Six-Figure Student Bryce Tuohey Shares the Secrets to His Profitability

Bryce’s Market Edge: Key Takeaways

• How Bryce became profitable starting with one simple pattern…
• Bryce proves he isn’t the dumbest guy Matt Monaco knows. Find out what’s behind this “inside joke.”
• The super small step Bryce took toward exponential growth. (You HAVE to see this.)

Head to the moon every week with Bryce right here!

I like to rip on Bryce. He’s a fun, good-natured guy who can take a joke. But he’s serious about trading. Here’s how my energy-drink-shotgunning student went from a lazy college kid (who dropped out!) to a six-figure trader.

At a Glance: Bryce’s Trading History and Stats

• 2018: Starts trading
• 2019: Launches the Beyond the PDT podcast with Matthew Monaco
• Spring 2020: Bryce joins my Trading Challenge
• June 2020: Becomes profitable and drops out of college to pursue trading full time
• Starting account: $5,000
• Biggest loss: $14,000
• Biggest win: $18,000
• Win rate: 51.5%
• Total profits as of November 2021: $664,000+

See Bryce’s trading stats here.

And learn more about his journey from underdog to six-figure trader here.

Bryce’s Favorite Educational Resources

• Trading Challenge webinars and video lessons on Profit.ly
• Tim Grittani’s “Trading Tickers” DVD

Top Tips From This 6-Figure Trader

Bryce is all about transparency. He’s been sharing his journey with the world since he launched the Beyond the PDT podcast with Matt. More on that shortly.

So how does this trader find his unique strategies? Here are three tips in his words:

• Experiment with different patterns in the beginning and track your data. Otherwise, you’ll jump from trade to trade without knowing what works.
• Keep a trading journal to stay accountable.
• Review your stats to see what’s working and cut out what isn’t. Hone in on one pattern and refine your defined edge.

Sizing Up Slowly — Seriously

I tell my students to trade small at first, then size up slowly. Some really listen, like Bryce. Even though he wasn’t new to trading when he joined my Challenge, he wasn’t quite hitting his stride.

So he radically sized down. Check this out:

• In May 2020, Bryce decided to risk just $2 per trade! In doing so, he kept his monthly loss to only $166.
• The following month, he increased it to $5 risk and made over $1,000.
• Then in July, he increased his risk to $20 per trade and made over $4,000.
• In August he made over $13,000.

Start small and scale up as you get comfortable. It takes practice!

Bryce’s Top Trading Patterns

• Listed breakouts. Bryce’s first pattern was buying strength in breakouts. But he noticed when they didn’t work, he took bigger losses. 
• OTC panic dip buys. When the OTC market got hot, Bryce learned to dip buy the inevitable panic.
• Trend breaks. He adapted his breakout strategy and now buys consolidation and trend breaks. His goal is to have better risk/reward and get an entry before multi-day listed breakouts.

Bryce’s Hot Market Lessons

Want to be ready for a hot market? Here’s how Bryce would do it:

• Know YOUR go-to patterns
• Test and tweak to find your trading comfort zone
• Nail your risk tolerance

Sounds great, right? Here’s how that played out for him…

• In January 2021 he made over $140,000.
• In February he made roughly $200,000.
• And even when things slowed down in March, he made nearly $25,000.

Dig Deeper Into Bryce’s Story

Bruce discovered trading and my teachings in 2018. He and my now-millionaire student Matthew Monaco were college roommates.

But while Matt was dedicated to studying, Bryce admits he didn’t take trading seriously in the beginning. He was a typical lazy student — playing video games and watching Netflix instead of studying.

But when Bryce saw Matt make four figures in a day, he got inspired to get to work!

And check this out … Matt and Bryce were both so determined to expand their trading knowledge and network that they started the Beyond the PDT podcast.

That’s some respectable hustle. Watch the episode where they interview me here.

