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Trading Lessons

5 Lessons From My Webinar With Jack Kellogg

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Written by Timothy Sykes
Updated 3/28/2024 6 min read

Yesterday, before the stock market closed, I sat down with one of my most successful millionaire students, Jack Kellogg.

In a fraction of the time, he’s managed to profit $12.4 million. Compared to my $7.6 million.

I’m a better teacher than a trader. You should use that to your advantage.

A lot of my millionaire students give back by teaching on live streams. And there’s SO MUCH you can learn from a trader like Jack.

This is what you can expect from one of our trading live streams:

Source: Profit.ly

I recorded the whole live stream, and it’s available for Challenge students. But I also wanted to highlight some major points as a good summary.

#1: Tune In!

jack kellogg and sykes in italy
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We hold live streams every single week.

There are multiple webinars every day. You have no excuse to miss out!

Live streams are the most powerful tool a new trader has.

You don’t know what you don’t know. Especially new traders in the stock market.

Let me shed some light on this industry:

Wall Street has a long history of making money because most people don’t understand the financial jargon and market intricacies. This isn’t rocket science. It’s just made to look like rocket science.

You can spend hours and hours reading books and watching pre recorded videos.

But every study tool pales in comparison to a trading live stream.

  • Yesterday Jack and I fielded questions.
  • We followed live price action.
  • We explained plays and strategies as they were setting up.

You can find the next live stream right here.

#2: Small-Account Advantage

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I snagged a $1,275 profit from Cazoo Group Ltd. (NYSE: CZOO) yesterday. My starting stake was $16,365.

It was a textbook play for me.

But Jack Kellogg won’t trade CZOO. His position sizes are too big and CZOO doesn’t have enough liquidity. There’s not enough intraday volume.

For example, yesterday Jack traded a position on Trump Media & Technology Group Corp (NASDAQ: DJT) worth $82,000.

Most new traders don’t have $82,000 to throw at the stock market. I’d even argue that most don’t have $16,000, like my position on CZOO. But here’s the trick: That works to your advantage.

It’s easier to get in and out of comparatively illiquid stocks when a trader’s position size is smaller.

Start small and scale up as you improve.

#3: Jack’s #1 Tip

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All new traders:

Jack said the most important part of his journey was learning a little bit of everything.

Everyone’s different. Everyone will see the market a little differently. Some strategies make more sense depending who you are.

The more you learn at the beginning, the greater the chance you’ll find what works for you.

Here are some links to get you started:

How To Catch The Next Weekend Runner.

How To Find Stock Spikes In Time.

How Losses Affect My $7.6 Million Profits.

How To Build Wealth In This Hot 2024 Market.

#4: Support And Resistance

students kyle mari and jack
© Millionaire Media, LLC

One of the most important factors when we look to trade a stock: Support and resistance levels.

Volatile stocks like to trade between key levels. Resistance lies above the current price.Support lies below the current price.

Stocks can consolidate around these levels because people are predictable during times of high stress. Specifically fear and greed.

We can also argue that, at this point, support and resistance levels are also aided by a self fulfilling prophecy. If enough traders know about support and resistance, it will come to be.

Here’s an example from yesterday. iBio Inc. (AMEX: IBIO) spiked 200% yesterday.

The chart below shows support and resistance lines. From the top down I drew lines at $3.75, $3.25, $3.00, and $2.50.

Each candle represents one minute:

IBIO chart intraday, 1-minute candles Source: StocksToTrade

To learn more about support and resistance, and how traders use them to profit, watch my video below:

#5: Pay Attention To Hot Sectors

We can find the next hottest plays by watching the hottest sectors.

Right now that means:

Like I said, this isn’t rocket science!

Start paying attention and it will all start to click.


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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”