Millionaire Habits Archives - Timothy Sykes

Category Archives: Millionaire Habits

8 Lies That Keep You From Being Successful

Do you want to learn how to be a millionaire, but secretly believe that becoming a great trader simply isn’t in the cards for you? If so, it’s possible that you’re lying to yourself. Many people will tell themselves blatant lies in a subconscious attempt to protect them from risk and potential failure. However, by doing this we also talk ourselves out of discovering and achieving our full potential.

Download the key points of this post as PDF.

Here are 8 common lies that keep people from becoming great traders. Are you guilty of any of these?

1. “I want to be rich to be happy”. If you think that you’re only in trading to make money, then you’re deluding yourself. The fact is, money is only paper. Having a bunch of paper won’t make you happy. Continue reading

5 Things You Can Learn From My Millionaire Students

My top millionaire and even upcoming trading challenge Students are incredibly talented and motivated and this makes them absolute beasts when it comes to achieving their goals. Given the high caliber of people who are drawn to my trading challenge, it’s no wonder that over the years, I’ve mentored numerous students who have forged successful careers as penny stock traders.

Download the key points of this post as PDF.

If you’ve watched my recent interviews with them: Continue reading

8 Unexpected Secrets To Success

One of my top students named Steven Dux, who I previously profiled HERE, has now turned $27,000 into $900,000 gave a very simple answer to the key to his success:

My student @stevendux_1994 has turned $27,000 into $900,000+ in the past year #stocktrading and just gave an incredible webinar to other Challenge students for the past 2 hours, but I want you to only like this video and leave a comment if you are excited to see the full 40+ minute video interview we recorded a few days ago when I met him in #miamibeach for the first time. A lot of people are surprised that I can successfully teach people online that I've never met, that's the beauty of new technology, being real and now having thousands of hours of live #stockmarket tutorials, but you must be #dedicated like Steven has been to truly maximize the opportunity and achieve #financialfreedom and the #dreamlife so let's see what you've got! #ilovemyjob #proudteacher #dreamjob #pennystocks #honoraryjew #edjewcation

A post shared by Timothy Sykes (@timothysykes) on

His key was joining my trading challenge since he’s learned from Michael Goode, myself, Tim Grittani and Mark Croock’s video lessons and webinars and created a strategy that works best for him.

Download the key points of this post as PDF.

And we’ve all been doling out education/information galore lately in videos like this:

So please read this post in its entirety since it’s real and useful information and leave a comment below the post if it helps you…not like my April Fool’s Day joke about the secret to my success: Continue reading

10 Things You Need To Do To Become A Millionaire

I’m SO obsessed with creating more Millionaire trading challenge students from scratch, I have a whole category on this blog called “Millionaire Habits“…this blog post is going in there too, but I suggest you read them all, as you must study harder than the rest, if you want to succeed where so many fail.

After reading the title of this post, I’m sure that a few of you are thinking: “that’s easy; to become a millionaire, you need to make a lot of money.”

That’s true, but making money is secondary to getting in the millionaire mindset and developing good habits from the start that will allow you to actually succeed in your goals. By shifting your thinking and the ways in which you conduct yourself, you’ll be setting yourself up so that you can make money. So, by following these steps, you’ll be clearing the way to making it more feasible for you to become my next Millionaire trading challenge student…and understand the journey is NOT easy, but with enough hard work and dedication, it IS possible as proven by several of my top students now.

Download a PDF version of this post.

1. Make a commitment. It’s said that every journey begins with a single step. But, before you take the first step, you have to decide to make that step. Basically, what I am getting at here is that before you need to become a millionaire, you have to make it a clear intention in your mind…as it’s not going to happen overnight.  You must mentally prepare for it being a journey and this journey has peaks and valleys too.

Idly thinking that you’d like to be a millionaire and day dreaming about it simply isn’t good enough. Overall, the first step to how to be a millionaire is deciding that you want to become a millionaire. This step is easy, but it’s also important, so don’t overlook it.

2. Figure out what you want. Here’s where you ask yourself an important question: why do you want to become a millionaire? If it’s to have a lot of money, then think again. A desire to simply be rich isn’t going to fuel your fire when things get tough. You need to set specific goals for what you want.

