Penny Stocking Silver Review
I've been member of the Tim Sykes Millionaire Challenge for about 7 months, which includes a 1 year subscription to Penny Stocking Silver. This service is ran mostly by Tim Sykes himself with some good help from his 1st millionaire student, Michael Goode.
Trading Style
This newsletter is focused in the two main strategies of Tim Sykes: Buying breakouts and shorting overextended charts. Even though the setups might work for a trade of more than 1 day hold, Tim Sykes is pretty much in and out of a trade the same day, even just minutes after he took it. Tim preaches to trade safely, so he often exits trades as soon as they turn against him or they don't play out as he expected. While this is a good practice for a trader, it's not that good for a newsletter as subscribers often can't profit from such quick trades. In the end, as a subscriber, you should aim to learn his strategy rather than just mirror his trades.
Watchlists
The service has Watchlists emailed to you everday with around 5-9 stocks to watch. Many of the stocks stay on the watchlist day after day as long as they are still in play.
Education
This newsletter has, at the moment of this review, over 1900 video lessons, which include strategies, mistakes, trade reviews, watchlists explanations and more. One the features that I like the most is that Tim makes a video review, pretty much everyday about his open positions, his wins & losses and stocks that were in play that day, explaining how each trade played out and how you can profit from similar moves.
Chatroom
This service also includes a chatroom, where Tim Sykes will announce his trades and other members will also post what stocks they are watching. Offtopic chat is prohibited.
Summary:
- Trading Style: Daytrading, buying breakouts and shorting overextensions
- Watchlists: Daily
- Education: Over 1900 video lessons.
- Products offered: Plenty of DVD's which are sold separatedly
- Chatroom: Yes
- Recommended for: Daytraders
