Tim Sykes Review
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Chat Room
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Video Lessons & Education
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Service Value
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Transparency
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Ease of Use
Summary
Tim Sykes is the subject of a lot of attention (both positive and negative) due to his flashy marketing and bold claims. Our review delves deep into Tim’s service to help you decide if its a good tool for furthering your education or a scam that should be avoided.
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About Timothy Sykes
Timothy Sykes’ name has become almost synonymous with online day trading. For those just starting to explore this world, his is one of the first names – maybe even the first name – they’ll see. With his brash and flashy personal brand centered on touting his millionaire lifestyle, whatever you may think of him, he’s certainly made himself noticeable.
Tim Sykes made a name for himself on one key thing: he turned $12,415 of bar mitzvah gift money (we should all be so lucky to be given $12,415) into $1.65 million dollars before he turned 21, all by day trading penny stocks. No other trader with a similar service can say that. He has since written a book, An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund, and created what amounts to a small empire teaching others his trading strategy.
Tim Sykes now runs a trading education service and chat room. Keep reading our Tim Sykes review to see if this service is right for you.
Tim Sykes’ Approach to Trading
As mentioned previously, Tim made his name on penny stocks. However, he has since expanded into other kinds of stocks, particularly earnings winners. (Since penny stock markets aren’t always hot, this is a necessity in the long term.) His strategy is rooted in technical analysis (i.e. stock charts) but also incorporates paying attention to news catalysts and, in particular, paid promotions.
Penny stocks are notoriously shady in general, plagued by sketchy companies that inflate the stock price with a paid promotion. Once the promotion ends, the price drops back down. Tim and similar traders make their money shorting these stocks. It’s worth noting that he has, to a certain degree, used his notoriety to call out business and corporations running these so-called “pump and dump” scams.
Subscriptions and Pricing
Sykes offers three different subscriptions:
- Tim’s Alerts ($74.95 per month)
- PennyStocking Silver ($149.95 per month)
- The Millionaire Challenge ($5,000 per year).
In terms of bang for your buck, these are a bit less expensive than other comparable services (other than The Millionaire Challenge, but we’ll get to that in a second), and generally of the same or better quality. Since Sykes’ programs have so many subscribers, it may be that he doesn’t need to charge quite as much to turn a profit.
Subscriptions can be purchased on Profit.ly, alongside services from other traders like Superman Trades.
Let’s take a look at each of these services and see which one is best for you (if any).
Tim Alerts
Tim Alerts is the most basic service, offering chatroom access, a daily stock watchlist, trade alerts and other push alerts. Experienced traders will find it useful, but without the instructional videos offered at the next level up, if you’re not already familiar with the lingo and concepts of trading, this may not be all that helpful.
This subscription is the best fit for experienced traders.
This is the best subscription for people who want access to the trading room and trade alerts. If you don’t plan on reviewing Tim’s educational video library, you can save $75/month by opting for the Tim Alerts plan.
Save up to 50% on Tim Sykes Courses & Memberships
Pennystocking Silver
For new traders, PennyStocking Silver is definitely the way to go. This subscription offers the services of Tim’s Alerts, plus weekly video lessons and access to Tim’s library of over 4,400 existing video lessons. While it’d be tough to get through all of them, they’re full of trading wisdom gold. Tim’s simple and clear explanations are perfect for those just getting started in trading.
This subscription is the best fit for beginner/intermediate traders.
Trading education is incredibly valuable for new traders who are still learning about trading methodology. There is a lot of information covered in Tim’s videos. He will cover everything from technical analysis to fundamental analysis to trading psychology. The video lesson library is definitely one of the most valuable parts of the service.
Millionaire Challenge
Now, The Millionaire Challenge is an interesting program. It’s the premium service, if you will, with everything from PennyStocking Silver plus private webinars with Tim and his protégés (like Michael Goode and Tim Grittani). The Millionaire Challenge is available for a whopping $5,000. $5,000 is a lot to drop on anything when you’re starting out as a trader – that money could be used toward trading, which might be a better use of it. That said, Tim has a lot of success stories and a few millionaire students. It certainly seems that he’s helped a lot of people make a lot of money. If dropping $5,000 doesn’t make you flinch, it may be worth a shot, but this writer has yet to take that plunge.
I personally avoided the Millionaire challenge because I got the education I needed with the Pennystocking Silver course and a few other trading courses I watched.
