Most beginning traders have heard of Timothy Sykes. He’s a minor celebrity in the day trading space and arguably the world’s best-known penny stocks guru.
Investing in penny stocks is highly speculative and most traders lose their money. Because of this it’s vital to find good teachers if you’re interested in pursuing a career as a trader.
Sykes mixes opinions. Some consider him one of the best traders in the game. Others claim that he’s basically a self-styled expert who makes money primarily from teaching other people.
It’s not our intention to defend either one of those positions in this post. You can find information on that subject and read Timothy Sykes reviews elsewhere.
Instead, we want to provide a straightforward, unbiased overview of his courses so that you can make an informed decision about whether or not to part with your hard-earned dollars.
How Does Tim Sykes’ Approach Day Trading?
Like most penny traders, Sykes relies on forecasting techniques and indicators to predict short-term fluctuations in the market. He makes profits from a mix of long and short positions, investing in shares which show an upward trend and shorting shares with diminishing value (although he does say you have to be careful with the latter technique).
His approach incorporates a mix of market analysis, attentiveness to news cycles, and an ability to spot inflated prices which are the result of hype, celebrity endorsements, company promotions, and so on.
Similarly, there isn’t much of an emphasis on in-depth analysis of company financials. Sykes advocates short-term positions based on a mix of historical performance and current market understanding. He also advises his students to sell quickly when market indicators shift and focus on high-volume opportunities, rather than stocks which trade at fewer than 100,000 shares a day, which can be difficult to get rid of.
Sykes also places significant weight on spotting inflated stocks, attributable to pump-and-dump schemes and other artificial mechanisms, and taking advantage of them.
The Complete Penny Sock Course
Price: $38.99 new on Amazon.com.
Probably the best introduction to Sykes’ training materials is his book The Complete Penny Stock Course. It’s a comprehensive overview of penny stock trading and will provide you with a solid foundation as a beginner.
The book is relatively linear in its approach and assumes no previous knowledge of trading, so it’s not suitable for people with experience beyond the basics. Readers will learn how to implement core trading ideas, perform research into a company, build watchlists to track promising shares, and understand charts so they can find and predict profitable patterns.
Sykes also covers pump-and-dump schemes and how to avoid them (as well as ethically profit from them), how to develop your own unique style as a trader (without relying on outside knowledge), and how to keep up with macro-trends in the market.
Price: $74.95/month with a 24% discount for an annual subscription.
“Tim’s Alerts” is Sykes’ most inexpensive subscription service. It’s made up of three core parts: access to the Profit.ly chatroom where members can discuss their strategies and trades with other traders, a daily stock watchlist, and alerts about promising trades.
Tim’s Alerts is better-suited to traders who already have some experience of the markets and know how to implement profitable strategies.
If you already have a foundation and you’re ready to dip your toes in the water, or don’t have the time or inclination to consume more training materials, the alerts will provide you with good pointers. You will also get access to the chatroom where you can bounce ideas off experienced traders and receive feedback.
Price: $149.95/month with a 28% discount for an annual subscription.
PennyStocking Silver is Syke’s mid-tier program and is designed for investors with a grounding in the basics that want to build on and improve their existing skills. It includes everything offered in “Tim’s Alerts” – access to the chatroom, notifications via SMS, email, and push, and daily watchlists – along with a library of over 6000 videos, which is updated weekly.
It will be impossible for subscribers to get through all of the content that’s on offer, but it’s an excellent resource for traders that want access to structured, in-depth training. Many also like the weekly videos because they contain current trading advice based on recent market movements and trends. This kind of information is valuable to beginners and experienced day traders alike.
Price: Pricing isn’t published.
Sykes premier training course, “Tim’s Millionaire Challenge”, is offered through his website TimothySykes.com. It’s only available by application (although we can’t imagine the criteria are overly restrictive) and comes with access to all of the resources contained in Pennystocking Silver and Tim’s Alerts.
On top of this, students also have access to exclusive weekly webinars (usually around three per week), additional training materials, and a dedicated chat room for fellow members.
The Millionaire Challenge is a good option for traders that are looking to take their game to the next level and want a full immersion.
Timothy Sykes offers a range of courses across multiple price-points. His training materials are suitable for beginners and more advanced traders alike.
If you’re starting out, our recommendation is to opt for one of his lower-priced products to see if you like his style and philosophy.
Disclaimer: This content does not necessarily represent the views of IWB.