timothy sykes logo

Success Stories

Top Tips From Mike “Huddie” Hudson’s $1 Million Year

Timothy SykesAvatar
Written by Timothy Sykes
Updated 11/2/2021 9 min read

Huddie’s Million-Dollar Year: Key Takeaways

  • What Huddie started during college … I bet his classmates wish they’d done this!
  • See how when the markets exploded in 2020, Huddie was primed for action…
  • Huddie’s top lessons for overcoming the woes of a beginning trader…

Apply for my Trading Challenge today!

In August, I joined six millionaire students in Italy to celebrate some big milestones. Mike “Huddie” Hudson was in that group. So we had a chance to discuss his incredible million-dollar trading year.

Check out the video below! And read on for Huddie’s top tips for traders.

Huddie’s $1 Million Year

huddie smiling on ledge
© Millionaire Media, LLC

In this video, you’ll learn…

  • Who Huddie answers to in his trading — no matter what
  • How Huddie took advantage of the crazy 2020 markets
  • The importance of finding low downside/high upside opportunities
  • Why IQ doesn’t determine a great trader
  • The goal Huddie had as a younger trader

Let’s dive in!

5 Trading Tips With Millionaire Mike “Huddie” Hudson

Let’s break down Huddie’s tips for traders

#1. Remember Who’s in Control

© Millionaire Media, LLC

Who’s in control of how much you risk? YOU.

Remember that. It’s important. A lot of people like to blame their problems on others. But you’re in control!

If you lose more money than you wanted, it’s because you chose to risk more than you should have.

Be accountable. Stay safe and learn how to trade with the right rules. And again, remember that you’re in control of how much you risk.

Huddie says he found more success in trading once he learned to manage his risk.

#2. Adjust and Adapt to the Markets

mike huddie sitting at laptop and thinking
© 2020 Millionaire Media, LLC

Huddie was one of many students who took advantage of the influx of new traders in 2020…

“The first time we had to adjust to the market was 2020 and 2021. The stimulus checks came into the market, and it just seems like everyone was a day trader all of a sudden. And that provided a lot of opportunity. 

“When dumb money comes on the market, that’s when we succeed. That’s why we trade penny stocks. We don’t want to trade against hedge funds. We don’t want to trade against algos. We want to trade against Joe Schmo.”

Huddie saw such a great opportunity that he sized up. It taught him how to deal with larger trades and provided that “level up” that traders see along the way.

The time of year can help, too. Huddie finds that he struggles in the summer months when the markets are typically choppier. He takes more time to study charts and find setups he likes.

This means not trading every day. Patience is a big part of trading, too. I don’t like being patient. I like to be there when the big moves are happening…

And that’s what’s great about trading. Some people have said that if I teach too many people, everyone will trade the same and the great opportunities will go away.

But my 7-step framework still works after all these years. And traders like trading different steps.

Everyone has their own way of playing the game.

#3. Focus on Risk/Reward

© Millionaire Media, LLC

I asked Huddie about the number one problem he sees with traders. Here’s his response…

“I think it’s focusing on risk/reward instead of percent gain, percent loss…

“I think what boils down to all the great traders is we know how to manage risk/reward, how to risk a penny and make 10. And you can scale that any way you want.”

A lot of traders get hung up on making or losing a certain percentage. But the most successful traders focus on how to make a lot by risking a little.

To figure that out, you have to learn by losing first.

There will be opportunities where you can risk a small amount and still see a lot of potential upside. But you have to know how to find those situations. That’s where hard work and studying come into play.

This can also push traders into a fear-driven mindset. They don’t stick to their plans because they don’t want to lose money.

Trading with some level of fear can be helpful.

But losing and the lessons that come with it can help you nail down a plan that works FOR YOU. You just have to be willing to stick with it.

#4. Don’t Think You’re Not Smart Enough to Trade

© Millionaire Media, LLC

Huddie watched me succeed and knew he could do it too.

As he gained experience, he says it was “also recognizing that the millionaires weren’t the smartest people. And that’s not an insult … but we’re not geniuses. We’re not mathematically insanely smart. We don’t have this crazy IQ.”

I won my fifth-grade spelling bee, and it’s been downhill since then. I still can’t spell the word algorithm without spell check…

Trading isn’t rocket science. A lot of it’s pattern recognition and learning.

Trading in the markets is similar to how athletes train. The top dogs don’t show up to the NBA Finals with no preparation. They spent years doing work when the lights were off and nobody was watching.

You’re building muscle memory over time. You recognize the patterns because you’ve stared at the same charts for months or years.

Slow times in the market can be great for that reason. Learning during those slow months helps during the crazy times when you have amazing trades left and right.

Huddie and I were just like you at one point! He was in sales and didn’t want to be locked down in the 9-to-5 life. Now he’s here.

See what’s possible — and be willing to work for it.

#5. Ask Questions, Be Teachable, Set Goals

tim sykes and michael huddie sitting at table looking at laptops
© Millionaire Media, LLC

Huddie came up on stage at our last Trader & Investor Summit with one of his old journals.

He read a goal he’d written when he was a younger trader: “Sit next to Tim on stage.”

See how setting goals can be powerful! Wouldn’t it be cool to look back a few years from now and see how you reached the goals you set? That’s what he did…

Huddie says, “It’s so achievable. It’s actually doable. And it doesn’t take anything but your hard work. You get what you put in.”

Huddie’s results aren’t typical. Neither are mine. But they are real and possible. So stop saying you can’t do it and get studying!

Want the same education as Huddie? Apply to my Trading Challenge now … but only if you’re ready for this same level of commitment.

Which of Huddie’s lessons helped you the most today? Comment below — and congratulate Huddie on his awesome year!

How much has this post helped you?

Leave a reply

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”