Tim Sykes Cuts Through Trader Daily's BullShip
Tim Sykes Cuts Through Trader Daily's BullShip
When did Trader Daily actually start checking performance?
Their fact-checker came to ET. Solid organization.
Game. Set. Match for Trader Daily.
there are extremely few top traders who have not had massive drawdowns---publicly or privately--it's part of the game. very weak criteria for not being invited. TM is being vindictive and petty, which will only hurt them in the long run. hey, i wasn't invited either, after being "on the list" last year--i guess they found out about my poor personal trading performance on surf report. LOL!
You were on the "30 under 30" list?
the guest list only.
neither were 770 plus of the 800 at this years event.
they claim 800, but from what i've heard, it was more like 400-500. i think they're counting the waiters and kitchen staff
I guess you are still bitter you were uninvited, grow up putz!
funny, your right, i don't think 800 would fit in that place.
No I'm bitter that I was invited 3 days before the event, but then disinvited the day before. I didn't do anything that weekend so my question is what changed? I'll probly never know, but it was very rude nonetheless
Have you thought of a musical career Timmay?
I was in choir in high school, but I wasn't very good. I think I'll stick to trading, writing, and speaking
any press is good press.
Whats funny is when people bash timmay they only make his name more popular, and tim being a smart guys knows this.
Everyone knows Cramer, even if they don't listen to him he still makes $$$ and more $$$ the more people that watch him and listen. Its about advertising returns, anyone can be rich, but its hard to be famous
LOL, well you aren't any good at trading either, so I should it's worth your time to give a try for American Idol.
Yeah tell Michael Vick that.
Woah there buddy, I'm pretty good at trading, def. not great, but def. not time to resort to AI
right lets compare having a negative return on an investment fund to getting caught for criminally fighting dogs and betting on it.
Please reread what you said before making silly comments like this:
You said any press is good press. That means ANY press is good press. Tell Michael Vick that. He is getting plenty of press and it doesn't seem to be helping him out. If you really didn't mean what you said then I understand, but that doesn't make you any less wrong in arguing with me based on what you typed..
Humiliation pays in bad press!! Good press, bad press, my guess is that the dis-invite was orchestrated, TM gets press too. Everyone wins.
Don't worry TS, I will probably be reading the book anyway.
(*signed conspiracy theorist)
anyone got a torrent yet?
You probably guess Phil Spector is innocent too.
TS lost big and was humiliated big-time. Who can orchestrate that? I would've done anything and everything to keep those grovelling, begging emails from public view, and i'm sure TS now wishes those emails didn't get out.
TS is on a hard downward spiral. So look for even more desperate tactics going forward.
"Only 4 books left, get them while they're hot!!"
Love all the guys ripping into TS, fact is he has done something that all of us dream of doing. In so doing he got s boatload of attention which changes the spectrum completely. I truely believe Trading is a full time job and trust that once the dust settles and Tim gets some time to himself to trade the fund again full time instead of writing, publishing, advertising, trading at the same time he'll be great once again. For now he's experiencing the ups and downs of being in focus, at least he handles it better than britney spears...
just my 2cts
I personally believe that US Americans such as can help the children in Iraq and also vote for such as Timmays book 5 stars on Amazon on a map.
what the fuck are you even saying you retard?
Thanks man, all this attention is still new for me, but thanks to the haters, I don't get embarrassed anymore, everything just rolls off me. This will be hugely important down the road because my pro-speculation stance will not make me many friends and yet it's what I believe in.
Success favors those who are willing to lay it all on the line
from now on we must refer to this worthless POS magazine as Traitor Monthly.. thanks Tim
When will your "pro-speculation stance" make any money in this market? Then, you will have investors/friends of your Fund.
Just biding my time for the right opportunity. Today we've got a lot of possible reversals, JRJC, ZVUE, CPSL, SCON, hopefully they'll keep going, but eventually they will fall and I'll be there when it happens.
I donât think people hate you they just donât like you. I am impressed with some of your trading stats but you seem to want special treatment. Like you were invited to a party and then told not to come. Your record was a losing record this year so you really never deserved the invite to start. You come off like the guy who got a free lunch then complained he could not take a bath in shit and eat the meal sitting indian style in the middle of the restaurant.
