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Trading Psychology

Your Vibe Is Your Tribe

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Written by Timothy Sykes
Updated 9/4/2022 6 min read

Monday’s hit a lot different for me than most folks.

Most Americans dread their job and the people they work with. Even worse, they feel underappreciated and underpaid.

For nearly two decades now, I’ve been showing people a way to get out of the rat race through my coaching program. 

From what I know, there’s no other trading coach who has helped develop more millionaire students than I have: over two dozen and counting.

I share that not to brag but to show you what’s possible.

You see, changing your circumstances starts with developing the right mindset.

And while that sounds simple, it’s a lot more challenging than you think.

Your friends and loved ones will discourage you once you tell them about your lofty goals. Maybe they tried to do something great and failed and don’t want you to experience the pain of failure. Or maybe they don’t want you to be more successful than them (that’s actually a thing).

It’s time to mute those negative people in your life and start getting serious, if you want to climb the ranks of financial freedom.

If you’re tired of losing, feel stuck, and want better for yourself, listen up…

Because I’m about to share with you the three steps, you MUST take to become the best version of yourself.

Step One: Invest In Yourself

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Forget about bitcoin, stocks, and real estate. The greatest investment you’ll ever make is in yourself. You do that by learning and developing skills. And the fastest way to get results is by teaming up with someone with a proven track record.

Even though I’ve made over $7 million in trading profits throughout my career, and I have more money than I’ll ever need, I still suit up every day and trade.

Why do I do that?

Because I believe in leading by example, who wants to work with a trading coach who isn’t in the game, who doesn’t apply the strategies they teach?

That would never sit well with me.

You can trial and error your butt off, but why do that, when you can lean on someone who has been there and done that, and has had success in the area you want to succeed in.

Invest in yourself by getting a proper education. You’ll save time, and potentially money from the losses you’d incur from DIY, and you’ll reach your goals faster.

Step Two: Put In Reps

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A fool and his money soon part ways. I can’t tell you how many stories I’ve heard over the last year of people who started trading crypto and stocks in 2020, caught a hot market, made a boatload of cash, but didn’t take profits, and are now deep underwater.

Believe it or not, the worst thing that can happen to a new trader is having success early.


Because it gives them a belief that they’ve got the game mastered and no longer have to study charts, review trades, and journal.

No one believes they can pick up a basketball for the first time and compete with Lebron James…hop in the pool, outswim Michael Phelps…or out flip Simone Biles on the mat after watching a YouTube video.

However, so many delusional people think they can make millions in the stock market right off the bat.

Just over 1% of all adults worldwide are millionaires. If trading was that easy, don’t you think we would have more millionaires?

What trading offers is unlimited opportunity. Whether you maximize that opportunity is totally up to you. And while some think the amount of capital they start with will dictate their success, that’s not true.

Several of my millionaire students started with 4-figure accounts and grew them over time.

Stop chasing fast money…and start thinking long-term. The first few months, even the first couple of years, might seem like an absolute struggle.

But believe me, if you stick with it, study hard, and learn from others who are having success, your chances of winning the game are greatly improved.

I will show you the best strategies I’ve discovered for making money in the stock market but stop looking for shortcuts.

Step Three: Fall In Love With The Process

61% of Americans were living paycheck to paycheck. And while that statistic is hard to swallow for some, it’s the reality for a lot of people. Of course, everyone wants to make more money faster.

However, the stock market doesn’t care about your current financial situation. Some days, you feel like you can’t leave your screen because of all the opportunities. And there are others where you feel like the market is dead and trading is a complete waste of time.

You shouldn’t put unnecessary pressure by giving yourself profit goals. You can be trading smart but have no profits to show for it because the market isn’t giving you opportunities.

The reality is trading opportunities happen in waves. When the markets are hot, you have to strike hard. You must stay disciplined and wait for the next wave when they’re slow.

Focusing on the process is much more important than chasing money. Believe me, if you do the right things, the profits will follow. You don’t have to chase them.

How do you focus on the process?

  • Work on your trading plan
  • Journaling
  • Studying trends that are working
  • Reviewing winning trades
  • Judge yourself on executing your ideas, not how much money you made or lost.

Bottom Line

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The market right now is red-hot. New millionaire traders will be minted if it stays this way. However, most folks will miss out. Not because they don’t want to make it. But because they don’t have the right mindset.

If you want to develop the right mindset and finally change the course of your life, then hit me up. I’ll be waiting for you. 

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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”