As I wrote about the other day reviewing some recent press I’ve gotten, About.com did a nice little feature on me:
July 29, 2011: About.com Profile: Tim Sykes Got His Business Noticed with a Compelling Personal Narrative
The author likes my marketing and story, but basically asks why I would teach if I really knew the secret to getting rich?
I’ve been teaching now nearly 4 years and because most of the other trading gurus are absolute frauds and charlatans, I’m more than a little used to this question and if more people actually went out on a limb and trusted this self-mde millionaire a bit more, they’d find that my study guides in no way shape or form attempt to claim that I know the secret to getting rich…I’m just a consistently profitable trader who’s usually earned between $200,000 and $700,000 annually and there’s a lot to be learned from that.
Download a PDF version of this post.
Here’s why I teach:
2. Thanks to the popularity of #1, I began getting 100, 200 sometimes 300 emails/day form people wanting to learn from me…emails which I had to turn away as a hedge fund manager…I adapted to the demand by closing my hedge fund and creating my publishing company…now I get 2,000+ emails/day and I love it!
3. Being a secretive hedge fund manager who takes a small cut from the profits of a few very rich people is not my end goal in life…nor should it be anybody’s, I greatly prefer helping the poorest, dumbest, most incompetent people not be themselves as often (aka molding them into becoming wise, meticulous and self-sufficient people)
4. I have a big mouth, I like to hear myself talk and it feels good to do good in the world…all I have to be is 100% honest about what I do right and wrong, a task I think I’ve accomplished quite well.
5. Out of my 2,000+ daily emails, roughly 10-20 of them are from people who have lost big on the same stocks I’ve banked on…I need to get to them sooner to help them avoid this sad fate.
6. Before Profitly and Investimonials and projects like THIS, transparency in online finance didn’t exist…this is a long battle and I’ve only just begun.
7. Trading is a lonely, unfulfilling (other than monetary rewards) profession…teaching is the exact opposite and thanks to my superior business model, it’s not only very gratifying, I’ve also become one of the highest paid teachers in the world.
8. Unlike others who claim big gains in penny stocks, I can actually prove it and more importantly, my success is replicable and achievable since I’m not even a great trader!
9. My success as a teach/mentor will hopefully inspire a few other profitable traders to take up my lead and I’ll have started to get the ball rolling on something that’s never happened before in this industry: real traders teaching trading.
10. For all my success, hard work and experience, my strategy is not scalable aka I cannot manage hundreds of millions of dollars…it is an ideal strategy for people with less than $1 million, people who account for the majority of my 4 newsletters.