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Trading Lessons

20 Years on From Wall Street Warriors

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Written by Timothy Sykes
Updated 6/4/2026 4 min read

So much has changed in trading in the past 20 years…

…and so much has stayed the same.

Which made it a no-brainer when Scott Gill and Sean Skelton, producers of Wall Street Warriors, contacted me to do an anniversary breakdown.

Sean was very kind when he called me “an American success story.”

Like so many success stories, I had help along the way.

Wall Street Warriors gave me a springboard for teaching and building my businesses.

They didn’t even realize it.

It’s crazy to think of everything that has happened since then. I’m very blessed.

Want to see how YOUNG I looked?

This was my first appearance 20 years ago…

Wall Street Warriors S1 E2 “Closing the Deal”

I can’t thank Scott and Sean enough for asking me to be on the show.

As they said in the breakdown video below, Wall Street Warriors was supposed to be a show for affluent young men. Or maybe aspirational young men.

What they didn’t know before I told them was how much influence the show had on me becoming a teacher.

SO many people who’d seen me on the show reached out and asked me to help them get started in the industry.

I’d already had some engagement from an appearance on CNBC, but because of industry rules banning me from advertising my hedge fund to the public, I needed to get my name out there.

More on how much the show meant to my teaching career and charity work, but first here’s the 20th Anniversary Official commentary video…

Wall Street Warriors 20th Anniversary Commentary | S1 E2 “Closing the Deal”

I hope you enjoyed that. By the way, you can watch original episodes here.

Here are some thoughts on that episode and the entire experience:

  • I should’ve marketed a bathrobe back then. Would it have been a success?  Comment below and let me know.
  • Everything I teach today, the patterns, the lessons, the trading tips…is the same as what I’ve been doing for 28 years now. And Wall Street STILL looks down on penny stocks (even though it’s created 50+ millionaires).
  • The one big difference is that I don’t short sell. And I advise newbies against shorting because it’s too risky.
  • If anything, we’re seeing even MORE of the same patterns playing out faster, with premarket and after-hours trading (and millions more traders).
  • Wall Street Warriors, along with an article in the New York Observer, sent a stream of young investors and traders my way. They didn’t invest in my hedge fund, but it got me thinking about teaching.
  • Without Wall Street Warriors I wouldn’t have been able to start donating to charity and building schools. So, thank you Scott and Sean. 33,000 kids around the world go to our schools (in places where education is the difference between poverty and hope).

Final Thoughts On the 20th Anniversary of Wall Street Warriors

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People watching the show learned a lot.

It was both entertaining AND educational. Infotainment, right? And that put the show on the cutting edge.

Even though I was drinking during most of the filming (I was young and nervous), it was a pivotal experience for me.

Now something for the coming week, because it’s gonna get CRAZY…

Catalyst Watch: SpaceX IPO Hype Has Every Trader Looking for “To the Moon” Space Stocks

For the next week, the SpaceX IPO is going to be front and center.  I’m sure you’ve already seen and read a lot about it.

But from today it will be everywhere from social media to mainstream news and magazine covers.

You won’t be able to get away from it because it’s the biggest IPO in history (and it’s Elon).

Everyone… financial pundits, twitter pumpers, even short sellers will be hyping the SpaceX IPO.

My advice: take a deep breath and consider the source.

In fact, I’m so sure that most people will try to chase SpaceX that I’m holding a pre-IPO briefing on Wednesday, June 10…

48 hours BEFORE the IPO.

Join me next Wednesday for an urgent pre-IPO briefing. 

I’ll also give you my top Supernova trade idea around the SpaceX IPO… FREE.

Cheers,

 

– Tim Sykes



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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity.
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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”