Not really sure it's that big of a deal, I have a small involvement in trading community and have personally met two people with similar stories. Made a ton during 99-01 lived on a beach in miami, etc saw the pictures so i think they are telling the truth.( i met them 3 years ago) They lost it all when the market collapsed. So its only luck that someone got out at the high and kept it, not sure about this timmy fellow you talking about past track record (since 01). Maybe he would care to post statements here to validate whatever claims his making. Just my 2 cents to help the uniformed and the newbies.
I agree that his story may be dangerous to the uneducated. I just think he at least deserves a shred of respect around here. I would love to know how many of the people that bash him on here accomplished anything even remotely close to what he did. I don't know, I guess that's just the nature of an anonymous online forum. Everyone is a genius but everyone else is an idiot.
So much BS posted about Sykes, Cramer or whoever that it just makes me sick. I hate defending these people because I don't like their personalities but I can't stand people opening their mouth before knowing what the shot is. Sykes made his money (before losing it) SHORTING stocks. How on earth could he gotten out "at the high" before 2001? 2001 and 2002 must have been great years for him, he speculated AGAINST stocks, he did not BUY stocks. How hard is this to understand? Every 3rd Sykes post is always "The guy got just lucky buying tech stocks but held on too long and got burned in the bear market". This is completely untrue and comparing Sykes to some momentum buy and hold guys in 1998/1999/2000 who blew up the downturn is very far from reality. At least let's get the facts straight for Christ's sake. Repeat: Sykes made his money (before losing it) SHORTING stocks. He compounded hundreds or thousands of little tiny 1, 2, 3% gains over several years. HOW ON EARTH IS THIS LUCK???????????????? PLEASE EXPLAIN YOU GENIUSES????
Not sure, don't really follow this timmy guy you speak of, is he some big shot trader guy i should know more about? If thats true that he made it shorting in the 99-01 period then kudos to him.
I thought it was pretty obvious this thread was about Tim Sykes??? Why comment on somebody you know nothing about?
Yes...is hysterical.....especially from a guy who claimed only a year or so ago that making 50k day is boring. He went on to say that an up million dollar day would excite him. When its all said and done he is beyond full of shit. The guy has a peanut sized strategy that will NEVER enable him to make any kind of real money. He has failed at everything he has blabbed about on here and left with his tail between his legs. Go look up and see how his book is selling...HUGE failure. Apparently marketsurfer was wrong when he claimed it would be a best selling piece of financial history.
What is your source, have you seen his audited records. I find him living proof of survivor bias or infinite monkey theorem. How many guys who blew up in "87 were better traders than those who were able to remain solvent. The thing with him blew up here but he asked for it. I can say I learned o about trading from him; he would not answer a simple question.
Did Sykes say in all seriousness he made 50k a day? And found this boring? Is he still shorting microcaps based on his super indicator, the news? This person is two much. He should become a Tony Robbins type but his subject can be BULLSHIT! My main problems with Sykes are he is making an entire generation of young people and newbies into his book thumping morons. Also, the way he conducts himself; he signed up for the show, he wrote the book, he makes moronic quotes like the one about 50k a day. then his followers blindly follow him and believe he is some genius. All of the negativity that comes his way is his fault, he signed up for it, however I do not think the old adage "any publlicity is good publicity" applies to him because he is selling a product on making money his way (the problem is he no longer makes money)