Honest review: Tim Sykes the Man the Myth
Timothy Sykes, is one of the most talked about individuals in the online trading community. But before I dive into who is he is and why the word “scam” is sometimes associated with his name, let’s start off by taking a look at some charts:
Yes, this is Timothy Sykes’s trading performance over the years. A self-made millionaire, who turned his $12,415 Bar Mitzvah money into six figures by the age of 21 (through trading penny stocks). After making a killing in this domain, he decided to teach the tricks of the trade to students and created online learning platforms. Through them Sykes has built a community of traders who are passionate like him and aim to learn from his experiences.
Is He a Scammer?
In the world of online trading, Sykes picked up pace quickly and started heavily marketing himself. His massive success motivated big names like Forbes, CNN, ABC, The New York Times to interview him. What earns him a lot of backlash is him showcasing his extravagant lifestyle through social media. Since his winnings seem too good to be true, people often speculate whether he is a scam or not.
If you’re someone who’s contemplating over whether or not you should try your luck with Timothy Sykes, you’ve come to the right place. In this review, I’ll share my experiences and get down to brass tacks of his strategies that’ll help figure him out.
As someone who has been following his guidelines, I can safely say Tim’s strategies are an excellent example for traders to learn from. His strategy revolves around picking the best trades with minimum risks and playing with carefully tracked and analyzed patterns.
Tim practices and preaches three patterns in most of his learning courses:
- Morning Dip buys: this is dip buying a big panic near a market open when the stock drops anywhere from 20-40%.
- Shorting the first Red Day: This usually works on a pump and dump or a stock that has been up from 7-20 days in a row
- Buying a first green day winner: Ideally you can use this pattern on an OTC play or an earnings winner.
He thoroughly keeps an eye on stocks pertaining paid promotion strategies as they don’t offer full transparency and show false inflated prices. He heavily emphasizes his students to conduct technical analysis on their own instead of blindly following his alerts or someone else’s trades. Tim believes that a lot of traders take a nosedive because they don’t respect counterintuitive lessons. According to him, cutting losses quickly isn’t fun, but it is necessary if you want to copper-bottom your trades.
His strategies have long worked for him, but if you think he can make you filthy rich in no time, you’d be overplaying your hand. Realistically, Tim’s online subscription courses can help you learn the ropes of online trading as long as you’re willing to put in your hard work.
So, What’s Good?
Tim’s Alert vs Penny-stocking Silver Plan:
I would say in terms of value for money, Penny-stocking Silver Plan takes the lead. The amount of valuable information you can obtain from this plan through exceptionally huge video library and DVDs makes the purchase worth it. His DVD guides are stand-alone products on their way. You have to separately purchase them to reap benefit out of them. Take a look at some of the differences between both plans.
|Plans||Tim’s Alerts||Penny-stocking Silver|
|Price||$74.95/month (save 24% on yearly plan)||$149.95/month (save 28% on yearly plan)|
|Features||Access to Chatroom
Real time alerts (SMS & Email)
|Everything featured in Tim’s Alert PLUS:
5000 plus Video lessons
Daily/Weekly video lessons
|Which plan you should go for?||
DVDs and Video Lessons:
Timothy Sykes has abundance of video lessons and DVD guides that has information overload over stock trading. Because his teaching style is like a college lecture class, it makes it really easy to understand. There are a variety of mini and long courses available. During this video lessons, Tim often refers back to his DVDs, which makes it obvious that watching the DVD guides would obviously give you an edge and better understanding of his strategies. Lessons are categorized and stock tickers tagged. There’s also a bookmarking and rating system. Users can comment on each video lesson and even put some notes.
The Millionaire Challenge:
The Millionaire Challenge is Sykes’s exclusive product, and it comes with a price tag of $5000. Not only is this the most challenging programs of all, but also due to its strict requirements, it is very difficult to access. It requires you to fulfill the requirements of admission as well as pass an interview. I would advise not to opt this option, unless you have a lot of time (and no other job during the trading hours), money and patience to invest and you are really determined to have your place in the sun.
And what’s Bad?
Too Much Information
The downside here is that all this information, all this learning material can be overwhelming at times. Tim is a teacher and his knowledge base is his strength. To really succeed at his course you need to pace yourself, take a step back if you feel the pace is too fast and be as efficient as possible.
The Millionaire Challenge isn’t For Everyone. The challenge basically provides you the opportunity to participate in weekly webinars, where you can get your questions answered directly by Tim Sykes, Michael Goode or Tim Grittani. The community of other traders is also a major bonus, but unfortunately not for everyone.
In a nutshell,
Calling him a scam artist isn’t the right way to go about it. If you’re aiming to learn stock trading with someone who’s transparent, passionate and willing to put effort into training you to be the best, you should sign the dotted line right away!
The post Timothy Sykes – Another Online Scam or Your Doorway to Financial Independence? appeared first on Wall Street Survivor.