While there is a lot of hype around the Millionaire Challenge, there is no denying that it is expensive. If you are considering the Millionaire Challenge, consider starting with a lower-priced subscription to see if it is a good fit.
The Millionaire Challenge Includes Access to all of Tim’s Educational Courses
Timothy Sykes’ Chat Room
Tim runs a chatroom on profit.ly that’s accessible to students enrolled in any of his courses/plans. Tim is online making just a few bigger trades every day, while the other moderators – especially Michael Goode – are a bit more active in the room. Tim’s not quite as accessible as some traders running similar rooms, but his trades are good and Michael Goode is a real plus. Goode, as well as being one of Tim’s millionaire students, is a solid trader and active moderator in the chatroom.
Tim Sykes Chat Room
The chatroom is a little noisy since Tim has so many subscribers – especially new traders – but you can filter for just moderator posts if you don’t want to see all of that. The chat room isn’t as active and on-topic as chat rooms like Investors Underground and Bulls on Wall Street, but it is still a valuable part of the service.
The chatroom also includes alerts whenever Tim makes a trade. These alerts are available by email and phone too so you don’t need to be on the chatroom to be up on what’s going on and take action. That said, the alerts aren’t there so you can simply follow Tim’s trade moves – rather, they’re to help traders understand the moves he’s making. By the time you follow Tim’s alerts, if you just copy him, you’ll be late to make a good entry. Instead, the alerts are best used to help understand what moves he’s making, when, and why, and then use those techniques to make your own plan for a good entry.
Overall, the chatroom’s a great feature, though it would be nice to see Tim on there a little more.
Should You Sign Up?
New traders, without a doubt, will get the most value out of Sykes’ services.
Experienced traders will likely want a room with more active trading, though they may still find his alerts handy and of good quality. Those just getting into trading, on the other hand, will find it digestible and – thanks to the alert system – can learn without needing to be at a computer through trading hours. It’s also best for those who have less than $25,000 in trading capital and/or fall under the PDT (Pattern Day Trader) rule – i.e. those making three or fewer day trades per week.
If you are new to trading, the Pennystocking Silver plan offers the most value. You will get access to watch lists, trade alerts, and, most importantly, a massive library of trading education.
Is the service a good value compared to other services?
Overall, for newbies, yes, Sykes offers great value – especially the PennyStocking Silver option. His videos are clear and easy to understand and his methods are as close as you can get to tried and true. More experienced traders may want to shy away from this one or stick with just Tim’s Alerts, since they’re less likely to need the videos, but for those interested in the how and why behind Tim’s moves, the videos might still be of interest. The Millionaire Challenge is a little less cut and dry. It seems that people have benefitted from it, but the high price tag makes it harder to recommend. That $5,000 may be better spent on trades if funds are in short supply.
There are also other penny stock alert services like PennyPro and Claytrader to review before you make your decision.
If you are still unsure about signing up, start by reviewing some of the free material on YouTube. When it comes to finding a trading service, it’s all about finding something that works for YOU – not every service is a good match for every trader.
Is Tim Sykes the Real Deal?
Tim Sykes uses a lot of aggressive marketing tactics to attract new traders. He is constantly flaunting his wealth in the form of exotic cars, hotels, and vacations.
While it can be difficult to look past the marketing, Tim Sykes is actually a legit trader. More importantly, he is a legitimate educator. Tim’s teaching style seems to resonate well with new traders. His strategy is simple and easy-to-follow. Day trading may not be as simple as Sykes makes it out to be but Sykes is far from a scam.
In Conclusion
For all the criticism leveled against him, Timothy Sykes’ system has made at least a handful of millionaires. However, some find his bravado and chest-pounding about his millions grating – especially when they’re putting their hard-earned money into his system. It’s possible to feel like there’s a funnel from your bank to his beautiful suite in Thailand. But if you can avoid getting bogged down with FOMO, he does know what he’s doing.
I interviewed for the million dollar challenge, which I was called at 7:00 am on my day off. I was half asleep and after asking me my goals and why I wanted to trade, probably because I am naiive and i had no idea what penny stocks were and then he told me I was a good candidate and I’m still wondering whs guy James says I’m not even I was chosen. I’ll tell you why because they are preying on the elderly people and stroking their ego,After telling him I might need 2 surgeries and not be able to do it ,he says no problem we’ll keep your account on hold, I am totally upset with myself and depressed because of the pain I’m in, and so now I’m out 6500.00 because his friend James told me I wasn’t even trying, well I’m hurting just writing this and I nearly begged him to reimburse me and he said I’ll help you just try. I said you don’t get it I’m nearly crippled with back problems and all I can think about is the biggest mistake I’ve ever made.
