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Trading Psychology

How To Make Time For These Trades

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Written by Timothy Sykes Reviewed by Jack Kellogg Fact-checked by Ellis Hobbs
Updated 10/18/2024 4 min read
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Welcome traders,

Ladies and gentlemen, what a market!

Last week we watched Bright Minds Biosciences Inc. (NASDAQ: DRUG) spike 2,600%*.

And it wasn’t the only runner.

There are multiple mind-blowing spikers every week in this 2024 market.

Don’t forget the list of runners that I shared on Saturday:

This volatility starts again today, Monday, October 21.

But too many people ignore these opportunities because they think that they don’t have time to trade.

Wrong! If anyone doesn’t have time, it’s me LOL.

Last week I was trading from a tent in Africa as DRUG shot to the moon. I’m doing some charity work to help save the rhino population. See my post on X below:

If I can trade from a tent in Africa while running a charity … You can certainly find a few opportunities this week.

Here’s where to look:

When To Trade

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You’ve gotta wake up early.

The market is open for regular hours from 9:30 A.M. to 4 P.M. Eastern.

But right now we’re seeing some of the strongest spikes during pre-market hours, between 4 A.M. and 9:30 A.M. Eastern.

Which means you can trade in the morning and still make it to your day job!

More Breaking News

Now, maybe you don’t want to wake up early for profits … That’s on you.

Understand, sacrifices must be made for success. Anything worth having never came easy!

My students and I noticed that these plays started to spike during pre-market hours, so we started to wake up earlier.

Take a look at some examples below:

Source

I also outlined last week’s premarket spikers in the YouTube video that I posted below.

These patterns repeat in the market! Take notes on last week’s runners:

 

Once you find a strong spiker during pre-market hours this week, use the ticker to prompt our AI trading bot.

The AI will spit out a trade plan as if you asked me directly!

Enter the stock’s ticker here.

Cheers

 

*Past performance does not indicate future results

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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”