Penny stocks are difficult to trade successfully unless you know exactly what you are doing. I came across Timothy Sykes in my quest to learn how to trade penny stocks efficiently after wasting time, energy, and money trying to figure it out on my own.
Most penny stock newbies like myself inevitably lose most or all their trading capital by becoming hapless victims in pump and dump schemes. Hence, I was initially sceptical when I learned about Timothy Sykes and his Millionaire challenge.
However, seeing that I already lost money trying to figure out how to trade penny stocks on my own, I owed it to myself to undertake some learning in one last attempt before giving up on penny stocks.
After joining Profitly and taking the time to educate myself with Tim’s educational content, I am often surprised to see sceptical takes on his training programs. This is my attempt to provide potential traders with honest first-hand insight into my experience with Tim’s stock trading training programs.
Introducing Timothy Sykes
Timothy Sykes is a well-known figure in the penny stock trading industry. He is the wunderkind that turned his $12,415 Bar gift Mitzvah money into an inspirational success story of more than $5 million in trading profits. He has also achieved global acclaim as a coach teaching people how to become successful stock traders. His success story as a trader and the verifiable success story of his students has been featured on CNN, Bloomberg, Forbes, and CNBC among others. He has also appeared on Steve Harvey and Larry King’s shows.
Timothy Sykes Trading Strategy
Before I started learning from Timothy Sykes, I didn’t particularly have a trading strategy. For the first few months, I was essentially gambling, relying on tips, stocks picks, and mostly just buying a stock because it rallied by some double-digit percentage in the previous days. Picking stocks haphazardly turned out to be a disaster, most of my random picks were bad, but I didn’t know when to exit on the few good picks and I ended up losing money either way.
After some time, I started looking at the stocks from an investor perspective. Many penny stocks newsletters tend to present the companies behind penny stocks as mysterious small companies working on mind-blowing products and services that might make them the next Amazon, Google, Facebook or whatever. The fear of missing out then pushed me to buy those stocks only to find myself holding empty dumps at the end of the pump.
When I got started with Timothy Sykes, I observed that Tim is not particularly interested in identifying the next Amazon. This was jarring for me because I was originally interested in penny stocks in the hopes of buying the next Facebook for pennies per share.
• Technical analysis over fundamentals
Tim focuses on technical analysis of stocks and fundamentals only serve to confirm what the charts have suggested. Tim has expertise in identifying penny stocks that are already on the move, buying them just when the momentum kicks off, and then selling them just before the momentum drops. Hence, Tim typically holds his positions for a few hours, and he rarely holds a stock for more than two days.
From Tim, I learned that you can also short penny stocks. Penny stocks are mostly speculative; their prices soar based on hype, but the hype eventually ends the stocks crash to fair market prices. Hence, if you miss the momentum to profit from the high, you can strategically short the stock to profit from the inevitable drop. In conclusion, Timothy Sykes’s trading strategy taught me how to profit in the stock market irrespective of whether the stocks are trading up or down.
Here’s my take on Timothy Sykes training programs
Timothy Sykes offers three levels of training for people interested in learning how to succeed in the stock market. The three levels of training are Tim Alerts, Pennystocking Silver, and Tim’s Challenge. I am typically very wary of stock trading training programs – in most instances, they teach you basic information that you could have found with on your own via Google search or YouTube videos. Sometimes, the training programs are cleverly disguised marketing props designed to upsell you a “trading system” or give you access to “hotlists” which does nothing to make you an informed trader.
However, Tim’s training programs are value-driven, value-packed, and relatively cheaper than many of the other questionable stock trading training programs out there.
Tim’s Alerts cost $74.95 per month but you can take advantage of a 24% annual discount to get for around $684 per annum. Tim’s Alert is good for testing the waters if you are not quite sure that you are cut out to trade penny stocks. Tim’s Alerts give you access to the chatroom where you can follow the conversation among other traders. You get daily stock watchlists and you can see the performance of those stocks by looking for their mentions in the chatroom after some days. You’ll also get real time trading alerts via SMS, Email, and Push notifications.
However, I think the PennyStocking Silver program offers more value to someone interested in knowing how to make smart trading decisions. In my view, Tim’s Alert gives you access to information to make smart trading decisions, but PennyStocking Silver teaches you how to make those decisions on your own. Pennystocking Silver costs $149.95 per month but you can get a 28% discount if you opt for the annual plan.
Tim’s Challenge also called Tim’s Millionaire Challenge is the real deal if you want to make a living from trading penny stocks full time. You’ll be required to go through an application and interview process designed to give Tim an idea of your motivations, commitment, and dedication to the program.
The program is resourceful with more than 300 hours of specially curated videos and access to a 6000+ video lesson library. And then, there’s the webinars, newsletters, alerts, chatroom, and community. If you get into Tim’s Challenge, you can expect to experience some personal mentorship with Tim and access some exclusive premium content such as a recap of hot sectors as seen in the image below.
Tim has several students who have taken the Millionaire challenge and successfully crossed the million-dollar threshold. While Tim’s career trading profit is a little over $5 million some of his students such as Tim Grittani have succeeded in outperforming him in their lifetime trading profits.
Will signing up Timothy Sykes training program guarantee that you’ll become a penny stock millionaire? No! In fact, you should be wary of any trading coach that promises you guaranteed success – the stock market is unpredictable and past performance is never indicative of future performance.
However, undergoing Tim’s training program, dedicating yourself to understand the rationale behind each trade, training yourself to be attuned to the psychology of the market will help you make informed trading decisions as opposed to random stock gambles. You’ll win on some trade, lose money on some trades, but ultimately, your winning trades will be more than your losing trades. Tim himself has a 75%-win rate, maybe you won’t get this rate at the start, but learning with Tim will set you on the right path to minimizing the odds of your trading losses and maximizing your trading profits.