Today I’m going to bring to you my fresh from the oven Tim Sykes review- the biggest Day Trading education provider/salesman under the Sun.
Picture source: Inc.com
The main aim of my Timothy Sykes review is to actually find out if he is worth your time and hard-earned money. Will his teachings help you become a profitable trader or should you run the other way.
I do my very best to save you time and money with this (hopefully) entertaining Timothy Sykes review.
Use: Day trading chat room, alerts and education service provider.
The trading strategies Tim teaches are effective and can make you money. He has 4 students that have become millionaires and all of them teach in Tim’s chat room and training programs. His most successful student has made over $7,000,000 in profits.
The basic service – Tim’s Alerts is the cheapest option on the market. However, I do recommend the Silver package, as you’ll also get the video lessons. The video lessons are the key to learning the strategies.
The chat room and the video lessons are geared towards beginners. However, if you already know your way around the markets, you’ll be OK too. Tim has put out over 5000 videos to learn from.
What I Like
What I Don't Like
Summary: Overall I think that Tim Sykes is the best option if you’re looking for proper day trading education or just good stock picks. I’ve tried out and reviewed a number of competing services, but none of them match what Tim is offering. Seriously.
Table of contents:
- Who is Timothy Sykes?
- What is Timothy Syke’s Strategy?
- Are his Claims of Success Really True?
- What is Timothy Sykes’ Net Worth?
- Timothy Sykes’ Rich Students
- The Education Options Timothy Sykes Offers
- Is Tim Sykes Worth Your Time and Money?
- Feedback from Others
Ok, lets start off with a formal introduction of the rich jew:
(or click here if you already know who he is and want to skip this part)
#1 – Who is Tim Sykes?
Timothy Sykes is a famous penny stocks trader and educator who has been brought to fame by a TV show – Wall Street Warriors. He was featured as a reckless young day trader who was starting a hedge fund from his dorm room.
I’ve embedded the full episode that introduces him, in case you’re interested.
After receiving a ton of emails since the show went live, he decided to start selling his trading education, which has now grown into a business that is making him 10s of millions of dollars every year.
Yes, that’s right. Timothy Sykes makes north of 10 million a year from selling his educational products on trading, over 10 times more than he makes with trading itself. This was a huge red flag for me when I discovered the fact.
Although if I come to think of it, he was making about a million per year on average with trading penny stocks while having to take significant risks, the education gig has a much higher potential with little to no risk.
There is nothing wrong with focusing on selling education as long as there is real value in the education that he provides, which is something that I’ll get into in a bit.
But going back to how he made his first million from his dorm room and by the age of 22 at that, it started when his parents gave him bar mitzvah gift money worth $12,415 with the thought that he would waste it and learn the value of money.
Well, plot twist, the young Tim turned that bar mitzvah gift money into more than $200,000 in two years time. He admitted skipping classes just to trade penny stocks and it paid off.
By the time he reached his senior years in college, he was already a self-made millionaire. When he was interviewed by Under30CEO, he was asked “how the hell did you make $2 million from your college dorm room?”
To which Tim replied that his first million in the penny stock industry was made through trading hyped up penny stocks. That was when he discovered stock market patterns that were “predictable 90% of the time.”
It’s “pattern recognition, like a pendulum,” he added. Tim said that his early exposure to penny stock trading was about taking small gains almost every day and the gains just added as days pass by.
#2 What is Timothy Sykes’ strategy?
Really now, if it’s pattern recognition, you may think there must be some sort of strategy, right? Well, the famous penny stocks trader did share that he has a trading strategy.
Without it, you’re just gambling.
Cut losses as early as possible
The first-day trading strategy (and the top rule) is to cut losses as early and quickly as possible. This means that if a stock turns against you, exit immediately. Some people hold and hope that their penny stocks will rally.
Sometimes, it does increase but Sykes said he would rather move forward to the next play. He reminds those who are interested in stock trading that penny stocks are subject to extreme changes and are highly volatile.
As such, if the price action begins to move against him, it would get out quickly. This is also why liquidity is important to him. If the company is too illiquid, it isn’t easy to exit easily.
