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Want To Trade? Choose Your Path Well

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Written by Timothy Sykes
Updated 10/28/2026 6 min read

In trading, long-term success comes down to one or two big mindset shifts.

The good news is that you get to choose your own path.

But you have to make a decision…

Will you do, for a short period of time, what most people won’t…

… to live a life of freedom that most people can’t?

Understand that trading is a competition (two, actually).

The first competition is you versus you.

But at the end of the day, you are competing with other traders.

The VAST majority of your competitors simply aren’t willing to put in the time required. They just don’t want it bad enough.

To succeed, you MUST embrace this…

Short-Term Sacrifice

Trading is TRULY great if you make the short-term sacrifice to learn the rules.

Image created with Google Gemini
Image created with Google Gemini

Understand that the information, the knowledge you need to succeed, is not infinite. A lot of people get scared away because it seems like there’s so much to learn.

I assure you that most people are capable of learning what they need to know in two to three years.

Don’t take that the wrong way. I can’t guarantee the time frame.

I have zero idea what your work ethic is, okay? It might take you less time. But it could take longer.

For example, I have one student who took ten years before he sized up.

Still, I believe you have just as much opportunity to succeed at trading as anyone else…

  • IF you are willing to sacrifice time to grow your knowledge account
  • IF you are willing to practice with small positions first, and…
  • IF you learn the rules and stick to them

The problem is that most people underestimate…

The Power of Delayed Gratification

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The Night Tape, every trading day after the closing bell, plus The Second Session guide.

Even after you learn the rules, you MUST practice playing by the rules. Then, over time, you can reap the rewards.

One of the all-time great investors, Warren Buffet, famously said…

“The stock market is a device for transferring money from the patient to the impatient.”

Investing and trading are not the same, right?

What I teach is different from the value investing strategies that Warren Buffett and Charlie Munger used to grow Berkshire Hathaway (NYSE: BRK.A).

But delayed gratification applies to trading, too (especially if you’re new).

The money you make or lose in the beginning means almost nothing.

That is, unless you blow up your account trying to trade big position sizes before you’re ready. Or if you don’t learn to cut losses quickly.

That’s why getting an education is SO important.

Every single trade you make gives you data. But you MUST focus on the process and delay the monetary gratification.

It’s up to you to…

Choose the Right Path

Which path do you want to take?

Learn and eventually earn (over time), so you can build something beautiful for yourself and your family?

Or…

Be stubborn, bitter, and lazy?

Obviously, I can’t guarantee your success. There IS no guarantee in trading, except this:

People who fail are those who…

  • Don’t study
  • Don’t learn from their losses
  • Keep repeating the same mistakes over and over, and….
  • Quit (or blow up their account)

I’m being straight with you when I say that not everyone will succeed.

But I strongly believe that anyone CAN succeed.

One final thought on this…

Making Mistakes Does NOT Disqualify You From Success

In fact, if you’re not willing to make mistakes, you will get NOWHERE in trading.

So many people try to be perfect (it drives me crazy).

You are NOT going to win 100% of the time. You don’t even have to win 50% of the time if you understand how to cut losses.

But you’ll never even get started if you’re not willing to make mistakes.

Mistakes are the best way to learn!

Trade small and make mistakes. Learn from EVERY mistake, collect data, and get better.

Millionaire Moves

Strati, our Inner Circle lead trainer, had a nice win trading AI OKTO CORP. (NASDAQ: AIOK) on Tuesday (Oct. 27).

In case you don’t know, Strati was a gym teacher before he turned to trading.

According to Strati, my “no sugarcoating” approach helped him to become a better trader AND a better teacher.

I can tell you that Strati is a GREAT teacher in his own right. I’m proud of the hard work he’s put in.

Pay attention, because this is super important…

Strati has struggled at times, just like every one of my millionaire students. What he didn’t do was quit, get bitter, or get lazy.

He chose his path well. Here’s what Strati did:

  • Study every day
  • Practice (Strati has done everything from sizing down to paper trading when things aren’t working)
  • Keep a positive mindset

How did Strati get started?

He got cocky after a single win, then lost it all about a week later. That’s when his inner teacher kicked in. He realized education was the path to success.

Do you have what it takes to become one of my millionaire students?

If you’re ready to choose the path of education and dedication…

Apply for my Trading Challenge today.

Key Takeaway

If you truly want to gain freedom through trading, it’s going to take time.

You will have to adapt to changing markets.

You will have to learn a new strategy when your favorite strategy stops working.

You will probably have to go through different market cycles more than once before you hit your goals.

But the most important thing to understand is that YOU get to choose.

Will you choose the path of education, opportunity, and continued growth?

You got this (I believe in you).

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”