Tim Sykes – Millionaires Challenge Review 2017

tim sykes millionaires challenge review 2015

Product name: Millionaires Challenge profitlyad-sykes300x250

Link: www.timothysykes.com

Owners: Timothy Sykes

Level of Experience Needed: None. Beneficial for advanced as well!

Price: $4,000 (Rounded figure. Doesn’t apply to monthly subscription)

Overall Rank: 7/10


 

Introduction

The Millionaires Challenge is a course you can sign up for to become one of the students of Timothy Sykes to learn how to trade penny stocks. Tim Sykes is a self made millionaire, that took $ 12,415 of his Bar Mitzvah money and turned it into roughly $1,650,000.

Pretty impressive? Yes it is when you consider that most penny stock traders are scam artists to rob people from their hard saved earnings (most famous example would be the Wolf of Wall Street – Jordan Belfort).

In order to become a member of the ‘Millionaires Challenge’ you have to subscribe and pass an interview.

After that you don’t need any prior knowledge in trading but a strong passion to succeed in order to make it through this course.

I am giving personal first hand experience, as I myself signed up for the course, passed the interview and was a student from 2014 – 2015.

I even met Tim Sykes personally in the annual Las Vegas convention, where he and other guest speakers held a 3 day seminar on trading techniques.

Tim Sykes Millionaire challenge review meeting
Tim Sykes and Me

I must admit I did not manage to work throughout the whole year and keep up with all the content and information the course provided me with.

I do however have an honest opinion about it and since I was a student myself I can give my complete review with first hand experience.

Please note that I had very little knowledge about the stock market and even less about trading when I signed up to the course.

I always had a strong passion however to make money through investments and trading and the course was advertised in a way that even someone with no knowledge at all could succeed.


 

Who Is The Millionaires Challenge For?

Like most courses this course is for absolutely everyone. I think beginners have some advantages of being trained completely form scratch and learn the strategy Tim uses on a daily basis.

Experienced traders will use old habits which will intervene with what Tim teaches and therefore beginners have a slight advantage.

But on the other hand experienced traders can cut the learning curve and just have to unlearn the habits they typically use when they trade.

Having said that, there is tons of material and it is A LOT of stuff to dig through.

More advanced traders have the knowledge of knowing the basics and don’t need to get familiar with certain brokers and even the basic trading terms, so they can skim through most of the videos and texts.

However they might have a handicap because their trading habits will come into play when they shouldn’t.

If you want to succeed in this course and with this niche, you must be a hard worker. And by hard I mean study at least 2 hours a day on a constant basis (if not more).

Personally I did around 2 hours a day after work and up to 6 hours on the weekends to dig through a DVD a week.

One of his DVD’s easily lasts around 6 hours.

They aren’t exiting to watch, as you will mostly find him talking in front of a screen showing graphs. Yes this goes on for 6 hours! And if that hasn’t scared you off, then Stack of booksmake sure you are flexible enough to juggle a job and joining the stock market hours and if you’re lucky you’ll even get to see him trade live on one of the webinars in between.

I don’t know how many hours of video lessons there are at the moment, as the library keeps growing.

But when I was a student there must have been around 130 hours at least.

Tim Sykes adds around one to two educational videos a day which vary between 5-15 minutes.

If you wish to join this, please be aware that you have to be consistent and make this part of your life.

There’s no slacking or shortcut in his course and if you know anything about Tim, you know that he’s a ridiculously hard worker.

Honestly I don’t know how he manages it, but it definitely shows by the amount of news and information you get from him personally.

He also makes it clear you shouldn’t just follow his trades through his alerts because you will lose by doing so. Meaning there’s no way around being proactive!


 

tim alerts

What Exactly Is The Millionaires Challenge?

So as I explained above it is primarily a course you join in order to learn how to trade penny stocks, profitably.

You get a hand full of content on a constant basis so you better be prepared for overload of material. Here’s some of the things I had to battle with:

  • Chat room access (both challenge room and normal subscribers)
  • SMS alerts
  • Newsletters
  • Twitter alerts
  • Daily new video lessons
  • DVD’s + Manuals
  • Online support
  • Weekly webinars

I highly recommend to create a brand new email for all of that because it will get messy very quickly. Take it from a highly organized guy!

