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Correcting 4 BS Penny Stock Lies

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Written by Timothy Sykes
Updated 3/8/2023 4 min read

Over the last decade, my program has averaged three new millionaire students a year.  

My first millionaire student was Michael Goode. And the funny thing about it is he thought I was a scammer before joining my mentorship program. 

In fact, he wrote a scathing blog about me in 2008 titled Timothy Sykes is full of bullship…

A year later, after working with me…he changed his tune and had this to say:

“When I first came across Tim Sykes over a year ago, I was skeptical. One year later, after $77,775.01 in profits using his trading strategies, I have turned from Sykes’ greatest critic to his most ardent fan.” – Michael Goode

But despite all my achievements as a trader, mentor, and philanthropist, I still get replies from doubters and haters.

And today, I’d like to share one of those messages.

Here it is:

Sykes lucked out in college trading otc, then used the pump-and-dump scams to get rich. Now he reports those very scams to the SEC. 

He’s charging ignorant people for simple training they can find on the internet for free…

Oh, snap!

Of course, I wouldn’t let them get off the hook that easily…

“Sykes Lucked Out In College Trading OTC”

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It’s true. I became a millionaire by the age of 22. And while I joke about being a semi-retired trader, I’m still active in the market. In fact, I had some of my best years in 2020 and 2021, making $1.19 million and $1.076 million, respectively.

And while most traders got their teeth kicked in 2022, the worst market decline since 2008…I managed to MAKE $130,000 in profits.

I’ve been trading for a LONG time…the iPhone wasn’t even around when I first started trading.

Most old-school traders never adapted to technological changes, yet I’ve continued refining my trading strategies and process.

Does this look like an equity curve of a trader who got lucky once?

“Sykes Used Pump-and-Dump Scams To Get Rich”

I’ve NEVER been involved in a pump-and-dump. In fact, I tell my students to expect the worst from these OTC companies. Most of the people who run these OTC companies are unethical. The reason why I trade them is that they follow predictable patterns. 

I teach my students how to ride the momentum and never to believe the trash.

“Sykes reports those very scams to the SEC.”

Over the years, I have transitioned from a short-seller to primarily a long-only trader. I don’t try to expose pumps anymore. I’ve received far too many death threats over the years. And if you know anything about me now, it’s that I try to spread positivity.

My charitable foundation has donated over $7 million dollars to 85 charities. My purpose is to make our world a better place.

“Sykes is charging ignorant people for simple training they can find on the internet for free.”

First off, I donate ALL trading profits to charity to focus on my students. I don’t know any other mentor online who has helped 32 people become millionaire traders.

I’m a far BETTER teacher than I am a trader. Unlike most mentors online, I don’t teach my students to follow me blindly.

I teach my students an entire process.

Many of my students have created their own trading styles after joining my program.  

And I have two students who have surpassed me. Tim Grittani and Jack Kellogg have both made 8-figures in trading profits.

In addition, the number of millionaire students I have is rising rapidly. That’s because I’ve gotten better as a teacher.

Also, it shows how my lessons are unique…and not found ANYWHERE else.

To The Reply Guy

I thank you for your lies and ignorance. Your comments exemplify why my teachings are so useful.

And if you’re ready for me to show you how I can help…click here to get started. 

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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”