CHATROOM

What Do Prop Traders Think Of PennyStocking?

June 9, 2009 at 11:30 am
by Timothy Sykes

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I got this comment the other day and thought I’d share:

tim im a prop trader, forgot to thank you on that UOMO short, i play with 300k every day, i feel somehwat responsible for the difficutly of borrowing UOMO becuase i shorted a good 10k and BTC at 0.4 for a hefty 7k profit in two days. ps i think your strategy is viable, but i make more money than you in a year!

get into this stuff kids because its definately the best for those with accounts under 100k.
-J.

Thanks J, I agree that PennyStocking is the best strategy for those with accounts under $100,000 (as I fully explain in my original PennyStocking instructional DVD package)…J goes on:

well anyways just came to say thanks for the 7k made on UOMO short of 10k shares, and that i just bought an american hedge fund! and hey i was a little offended when you talked about working in a degenerate prop trading office…its great trading alongside others who are like minded, im the 4th highest earner in my firm, the top earns 12 million/year whilst i make just about 1.5m pre tax…damn tax. im going to start a little penny stocking on the side whilst trading daily, im not going to be gay and take up all of the borrowable shares either.

Yah, I do think prop trading is for degenerates, but I use that term loosely because everybody who is into hardcore trading is slightly to hugely a degenerate gambler. You might be able to pull in six, seven, hell, even eight figures a year, but trading isn’t natural, it’s emotionally crippling and degenerative. Even moreso when you throw in prop firm leverage.

Don’t get me wrong, it’s totally okay to be a degenerate trader, as long as you can be a disciplined degenerate.

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  • PapaJoe

    LOL

    That was some funny shit. A guy claiming to make $1.5 million a day subscribing to Tim’s Penny Stock alerts to short 10K of a stock at $.40.

    “im not going to be gay and take up all of the borrowable shares either.”
    LMAO…..

    That was the biggest phony post I’ve read from you in awhile.

    I noticed you’re becoming a greedy SOB too. You have 1,000 subscribers paying you $30 a month but you feel the need to raise prices to $50. Remember that pigs get slaughtered in the end. Your trades have been great only because of stock manipulation from your 1,000 subscribers doing whatever you tell them to do. You’re getting a little stale as you repeat the same theme you have been for the last 18 months.

    You’re nothing more than a Spencer Pratt.

  • PapaJoe

    LOL

    That was some funny shit. A guy claiming to make $1.5 million a day subscribing to Tim’s Penny Stock alerts to short 10K of a stock at $.40.

    “im not going to be gay and take up all of the borrowable shares either.”
    LMAO…..

    That was the biggest phony post I’ve read from you in awhile.

    I noticed you’re becoming a greedy SOB too. You have 1,000 subscribers paying you $30 a month but you feel the need to raise prices to $50. Remember that pigs get slaughtered in the end. Your trades have been great only because of stock manipulation from your 1,000 subscribers doing whatever you tell them to do. You’re getting a little stale as you repeat the same theme you have been for the last 18 months.

    You’re nothing more than a Spencer Pratt.

  • goob

    So I wonder if ToS would let you short SWIM after their latest news

  • goob

    So I wonder if ToS would let you short SWIM after their latest news

  • Joseph

    That was 1.5 mil/year, not 1.5 mil a day. Learn to read before you start spewing crap about what people have to say. When you’re making that, you know it’s time to start some diversification, and pennystocking is a good way.

  • Joseph

    That was 1.5 mil/year, not 1.5 mil a day. Learn to read before you start spewing crap about what people have to say. When you’re making that, you know it’s time to start some diversification, and pennystocking is a good way.

  • PapaJoe

    $1.5 million a day was meant to be sarcastic, tough guy. Since that was the only knock you had on my post you must agree with the rest.

    Let me guess, you’re one of the sheep paying Sykes $30 a month.

    Learn to trade for yourself and stop being an ass kisser.

