Is There Any Real Review of Tim Sykes Millionaire Challenge
Table of contents:
- Who is Timothy Sykes?
- What is Timothy Syke'southward 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
- Conclusions
Ok, lets showtime 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 set testify – 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 testify went alive, 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'south right. Timothy Sykes makes north of ten million a year from selling his educational products on trading, over 10 times more than than he makes with trading itself. This was a huge red flag for me when I discovered the fact.
Although if I come to retrieve of information technology, he was making about a 1000000 per year on boilerplate 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 equally long equally there is real value in the education that he provides , which is something that I'll get into in a chip.
But going back to how he fabricated his first million from his dorm room and by the age of 22 at that, information technology started when his parents gave him bar mitzvah gift money worth $12,415 with the thought that he would waste information technology and acquire the value of money.
Well, plot twist, the young Tim turned that bar mitzvah souvenir money into more than $200,000 in two years fourth dimension. He admitted skipping classes just to trade penny stocks and information technology paid off.
Past the fourth dimension he reached his senior years in higher, 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 manufacture was made through trading hyped upward penny stocks. That was when he discovered stock market place patterns that were " predictable 90% of the fourth dimension."
It'due south " pattern recognition, similar a pendulum," he added. Tim said that his early exposure to penny stock trading was nigh taking modest gains virtually every day and the gains merely added as days pass by.
#2 What is Timothy Sykes' strategy?
Really now, if information technology'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 information technology, you're just gambling.
Cut losses equally early equally possible
The first-day trading strategy (and the top rule) is to cut losses as early and rapidly every bit possible. This means that if a stock turns against y'all, exit immediately. Some people hold and promise that their penny stocks will rally.
Sometimes, it does increase but Sykes said he would rather move forwards 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 motion confronting him, it would get out quickly. This is likewise why liquidity is important to him. If the company is too illiquid, it isn't easy to leave easily.
Look at the stock charts and recognize patterns
Some other strategy he teaches his students who are a office of the highly coveted Millionaire Claiming, likewise known as Tim'south Trading Claiming, is to learn how to read stock charts and spot patterns from there.
I'll talk more almost the Millionaire Claiming in a bit.
Use technical analysis
Sykes shared that he has diverse students who are a part of the Millionaire Challenge and they accept already crossed the million thresholds. These are the ones who focused on technical analysis of a penny stock rather than fundamentals.
The Timothy Sykes Preparation programme teaches the value of determining penny stocks that are on the move, ownership these stocks only when the momentum kicks off, and selling them equally the momentum drops.
Does this mean primal assay is non helpful? Well, Sykes said it's more applicable for long-term investors. For short-term and new traders, technical analysis is amend.
Know all possibilities
When Sykes mentors new traders, he also teaches them the common strategies and how each works. Some of these possibilities include:
- Solar day trading (trading stocks inside the same 24-hour interval)
- Swing trading (same with day trading, just you hold the position for months, weeks, or days, depending on the merchandise)
- Position trading (can be used by master and new traders in a bull marketplace although information technology usually fails in a conduct market)
- Scalping (a trading manner that specializes in gaining from small-scale toll 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 y'all adopt, education will exist very important.
If you don't know a thing about a given stock, wouldn't it be difficult to know its potential toll action? he said.
Y'all might be surprised, though, that Tim'southward trading strategy reminds people that trading for profit is non a walk in the park. If it was, then every person would probably exist doing it. No matter how prepared you are, you won't get things right all the fourth dimension.
Merely one time you learn a variety of trading setups and styles, you lot tin can also hone in what makes sense to you and utilize the all-time trades where you have the almost consistency. Tim said the reason why he shares his stock trading techniques is so that others can learn from them.
In the stop, he wants his students, whether from the Pennystocking Silver plan or Millionaire Claiming, to go self-sufficient traders.
#3 Are his claims of success really true?
