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Student Hits $10 Million Profit Milestone

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Written by Timothy Sykes
Updated 6/29/2022 6 min read

A lot of traders can talk the talk. But not many can walk the walk.

Social media is littered with plenty of supposed ‘gurus’ who claim to be great traders.

I take pride in the transparency of my trades as well as the success of my students.

Just this week, Jack Kellogg of Breakouts & Breakdowns hit an incredible milestone…

I couldn’t be more excited for his success.

Now, Jack’s success didn’t come overnight.

In fact it took him years to find consistency. And it’s that turning point that I want to highlight.

It’s a key juncture many traders struggle with that I understand well.

Let me offer some key tips to finding profitability that anyone can implement right away — these tips can improve your trading too!

Every Day is a Chance to Change Everything

jack kellogg and tim sykes
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In the back of my mind, I always hear a little voice that says “Time is money.”

We all get into trading for one reason: to make money as soon as possible.

Unfortunately, that mentality holds many people back.

Trading is like any other skill or business. It’s rare to make money right out of the gate.

Most of us, including myself and Jack, pay our pound of flesh.

Here’s a good example.

Jack joined my Trading Challenge back in 2017, attending his first trader and investor summit.

A year later, he almost quit after losing 1/3rd of his account in two days.

Many of us have been in that situation.

And I will tell you something that everyone should know…

No matter what’s happened in the past…

Every day is a chance to change everything.

By September of that same year, Jack’s trading found consistency.

Slow and Steady Wins the Race

jack kellogg and sykes in italy
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Learning doesn’t require you to blow up your account.

In fact, there’s nothing that says a trader has to use real money while they learn.

Finding consistency takes time, practice, and patience.

There are markets for earning and there are markets for learning.

2021 was a market for earning.

2022 is a market for learning.

Right now, I reduced my size so that I can let the law of large numbers work.

In 2021, I could ride a stock for days and not worry about a violent pullback.

Today, I keep my size small and test the waters across different sectors as money rotates through the market.

More importantly, I wait for the stock to come to my entries as I refuse to chase the trade.

That way, I can cut the stock for minimal losses when the setup peters out or even for small gains.

Focus on Decision Making

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Every single one of my trades is posted on profit.ly.

Without a trade log, I’d quickly forget what happened last week, let alone last month.

Trade logs are invaluable for identifying the areas a trader needs to focus on and correct.

You see, mistakes are one of the biggest account killers out there.

I’m not talking about a fat finger here or there.

I’m referring to decisions you make like ignoring your stops or not sizing your position correctly.

None of us can control what the market does.

That’s why setups have a probability of success, not a guarantee.

Go look at Jack’s profile and you’ll see that his win rate is around 62%.

No trader wins 100% of the time. Losses are inevitable.

But, like poker, if you make the right decisions that stake the odds in your favor, eventually, things will work out in your favor given enough trades.

Trade logs can also help you find which setups work best for you along with the ones worth tossing.

This is especially true in today’s market.

I’ve found that morning panic dip buys are more prevalent and profitable at the moment.

More recently, I’ve seen some Supernova patterns start to emerge.

We’re all busy, even if our life is about trading.

A log makes sure you can objectively look at what’s happening and clearly see the trends emerging.

Final Thoughts

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Trading is a marathon, not a sprint.

Focus on getting really good at one thing at a time. Then add something else.

Breaking the process down helps make it manageable.

And when you’re ready to join Jack…

Click here to take my Trader Challenge.



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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”