I'm a position trader and have experience with trading. I know some people think Tim is a scam artist and some adore him - not looking for emotional responses (and opinions based on pre-conceptions, positive or not). Looking for experiences: has anyone on this form actually invested some money in his courses etc. and made up their mind independently as to whether it is a useful investment for someone looking into that market? I am not asking whether you made money or not (though this would be some indication) or whether he fakes his reviews etc. Thanks
I bought a couple of his DVDs on Ebay from his ex-students, more out of curiosity. That said, he is a day trader. If you are day trading, there is value in his DVDs. That said, by itself, is not enough! The problem with Tim Sykes is he does not have any risk management in his trading! He shoots from the hip and sometimes, he hits it but, when he fails, he fails big! He used to run a hedge fund worth $10 million, most of the monies coming from a friend and investor. Now, he blew that hedge fund up because he did not control his losses, he was heavily invested in one company! All of that against sound risk management principles like never risk more than 2% in any trade. Not having a stop loss even a mental one is the other one! He is amusing to watch though, if you want to be entertained. He was on Wall Street Warriors. I think the videos are still on You Tube. Suggest you check out the Wall Street Warrior videos on You Tube and see him for yourself! It was surely entertaining!
Thanks - balanced views. I guess to hone it a bit more, not looking for stock tips, but whether in the penny stock world those methods may, with some refinement and experience, work.
I have no idea what's in Tim Sykes' courses, though I remember a decade ago he was shorting penny stocks, made some money for a few years before blowing up, and then moved on to selling education via the typical cheesy hard-selling carnival barker website. With that CV, there's virtually no chance that his courses contain anything of value that you can't find for free on the internet or in one of the classic trading books.
I signed up for his service. It is good, but I just do not want to trade low float, low priced stocks. And as mentioned, the shares he shorts you most likely will not be able to at your broker.
Tim Sykes does trade penny stocks as well as most newbie day traders. Be careful though. Chances are good they front run the trades they give out! Seems to be the standard practice! Day traders piling into a low float stock tend to drive it higher. The guru sell his shares and his students end up fighting to get out even or a tiny profit if they are lucky.
So how does he himself make money then? He claims he trades exactly as how and what he teaches so if you can't locate shares at your broker he shouldn't be either.
"so if you can't locate shares at your broker he shouldn't be either." you have a humorous philosophy of life Sykes has a reputation and is well connected to market makers and brokerage firms
That is interesting. So perhaps he should make available his "connection" to the market makers and brokerage firms to his students so everyone can benefit from his courses?