In a perfect world, I’m able to travel and trade any time…
Time for a reality check…
In reality, we are in the middle of a choppy, choppy summer.
I’m trying to trade at different times, but it’s just not working.
THAT has led me into one of the oldest traps in the book: Overtrading — the habit that kills trading accounts.
One reason I travel so much is because I overtrade when I’m back home.
Travel and charity keep me busy.
That way, I’m not glued to the screen with my charts open in one window and my broker in another.
And THAT keeps me from taking dumb losses.
The problem is that I’m a trading addict (yes, I admit it)…
Sometimes I force it (especially when I’ve missed the best time to trade something).
At least I’ve created the good habit of cutting losses quickly.
But the truth is, I gotta be more careful.
That one habit of mine, overtrading (especially weak setups), is just dumb. And it has killed my trading more than once.
I’m trading with a small account right now. Sometimes I’m even using a paper-trading account.
So it really doesn’t matter to me financially, but I want to make good trades.
Why I’m Trading Small Right Now
The reason I’m trading small is because I haven’t earned the right to trade big.
Frankly, I don’t think anybody should be trading big at this time in the summer.
This is when I used to travel to Positano, Italy. I chose August to try to get away from wanting to trade during the August doldrums.
It’s crazy. My addiction leads me to trade sub-par setups.
So, I’m trying to trade less in August to protect my trading account.
Catalyst Watch: Follow the Qs
Just because I’m trading less doesn’t mean I’m taking days off. This is still an opportunity to study and STUDY HARD.
For instance, this tweet from OddStats caught my attention…
The Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100, finished the first 150 days of 2026 with a return of +17.7%.
There have been eight years where it was up that much after 150 days. In seven of the eight, the Qs finished the year higher:
Source: X
That’s pretty cool, right? Who knows if it will hold true this year, but I wouldn’t be surprised.
Why?
Because we’re close to all-time highs, and earnings have been amazing.
Let’s GO!
Overtrading is one of the worst habits I see in traders (including me).
If you feel like you’re overtrading, you are.
Even if you just wonder, ask yourself this question:
Am I being meticulous with every trade?
If you are not, then why are you trading?
I’m committed to doing better and trading less.
Stay disciplined and only take trades when the setup is so good that you’d feel guilty NOT taking it. At least until Labor Day.
Cheers,
Tim Sykes
Editor, Tim Sykes Daily
P.S. I asked you earlier this week who was ready to be my next millionaire student. Your response was amazing! I’m so happy to hear from my motivated students like Nathan, Siegfried, Kim and Donald!
A few people asked how to get started. The simple answer: You already have! By reading Tim Sykes Daily and studying the trades and lessons I share every day.
Learning is always the first step. And I’m so happy to have you on this journey to $1 million. Stay tuned, and I’ll share next steps and new opportunities with you.
Until then, keep in touch! If you want to earn the spot of my next millionaire student, let me know here: SykesDaily@BanyanHill.com. I’d love to hear where you are in your trading career so I can share the most important lessons with you next.
Let’s goooooo!
