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Mentor Updates

Millionaire Mentor Update: Preparation Meets Opportunity

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Written by Timothy Sykes
Updated 4/17/2022 12 min read

Last week was a perfect example of what happens when preparation meets opportunity.

I’m gonna share a few numbers with you. But first I wanna make one thing clear. This is not about me bragging or showing off. This is all about you. You need to understand the opportunities in the market today. Right now.

Because I don’t know how long this will last. I don’t know how long we’ll be in lockdown. You can’t predict how long the coronavirus or the hot police equipment sectors will last. Who knows how long the holiday trading vibe will last…

There’s so much money at stake every day. All I can do is take it one trade at a time.

So far in 2020, I’ve made $279K in profits. In May, I made $106K. Last week I made $59K. And on Friday, June 5, I had my biggest day in years — $19,226 in profits.

(**My results are not typical. I have exceptional knowledge and skills developed over time. Most traders lose money and trading is risky. Do your due diligence and never risk more than you can afford.)

What you need to understand is, it’s not magic. There’s no secret. Instead, you need to face the facts. Remember, preparation meets opportunity is only half the quote…

“Luck is what happens when preparation meets opportunity.” 

— Seneca the Younger

It’s not luck, right? That was Seneca’s point. With that in mind, in this edition, I’m gonna change things up a little…

Trading Lesson of the Week

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I’m not trading perfectly. But there are so many freakin’ opportunities — so many plays — it’s allowing me to be better. It makes me look better. In reality, it’s just that the market is on fire. But that wouldn’t matter if I wasn’t prepared.

Preparation Meets Opportunity: Get Your Mindset Right

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First, don’t feel guilty if you miss a play. Don’t feel bad if you see someone else making $5K, $10K, or $15K on the day.

Get inspired.

Pay attention — this moment can change your life. I want more people to get prepared. On Friday, I made $19K but missed out on more. I only took a small part of the potential profits. That shows you how much opportunity there is…

The reason I’m able to make that kind of money in a single day and still miss out is preparation. The opportunity is there, and I’m prepared. But it’s not just me. My top students report crushing it. And it’s because they put in the time. They’re prepared.

Check this out…

When Preparation Meets Opportunity, It Can Change Your Life

Recently I’ve had a lot of newbie students say “Tim, it looks so easy.” Again, preparation meets opportunity.

Preparation makes it look easy because if you’re prepared there is opportunity. If you’re unprepared, trading can be very confusing.

Penny stocks move fast. Right now there’s a lot of volume and a ton of volatility. Again, this means there’s a lot of money at stake. So it’s imperative you’re prepared.

If you haven’t watched my “Volatility Survival Guide” yet, watch it today. I made it to help you understand what’s happening in the market. It can help you prepare for, and thrive in, this market volatility.

Three of my top students are great examples…

Three Students with Three Years of Preparation

Last week Kyle Williams reported making $18K. Jack Kellogg crushed it, reporting a $54K week. Matthew Monaco reported $18K.

In April, Matthew made $19K. That was his best month ever before he made $48K in May. Now, in one week, he made what his record month was two months ago. (I have a spotlight post about Matthew coming soon.)

But there’s a detail most newbies overlook…

This is Matthew’s third year in the Trading Challenge. It’s also Jack’s third year. And it’s year three for Kyle.

So are these guys special? No. They’ve studied their butts off. They’re a great example of what happens when preparation meets opportunity. And they’re also dedicated to paying it forward.

Last week I was a special guest with these guys on the TWIST (This Week in SteadyTrade) podcast. Check out the episode below.

Preparation Meets Opportunity: TWIST Episode

Why You Need to Put In the Time NOW

It’s not likely you’ll find a better market than we’ve seen the past few weeks. On the podcast, we talked a little about how it seemed to be slowing down. But the rest of the week was crazy. I don’t try to guess what’s coming. But I do know this … now is a great time to trade and a great time to learn.

So you really need to put in the time now. Study so that you can be prepared. Even if you’re not making big money right now, try to learn from it all. Then you’ll be prepared next time there’s market mania.

That time might be this week. Or it might be next year. Here’s my point — success happens when preparation meets opportunity. The reason it looks so easy for me and these students right now is that we’re prepared. We’ve all put in the time.

What Will You Do Today to Prepare for Tomorrow’s Opportunities?

