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Trading Recap

6 Lessons From This Solid Weekend Setup

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Written by Timothy Sykes
Updated 11/30/2023 6 min read
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Numbers don’t lie…

When I tell people my weekend trade is among the most profitable strategies I’ve ever traded…

I have the numbers to back it up…

Nearly 3k trades with an average gain of 19.3% per trade!

Best of all, I believe this is one of the simpler strategies to learn…ideal for traders with small accounts and are relatively new to trading.

Today I’m going to walk you through my last weekend trade, and the six reasons why it was a solid setup.

My Weekend Trade in ATRA

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While most of Wall Street is packing it in on Friday…gearing up for the weekend…I’m scouring looking for one final trade.

Last Friday, it was in the ticker symbol ATRA.

Here are the six reasons why I thought it was such a beautiful setup. And while this specific trade opportunity is gone…the logic behind it is still relevant. And one I will be using again this upcoming Friday.

#1: Upcoming Catalyst

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The company announced it would be presenting at a conference on Tuesday. My thinking is that traders would bid up the stock leading up to the event. And since I was getting in late on Friday, there would be a chance we could get some hype around it on the weekend, and possibly see the stock spike early on Monday.

#2: Recent Investment News

According to an SEC filing…the company had recently secured a new investor. Does this smart money investor know something we don’t?

While I don’t know for sure…experience tells me that traders tend to think news like that is bullish…and they’re likely to bid the stock up.

More Breaking News

#3: Strong Chart Pattern

Another thing that really appealed to me about ATRA was that the stock was breaking out of a multi-day range…

Not only was this bullish…but it was likely going to attract momentum traders into the symbol.

Source: StocksToTrade

#4: Good Entry Level

The highs were around $0.71…my goal was to get in below that level. If I could get an entry in the low $0.60s I felt it had a good chance to at least get back to the highs or even blast through it.

Source: StocksToTrade

#5: Risk Management Strategy Established

My goal was to get in the low $0.60s and get out in the $0.70s. And if it didn’t happen I would cut losses quickly.

I always have a plan. Most of the time the trade doesn’t work out perfectly, but the fact that I’m prepared to cut losses quickly enables me to execute without getting emotional.

#6: Timing of the Trade

Look, no one knows for certain whether a stock will go up or down. But if you can stack reasons why and have a risk management plan then it makes sense to give it a shot.

I spotted all these reasons why I thought ATRA had a shot at going higher. And because it was so late on a Friday, my thinking is more traders would pick up on this over the weekend and on Monday morning.

That’s how the weekend trade works!

And if you’ve been following me on social media then you know that the weekend trade has been working well lately.

Before last week, I had a great trade in the ticker symbol SHOT.

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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 (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”