The webinars are organized and held by Tim himself and two of his millionaire students, Michael Goode and Tim Grittani.

I didn’t manage to join many of them as I was mostly in bed by the time they we’re held or at work! (due to the time difference).

 

 

The ones I did join felt exciting but also a bit disorganized as everyone’s following the stock market, people are typing out various tickers (abbreviations, sort to speak, for certain stocks) to follow and possibly trade.

As you start out it’s good to see and follow what other people deem worthy of trading. But then again why would you follow fellow students who are just starting out themselves?

You easily get distracted and personally I advise just to listen to Tim or advanced students.

Definitely ignore all the ticker messages once you start trading yourself or you will lose money.

On top of that you are watching the teachers moves, listening to his voice while typing out questions and hoping he’ll answer yours amongst hundreds of other questions.

A lot of the times I heard them answer questions with, “go study the material”.

Fair enough that you should watch more of the material provided and learn it but if you’re paying several thousands for a course I guess they could answer the question as well as it’s not easy to find it with thousands of videos scattered around.

That was one of the main annoying points in the webinar.


 

Trainings And Tools

So when I signed up for the course, a week later, I got my first bit of material, which was:

  1. Most of his DVD’s and a stack of manuals which were basically just the powerpoint slides, printed out for each DVD (slightly unnecessary in my opinion).
  2. Access to the video library on www.profit.ly
  3. A starters guide on which videos to watch first
  4. Access to the Facebook group (which I never got accepted in and they dropped the group by now as it was quite unnecessary)
  5. Assigned Homework to do (which never happened and I think they also dropped sadly. I think it would have helped a lot)
  6. 1 year long subscription to Silver Alerts
  7. Lifetime cheaper subscriptions to any purchases made after the course
  8. Support from the entire team if you have any questions
  9. Support from Tim/Michael/Grittani for specific trading questions
  10. Student only chat room as well as normal subscribers chat room
  11. Discount for the Vegas convention
  12. And many more smaller bonuses I can’t remember

Now the list doesn’t sound impressive but it is really overwhelming at first. Personally I imagined the whole course to be a lot better organized and more structured, like the Wealthy Affiliate community.

The sign up fee is all year round so you just join where the others left off. This really put me off at first but I guess you need to study on your own pace and catch up.

I expected to sign up and then start at a certain month with everyone who passed the millionaire registration starting from zero.

Then together we would get the most important videos and personal help until we are ready to trade within 5-6 months with an advised amount of money, homework assignments etc.

I was wrong, it was just all on me basically.

Imagine wanting to join a mixed martial arts class and having to fight with a black belt on your first day. That’s almost how it felt like.

I did however love the fact that you could write the Teachers personally and they would give you a detailed answer as soon as possible.

Michael Goode gave me incredibly detailed answers whenever I would ask him something over mail which I found really helpful.

And although the webinars were packed with people just complimenting Tim and trying to befriend him, (which really annoyed me as well since were all here to learn how to make money, not to make friends with celebrities), he did try and go through every question.

The support team on the other hand was very slow and slacking a bit. He put his dad as one of the people to reply to you and I just don’t think that man was cut out for the job.

A lot of times my questions or requests were ignored and I had to send several emails. Little tip, try to copy people in your requests that helped you during the sign up procedure as they usually forward the email to someone else in charge.


Vegas Convention

One of the perks of joining the challenge for me was that they mentioned everyone would meet up at the Vegas convention.

I was really excited to meet the other students and trade live with the teachers. In my interview I was even told that if I just copy the trades I would already be profitable within 8 months or so.

This was pretty much a false statement as you can’t copy trades because you’ll always be a second later than the teacher and end up losing money.

Not only is that very unfair to gullible students like myself, but also rather sneaky! Of course you’re more willing to join the course if you see yourself becoming a self employed trader making thousands by the 8th month.

