timothy sykes logo

Penny Stock Basics

Tim Takes Nasdaq

Timothy SykesAvatar
Written by Timothy Sykes
Updated 2/15/2021 9 min read

No matter who you are and where you are in the world, dreams come true with enough hard work.

Read that again. Burn it into your brain.

Do you have dreams?

Here’s something I’ve dreamt about since I was a kid …

I used to watch CNBC when I was in high school. By that time, I already had a long-time passion for the stock market. I used to love watching the closing bell. I’d think to myself, ‘Wouldn’t it be cool to be up there someday? To close the stock market?’

That idea became a dream. The dream was a seed planted. Over the years I’ve experienced a lot of success and some failure, too. From becoming a millionaire while still in college, to losing big because I believed in a company doomed to fail. But the seed … the dream … was always there.

The Power of Dreams

© Millionaire Media, LLC

Fast forward to the present. I feel truly blessed. I get to travel to exotic locations. I trade to teach and donate the profits to charity. I get the opportunity to change young lives through building schools and …

… the lives of traders with the Trading Challenge.

On March 12, my closing bell dream came true.

Nasdaq invited StocksToTrade to ring the closing bell. It was a big deal for me and the entire StocksToTrade team.

Michael Markes, Nasdaq’s Managing Director of Global Information Services, introduced StocksToTrade. He then welcomed me and Tim Bohen to the podium.

Tim Bohen is the lead trainer at StocksToTrade and the presenter of the SteadyTrade podcast. After some inspiring banter about StocksToTrade and how far we’ve come in a few short years, Tim Bohen asked me if I had anything to say.

“I’m excited … let’s close this market!”

tim sykes closing bell button
© Millionaire Media, LLC

Michael Markes gave us a commemorative crystal to remember the event. Then, we invited the rest of the StocksToTrade team and some colleagues from our brokerage partner Tradier to the podium. Just in time for the closing bell.

I was all smiles. As the clock counted down to close the Nasdaq there were 14 of us gathered on the podium. Whooping and clapping. I remember thinking, “Wow … here I am … living one of my dreams.” It was amazing. A big honor.

(I’ve actually closed the market once before — another story for another time. Both times it was a dream come true. )

My point is, it wasn’t some kind of overnight success. It was the culmination of 20 years of hard work. It was the result of holding my dream as a vision — something I could see in my future over and over again. And I am truly honored.

All Well and Good for You, Tim … What About Me?

This post is NOT about me. It’s about teamwork. And it’s about you.

I share my story — through social media, videos, and pictures — to inspire you. I share stories of my top students to inspire you. I share my travels to inspire you. I’m sharing this event to inspire YOU.

Most people are victims of their own self-limiting beliefs. And fear.

Read that again.

We all have obstacles in life. (Yes, some have more than others. I get it.) I don’t care who you are or where you are in the world.

You can dream.

You can plan.

You can take action.

Best part?

You don’t have to do it alone.

On the Nasdaq podium another thought came to me … a confirmation of something I’ve known for a long time …

It Takes a Team To Build Something Great

Post image

Get my weekly watchlist, free

Sign up to jump start your trading education!

tim sykes team
© Millionaire Media, LLC

Every person on the podium with me and Tim Bohen deserved to be there. They all contribute to the success of StocksToTrade. I’m proud of every person on the team.

I’m also proud of my incredible students who help mentor others. And I’m grateful.

Because it takes a team to build something great. I simply don’t have the bandwidth to do everything. It’s impossible. My teams all work hard to make StocksToTrade, Trading Challenge, Profitly, and Karmagawa (am I missing anyone?) a success.

And here’s where you benefit.

Are you ready for the success you seek? Are you ready to make your dreams come true. With a big enough dream and a lot of hard work, dreams come true.

If it’s trading success you want — which makes sense because you’re reading this — we have an entire team dedicated to your education.

But there are a few things you need to remember …

It’s a Marathon and Not a Sprint

Ringing the closing bell on the Nasdaq was not the result of a sprint. StocksToTrade is young as companies go. But the total years of experience in trading, coding, business, training … I could go on … the total years of experience standing on that podium? I can’t even guess. 150 or 200 years? More?

Hard Work Wins the Day

Extraordinary gains are possible with enough hard work. I have to be careful here or my lawyer will cut this. Your trading journey isn’t going to be easy. There’s NOT an easy button. Be willing to put in the hard work and stick it out. In other words, deserve and earn the extraordinary gains. Plant the seed.

Failure Is Part of the Learning Process

You’re not gonna win all the time. You’re going to have losses. Tim Bohen has had losses. I’ve had losses. Tim Grittani has had losses. Even if your name is not Tim … you’re going to have losses. Losses are part of the process. Even when you achieve success you’re going to have losses. Accept it. The sooner you accept it, the easier the learning process.

Forge Your Own Path

Don’t try to copy me. Or anyone else. By all means, if you have a dream to ring the closing bell, then nurture your dream. But don’t try to copy my career trajectory. Make your own.

Which leads me to …

Self-sufficiency: It’s a Process

… Learn the process. Become self-sufficient.

My job as a teacher will be complete when you don’t need me. You want to reach the point where you don’t need me and you don’t need anyone.

How do you get there?

Here’s an old joke …

A young lady with a saxophone case is walking along 6th Avenue near 52nd Street in New York — looking confused and lost. She stops someone and asks, “Excuse me, how do I get to Carnegie Hall from here?”

“Practice, kid. Practice.”

Stupid joke, right?

But it’s so accurate. Trading success requires practice. Practice and study. No easy button. It requires hard work …

With practice — and study — you can become self-sufficient. How long are you willing to be patient and make nothing? How much time and effort are you willing to put into your education? How much skin are you willing to put in the game?

Closing Bell

tim sykes team closing the nasdaq bell
© Millionaire Media, LLC

Closing Nasdaq was an amazing experience. It was an honor. It’s a memory everyone on our team will remember for the rest of their lives.

This is the kind of experience I want you to have.

Start making a list — your bucket list. Create your dreams. Build your passion. Join the Trading Challenge and get it done. Life is amazing — but you have to go for it. It’s not a dress rehearsal. Go get it.

Will it be easy? Nope.

But in a year, maybe 2 … or even 3 years … it might get a little easier. But you have to take action now.

Ringing the Nasdaq closing bell? If it’s on your list, make it happen. I’ll cheer you on every step of the way.

Are you a trader? What are your dreams? Share something from your bucket list. Share what inspires you. Comment below!

How much has this post helped you?

Leave a reply

Author card Timothy Sykes picture

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”