    Is a tattoo of your nose on Sykes butt cheeks?

    LOL

    Is the next post you write going to be George Soros giving you props for also using your strategy to diversify his $10 billion net worth.

  • PapaJoe

    $1.5 million a day was meant to be sarcastic, tough guy. Since that was the only knock you had on my post you must agree with the rest.

    Let me guess, you’re one of the sheep paying Sykes $30 a month.

    Learn to trade for yourself and stop being an ass kisser.

    Is a tattoo of your nose on Sykes butt cheeks?

    LOL

    Is the next post you write going to be George Soros giving you props for also using your strategy to diversify his $10 billion net worth.

  • Louie

    Now Now Fellas! calm down.

    Hey Joesph it would be great to hear about how you got into prop trading, you just playing arbitrage or doing something different?

    1.5 is a nice chunk, anyways im always open to expanding my financial horizons!

    Peace Out!

  • Louie

    Now Now Fellas! calm down.

    Hey Joesph it would be great to hear about how you got into prop trading, you just playing arbitrage or doing something different?

    1.5 is a nice chunk, anyways im always open to expanding my financial horizons!

    Peace Out!

  • PapaJoe

    Joseph, shouldn’t you be busy trading instead of posting on a penny stock board, especially during market hours.

    This new Sykes is a fraud pure and simple.

    I admire the Tim of the past that would make 50K a day off one his trades. Now he makes it off the backs off innocent guinea pigs in a get rich quick scheme since he’s too afraid to trade the way he use to.

  • PapaJoe

    Joseph, shouldn’t you be busy trading instead of posting on a penny stock board, especially during market hours.

    This new Sykes is a fraud pure and simple.

    I admire the Tim of the past that would make 50K a day off one his trades. Now he makes it off the backs off innocent guinea pigs in a get rich quick scheme since he’s too afraid to trade the way he use to.

  • PapaJoe

    If Tim was so secure about his trading stategies he’d send out his picks to his clients before he made the trade.

    He always posts the trade then sends out the alert giving more evidence to the fact he’s a fraud.

    Sykes makes a trade (Short XYZ at $.90) A few minutes later an alert to 1,000 clients goes out to short XYZ at $.90. You don’t need to be a magician to know what happens when 200K shares are shorted simultaneously.

    Sykes, why not give your alert out before you make the trade. Be fair, my friend, you’re making $50,000 a month from your customers. It’s the least you can do.

  • PapaJoe

    If Tim was so secure about his trading stategies he’d send out his picks to his clients before he made the trade.

    He always posts the trade then sends out the alert giving more evidence to the fact he’s a fraud.

    Sykes makes a trade (Short XYZ at $.90) A few minutes later an alert to 1,000 clients goes out to short XYZ at $.90. You don’t need to be a magician to know what happens when 200K shares are shorted simultaneously.

    Sykes, why not give your alert out before you make the trade. Be fair, my friend, you’re making $50,000 a month from your customers. It’s the least you can do.

  • http://test.timothysykes.com Timothy Sykes

    no papajoe, 99% of my subscribers dont know how to short, neither are there shares for everyone to short…thanks to ignorance like yours i’ll inevitably be forced to stop trading, then my strategy will work on its own too

  • http://test.timothysykes.com Timothy Sykes

    no papajoe, 99% of my subscribers dont know how to short, neither are there shares for everyone to short…thanks to ignorance like yours i’ll inevitably be forced to stop trading, then my strategy will work on its own too

  • propTrader

    Um, joseph? im the prop trader! and i can prove so, tell me what email you used

  • propTrader

    Um, joseph? im the prop trader! and i can prove so, tell me what email you used

  • propTrader

    and papajoe, you ignorant fool its 1.5 mil a year and thats onyl for the past three years it aint constant as the markets aint. and louie, i passed my series seven, blah blah and joined a prop firm. i used uber advanced technical analysis, so pennystocking is a good break for me as its so easy to use,

  • propTrader

    and papajoe, you ignorant fool its 1.5 mil a year and thats onyl for the past three years it aint constant as the markets aint. and louie, i passed my series seven, blah blah and joined a prop firm. i used uber advanced technical analysis, so pennystocking is a good break for me as its so easy to use,

  • propTrader

    and to those who question my abilities, heres one to watch- GORX if it cracks that 0.85 support its a good short

  • propTrader

    and to those who question my abilities, heres one to watch- GORX if it cracks that 0.85 support its a good short

  • Louie

    Hey Prop trader,

    Any hints/methods to study??

