Case Study: How Paper Trading and Thinking Small Made Dan Millions in Trading Profits {Infographic}

By Timothy Sykes

Last updated on April 14, 2022
Case Study: How Paper Trading and Thinking Small Made Dan Millions in Trading Profits {Infographic} Thumbnail

Dan first discovered me in 2013 while browsing YouTube. At the time, he was focused on playing poker. It wasn’t until 2016 that he circled back to me and started trading with a $30,000 account — and proceeded to lose for the next several months. It led him to make an extreme but game-changing move: he dropped out of college to become a full-time paper trader.

After eight months of paper trading, he started again with a $10,000 cash account. He played poker on the side to earn more trading money. His time practicing paid off — here’s how his journey played out…

Quote

“Starting big doesn’t work. You need to start small with the focus being on learning rather than making profit. Experience leads to bigger and better future opportunities.”

Background

My student Dan started trading with $30,000 so he could be over the PDT. But things quickly spiraled out of control, and he lost $12K in about three months. Luckily, he took it as a wake-up call to invest in his education. Here’s how he went from bleeding his account to $1.9 million in trading profits…

Timeline

2013

First discovers me on YouTube.

2016

Sets up his first $30K trading account and quickly loses $12K. Continues to lose until March 2017.

March 2017 to October 2017

Paper trades full-time.

October 2017

Begins trading again with a $10K account.

2018

Begins to hit his stride and has several memorable trades, including a $607 profit on Onconova Therapeutics Inc. (NASDAQ: ONTX). It’s still his Twitter banner because of what it represents (small positions with great risk/reward and locking in profits).

April 2021

Passes $1 million in trading profits.

September 2021 to March 2022

Goes from exponential profits to break-even trading in a turbulent market.

April 2022

As market momentum surges, so do his profits. Currently up over $1.9 million in trading profits.

Strategy

Dan likes to go long on bullish structures that he finds predictable. Typically, he looks for stocks that have a history of being explosive. He tries to time his entries with what he has determined is his best risk/reward.

But even with a clear-cut strategy, he understands the importance of adapting. He flows with whichever sector is working best, and he’s constantly making adjustments to his strategy as needed.

Stats

  • Currently over $1.9 million in trading profits
  • Average 2.84% percent gain per trade
  • Average $1011 gain per trade
  • Passed $1 million in April 2021
  • Currently up over $1.9 million

Trading Superpowers

  • Using the ‘poker mindset’ to trade smarter
  • Paper trading his way to smarter live trading
  • Devoting 12,500 hours into his career so far

See Dan’s Chart and Resouces

Take Your Education Further!

How does Dan’s story inspire you? Do you understand why he scaled back and became a full-time paper trader for months? Let me know in the comments!

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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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