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.
On June 3, 2020, I announced that Matthew had passed $100K in profits*…
I am SO proud of this dedicated https://t.co/EcfUM63rtt student, I'm about to start a weekly webinar with them, but I LOVE seeing milestones hit, yesterday @clayruf passed $100k in profits too, remember small gains add up, congrats to everyone on $GNUS $MARK $CIDM what a day! https://t.co/eJSmhYft4i
— Timothy Sykes (@timothysykes) June 3, 2020
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.)
Table of Contents
How Does It Feel to Be a Millionaire?
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.”
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.*
If you've studied @30DayBoot & @completepenny you're aware of how this game works, but sadly most don't take their education seriously & when their pump spikes big, they don't want to learn the risks. This is why I love teaching, cutting through the BS & helping those who need it
— Timothy Sykes (@timothysykes) February 15, 2021
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*
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…
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…
Think of yourself as a retired trader, only come out of retirement when there's a play so good, you'd feel guilty missing it
— Timothy Sykes (@timothysykes) October 27, 2015
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.”
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.