Of course some people don't like me, they don't know the details. Randall Lane mistakenly believes I'm not a hard worker and that my media appearances have hurt my trading. But he didn't read the book I sent him so he doesn't know my trade setups come about sparingly, all my losses are due to CYGT, and that I've long battled my addiction with overtrading and that my media appearances actually help my trading because they force me to focus on worthy plays.
But he didn't want to try to understand all that and instead rushed to judge me, as many people seem prone to do. I leaked this argument because it's a shining example of how this lack of transparency causes harm.
Good points brokerboy; Looks like after Tim Sykes lost over a third of investors money, Trader Monthly needed to step in and re-evaluate their standards.
How did one position ruin your fund? You must have been balls-deep into this thing.
I am sure you have things to bring to the table to a lot of people on here. My problem is your screaming your great on your media appearances and your record for the year is whacked. I would agree walking away from the computer from 11 to 2 will increase most day traderâs profits though.
Nobody cares about you in life but you and maybe your parents. Youâre looking for outside people to be fair and read whatever you say but they donât care about you and they donât need to do it. If you make yourself more likeable you will notice people will like you a little more and not try to kick you whenever they can.
Just my 2 cents
If you raised those points in your e-mail chat with Mr. Lane and were more professional, that argument or line of reasoning might have worked, but that is not what we all read. I wish you the best of luck but my advice, take media training to ensure you can put across the right image of who you are.
I think is worked well enough... who wanted to get into a shitty partay?? but, being mentioned in all the news outlets as a "HedgeKing" that was left out; oh man: that's PRICELESS...
Those are the exact points I put in my email, they just didn't print it because it's a gossip column.
Even after that one long position crashed; Sykes/Cilantro Fund continues to lose money this summer, down more during Aug/Jul 2007.
Tim Sykes claims the losses have stopped; but truthfully losses continue right up to the present.
Check the monthly closing price of CYGT and when I say the losses have stopped, I mean the large losses. Sorry for not clarifying
Hi Tim, do you think this is a good place to buy CYGT? umm at 0.08, I think I could buy a lot of shares. and if it goes up by .02, I make more than 20%.. wow, that's crazy
Thanks for trying to be "brutally honest"; maybe a little "clarification" at your Amazon blog would now be appropriate.
Nah man, the main lesson of my book is to stick to stocks that are in play. Don't try to go for the seemingly easy gains in Penny Stocks because there's always something hidden
Man its a blog post, stop trying to critique every little thing I say and focus on the overall lessons
So much for Tim and honesty.
Honesty and snake oil don't mix.
Sykes Amazon Quote: "Yes, my hedge fund is off its highs, ....."
..."fund is off its highs"...
That doesn't sound like a very precise description of the Sykes/Cilantro performance over the past few years?
Maybe somebody can help Tim get the facts straight...
Yeah ok, I doubt you even believe that yourself. But hey, that's the life of a snakeoil salesman.
Really, who do you think you're fooling? Focus on salvaging whatever is left of your fund if you are truly a trader and hedge fund manager. The last thing you want is publicity right now.
I do think you're doing a good job of milking the gracious hand that was dealt to you, and if I knew you personally, I would give you some respect for it. Well, only if you were honest about the bullsh*t.
At the end of Wall Street Warriors, you sound upset when you mention how hard it is to raise money for young fund managers.
Then you invest large chunk of your fund into illiquid and pink slip traded stock.
And I remember you saying on one of the threads that you did it to impress your investors with good return. This is precisely why young people have difficulty and should have difficulty even with track record of turning 12k into 1.5 mil.
Since you day trade a lot, I would recommend switching from stocks to futures.
Your confusing lots of different things there. I didn't invest in Cygnus because I wanted to impress new investors, I invested because I thought the company was going places and that their stock would likely rise. I loaned them $ because I naively believed it to be a low-risk situation.
WSW was filmed during the summer of 2006 and at that point, I was already fully invested in Cygnus.
Tim, did you loan them money or buy their stock? If a loan, was it secured or unsecured? Or was it some sort of hybrid multi headed beast of a deal?
You seem to contradict yourself.
