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How To Trade In 2024: Examples + Testimonies

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Written by Timothy Sykes
Updated 7/9/2024 7 min read
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The market is ON FIRE right now.

And there are opportunities galore for traders who understand my trading process.

Yesterday we watched Soligenix Inc. (NASDAQ: SNGX) spike 500%*. And it wasn’t the only setup … See my post on X below:

Here’s a chart of the SNGX spike, it started to run after the company announced its Lymphoma treatment showed positive efficacy.

Every candle represents one trading minute:

SNGX chart intraday, 1-minute candles Source: StocksToTrade

My students and I had eyes on this stock during premarket!

The first mention in the Challenge chat was at 7:43 A.M. Eastern … In the screenshot below, read from the bottom to the top.

Source: Profitly

And here’s one of my student’s posts on X, detailing their trade on SNGX from Tuesday:

Source

This volatility is FAR from over.

The overall market is on a huge push higher, and tomorrow, July 11, we learn CPI inflation data for the month of June. That’s likely to inspire even more market volatility.

Curious how my students and I profit?

Study this process:

What’s Working Right Now

jack kellogg and sykes in italy
© Millionaire Media, LLC

I already made three trades this week on the same stock.

Once I find a runner that matches my pattern, I follow that price action for more profit opportunities.

If it ain’t broke, don’t fix it!

Take a look at my profits from Zapp Electric Vehicles Group Limited (NASDAQ: ZAPP) earlier this week:

Source: Profit.ly

I’ve taught this process to countless students. I have over 40 millionaire students to date …

Here’s an example of my students applying this same process to a different stock:

Source

Once a trader grows comfortable with this strategy they can apply it over and over again on the next profitable setup.

And this is the best part: Traders can start with a small account because the stocks that we trade are cheap. Then they can size up over time using THE SAME trading strategy.

That’s how all of my millionaire students started. For example, Jack Kellogg is one of my most successful students with $12.7 million in trading profits, but he’s no exception!

Jack joined the Challenge in 2017 with $3,000 saved up from his valet job.

And look at him now! See my post on X below:

This is where Jack posts his top trade setups.

There is SO MUCH opportunity in this market. A trader just needs to learn this process …

Trade And Study At The Same Time

sykes studying on laptop
© Millionaire Media, LLC

A few years ago, when Jack started, the study process was different. Very different!

A new trader had to tune in for trading live streams. They had to study my past trades, and largely assembled watchlists by themselves without guidance.

There’s only one of me … I do what I can! But sometimes things fall through the cracks.

With that process, I was able to grow my cohort of millionaire students at a decent pace. But in 2024, we hit a major breakthrough.

The emergence of AI added a lot of value to the market as a whole. But for traders in our niche, there’s one MAJOR advantage.

The trading patterns that we follow aren’t complicated … The complications arise when traders don’t follow the rules. They get greedy and they stop following the patterns.

I taught an AI bot how to follow my trading process. And it HAS to follow my rules LOL.

In 2024 it’s calling solid trade setups. Setups that my students can follow even if I’m unreachable on a plane or without WiFi in some remote location (I’m an avid traveler).

Below is a screenshot of the AI watchlist posted on July 8 at 3:15 P.M. Eastern.

Source: XGPT

The top two stocks, ZAPP and MYO … Take a look at what happened the next morning, July 9.

Every candle represents one trading minute:

ZAPP chart multi-day, 1-minute candles Source: StocksToTrade
MYO chart multi-day, 1-minute candles Source: StocksToTrade

Get the next AI watchlist!

Let the AI bot guide your trades. It follows my process for profits.

And it gives traders potential entry and exit positions that focus on risk mitigation.

This is smart trading.

Sustainable trading.

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”