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Trading Psychology

My New Year’s Resolutions for 2022

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Written by Timothy Sykes
Updated 12/31/2021 7 min read

My New Year’s Resolutions for 2022: Key Takeaways

  • Set BIG goals and take action.
  • Written goals and accountability lead to better results.
  • My selfish truth: The bigger your goal, the better chance for me to hit my goals.

Click below to discover why… 

I Just Opened a Trading Account With One of the Most Disruptive Brokers for 2022

Happy New Year’s Eve! I sincerely hope you ring in the new year in a fun (and safe) manner.

This is the time of year almost everyone wants to make predictions and resolutions. I have two big goals for 2022. But first, a little tough love.

If you expect things to change for you based on the fact that it’s a new year…

Wake up. Your life will get better when you decide to make it better and take action.

Do you want to be a millionaire penny stock trader? Study hard. Focus on the process. Gain experience.

Whatever it is you want to do…

The world, the universe, God, whatever … doesn’t care if it’s January 1, 2022, or any other day.

All that matters is that YOU get busy and make it happen. How?

Set Big Goals for 2022 and Beyond

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Results of a 2020 study by Dr. Gail Matthews show that written goals lead to higher achievement. Accountability adds another layer and even better results.

But the study didn’t evaluate how big the goal was. I’m not knocking the study. Actually, it’s about time research backs up the urban legend about 1953 Yale grads.

I know a lot of very successful people and they all set BIG goals. Don’t set small goals. It’s fine to ‘chunk down’ big goals into small action steps. But start with big goals.

Here are my two big goals for 2022…

New Year’s Goal 2022: Create More Millionaires

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I’m STOKED that so many students are ‘getting it’ after years of studying. I say it often and 2021 proved it … again. Success in trading is a marathon and not a sprint. ANYTHING worthwhile takes time.

It’s my duty to expose the lies and misinformation in this industry. So I started my teaching business because I wanted to help people.

The Trading Challenge was a logical next step. How many people could turn my knowledge into self-sufficient trading? And how many of those self-sufficient traders could become millionaires?

Now I have nearly 30 millionaire students. And more are closing in…

Like Evan and his brother who are both knocking on the million-dollar door. Or Bryce Tuohey, who’s experiencing a “classic case of consolidation at a major resistance level.”

I’m so proud of students who start by trading small and take it one trade at a time.

It’s also important to understand that all the new millionaires were ready when the market got hot in 2020. My goal is to create more millionaires. And I have no doubt there will be several new millionaire students in 2022.

Wherever you are in your journey, remember that it takes time. And with trading, you also need the right opportunities. So set a more refined goal…

Prepare now, today and every day, for the next hot market. That will help you reach your goal. And, selfishly, it will help me reach my goal of more millionaire students.

New Year’s Goal 2022: Build More Schools

lento learning center - karmagawa school
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My other big goal for 2022 is to build more schools. In my post about a hot new trading trend, I said how proud I was that Karmagawa completed 23 school projects in 2021.

I’m proud to say that we just completed our 24th school this year, the Lento Learning Center.

Creating millionaire students and building schools in their honor…

That’s what this is all about for me.

The school in honor of Tim Lento brings the total number of completed school projects to 96. Our goal is to open 1,000 schools worldwide. We’re not even 10% of the way there. But that doesn’t upset me. On the contrary, I’m inspired by the fact that even with lockdowns we’ve kept moving toward our goal.

There’s a huge lesson here. How long will it take to get to 1,000 schools? I don’t know. It’s a lot like trading. At first, you grow your knowledge account, then you slowly build your trading account. At some point, if you follow instructions, you can grow your account exponentially.

That’s what we’re doing with schools. We’ve learned a lot. The charities we partner with have learned. Things are speeding up.

One more thing about Karmagawa and our mission to build more schools…

Haters like to give me a hard time because I share our charity accomplishments on social media. They call it virtue signaling. But sharing everything on social media gets people interested. They want to get involved.

Using social media, we’ve now built 96 schools. But social media followers have built more. I have students who hit me up saying they want to build schools with their own profits.

It makes me proud that people inspired by Karmagawa have built another 20 schools! 

Set Your Goals or Resolutions and GO FOR IT

Tim Sykes pointing at you.
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Enjoy yourself this weekend. Have a nice time ringing in 2022. But also take some time to write down your goals. Make them big. Then chunk them down into action steps.

What can you do today and this week to prepare for next week? What can you do in January to prepare for the future? Get after it. It’s up to you. If you join the Trading Challenge, I’ll be your drill sergeant. But you still have to do the work.

Want to make 2022 incredible? GO FOR IT. I’d love to build a school in your name.

What do you think of my New Year’s resolutions/goals? Do you have any you want to share? Comment below, I love to hear from all my readers!

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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. Read More

* 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”