Cygnus eTransactions Group, Inc. (previously known as Antiquescollections.com, Inc., a Colorado corporation) was originally formed by the filing of Articles of Incorporation with the Secretary of State of Colorado on July 25, 2000. Antiquescollections.com, Inc., a Nevada corporation, was formed by the filing of Articles of Incorporation in the State of Nevada on July 6, 2004. On July 26, 2004 Antiquescollections.com, Inc. (Colorado) merged with Antiquescollections.com, Inc. (Nevada) for purposes of changing domicile only. Subsequent to such merger, Antiquescollections.com, the surviving entity, filed with the Nevada Secretary of State, an amendment to its Articles of Incorporation, changing its corporate name to "Cygnus eTransactions Group, Inc", herein after referred to as the "Company" or "Cygnus".
On January 14, 2005, the Company approved the merger of Cygnus Entertainment, Inc., a Florida corporation, into Cygnus eTransactions Group, Inc. Upon completion of the merger, Cygnus eTransactions Group, Inc. owned 100% of Cygnus Entertainment, Inc. in exchange for 6,366,028 shares of restricted common stock in the Company. A 3:1 stock split was accomplished in March 2005.
I think I have an old Nevada Corp. from '97 or 8 laying around here somewhere.... Maybe I'll dig it up and I'll even make you a Director! That should get you back on the invite list. Cost you a few hundred grand, but don't worry this company's going places, very low risk!
From just the history, this company makes KTEL look like Fortune500...
It better be restricted shares for special/high-level people with a built-in discount. After all, Mr.Timmay is a hedge fund super star.
Posted on 9/21
Now at .08.
How many shares do you still have Timmay?
Penny stock scam anyone?
Another example that justifies the title "Piece of Shit". You can't deny that.
Thank you for clarifying my point--I loaned them money because I believed it to be a low risk situation. I was already invested BEFORE I loaned them money.
I disclose my personal and fund's position at the end of the book. It's nto a scam, it's a real company. Go to sixflags.com and see who's handling all their online ticketing. Not to mention they signed a partnership with NCR, a $9 billion company. Again, great technology, lousy stock.
It's so nice to look back in hindsight, right? While I was all hyped about CYGT, they signed deals with Hershey, AAA, Six Flags, Universal Studios (later lost), Cedar Fair (later lost), AOL (later lost), Harrahs (later lost) and Expedia (later lost).
My mistake was thinking that at least one of these big name deals would make it---that's the difference between a Penny Stock that rises 500% or drops 90%. Looking back, it was a mistake, but in the beginning, I had very good reasons for being invested.
"Nah man, the main lesson of my book is to stick to stocks that are in play. Don't try to go for the seemingly easy gains in Penny Stocks because there's always something hidden"
that was the smartest thing you ever said and i agree 100%. i always tell guys never to play stocks under 10 bucks. penny stocks are losing propositions and of course if you play them enough you will hit a winner but in the long run its a losers game. i played ICE today for .80 cents on 700 shares. did i get rich? no. but i have an ok paycheck for the day and hopefully tomorrow will be better, i go whereever the action is and am always searching for a catalyst.
Your biggest mistake of your life was escalating your feud with the rag magazine to the point where they disclosed your grovelling, begging emails, exposing yourself as a laughingstock and loser. "Please let me go to the party, 2 girls bought dresses and can't return 'em. Waaah!!"
I hear that Wall St. won't touch you now. Investors won't touch you now. Your gigs are also drying up quickly now. Totally reminds me of Howard Dean. Personal implosions come fast, and rarely can be reversed. But you always have your "best selling" book. Hahaha.
If anybody wants to see a real HF manager wiz kid, who kicks ass and doesn't have excuses, all you got to do is look up Harris Kupperman from Praetorian. http://www.thestreet.com/markets/marketfeatures/771116.html
He used to post on ET, but it seems he doesn't like much pub. Guess he's busy working?
Your post shows how little you understand about what I'm trying to accomplish here. Thanks to the Page Six article, I've made new contacts at FT, Reuters, Dow Jones, and the AP. Traitor monthly doesn't hold a candle to any one of these giants. Also, MSN loved it and featured my old videos over the weekend. It's been a great marketing move on my part already--as I've said, I don't care what people think of me as long as my message is heard. And these new contacts will help that message be heard.
What you call excuses, I call important lessons that nobody else ever seems willing to admit. We all make mistakes, I just detail them for your benefit.