Right now there are a lot of opportunities. But most of you reading this aren’t fully prepared. You don’t know the seven-step PennyStocking Framework to a T. You haven’t studied all my video lessons and DVDs. You haven’t watched Tim Grittani’s Trading Challenge webinars.

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Some people even say, “Tim, a webinar from two years ago doesn’t matter.”

Wrong. It’s all about studying the past. Right now you get the added bonus of witnessing a truly hot market in real time. Take advantage of it. Study the past and you’ll see how amazing this market is.

What About Hot Picks?

I’m pumped right now because I see how much potential there is if you can follow instructions. It’s an exciting time. Still, some people say things like, “Tim, just give me hot stock picks. I don’t need to study. I don’t need all this other stuff.”

This is what I have to say…

Never follow my alerts. Never follow alerts from anybody. Learn why I’m making a trade. Why am I entering? Why am I exiting?

Yes, there’s a lot of opportunity. But you need to study. You need to have the right tools. Then you can capitalize on the opportunity. So stop thinking about hot picks. Instead, study the past and learn from the present. Use that knowledge to prepare for tomorrow’s opportunities.

Here’s a good example…

Trade of the Week

This trade wasn’t my biggest win of the week. But it’s a perfect example of how you can bank when preparation meets opportunity. Check it out…

Digital Ally, Inc (NASDAQ: DGLY)

Digital Ally is a police equipment play — specifically, body cameras. DGLY spiked based on a tweet showing police wearing its body cameras.

Check out the DGLY chart from June 5:

DGLY stock chart
DGLY chart: June 5 intraday, 1-minute candle, breaking news play — courtesy of StocksToTrade.com

As you can see from the chart, I didn’t even take the whole meat of the move. But I made a profit of $3,450 in a few minutes.*

So how did I know DGLY was a good play?

First, I recognized the breaking news. (Get the StocksToTrade Breaking News chat add-on. This subscription can pay for itself … if you use it and you’re prepared.)

Second, I recognized it was a former supernova. Not in the last 100 days … not even the last year. But if you go back to the last time police brutality was being discussed like it is now…

… you’ll see it went full-on supernova. Here’s the DGLY 10-year chart…

DGLY 10 year stock chart
DGLY chart: 10-year, daily candle, former supernova — courtesy of StocksToTrade.com

Again, my trade last week was an example of preparation meets opportunity. I recognized the former supernova and the catalyst. I had the right mindset and the right tools.

Watch this video for more on my DGLY trade and…

Lessons From the Best Trading Day of 2020

How do you get from where you are now to that level of preparation?

Trading Challenge: Where Preparation Meets Opportunity

There’s no magic formula for getting rich. There’s no magic formula for learning everything right away. You can’t download the information like you see in movies. But you can work to speed up your learning curve…

My Challenge students get two to four live webinars every single week. That speeds up your learning curve. They also get access to the best trading chat room I’ve seen anywhere. That speeds up your learning curve.

The Trading Challenge is the best way I know to help you get prepared. And it’s where you see, again and again, how preparation meets opportunity. Matt, Kyle, and Jack aren’t the only ones. So many other students are crushing it in this market.

Apply for the Trading Challenge today. Come ready to work. No lazy losers allowed.

More Resources to Prepare for Opportunity

If you want more resources…

It’s imperative that you read “The Complete Penny Stock Course” by my student Jamil. All the big profits lately are due to preparation meeting opportunities.

Access my FREE penny stock guide here.

Get my “How To Make Millions” guide. All profits go to charity. Speaking of which, before we wrap up this edition…

Charity and Lockdown Update

Most weeks I start the update with this section. It’s super important to me, but I needed to get your attention about preparation. Why? Because when you’re financially free you can give even more.

We’re talking with a bunch of charities. Unfortunately, not much is happening with the virus everywhere. All the school-building has stopped. It’s sad but … we’ll get through this.

We’re still donating to Direct Relief and also Trunks Up to help the elephants in Thailand. There’s a video coming about that — more details soon.

Millionaire Mentor Market Wrap

Every day that you come to the battlefield unprepared, your risk of being decimated goes up. And every day you fail to prepare means more opportunities missed.

Here’s another opportunity for you…

On Friday, June 12, I’m hosting a Market Mastery 2020 all-day webinar. Trade live with me. Ask questions. Prepare now to take advantage of tomorrow’s opportunities.

Get into Market Mastery 2020 here.

See you there.

Success comes when preparation meets opportunity. What are YOU doing today to prepare? Comment below, I love to hear from all my readers!

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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”