Bryce’s Smartest Decision in His Trading Journey

It was roughly 2019 when Bryce finally decided to take trading seriously. But he still made typical newbie mistakes…

He traded random patterns, used random indicators, and thought he could do without studying. WRONG!

Study and work harder than you ever thought possible in order to become more successful than you ever thought possible

— Timothy Sykes (@timothysykes) October 28, 2021

Finally, after months of grinding, Bryce got sick of losing. He accepted that the only way to succeed is to study hard. So he buckled down and studied 12 hours a day.

In spring 2020 — roughly two years into his trading journey — Bryce joined my Trading Challenge.

THIS Changed Everything for Bryce

Bryce says the problem with too many traders is they focus on the money in the beginning. He was one of them. Until he realized he needed a BIG mindset shift.

Bryce tells me his trading turned around when he focused on learning.

Now he journals his wins and losses, which he says prevents him from repeating mistakes. He also uploads all his trades to Profit.ly to track all of his trading stats.

Be weary of large trading profit screenshots, many traders are putting millions or even tens of millions of dollars into trades to try to justify their “big” profits, but their % gain is usually a lowly 1-2-3% making the strategy useless for new traders & those w/small accounts

— Timothy Sykes (@timothysykes) October 28, 2021

Bryce started trading under the PDT. He wanted more day trades so he opened two $3,500 cash accounts. He used small position sizes and small risk. And he stuck to one pattern — listed breakouts.

That’s when it clicked for him. Hard work really can pay off! He decided not to go back to college the next semester — instead, he fully focused on trading.

How to Find Focus in a Crazy Market

Bryce knows everyone has their own strengths and weaknesses. It’s not worth it to compare yourself to others. Get inspired by successful traders, but do what works for you.

All Bryce’s profits come from small gains. He lives by two rules: cut losses quickly and singles add up.

He knows that when you get greedy, the market will humble you fast. His biggest lesson came from big losses. So listen to what Bryce says…

“Have a risk level, control size, and have an edge before any trade.”

Will Bryce — or Matt — Ever Live This Down?

Bryce is more determined than ever to hit the million-dollar milestone.

But here’s what’s funny … When Matt and I were filming the 30-Day Bootcamp lessons, I asked Matt to name the dumbest person he knows. Matt’s answer? Bryce.

Now, I did put Matt on the spot — and he immediately confessed to Bryce. Matt felt terrible about it. Now it’s become a long-running joke between them (and anyone who’s been through the Bootcamp).

But I can’t help but wonder if that lit a fire under Bryce. I know I’m proud of how hard he’s worked to get to where he is now. Keep grinding, Bryce!

Learn With Bryce

Want to learn even more from Bryce’s incredible journey?

Check out every episode of the SteadyTrade and TWIST podcasts featuring Bryce:

• Ep 223: StocksToTrade’s Bryce Tuohey on Avoiding Dumb Mistakes + Overcoming Red Months
• Episode 204: Small Accounts, Patterns, & New Strategies — Bryce Tuohey Returns!
• Episode 201: Trading the Ultimate Breakout With Bryce Tuohey
• TWIST: Special Guest “The BRYCE” With $VVPR
• Beyond the PDT with Bryce and Matt

And you can learn from Bryce every day in the StocksToTrade Small Cap Rockets chat room. He alerts trades and answers traders’ questions along with Matt and John Papa.

Bryce and Matt regularly post Small Cap Recap videos on YouTube. Watch them all here.

Level Up in the Trading Challenge

Bryce says he’s learned so much since joining my Trading Challenge. You have the opportunity to access the same materials and education as him and my many millionaire students.

But you have to be up for it. As you’ve seen with Bryce’s story, it’s not a straight path to profits. And becoming profitable is never guaranteed.

Are you ready to take your trading to the next level? Apply for my Trading Challenge. Come ready.

Take a page from Bryce’s book and rev up your dedication!

What do you think? Will Bryce be my next millionaire student? Let me know in the comments below!

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Original source: https://www.timothysykes.com/blog/bryce-tuohey-secrets-to-profitability/