Before you go gaga over Timothy Sykes, I urge you to watch Wall Street Warriors. It probably, still on You Tube. I think I watched it on Hulu maybe, 5 years ago. Anyway, to make a long story short, a fund manager interviewed Timothy Sykes and he ran a $10,000,000 hedge fund then. Of course, he did not know that he day traded those small penny stocks. The huge problem is that small penny stocks are not scaleable. He did not give Timothy Sykes the $10,000,000. Instead, after that, I read that he lost most of the monies in his hedge fund (most of it his friend's monies) although, he had some monies in it and ended up closing the hedge fund. I actually, bought a couple of his DVDs cheap on Ebay to see his methodology. This guy does not use stop losses. Not here to debate anyone on the merits of having a stop loss. Probably, the same reason he suffered huge losses on that one stock in his hedge fund. He kept holding and holding onto the losing stock. A stop loss would have saved most of his friend's monies.
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