Is Tim Sykes a Scam Artist

Free Beginner Day Trading Series Investors UndergroundI received a negative and uninformed comment on this blog post. I could have deleted it but I decided to address it for several reasons that I will share with you below. In short I want this to be an open and honest forum for questions about the Tim Sykes’ Millionaire Challenge and not a slice of perfection blog. Here is what the comment said and my response.

“Jai is obviously one of Tim Sykes business partners/affiliates. Purely on this thread to market Tim Sykes scam challenge. Can’t believe people are too stupid to see this…” 

“I am in no way affiliated with Tim Sykes nor do I receive any business or affiliate compensation for anything that I write on this blog. However, there aren’t too many people that will read this entire thread which means they will miss your lack of research and my response to it. So, I will do a blog post addressing your accusations of Tim scamming his students and me profiting from it.”

There are 3 accusations to this comment. The first accusation is that I am affiliated with Tim Sykes and receive affiliate money. The second is that Tim Sykes is a scam and the third is that you (the readers) are too stupid to see that I am lying to you (the readers). Because this person was the  91st comment on the blog post I thought most people won’t get a chance to read it so I chose to comment more in depth to clear up the lies. Before I address the Tim Sykes scam challenge accusation let me address the other 2 accusations first.

Am I Affiliated/Partner Of Tim Sykes

This is a really ignorant comment. Don’t get me wrong I am not trying to be mean for the sake of being mean because I accept all comments. The comment is just dumb. I began the challenge on January 27 2014 and have just started to get my feet off of the ground with his techniques. I have studied my ass off watching videos, DVDs, webinars, reading, charting, preparing watchlists and asking questions. In essence I am still a newbie. So, to be clear I am not an affiliate of the Tim Sykes Millionaire Challenge. I do not receive money from Tim nor anyone affiliated with Tim. I haven’t applied to be an affiliate either and as of today I don’t plan to. Let me go a step further. Tim Sykes if you are reading this please don’t let me become an affiliate until I can prove to you and myself that I am successful with your teachings. I hope that clears that up.

 

Are You (The Readers) Stupid For Believing Me?

I think it’s fair to say that I have been honest and open from the beginning with everyone who comments on this blog. I have answered them quickly,  thoughtfully and with honesty. You would be foolish not to believe me but you would be even more foolish if you just believed me and didn’t do more research. That is right… Research everything you can about trading and Tim Sykes. Google/Bing/Yahoo everything you can about him. Ask questions, talk to other bloggers and find out the good the bad and the ugly or else you might feel stupid for not doing so.

Is Tim Sykes A Scam Artist? 

Had the person who placed the negative comment on my blog asked me if Tim was a scam artist I would have spent the time to respond. I would have thought that was a very good question. It’s normal to think like that and that is the type of research people need to do. However, he made a bold faced accusation which assumes he knows something I don’t after I spent hours upon hours upon hours researching all I could about Tim Sykes.

You don’t believe me! Here are 3 blog posts you can read that will give you a glimpse of the type of research I did before I joined the challenge.

Tracey Coenen wrote this and this.

Michael Goode wrote this and Tim Sykes responded every step of the way.

Tim Bohen talks about Tim Sykes here.

Now, it’s obvious from my profit.ly chart that I haven’t traded much but in the few months that I have been training I have learned more about trading and the stock market than all the years I have been dabbling in them. The education I have been getting has changed me forever. I know for a fact that I will never blindly lose money in the stock market again. That is right I will never trade another stock BLINDLY and if I am wrong on a trade I will cut my loses quickly so I never suffer an account blow up.

Ok let me break it down to you like this. In case you weren’t aware I have made money in the stock market before but I have lost too. However, back then I never knew why I won some and why I lost some. I remember years ago I traded DoubleClick and made $20,000 in 1 day and lost $10,000 the next. I just blindly bought and sold and never really knew what I was doing. I didn’t really care because money was coming in but there was one big loss that ultimately changed my life forever.

I bought shares of ETRADE Etradein 2008. Take a look at the chart. Without even knowing a thing about trading you can see exactly what happened. After ETRADE tanked I held it for 5 years. FIVE YEARS! I even stopped trading because I felt defeated, stupid and ultimately poor. At that point I decided that I was going to leave my positions as they were and closed up the idea of making money in the stock market. In essence, I was known as a bag holder. According to Investopdeia a bag holder is an informal investment term used to describe an investor who holds a position in a stock which decreases in value until it is worthless. ” 

Then one day in 2012 I decided to start learning and studying to be a smart trader because the economy was getting stronger. Luckily for me ignorance was bliss as most of my account had either come back or was up because, remember, I was bag holder on every position I had. However, ETRADE was still down BIG. I finally cut losses on ETRADE in December 2013  and that is when I swore to myself that that type of loss would never happen again and it won’t thanks to Tim Sykes and his teachings.

So, is Tim Sykes a scam artist? After 4 months of being a part of the millionaire challenge I have seen Tim help, confess, enlighten, educate, brag, indulge, spend, yell, congratulate, warn, expose, joke, market, care, alert, lose big, and win BIGGER but I have never seen him scam.

Tim Sykes is not a scam artist.

Do your research, ask me questions but please don’t write ignorant accusations that don’t help people learn the truth!

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Disclosure:

Some of the links in this post are from my sponsors. I thought you should know because honesty is better then sugarcoated bullsh*t.

Important Resources

  • Read my frequently asked questions or if you need personal 1 on 1 guidance from me on how to fully prepare as well as protect yourself from the misrepresentation please click here.
  • Every month I update this post here for my personal "Millionaire Challenge". I suggest you read the entire post and when you reach the bottom you can see my updated progress.
  • I highly recommend the Simple Path to Wealth book to grow Your wealth simply and steadily. It will educate you beyond your financial imagination. This is my review of the book.
  • If you are new to stock trading test your knowledge here with a basic stock market quiz.
  • There are a lot of secrets in trading stocks and I reveal 20 of them in this popular post.
  • If you are confused about short selling stocks then read this simple explanation that will clear it all up.
  • This free stock research tool will give you all the necessary information on any stock you type into the search bar.
  • Do your best to avoid day trading distractions. Especially the 10 I list here.
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