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What 23-Hour Trading Means for You

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Written by Timothy Sykes
Updated 9/21/2026 4 min read

The past few months have been crazy for traders.

First the PDT rule ended on June 4th.

Then SpaceX gave us the biggest IPO in history on June 12th.

Then we had a crazy Supernova summer (there were so many squeezes that short sellers flooded X with self-reflection posts).

As if all that hasn’t been enough to make the second half of 2026 a wild ride

Wait until you see what’s coming on December 6th.

A Market That Never Sleeps

Image created with Google Gemini
Image created with Google Gemini

Maybe it’s a reaction to 24-hour crypto trading.

Or the fact that somewhere around $17 trillion worth of U.S. equities are held by foreign traders and institutions.

Maybe it’s even the increase in retail traders who want more freedom to trade when they want.

Whatever the reason, Nasdaq confirmed it is adding a new overnight session starting on December 6th.

That means “23-5” trading.

You’ll be able to trade from 9 p.m. ET on Sunday nights to 8 p.m. ET on Friday nights.

There will only be a one-hour ‘maintenance pause’ from 8 p.m. to 9 p.m. ET Monday through Thursday.

What about the New York Stock Exchange?

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The NYSE was already approved for a 22-hour trading day when the Nasdaq announced 23-hour trading.

Not to be outdone, it joined Nasdaq and will also launch 23-hour trading on December 6th.

The crazy thing is, both exchanges consider it a stepping stone to 24/7 trading.

In other words, 23-hour trading is roughly 10 weeks away…

And 24-hour trading is coming.

Both exchanges also say the overnight session will accommodate Asia-based traders (I CAN’T WAIT for my next trip to Japan).

Millionaire Sleep Patterns

I won’t deny that this could be the end of sleep for me…

I already prefer premarket or after-hours trading, depending on where I am in the world.

Right now, after-hours trading is my favorite.

In my opinion, my new after-hours Overdrive strategy (and tool) capitalizes on the best time to trade.

But based on everything I’ve read about 23-hour trading, and my research over the past two years…

December 6th could change everything.

That’s why I’m holding an emergency briefing today.

12PM ET Today, September 22, 2026…

EMERGENCY Stock Market Briefing with Tim Sykes and Bryce Tuohey

Before you ask, I don’t know if there will be a replay.

But I DO know that what Bryce and I will share can potentially help you prepare for what’s coming.

Nobody knows for sure how much more volume will come into the markets (or what kind of insane moves we’re gonna see).

But imagine Europe-based traders being able to trade U.S. markets for nearly an entire session before the London market even opens…

Or traders in Asia not needing to stay up all night just to place a trade.

I think it’s going to get more wild than ever.

And those who prepare now put themselves in the best position to capitalize.

But to do so, you can’t rely on your knowledge or experience of regular hours trading from 9:30 a.m. to 4 p.m. ET.

If you’re not already trading extended hours (and even if you are) I URGENTLY recommend you join me and Bryce today.

Register now and I’ll see you in a few hours.

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”