At that place are so many snake oil salesmen selling stuff online, that an average internet user such every bit myself has get super skeptical of anyone making claims.
All the same, in Tim Sykes' case, I do not believe that he would accept 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 bodily success is the fact that Tim Syke ranked equally a top trader on Covestor.com for 4 consecutive years. That is something that I don't recollect is fakeable.
At present Covestor was a site, where your trades were automatically transferred to the website stripping you from the selection to imitation your results.
This means that his Interactive Brokers account'southward results were direct uploaded to the website and anyone who wanted was able to re-create his trades for a management fee, which was paid to Timothy Sykes.
Covestor has now been acquired past Interactive Brokers. Simply the aforementioned 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 prototype of "The Wolf of Wall Street" and I myself was, at beginning, non certain if he is a charlatan or the real deal.
If you expect at his Instagram feeds, you'll see him in huge mansions, having wads of cash, traveling to exotic locations, and driving fast cars.
His cyberspace 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 crimson flag to me in the beginning too.
Fast frontward in 2020, his net worth reached $20 one thousand thousand. His trading profits reached about 57% in 2010 and this skyrocketed to 237% in 2016. Okay, so this changed my perspective as at that place seems to exist 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 practise claim that there is value in the penny stock lessons he provides.
Today, he is sharing his more than ii decades of blood, sweat, and tears in stock trading to more than 3,000 "students" living in over seventy countries. Budding traders can take advantage of Tim's Alerts, where Tim himself is posting his trades in the comment department.
He likewise shares his Pennystocking Silvery watch list every morning.
#five 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'southward Alerts.
He has actually trained people to the level where they have become millionaire traders with Tim Sykes' education.
In that location is currently no other trader providing education publicly, that has their students reach this level of success. Beneath you can see him with his #i student Tim Grittani on Trick News.
Below I'll listing the almost successful students of Tim ranked by how much money they've made from trading:
#1 Tim Grittani, up $five,000,000+
he same guy from the above picture. Every bit shortly as he reached in a higher place 1million, they appeared in a number of news articles and TV programs.
Grittani has made over 5M$ 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 likewise published a Tim Grittani DVD back in 2017, where he covers his main trading methods and strategies.
Tim is also an agile fellow 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 Silvery program and Millionaire Claiming do piece of work if the students take what it takes to written report the materials provided to them to acquire about the penny stock industry.
#2 Michael Goode, up $2,000,000+
Michael Goode is a cool, down to globe guy. He used to be a Tim Sykes' #one hater and decided to do a case written report and testify that Tim Sykes is a ophidian-oil salesman.
In fact, he loudly mentioned what utter BS the Millionaire Claiming and strategies were.
So, how did it go? You can read nigh the total story from this commodity . Long story short – he ended upward making money with Tim Sykes' teachings. Inside a yr, he broke is $1 1000000 turn a profit marking.
Yous could guess it turned him from a hater to a supporter of Sykes' program.
He now teaches in Timothy Sykes' trading claiming and is as well an active contributor to the trading chat rooms .
#3 Steven Dux, upwards $one,400,000+
Dux is a relatively new trader. He started in 2016 and flew past the one thousand thousand-dollar marking at the start 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' conversation rooms and he has recently launched his own DVD providing twenty-four hour period trading education.
You can find it from his blog . Information technology's got some good reviews, although I haven't personally bought it yet. I'grand planning to and one time I practice, I will give out a full review.
#4 Marc Croock, upwards $900,000+
Marc is another one of Tim Sykes' students that has managed to become successful.
He is even so to pass the one thousand thousand dollar mark, merely given his steady results, he'll end upwards there sooner or subsequently.
Just similar 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 fabricated.
NBB! The videos are really valuable, but you would need to go the more expensive subscription in lodge to admission them.
#6 The Education Options Timothy Sykes Provides
Sykes offers a tonne of textile of him teaching his methods. He has tens of DVDs , trading videos, webinars, Pennystocking Silver membership plan, and live mean solar day trading chat rooms.
