Tim Sykes

Discussion in 'Penny Stocks' started by ScooterBrandon, Nov 22, 2015.

  1. ScooterBrandon

    ScooterBrandon Senior Investor

    Joined:
    Jun 2015
    Posts:
    595
    Likes Received:
    2
    Anyone ever follow this guy?
    He is a rock star in the penny stock world, he has an interesting story which I will leave you all to read on your own.

    https://en.wikipedia.org/wiki/Timothy_Sykes

    I also just want to point out he sells tonnes of products to "help" us get rich off penny stocks. Just a friendly reminder that a lot of these types make their money from selling us on the idea of being good at trading, not necessarily trading itself.
     
  2. JR Ewing

    JR Ewing Super Moderator Staff Member

    Joined:
    Feb 2014
    Posts:
    4,950
    Likes Received:
    39
    Not familiar with him. I'll read up on him when I have more time.

    I've found that I do well overall on the very low-priced stocks when I use the same selection process I tend to use for other stocks I invest in - one caveat being that I buy less of the lower priced stocks.
     
  3. Onionman

    Onionman Senior Investor

    Joined:
    Dec 2014
    Posts:
    394
    Likes Received:
    1
    I read an article a while back in Bloomberg Businessweek. From memory, he didn't actually come across in an overly positive light. Very flashy, a walking exercise in personal branding, and if I'm not mistaken a few questionable business practices. I can't remember much more, aside from the fact that I'm sure there are plenty of people that would be willing to buy whatever products and seminars he has to sell.
     
  4. kgord

    kgord Senior Investor

    Joined:
    Aug 2015
    Posts:
    617
    Likes Received:
    1
    I have never heard of him, but at this point in time, low priced stocks would be all I could afford so I think that he is someone I should read up, on should I take the plunge into penny stocks. Penny stocks seem like they are more a crap shoot than many other low priced alternatives in the business world. I think it is important to look closely at them.
     
  5. Onionman

    Onionman Senior Investor

    Joined:
    Dec 2014
    Posts:
    394
    Likes Received:
    1
    You also really be thinking about what type of risk you are willing to take on because penny stocks can be extremely untransparent and high risk. But you can still look at blue chips with lower price denominations, which would be less risky and less of a trip to the casino. In other words, penny stocks can be a law unto themselves and aren't representative of stock market investing in general.
     
  6. JR Ewing

    JR Ewing Super Moderator Staff Member

    Joined:
    Feb 2014
    Posts:
    4,950
    Likes Received:
    39
    If you're a novice with limited money, I'd suggest either an index fund or buying 1-2 shares or so of at least 5-6 solid companies that trade with a current price tag north of $10. And add to that as much as possible.

    You might occasionally find the odd stock trading for less than $10 a share (or even less than $1-2 a share on occasion) that shoots up for brief periods from time to time, or that perhaps grows into a solid company. One thing those stocks tend to have in common is that a big institutional player or 2 buys into them. They are often going to be biotech stocks.
     
  7. ArielGold55

    ArielGold55 Member

    Joined:
    Aug 2015
    Posts:
    8
    Likes Received:
    0
    Hey.

    Tim Sykes is somebody I've looked into personally. He is definitely profiting from selling tutorials, and I've noticed he often lays on the "I'm here to help you" icing very thickly. But if you're serious about getting into trading, I think he's worth giving a try. He has a fair deal of free information floating around out there, that you can give a whirl before you give him a dime.
     
  8. Gazoo3000

    Gazoo3000 Active Member

    Joined:
    May 2016
    Posts:
    31
    Likes Received:
    0
    Timothy Sykes

    I have purchased his "Pennystocking DVD" ($400.00) and I watched the "Pennystocking Framwork" (On Ebay for $75.00).

    In all his training he reviews charts and explains if you bought on the upward trend or shorted on the downward trend you'd make money. He never explains how to scan for stocks or how to analyze stocks. He also neglects to mention anything about trailing stop/buys and how to set them up when timing your entry or exit. I paid close attention but learned very little.

    I then listened to an audio book by Alexander Edler "The New Trading For a Living" ($6.00 Audible.com). Elder is a psychiatrist and a futures trader who created the Triple Screen System in 1985. He gives specific scenarios, explaining, what amateurs do versus what professionals on Wall Street do. Elder talks about the chart, the left side of the chart and what you should do and when. He explain the Triple Screen System and Channel Investing and how to apply them.

    This is simply the best investment book I ever read/listened to. I found there is a study guide as well where the reader is presented with charts and has to figure out how to trade the equity. You then can look up the answer and see how you did. I can't wait to get my hands on it.

    Timothy Sykes is a waste of time. He has some followers who rely on him for daily texts of which stocks to buy. I got the impression that Sykes doesn't want people like me reading other books and trying to learn about investing from many perspectives.

    Gazoo

     
  9. admin

    admin Administrator Staff Member

    Joined:
    Feb 2014
    Posts:
    9,592
    Likes Received:
    7
    Thanks for the insight Gazoo, Good first post. Welcome to the forum :)
     
  10. Gazoo3000

    Gazoo3000 Active Member

    Joined:
    May 2016
    Posts:
    31
    Likes Received:
    0
    Now, Lending Club ($LC) is such a company. Bought yesterday at $4.30. I could have gotten it a week ago near $3.50.
     

Share This Page