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Lessons From Students

In-Person Trading Can Change Everything

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Written by Timothy Sykes
Updated 5/5/2022 5 min read
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Hey Trader. Tim Here.

I envy you.

Trading is a lonely business … but it doesn’t have to be.

When I was learning how to trade it was a trial and error gauntlet I ran by myself.

If I wanted to talk to my friends, I had to dial them on my trusty Nokia.

Yet nothing beats trading as a team.

And there’s one method that sits above all others — LIVE TRADING!

Why do you think I run mentorship programs instead of exclusively trading for a living?

It’s the same reason I LOVE meeting with students, answering their questions, and helping them achieve their lifelong goals.

In my opinion, nothing gets you there faster than good old-fashioned hands-on live event trading.

Why would I make this claim?

Because I know how it works

We designed our events to maximize your educational experience.

We’re talking about:

  • Networking with other like-minded traders
  • Intense study sessions that cover important strategies and concepts as well as how to implement them
  • Live trading, in-person, that you can’t get anywhere else

Now you might be skeptical that learning crammed into a two day window really packs that much of a punch.

That’s totally understandable.

Many of you probably attended ones in the past that didn’t deliver on their promises.

Or, you don’t see how this benefits you.

Give me five minutes of your time and I promise you that I can convince you by the end of this post.

The Power of Networking

© Millionaire Media, LLC

I’m proud to say that I have over 20 millionaire students, including Roland Wolf, who I mentored over the years.

Without exception, every single one of them has taught me something new.

Working solo will only get you so far.

When we expand our minds to incorporate ideas from other traders, we learn new concepts and ideas that help us improve.

Here’s a great example.

Roland Wolf is one of my student success stories.

Over the years, I got to know him better.

Last year, we put together this YouTube video talking about patterns in sector momentum.

Intuitively, I knew what he was talking about. But as we sat there recording this segment, I realized I hadn’t been applying it correctly.

And it’s not like I hadn’t heard Roland talk about this before. But, when we discussed the content for the video, it forced me to take a step back and realize I neglected this crucial concept in my trading at the time.

That’s the POWER of networking.

It’s about helping one another fill the gaps, swap ideas, and create a sense of community.

Because when the chips are down, a trading community is invaluable.

Back in the day, I lost nearly half a million dollars at one point because I didn’t know what I was doing.

And it sucked … hard.

Luckily, I had friends and family I could lean on to help me recover from the loss.

Everyone needs that. No one will understand you better than a fellow trader.

Plus, you get a chance to help them. And I promise you, that can improve your trading just as much.

Most of all, it makes the journey better.

One of my all-time favorite sessions was live-trading in Dubai with my top students.

This is what I want for every one of my students!

We All Learn Differently

Schools used to break us into three types of learning styles: auditory, visual, and kinesthetic.

Most of us dip our toes into a few categories.

A live trading event is the ONLY time that you get all three.

Don’t get me wrong, showing a live trade in a streamed webinar is a wonderful way to learn.

But in person, you get a chance to listen to other people ask questions, chat with one another, and really delve into the concepts and trades.

I’ve found that hands-on learning (kinesthetic) is the best way to learn no matter where your strengths lie.

Plus, you can follow up and dig deeper into concepts you struggle with.

Because there is nothing more frustrating than asking a question only to find the answer creates even more questions.

It happens to everyone. Myself included.

More Breaking News

With two full days, you’ll have plenty of time to explore those concepts with your fellow traders and presenters.

Don’t Miss Your Chance

I promise you won’t find any other event like this out there.

This is your chance to learn from the top traders in the country in person.

We only have limited seating, so I encourage you to sign up now to reserve your spot.

Click here to save your seat.

 

—Tim

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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”