Hey everyone, and welcome to another blog by My journey to the millions. Today's blog will be about Timothy Sykes and penny stocks. We will be talking about Tim's subscription to his penny stock alerts and about the risk penny stocks have.
Timothy Sykes is a professional stock trader, who is quite famous for his industry. He has a website,
www.profitly.com, which has his subscription as well as a few other traders you can subscribe to. His cost for her real time buying alerts are about 50 dollars a month. The problem is, even if you have this real time alert, by the time he post an alert, which normally takes about two minutes, the price action of his alert normally has made a huge move of 10-15 cents because he buys it right at the break out. For the people that chase this, and get in at this higher price, they hold more risk and are more likely to lose. He does not expect people to chase his alerts, he says they are their so you can learn the patterns he trades. Sometimes, you can manage to get in at the same price though and win big as well, and if you sell when he sells, you may also be missing out on a majority of the up trend. What I've learned from his trade alerts is to evaluate the price action myself instead of selling and buying when he does. He misses out on a lot of price action because of lack of patience which could be a great amount of profit for those who chase the stock getting in 10-15 cents after he gets in. I would not recommend chasing stocks, as I have lost by doing so. I do think his chat room though is worth it though to find stocks that are making big moves or news.
Tim also has video lessons that are hours long, but the cost is very high. I have not spent any money on these videos, because they sell in the multiple hundreds to almost a thousand. He always has them 50 percent off it would seem as a promotion they try to use to sell more, but they are still way to overpriced. One or perhaps multiple have all sales go straight to donation though, which is generous at least. These video lessons may be fairly priced or overpriced due to how small the teachings of penny stock investing is. If more people start producing what Timothy Sykes offers, perhaps the price of his products will go down due to competition. His long term news letter he has offers stocks that are held for weeks or months, this costs 200 roughly a month, which is quite pricey. I would hope that most of these picks are winners and higher amounts so costumers of this product can manage to profit after his $2400 yearly price.
Penny stocks have great potential to make a lot of money in a short amount of time, but it also works the other way around as well. Its easier to learn than becoming a doctor and also much more rewarding if you choose to stay on this path but the things I dislike about being a stock trader is that you go into the category of a specialist/professional rather then an investor or big business owner. There is less leverage then other investments in this, and higher taxes than those two categories. It still is a great opportunity though currently as we are in a stock bubble or highly active stock market, whichever you would like to call it. Just be careful to learning and start with a small amount. Don't be trading off emotion selling when it starts going down to put you in a lose to see it bottom out a few cents lower then your price you sold it at then shooting up way past your buying price. Good luck to all, thank you for reading.
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