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Trading Lessons

$4.5 Million Trader Reveals His 5 Biggest Lessons

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Written by Timothy Sykes
Updated 11/3/2023 7 min read

It hasn’t been an easy year for most traders…

But Kyle Williams is different.

Not only is he one of my best students, with over $4.5 million in career trading profits, he’s also on pace to crack seven-figures in profits in 2023.

It’s no surprise he’s someone my Challenge students look up to. And when he had the chance to speak at my conference in Las Vegas last week, he didn’t disappoint.

Today I’m sharing Kyle’s five pivotal strategies that have helped him become a star trader.

They go beyond basic trading wisdom…these are game-changers.

The kind that can pivot a trader’s journey from mere survival to absolute powerhouse.

 

Lesson #1: Come Prepared: Study Hard

sykes studying on laptop
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You get what you put out in this game. Those who are looking to get rich quick from trading are slapped with cold hard reality soon enough.

When Kyle first started trading he thought he was putting in the work, watching an hour or two of my training lessons, thinking that was enough.

And while it’s more than most traders do…it’s not nearly enough if you want to be an elite trader.

You can pay your tuition to the market by making mistakes.

Or you can learn from the mistakes of others. Kyle believes he could have saved a lot of money earlier on if he had studied a bit more.

Lesson #2: Don’t Chase Alerts

matt monaco tim sykes and kyle williams
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I always say alerts should be like training wheels. It’s okay to use them in the beginning as you’re just learning…but ultimately you want to become your own trader.

Kyle believes if you’re going to be trading for any amount of time…and your goal is to make money…then you need to develop your own ideas and trading plans.

Self sufficiency equals self responsibility.

 

Lesson #3: Stop Gambling

Kyle has developed a reputation for being one of the most patient traders I know.

He doesn’t like to play guessing games…

And knows first hand that the market doesn’t care what you think.

Instead of trying to make things happen…you should try to figure out how the market thinks and works.

Sometimes the best trade is no trade…

Lesson #4: Start Small…Trade Small

tim sykes and kyle williams on laptops
© Millionaire Media, LLC

It’s crazy how many people talk about getting into trading but don’t.

For whatever reason, they believe they need a certain amount to get started.

But that’s simply not true.

In fact, Kyle believes that you should start small.

Why?

Because you’re likely going to make mistakes early on…and it’s better to lose small than it is to lose big.

In addition, there are so many things you need to learn. For example, being prepared to accept risk.

At the end of the day you must try to protect your chips at all costs…and one way to do that is by starting small.

Lesson #5: Find a Setup and Stick With It. Diversify Later

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Trading can be overwhelming if you let it be.

Fundamentals…technicals…catalysts…bearish setups…bullish setups…etc.

If you try to learn everything at once you’re likely going to get frustrated, make a ton of mistakes, and lose money along the way.

Kyle believes you should try to master one setup at a time and grow your account that way. In fact, he became profitable from two setups.

He’s since evolved and added new strategies along the way…but you can get away with just one or two in the beginning.

Are you ready to turn trading trials into triumphs? 💥

© Millionaire Media, LLC

While navigating the tumultuous trading landscape of 2023, Kyle Williams stands out. With over $4.5 million in career profits, his strategies are not just insightful; they’re a blueprint for success.

Now, you have the chance to discover the pivotal techniques that transformed Kyle from an ordinary trader into an extraordinary market force.

💡 Embrace the rigor of in-depth preparation.

💡 Cultivate the finesse to develop and trust your own trading plans.

💡 Learn the patience required to discern when to act – and when to wait.

💡 Grasp the wisdom of starting small to secure big futures.

💡 Hone in on mastering one setup that can define your trading journey.

But how do you apply these lessons to live trading?

How do you weave this wisdom into a strategy that thrives amidst the market’s volatility?

🚀 Join us in our exclusive live training sessions.

🚀 Engage with cutting-edge strategies shaped for today’s unique market challenges.

🚀 Participate in real-time analysis, unlocking insights into market dynamics.

🚀 Transition from following to forecasting market moves.

Equip yourself with the tools to navigate the ever-shifting tides of the trading world. It’s more than just knowledge; it’s about transforming insight into action.

Don’t miss out!

🌟 CLICK HERE TO EMBARK ON YOUR TRADING TRANSFORMATION! 🌟

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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

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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”