The trading world is teeming with unorthodox mavericks promising to line your pockets if only you follow their unique methodology. Some aspiring investors find their chutzpah appealing, others off-putting. Whatever the case, there is no shortage of such characters in the investment world.
From Penny Stocks to Philanthropy
Timothy Sykes, founder of Profit.ly and one of the most talked-about penny stock traders in the business, shares some of the hallmarks of the prototypical market disruptor. He’s a self-made man, a prodigy who parlayed his bar mitzvah money into a seven-figure fortune by mastering the market. During his senior year of college, when most students are busy applying for internships or grasping for the first rung of the ladder, he started his own hedge fund.
These days, Sykes passes on his wisdom to starry-eyed students via his online portal. He also documents his enviable lifestyle on Instagram while taking time to draw attention to charitable causes, such as China’s dog meat trade and the Yemen crisis. Speaking of which, his nonprofit Karmagawa recently announced a donation of $1 million to help children impacted by coronavirus and civil war in the Middle Eastern country. It’s already built over 70 schools in impoverished regions throughout the world, with Sykes pouring 100% of trading profits into the organization.
In short, Timothy Sykes is a guy who’s more than a little accustomed to spinning plates.
Shown Up by the Star Pupil
Penny stocks – equities trading under $5 per unit – are attractive to new traders due to their modest outlay and potential for generous returns. Of course, if it was a walk in the park everyone would be trading them OTC and making a killing. The truth is, they are inherently volatile and require careful judgment and consideration.
Which is why Sykes’ guidance is worth its weight in gold – and why Profit.ly has onboarded 150,000 traders and investors to date. While you have to do more than sign up to watch the money roll in, the self-taught trader has helped his students earn over $16 million, with subscribers gaining access to a daily stock watchlist, real-time email and push alerts, and regular video lessons (read this review for more info).
Sykes’ protege,Tim Grittani, absorbed the materials like a sponge, dared to dream and turned a modest $1,500 stake into a portfolio worth over $10 million.
“Looking back on the last decade, he blew all my expectations out of the water,” Sykes admits. “In just a few short years, his trading ability far surpassed my own.”
A Red-Hot Market
If you’ve been following the financial papers lately, you’ll appreciate that the market is red-hot right now. The S&P 500 is trading higher than at this point in August last year, and the NASDAQ is over 12% higher than its peak pre-market collapse. The latest research indicates that tens of thousands of investors who eschewed shares for the perceived safety of cash in the midst of March’s Covid-inspired market crash would’ve fared better if they’d had the courage of their convictions and stayed the course. As asset manager Vanguard’s Jean Young notes, “Time in the markets beats market timing, as selling after a big drop often means missing a big recovery.”
The prospect of experimenting with day-trading can be pretty daunting, but Timothy Sykes’ penny stocks trading program is a nice place to start. You can learn about the rules and strategies that have enabled Sykes and others to trade for a living, and you can avoid the rookie mistakes that will quickly burn through your starter capital. Refreshingly, Sykes does not promise stratospheric success: in every interview and video he stresses the importance of studying in order to capitalize on the opportunities presented by the market. If you digest the lessons and show an aptitude, you might not become the next Timothy Sykes, but you might turn trading into a profitable hobby.
