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Trading Recap

Reflecting on H1 2023 – My Best & Worst Trades

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Written by Timothy Sykes
Updated 6/30/2023 7 min read

Just when you think you’ve heard it all, the unexpected sweeps the rug from beneath your feet.

All the pundits were ready to ring the recession bell, certain that stocks were on a downward spiral.

However, they couldn’t have been more off-target!

With a wave of innovation sweeping the market thanks to AI, we find ourselves amidst a raging bull run instead.

Now, as we stand at the halfway mark of this roller-coaster year, it’s time for some real talk.

Not just about the home runs but also about those pitches we wish we’d never swung at.

No sugar coating, just raw, hard-earned lessons from the highs and lows of my trading journey in 2023.

Whether you’re sailing smoothly or battling the tides, it’s never too late to change course.

So, strap in, and let’s dive into my best and worst of H1 2023.

The Peak Performers

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MGOL, an under-the-radar stock, exploded onto the scene due to Lionel Messi, AKA The Greatest Soccer Player Alive, deciding to move to Miami and play in the MLS.

Messi’s move hasn’t been in the headlines much yet, providing a unique opportunity. The secret sauce here was not rushing into the trade and waiting for the right dip-buying opportunity.

With a disciplined approach and a close eye on the news, a fantastic opportunity presented itself, resulting in significant profits.

Source: StocksToTrade

Then there was GTII. This former Supernova proved its worth again with a solid first green day, showcasing the potential of a well-timed trade.

One of the unique concepts I teach is the First Green Day.

In fact, I made a whole YouTube video about it here.

But to highlight, when an OTC stock runs hard on its first big green day and holds its gains to the close, you play for it to gap up or run higher the following day.

It’s a pretty simple concept that can be a trading strategy in and of itself.

However, if you combine it with the other two concepts discussed above, it creates some pretty powerful trades.

Think about it like this…

GTII said it planned to investigate illegal short sellers on Friday aggressively.

That pumped the stock, which held its gains going into the close on Friday.

As a former Supernova, GTII was pretty popular amongst traders. So it was a good bet that promoters and word of mouth would get folks interested in the name over the weekend.

Sure enough, shares popped hard at the open on Monday, ripping another +30% before all was said and done.

Key takeaway? History matters…that’s why you should look at price charts on multiple time frames and give former Supernovas added respect. 

Source: StocksToTrade

BBAI and EFTR – The Learning Curves

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Even in losses, there’s a goldmine of learning. BBAI was a harsh lesson in discipline and the importance of cutting losses quickly. Averaging down out of desperation proved costly.

This experience underscored the essential lesson of owning one’s mistakes and learning from them, not shying away from self-scrutiny.

I missed the breakout in BBAI. I tried to dip buy too aggressively, and then when the real dip buy opportunity came…I was already out of bullets.

What can I say…an absolute disaster.

I  was forcing the action. Trying to get past $7.5 million in trading profits and pushing to get my monthly gains up.

But the market doesn’t care about my profit goals.

And that’s the funny thing about trading.

The more you desperately want to make money, the less likely you will.

EFTR served as a similarly humbling reminder. Not sticking to rules, succumbing to market pressure, and breaking discipline can lead to substantial losses.

The importance of focusing on A+ setups, understanding the importance of the right entries, and practicing patience were reinforced.

My loss in EFTR is an absolute embarrassment.

Not only did I botch the entry, but I also botched the order size and then completely forgot to watch the news. The company announced an offering while I was long the stock.

Everything that could go wrong did.

This is a problem.


Because I’m typically making anywhere between $400 to $800 on my winning trades.

I need potentially several dozen winners to make up for that one loss.

And that’s simply how you DON’T want to play this game.

But that’s what you get when you break the most important rule.


Mindset and Strategy Adaptation

jack and tim
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Trading is as much a mental game as it is a strategic one. Emotions can often cloud judgment, leading to rushed decisions and loss amplification.

Thus, maintaining the right mindset, staying patient, and sticking to proven strategies are critical.

Embracing failure as an opportunity to learn is crucial in trading. Each trade, whether a loss or a win, holds a lesson.

It’s these experiences that shape a successful trader. Adopting a continuous learning approach, focusing on the process rather than the outcome, and setting process-related goals can steer the trading journey in a profitable direction.

As we move into the second half of 2023, armed with these lessons from the past, let’s take on the markets with renewed vigor and a refined strategy. 

Whether you’re a seasoned trader or just starting your journey, remember each day brings a new opportunity to learn and grow.

And if you’re looking for someone to help you take your trading to the next level, CLICK THIS LINK to see if we can work together.


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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”