Before you go gaga over Timothy Sykes, I urge you to watch Wall Street Warriors. It probably, still on You Tube. I think I watched it on Hulu maybe, 5 years ago. Anyway, to make a long story short, a fund manager interviewed Timothy Sykes and he ran a $10,000,000 hedge fund then. Of course, he did not know that he day traded those small penny stocks. The huge problem is that small penny stocks are not scaleable. He did not give Timothy Sykes the $10,000,000. Instead, after that, I read that he lost most of the monies in his hedge fund (most of it his friend's monies) although, he had some monies in it and ended up closing the hedge fund. I actually, bought a couple of his DVDs cheap on Ebay to see his methodology. This guy does not use stop losses. Not here to debate anyone on the merits of having a stop loss. Probably, the same reason he suffered huge losses on that one stock in his hedge fund. He kept holding and holding onto the losing stock. A stop loss would have saved most of his friend's monies.
He probably, makes millions selling his seminars. At some point, day trading penny stocks, all of his students and him will dilute the share price don't you think? When you have say 200 people piling on a penny stock with low float, it will sky rocket. Question, how many of the 200 will actually, make monies? Most will crash and burn when there are no buyers left. Simple math. Funny, Timothy Sykes talks about the pump and dump in his DVDs.
In all my years watching Kris I've never seen him trade a penny stock and as far as I know that's the only thing Sykes trades. Plus I've seen Kris hold a position 3 weeks(or more) and I doubt Sykes would hold a position that long.
Timothy's main game was to front run a cheap, low volume OTC stock each month and then sell it to his subscribers who "pumped" it and drove the price up, then Tim "dumped" it. Now that Timothy has made some money and notoriety, he "sells" scam trading systems to his audience. There used to be some very big pump and dump OTC trading boards on Raging Bull forum. I use to get a chuckle out of following the Millionaire Boys Club thread. Only the posters with some clout could gain enough followers to pump the stock before the dump. Timothy gathered some clout with his used car salesmanship.
%% LOL Eagle Forum female founder Phyllis Schafly said ''men are easily fooled by a skirt '' LOL But i haven't seen her skirt+ glad i bought T Sykes Hedge Fund book; seldom trade penny stocks, but do Pick Up a penny on main street. I like 12 hours a day more than 14 race , but may have to do that race some . I seldom make racial comments like this ; but that woman seems like a different race from me, nice 14 hour work week, maybe Asian. I noticed some Asian kids play harder/ to a kid /play is like work. Certain not calling her a kid ; end racism, my Mom was named Mari...... [Edit not calling anyone here a racist, NPR plays that blame game all the time]
%%% I may do that $149 per month [1] if I was female + [2]did not love to do my own research. I'm fairy convinced the $30.00 +/ I paid for American Hedge Fund[book by T Sykes] was +is well worth it; not sure why he named his publishing co Bull Ship Press. %%% He's pretty emotional in that video, maybe more so than that milionaire female trader. Maybe trying to sell something; i sold some stuff today also QID/SH/XLK ........ OH !!/ you make me feel like a million bucks; I want to drive you around in an armoured truck/ I want to buy me a bass boat + Z-28/ but i guess that stuff will have to wait Song by J Anderson, Big + Rich/ Better Than Money in The Bank Song CMT 27k video views The one in the bank video version has >1,277,777 video views
Sounds like Jonathan Lebed(1998) and his message board and email fun on Raging Bull, SV, AOL, Yahoo, Fool. He was a smart shill! Satisfied Customer.
hello! thanks for dropping in. yes it is. and she did it in just like 2 years time. i saw that now she's at about 1.69 million. not bad! my pleasure!
Good Evening rbigsby, I am VERY impressed. VERY impressed No sense in trading if can not be a millionaire in 5 years max.