8 Daily Routines That Will Make You a Millionaire - Timothy Sykes

8 Daily Routines That Will Make You a Millionaire

Do you follow a series of productive daily routines? If not, it could be holding you back from making millions of dollars in life, seriously.

Millionaires typically aren’t made by accident, trust me I know after my trading challenge has created more fully transparent millionaires from scratch than any other program in finance, see exhibit A and exhibit B and a few more upcoming Millionaire trading challenge students whose stories I will share soon.

In fact, there are distinct traits and habits which millionaires share. But in addition to traits and habits, successful people also often share similar daily routines, such as waking up early and keeping notes on their progress in business. I’ve outlined several common positive daily routines in this post. If you develop these daily routines, you may just be speeding up your progress toward becoming a millionaire.

1. Wake up early and prepare ahead of time. Rise and shine; the early bird gets the worm; so on and so forth. It may be cliche, but there is wisdom in these cheesy adages. Waking up early in and of itself won’t make you rich, but what you do with this added time can very well make you a millionaire faster as you’re better prepared each day than most others who wake up later.

When I wake up early, I make good use of those AM hours. I take that time to pause and reflect and acclimate myself to the day. I also use that time to get annoying things out of the way: answering emails, doing mundane daily tasks so that I don’t have to deal with them when it’s time to trade.

Finally, this is a great time to check out the international markets and to do your daily reading of the news in quiet, when you can focus on it without interruption. Being prepared and being informed are the true benefits of your early morning routine.

Download a PDF version of this post.

2. Set goals for the day. To become rich, you need to set goals. I’ve said this time and time again (and, spoiler: I’ll say it again); it’s a big emphasis in the Timothy Sykes Millionaire Challenge. But it’s not just on a big scale. On a day to day basis, you can keep your big goals in check by setting manageable mini-goals.

For instance, say your big goal is to earn enough money to buy a house. It’s unlikely that you’ll make the entire sum in one day, but you can make smaller goals that will take you toward that bigger one. Today, you might make 20% more than yesterday. Over time, attaining these smaller goals will get you closer to the big goals.

3. Invest in yourself. You’ll increase your moneymaking potential by leaps and bounds if you invest in your education.  If you want to be a great trader, this means that you’ll have to take the time and necessary means to learn all you can about the market and trading.

The Tim Sykes Millionaire Challenge Cost is one such investment that will offer great benefits. I act as a mentor to my students, leading them in the right direction to teach them the lessons about the market which they need to learn. This targeted direction and education will ultimately help them make money.

4. Learn something new. If you make learning something new part of your everyday routine, it can help make you rich faster. So how do you do this?

First, make reading part of your everyday routine. Stay current on the news, yes, but also read books and other media. Read books about the market, both strategies and biographies like this of successful traders. This will give you a view of how the market works and how to find success on both technical and anecdotal levels.

Read free stock market guides like this and blogs, too (good job on being here, btw) so that you can get an ongoing ticker tape of the current ideas and news swirling around the market.

Finally, learn by following traders on newer media channels. Often, nuggets of wisdom are dropped in casual settings such as twitter or Facebook. Podcasts are also a great way to get knowledge while on the go; you can listen to them in your car or while on your morning run.

5. Do your research. Researching stocks and potential trades isn’t sexy or glamorous. But it’s got to be done, so you’d best make it part of your daily routine now. Even if you’re not yet making money, take the time to at least monitor the market on a daily basis.

If you are embarking on your career trading, it’s a good time to get used to doing your research. This means researching potential plays, so even if you’re not investing at all or not investing in big numbers yet, you can get used to feeling out a trade. Research the company, research the news, and anything relevant that might inform your trade. It’s a good habit, and it can save your skin in the future.

6. Dedicate yourself to your work. There’s an adage that says “whatever you are, be a good one.” Make a resolution right now, no matter what you are doing, to dedicate yourself to your work. It’s a habit that will serve you in whatever you do, but it will be particularly helpful in making you a millionaire.

When it’s time to work, completely dedicate yourself to it. Don’t be drawn in too many different directions. Remain focused on your goals. This great student of mine studies so much, he’s admitted to studying while on the toilet too!

7. Avoid distractions. In a way, this is an anti-routine: you want to avoid potential distractions and time wasting activities. Basically, by making avoiding distractions part of your routine, you’re protecting all of your other positive routines.

For instance, if you’re working from a home office a few days a week or even full time as a trader, friends or a partner might be tempted to spirit you away from your work for long lunches, or just draw you into their daily activities. Resist the urge. You really have to set up a work routine and honor it to be successful.

8. Evaluate your progress. At the end of each day of trading, make it part of your routine to take a few moments to quietly consider what it is that you’ve accomplished. Take this time to consider what it is that you did right that you can continue to develop moving forward. But also note what it is that you could have done better.

Overall, you want to look at your day and consider how you can use the information to move forward stronger and more intelligently. Write down any ideas you have so that you can keep track of your progress.