Look at the stock charts and recognize patterns
Another strategy he teaches his students who are a part of the highly coveted Millionaire Challenge, also known as Tim’s Trading Challenge, is to learn how to read stock charts and spot patterns from there.
I’ll talk more about the Millionaire Challenge in a bit.
Use technical analysis
Sykes shared that he has various students who are a part of the Millionaire Challenge and they have already crossed the million thresholds. These are the ones who focused on technical analysis of a penny stock rather than fundamentals.
The Timothy Sykes Training program teaches the value of determining penny stocks that are on the move, buying these stocks only when the momentum kicks off, and selling them as the momentum drops.
Does this mean fundamental analysis is not helpful? Well, Sykes said it’s more applicable for long-term investors. For short-term and new traders, technical analysis is better.
Know all possibilities
When Sykes mentors new traders, he also teaches them the common strategies and how each works. Some of these possibilities include:
- Day trading (trading stocks within the same day)
- Swing trading (same with day trading, but you hold the position for months, weeks, or days, depending on the trade)
- Position trading (can be used by master and new traders in a bull market although it usually fails in a bear market)
- Scalping (a trading style that specializes in gaining from small price changes. Think of this like micro-moments but this strategy requires intense stamina and concentration)
For new traders, Sykes recommends they go for day trading penny stocks. But regardless of the trading strategy you adopt, education will be very important.
If you don’t know a thing about a given stock, wouldn’t it be difficult to know its potential price action? he said.
You might be surprised, though, that Tim’s trading strategy reminds people that trading for profit is not a walk in the park. If it was, then every person would probably be doing it. No matter how prepared you are, you won’t get things right all the time.
But once you learn a variety of trading setups and styles, you can also hone in what makes sense to you and apply the best trades where you have the most consistency. Tim said the reason why he shares his stock trading techniques is so that others can learn from them.
#3 Are his claims of success really true?
There are so many snake oil salesmen selling stuff online, that an average internet user such as myself has become super skeptical of anyone making claims.
However, in Tim Sykes’ case, I do not believe that he would have been in the reality show if he didn’t have some sort of success. So he must have done something right.
One very convincing proof of his actual success is the fact that Tim Syke ranked as a top trader on Covestor.com for 4 consecutive years. That is something that I don’t think is fakeable.
Now Covestor was a site, where your trades were automatically transferred to the website stripping you from the option to fake your results.
This means that his Interactive Brokers account’s results were directly uploaded to the website and anyone who wanted was able to copy his trades for a management fee, which was paid to Timothy Sykes.
Covestor has now been acquired by Interactive Brokers. But the same concept is still alive via various social trading sites such as eToro.
#4 What is Timothy Sykes’ net worth?
The fact that Tim Sykes is trading penny stocks and maintains a lavish lifestyle depicts the image of “The Wolf of Wall Street” and I myself was, at first, not sure if he is a charlatan or the real deal.
If you look at his Instagram feeds, you’ll see him in huge mansions, having wads of cash, traveling to exotic locations, and driving fast cars.
His net worth is about $15 million in the previous years, but most of it comes from teaching new traders in their quest to learn how to trade rather than Sykes trading stocks himself. Like I told you earlier, this was a red flag to me in the beginning too.
Fast forward in 2020, his net worth reached $20 million. His trading profits reached about 57% in 2010 and this skyrocketed to 237% in 2016. Okay, so this changed my perspective as there seems to be value in his teachings.
The fact that he has not kept his success and growth confined to himself is also quite something to me. Many of his students do claim that there is value in the penny stock lessons he provides.
Today, he is sharing his more than two decades of blood, sweat, and tears in stock trading to more than 3,000 “students” living in over 70 countries. Budding traders can take advantage of Tim’s Alerts, where Tim himself is posting his trades in the comment section.
#5 Tim Sykes’ Rich Students
Throughout the years, Timothy Sykes has managed to make a few millionaire traders through his educational courses, including Pennystocking Silver membership and Tim’s Alerts.
He has actually trained people to the level where they have become millionaire traders with Tim Sykes’ education.
