Well Worth It
I first heard of Tim Sykes just over a year ago. I was a complete newbie scouring forums trying to find a way to make money off of pennystocks. Some banner ad of Tim's caught my eye on one of the forums, and I'm SO glad it did because I'd likely have been taken to the cleaners had I not discovered him.
Let's start by reviewing the alerts aspect of this service. If one year of Tim's trade alerts has taught me one thing, it's that you will very rarely be able to match his buy and sell prices by relying solely on the alerts. The prices simply move too fast. There's two reasons for this. The first reason which I would say is true in most of the cases is that he triggers his trades at key inflection points. Between getting his trade off at the perfect time, and then taking a minute or two to get the alert out, the price will have moved (in some cases substantially) and you're going to have to follow with a worse entry/exit if you're trying to mimic him trade for trade. The second reason that it's tough to match his prices is because he has a flood of followers that jump in immediately after his alert. You have to be FAST, and sometimes that's not even enough. I find this to be true more of longs than shorts, those who claim that TIm crashes stocks because of his followers are off base in my opinion, there simply aren't enough borrows for this to happen. To sum up my thoughts on alerts, if you're joining Tim's service simply to follow the alerts only, you won't have much success.
The second and much more important aspect of this service that I will cover is his educational materials. Tim now has over 500 video lessons. Are they a bit redundant? Yes. But you need the redundancy to drill the patterns into your head. I learned SO MUCH from his video lessons (I admit I haven't watched all of them, but I've seen a good number), and they've helped mold me into the trader I am today. But for the beginner, the video lessons that explain promotions, buying the breakout, picking the top, shorting into the collapse, it's all incredibly valuable information. Even if you don't get the patterns down, you can at least learn to recognize a promoted stock and not get duped by meaningless hype. Tim also includes video lessons of his failures, which are equally if not more valuable. He shows you why a trade idea failed, how he avoided a big loss by cutting losses quickly, or in some of his worst moments how he broke his rules and how he paid the price by suffering a large loss. Honestly, every topic is covered, there's so much to learn, if you devote your time to studying the lessons you won't even need TIm's trade alerts, you'll become self sufficient.
Finally, the chatroom offered as a part of this service can be a very valuable resource. While roughly 50% of the people in it are idiots who can barely string a coherent sentence together, there are some traders in there who give great alerts and really are willing to help out beginners looking for a little information. If you ignored every video lesson and every trade made by Tim, just going in the chatroom and absorbing everything the moderator Michael Goode has to say would greatly improve your trading as well. I've learned just as much from him as Tim, and I'm in chat every day looking to see what he's got to say.
I only have one suggestion for Tim, and that is that he verifies his trades at all brokers where it is possible. Let me be 100% clear here, I believe every trade Tim says he has made and I am in no way accusing him of faking anything. However, to preach complete transparency and then fail to verify his own trades at the appropriate brokers sends a bit of a mixed message. I'm sure eventually he will take this step, I would just like to see it happen sooner rather than later.
Let me conclude this review with my personal testimonial of what Tim has done for me. With 0 trading experience, I found Tim in February of 2011. I spent roughly eight months trading along with small position sizes and learning the strategy, finding myself down $1300ish as of October 2011. Then, things began to click, I began to understand the different strategies, and since October 2011 I have turned a $13,000 account into $25,000 with positions that are typically $4000 or smaller. Thank you Tim and Michael for all you have done to help me learn, I look forward to much continued success trading alongside you both!
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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