In December this astounding story was published in New York Magazine , it claimed that Mohammed Islam had made $72 million trading Pennystocks. Perhaps not too much of a stretch you say? Well consider that Mohammed Islam is only 17 years old and still in high school!
For Timothy Sykes, co-founder of Profit.ly, it was an unlikely claim considering that just one year before Mohammed Islam had applied to be a student of his own very successful trading challenge with just $1,000 for trading capital! Timothy Sykes is definitely very qualified in judging if a person can go from $1000 to $72 million trading pennystocks in a year – he famously turned $12,000 into $4 million trading pennystocks in just a few years. Timothy Sykes has been trading for 15 years and he so he personally knows just how tough it is to make millions of dollars by you’re trading pennystocks.
So I can totally understand his anger at this guy who turns up out the blue and claims to have made nearly 20 times trading similar stocks to Tim. The story unraveled quickly though when CNBC scheduled an interview with Mohammed and he backed out then admitted it was all made up. .
And then he admitted that he made it all up http://www.theguardian.com/money/2014/dec/16/high-school-senior-who-claimed-fake-72m-fortune-releases-video-apology
Here is a couple of key points that arise from stories like these…
- Mohammed wanted to make millions trading pennystocks but he was not prepared to put in the hard work, the hours of his own time and effort in order to succeed. Tim Sykes has shown that it is possible to go from thousands of dollars to millions of dollars trading Pennystocks in a very short period of time (as have some of his millionaire students). But it was not easy for him and took every ounce of his time and effort to achieve greatness.
- If you are learning from a guru stock online trader, please please please DEMAND to see a complete verified track record. With Profit.ly it is very easy to see who is full of BS and who is a true mentor. A great starting point is any one of these amazing stock trading mentors who verify everything for full transparency on profit.ly.