The DVDs
If I were to choose a DVD, I'd start off with "How to Make Millions". It's rather inexpensive and all the coin that he makes from this particular dvd goes to charity.
Twenty-four hours Trading Conversation Rooms
The main affair that Tim Sykes offers and from where he makes the most of his money is his conversation room service.
What it is, is a twenty-four hour period trading conversation room, where Tim and all the other conversation room members announce their stock picks and if they're buying or selling.
TIM ALERTS
The cheapest option – Tim Alerts, does but that. What you get to see are the stock picks and the relevant word that goes effectually information technology.
Various other traders (both pro-south and noobs alike) discuss the stocks in play and whether they are in or out. You go to ask questions publicly or privately to the person yous desire to conversation to.
Nonetheless, what's missing from Tim's Alerts chat room is that y'all 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 Argent Plan
The second option – PennyStocking Silver, is the aforementioned chat room with weekly video lessons and you also get to access Tim's archive of videos (there'southward over 5'000 of them at this time).
In my stance, the PennyStocking Silver is the best selection 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 selection as y'all actually get to learn the ropes and see the logic behind the trade ideas.
The PennyStocking Silver gives you lot access to a comprehensive video lesson library to larn almost the stock market, hedge fund, and more.
One time y'all've watched the video lessons from the PennyStocking Silvery member platform, the patterns begin to repeat themselves and you start to come up up with your own trade ideas. So you could ultimately become self-sufficient.
Tim's Claiming (Millionaire Challenge)
This is the most serious, all the same past far the about expensive pick to larn from Tim. Information technology costs around $v,000 to Sykes .
But what that money gets y'all is private consultation and trading education programs that are more than like mentorship. Timothy Sykes puts the near amount of focus on the students of the claiming plan.
This doesn't hateful that the other programs are not worth the money. I think they are better in terms of value for money, but the challenge plan would increase the odds of success the most.
This is the most serious, yet by far the about expensive option to larn from Tim. Information technology costs around $5,000 to Sykes .
Only what that money gets you is private consultation and trading instruction plan that is more like mentorship. He puts the most amount of focus to the students of the claiming programme.
This doesn't mean that the other programs are non worth the coin. I call up they are better in terms of value for money, only the challenge program would increase the odds of success the most.
#5 Is Tim Sykes Worth Your Time and Money?
In terms of trading educators, I truly call back that Sykes is currently the all-time option available. Provided that you're not able to country a job in a prop trading business firm 🙂
Your chances of true success are at to the lowest degree 50x ameliorate than if you were to get-go out on your own, in my honest opinion.
Trying to figure trading out past yourself is an expensive venture. Yous will probable lose a pregnant amount on market pedagogy. Most people blow it all and quit trying.
My resolution is that yes, Sykes is worth your time and money, but y'all really need to put in the work to give yourself a chance of success.
The skilful matter is that he provides a organization that really works. Your role is to truly learn and implement information technology.
#eight 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 but 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 effort the strategies out by themselves.
Also, every bit Tim has i of the cheapest trading materials out there compared to other guys pushing trading instruction, people are more prone to option information technology upwards.
Feedback from Twitter:
Here are some tweets from the last 2 days:
I have to warn you that I didn't detect negative reviews from Twitter, I'm sure in that location are plenty, though.
Feedback from you guys:
I would really appreciate it if you could drop me a annotate below, in instance yous have any experience with Timothy Sykes.
Besides if there is something else that you think I should embrace in this review, delight allow me know.
Conclusions
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.
One time again: if yous're interested in learning his strategies, I believe the best option would be to join his Pennystocking Silvery Plan chat room.
Good luck in your trading ventures, guys!
PS! Do you have personal experience with Sykes? Let u.s. know how information technology 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.
Source: https://foxytrades.com/timothy-sykes-review/
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