The One Surprising Thing Keeping Me Profitable Now
We live during uncertain times — new COVID lockdowns in China, volatile oil prices, inflation, the Russia-Ukraine war. Just look at this headline…
It’s a lot for any day trader to take in. Yet I’ve been able to stay profitable in 2022. It hasn’t been easy. I’m trading differently from last year because the market’s so volatile — but maybe not in the sense you might think.
Since January the S&P 500 ETF TRUST ETF (NYSE: SPY) has been in a downtrend. Traders everywhere are feeling the pain…
But I’ve been day trading penny stocks for over two decades. I’ve seen a lot in that time, hot and slow markets alike.
I’ll share the strategy I’m using to stay profitable right now, but first…
See My Trades
Over the last two weeks, I’ve only made five trades.
Almost $7,000 in two weeks is pretty good, but during the same time last year, I made almost $100,000…
That’s my undeniable proof that we’re in a different market environment right now. So I’m using a different strategy…
How I Stay Profitable in Any Kind of Market
It’s not that I’m doing anything drastically different.
I’m still looking for my favorite patterns that I’ve used for 20+ years. And I still follow the Sykes Sliding Scale to assess every trade opportunity.
The #1 thing that keeps me profitable — in any kind of market — is adapting to the market as it is now. It’s as simple as that.
Check this out: During this time last year, I profited more … but I also made more trades — a total of 74 to be exact.
That’s crazy! Now, I only make a trade when a setup meets certain criteria. So I made more plays in that time frame because there were more ideal setups.
In 2022, the market has changed. And after spending decades researching the science of consistent trading profits, I know adapting is key.
I still lose every now and then — about 23% of the time. So this is crucial too: I stay profitable by keeping my losses smaller than my gains.
Here’s a fact that might surprise you: I’m not even that good of a trader. A lot of my students do better. Take Tim Grittani, for example. He’s locked in over $13.5 million in profits so far.
Jack Kellogg has made over $9 million.
Learning to day trade isn’t as complicated as you might think. But it takes a lot of hard work. That’s one thing all my millionaire students can agree on.
If you think you’ve got the work ethic …
Apply for my Trading Challenge today!
This is no joke. My students and I show up to study. So I make sure to keep the BS out.
How many trades do you make a week? Leave a comment and tell me how you’ll start engaging with your day trading education.
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Hey Everyone,
As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!
Which is why I've launched my Trading Challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.
So when you get a chance make sure you check it out.
PS: Don’t forget to check out my 30 Day Bootcamp, it will teach you everything you need to know about trading.
Knowledge supports growth and development.
I am a beginner now using the time to study up!!
YES! Study HARD!
As a newer trader, I decided to stop trading about 10 days ago. I think with the war and inflation its just to hard to find great setups right now. Like I have been taught, I’m using this time to study up until things change. Thanks Tim!
GOOD! There are solid opportunities but if your setups aren’t in play then it’s best to observe, study, and learn.
I have been trading in my Fidelity 401K account, but it takes 2 days for the funds to clear after a stock sell. So, I will convert a portion of the Fidelity 401K to a Fidelity IRA which will allow for much faster trade completion so that I can buy and sell on the same day. When you sell a stock how long does it take for the funds to clear to make a buy? I do not have an account on Facebook, Twitter or Instagram.
The T+2 rule applies to all cash accounts. The other option is to use a margin account which I don’t suggest for beginners. Focus on trading less — only the best setups.