Travis Makes Money 789: Tim Sykes | The Trading Challenge
The investing party is over!
Tim Sykes, our guest for today's episode, 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.
Tune in as Travis and Tim discuss today’s reality of the stock market, why people should focus on financial education and why we should prepare for the future. Tim also shares his unique view on networking and mentorship and how he helps his students make more money than him with his Trading Challenge.
Key Highlights:
[00:01 - 07:51] The Million Dollar Injury
From tennis to trading in the stock market
Turning Bar Mitzvah money into MORE money
The hedge fund failure
[07:52 - 14:08] Prepare for the Future
How Tim’s journey made him successful at trading
Why today’s market is at an all time low
Tim’s new favorite asset class: The U.S Dollar
[14:09 -17:01] Networking: Not for Tim
Tim shares why he doesn’t rely on networking or mentorship to succeed
Transparency as a priority
Tim’s students being better than him
Building schools and helping communities in third world countries
Tweetable Quotes:
“You can chill and have no life and be prepared for the craziness that’s coming in the next 3-5 years” - Tim Sykes
“I have the easiest job in the world, all I have to do is say what I do! ” - Tim Sykes
“Patience is actually good for education and trading” - Tim Sykes
Book Mentioned:
The Complete Penny Stock Course
Connect with Tim:
IF YOU’RE LOOKING TO GET RICH QUICK DO NOT GO TO THIS LINK
Check https://karmagawa.com/
Follow Tim on:
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