timothy sykes logo

Trading Lessons

The Side-Hustle Trade Strategy

Timothy SykesAvatar
Written by Timothy Sykes Reviewed by Jack Kellogg Fact-checked by Ellis Hobbs
Updated 9/27/2024 3 min read
The Side-Hustle Trade Strategy Thumbnail

Welcome traders,

You don’t have to trade all day everyday.

Just pay attention when you have time!

A lot of my students see me making trades at ‘random’ points in the day. Like my trade on Onconetix Inc. (NASDAQ: ONCO) during after hours last week.

The stock spiked 60% that afternoon. And the move reached 90% the next morning! See the chart below:

ONCO chart multi-day, 1-minute candles Source: StocksToTrade

I didn’t know there was going to be an after hours spike. I just happened to be watching the market at that time and noticed the play.

If you hadn’t noticed, my schedule is a mess, lol.

See my post on X below, I’m always flying to different countries:

I pay attention to the market when I have time. And if there’s a good setup, I’ll make the trade.

For all of my students who work a day job … This is the strategy to use.

More Breaking News

The Side Hustle Strategy

© Millionaire Media, LLC

You can trade premarket, regular hours, or after hours.

I just happened to be on the plane with some downtime during after hours on Thursday last week.

I got an alert from Breaking News that stated an investor just bought a stake in ONCO, a tiny penny stock.

Not just any investor, Altos Venture AG. A fund with $8 billion in assets. This is the real deal.

Why would an investment fund buy a stake in a crappy penny stock??

I don’t know. And I don’t care. The catalyst was capable of spiking the stock and that’s all that matters.

Take a look at my trade notes below:

Source: Profit.ly

>> Get the next Breaking News announcement <<

Open your laptop to trade when you have time.

And even then, you don’t have to spend a bunch of energy looking for a hot setup. Just wait for the next Breaking News announcement.

Trade when it’s most convenient for YOU!

Cheers.

How much has this post helped you?

(0 votes, average: 0 out of 5)
Leave a reply

* 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”