BONUS #9. Call it a day. Now for an important part of your routine: quitting for the day. While it’s possible to be at your computer for endless hours, that doesn’t mean your’e being productive. Know when to say when, and turn off the computer and/or smartphone so you don’t burn out. Take some time for yourself and/or to enjoy your friends/family, do the things that you want to do, and to get rest. You’ll come back to it stronger and refreshed, which can help you make millions faster than someone who goes hard, but burns out fast.

By cultivating these daily routines, you’ll be taking a grand step toward your future success. These are routines shared by many millionaires, and if you want to join their ranks, it’s a wise idea to start incorporating them into your daily life.

What’s your daily routine?

Posted in Millionaire Habits

Become a Millionaire

I Turned $12,415 into $4,650,000 Trading Penny Stocks. Now it's your turn.

Apply To Work With Me

90 comments

Timothy Sykes

Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my millionaire challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don't forget to check out my free Penny Stock Guide, it will teach you everything you need to know about trading. :)

  1. Jamous Amjad

    thanks for all you share man, you opened my eyes to the world , cant wait to get started with the challenge

  2. Anonymous

    watched numerous of youre videos a couple months ago,,signed up for the challenge,,never had an open oppurtunity to chat ,with any of youre staff,,,if you were truly wanting to teach a brand new interested person,,youre platform would be hugely more affordable,,and total commitment to honestly put a broke person on a program,and show the real value of training,,,with out huge upsales,,and huge price !

  3. Jennifer

    Hello Mr. Sykes,

    Thank you for all the information that you have put out here for free! It definitely makes me a believer. I am currently still reading your Penny Stock Guide (almost done). What prompt me to inquire about you was when I seen you on the ‘ Steve Harvey Show’. I don’t believe that Steve Harvey would bring on just anyone to pump up his show! I believe that his dignity and respect for humans as well as his longing for everyone to succeed is not in vein. I have also made the many past mistakes of becoming a Penny Stock Trader that your guide explains so thoroughly why this happens to individuals such as myself, and I basically after loosing so much hard earned money didn’t trust any more companies portraying to have found the “BEST PENNY PICKS” or even Their “PROVEN SYSTEM”! COMING TO MY EMAIL DAY IN AND DAY OUT! Currently I am saving up my dollars to Join your Millionaire Team! Lastly I must say after completing the 5 day lessons with the extra bonus and watching your videos on you tube has really inspired me to pick myself back up again and give it my all in all ONE LAST TIME!

    Thanks Again!
    Jennifer D.

  4. Tadej Topic

    Your lessons are incredible. Thank you for all the knowledge which share with us. Thank you Tim :)))

  5. Lando

    awesome advice, I feel like these principles are sinking in for me, can’t tell you thanks enough. If you notice my trades lately a kudo from you would be really motivational. Cheers

  6. James

    Tim,
    Thanks for this. I just signed up for your millionaire challenge….hope to be one of your next ones!!
    BTW – great job on the schools…..you’re truly an inspiration to many…..glad you have think skin though….haters gonna hate!!

  7. Jennifer M

    Im in the challenge – studying hard and trying to learn the patterns. Today is definitely choppy and I am taking a break to watch some DVDs and regroup! What a week! Thanks Tim for everything you do for us, great to see the charity efforts (I fully support Pencils of Promise!). Everyone in chat is great, it’s nice to see a good community where everyone is accepted as they learn. Thanks again!

  8. Richard McBane

    Nice article! Thanks for showing me every day I can accomplish great things and not settle for being average:)

  9. Mark Kile

    I’m always up for more learning. I’m currently in the middle of 4 different books on market strategies. I’m also in the middle of 3 books for pleasure (history & bios, keep your mind out of the gutter LOL). Plus I try to review my notes once or twice a month. I also watch as many of Tim’s daily videos that I can.

  10. Kerry Lehman

    Reminds me of the book “The Millionaire Next Door” and “The 7 Habits of Highly Effective People.” Becoming rich or being successful does not happen by mistake. Thanks Tim

  11. Mary Pongpacharapun

    Great Article! Very enjoy your teaching. Lots to learn but there is nothing too hard if we’re really want it.
    Thank you so much for your dedication!

  12. Anonymous

    Lazy and broke .. That’s an all time favorite Sykes line … This mentality needs to change if y’all want to be successful … In the end realize that to make money you need to spend money by investing in yourself first … The rest falls into place with dedication, desire and determination

  13. Alex

    Thanks for the great tips as always! Ill be one of your Millionaire Students by 2019 realistically, but it doesn’t hurt to shoot for 1 year from today!

    Thanks Again,
    Alex Fancher

  14. Matt Wiener

    Don’t overtrade! I learned this the hard way. Thanks Tim for helping me realize the simple mistakes I was making on a daily basis. Through my education one of the best things I have learned it to be disciplined and wait for the setups to come to me.

  15. Nate aka No_Bad_Sushi

    Great teacher, great guy. I recommend everyone to learn from Tim . Not only in stocks but in life.

