NEW YORK--(BUSINESS WIRE)--Self-made millionaire trader Timothy Sykes is proud to announce today that one of his Millionaire Challenge students, Tim Grittani, has crossed the one-million-dollar profit mark, becoming his second millionaire student in the last six weeks, preceded by Michael K. Goode.
Grittani, a 24-year-old recent graduate of Marquette University, turned his life’s savings of $1,500 into $1,002,000 in two and a half years by trading penny stocks and following the strategy of Sykes. Starting with a larger investment of $100,000, Goode passed the $1 million profit mark on October 31, just a few weeks ahead of Grittani, following the same strategy that Sykes teaches.
“I am so proud of Michael and Tim for being my first millionaire students,” said Sykes, founder of Millionaire Media and Profit.ly. “I have the formula to make anyone a millionaire and the success of my students proves that my strategy works as they’ve become millionaires in just a few short years like I did. My students come from all walks of life around the world, which shows that no matter who you are or where you come from, I can lead anyone to wealth and success if they just follow my rules.”
By the age of 22, Sykes was a self-made millionaire after turning his Bar Mitzvah gift money of $12,415 into $1.65 million by trading penny stocks. After briefly managing the #1 ranked-short-bias hedge fund by Barclay for three years, Sykes decided to dedicate himself to teaching his strategy to others. In 2010, Sykes co-founded Profit.ly, which was designed to serve as an online platform where traders could share their performance and trades openly to help each other learn and improve.
In February 2011, Sykes created the Millionaire Challenge in order to put his trading theories to the test with the objective of creating a millionaire out of an average person, a goal he’s now achieved two times over.
Sykes is one of five “gurus” on the Profit.ly website who educate their students by providing daily commentary, watch lists, trade alerts, video lessons and webinars. With Sykes as Goode and Grittani’s chosen “guru,” they mastered his strategy, starting with his how-to DVD “PennyStocking” study guides and video lessons, reading his best-selling book, “An American Hedge Fund,” and learning from his weekly Millionaire Challenge webinars.
Previously a skeptic of Sykes’ strategy, Goode wrote a negative article about him on his blog, Goodetrades.com, before trying his system. It wasn’t until he took a deeper look at Sykes’ trades and stock predictions that Goode realized his trading system really worked. Grittani on the other hand, found Sykes through an online ad and applied to the Millionaire Challenge after watching one of his videos and being convinced by his strategy.
During their first six months of trading, Goode and Grittani both lost in the stock market before turning to Sykes for help. Goode made and lost $100,000 before he became a student in 2008. However, Grittani made Profit.ly history when he made $215,000 in one day by implementing Sykes’ trading strategy.
Yesterday, when Grittani crossed the $1 million profit milestone he said “the whole thing feels absolutely surreal, especially when I stop and think about where I was only two years ago – just a college student from a middle class suburban family. I don't feel like I did anything extraordinary to get here, I just did my best to trade well every day. It's amazing how fast the gains added up once I developed consistency. I can’t thank Tim enough. He’s changed my life.”
“Tim is one of the guru’s out there that is real, he’s honest and I trust him,” said Goode. “I’m very happy that I met him and started day trading. I’ve learned a lot from him.”
About Timothy Sykes
Timothy Sykes is the CEO of Millionaire Media and Profit.ly and author of the blog TimothySykes.com and the best-selling book “An American Hedge Fund." He turned his $12,415 Bar Mitzvah gift money into $1.65 million trading stocks while studying at Tulane University from 1999 to 2002, before founding his hedge fund in 2003.
Sykes was named to Trader Monthly’s 2006 “Top 30 under 30” and Barclay ranked Cilantro Fund the #1 Short Bias Fund for 2003-2006 and he has been #1 ranked of 60,000+ traders on Covestor 2007-2012. Sykes also starred in the hit TV show “Wall Street Warriors” and has been featured on CNN, ABC, CBS, CNBC, FOX, AOL Finance, MSN Money, Forbes, TheStreet.com, Reuters, BusinessWeek, Marketwatch, Institutional Investor, Salon.com, The New York Post, The New York Times and The New York Observer.
Today, Sykes works as a financial activist and educator, with more than 2,500 students in over 65 countries. This is just the short-list of Sykes’ story. For a full read of his journey to becoming a millionaire, visit www.timothysykes.com/about.