We don’t know much about Timothy Sykes, because we just don’t happen to be his biggest fans, but we have done our research and it does appear that he is a very successful trader who trades penny stocks.
Penny stocks are not exactly the best trading instrument, usually and perhaps for good reasons dismissed as only for suckers. They can be quite risky, but then again trading futures or currencies can be very risky too, perhaps even more so if you consider the leverage involved.
Not only does Timothy Sykes appear to be a successful trader who made his first million in stocks while still being a college kid starting with about 10 grand, but he has been able to parlay this success into an educational business venture of some renown.
He also claims that 4 (as of 2015) out of the thousands of his students have made a million dollars or more using his trading methods. Each of them, not combined, to be precise.
We estimate that he has had fewer than 10,000 students so far, perhaps even fewer than 5,000.
While he may be lying about it, he is most likely not, and for the purpose of this article, which is only trying to make some point, we assume he is telling the truth. We have not verified this assumption, but it does not seem to be particularly outlandish.
Out of thousands of people, some are bound to become extraordinarily successful unless they use poor trading methods, but that’s not the case here (see the next paragraph). This is to be expected if only due to the effect of fluctuations in a large sample; it would be stranger if no one repeated his success. Of course, that does not imply that most of his students will be so successful and it is probably fair to say that the majority of them are not successful at all. In fact, most people never succeed at anything enough to become wealthy.
Here’s a review of Timothy Sykes’ trading system by one of his former critics who has found his system helpful and has done very well using it.
Timothy Sykes seems to be a generous man who often gives to charities or gives money to those in need. While we are not particularly impressed by those who brag about being generous and even less so if they use that for marketing purposes, we note it for the sake of making a point in what follows. But, to be fair, he seems to be making a real difference in the lives of other people and not merely excelling at “charity marketing” that has become quite popular among trading BS artists, and which we find pretty offensive.
Timothy Sykes’ marketing methods, his appeals to expensive fancy cars, in particular, are not much to our liking, if only because they have the bad reputation of being associated with get-quick-rich schemes. However, there is nothing fraudulent about it if you actually own one of such cars thanks to your trading profits, and it is only fair to say that is the case with Timothy Sykes.
You can learn more about Timothy Sykes from this video showing his interview with Larry King, a popular US media personality, where he mentions his 4 millionaires.
Big Mike (Michael Boulter in real life currently hiding in Ecuador while pretending to be in Chicago, IL) is the founder of futures.io (previously Big Mike Trading forum), which pretends to be a trading forum, while actually is a mafia type of vendor enterprise.
Unlike Timothy Sykes, Michael Boulter is a pitiful trading loser who blew two of his trading accounts. His charity “work” is very questionable as it often boils down to mooching money off of his forum members to fund his pet projects. Yet he likes to brag about it and uses it for marketing purposes too, just like Timothy Sykes, except that he has very little to show for it just as he has nothing to show for being a trader.
Big Mike claims that his forum has over 85,000 members, tens of thousands more than Timothy Sykes has had students so far. He also claims it to be the best trading community on the planet. We kid you not (see our previous posts)!
Michael Boulter, in our opinion, is the most transparent fraud with a considerable following in the trading marketplace, which makes him rather dangerous, and not only because he is a vendor who peddles silly indicators often of dubious origin or value. That actually pales in comparison to being accused of extortion (see our previous posts)!
Timothy Sykes, on the other hand, may actually have something to offer: he sells his own work and not some garbage indicators you can have for free. Oddly enough, it is he who seems to have more detractors online.
Big Mike is sometimes even mentioned as a positive figure who has helped some, though we believe he has mostly helped them get hooked on trading hoping not to go down as the last moron who has blown two trading accounts.
The only site that consistently and systematically exposes him as a fraud is this blog – yet we may sometimes be suspected of having ulterior motives for doing so, the issue we plan to address extensively in a separate article.
Here comes a question, the main point of this article:
where are Big Mike’s millionaires?!
The millionaires he created, that is. The answer is: they don’t exist. Simple as that.
You cannot create millionaires, let alone successful traders at all, if you are a stinking loser and your site focuses on peddling garbage indicators and attacking your competitors (vendors) or brokers who refuse to kiss your ass via hit jobs masquerading as reviews.
That’s a very negative business model, reflective of self-destructive tendencies, so no wonder that the safest place for it is Ecuador plus Panama (one country is apparently not enough), but not the good old USA. Timothy Sykes, for comparison, lives in the US, in Miami and Beverly Hills (or claimed to live there in 2015), not exactly bad places to live or work in.
Yes, Big Mike is a total fraud. Timothy Sykes may have something to offer, but it is ultimately up to you to decide if that is the case or if it fits your trading style.
Because of his program popularity, the odds you will become another of his millionaire traders are now (probably much) smaller than before, and they never were that good, anyway, but that does not negate the fact that some of his students have become millionaires. We suspect that he is now making most of his living through the marketing of his trading methods, but that still does not change the main point of our article.
We have not done any business with Timothy Sykes nor do we plan to. In particular, we are not his affiliates. Do not mistake this article for “an infomercial” for his business, but do not fall for everything his detractors say either. There are people out there trying to make a career (and money) out of bashing successful folks, Michael Boulter’s “forum” being the sleaziest player in this dubious business. Some of these people are either stupid or outright frauds, though some may just have wrong ideas about trading. We make no money off of our blog nor do we intend to.
Disclaimer. We do not endorse or recommend any trading vendor or educator that we may mention here favorably. We primarily do this for the sake of comparison or making a point or we may use them as an example of what we find positive in the trading marketplace. That does not constitute an endorsement or recommendation and you should always do your due diligence before doing business with any of them.
The Big Mike Trading Forum mentioned or discussed here is now futuresio or futures.io. But it is still the same sham as before for the reasons mentioned here and in other posts on this blog. Read more about it in the first article dedicated specifically to Michael Boulter’s latest fraudulent reinvention.