We live during uncertain times — new COVID lockdowns in China, volatile oil prices, inflation, the Russia-Ukraine war. Just look at this headline…
It’s a lot for any day trader to take in. Yet I’ve been able to stay profitable in 2022. It hasn’t been easy. I’m trading differently from last year because the market’s so volatile — but maybe not in the sense you might think.
Since January the S&P 500 ETF TRUST ETF (NYSE: SPY) has been in a downtrend. Traders everywhere are feeling the pain…
But I’ve been day trading penny stocks for over two decades. I’ve seen a lot in that time, hot and slow markets alike.
I’ll share the strategy I’m using to stay profitable right now, but first…
See My Trades
Over the last two weeks, I’ve only made five trades.
Almost $7,000 in two weeks is pretty good, but during the same time last year, I made almost $100,000…
That’s my undeniable proof that we’re in a different market environment right now. So I’m using a different strategy…
How I Stay Profitable in Any Kind of Market
document.write(new Date().getFullYear()); Millionaire Media, LLCIt’s not that I’m doing anything drastically different.
I’m still looking for my favorite patterns that I’ve used for 20+ years. And I still follow the Sykes Sliding Scale to assess every trade opportunity.
The #1 thing that keeps me profitable — in any kind of market — is adapting to the market as it is now. It’s as simple as that.
Check this out: During this time last year, I profited more … but I also made more trades — a total of 74 to be exact.
That’s crazy! Now, I only make a trade when a setup meets certain criteria. So I made more plays in that time frame because there were more ideal setups.
In 2022, the market has changed. And after spending decades researching the science of consistent trading profits, I know adapting is key.
I still lose every now and then — about 23% of the time. So this is crucial too: I stay profitable by keeping my losses smaller than my gains.
Here’s a fact that might surprise you: I’m not even that good of a trader. A lot of my students do better. Take Tim Grittani, for example. He’s locked in over $13.5 million in profits so far.
Jack Kellogg has made over $9 million.
Learning to day trade isn’t as complicated as you might think. But it takes a lot of hard work. That’s one thing all my millionaire students can agree on.
If you think you’ve got the work ethic …
Apply for my Trading Challenge today!
This is no joke. My students and I show up to study. So I make sure to keep the BS out.
How many trades do you make a week? Leave a comment and tell me how you’ll start engaging with your day trading education.
The post The One Surprising Thing Keeping Me Profitable Now appeared first on Timothy Sykes.
Original source: https://www.timothysykes.com/blog/one-surprising-thing/
