Get ready kids, this is gonna be wild! http://timothysykes.com/index.php/w...-sykes-sets-up-new-transparent-challenge.html New York, NY (PRWEB) November 1, 2007 -- Not everyone wants Timothy Sykes to come to parties right now, ever since his hedge fund lost a third of its value last year before closing on October 1, 2007. Timothy Sykes knows it, too. That is why this NYC-based entrepreneur is intent on showing people he can still successfully stock trade while teaching everyone along the way. I am going to describe everything I do on my website http://www.timothysykes.com I will not give out stock pick recommendations ahead of time, instead, I will show everyone exactly what I am doing so that they can watch and interact with me while learning my strategies. Whether or not you know anything about the stock market, leave everything up to your financial planner or actively day trade, you have to take note of the fact that Timothy Sykes has chutzpah. He originally became known for having taken $12,415 of gift money he received for his Bar Mitzvah and turned it into a $1.65 million fortune in a few years of highly frenetic stock trading. He went on to create a hedge fund which was a top ranked fund for several years, but was hit by tremendous losses last year. His story hit the gossip columns and he became a whipping boy for several media who took him to task for his failures and attributed it to his youth and impetuousness. He acknowledges that his losses were in part due to overconfidence, but he is convinced these losses have made him wiser. Not only does he intend to make back his fortune, he also believes he can help others learn to do the same. What he plans to do is start all over again and repeat his original feat. He will begin with the same $12,415 and trade openly till he makes a cool $1.65 million dollars for a second time. "I believe that everyone should learn stock trading, but people need to understand the markets better instead of being fed thousands of random stock picks," he said. "The goal is to help everyone learn about financial speculation by laying it all out there and breaking it down to the basics." "I am calling this challenge 'TIM', short for Transparent Investment Management, but I am not taking on any investors. None. Zero investors. This is all about me teaching people through my personal stock trading." "I am going to describe everything I do on my website TimothySykes.com I will not give out stock pick recommendations ahead of time, instead, I will show everyone exactly what I am doing so that they can watch and interact with me while learning my strategies." "The key is that I will hold nothing back. My every move will be open to public scrutiny. I will be using a regular discount online brokerage account to prove that anybody can do it. Perhaps most importantly, I will be expressing myself and making fun of myself and showing people see how fun stock trading can be." Timothy is quick to offer up his top ten trading lessons learned. Here they are: 1. No matter how much money you make in the stock market, be humble or else it will be the market that humbles you. 2. Do not limit yourself to only one investment strategy, learn as many strategies as possible so when the market changes, as it inevitably will, you can change with it. 3. No matter how sure I am about a position, I have learned to limit my position size so no matter what happens, I stay in the game and live to play another day. 4. All my greatest losses have come by my trying to force opportunities when none existed. Do not force opportunities, let them come to you. 5. There is no salary in financial speculation, so do not expect consistent profits. Do not be afraid to take days or even weeks off when there is nothing to play. 6. Do your research, generate your thesis and take your positions, do not cry if you are wrong, just exit, learn, revise and move on. 7. Stock trading is like surgery--this is not a simple game so you must study all the subtleties of the markets before operating--or else your patient (your account) will die. 8. There are a lot of idiots on Wall Street and many companies will fail--you can profit from this, it is called short selling. 9. I have made 130 times my money within a few years by being right about 65% of the time, the key is cutting losses quickly. 10. I have made thousands of bone-headed mistakes, but have only used leverage once and will never do so again. After all, all the greatest blow ups involve leverage so why bother risking disaster? One thing is for certain. We will be hearing more from Timothy Sykes. You can follow his story and day to day activities at his web site TimothySykes.com Timothy Sykes appears on the TV show, Wall Street Warriors, a hit reality show which has aired over 900 times now in the past year on MOJO, a hi-def TV network. He is also author of the book An American Hedge Fund. An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund by Timothy Sykes List: $19.95 BullShip Press Softcover, 6 x 9, 235 pages ISBN13: 978-0-9795497-0-0 ISBN10: 0979549701
Great concept Tim. I'm sure you'll get your mojo back, and build your trading enterprise business along the route, for good measure. This is America folks, it's all about creative capitalism to achieve your life goals. This is your chance to prove all the haters wrong, and I hope you do. Good trading, JJ
Great Job TIM.. This is great news. I'll be following you along because let's just say I wouldn't mind seeing how a pro does it.
Thanx guys and to top this all off, the stock that ruined me CYGT, just announced a new CEO--former head of ticketing for Six Flags!!!!! Today's a good day! http://biz.yahoo.com/iw/071101/0322905.html
Congrats Timmay......does this mean he might hire you to work the cotton candy booth@ Great Adventure? I wish you all the best in your new career. your friend, el surdo
12k to 1.8 mil or so? Again? .....too funny...I hope you have built a time machine to go back to 1998. Funny...Timmay blows up...basically blows all his investors money screwing up. Now he has learned from his mistakes and is gonna become rich with his own money leaving his former investors out in the cold. Real admirable there Tim. The best is you whined about how you couldnt trade...didnt have the discipline.....too emotional. now you are magically cured of all this and ready to take on the trading world again.
It's not gonna be easy, but I'm gonna work my ass--I can still trade, never been a great trader, but decent. You gotta remember that it was only CYGT that killed me. Kinda ironic that they get a bigtime CEO today, too.
10 years?! Why don't you start with 120,000 and turn it into 20,000,000. I mean, ten years is a long time you should actually try to make some decent coin out of it. (Assuming you have 120k)