There is currently no other trader providing education publicly, that has their students reach this level of success. Below you can see him with his #1 student Tim Grittani on Fox News.
Below I’ll list the most successful students of Tim ranked by how much money they’ve made from trading:
#1 Tim Grittani, up $5,000,000+
he same guy from the above picture. As soon as he reached above 1million, they appeared in a number of news articles and TV programs.
Grittani has made over 5M$ since joining Tim Sykes’ chat rooms and Millionaire Challenge and learning his methods.
He has said that he owes his success to the teachings of Sykes, however, Grittani has now managed to develop his own methods and trades based on his personal strategy.
Grittani has also published a Tim Grittani DVD back in 2017, where he covers his main trading methods and strategies.
Tim is also an active member in his former teacher’s day trading chat room. I’ve almost always received an answer when I’ve asked something from Grittani.
In Tim Sykes’ website, he admits that some people are saying that his Millionaire Challenge doesn’t work.
But the fact that Tim Grittani and other millionaire students that succeeded him surpassed millions in profits are proof that the Pennystocking Silver program and Millionaire Challenge do work if the students have what it takes to study the materials provided to them to learn about the penny stock industry.
#2 Michael Goode, up $2,000,000+
Michael Goode is a cool, down to earth guy. He used to be a Tim Sykes’ #1 hater and decided to do a case study and prove that Tim Sykes is a snake-oil salesman.
In fact, he loudly mentioned what utter BS the Millionaire Challenge and strategies were.
So, how did it go? You can read about the full story from this article. Long story short – he ended up making money with Tim Sykes’ teachings. Within a year, he broke is $1 million profit mark.
You could guess it turned him from a hater to a supporter of Sykes’ program.
He now teaches in Timothy Sykes’ trading challenge and is also an active contributor to the trading chat rooms.
#3 Steven Dux, up $1,400,000+
Dux is a relatively new trader. He started in 2016 and flew past the million-dollar mark at the beginning of 2017.
That is super fast. He claims to owe his success to extensive studying of Tim Sykes’ methods.
Dux is originally from China and started trading while studying in an American university. He is rather active in Sykes’ chat rooms and he has recently launched his own DVD providing day trading education.
You can find it from his blog. It’s got some good reviews, although I haven’t personally bought it yet. I’m planning to and once I do, I will give out a full review.
#4 Marc Croock, up $900,000+
Marc is another one of Tim Sykes’ students that has managed to become successful.
He is yet to pass the million dollar mark, but given his steady results, he’ll end up there sooner or later.
Just like Grittani and Goode, he is also a moderator in Tim Sykes’ Sykes and an educator, publishing numerous videos with Tim Sykes on their trading strategies and specific trades that they made.
#6 The Education Options Timothy Sykes Provides
Sykes offers a tonne of material of him teaching his methods. He has tens of DVDs, trading videos, webinars, Pennystocking Silver membership plan, and live day trading chat rooms.
If I were to choose a DVD, I’d start off with “How to Make Millions“. It’s rather cheap and all the money that he makes from this particular dvd goes to charity.
Day Trading Chat Rooms
The main thing that Tim Sykes offers and from where he makes the most of his money is his chat room service.
What it is, is a day trading chat room, where Tim and all the other chat room members announce their stock picks and if they’re buying or selling.
The cheapest option – Tim Alerts, does just that. What you get to see are the stock picks and the relevant discussion that goes around it.
Various other traders (both pro-s and noobs alike) discuss the stocks in play and whether they are in or out. You get to ask questions publicly or privately to the person you want to chat to.
However, what’s missing from Tim’s Alerts chat room is that you don’t get the video lessons. So you don’t get to see the weekly video lessons that Tim puts out of the recent plays and the reasoning behind the trade executions.
Pennystocking Silver Plan
The second option – PennyStocking Silver, is the same chat room with weekly video lessons and you also get to access Tim’s archive of videos (there’s over 5’000 of them at this time).
In my opinion, the PennyStocking Silver is the best option to go for. What the pennystocking silver plan membership does is it teaches you how to fish in addition to just giving you the fish.
