Not many people speak publicly of either their wins or losses. There are thousands of super successful traders out there, however very few of them reveal themselves and even less dare to speak about how they’ve done it.
In this post I’m going to show you a few people that have made it big as day traders. They’ve managed to become millionaires from trading on their own. All of them are regular people, they are no geniuses or math whizkids.
Let’s get to it, shall we..
1) Tim Grittani – Up Over 4.8M$ (updated: now over $7.0M)
He started trading in 2011, when he was attending his last year of uni. At first he put in a couple of grand and rather quickly lost it all.
However he was instantly drawn to the markets and started to look for a real strategy instead of just trading randomly, which had caused him to lose the money in the first place.
It was only after he found someone to learn trading from and started to take it seriously, when he started to make some serious money.
Tim started again, after going broker the first time, with 1’500$ and reached millionaire status in a little over 2 years (end of 2011-beginning of 2014). He currently stands at 4.8M$ in profits. Below is his equity curve taken from profit.ly:
The one thing that made him turn profitable was that he joined Tim Sykes trading chat room and started to learn from him.
Tim Sykes strategy mainly teaches penny stock trading. This means trading in low priced super volatile instruments, that can go up 100-500% per day and down just as fast.
Normal people avoid stocks like these as they deem them too risky. However if you want to make a significant amount of money with a small account size, penny stocks are actually a fairly good option.
This is something that Grittani had figured out. It made sense to him and he started to take in everything that Sykes was putting out to become profitable as fast as possible.
He actually put in the work and it paid off handsomely. Tim Grittani now trades penny stocks and lower priced Nasdaq stocks. His main strategies are momentum plays, where he is looking for stocks that are moving and he only trades them when a certain price pattern appears.
How to Learn from Tim Grittani:
There are two options for you to learn from him:
DVD – He teaches his strategies on his DVD. That’s actually a powerful learning material, because he structured it well. At first he shows you one of the strategies and then he shows the same strategies in action in live videos, where he comments on each decision.
He goes over everything – finding the stocks to trade, which broker to use, which patterns to look for, what tools to use and much more. I like that he explains his stuff as he was speaking to a 5th grader.
The Chat Room – As I said before, Tim Grittani learned most of what he knows from his mentor Tim Sykes. Sykes has a chat room that offers live alerts and commentary to its members. Also you are able to ask questions and chat with the pro traders. Tim Grittani is actually a moderator there.
I’ve bought the DVD and am a member of the Pennystocking Silver chat room. I recommend the Silver option, because it comes with the video lessons that teach all of Tim Sykes’ strategies with real life examples.
2) Michael Goode – Up Over 2M$
Next up I’ve listed Michael Goode. Despite the funny picture, he is actually a real badass day trader.
Michael is up over 2M$. He is also focused on trading penny stocks and is also a student of Timothy Sykes.
Goode started trading nearly 10 years ago, back in 2008. Despite the economic melt down, he managed to earn many hundreds of thousands of dollars per year.
Below is his equity curve. Not as steep as Tim Grittani’s but nothing short of impressive:
As I mentioned above, Goode is also trading penny stocks, although he is mainly focused on discovering and shorting penny stock pump & dump plays.
Again, this is something that Tim Sykes is teaching. Michael actually has a pretty interesting background with his teacher Tim Sykes. Initially Michael Goode started hating on him due to Sykes’ promotional strategies (he likes to flash with his Lambos, Ferraris, mansion, money and watches).
However, as Goode started to learn and practice the strategies that “Richie Rich” was teaching, he came around and started to vouch for the guy, as his strategies worked for Goode.
How to Learn from Michael Goode:
Michael doesn’t sell anything. He doesn’t teach his methods by himself. However he is a moderator at the Tim Sykes chat room and he is a co-teacher in various Sykes’ teaching programs like the millionaire challenge, etc.
Goode also has a website, where he uploads information on penny stock pump and dump schemes. It is useful, but in reality, rather boring to read. I just look for his alerts from the chat room. He is also a very kind person and always answers when I have something to ask from him.
Goode’s website: https://www.goodetrades.com
3) Gregg Sciabica Up 10M$+
Gregg is a guy that likes to keep to himself. He doesn’t talk much or flash around with his enormous trading profits.
Before he ever wandered into trading, he built swing sets for the rich folk in the Hamptons. He started to day trade on the side because he realised that this was something that he really liked doing.
After lots of trial and error he managed to find a few consistent patterns that tended to be profitable more times than not and he managed to grow his account from 25000$ that he started with into hundreds of thousands and later on into millions.
He doesn’t say much about his exact strategies unfortunately. However he has said that he trades based on certain patterns appearing in the stock charts. Whenever those patterns appear, he knows what is likely to happen and capitalises on the situation.
Another thing that Gregg has said that has contributed to a large part of his success is that he is always looking for a certain percentage of profit. That way he is able to grow his account exponentially. This is visible from his profit chart from above.
How to learn from Gregg:
Despite the fact that he doesn’t teach his strategies, he is an active member in the Investors Underground live chat room: IU . This is a chat room meant for medium to advanced level traders.
Gregg has been openly sharing his ideas and stocks that he is watching there. However the exact reasoning and insights into his methods remains a mystery.
He has done a few appearances on a few trading conferences, where he has been sharing his story and tips. I’ve added a video of one of those events below:
There is one thing that all of the above day trading success stories have in common, they’ve all had a specific strategy and a crazy work ethic. It’s a simple formula really, but most people get one or both of the parts wrong.
Losing traders often lack a proper strategy. They just put trades on randomly based on their gut feeling. I can tell you that this is a recipe for wiping out your account sooner or later. The same happened to Tim Grittani, only after finding someone with a winning strategy to follow, did he turn around his trading and started to see consistent profits.
Another factor that separates the winners from losers is their work ethic. Tim Sykes has thousands of followers, but only roughly a 100 of them have managed to become consistently profitable.
The ones who make it are the people that put in the hours to learn, put it into practice and constantly improve. Are you willing to do the same? I sure am and I hope you are too..
Good luck with your trading ventures!
PS! In case you have any questions or comments, I’d be happy to answer. Also I would love for you to share your own personal trading journey. How have you managed to do and what do you think has kept you from achieving success so far?