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daytrader2010

I have been following Timothy Sykes for a couple years, he is a great trader but I haven't been able to make any money with his trades because I am just not fast enough and I just don't have the ability to trade in and out buying the low and selling the high.

I need trades that give me more than 2 seconds to enter,
because my timing just plain sucks.
anyway I have noticed that over weeks or months most of the paid promotional stocks that are up over $1.00 do tend to go down.

So I have started looking for stocks that are up over $1.00 because of a paid physical mailer, then I short a small position and just wait a couple weeks (or months). if I am up I get out, if it goes against me then my plan is to short some more.

Just wondering if anyone else was doing anything similar to this?


I shorted AMEL at 1.01 back in June and now it's at .69 so that one is working out for me.

I also shorted ESPH at 1.20 but I had way too many shares for my account and it went to 1.70 and I got out at 1.65
but then I reshorted around 1.35 on the way back down and got out at .90
so I broke even on that one.
now it's trading for .82 so obviously I should have sold more at the top and covered now.

I have tried to research companies and figure out which ones are going up, half the time the stock of great companies drops in price.

This way I am looking for companies that are worthless but selling for a very high price, and it seems they are much more predictable in the way they drop.
 
yeah, I have to agree he is a nut, and a jerk too.

but you have to ask yourself how many guys do you know who can make over a million bucks trading stocks and are willing to explain to you exactly how they do it.

For me it's a pretty short list.
 
Mailers are a good way to build a watch list of pump & dump stocks. Just don't buy the dump.
What you do is wait until the price falls apart, which it always does, and then buy, wait for the next pump, and you do the dumping. Easy money in the market. Been doing it since 98.
Gave an example of how profitable during the longshot thread a couple years back. But maybe you'd rather sit in front of a screen all day hoping to pick off a tick here and there. Me, I'll take 100K shares at a nickel, wait a few weeks and dump it at a dime, over and over and over again. Candy from a baby. More money to be made in the OTCBB than the so-called "real market" every day of the week, and you don't need 10 monitors to do it. But I gotta' admit, those multi monitor systems do look cool.
 
There may be money in the pinks, but your strategy is full of holes.

Lets see a few real time entries and exits
 
Quote from daytrader2010:

he is a great trader but I haven't been able to make any money with his trades because.
More...

about the only things I agree with in this sentence is that Sykes is a "he" and that you "I haven't been able to make any money with his trades because" it is quite possible he does not either.

I am amazed you got sucked in by him
 
I have only tried my strategy 3 times,
the two above and I put in an order for CRWG to short at 1.35 the price had climbed to 1.33 at the time so I thought I would just enter a price 2 cents higher and make 2 more cents.

Well my order sat there for a month then I canceled it because 1.33 turned out to be the high for June.

now it's trading at 1.05 so I could have gone ahead and shorted at 1.33 that other 2 cents I was trying to make didn't really pay off.

trying to catch a second pump on a penny stock sounds like you need to have even more split second timing that Sykes has,

I don't mind watching the screen all day, but I would have almost no chance of getting in and out fast enough to have any chance to make something.

that's why I like the idea of shorting worthless companies like AMEL they reported that they had $500 in the bank. They have over $100 million market cap and their total assets are $500

with odds like that in my favor I don't have to worry so much about exactly where I buy and sell.

I am looking at it as more of a waiting game, just get in and wait for people to figure out the company is worthless then get out some weeks or months later at a profit.
 
Quote from JoePaterno:

about the only things I agree with in this sentence is that Sykes is a "he" and that you "I haven't been able to make any money with his trades because" it is quite possible he does not either.

I am amazed you got sucked in by him
More...

He claims superhuman results. Is he a baldfaced liar?
 
He posts all his trades in real time,
and after watching each trade for 2 years,
I have to say he is actually a great trader.

The problem is that it's extremely difficult for me to make much if any consistent money from his trades because of the speed of execution needed.

You need to be able to enter orders at 3 or 4 different brokers within a couple seconds. I just can't come close to doing this.

but I am really not that interested in Sykes, unless someone can show me how to make money with his trades given the handicap that I can only enter one order with a single broker in 15 or 20 seconds.

however, I do like his strategy of shorting companies that are up huge on paid promotions. I think this can give you a big trading edge.
 
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