Trading Tips-Tim Sykes Penny Stock

#1 Trade To Make Today: 6/28

Written by Timothy Sykes

Updated 6/27/2024 4 min read

#1 Trade To Make Today: 6/28 Thumbnail

Happy Friday!

We made it through another HUGE week of profit opportunities.

I had a little accident … But hopefully you were able to capitalize like some of my students. See their posts on X below:

Source

Source

Source

If not … There’s still a chance to profit today, before the market closes for the weekend!

Watch my video below:

Every Friday we watch for the same price action!

The incoming weekend inspires a specific stock pattern before the market closes.

And traders who understand this price action are free to take profits!

The Only Trade To Make Today:

© Millionaire Media, LLC

In this 2024 market, there are multiple profit opportunities every day. The overall bullish momentum in the market helps to create solid trade setups in our small-cap market.

Take a look at the S&P 500 ETF Trust (NYSE: SPY) index this year. We’re on a HUGE bull run.

Every candle represents one trading day:

More Breaking News

SPY chart multi-month, 1-day candles Source: StocksToTrade

But, we still have to be realistic about our ability to capitalize …

It’s virtually impossible to pull 100% of the available profits every day from the market. So stop trying! Instead, especially in the beginning, focus on a single pattern and wait for the best setup.

A trader could wait to make one trade every week on Friday. We don’t have to sit in front of the screen all-day-every-day.

Just pay attention when it counts.

I’ve used this exact pattern to profit off of multiple Friday runners this year. Take a look at some recent examples below:

Source: Profit.ly

Source: Profit.ly

DON’T MISS THIS FRIDAY’S TRADE OPPORTUNITY.

You’ve still got time before the market closes. We usually look for key entries/price action around 3 P.M. Eastern. But, this is an inexact science, so technically it could be a few minutes before or after …

Study the price action behind these weekend plays.

And if you get stuck, log in to the livestream. We’re tracking the hottest stocks LIVE every day.

Cheers.

*Past performance does not indicate future results

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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”