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How did Timothy Sykes manage to turn about $12k into $2M in 4 years from age 18-22 trading penny stocks?

Monday, June 28th, 2010

I am just curious as to how he did it, and how you go about short-selling penny stocks as he did to do this, i.e. what broker did he use to do it?

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5 Responses to “How did Timothy Sykes manage to turn about $12k into $2M in 4 years from age 18-22 trading penny stocks?”

  1. David B says:
    June 29, 2010 at 12:20 am

    Leverage and general ramping of internet stocks. Its was a different game back then. You only needed a website to be valued at $50m

  2. frozen555 says:
    June 29, 2010 at 12:26 am

    I don’t know how Timothy Sykes did it, but I have read about John Templeton (1912-2008) who was a famous investor and money manager. When he was young, he borrowed some money and decided to invest $100 in a bunch of penny stocks. Some people told him that this is a very bad idea, and he shouldn’t do it. It’s too risky, but he did it anyway, because he knew the time was right. Some of his penny stocks, did go down and disappeared, and he lost some money. But some of his penny stocks went up 1000% or more, and they made up the losses. In fact, he made a nice profit. He noted that if he hadn’t sold his good stocks, they would have made him even more money. But his original plan was to invest $100 in a bunch of penny stocks and wait and then get out. This is what he did, and he was successful. This didn’t turn him into an instant millionaire, but it was a good start.

  3. Tim says:
    June 29, 2010 at 1:02 am

    Thanks for asking—since I get this question just about every day, I wrote a book detailing EXACTLY how I did it:

    http://www.timothysykes.com/book

    There was no leverage or big time internet stocks involved, it comes down to identifying and buying breakouts in hot penny stocks as their upswings usually last several days, especially when hyped by stock promoters…lots of small gains add up over time…I use the same strategy nowadays, but mostly shorting the same kinds of run-ups and have turned $12k into $116k in 2 years, detailing every trade along the way on http://www.timothysykes.com

    Never listen to others who pretend to know my strategy…since I am now shorting stock promotion, many promoters try to discredit me (its tough since I’m brutally honest with nearly 2,000 happy customers while they are unethical stock pumpers whose customers often go broke listening to their misinformation)

  4. coop5656 says:
    June 29, 2010 at 1:34 am

    Just wanted to chime in for Tim. He does answer the question in his book, and I’m a big fan of the book. You won’t learn much about how exactly to trade stocks in his book, but the book is a really great read, a great story.

    He does however teach his methods on timothysykes.com and I’m one of his happy customers.

    Thanks Tim.

  5. Po Boy says:
    June 29, 2010 at 1:46 am

    He watches for the pos pumpers to pump a stock and he used to then find those pumped stocks and buy in at the start of their pumping and sell out into strength on the way up. This will leave money onthe table so to speak but it is better to sell out leaving some on the table than it is to keep holding with the pipe dream that the pumped stock will actually retain those new highs. Now days though he still rides them up and sells into strength but also shorts them when they are bid up by those same pumpers. If you don’t understand the terminology, go to investopia or someplace like it that will fill you in on that stuff.

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