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Lessons From Students

Matt Monaco’s 7 Lessons from the Brink of Trading Disaster to Success

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Written by Timothy Sykes
Updated 11/1/2023 9 min read

Imagine standing at a crossroads…

A secure, six-figure job in one direction, the unpredictable world of trading in the other.

What would you choose?

This was the exact scenario Matt Monaco faced in 2019.

With his trading account bleeding and a promising engineering career calling…

Matt stood on the brink of abandoning his trading trading dreams.

Yet, he made a decision that defied logic to many…he doubled down on trading.

What happened next is not just a story of financial turnaround…it’s a tale of unwavering determination.

Matt didn’t just save his trading career…he rocketed to becoming one of my top students…now nearing $2M in trading profits.

Source: Business Insider

How did he achieve this remarkable feat?

Matt distilled his journey into 7 crucial lessons, unveiled at my Las Vegas conference last week.

Before We Get Started

Before I share with you Matt’s 7 lessons it’s important to note that his success wouldn’t be possible without support.

In fact, during his live presentation in Las Vegas, he emphasized how important a role that having a community played for him.

Source: Millionaire Media, LLC


You see, most people view trading as another form of gambling.

Some believe it’s impossible to beat Wall Street at its own game…while others think money is the root of all evil.

Whatever the case, it’s not easy to find like minded people who share the same goals as you.

Not only did Matt find them, with the help of his community he began to thrive.

In fact, the seven lessons I’ll be sharing with you are ones he directly got from them.

#1 Focus On Longs – Tim Sykes

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I started out my career shorting penny stocks. The strategy made sense because the companies I shorted were pure pump and dumps. I had a lot of success with it, and it helped me on way to becoming a millionaire.

However, over the last few years I’ve basically stopped shorting?


Because the strategy has gotten overly crowded.

Not to mention, the risk vs. reward has shifted greatly.

If you have a small account and are trying to grow it, then try to focus on taking longs only. That’s what Matt did, and continues to do so.

#2 Date the stock, don’t marry it – Tim Bohen

bohen and nasdaq
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We’ve had so many epic short squeezes over the years…

Imagine buying a stock at $0.50 and seeing it go to $10…$20…or even higher.

So many new traders fall in love with the idea of hitting the homerun trade.

But the majority of penny stocks are pure garbage. Matt learned from Tim Bohen to look at these setups as trades only…and not to fall in love with them.

I myself always advocate to take profits along the way…a strategy that has served both Matt and I well.

#3 Understand the stock’s WHY- Michael Goode

Goode, Sykes, Grittani
© Millionaire Media, LLC

So many newbie traders get caught up in the PnL and never really improve.

Every trade offers a learning lesson. What Matt learned from Michael Goode was to be curious.

Start asking questions…

Why is this stock moving, is it sector related, does it have to do with market structure (low float, high short interest, etc.)? Or a specific catalyst?

By being curious you will be able to pick up on trends faster which potentially lead to bigger and better trading opportunities.

#4 Start with the Big Picture – Tim Grittani

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Often we’ll get excited about a catalyst or setup but fail to see the big picture. One thing Tim Grattani does and something Matt has adopted has been to look at the big picture.

For example, instead of looking at a one day, one-minute bar chart, take a look at the daily chart, or the weekly chart.

Does the stock have a history of big spikes?

Are there key levels of support and resistance?

Sometimes the past will give us clues about the future.

#5 Small Losses are Key – Michael Hudson

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Becoming a consistently profitable trader doesn’t happen overnight. For some folks, it never happens.

But if you want any chance at it then you must keep your losses small.

Something I always preach and something Matt picked up from Michael Hudson.

The name of the game your first few years is building up that knowledge bank.

Learn while taking small losses. And don’t let one or two trades take you out of the game.

#6 Look where others aren’t – Jack Kellogg

jack kellogg and sykes in italy
© Millionaire Media, LLC

I’m not going to lie…this is an advanced tip that Matt picked up from Jack.

It basically means to try to anticipate what will happen next.

For example, if one stock from one sector is firing off, it could create some sympathy plays.

If one area of the market is working, is there a similar area that could gain momentum off that?

Again, this is more advanced, but something successful traders attempt to do from time to time.

#7 Wait for the best – Kyle Williams

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One thing that is often misunderstood about trading is that it’s always action packed.

While it’s true… trading can be exciting at times…that’s not always the case.

In fact, what Matt learned from millionaire trader Kyle Williams is to not rush into trades and to be patient.

If you know there is a certain setup that you excel at as a trader…doesn’t it make sense to focus on that setup?

Of course it does…

However, some traders are such action junkies…they are willing to trade anything that moves.

No wonder why so many of them lose money…

Top traders like Kyle are extremely patient…and are willing to sit on their hands until the right setup comes their way.

🚀 Discover The Most Crucial Trading Lessons at Our Next Live Training 🚀

matt monaco tim sykes and kyle williams
© Millionaire Media, LLC

🔍 Stuck at a crossroads in your trading career? Wondering how to pivot from near-failure to success?

Matt Monaco’s story is a roadmap you can’t afford to miss.


📉 From the brink of quitting to skyrocketing near $2M in profits, Matt’s journey is nothing short of inspirational.

But how did he do it? How did he turn around a failing strategy and not just survive, but thrive in the trading world?

👥 It’s all about community, strategy, and knowing when to act. Matt’s seven lessons, each a gem mined from the experience of seasoned traders, could be the key to unlocking your potential.


1️⃣ From focusing on longs to understanding the stock’s ‘why.’

2️⃣ Seeing the big picture to keeping losses small.

3️⃣ Looking where others aren’t to waiting for the best setups.


💡 These aren’t just tips; they’re a transformation in approach. And they’re all waiting for you at our next live training session.


👁️‍🗨️ Witness firsthand as we dissect these lessons.

📈 Learn how to apply them to the current market scenario.

🌐 Join a community that supports and grows together.

⏰ Don’t let another trade go by without this crucial knowledge. The time is now to reshape your trading strategy, just like Matt did.

🔥 Are you ready to learn from a true trading turnaround story? Eager to apply these lessons to your own trading journey?

✅ Your opportunity to elevate your trading game is just a click away.



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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

* 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”