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Trading Lessons

How I Profit Right Now – 7 Top Tips

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Written by Timothy Sykes
Updated 5/24/2024 10 min read

Yesterday, I made three trades with my small account.

All three were profits. And anyone with $5 could have made these trades.

I’m trading with more than $5 … But the point is: these plays are highly scalable for small-account traders.

You don’t need a ton of money to start trading.

Here are each of the share prices on the stocks I traded yesterday:

  • Altamira Therapeutics Ltd. (NASDAQ: CYTO) spiked to $2.46.
  • Actelis Networks Inc. (NASDAQ: ASNS) spiked to $1.06.
  • Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) spiked to $1.47

As small-account traders, our goal is to load up on these shares and ride the percent gain for profits.

And as a trader’s account grows over time, they can scale up their trades for larger potential profits.

Take A Look At My Trades:

I’ve been trading for over 25 years, so my position sizes are larger than most of my students who are starting out.

On CYTO I started with a stake of $5,593 and took a 4% profit. See my notes below:

Source: Profit.ly

On ASNS I started with a stake of $10,425 and took a 9% profit. See my notes below:

Source: Profit.ly

On FFIE I started with a stake of $4,628 and took a 12% profit. See my notes below:

Source: Profit.ly

And if you switch to the charts on StocksToTrade, you can see that I left a lot on the table.

I focus on volatile stocks so that there’s more room for error.

It helps mitigate some of the risk involved with trading.

Because there IS risk in this niche … 

Most people in the industry won’t be as blunt or upfront about it. But I’ve got nothing to lose.

And ultimately the more light that I cast on the industry, the more success my students will find in the market.

Here’s How I’ve Been Profiting

© Millionaire Media, LLC

To date, I have over $7.6 million in trading profits from the stock market.

And all of my trades look like the ones I posted above. They’re small-account profits from volatile stocks.

I’m not the only one using this process to profit. More important than my success: My students are banking in this 2024 market.

See the posts from X that I included below:

Source
Source

There is a specific process that we’re using for profits right now.

And my newest students have the benefit of AI to guide them in the right direction.

But the journey to consistent profits is still difficult. If trading were easy, we’d all be millionaires.

I posted 7 trading lessons on X that I learned over my 25 years of trading and mentoring … Digest this content and use it to fuel your journey forward.

7 Lessons From A Millionaire Trader And Mentor

© Millionaire Media, LLC

I’m a transparent trader in an industry full of fakes.

This is where I share ALL of my trades, wins and losses.

And listed below is everything that you need to know to continue your trading journey:

#1: Small Gains Add Up

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Small gains add up nicely over time.

The same strategy that a trader optimizes with 100 – 500 shares at a time, that makes small profits (and is boring at first), is the same strategy, more or less, with 10,000 – 50,000 shares where you can make life-changing money in a day or week.

I say “more or less” because these plays are scalable to a point.

Example: Jack Kellogg is one of my most successful students right now. He has to select his trades more carefully because his position sizes are so large.

Trading these small-cap stocks he can run into liquidity issues. Below there’s an example of a trade that Jack made recently, with a starting stake of $414,000:

Source: Profit.ly

Start small.

Scale up as you grow more confident.

#2: This Is My Rule #1 …

Always CUT LOSSES QUICKLY!

Here’s a video reminder:

Lock in singles. And don’t use leverage.

You can make more money with well executed trades on a small account than gambling wildly with a big account. Even if it’s FAR less exciting

More Breaking News

#3: Trade Scared

Scared money DOES make money thanks to crazy volatility.

Trading scared makes trading not so scary no matter what happens!

I’ve made $7.6 million from more than 100 countries trading like a coward. And I take much less risk than other millionaire traders who make more money than me … But they look 10 times older due to their stressful trading process.

#4: The Market Reality

90%+ of traders lose.

Not all the time, but mostly due to big losses caused by “black swans” that traders didn’t see coming no matter how many examples like $HKD, $ILAG, $FFIE, $TOP, $CAR, $TPST, $GME, $AMC they’ve seen but don’t learn from.

You do NOT have to risk blowing up to learn. Instead, find your groove, even if it’s more conservative than most others think. Stick with it and optimize it over time.

Consider donating a percent of your profits to charity to make the entire journey more meaningful! I donate 100% of my trading profits.

#5: Don’t Pay Attention To The Fakes

Contrary to what you hear from the industry, trading is NOT made up of fine upstanding people.

It’s nearly all degenerate addicts and greedy unscrupulous brokers and analysts. Stop looking for the approval of losers who like to brag about their wins, but refuse to detail their many more losses.

The vast majority in this industry are fakes. Even though looking at X, you’d think 90%+ of people win LOL.

#6: This Is An Option For Anyone

ANYONE can succeed from anywhere in the world no matter your background or how much or how little money and knowledge you initially have.

Trading is not as hard as many think since KISS works well (keep it simple stupid). But you must survive the initial learning curve and follow the rules to a T … There’s no cheating the prices.

Gambling will only lead to random results and frustration galore. If you look at the journeys of my 40+ millionaire students now, none of them made much or even anything in the beginning.

It’s all about building a foundation of knowledge the first 1 – 2 – 3 years then capitalizing on opportunities with better odds compared to the many unprepared degenerates who don’t study nearly enough. Then year 4 – 5 – 6 – etc. is gravy.

#7: Stick With It!

It’s a marathon not a sprint.

Stay patient, dedicated, and positive always … You have to build up your knowledge account before your brokerage account.

And it takes a lot of time and dedication, no matter what your doubters or haters say along the way. In fact, it’s useful to block all negative/toxic people from your feed and life.

You’ll have a far more enjoyable life.

My Students And I Are Here For You!

© Millionaire Media, LLC

I didn’t have a mentor when I started.

That was a hindrance in the beginning.

The reason why I have so many millionaire students now is because of my trading community.

  • We support each other.
  • We block out the hate.
  • And we help traders grow in the right direction with REAL trade examples on the hottest stocks.

You can join the next live stream to get your feet wet.

Make sure to wake up every day committed to learn something new about trading.

That’s the mentality a trader needs to achieve their goals.

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. Read More

* 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”