I like this option as you actually get to learn the ropes and see the logic behind the trade ideas.
The PennyStocking Silver gives you access to a comprehensive video lesson library to learn about the stock market, hedge fund, and more.
Once you’ve watched the video lessons from the PennyStocking Silver member platform, the patterns begin to repeat themselves and you start to come up with your own trade ideas. So you could ultimately become self-sufficient.
Tim’s Challenge (Millionaire Challenge)
This is the most serious, yet by far the most expensive option to learn from Tim. It costs around $5,000 to Sykes.
But what that money gets you is private consultation and trading education programs that are more like mentorship. Timothy Sykes puts the most amount of focus on the students of the challenge program.
This doesn’t mean that the other programs are not worth the money. I think they are better in terms of value for money, but the challenge program would increase the odds of success the most.
This is the most serious, yet by far the most expensive option to learn from Tim. It costs around $5,000 to Sykes .
But what that money gets you is private consultation and trading education program that is more like mentorship. He puts the most amount of focus to the students of the challenge program.
#5 Is Tim Sykes Worth Your Time and Money?
In terms of trading educators, I truly think that Sykes is currently the best option available. Provided that you’re not able to land a job in a prop trading firm 🙂
Your chances of true success are at least 50x better than if you were to start out on your own, in my honest opinion.
Trying to figure trading out by yourself is an expensive venture. You will likely lose a significant amount on market education. Most people blow it all and quit trying.
My resolution is that yes, Sykes is worth your time and money, but you really need to put in the work to give yourself a chance of success.
The good thing is that he provides a system that actually works. Your part is to truly learn and implement it.
#8 Feedback From Others
Tim has a rather substantial amount of Twitter followers. There seems to be a substantial amount of traders that are trying to learn from Tim.
I think that as he is the only guy who has publicly shown his students actually making a substantial amount of money with Grittani at $5M+, Goode at $2M+, etc.. people tend to want to try the strategies out by themselves.
Also, as Tim has one of the cheapest trading materials out there compared to other guys pushing trading education, people are more prone to pick it up.
Feedback from Twitter:
Here are some tweets from the last 2 days:
I have to warn you that I didn’t find negative reviews from Twitter, I’m sure there are plenty, though.
Feedback from you guys:
I would really appreciate it if you could drop me a comment below, in case you have any experience with Timothy Sykes.
Also if there is something else that you think I should cover in this review, please let me know.
All in all, I like his trading style, I think it’s super interesting and helps you develop an edge over other market participants that you can utilize for your own financial gain.
He is one of the few trading educators/mentors that I dare to recommend.
Once again: if you’re interested in learning his strategies, I believe the best option would be to join his Pennystocking Silver Plan chat room.
Good luck in your trading ventures, guys!
PS! Do you have personal experience with Sykes? Let us know how it went in the comments below.
PPS! If you’re interested in annual subscriptions, there is currently a significant discount being offered – check this for more info.
Timothy Sykes FAQ
Tim uses Centerpoint Securities, but as they require a $30,000 minimum, he has recommended people starting out with less money to start with either:
- TD Ameritrade
- Interactive Brokers
These are the current best options available for smaller accounts.
Timothy Sykes currently lives in Los Angeles, California. He is from Orange, Connecticut and has previously lived in Miami, Florida.
For this particular reason, Tim has co-developed a stock scanner called StockstoTrade. It’s a fast and lightweight screener that is built to find fast moving stocks.
It is also very good for finding penny stocks in particular, which a lot of other screeners don’t offer.
Tim Sykes uses Stockstotrade.com, a platform that he co-developed, to find stocks.
Tim’s Trading Challenge currently costs over $5,000 to get in. Also, it is advisable to have at least the same amount of money to start trading with.
Tim recommends to start with at least $1,000. However, the more you can afford to start with, the better are your chances of success.
This is mainly due to the amount of trading costs that you will occur. With a smaller account, fees will eat into your account balance and make it hard for you to return a profit.
Because most people on Wall Street are incentivised to take money from you. They are earning money on the people that they serve and thus are more interested in making money for themselves than to you.