  • Louie

    Hey Prop trader,

    Any hints/methods to study??

  • propTrader

    let me tell you all something , and listen up, all you need to know is basic support and resistance rules, and once those lines are broken you take action, for example a stock breaks out of its resistance buy it, actually i would usually buy once the line has been broken by about 5% – then its a breakout. thats all you need to know aswell as CUT YOUR GOD DAMN LOSSES TO 8% MAX NO EXCEPTIONS. that info will make you money 80% of the time, i do this, but i also cover the more advanced other 20%, like fibonacci, elliot waves, stuff like that which to be honest most people dont need. buy on breakouts, short on break downs.

  • propTrader

    let me tell you all something , and listen up, all you need to know is basic support and resistance rules, and once those lines are broken you take action, for example a stock breaks out of its resistance buy it, actually i would usually buy once the line has been broken by about 5% – then its a breakout. thats all you need to know aswell as CUT YOUR GOD DAMN LOSSES TO 8% MAX NO EXCEPTIONS. that info will make you money 80% of the time, i do this, but i also cover the more advanced other 20%, like fibonacci, elliot waves, stuff like that which to be honest most people dont need. buy on breakouts, short on break downs.

  • mudhole

    Yo prop dogg. Thanks for the advice dew u got a blog? Tims gone malibu with his prices R U the new guru?

  • mudhole

    Yo prop dogg. Thanks for the advice dew u got a blog? Tims gone malibu with his prices R U the new guru?

  • Anonymous

    lol

  • Anonymous

    I only came here to say hi and to mention that there are other ways to make money than follow other people and that you don’t have to be a degenerate to trade. REAL prop traders are disciplined managers. All others are wannabe rich people, most of which fail in the long run. I agree, trading is emotionally crippling, but this only occurs if you don’t practice money management and risk analysis.

    Personally, I trade the foreign exchange. I’m a freshman in college so I only have 5k to use. However, by checking price, candle and fib patterns every four hours or so, they provide signals accurate up to 70%. MONEY MANAGEMENT and at least 3/1 reward/risk ratio is critical. “Take care of risk and the money will come”

    I hear lots of people asking about how to trade. So I will suggest a few ideas from what little experience I have:

    1) Understand the market, take basic econ classes, anything pertaining to series seven test is important. Understand your motives: What the heck are you trading for? (be brutally honest on this part). If your answer is I like money then you have a chance of getting what I call “gambling addiction”. If you want to trade, you have really gotta love the analysis, love the risk management.
    2) Learn about styles of trading: (know yourself) are you afraid of overnight risk? What are your time constraints? Now, choose your trading style: long term (years, months), swing (weeks), short (days), day (4 hour, 1 hour, 30 min ect)
    3) Understand basic fundamental and technical analysis, as well as more exotic methods: trading the news, trading price patterns, trading indicators. Before trading look up these terms: Fundamental analysis, technical analysis, technical indicators, support and resistance, candlestick patterns, Fibonacci replacements, Larry Pesavento, Elliot wave theory, MONEY MANGEMENT, Risk/Reward, Stop loss, Take profit, Slippage. Ultimately out what works for YOU, not someone else (via demo first of course). Trading someone else’s strategy is GAMBLING at the very least. More importantly, LEARN MONEY MANAGEMENT. Think “how much money can I lose?” not “how much money can I make?”
    4) Before you ever put a single penny in anything, use a demo. Some work for months on demos, years even. For me, I had a 6 month learning curve. How do you know when you are ready to use money? Ask yourself: “can I go to sleep tonight, can I go grab lunch, can I enjoy life without stressing about the money?” If yes (and don’t BS this part, arrogance and overconfidence will only lead to crashed accounts) then you may be ready.
    5) Find a broker, but invest risk capital (imagine that the money you put into your account is gone. That you don’t need it. Can you live comfortable w/o regrets if you lose it all?)
    6) Practice self-improvement. Keep a trading log ( time, reason for trade, what happened to the trade, how did you feel, you profit/loss), learn about yourself as you grow.

