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Trading Tips-Tim Sykes Penny Stock

The Cheapest Way To Find A+ Trade Setups Today

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Written by Timothy Sykes Reviewed by Jack Kellogg Fact-checked by Ellis Hobbs
Updated 5/22/2025 3 min read
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Most people avoid the market because they feel under-informed and under-funded.

But me and my millionaire students are stark reminders that YOU TOO can find consistent trade setups in the market.

  • We’re informed enough to have an edge.
  • And our favorite plays are easy on the wallet.

For example today, Friday, May 23, there’s a specific pattern that I’m looking for in the market.

I buy shares on Friday afternoon and sell them on Monday morning.

The incoming weekend inspires specific price action from the market’s hottest stocks. That’s where I get my edge.

Plus, these stocks are really cheap. Last weekend I traded TSS Inc. (NASDAQ: TSSI) with an average entry price of $15.38 per share.

There’s still time to find weekend setups today!

This pattern starts to develop in the afternoon, right before the market closes.

Watch my video below for all the details:

It starts with the right stock …

Otherwise we waste a good pattern on a garbage stock.

How To Find The Hottest Stocks

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I covered my trade from last weekend in this blog.

Study that setup and make sure to find key areas of support and resistance on today’s biggest runners.

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Support and resistance act as the building blocks that support my favorite trade patterns.

It’s essential that traders understand this concept.

But again, the best trades start with the best stocks.

This is the checklist that I use to find strong runners in the market. I want stocks that:

  • Are between $0.01 and $10 per share.
  • Have at least 1 million shares traded intraday.
  • Have a float of less than 10 million shares.
  • Are spiking at least 20% intraday.
  • Have recent news to push the price higher.

Now, last weekend I traded TSSI with an entry of $15.38 per share. That’s pricier than the $10 limit from my checklist.

That’s because this is an inexact science.

  • Sometimes I’ll trade a stock above $10 per share.
  • Sometimes I’ll trade a stock with a float over 10 million shares.
  • Sometimes the stock doesn’t have any news but I trade it because it’s a short squeeze.

This is what it comes down to: I’m an experienced trader so I know how to bend the rules.

But for new traders, it’s safest to stick to the strongest possible stock spikes.

Use my checklist above to find the hottest runners today. Then look for this price action before the market closes.

Cheers

 

*Past performance does not indicate future results

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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.
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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”

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