timothy sykes logo

Trading Recap

How I Snagged $1,750* In Minutes …

Timothy SykesAvatar
Written by Timothy Sykes
Updated 3/4/2024 6 min read

There have already been HUGE opportunities to profit this week.

I snagged $1,750 in a matter of minutes on Ocean Biomedical Inc. (NASDAQ: OCEA), starting stake of $15,550. The stock spiked 80% yesterday.

80% gives us a lot of room for error. And that’s key!

It’s almost impossible to time these plays perfectly. Instead, we take the meat of the move. I snagged a cool 11% on OCEA. That’s all it takes.

And I wasn’t the only one to trade it. My students are on fire right now!

You have to understand the insane opportunities at our fingertips in 2024.

The market isn’t always this hot!

It’s all thanks to the AI and tech momentum that started in early 2023. The run is reaching a fever pitch right now.

The sector leaders are surging to new heights and they’re bringing the whole market with them!

Take a look at NVIDIA Corporation (NASDAQ: NVDA), it spiked to new all time highs:

NVDA chart multi-month, 1-day candles Source: StocksToTrade

So did Super Micro Computer Inc. (NASDAQ: SMCI), and this company is set to join the S&P 500:

SMCI chart multi-month, 1-day candles Source: StocksToTrade

Stop sitting on the sidelines!

You don’t need to trade the expensive stocks to profit. We just watch the sector leaders to keep an eye on momentum.

OCEA never traded above $4.

Time is of the essence: No one knows how long this momentum will last. We know that it’s easier to profit when the market is hot, 3 out of 4 stocks follow the market …

That’s why you need to pay attention right now!

How I’m Trading Right Now

© Millionaire Media, LLC

It’s all about support and resistance.

We have to trade the right stocks, but once we find the hottest ticker, we analyze past price action to plan a ‘safe’ entry.

If you’re unfamiliar with the concept of support and resistance there’s a video below:

And you can see in my trade notes how important this is:

Source: Profit.ly

Here’s my trade overlaid on a chart:

OCEA chart intraday, 1-minute candles Source: StocksToTrade

Hindsight is 20/20.

I know it looks simple on the chart above. New traders have to gain experience before they can effectively profit off of these runners.

Understand this harsh reality: I already mentioned that 3 out of 4 stocks follow the market. It’s easier to get lucky right now.

But when the market inevitably pulls back, a laissez faire trading strategy will come back to bite you in the butt. My Tweet below explains this essential idea:

My students and I are banking right now because we’re prepared.

And we know the reality behind this market: These opportunities won’t last forever.

  • Get in.
  • Get out.
  • Pat yourself on the back and get ready for the next one.

Here’s how I find the hottest stocks:

Take Advantage RIGHT NOW

Tim Sykes pointing at you.
© Millionaire Media, LLC

We use support and resistance to find perfect entries and exits on the market’s hottest stocks.

But … Even the best trade pattern is useless if you choose the wrong ticker.

I use StocksToTrade Breaking News to find stocks that are spiking before they go vertical.

I’ve been in this industry for over 20 years. I have over $7.5 million in trading profits. And I still use Breaking News.

For decades Wall Street’s been paying for early news, before the public. They get privileged reports because they have the money to spend.

That’s a huge disadvantage for small-account traders.

Breaking News is my solution.

It’s run by 2 former Wall Street hedge fund guys. They alert at lightning speed the kind of news that moves stocks.

It’s less work for me, and I get eyes on these stocks earlier.

Use StocksToTrade Breaking News the next time you plan on trading! Here’s a link for a $17 trial.

The early bird gets the worm …

Cheers.

*Past performance does not indicate future results


How much has this post helped you?


Leave a reply


Author card Timothy Sykes picture

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

Post image

Get my weekly watchlist, free

Sign up to jump start your trading education!

* 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”