Timothy Sykes is a well-known penny stock trader and entrepreneur. The self-made millionaire has become synonymous with the world of penny stocks and day trading. Much of this is due to his non-stop marketing and how he advertises on social media.
Hopefully in this review I can help you decide whether signing up for his service is worth the time and money.
Born in Orange, Connecticut in 1981, Tim started trading at a young age when his parents gave him full control of his Bar Mitzvah gift money! His parents thought he was going to lose everything and wanted to teach him a lesson about money.
Little did they know they created a monster! Tim would later convert that $ 12,415 sum into $ 1.65 million to trade 100 penny stocks during the dotcom bubble.
Because of his success, family and friends wanted him to invest their money. This led Tim to set up a hedge fund (the Cilantro Fund) in his senior year at Tulane University.
In its prime, the fund managed only $ 3 million as penny stock short selling is not a scalable strategy. It’s possible to make $ 1 to 2 million a year if penny stocks aren’t slashed tens of millions.
Sykes was listed as one of the top traders on Wall Street in 2006 Trader Monthly’s “30 under 30”. As you can imagine, his unique story got a lot of media attention, which resulted in him starring in the first season of Wall Street Warriors, a popular reality television show.
When the series aired, hundreds of people emailed him to learn more about trading penny stocks. This later inspired him to write a book called An American Hedge Fund: How I Made $ 2 Million As A Stock Operator and Started a Hedge Fund.
After the Wall Street Warriors, Sykes continued day trading and later started his blog timothysykes.com. Due to the high demand, he created several newsletters to cater to every trader from beginner to advanced.
As of now, Sykes has three subscriptions – Tim Alerts, Pennystocking Silver and the Millionaire Challenge.
Click here to sign up for plans!
Tim Alerts is the most basic plan. For $ 74.95 per month, Sykes offers chat room access, a daily watch list of 5 to 10 stocks, and real-time notifications via SMS and email. The only problem is that the 4,400+ video courses are not included in this subscription.
If you are new to stock trading, the training videos are a huge loss. Also, most people think they can just copy warnings and land simple profits. This won’t work because penny stocks are moving too fast. Do not copy his trades like some gullible followers did before.
The warnings are intended as a guide to help people become independent traders and thinkers. Find out for yourself how to perform technical analysis, search for stocks and create watch lists.
For new penny stock traders, Pennystocking Silver is the most suitable plan. It includes features from Tim Alerts as well as access to an extensive library of more than 4,400 video lessons and new weekly video lessons.
While it would be time consuming to view all of the lessons, the lessons are full of wisdom. That is why Tim recommends studying the past in order to benefit from the future! The patterns he teaches can be predictable and often repeats itself.
Millionaire Challenge: is it worth the price?
The Millionaire Challenge is Tim’s Premium Course, which is designed to provide further education to students who are serious about investing in their education.
Be warned, though the challenge is expensive and costs a whopping $ 6,000. Before you can join, you will need to apply for an interview to see if you are eligible for the program.
For $ 6,000 you get:
- Millionaire Challenge DVDs: Access to all of the Tim Sykes DVDs (14 when I last counted) and a copy of Trading Tickers, a highly rated DVD created by Tim Grittani.
- Weekly private webinars from millionaire students like Mark Croock, Tim Grittani, Tim Lento and Michael Goode. The webinars and chat room help minimize the learning curve rather than lead it alone.
- One-year membership to Pennystocking Silver, which includes 4,400 video courses, its daily trade notifications and watch lists.
- Private chat room only for challenge students that isn’t full of beginners asking simple questions.
- Lifetime discounts on all other product purchases and conferences.
I recommend signing up for Pennystocking Silver first as it is more cost effective for new traders. It doesn’t make sense to spend $ 6,000 without knowing the basics of penny stocks.
Timothy Sykes DVDs
Tim made $ 6.1 million from day trading alone, but now makes most of his income running a trade education business. The DVDs are expensive but required if you want to learn the strategies.
Check his store for discount codes and it might be worth checking out eBay for old students selling DVDs. In the past, DVDs could be downloaded for free on torrent sites but are no longer available.
List Of The Best DVDs From Tim To Buy At Profit.ly:
- Dealer Checklist Part Deux
- Pennystocking Part Deux
- How to make millions
- Spike ability
- Read the SEC filings
- Learn Level II
What is Tim’s strategy?
The main strategy of Sykes is to sell short on hyped penny stocks and make a profit when they fall in price. A strategy that can be risky if you don’t know what you are doing because these stocks are volatile.
Tim uses technical analysis to identify chart patterns that will improve your chances of success in trades. An example of a chart pattern he likes is the first red day pattern.
If a stock has been green for several days and then closes the day red, many traders will soon sell, causing the stock to fall. If you short on the first red day, it can result in multiple red days, which means more profit. The key here is waiting for the dynamics to change before moving.
Sykes also likes to take advantage of buying outbreaks. He publishes a special newsletter ‘Supernova Alerts’ to focus on this strategy. Overall, his techniques are more suited to smaller accounts than those that require millions of dollars to be invested.
Is Timothy Sykes a Scam?
As can be expected, many traders are skeptical of its history. Over the years, Tim has had no problem attracting haters because he advertises online. His Instagram Account advertises this extravagant lifestyle, flashy cars, stacks of money and exotic vacations. A lifestyle that everyone wants to live.
People often wonder if Tim is real? Are His Stock Trading Profits Wrong? Does he just make money selling products? Personally, I don’t think Timothy Sykes is a fraud. Just because he makes more money teaching than trading doesn’t make him a scam. Business is indeed booming for Sykes as he has a net worth of $ 15 million!
He has helped create multiple millionaires through his teaching, although not only is he responsible for their success, but he has played a huge role in making them work.
- Michael Goode – started out as Tim’s first hater to publicly criticize him online but later became his first millionaire student.
- Tim Grittani – Grittani is a day trading superstar who turned $ 1500 into $ 13.4 million in 8 years.
- Steven Dux – Dux is a very intelligent trader with an analytical mindset that has been crushing him for four years. Dux turned $ 27,000 into $ 9.3 million in 5 years. This guy’s a machine!
- Mark Croock – Croock has switched from student to teacher and is now part of the Millionaire Challenge as a mentor.
- Tim Bohen – The lovable villain was an early case study of how successful trading is as a side business. Bohen is now the senior trainer at StocksToTrade.
- Roland Wolf – Roland came out of nowhere in 2017 when he turned $ 4,000 into $ 170,000. Another great story that will inspire you to learn harder.
- Kyle Williams – Kyle, one of his recent success stories that passed the six-figure milestone, has been on fire lately and is sure to hit a million dollars in the next two years.
How much money do you need to get started?
It is recommended that you start with at least $ 2,000 as brokerage fees will wipe out your profits. To avoid the pattern day trader rule, you need to deposit $ 25,000.
To get around this rule, most people open multiple brokerage accounts to place more trades. If you split $ 10,000 into five different accounts, you can make 20 trades in five business days. I would avoid offshore brokers as they are not reliable.
E-Trade and Interactive Brokers are the top two brokers Sykes recommends to students. Ultimately, it doesn’t matter which broker you choose as long as you get solid trade executions and cheap commissions.
Timothy Sykes is the real deal, he’s been interviewed by the likes of Larry King and Steve Harvey. His trading profits are real and have been verified on Profit.ly.
He may have $ 1,000 days, but the real question is, can he teach you to make the same money? Your overall success depends on how determined you are to learn the strategies from the inside out.
Take part in the training and so as not to get rich quickly. Surround yourself with experienced traders and you will become a better trader yourself.