    The above methods are the most successful ways to trade: being a trader. If you want to waste your money on signals, go right ahead. And because it’s so dang important I’m going to mention it: ONCE THE REASON FOR WHY YOU PLACED THE TRADE IS VIOLATED, GET OUT. HOLD ON AND YOU’RE OFTEN A GONER.

    and with that GL to everyone!

  • wfan0

    lol

  • wfan0

    I only came here to say hi and to mention that there are other ways to make money than follow other people and that you don't have to be a degenerate to trade. REAL prop traders are disciplined managers. All others are wannabe rich people, most of which fail in the long run. I agree, trading is emotionally crippling, but this only occurs if you don't practice money management and risk analysis.

    Personally, I trade the foreign exchange. I'm a freshman in college so I only have 5k to use. However, by checking price, candle and fib patterns every four hours or so, they provide signals accurate up to 70%. MONEY MANAGEMENT and at least 3/1 reward/risk ratio is critical. “Take care of risk and the money will come”

    I hear lots of people asking about how to trade. So I will suggest a few ideas from what little experience I have:

    1) Understand the market, take basic econ classes, anything pertaining to series seven test is important. Understand your motives: What the heck are you trading for? (be brutally honest on this part). If your answer is I like money then you have a chance of getting what I call “gambling addiction”. If you want to trade, you have really gotta love the analysis, love the risk management.
    2) Learn about styles of trading: (know yourself) are you afraid of overnight risk? What are your time constraints? Now, choose your trading style: long term (years, months), swing (weeks), short (days), day (4 hour, 1 hour, 30 min ect)
    3) Understand basic fundamental and technical analysis, as well as more exotic methods: trading the news, trading price patterns, trading indicators. Before trading look up these terms: Fundamental analysis, technical analysis, technical indicators, support and resistance, candlestick patterns, Fibonacci replacements, Larry Pesavento, Elliot wave theory, MONEY MANGEMENT, Risk/Reward, Stop loss, Take profit, Slippage. Ultimately out what works for YOU, not someone else (via demo first of course). Trading someone else's strategy is GAMBLING at the very least. More importantly, LEARN MONEY MANAGEMENT. Think “how much money can I lose?” not “how much money can I make?”
    4) Before you ever put a single penny in anything, use a demo. Some work for months on demos, years even. For me, I had a 6 month learning curve. How do you know when you are ready to use money? Ask yourself: “can I go to sleep tonight, can I go grab lunch, can I enjoy life without stressing about the money?” If yes (and don't BS this part, arrogance and overconfidence will only lead to crashed accounts) then you may be ready.
    5) Find a broker, but invest risk capital (imagine that the money you put into your account is gone. That you don't need it. Can you live comfortable w/o regrets if you lose it all?)
    6) Practice self-improvement. Keep a trading log ( time, reason for trade, what happened to the trade, how did you feel, you profit/loss), learn about yourself as you grow.

    The above methods are the most successful ways to trade: being a trader. If you want to waste your money on signals, go right ahead. And because it's so dang important I'm going to mention it: ONCE THE REASON FOR WHY YOU PLACED THE TRADE IS VIOLATED, GET OUT. HOLD ON AND YOU'RE OFTEN A GONER.

    and with that GL to everyone!

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