Really think about what your goals and desires are in life. What would make being a millionaire awesome? Is it the ability to buy a house by the water or to have the money to start a restaurant? Or, to start a charity like I have here. Whatever your goals are, make a list of them, big and small. Think of the money you make as not just dollar bills, but the means to make your dreams come true.

3. Figure out what you want to do. This may sound obvious, but that money you want isn’t going to earn itself. Once you’ve figured out why you want to become a millionaire, it’s time to figure out how you’re going to do it.

There’s not just one way to become a millionaire. Maybe you want to start buying and flipping houses or perhaps you want to start your own business. Or, maybe you want to make a killing in the stock market. For many longtime millionaires, their riches don’t come from just one source; many have multiple income streams.

4. Seek guidance. If you want to follow my lead and make money as a trader, then I can help. I set up the Timothy Sykes Millionaire Challenge so that I can act as a mentor to a chosen few students. I’ve now turned $12,415 into $4.6 million and I want you to be able to do the same, if not better, like this great student of mine has done lately. In my teachings, I pass on my knowledge so that you can learn from my experience and so that it can help you on your path.

5. Apply yourself. Once you’ve found your means to making millions, it’s time to get to work. If you’re a student in the Tim Sykes Millionaire Challenge, this means learning all that you can about trading and beginning to start making trades.

Even if you are trading from a small account, you can begin to accumulate earnings. Pay attention to the studies and continue to learn as you go. Every trade is an opportunity to learn something new.

6. Save. Yes, you heard that correctly. To make millions, you’ve got to become an expert at saving. Here’s why.

While you can start trading from a small account, you ultimately want to increase your position in the market. When you have more money to invest, the potential profits are that much higher. The way to do this is to save. Even if your earnings are relatively low, save a good portion of them. This means that the next time you make a trade, you’ll have more to work with. Over time, you’ll find that the amount that you can save is higher, but so is the amount that you get to enjoy. Overall, this may be the point at which you can start buying some of those things you want without eating into your savings.

7. Surround yourself with successful people. To paraphrase a famous saying: aim for the moon. Even if you don’t make it, you’ll land among the stars.

In essence, what I am saying here is that you should be aspirational in your networking. If you hang out with your college buddies who are still working dead end jobs, how will you be inspired to get ahead? In terms of professional networking, you need to surround yourself with super successful people. You’ll be amazed at how much their success can rub off on you. For one thing, you’ll pick up subtle social cues as to how successful people conduct themselves. Second, you may be opening yourself up to opportunities. If you surround yourself with big players, they might think of you when a business opportunity comes up.

8. Keep learning. This step is key, because oftentimes, traders or business people forget about it. Once you’ve started to hit your stride and are consistently making profits, it’s of the utmost importance to keep learning. Keep up on your lessons in my Millionaire Challenge; read the news; listen to business podcasts; let your mind be a sponge, absorbing everything.

Continued learning will help you stay relevant and keep you from getting complacent. Lifelong learning is a common habit of longtime millionaires and it should be one of your habits, too.

9. Keep getting better. In addition to continuing to learn, continue to improve. This requires a degree of self analysis. Look at your progress and be able to evaluate how to streamline your process. Also be able to evaluate your weaknesses and bad habits, and work hard to eradicate them.

Consider this your secondary intention: to keep getting better all the time and to remain in that beginner’s mindset where you know you still have so much work to do.

10. Love what you do. Whether you’re trading, flipping houses or whatever, learn to love it. Learning to love the process of what you do is not always vital to attaining success, but it’s essential to maintaining success. If you don’t love what you do, you’ll burn out sooner or later. So why not learn to enjoy the ride so that you can enjoy a long and healthy career?

Overall, so much of the process of how to be a millionaire is in your mindset. By doing the ten things listed in this post, you’ll be setting yourself up make millions in a smart and sustainable way.

So do you want to become a millionaire and are you willing to work your butt off to actually make it happen? 