  16. Aashiesh

    Thanks Tim, family is out to watch the KONG Skull Island, i didnt go so that I dont miss out on the webinar at 11 am my time.

  17. Ryan

    My daily routine:
    – Wake up and be at the computer by 8:30/9:00 to review my watchlist from the night before as well as any new movers.
    – Watch the markets until 11:00.
    – 11:00-12:00 I review any paper trades that I made that day (I’m still studying). Also, I catalog chart patterns and have an on going list of trades to practice using Thinkorswim’s OnDemand feature.
    – 12:00-2:00 I watch any new video lessons. Once I’m done with that I keep on trucking with the video lesson library.
    – 2:00-4:00 I practice trades using Thinkorswim OnDemand and catalog my progress including commentary for each trade.
    – 3:00-4:00 I also watch the markets during power hour while practicing trades in OnDemand.
    – 4:00-5:00 I build a watchlist for the next day.
    – 5:00-6:00 I practice more in OnDemand.
    – 6:00-8:00 I exercise, eat dinner, etc…
    – 8:00-10:00 I work on other personal projects.
    – 10:00-11:00 I relax then sleep.

    Weekends are a similar schedule with some time allotted for chores, errands, etc… but as far as trading goes I’ll do a weekly wrap-up summary on the progress I’ve made that week in addition to more practice in OnDemand. In addition, I take some time to review my catalog of chart patterns looking to see if there is any more information I can get from them. I also spend more time on personal projects.

    That being said, not every day works out as perfectly as I’d like because things do come up, however, I do my best to adapt.

  18. Hira

    I’ve been working on getting more focused on my goals and this post just motivated me to do an even better job on being focused. Thank you for all you do!!

  19. Darien Ruffin

    You’re the man Tim! Getting back on track now with your Pennystocking Silver membership. Learned the hard way what happens when I don’t follow your rules everytime I trade. Caught my self before things got too bad and got a membership.

  20. King Ramza

    This was a good read. I get up at 4:30 am each morning and spend it with my wife in prayer and conversation. Then it’s to the office around 6am to see your watch list as well as check the news. I have been trading for a small amount of time, but i am learning the importance of following the rules. It is like training wheels. Yesterday I had 2 trades that didn’t go my way and I cut my losses quickly, it felt good and I was able to make an additional trade that left me in the green for the day. I learned that cutting losses quickly is not just about saving my money, but also freeing me up to go make more. I appreciate your teachings and look forward to the Challenge by the end of the year.

  21. John Barnhardt

    Tim Brother I love everything I read from you. I love that youre a real person. We are all human and we all make mistakes. Speaking of, there are 9 routines total, you got two #5s my man.

  22. Johan Friesen

    I didn’t just read this article, I studied it and made all 9 notes b/c there’re two #5
    anyway this is great help, I especially like the last one, “call it a day” that’s what i’m going to do now, It’s Friday 3/10/17 18:00 hrs and snowing again, I’ve been reading, watching, papertrading and studying for since 06:00.
    I’ll be one of your millionaire student, just wait…

  23. Misha M

    This week is a milestone for me… I finally feel comfortable in trading, confidence in my decision process and no longer under the PDT rules… I am managing to keep my losses under control and recognizing good set-ups… I do have a few issues I am working through in regards to emotions, but fully intend to master them… Joining the Challenge is one of the best decisions I have made (in the last 6 months) 🙂
    Thank you…

  24. Patrick Jepsen

    Hey Tim, Would you recommend any books (On paper) that I should pick up? I’m new to the whole game and really keen to be studying it everywhere I possibly can. I’m from Australia and i’m still in High School. When I try doing research at school (On my phone or Laptop) It just gets confiscated and I get in trouble. A book would be a great disguise! Thanks for another great blog post Tim. I can’t wait for the next one!!!

  25. OceanRider

    I had a few major break throughs this weekend. Yesterday I felt like I have mentally stepped through a door with a fuller set of knowledge after assembling all of these little nuggets of information which have been collected, stored, and now applied throughout the last 15 years. I am kind of in a state of disbelief about the order from which certain patterns exhibit. I am very excite to see what the next few weeks bring after this weekend.

    I believe I am close.

    I do not have the dollars to show for it just yet and cannot wait till I do.

    I wanted to thank you for the idea you published in your guide about the need to trade clean charts.
    This simple concept has really allowed me to better see and become more informed of advance price action prediction. Seeing is believing and clean charts allow one to see things and see how often the patterns repeat.

    Thank you for all that you have done Tim.

    One day I would like to have a beer and understand where you get your passion from.

    Your trading and accomplishments are amazing, yet it is your level of commitment and passion to help others is really special.

  26. joel

    Note taken. This Millionaire stuff is tough work. But I too study on the toilet, and listen in the shower with my UE Boom connected to my iPad, and on bluetooth in the car. Hopefully one day I get that “click” and become consistently profitable. #TheJourneyIsReal

Leave a Reply

Your email address will not be published.

Click here if you want to become a millionaire!

Close