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The Next HOT 2024 Setup! Don’t Miss Out.

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Written by Timothy Sykes
Updated 3/19/2024 5 min read
The Next HOT 2024 Setup! Don’t Miss Out. Thumbnail

Pay attention to the market when you have time.

Traditionally, we see the strongest runners during the first and last hours of the trading day. But in 2024, there are spikers all day long.

Yesterday I pulled a profit on Airship AI Holdings Inc. (NASDAQ: AISP) at 2 P.M. Eastern … That’s a pretty random time for a stock breakout. But again, 2024 is showing us incredible price action.

If there’s a lull in your day, pull up a StocksToTrade chart and take a look at the big-percent gainer scan. That’s where we find some of the hottest opportunities. 

It’s where we found AISP on day one … 

We’ve been following the price action ever since it announced a Department of Justice (DOJ) contract on March 5. Take a look at the subsequent price action below.

Each candle represents one trading day:

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

It’s very possible that AISP squeezes higher.

But we’re not buying at random. I followed a specific pattern to pull profits on AISP yesterday

That’s the beauty of my trading process: It’s not a gamble.

We approach the market with realistic expectations, and we capitalize on the best setups.

I’ve already helped over 30 students pass the $1 million milestone.

And we all trade using simple patterns. Like my AISP trade yesterday. Let me show you … 

 

Trade Notes

I share all of my trades with my students.

Profits AND losses.

It feels good to be transparent in an industry full of fakes. See my Tweet below for more information: 

Don’t take advice from traders who don’t share their positions.

I’ll lay out my whole strategy on AISP. Right here. For FREE.

I had a starting stake of $19,320. My trade notes are below:

Source: Profitly

Here’s my trade overlaid on the intraday AISP chart, each candle represents 1 minute:

AISP chart intraday chart, 1-minute candles Source: StocksToTrade

I didn’t hold for very long. But the stock did what I wanted so I got out with a profit.

That’s the key right now: Set a thesis and execute the trade accordingly.

 

And include possible losses in that trade plan.

 

For example, I watched AISP break out and consolidate over the resistance set at 12:30 P.M. Eastern. The consolidation was a hint that the price could continue higher. That’s when I bought shares.

The stock pushed upward so I sold. As far as I’m concerned, $540 in a few minutes is a great trade.

And there’s another profit opportunity on the horizon.

 

Daily Setups

This 2024 market keeps giving us low-priced stocks capable of spiking +100%.

That goes for intraday moves AND multi-day setups. There’s something for everybody right now!

Stop wasting time with sub-par plays. Every single day we focus on the best strategies. And on the off chance there isn’t a play to make … We go fishing. Or golfing. Or whatever.

Professional traders never force a position. We can only take as much as the market is willing to give us.

 

This is where you’ll find the next profitable setup.

 

My students and I will keep riding this bull-market momentum while it lasts. You’re welcome to join!

 

Cheers.

 

*Past performance does not indicate future results

 

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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”