact, while everyone is shunning the crypto market, Matt thinks a monumental event is on the horizon.

That’s why he’s holding this one-time webinar to lay out his plan to take advantage of this incredible opportunity.

Click here to sign up for Matt’s upcoming event.

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Comments (1)
Author imageTimothy Sykes
Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my Trading Challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don’t forget to check out my 30 Day Bootcamp, it will teach you everything you need to know about trading.

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