I do understand that you're in complete denial how badly you screwed yourself. I couldn't give a rat's ass about the rag mag, i'm not choosing sides moron. But you made a horrid decision and it will cost you dearly. No one wants a grovelling beggar, especially investors and employers on Wall St. So let's see how far all these new connections get you. Funny, gone is the talk of being on Oprah's TV show. Gone is your wet dream of having a best seller. Yet you only talk about new contacts. You obviously learned nothing from your life mistakes and that's why you have failed and will continue to fail.
Be in denial all you want, you made a huge mistake and one day you'll be honest enough to admit it.
Patience Bobby, good things take time.
Well it didn't take much time to destroy your name and reputation, all of which is now in the gutter thanks to those embarrassing emails you wrote.
Hahahaha actually I annihilated my name and reputation when i finished the first few pages of my book. You see, for better or worse, I've chosen to be 100% honest and that doesn't work on Wall St. But it should serve me well as an author. If you'd read my book, you'd know this, but you seem to enjoy judging me without knowing any of the details and thats fine. You're a shining example of what's wrong in this industry.
Dude, I am not looking back. I just pulled that shit from their website today. I am saying that I would not ever--not then, not now--check into a roach motel like that. You are running OPM and you wanna invest 300 large in that deal. Fine. But stop whining about it and make the money back. It's not that much, is it?? WTF is the problem? If you are really a trader and not just some lucky media whore , then you screwed the pooch on that trade. Fess up and move on. Life is too short.
If you are having issues with your OPM, then see the above. From what I can see, your story is "It's not my fault, they did it to me." That's what no doubt has upset your peeps. People will accept a mistake, AS LONG AS YOU ACKNOWLEDGE IT. You are whining, and that makes you a little impotent boy in their mind.
I have been trading FT since 1999, and I assume you have as well. This past July and August were just like the old days. Even a mediocre trader coulda (and dida) scored 50K on several of those days. Again, wtf is the problem. I am not getting it.
Maybe you had visions of being a VC?? Best leave that to the Cali boys who can assess true risk and don't believe any fucked company that walks in the door.
And one last point. You mention six flags. Have you looked at their debt load? Hell, their shit is so close to junk I wouldn't loan them a single C note. IOW, roaches hang with roaches.
In short, you fucked up; you made a restricted deal (for whatever reasons) and now the worst has happened and you have consequences. Oh well.
Exactly and I'm not making excuses, whining about it nor am I blaming anybody else. I accept 100% responsibility. The good news is that its a hell of a story and a great lesson for all.
Frankly it's boring and not worth $20.
What will you do when you spend the 10 Grand you make from this book? You may need to get a job.
You may be proven correct, but for now, you're in the minority as about 98% of all the people who've read it love it. So, let's see how this plays out.
I don't know you and I certainly have nothing against you, though I will say that your cockiness in some random places I have seen does not reflect positively on you or your family.
So, here is my detached view of what is happening here. You are hyping a book that alludes to your trading acumen, while simultaneously giving less than 100 percent to your fund (your claim to fame) all the while transitioning to a new career as a Kramer-lite. Hmmppf.
A good friend of mine, Misha wrote like 3 or 4 reasonable books in the late 90's, early 00's and he could never trade his way out of a bag. He was never as lucky as you were, either. Have you even considered that you don't have a lock on the truth you are spreading? Or, I think it was Spock who said that truth is from one's own standpoint.
Youth is wasted on the young, as they say. Wall Street is not very tolerant. A phone call here, a phone call there, and your opportunities will vanish, if I had to bet on it. TS puts, as it were.
Your transition has unfortunately run off the road, and I think your luck has transitioned as well. Hope it was worth it.
Fuck it, Im am Famous but not Rich. I am flown all over the world to play clubs that most would only dream to enter. From IBIZA to the PLAYBOY MANSION.
However, my trading is , average at best.
Shit, I even follow Surf sometimes :>
Just busting your ball Surf ;>
Surf is correct. Every one has draw downs in the world of trading. It is the nature of the game. Some even blow out only to return twice as strong, as Surf and I know.
But, I rather be Famous than Rich. You spend less money when your Famous ;>
Eloquent, succinct, and truthful.
