Is Timothy Sykes a Scam Artist?

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You are probably reading this because you are interested in trading penny stocks, or interested in learning the secret to making millions of dollars in the stock market.

Let’s be honest here. If you want to make a lot of money fast, you aren’t going to do it by long term investing. That’s why so many people have turned to day trading, and specifically, day trading penny stocks.

If you have stumbled upon Timothy Sykes’ Instagram, Facebook, or any other outlet of Tim’s you have probably seen a decent amount of people throwing hate at him.

You have probably seen or heard accusations from people that have lost money in the stock attributing their misfortune to Tim. Well, I am here to tell you the truth about Timothy Sykes and answer the question, Is Timothy Sykes a Scam Artist?

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Background

Timothy Sykes is a famous Penny Stock Day Trader. His claim to fame is turning $12,415 into approximately $4.37 Million strictly via trading. This doesn’t take into account all of the other business outlets Tim has created throughout his years as a wealthy trader.

Tim first started trading penny stocks with his bar mitzvah money which accumulated to the $12,415 figure listed above. With this he developed his strategies initially by trading stocks in the long direction. Essentially buying a stock, holding over night, and selling into morning spikes. This is perhaps one of his most popular, and still very relevant and simple strategies.

After Tim really began to make a profit, he began to skip his college courses just so he could trade stocks. Eventually he grew his account to $2 Million and thought it would be a great idea to fire up his own hedge fund.

Unfortunately Timothy Sykes made a few bad moves trying to invest long term and ended up losing almost everything that multiple investors had dedicated to his hedge fund. Although he had become the leading short biased hedge fund according to Barclay for three years that dream soon ended.

Tim’s wild west attitude came from a highly regulated hedge fund world where he couldn’t explain his methods and process of day trading to the thousands of people writing him emails. This infuriated Tim and he has since founded the empire that he runs today.

Initially Tim Sykes wrote his own book called An American Hedge Fund that became a best-selling autobiography and continued on to write about his experiences in his blog.

Tim then founded Profit.ly, which is essentially a platform for anyone interested in trading penny stocks and learning Tim’s strategies. In addition, Profit.ly gave traders access to a community to share ideas and grow as traders, work on their own strategies, and learn from others who have succeeded and failed in the stock market.

Tim has also built an insane online stock screening platform called StocksToTrade which is one of the most valuable tools a Penny Stock Trader can invest in. He has since been featured on almost every major news outlet including CNN, Bloomberg, and CNBC just to name a few.

Now that you’ve heard all about Tim, I want to tell you my story, and really shed some light on whether Timothy Sykes is a scam artist like so many say he is.

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My Experience With Timothy Sykes

 

 

 

 

 

I had read every stock market related book I could find like Warren Buffet’s Essays and The Intelligent Investor by Benjamin Graham. As much as I enjoyed these reads and felt that I had learned a ton, I could quickly tell that unless I had $500k to drop right then and there, I was never going to grow my small account into millions of dollars investing this way.

I came to Tim’s website after reading all about him online. I was interested in the stock market and making money as fast as possible. I knew that long term investing wasn’t the way to go. I stumbled upon his YouTube video lessons and I watched every single one. I was hooked.

So I initially wanted to join Tim’s Challenge but didn’t have the money. I made it my goal to save up as much money as possible and open an ETrade account. When I opened my ETrade account I went all in with Tim and Profit.ly as well. I signed up for TimAlerts which is Tim’s lowest tier of chatroom access, daily watch lists, and gives access to hundreds of video lessons. Back then it was still $49 a month.

My first couple trades went terribly. I hadn’t studied enough, didn’t know what I was doing, didn’t listen to Tim, and I lost around $400 of my $2000 account. This happens to SO many people, and had I quit there I would have been one of the many people hating on Timothy Sykes for “making them lose money”, when really it’s their own fault for being unprepared.

I didn’t let this discourage me. Matter of fact I knew I needed to learn more about the stock market and really understand patterns including technical and fundamental analyses. I purchased Tim’s How To Make Millions DVD and binge watched the entire thing, twice.

I went back to Profit.ly at this point and back to the chatrooms. I was alerted on trades but now knew better than to chase things that I was not comfortable with. As Tim says, “trade like a retired trader that will only come back into the market for the perfect trade.” These words have stuck with me and are what have led to my current success trading Penny Stocks.

I’m not one of Timothy Sykes’ millionaire students, at least not yet, but I can tell you I have made money using his strategies. I grew my ETrade account from $2000, well I guess $1600 after the huge loss to $2873 in just 2 short months.

If this doesn’t seem like a lot to you, realize that’s a net growth of 43% in two months. The S&P 500, probably the best return on investment of the indexed funds available only gains on average 8-10% each year. I quadrupled this in 1/6th the time.

Unfortunately, I became unemployed, and cashed out my ETrade account to pay for my college tuition that quarter. While this was a tough decision, I had to do it in order to complete my education, judge as you will.

Since then, I have come back to Timothy Sykes’ teachings and started with a much smaller account. $1000 until I get back into the swing of things. My account value sits at $1587.76 after 3 months of being back and following Tim’s strategies.

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So Is Tim Scamming People?

You decide. You’ve heard my results and all I can do is be honest with you and share my own personal experiences. I am not one to hype things up and pretend like Tim has made me millions. If Tim had made me millions at this point I probably wouldn’t have joined Wealthy Affiliate and started my own online business.

However, with the revenue I receive from online endeavors I now have the proper money to trade in the stock market and I bet you know exactly who’s strategies I’m going to use to make my own millions. You got it, Timothy Sykes.

If you want to chat more about his strategies, feel free to make your own free Profit.ly account and contact me via my profile here. I highly encourage you to watch the video below which gives a great introduction into how to trade penny stocks for those who are just starting out.

There are a lot of so called “gurus” out there that will add you to mailing lists and convince you to sink copious amounts of money into their platforms, don’t do it. The only guru that is NOT scamming you is probably Timothy Sykes. Who knows, maybe Penny Stocks aren’t for you, but if that’s the case then maybe making money isn’t for you either.

I say sign up here.

Good Luck!

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