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Matthew Monaco Milestone Alert: My Latest Millionaire Student!

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Written by Timothy Sykes
Updated 1/4/2023 14 min read

I’ve got another Matthew Monaco milestone to report … He’s now officially a millionaire! As of February 18, 2021, his profits are currently 1,465,582.12.*

I know it might seem like it happened fast, but Matthew has actually been studying and trading for years since he joined my Trading Challenge in 2017.

He’s worked hard to refine his strategy. So when this hot market hit, he was prepared. Since 2020, his growth has been exponential … Take a look at his profit chart.

On June 3, 2020, I announced that Matthew had passed $100K in profits*…

Less than a year later, he passed the million-dollar profit mark.*

Let’s take a closer look at what’s going on in his trading career and life … Most importantly, how he’s staying humble and protecting his gains after passing this impressive milestone. Plus, some exciting new projects he’s working on…

 

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(*These results are not typical. Individual results will vary. Most traders lose money. Traders like Matt and I have the benefit of many years of hard work and dedication. Trading is inherently risky. Always do your due diligence and never risk more than you can afford to lose. I’ve also hired Matt Monaco to help in my education business.)

How Does It Feel to Be a Millionaire?

If you’re a Trading Challenge student, you’re probably already familiar with Matthew’s name. He’s a moderator in my chat room. We collaborated on my 30-Day Bootcamp.

He’s in a lot of my videos on YouTube, too…

But if you don’t know Matthew, here’s his story in brief…

  • Matthew started trading in 2017.
  • After some initial losses, he decided to get real about his education and applied for my Trading Challenge.
  • He was a dedicated student. In fact, he even passed up a college internship opportunity to focus on studying my DVDs, webinars, and other Challenge resources.
  • In 2020, things really clicked for him, and his account began to grow*…

Some traders remember January 25, 2021, as the day that the GameStop Corp. (NYSE: GME) short squeeze hit its pinnacle.

But it was also the most exciting Matthew Monaco milestone to date — he passed the million-dollar profit mark!*

It was also the day he joined me in filming this amazing Q&A session with some of my other top students … It’s a must-watch for new traders:

Now that he’s got a full month of experience as a millionaire, how does he feel?

Well, he’s psyched — and he should be. But he’s not letting it get to his head. 

He says, “The million-dollar milestone is huge for traders. Everyone wants to get there … But once you pass it, it becomes less about the money.

“You’re finally in that exclusive 7-figure club. There’s a sense of relief, like, ‘I did this … now I can just enjoy trading.’”

How Will Matthew Monaco’s Milestone Change His Focus?

For Matthew, reaching the million-dollar mark has removed the pressure to pass it* … Now, he can focus on being the best trader he can possibly be.

He wants to keep refining his strategy and is interested in expanding into swing trading, too…

But don’t worry, he’s taking time for fun, too. He recently helped me surprise another new millionaire trader, Kyle Williams, with a very healthy feast*…

 

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Overall, he says that he’s still looking to fellow traders like Tim Grittani, who’s up over $13 million in profits*, and Jack Kellogg, who’s up over $5 million in profits* as of mid-February 2021. They inspire him to keep improving…

But he also acknowledges that something he loves about trading is that you really can choose your own path. It’s not a 9-to-5 job. “It’s up to you and how far you want to take it and what level you want to reach.”

Educating Others

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Another growing interest of Matthew’s? Educating aspiring traders.

He says, “I want to start teaching people and spreading the knowledge that I have. There’s just so much misinformation out there and people need solid guidance. Not that I’m a master expert, but I know more than most and I’m willing to share it.”

He’s on the right path. He helped me make my 30-Day Bootcamp, an incredible resource for new traders who are trying to cut through the BS and really understand how penny stocks work.

Actually, Matthew just filmed a bonus chapter for the 30-Day Bootcamp … It features the biggest lessons he learned along the way to this recent million-dollar milestone.*

He’s also a co-host of the TWIST (This Week in SteadyTrade) podcast, which is a must-listen for traders who want to learn about the penny stock niche and specific patterns…

Small Cap Rockets

Matthew’s also one of the masterminds behind Small Cap Rockets, an alert service featuring Q&A sessions, monthly webinars, and more…

Right now, the newly-updated service is available for a bundle deal with StocksToTrade. In the bundle, you can get one year of the STT platform, one year of Small Cap Rockets, and a 3-month subscription to the amazing Breaking News chat.

(Quick disclaimer: I helped design and develop StocksToTrade and am an investor in it.)

Another Matthew Monaco Milestone: His Best-Ever Trading Week*

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The week of February 8, 2021, was Matthew’s best trading week to date — he made over $300K in profits.*

Seriously. It took him years to pass the $100K mark* … Less than a year later, he made triple that amount in a single week!* 

As he puts it, the market was in a state of “peak euphoria — especially in the OTC market. I’ve never seen so many runners.”

Since he’s been scaling up with bigger positions, his wins were bigger than in the past — but there was no single ‘blowout’ trade.

It was all about sticking to his go-to patterns, adapting to what was hot at the time, and aiming for singles.

Adapting to the Hot Market

In my last post about Matt, I shared how his favorite pattern is the ABCD pattern.

It goes like this … First, a stock rips at the open. Then it pulls back. Sometimes it’s just for a few minutes — sometimes it’s for hours.

Matthew enters during the consolidation period after the stock finds a low. That helps him define his risk level. Once it creates support, he enters the trade as the stock finds a new uptrend coming out of consolidation.

That pattern tends to work better for listed stocks … With all of the OTC craziness that’s been going on, he’s adapted.

Not sure about the difference between listed and OTC stocks? Check out this video…

Recently, he’s been playing OTC breakouts. Sometimes he has a variation of the ABCD pattern that he uses with OTCs as an afternoon play…

He’s not so attached to his favorite pattern that he’s unwilling to adapt. The market’s constantly changing. And he knows adapting is key to stay in the penny stock game for the long haul.

Tips for Newbies

If you’re a new trader who’s subject to the pattern day trader rule (PDT rule), Matthew feels your pain.

He was under the PDT for about two full years. As he acknowledges, “It sucks but it’s also a safeguard. It makes you focus on the best plays. So it forces you to sift through all the plays and find the really good ones.”

This is actually a good thing. This habit will serve you throughout your trading career — whether you ever get over the PDT or not.

But don’t think that everything’s easy once you’re over the PDT. The FOMO is real!

For a long time, Matthew actually kept his account sized at $28K to $30K *— not too far over the $25K PDT threshold. Why? Because it kept him close enough to know that if he overtraded or took a big loss, he’d be back under the PDT.

He used this as motivation to stay disciplined. As he puts it, “You need to protect yourself from yourself.”

It’s actually not all that different from the retired trader mindset I’ve adopted for YEARS…

Protect Your Gains

Matthew’s happy about what he’s achieved … But he knows he’s gotta stay humble. “As much as I would like to say I’m some great trader, I’m really just a good trader.

“What I’ve done is a direct result of the opportunities in this market. I know things will dry up or diminish eventually … Right now my biggest goal is to protect what I’ve made.”

Study Hard

I hope everyone reading will take a cue from Matthew … His results are not typical, but they’re also not just the result of dumb luck.

His work ethic and dedication are incredible. He’s put in the time to become the smart, calculated trader he is today.

Learn from his inspiring trading journey. Let it motivate you to work hard toward your goals!

Are you ready to study and work hard? Consider applying for my Trading Challenge.

Please leave a comment to congratulate Matt and tell him what you found most inspiring about his story! I love reading your comments.


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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

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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 (205) 851-0506 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”