Good observations, but, again, like everyone else who doesn't know the details, wrong.
1. My trading is not luck, I play Penny Stocks that have very simple charts and these patterns repeatstime and again, whether my entries and exits are good or not. Take a look today SCON, CPSL, ZVUE, all my kind of plays to short when they reverse. I detail all these trades in my book so then you can judge me based on my actual trades.
2. Since these hype plays last longer than anyone thinks, it's actually good for me to not concentrate 100% on these plays because the more I look at them, the more I want to short them and I'm usually always too early.
3. Unlike every other finance book, mine is not to toot my own horn. In fact many people say I'm too hard on myself. I tried to be as painstakingly honest as possible and because of that, I knew my career on Wall Street was over the minute somebody read it.
4. My fund's losses is due entirely to CYGT. The worst part is that this loss has also sucked my ability to take on much risk and so I haven't been able to play my Penny Movers the way I once did.
5. The financial media industry is ripe for opportunity, it's funny how people look down upon me for taking advantage of this, but its just another opportunity, just like any other trade. So far my entry has been perfect, we'll see how the rest of the trade goes, but every day its looking better and better.
2 million isn't that much especially after taxes.
And how was this making history:
Landing a man the moon is example of making history, but not that.
overall, your site and presentation is lame.
stock, you are without a doubt, the biggest poser here. I for one am completely and utterly tired of your bullshit... You are without any question what soever the biggest piker here. You said you "made tens of thousands " on EWZ (?) I call you out right here right now......yey GOOG and AAPL make new highs (do you participate?) doubtful...I will lay 25K on the line that you have ZERO at risk..You are the spokesperson of NOTHING. deal with that
Attention good people of ET: Please only converse with Tim on the above link, where the poll results of his months of spamming are widely available.
Ever since Tim was bitch slapped, he has been able to change the thread where the conversation about him is to this one. He desperately runs from the truth of the ET poll. He should not be allowed to get away with that. Just as he deletes poor book reviews, he tried to bury the thread that contains people opinions. Don't let this spammer get away with it! Only converse with Timmay on the thread that has his book poll!
While I agree that you must have had 100s of successful trades, why do you think your story is so interesting to others?
After all how many people with much more money at stake were blown out by "just one bad trade" after having stellar returns for years. You might think your juvenile personality adds flavor, it doesn't do much for me though. I think your story - at least the part you tell here on the board to water my mouth - is a dime a dozen. I am not in the least interested to know more about you, how you made money shorting penny stocks and then blew up buying restricted shares of some nobody firm.
As Tim was bitch slapped last week, don't allow Tim Sykes to bitch slap ET back by having the headline "Sykes article in Fiancial Times" run axross ET every minute. If Tim wants to continue pimping on ET, it should be in the thread which has 300+ respondents to the question "will you buy timmay's book?"
Tim deletes poor reviews but says he's honest. Fine, let him stand up for himself in his book thread.
So don't read it, I wrote this book for people who are interested in me and my juvenile personality. And judging by the daily stream of emails I get, there's quite a few.
I have no problem with negative reviews, just ones that are factually inaccurate. ET, like Amazon has 100% control, but if you post something that I can directly contradict with passages from my book, you're damn right these websites are gonna take them down and see that I have some haters who just want to spite me without taking the time to learn the details.
So 33% of readers will buy his book... thats so much more than expected!
5. "The financial media industry is ripe for opportunity, it's funny how people look down upon me for taking advantage of this, but its just another opportunity, just like any other trade. So far my entry has been perfect, we'll see how the rest of the trade goes, but every day its looking better and better"
Your entry has been perfect? Whata re you smoking?
You went on Cavuto and he basically said you were late to the HF game...and didnt mention your book at all.
You went on CNN and got owned by Rabbi Schumley. He made you look horrible and you had zero comeback.
You got trashed by Trader Monthly .
You get an embarassing headlinge on Page Six.
bullz n bear vs timmmmmay who is the bigger putz?
Once you've voted there vote here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=105009
I dunno there, Tim Boy. I suspect that most traders want to read about successful people. Your (very dubious IMHO) comparison in your book ad copy to Livermore and Darvas, doesn't ring true at the outset. At that point in his life Livermore had several wipeouts, but he came back to millions. And Darvas did great, trading by telegram (yeah, could have been luck but still interesting book).
