If you’re just getting started with online trading, Tim Sykes is probably one of the first traders you’ll come across. He’s been day trading for a long time and he’s very well known in the world of online trading. But is he the real deal or is his advice something to beware of? Let’s take a look.
Tim first got started trading in college with money he received for Bar Mitzvah gifts and managed to turn his $12,415 gift money into over $4 million. Not a bad return on his money, wouldn’t you agree? His main focus is penny stocks, but he has varied his investments over the years allowing him to profit in different markets.
He is definitely a marketer known for his lifestyle marketing, in other words, he sells a lifestyle and gets his followers hooked on the desire to live that lifestyle. He’s a self-made millionaire who flies private jets and drives a Lamborghini while travelling the world; of course people want to be like him. The real question though is whether or not the average person can create the kind of success he has by following his advice.
Tim made his fortune by shorting penny stocks; he was betting on them going down. By following the market, he saw that almost all of the penny stocks that surged from 100-1000% would return to low prices in a matter of days or weeks. He exposed penny stock frauds and scams that drove the stocks up and eventually caused them to crash back down. By learning this strategy, a trader can easily and quickly build a small account to 6 or 7 figures.
While this process is not easy to do and takes some focus and strategy to make it work, it has been successful for many traders including Tim Sykes.
One thing that Tim definitely has going for him is that he is very transparent in his trading, he doesn’t hold back. That’s probably because he’s been so successful that many people have a difficult time believing what he says. He tries to remain transparent so that his followers can trust what he says.
He’s also been successful in teaching his students his strategies, as he’s been able to create several millionaire students. However, with over 10,000 students coming through his chat rooms and trading courses with only a handful of millionaires created, that’s proof that his system isn’t easy or a guaranteed money maker for everyone. It takes a significant amount of drive and ambition to create the kind of success he has. Most of his students will never reach the 7-figure trading accounts they’re looking for. But, this is no different from any other trading rooms and Tim is the only one to have several millionaire students. That says something about the education and services he provides.
His emphasis is on education and even if you don’t reach the millionaire status, you will still learn quite a bit. Overall, his program is not a scam, but it is very difficult to achieve the kind of success he has. If you’re interested in learning about penny stocks and you’re motivated to work hard to grow your income, it’s definitely worth your time to follow him and hear more about his strategies.