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. Continue reading

8 Millionaire Traits That You Should Have

There are many different types of millionaires out there. Some have made their riches in the stock market; others have made millions in real estate. Regardless of the industry and style, though, most millionaires do have a few things in common (other than just money).

Often, millionaires share certain traits which help increase the odds of career success, you can NEVER guarantee profits or riches, all you can do is put yourself in the best position to achieve your goals. Be sure to read “An Athlete’s Guide To Stock Trading” and understand success all comes down to “boring old habits”.

Below I list some of those habits/traits so that you can work on incorporating them into your life.

1. Desire. Desire is absolutely vital to financial success. At the core of this is setting specific goals. They will create the spark of desire to succeed and attain what it is that you want. It’s this desire that will galvanize you into action.

Just idly wanting to be rich is not going to make or keep you millions. However, having specific things that you want incredibly badly to attain and setting yourself to do whatever it takes to attain those things will get you there. This deep-seated desire is a trait common among millionaires.

Download a PDF version of this post.

See more in this video:

2. Skills And Tools. Millionaires absolutely need to assemble the skills and tools necessary to succeed in their chosen profession as to rise above the masses you must be extra-prepared. Now, this doesn’t necessarily have to mean formal education. Even though I did go to college, for instance, I taught myself how to trade penny stocks, which is how I began to make my fortune.

Groundbreaking tools like this can help you beat others in the stock market as technology can give you a leg up as this video shows:

Taking the time to truly learn your trade and develop skills is vital if you want to be successful in business. If you want to follow my path as a penny stock trader, consider my Millionaire Challenge. Basically, I act as mentor to my Millionaire Students, helping them by offering an education on penny stocks but also imparting some of the knowledge that I learned the hard way. Developing a strong skill set is vital to becoming a millionaire.

mexico-look-copy

3. Independent thinking. Yes, you need to develop skills, and this means learning from others. It’s important to absorb knowledge from a variety of different sources, including books, media, and a mentor. However, it’s equally important to retain the ability to think for yourself.

If, in your learning, you realize that you’re just becoming a parrot of facts and opinions of others, then it’s time to take a step back. To really succeed in business, you need to be able to think on your feet and problem-solve. So do pause during your learning to really ponder how you feel about certain things. Develop opinions and be able to defend them. Millionaires are able to think for themselves…for example, This Great Trader thinks entirely for himself, he doesn’t need my training or alerts AT ALL.

4. Perseverance. The dictionary defines perseverance as “steadfastness in doing something despite difficulty or delay in achieving success.”

Gaining skills, developing knowledge, and getting good at your chosen field have something in common: they require time and perseverance. You have to be able to commit to doing what it takes to get ahead in business. At times, it will be challenging, and you will want to quit. Things will get hard or discouraging or confusing. But if you persevere, you will penetrate a level of success that few realize.

sykesmoney

5. Vision. There’s a reason why many millionaires are referred to as visionaries. Sometimes, it takes vision to see opportunities and ways to make money where others haven’t before. After all, Walt Disney never could have become a millionaire if he didn’t have the vision to see an opening for a magical world that nobody had considered before.

Having vision doesn’t mean that you have to be a creative genius like Disney, but it does require that you think out of the box a bit. Believing that you can find success and sometimes in unexpected ways is one of the traits common to Longtime Millionaires.

6. Passion. To become a millionaire, you have to move past being just a good worker. The best work ethic in the world won’t get you ahead without a driving force. To really stick with it and succeed, you need a deep passion for the process.

What if you don’t feel as if passion comes naturally? There are tips that I can offer.

One is that you need to really focus on your goals and turn your work into a game: let the passion for what you want drive, turning your work into a game that can get you there.

Another is that you need to challenge yourself to find something in your work that you really, really love. For instance, in penny stock trading, you might not love doing your research–it might not ever be anything other than boring. But if you can develop a love of the process of trading and choosing which stock, this will keep you going in the long run.

7. Reason. Millionaires dream big, but they also have the ability to get real. This means that sometimes, they have to face their strengths and weaknesses to make reasonable choices which will be the best for their career.

For instance, you might not want to walk away from a business deal, but when you’re meeting resistance and losing money, sometimes you have to have the wherewithal to cut your losses.