And who would have bought "Pit Bull" if Buzzy had gone bankrupt from bad trades? Sure, we can sometimes learn more from mistakes, but I don't think it should be a big selling point.
But I'll give ya one kudo, you sure can take a punch! Haven't seen anybody else still on ET after taking that amount of abuse.
Good trading and good luck!
You are young enough to tour the Catskills.
Thanks for the solid post. Others have said my book is the modern-day Reminscences and How I Made $2 million, and while I was definitely going for that, I also want my story to be unique. It's sad that we feel that we have to have 30 year careers, make tens of millions, or never make any mistakes (or lat least admit to them), before our story is worthy of telling.
I think we should all be open to telling our stories, think about the possibilities f everyone were honest and shared their experiences. Learning would accelerate exponentially and while some books would obviously fail, if their authors were honest in them, their lessons would continue to help people.
But thanks to the closed-mindedness of people on Et and everywhere else, this will never happen. So, for now, all I've got is my honesty and hopefully I can inspire a few more people to share their experiences too
Nope that's in this book
Honest Timmay, our hero
This would ring a lot more true if you didn't seem to try and make yourself the center of a lot of attention. So far, you are seeming to be an antonym for "humility"
Maybe ET should have a separate forum for that more can share their inspirational experience?
"How I made a couple hundred K over 400 trades and then blew up on a single trade!!!!". Sounds awesome! Very inspirational!
Yeah, kinda a cockiness with warts. It's starting to grow on me. I can't help it. I like Oscar too... Damn.
ER2 needs a new high cuz momma needs a new bag..
Thar she blows; man I love this job. Momma's gonna get that new bag.
You're a noob. You're book would make a good door stop, paper weight or toilet paper.
> From: Tim Sykes
> Date: Tuesday, September 18, 2007 1:01 PM
> To: Randall Lane
> Subject: Re: Re: Sykes 30 under 30 Party
Thank you for your honesty, but I wish you had read the book I sent you guys. you would discover that ALL MY LOSSES have been caused not by trading, but because I entered into an illiquid stock that I have not been able to sell. I am unable to raise any money, unable to take any trading risk so all I can do is take advantage of my publicity efforts and turn that into my new career. I am a trader in the truest sense in that I am willing to trade professions to adapt to my environment. I wish you had taken the time to understand the specifics before drawing faulty conclusions.
I dont want to get into a fight with you Tim, but this is pretty weak. All you said is that A) I did what every other meatball who blows out did and I turned a trade into an investment, now I'm stuck. Nothing revolutionary there, most of us have done it at some point in our careers, myself included. But the last point, the I am a trader in the truest sense in that I am willing to trade professions to adapt to my environment., what the heck does that have to do with the markets or trading? To me that just really sounds like a cop out. I do respect that you have at least managed to find something else to do with yourself, that your not laying around feeling sorry for yourself and not doing anything like a lot of people do after a blowout, it does speak to your work ethic..but I do think that if you spent the time on your trading that your now spending on being famous you could probably raise money again. btw, I liked your book.
Just in case you didn't see my response on the other board:
Good post, let's see, what is trading all about? Profiting from market opportunities, correct? How is taking advantage of the fact that the general public knows so little about hedge funds and financial speculation anything different? Why must a trader only limit himself to profiting from stock trades, why can't he go out and profit from an information trade?
You guys have no idea how many horrifically stupid questions I get--what kind of person would I be to ignore them and not tell them my story so they could avoid the pitfalls and see what to look for
I did see it, and like I said I dont have a problem with you and I enjoyed your book, I just found that to be a rather weak response on your part.
I don't get the idea that you are doing this just to help others, but rather mostly to make some bucks and get some publicity. You don't seem to grasp how you come across.
Right now it is all about publicity so everyone can see the message contained in my book. I'm sure I come across pretty badly sometimes, but this book is my baby so I'll do whatever it takes to get people to read it. And in return I definitely expect to make some money off it.
But let me be very clear here, it's message before money as some of the stuff I do to get my message across will definitely hurt me in the money category.
You are The new Milli Vanilli, I hope you break even and nothing more scumbag.
you're wrong there, I'm not faking anything, I do all my own trading.