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Started By
Message
Anyone here take Tim Sykes trading classes?
Posted on 6/12/19 at 5:36 pm
Posted on 6/12/19 at 5:36 pm
After watching one of his "infomercials" it appears his trading strategy is the following:
Trade penny stocks and "micro" stocks (<$5).
Go long on news inefficiencies (good news that the market is slow to react to).
Sell the dump (short) on pump and dump scams.
The stocks need to be cheap and not draw the attention or interest of large fund managers.
Max investment is 1% of average daily volume for liquidity reasons.
Need to be disciplined on your exit plan. Never exit with more than 1% loss. If it doesn't work out and you missed a big gain, oh well...move on don't dwell on it.
My question is how do you screen for these stocks? I have TD Ameritrade Sink or Swim application but I'm not terribly familiar with it.
What other criteria would you use to screen stocks for a quick (max 3 days) trade? Any other platforms besides Sink or Swim?
Trade penny stocks and "micro" stocks (<$5).
Go long on news inefficiencies (good news that the market is slow to react to).
Sell the dump (short) on pump and dump scams.
The stocks need to be cheap and not draw the attention or interest of large fund managers.
Max investment is 1% of average daily volume for liquidity reasons.
Need to be disciplined on your exit plan. Never exit with more than 1% loss. If it doesn't work out and you missed a big gain, oh well...move on don't dwell on it.
My question is how do you screen for these stocks? I have TD Ameritrade Sink or Swim application but I'm not terribly familiar with it.
What other criteria would you use to screen stocks for a quick (max 3 days) trade? Any other platforms besides Sink or Swim?
3
Posted on 6/12/19 at 6:32 pm to GumboPot
Any trading method worth it’s salt would be a well kept secret, there is more money in selling trading classes than actually executing the trades.
Posted on 6/12/19 at 7:42 pm to barry
A fool and his money..... something like that.
This post was edited on 6/12/19 at 9:18 pm
Posted on 6/12/19 at 9:16 pm to barry
quote:
there is more money in selling trading classes than actually executing the trades.
That was my exact thought when I saw his infomercial.
Posted on 6/12/19 at 11:41 pm to GumboPot
Always assumed this was similar to the crypto market..
Sykes gets a decent number of followers
Picks some goofy $0.30 stock with low volume -- draws a chart showing how it's juuuust about to break out
All of his lemmings buy it -- price goes up 10% and he sells, while you sit there holding a bag of worthless shite
He says: "see? it went up 10%.. i told you"
Sykes gets a decent number of followers
Picks some goofy $0.30 stock with low volume -- draws a chart showing how it's juuuust about to break out
All of his lemmings buy it -- price goes up 10% and he sells, while you sit there holding a bag of worthless shite
He says: "see? it went up 10%.. i told you"
Posted on 6/13/19 at 9:54 am to jmcwhrter
quote:
Always assumed this was similar to the crypto market..
Sykes gets a decent number of followers
Picks some goofy $0.30 stock with low volume -- draws a chart showing how it's juuuust about to break out
All of his lemmings buy it -- price goes up 10% and he sells, while you sit there holding a bag of worthless shite
He says: "see? it went up 10%.. i told you"
This is the only reason to join these pump and dump scammers. You'll have knowledge of the pennies that are being pumped and when the chart tops out you short. The main risk is entering the short position when the stock is not finished being pumped.
Posted on 6/13/19 at 10:32 am to GumboPot
just download the whole seminar off a torrent site dude.
also its judt tea leaf reading of technical patterns. hes a douche bag, huge one.
also its judt tea leaf reading of technical patterns. hes a douche bag, huge one.
Posted on 6/13/19 at 2:48 pm to oklahogjr
quote:
just download the whole seminar off a torrent site dude.
also its judt tea leaf reading of technical patterns. hes a douche bag, huge one.
Posted on 6/13/19 at 6:16 pm to GumboPot
Ha, I went to school with him. He's done well for himself.
Posted on 6/13/19 at 6:21 pm to GumboPot
quote:
This is the only reason to join these pump and dump scammers. You'll have knowledge of the pennies that are being pumped and when the chart tops out you short. The main risk is entering the short position when the stock is not finished being pumped.
For a while Sykes was focused solely on shorting penny stocks. I know this because he added me on Facebook and proceeded to spam the hell out of me until I deleted him. Seems super sketchy to me.
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