Carol , I am just curious as to how you lost your money . If you did not know what penny stocks where why didn’t you do research on the company or how penny stocks are traded before handing them money. There seems to be some gaps in the story. I do not use the course but i do know it is all in you . This course is set up for you to be responsible for all of your actions. If this did not go so well can you elaborate as to why it did not go well. Also when you ask for an interview , You have to schedule the time. I know i had to when i schedule for mine. SO the fact that you say you where half asleep indicates already that you where not prepared for the phone call. I am not being negative at all i just want to know what you did after signing up. How much time did you put in,? What kind of risk management did you practice when you traded?
John,If I may ask which suscription did you go for?
One giveaway for me is when people throw a “live” webinar and it’s not really live. This turned me away from Tim.
My experience with the Sykes organization has been one I am thoroughly pleased with. I have not yet traded because I am still studying and making myself acquainted with the methods and examples given in the course I’m taking (Morning Profits). My previous experience with a mentor (Stock Option Coach) made me realize it’s not the method you are learning that will make you successful, but rather the ability and desire of your “mentor” to teach, encourage and be patient with your effort. My experience with Sykes is that he is dedicated and doggedly determined that you study and learn what he, and many of his students,
have proven to be solid principles. If you fail after studying with Sykes it’s because either you don’t have an aptitude for trading or you’re just trying to get rich quick the lazy way.
DO NOT JOIN TIM SYKES!!
I have been with Tim Sykes program going on 2 years. My first year was at a loss. So I was given a second year enrollment with no charge, because that was the deal. If you don’t make anything you get second year free. Well I have not made a penny in this second year. I find his recommendations does not work. I am beginning to study on my own and have made money with my own picks. Not a lot of money but I am not at a loss as Tim Sykes’ program did to me. I do not recommend his program. Save your money and invest it somewhere else. After this second year is over, I will not re-up with his program. His recommendations were so bad, it forced me to learn on my own, which I am thankful for.
You do not follow his trades an recommendations you learn from them find what works best for you and do it. Anyone can make money if they put in the time with Sykes and. LEARN. Following someone else’s recommendations is lazy and foolish,
I was super close to joining the millionaire challenge but. I didn’t. If you sign up for the challenge before you actually pay, he has you watch a bunch of videos which he calls homework. The videos are all inspirational, people who have succeeded, Timmy’s successes, he will tell you over a hundred times that he wants to just be a mentor. You will watch videos from his TV show but tell you very little about how to trade. In fact he keeps saying in the videos we will get the meat and potatoes in a second but first we have to start off with easy principles like I want to be your mentor, the process isn’t easy, but I am going to reveal my secret patterns to you. Slowly by the end of the videos the language starts to change from secret trading juju to my rules for trading. Marketing marketing marketing, basically he wants you to drink the cool aid about success, becoming a millionaire, dreaming, setting goals to help others etc.
Then the interview came to see if I would be a good candidate for Timmy to mentor me to be a millionaire. The interviewer as far as I can tell is a sales person sitting in some cubicle. Timmy is not going to mentor you, the chatroom where all the other candidates are supposed to hang out has about 700 mentees, meaning no personal attention. The weekly webinars are not live but prerecorded and the cost is 3750 up front and another 3750over the course of 3 months.
Lastly the software he wants you to use is owned by him and its a monthly subscription, like $175 a month. The point that caused me to pause during the interview was a question I had, asked what’s the percentage of people who go thru the program succeed. Now they will throw all kinds of stats and figures at you, they know their numbers except for this one. The salesman said oh well you know there are so many factors that play into this and we don’t know. If they don’t know what their success rate is than they are either hiding this because its super low or they don’t care because they have already received your money up front.
My guess is that once you pay you will be given access to everything and then you will see what you get.
I am disappointed in the reviews. I was thinking that I would see more positive comments about how people learned his methods and processes and used them to successfully trade. Do know it takes time, patience, and exhaustive learning to get there. I purchased the 30-day boot camp and finally go the book. It just so happens I got terribly sick after starting this program and the book was late arriving. The book is written at probably the 5th grade level so super easy to read but like the comments above tit seems to have lots of stories about the successes and failures rather than the meat and potatoes of the mechanics of trading and process of trading. It does have some of it. Read the first 100 pages in a little over a couple hours.