As another example, reason means that you have to know when and how you can improve in various situations. Sometimes this can be hard to do, but the ability to reason will help you in becoming a millionaire.

13418465_10153874998769132_4146533087917472980_o

8. Patience. You’ve heard that patience is a virtue, right? This is particularly true if you want to become a millionaire. You need to calm down and be patient.

It’s true that it doesn’t need to take years and years to become a millionaire. Nonetheless, it’s unlikely to happen overnight. You have to stick with the process and be patient while you slowly improve.

Moreover, there are many different types of people who become millionaires. But regardless of the industry or personal style, there are certain traits which most millionaires share. By cultivating and developing these traits yourself, it’s highly likely that you will see improvements in your professional life.

Which of these millionaire traits do you have? 

8 Ways To Become A Better Trader

8 Ways To Become A Better TraderURGENT: You have until February 1st to save big HERE on this website you should be using every day to enhance your trading

Most traders could use a little improvement. If you want to be at the top of your game, professionally, it’s important to continually work on improving your performance.

As a trader and an entrepreneur, the self-improvement never really ends, if you want true and lasting success. You want to constantly refine your trading methods, stay on top of current events and keep on improving, to remain competitive and relevant and, most importantly, to do the best you can. Continue reading

The 17 Best Lessons To Remember In 2017

URGENT: Save 35-70% off holiday specials HERE FOR TODAY ONLY and this 11-hour guide is free for just a few more days too (it’ll be $500 within just a few more days so watch it all NOW ASAP!)

Happy MLK Day! Every year we have this special day off to remind ourselves of a great American who fought for liberty and equality.  In the past, I’ve made analogies here with respect to the disgusting biases that exist in the finance world and Wall Street.

I know, I know, it’s not nearly as important as what MLK stood for, but it’s important to note, so that you can understand the opportunities that exist in the stock market thanks to this bias.

To celebrate MLK Day this year, though, I won’t give any corny speech.  To truly capitalize on the opportunities that I see unfolding every day lately, I want to review some basic lessons from the past year that I think are crucial to your eventual success.

Download a PDF version of this post.

2016 is now over.  Hopefully, you read my blog post, “Reviewing My 2016 Performance” and saw my video below about my top trading challenge student making nearly $1 million:

…and now you see HUNDREDS of my students profiting every day now, as I outlined this video that surprised quite a few people:

(in the interest of time, I normally only feature 5-10 students per day, I’d have to do 90-minute daily video lessons to try to highlight everyone doing well.  Even then, I would miss many.  The beauty of my near decade of teaching FINALLY paying off)

…you know it was a VERY good year for myself and my students, thanks to some truly incredible stock market volatility in the last few months of the year that allowed junk penny stocks like DRYS to spike from $4 to $100+ in just 4 days and then come all the way back down just 4 days later and IDXG to spike from $1 to $20/share in just 3 days.

2017 has started out incredibly strong too, as we’ve seen SEVERAL incredible Supernovas on absolute junk biotech companies, like ETRM, which went from $2 to $30 in 4 days and now back to the $13s just 3 days later and DFFN, which just last week spiked from $2 to $15+/share in just 2 days, before crashing and burning like all the rest.

So, here are 17 lessons to help you crush it in 2017: Continue reading

How Many Of These 12 Millionaire Habits Do You Have?

URGENT: Save 35-70% off holiday specials HERE for just a few more days

I’m VERY proud of my several Millionaire trading challenge students, as it’s my job to create millionaires from scratch.  So, I’m addicted to my goal of creating more. I’ve dedicated my life to understanding EVERYTHING, the ins and outs of what it takes to actually become a millionaire and one of the most important lessons in your journey is that actions speak louder than words… Continue reading

9 Traits Of Successful People

URGENT: Grab these 35-70% off holiday sales for just a few more days, while I catch up answering too many email questions!

What’s the secret to success? The answer will differ depending on who you ask. Some say that it takes hard work and dedication.  Others attribute it to luck. But, if you ask me, the true “secret” is that there is no secret.  Success is more the result of cultivating specific traits in your personal and professional life. Continue reading