There are those out there that claim that Tim Sykes is scamming his followers. They claim he’s a fraud, a fake, and his subscribers are blind sheep following his every alert. They’ll tweet things like this:
— Stocks Millionaire (@StocksMM) February 1, 2012
oh poor @timothysykes has now blocked me from commenting on his site… guess he doesn't want the truth exposed to his beloved sheep.
— SuperstarTrader (@SuperstarTrader) August 14, 2011
These people are what we refer to as trolls. They troll Twitter or Facebook or Youtube, and look for every opportunity to discredit and cut. They point to bad trades Tim has made and how followers lost money. Or that he pumps dead-end stocks with his alerts, and dumps the stock on his followers. Or better yet, that he’s not actually making trades himself, and that he merely “paper” trades.
And on top of all of that, Tim charges a hefty price for his stock alerts on Profit.ly. So, he’s both manipulative and phony, and charging us a premium for a front row seat to it all.
Now for the Truth
Tim Sykes does charge a hefty premium for his Pennystocking Silver service, (you can sign up for a two week trial) but he is far from manipulative and phony. There are really three key benefits that you get when you subscribe to Tim’s alerts.
1) Obviously you get alerts to all of Tim’s trades. This comes in a variety of formats. The first is via email, which isn’t necessarily the quickest, but for some may be the best means.
The second is via text message. I will tell you, I get about 30 text messages a day from Tim. Most of them are in regards to trades he makes, others are in regards to training, upcoming events, etc.
Lastly, is via the Profit.ly chatroom. This is the first place that Tim posts his trade alerts, and he posts them in real time. The moment he makes a trade, you’re made aware, and often you can get in at the same price point.
2) The next big benefit is the chatroom. There are literally hundreds of traders in the chatroom working together to help make trades. Other members will alert to swings happening, advice on buy and sell points, and report success in trading. It really is one of the biggest benefits that gets talked about very little. The chatroom is full of experienced traders all willing to give you input on your situation. You can tell them what stock you’re thinking of trading, and ask for others opinions on it.
3) You get access to all of Tim’s training videos. With almost 2,000 videos, that’s a lot to view. Tim does a video lesson on almost every trade that he makes, and records his screen in real time as he’s trading. He talks about his thoughts and opinions as he’s trading. Throughout these videos you learn his overall strategy. He will talk about his trading rules, his triggers, the things he looks for, really just everything that goes into his trades.
Doesn’t Tim Just Pump Up Stocks and Then Dump Them on Followers?
Anybody who says that Tim pumps and dumps stocks with his alerts clearly does not follow Tim on a daily basis. These people cherry pick one or two trades that he made that were low volume and say that Tim pumped and dumped the stocks. There’s a few things wrong with this claim.
1) Tim is actually a swing trader. He trades a lot of stocks, and many of them are actually not penny stocks. He looks for big swings in the market, and tries to get in before the momentum, and get out when he’s profitable. Some of his strategies for swing trading are nothing new. He plays a lot of earnings winners. He’ll also look at articles hyped on Seeking Alpha for stocks to trade. The goal is to find momentum before it happens.
2) One of Tim’s rules is to only trade a stock that has over 200k volume. He trades stocks that a lot of other traders are already trading. The last thing anybody wants is to be stuck in a stock that nobody is looking to buy.
3) Tim trades stocks that you’ve heard of. Its sort of funny to hear people say that Tim’s a pumper himself when he trades stocks like Facebook, which can have a volume over 200 million any given day.
The truth is, the people who follow Tim don’t trade every single one of his alerts. That’s not Tim’s goal. His goal is to train you to think for yourself, and eventually trade independently from his alerts. One day in the chatroom, and you’ll see just what I’m talking about. Folks in the chatroom throw out all sorts of stocks they’re trading, and most of the time, none of them are being traded by Tim.
Tim is a Phony Trader and Only Paper Trades Stocks
This is probably the dumbest thing I’ve heard about Tim. His website Profit.ly is dedicated to trader transparency. Anybody who has used Profit.ly knows that it contains a feature that allows users to import trades from their broker. This point just doesn’t make sense. Why would a guy who created a site dedicated to trader transparency and accountability, claim a lot of phony trades?
Beyond that, all you have to do is watch his videos to see his accounts. He mainly uses Interactive Brokers to trade, and E-Trade for charting. You can clearly see the funds in his account and know that this claim is false. His videos show that he indeed trades using real money.
Why Do People Claim Tim is a Scammer?
There could be a number of reasons. These people may actually believe that he really is a scammer. But they believe in ignorance. Anybody who has truly dedicated themselves to learning from Tim and watching his videos know that he’s legit. I have encountered very few people that have actually regretted the decision to sign up for Pennystocking Silver.
The other big reason I see here is a hidden motive. These haters likely have their own service that they’re trying to promote, and they have to do everything they can to discredit the competition. By labeling Tim Sykes as a scammer, these people are just looking to usurp Tim’s products with their own.
It could also be because people are nasty and think they know what they’re talking about. People are generally skeptical of anything they see promoted on the internet.
There’s a lot that can be said about Tim Sykes. He’s cocky. He loves attention. He throws Rolex watches into crowds. But Tim is not a scammer. His subscribers benefit from trading alongside of him. If you’re thinking of subscribing to Pennystocking Silver, listen to the real results that Tim’s followers have posted. Whether it’s getting alerts to Tim’s trades, or just learning his strategy and trading on your own, Tim Sykes is the real deal.
Sign up today for his free two week trial.
@timothysykes I smashed newl two days in a row, just off watching your lessons, went long then went short last day $5300ish in profit
— charles the profit (@charlestheproft) May 21, 2014
— michael heckert (@michaelheckert) May 12, 2014
— John Stone (@imakeprofits) May 11, 2014