Hi all, I trust you guys have a good Xmas a few days ago. During my 4 days family vacation to Kuala Lumpur, I was curious if anyone made money trading penny stocks. My initial impression of penny stocks (or stocks that have very little market capitalisation value) is that most inexperienced traders (like me when it comes to penny stocks) lose money and have their fingers burnt when trading them. So, out of curiosity I googled “Penny stock trader” and the search results led me to one very successful trader…Timothy Sykes. His website can be found through here.
Timothy Sykes claims to have successfully traded penny stocks for 20 years. He also claims to have turned a small $12,415 into a good $4,911,000. He became a self-made millionaire at the age of 21. It is apparent there is a master or expert in every kind of trade…even penny stocks. He has a blog that gives you the basics of how to select your own penny stock to profit (link is here). Timothy is now a full-time teacher teaching his strategy to over 6,000 students and encourages anyone with a willing and teachable heart to apply to work with him to work for financial independence. The online application to work with him can be found here.
What’s my opinion on his teaching? Actually, my current plan of passive income is to invest in S-REITs and reinvest the dividends that the properties churn out every quarter or semi-annually till retirement. Timothy Sykes’ website is an interesting read for me but his mentorship could be valuable for someone with different financial circumstances (maybe a more modest budget for trading?) as if I am not wrong, a minimum capital for trading penny stocks would be $500 – $1,000? The reason why I am writing this blog post is to let anyone who has a very modest capital budget for passive income to see if they are keen in this mode of financial prosperity. As a disclaimer, I have not tried out his coaching services, all investment have some form of risk, don’t trade or invest money that you can’t afford to lose. What I have done is read his blog and submitted my email to his free penny stock picks. I read that if you sign up for his mentorship, he will attempt to sell you some of his products (then again, I did not sign up and have no intention to but you could always reject his solicitation if you chose to be taught by him).
What are your views on Timothy Sykes? You can share your thoughts in the comments section below!
(Disclaimer: The reader bears all investment risk should he/she attempt to trade penny stocks. Ken will not be liable for any financial losses that the reader experiences in his/her course of trading if they are keen to. Never trade using money you can’t afford to lose. All the best.)