Newbie to stocks here, I started listening to this douche bag Tim sykes, and...

Sir_Gallonhead
Sir_Gallonhead

newbie to stocks here, I started listening to this douche bag Tim sykes, and ive gotten pretty interested in these penny stocks, and im just curious whether this guy is for real?
I get it he is a douche,
he has a counter arguement to all his haters, and ppl saying penny stocks are too unpredictable and too risky.
he tends to ramble for ages in his tutorials, but as a newbie i did learn to understand a lot of the lingo and the very basics, but in the end he always says study hard, but study what?
he mentions not to try beat analysts or go that far into depth because you will kill yourself in research.
from what ive gathered so far is its listen to the news (not really studying) and follow patterns, but when he quotes any of his trades the patterns are unpredictable, moves 1%-5% for a solid week and then out of nowhere it spikes like 500%. so im not really sure what he means by study hard, anyone able to help me out? or is this guy just a joke and everyone is falling in for his trap?
sorry in advance if my post is all over the place

viagrandad
viagrandad

@Sir_Gallonhead
Stop following "gurus" and other self acclaimed money preachers.

Methnerd
Methnerd

@Sir_Gallonhead
Don't waste your time. The guy doesn't make his money from trading stock, he makes it from selling subscriptions to people like you.

Burnblaze
Burnblaze

@Methnerd
pfft yeah right, ill pay for subscriptions ha!

eGremlin
eGremlin

trading penny stocks like the one Sykes does is a shit way to trade...The people who follow Sykes are the 90% of people who fail trading. He preys on the impulsive, lazy quick-way to riches type.

Illusionz
Illusionz

I dm him on instagram. He stopped replying tho after I told him I've worked for binary option companies

Supergrass
Supergrass

Sykes has some great advice.

You might want to check out the book "Rich Dad Poor Dad" as well, you'll be on your way to riches in no time.

Dreamworx
Dreamworx

@Burnblaze
atta boy

Techpill
Techpill

@Supergrass
cheers user, had a quick look at what he has to offer, looks like another doorway to a shit load of study haha, will look into this more

LuckyDusty
LuckyDusty

@Sir_Gallonhead
Why is the pic a shoop?

PackManBrainlure
PackManBrainlure

@Sir_Gallonhead
So did he actually become a millionaire in three years through shorting penny stocks?

Because this is what his reputation rests on. If he didn't do this, the money he's made has been through subscriptions I.e. scamming, in which case there's no reason to listen to him.

SniperWish
SniperWish

@LuckyDusty
I can make a decent guess as to why.

New_Cliche
New_Cliche

There is money to be made by stock trading for sure. If you wan't to get into it, you can make/lose a lot of money. DO NOT get into penny stocks. Tim Sikes is an absolute genius at marketing, but barely makes any money from stocks these days.

You CAN get good by studying and using paper money to learn. If you want a decent platform for using fake money, Ameritrade and many other brokers offer great platforms.

"Gurus" like Sykes, Investors Underground, and BullsOnWallstreet, offer nothing for their paid subscriptions that can't be learned from studying the market for a week.

Illusionz
Illusionz

@Supergrass
Hi Tim

Dreamworx
Dreamworx

@New_Cliche
DO NOT get into penny stocks.

Why not?

Just because it's difficult doesn't mean it's impossible.

Lord_Tryzalot
Lord_Tryzalot

@Dreamworx
Why trade pennies where you have a 90% chance of failure when you could trade regular stocks and have only a 60% chance of failure

Soft_member
Soft_member

I said a hip a hop a hippie to the hippie to the hip hip hop you don't stop a rockin to the bang bang boogie said up jumped the boogie to the rhythm of the boogity beat.

cum2soon
cum2soon

@Lord_Tryzalot
Quick gains

If you think it's not worth the risk so be it, but other people evidently think it is, and some have had success with it.

Skullbone
Skullbone

@Dreamworx
Just don't waste your time in OTC markets or invest in a couple newsletters and follow their advice for some luls

The thing is the old strategy of shorting sub-pennies is dead, your commissions will be retarded because back in the day they used to have single price trades. YES you could in theory make stupid money shorting a 0.008 stock to 0.001 which DOES actually happen all the time still BUT your commissions are going to be insanely high like 600 up 600 down because brokers got wise and now have a added fee per share beyond 1000.

You can make big money trading real stocks from 1-10 dollars. Look at SGY, SPU, DELT, lots of real big moves in July and August. You need about 5000 bucks for best results but each of those could have been 2,3,5,7 thousand bucks in a trade.

Look into momentum scanners, and TradeIdeas.com to find these guys or just watch Yahoo Finance and take a chance at a early morning runner. If you get good at this you can be rich.

SniperWish
SniperWish

@Sir_Gallonhead
Ask yourself, why is he helping others and promoting himself if he is already so 'successful'?

The truth is luck was on this guys side and he likely shilled his penny stocks on the down low to make his money early on.

He knows that and to make a greater return than the market allows, he realized he needs to leverage his story into a profitable enterprise.

Even a good gambler suffers from gamblers ruin, and this guy was smart to recognize that and transition in his career.

You will not get rich following this guy and even if you do, it was not on his accord but because things went your way and you were determined. Your energy is better spent elsewhere.

StonedTime
StonedTime

@SniperWish
this. he made some good money a while ago. His edge is now gone, you cant short penny stocks without paying a shit load ni commissions so you better hope you're right 80%+ of the time.

now he is a mediocre trader that uses his previous winning to shill his courses.

plus you can find most of his courses for free online.

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