Timothy Sykes is a controversial penny stock day trader and entrepreneur with a net worth of $20 million, as estimated by Forbes. The 38-year-old is an outspoken character well-known within the investing community for turning $12,000 into $4.7 million through trading risky penny stocks. His unique story and entertaining personality led to him getting featured on Wall Street Warriors, a reality TV Series featuring up and coming traders on Wall Street. During the filming Sykes was fresh out of college, running a micro-cap hedge fund from his New York apartment. The show was a cult hit and the publicity served as a huge launching pad for Tim’s education business. After the show aired, he received hundreds of emails from people wanting to learn how to trade penny stocks. Flash forward to 2018, Tim now has thousands of students around the globe and helped create four millionaire students.
Tim Sykes has proven himself to be quite the entrepreneur with multiple ventures to earn extra income.
Book – An American Hedge Fund
To capitalize on the hype after Wall Street Warriors, Sykes self-published a book detailing his journey to penny stock millionaire and the failure of his hedge fund. The book is an interesting read but doesn’t discuss in detail strategies or chart patterns he followed to make consistent profits. In the book, Sykes reveals his hatred for the hedge fund industry and the mistakes he made along the way. Currently, the book is available to buy in paperback from Amazon for $20 but can be downloaded for free in PDF from his website. I would estimate he made at least $200,000 in book sales and it also helps drive paying customers to his DVD store.
Tim Sykes started his blog back in 2007 before blogging became popular. He initially created TimothySykes.com just as a way to promote his new book but soon realized the profit potential of selling online trading education was far greater. The website became an instant hit attracting over 100,000 visitors per month, becoming the number one penny stock blog. Since then website traffic and income have continued to grow, going from $60,000 to $1,000,000 per month in 2018. His educational empire is comprised of DVD’s and a membership service that offer real-time alerts & video lessons. As Timothy Sykes has verified millions in profits, thousands of aspiring traders purchased DVD’s and joined the alert service. Right now, there two different monthly options – Penny Stocking Silver ($149.95) and Tim Alerts ($74.95). 1,000 students paying $150 each month is nice residual income. Tim also runs a Millionaire Challenge program where those serious about learning pay a cool $5,000.
In addition to selling products, affiliate marketing is another avenue for Sykes to earn. He used to make money with affiliate marketing, promoting various brokerages such as Etrade and Interactive Brokers. These brokers no longer have affiliate programs but still promotes them without receiving compensation.
Investimonials.com is another venture set up in 2011, the website provides financial reviews of brokers, chat rooms, software and newsletters. It covers everything related to finance and aims to cut through all the bullshit on Wall Street. Users sign up and write honest reviews of financial services they bought. Since anyone can sign up and contribute reviews, the site monitors the content to ensure opinions are honest. The problem is there’s no way to verify the reviews are 100% real. Investimonials is a massive success for Tim and a great platform to sell advertising and drive more traffic back to his website.
Profit.ly is a social trading community that serves as a platform to connect visitors to guru’s products and verify trading performance. The community has approximately 130,000 members that interact, share their track records and post blogs. The idea for Profitly came after Covestor removed Sykes from their service because he trades volatile penny stocks so members couldn’t replicate the same trades. He was obviously pissed off and decided to create his own Covestor for penny stocks. Currently, Profit.ly has two other Guru’s – Triforce and Super Trades. Both use different strategies but teach using the same methods, via alerts and webinars. The site has a leaderboard to track the best traders within the community. As of right now, the top traders are Gregg Sciabica (Lx21), Steven Dux, Tim Grittani (Kroyrunner), Michael Goode, Superman and Matthew Owens. It’s interesting to note out of the six people I mentioned, 4 of them were students of Timothy Sykes. The whole point of the site is for beginners to study the track record of the most talented traders and study their strategy.
Stockstotrade is a stock screening and charting tool developed to find new penny stock trade opportunities. Tim has invested hundreds of thousands by hiring a team of programmers to create the software. According to Linkedin, they have 11 full-time employees working on the tool. They are continually developing the platform and adding new features every week so one day it will overtake Trade-Ideas.com. Like all the top scanning websites it is expensive. Currently, there are two payment options, $179.95 per month or $1799.50 annually. Luckily they have a 7 day trial for $1, so you can try the tool before committing to a paid account. Stockstotrade.com is still a start-up with high costs, so I doubt the company is making any worthwhile profits.
With a personal worth over $20 million, he can afford to live in a mansion and race around in a Lamborghini. Below is a video of a gigantic mansion he rented for a year in Miami.
Sykes is an avid traveller and has explored 100 plus countries. His Instagram account displays all the exotic locations to inspire his 1,000,000 followers, all jealous of his ludicrous lifestyle. He could make a lot more money sitting in an office in front of 3 monitors but prefers to spend it in luxury resorts such as Bali, Greece or the Maldives.
Despite the amount of time he spends flaunting his wealth on Instagram, Sykes set up a charity foundation to donate several million to worthwhile causes like Make-A-Wish and The Boys & Girls Club. Also, all the proceeds from his “How to Make Millions” DVD go towards charity.
Timothy Sykes is a talented day trader and entrepreneur who has built an online empire that has made him a multi-millionaire. Making millions every month means he can afford to live a lifestyle everyone dreams of. Love him or hate him, Tim is an entertaining person that makes trading less boring. There are dozens of stock market mentors online that sell education but very few have the capability to make finance interesting. I would guess 25% of his fortune was earned through day trading while the rest was accumulated through selling educational products.