timothy sykes logo

Success Stories

How 2 Brothers Passed $1 Million In Profits

Timothy SykesAvatar
Written by Timothy Sykes
Updated 7/29/2024 6 min read
How 2 Brothers Passed $1 Million In Profits Thumbnail

It’s official! I congratulated two new millionaire students in 2024 …

The profit opportunities in this market have already helped multiple students cross the $1 million milestone.

But Chris and Evan are special because … They’re BROTHERS!

Take a look at my post on X below:

I’m so proud of ALL my millionaire students.

But … We have to pay extra close attention to Chris and Evan’s trading success.

They managed to grow their accounts past $1 million in profits, like the rest of my millionaire students. But their journey is unique.

It shines a helpful spotlight on one of the main factors that influences a trader’s success.

This was on full display as Chris and Evan worked toward their trading goals.

Profits are not a 100% guarantee by any means. It takes hard work to grow a small account past $1 million.

But it IS possible … And the Schunk brothers just revealed a MASSIVE clue to help new traders follow in their footsteps.

The Truth About Day Trading

© Millionaire Media, LLC

This is an interesting niche.

People get into trading because they want to make money. Usually they’re also driven by the apparent ease and flexibility of making money without a boss, without coworkers, and without an office lifestyle.

It’s one of the main reasons why I trade … Just give me a Wifi signal and I’m good to go. I can do this from anywhere and technically I don’t have to answer to anyone!

See my post on X below:

But … There’s a lot of things a trader needs to know before they can successfully capitalize off of these plays.

And in the beginning, a trader learning on their own is likely to take a misstep.

Trust me, I developed this trading process two decades ago while I was still in college. I was on my own … And I made A LOT of mistakes.

One of the most glaring: I blew up the mutual fund that I was managing. Not pretty …

I didn’t have a community to help guide me in the right direction. And I’m convinced that my trading STILL suffers to this day.

For example, I usually sell my winning positions too quickly because I’ve been burned in the past. I call it my trading PTSD.

But traders who grew through the Challenge … They had mentorship and a community to bounce ideas off of.

This is why trading is such an interesting niche …

A self-sufficient trader should be able to profit all on their own. But to get to that point, it takes A LOT of learning.

Luckily, the learning curve grows shorter the more interaction a trader has with a savvy trading community. It keeps them on the right track.

Learn This Process Faster

tim sykes in arizona riding on a jeep
© Millionaire Media, LLC

Jack Kellogg is one of my most successful students.

He learned to trade in the Challenge community and had help from other traders to grow his knowledge account.

Jack is currently sitting at $12.9 million in trading profits. He joined my Challenge in 2017.

That’s compared to my profits of $7.7 million, and I started in 2000.

That’s why a trading community is SO important.

  • We can pass knowledge back and forth.
  • We share hot stock picks.
  • It keeps a trader on the path toward success (healthy peer pressure)

I’m convinced that this is one of the main reasons that contributed to Chris and Evan’s trading success.

Not only were they a part of the Challenge community … They had each other!

It’s similar to my millionaire students Bryce Tuohey and Matt Monaco.

Watch the video below for the moment Bryce passed $1 million LIVE!

Bryce and Matt are good friends from college. And once Matt started to have some success trading, Bryce hopped on the bandwagon.

Here’s my main point:

Trading seems like a lone-wolf profession. But actually, in the beginning it’s SO helpful to have input from other professional traders.

That’s why all of my millionaire students come from the Challenge.

Through the Challenge chatroom, my newest students have access to millionaire traders and an entire community of up-and-coming peers.

Apply for the Challenge today and commit to a future of trading!

Think about it like this …

The people who climb Mount Everest:

  • They don’t climb on their own.
  • They don’t skimp on preparation.
  • They listen to professionals in the community before climbing.

And to think … Everest climbers aren’t even chasing profits.

Take your trading seriously!

Cheers.

 

*Past performance does not indicate future results

 

How much has this post helped you?

(0 votes, average: 0 out of 5)
Leave a reply

* 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”