Should You Try the Timothy Sykes Millionaire Challenge?
Timothy Sykes really has done it all … but should you choose him as your trading mentor?
While still in college, Sykes turned $12,000 in bar mitzvah money into over $1.65 million before graduating from Tulane University. Not stopping there, he opened a hedge fund to continue his trading career and famously appeared on the reality TV show “Wall Street Warriors.”
You’ve gotta check out the show. It’s hilarious…
For nearly 20 years, Sykes has successfully navigated the penny stock world, netting over $5 million in trading profits while simultaneously creating consistently profitable day traders — one of whom has surpassed him in trading profits (more on that later).
Intrigued how one man could change the lives of so many people, I decided to investigate Sykes’s Trading Challenge and the stories of the successful students who followed his rules to make it to greener pastures.
What Is the Timothy Sykes Millionaire Challenge?
For two decades, Timothy Sykes has successfully traded penny stocks. Over that time, he’s gathered a plethora of information about how these small, often scammy companies work.
Tired of the slander and misinformation about penny stocks, Sykes opened Profit.ly to help new traders sift through the noise and separate the truly profitable traders from the scam artists on social media. Since its opening, Profit.ly has transformed into the educational hub Sykes and his team use to educate all levels of traders, helping them advance to the next level of their trading careers
The crown jewel of Sykes’s education platform is the Millionaire Challenge. As the name implies, Sykes is challenging individuals to become his next millionaire student. But he isn’t hiding the fact that like anything desirable in life, becoming successful at day trading isn’t an easy task.
However, there’s no better place to jump-start your learning curve than the Millionaire Challenge. In my opinion, the content students are exposed to in the Challenge is far more exhaustive than any other trading service around.
Millionaire Challenge Exclusives
So what makes the Trading Challenge so special? And why do you have to apply to the Challenge?
Sykes personally puts in hours of work every day with his Challenge students. As a result, he doesn’t want just anyone in the program. Only the most dedicated students are allowed into the group. This is a serious endeavor for Sykes, and he doesn’t want his time wasted by students who try to cut corners during the learning process.
Once in the Challenge, the following education materials are given to students:
- 6,100+ video lessons
- 800+ webinars from Sykes and his top Challenge students
- 3+ weekly LIVE webinars from Sykes and his team
- Access to the TimAlerts and TimChallenge Chatrooms
- 14 educational DVDs — currently around 300 hours of content
The vast amount of content may be overwhelming for some people, but every single second is worth watching. All of the DVDs, video lessons, and webinars are packed with useful information that will accelerate the learning process. As Sykes always says, he never had a mentor, so he’s trying to over-prepare his students for everything the market may throw at them.
How to Get The Most Out of The Millionaire Challenge
As a total beginner, it’s critical that you don’t jump the gun and start trading right away. Another famous Sykes saying is…
“Doctors have to go to school for eight years and then additional years of residency before becoming a licensed professional. Why should trading be any different?”
Newbies shouldn’t expect success on day one. Take your time, digest the information, and learn the basics. It doesn’t make much sense to learn advanced trading strategies when you don’t understand the basics of a candlestick chart.
Beating the Challenge
Sykes’s recommendation to beginners is to study as much as possible, wherever, whenever they can.
No one embodied this motto more than a 2017 Millionaire Challenge student named Roland Wolf. As Roland expresses in this video, he studied over 17 hours for nearly a full year before finding his groove. He greatly reduced time with friends and family to follow his dream and build up his trading skills. With this dedication, it shouldn’t be a surprise he recently passed $800,000 in trading profits.
Sykes’s top student, Tim Grittani, started with only $1,500 and managed to turn it into an impressive $8 million. Two years ago, he passed Sykes, his mentor, in trading profits and hasn’t stopped his studies. Every day works on improving his game, trying to upgrade his skills to the next level.
Although massively successful, Grittani took nearly a full year to become profitable, so don’t rush the process. Start slow, digest the knowledge from the video lessons before moving onto the live trading webinars. Always monitor the markets through the best penny stock software and be active in the chatroom.
This is your trading experience — you have to make the most out of it.
Is the Millionaire Challenge Worth it?
After reading all this information, you still might be on the fence about the Challenge. So is it worth it?
Well, that depends on you. Are you going to be one of those people who join and only puts in an hour or two a week? Are you looking for hot picks or trying to get rich quick?
If that sounds like you, then the Trading Challenge probably isn’t the right fit. It takes grit and determination to make it as a day trader. Nine out of 10 day traders will fail within their first year. Sure, Sykes’s Challenge will help boost your knowledge, but if you’re not willing to put in the work, day trading isn’t going to work.
Still not convinced? Take a look at Sykes’s three most recent six-figure students. All three are in their early twenties and put their lives on hold to work on their trading career. Dominic Mastromatteo, Jack Kellogg, and Kyle Williams each discuss their respective journey at length in a third-party podcast called Beyond the PDT. Listen to their journeys and their dedication away from any Sykes bias.
If Timothy Sykes is not your cup of tea, which is fine as his style is not for everybody, you may like the Power Gauge Report, by Marc Chaikin! It’s one of my FAVORITE stock investing newsletters & tools, you can read my full review of it here: Power Gauge Report Review
Results Don’t Lie
Don’t be like the people who sign up for a gym membership and then never show up but continue to pay the membership fee…
The Millionaire Challenge has been proven over and over again to work with different students from all walks of life. Thus, the logical conclusion is the Timothy Sykes Trading Challenge is your best bet to make it has a day trader.
But are you willing to put in the work? At the end of the day, only you can decide.[Please note that top students’ results aren’t typical. These traders have exceptional knowledge and skills that they’ve developed with time and dedication. Most traders lose money. Trading is risky. Do your due diligence and never risk more than you can afford.]