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Trading Tips-Tim Sykes Penny Stock

5 Small Account Hacks To Level Up

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Written by Timothy Sykes
Updated 7/21/2022 7 min read

Next week I’ll reveal my best strategy for 10xing your trading account in the next 46 days.

If you like trading stocks and are not scared off by the idea of making fast money, then make sure you register for this exclusive event.

I’m living proof that you can take a small amount of money and turn it into life-changing sums.

And while I don’t consider it to be an easy task. I do believe there are things everyday folks can do to improve their odds significantly.

In fact, I’ve detailed five small account hacks that you can start implementing today to get you on the right track on the success ladder.

Small Account Hack #1: Think in % Terms, Not $ Terms

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The best time to start trading is yesterday. Now, that might sound funny, but here’s the thing, the early stages of your trading journey are a discovery phase. During this period, you’re figuring out the mechanics of the market and trading.

And you know what else?

During this stage, you’re going to make some mistakes. Through screen time and experience, you’ll make fewer mistakes. That’s why it is almost preferable you start trading with a small account.

Don’t be one of those people who are putting off trading because they don’t have enough money to get started or make an impact. I started my trading journey with a little over $12K. And some of my now millionaire students started with a lot less.

It’s okay if you’re trading and making $10 to $50 on a trade to start. Don’t think in dollar terms. Instead, think about your results in percentage terms. This will allow you to scale a lot faster and easier as your account grows.

Small Account Hack #2: Stock Selection Is Everything

The bigger your trading account is, the more opportunities open up. However, when you’re trading a small account, trade and stock selection is everything.

I didn’t grow my five-figure account into seven figures by trading Exxon, Apple, or Disney. I put my focus on stocks that have the potential to move double or even triple percentage points in A SINGLE DAY!.

Even in this brutal and choppy market, my students and I find winning trades and opportunities. And that’s because of our stock selection.

If you want to discover where I’m finding the best opportunities at the moment, and why I believe traders have a chance to 10x their small account in the next 46-days —  register for this exclusive event. 

Small Account Hack #3: Become An Observer

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My buddy, “Iron” Mike Tyson once said we all have a plan until we get punched in the face. And while setting a trading plan is essential if you want to be consistent and successful, many traders struggle to stick to it. Especially as they see the money in their account go up and down.

However, top traders don’t let their emotions interfere with their decision-making. Instead, they act like observers. By being an observer, you can analyze what you’re doing in real-time, and improve your overall results.

For example, as an observer, you’ll ask yourself questions like:

  • Do I still have an edge in this trade?
  • Am I sized correctly?
  • Is there any new information that changes my thesis?
  • Am I following my trading plan?

You’ll be surprised at how much better you’ll be and how cleaner your execution will get once you become an observer.

Small Account Hack #4: Focus On Consistency

Last month one of my top students, Mark Croock, had his greatest single profit day ever, scoring more than $280K in gains!

Of course, that’s significantly more than most families make in a year. And it’s 4-5x more money than Mark made when he was an accountant. But it took Mark more than ten years of hard work, studying, and trading to develop the conviction to put in a trade of that magnitude.

And to develop conviction, you need confidence. You develop confidence from experience. That’s why it’s so important that you identify your trades and setups.


Because you want to discover what your strengths and weaknesses are as a trader. You want to develop one or two A+ setups. And then master them. Focusing on your best trade setups will improve your odds of becoming consistently profitable.

By the way, if you don’t know the best setups, I highly encourage you to join me next week for this exclusive event. I believe there’s an opportunity in the market that very few folks are talking about, if I’m right, could 10x your account within the next 46 days. 

Small Account Hack #5: Set Process Goals

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© Millionaire Media, LLC

Of course, we all want to make money in the market. The more, the better right?

However, we can’t control the markets, and not all trading days are the same. Some offer little to no opportunities … while others are so busy … you’re glued to your screen for hours.

That’s why you should AVOID setting goals in dollar terms.

So many traders will say stuff like, I just want to make X-amount a day, and I’ll be happy.

But what if there are no good trades that day. Instead of rewarding yourself for being disciplined, you might force some trades to meet your goals.

That’s why you shouldn’t grade yourself on the money made. But rather, judge yourself on whether you followed your trading plan, traded A+ setups, studied your trades, reviewed your watchlist, and journaled your teachable moments.

Focus on setting process goals, and I promise you’ll get closer to achieving your monetary goals.

That’s all for now, make sure to register for my upcoming event next week. If you’re interested in potentially 10xing your account in the next 46-days, then registration is a must

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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

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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 (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”