In a way it gave me an extra boost too study so hard but at the same time he made it sound like a copy paste type of thing which it definitely isn’t!

Anyway… The Vegas convention was great, but simply because I got to go to Vegas!

The seminars were really nothing new. I honestly assume that most people that joined, didn’t go through much of the material because I did and I found that nothing new was said.

I could have easily stayed home and not miss anything.

Everything ALL THE SPEAKERS said and mentioned, could be found in the material you already own by being a millionaire student!

The only thing I was really excited about, was to see Tim create a watchlist from scratch.

(A watchlists is basically the list Tim makes the night before or in the morning, that tells him which stocks to trade. It is pretty much the only thing you really need to master. If you can see which stocks are going to rise or drop, you’re good to go and make money!)

I even approached Tim personally after the second seminar and asked him if we could go through his process together at least once to see his thought process live.

For me that is the key to succeeding and landing successful trades. He told me that he would but on that day the main focus was just one ticker and no he didn’t show us how and why he chose that one ticker!

And guess what… the next day it was finally time. The stock market opened and he just started trading…

No preparation on his watch list (which he created the night before in his hotel room) and even while standing in front of me trading on a big screen it was impossible to replicate.

Although he made a few thousand with that trade I wasn’t impressed. He’s done it several times before without me having my hopes high to learn it first hand.

I don’t want to sound super negative but if you want my opinion, don’t join the Vegas convention.

Although he had a lot of interesting guest speakers I didn’t learn anything his course didn’t already teach.

And because we had to wake up incredibly early each day (around 4-5am) I couldn’t even fully enjoy Vegas.

What was also a bit odd for me was that he was giving out $100 bills to people that would ask great questions or do odd things.

For instance he gave everyone in the front row $100 and suddenly a few people from the back ran to the front.

To me that’s not teaching or learning anything it’s lowering and demeaning yourself for a quick $100.

Also he gave about $800 if not more to Michael Goode, who’s already a millionaire…

The one positive thing about the whole trip however was this:

It inspired me to work hard on my dreams! No matter how many motivational videos you watch or stories you read, when you meet several successful people in one room it blows you away.

Being able to throw away $10,000 on an audience simply for asking good question or running to the front of a classroom is pretty cool in a way.

Plus if you’re really into trading and you see several people from all backgrounds (some that used to be broke and living in their cars which are now making over $300k per trade!) making it then it inspires you.

But again, don’t join the Vegas convention. It is such a waste of money and to be honest the money I spent on the trip alone, could easily be used for trading!


Pros vs. Cons

PROS

  • Proven strategy to learn how to trade profitably
  • Tons of material to go through and continuously updated
  • Incredible Q and A from millionaire traders
  • Vegas convention get together (extra fee of around $300 and that’s just the ticket not the plane, hotel, food etc.)
  • Life long capture of smaller fees for additional subscription
  • Webinars (which are recorded in case you miss them)
  • Video lessons
  • Trade alerts
  • Chances to win some of his give away prizes (trip to exotic locations and occasional prizes)

Stock market

CONS

  • Unstructured course
  • Super expensive to join
  • Overwhelming amount of content
  • Constant bombarding of news (blog posts, tweets, alerts etc.)
  • Some false information due to outdated methods
  • Extremely hard to manage if you have a job
  • Slow response from support team
  • And again no structure or proper guide!

 

Final Verdict

If you want to become a successful trader, I don’t think there’s a better option than this course, Although I would recommend you sign up for the Silver Subscription (click here) for $99.95/ month instead.

It offers pretty much all the same features and although I’m not sure you receive any of the DVD’s, you can always buy them as well.

I don’t think it’s necessary to have more than 2 of them either.

Even if I respect Tim Sykes and his proven method, I feel that the millionaires challenge is a bit of a rip off.

Grittani (one of his millionaire students) didn’t make it through the millionaire challenge for instance but with the silver subscription.

Fair enough it offers a lot of bonuses and advantages, but it is way too overpriced for what you get and again the Silver Subscription is pretty much the same thing.

However, it is hard to argue that a course that teaches you exactly how you could become a millionaire is overpriced.

In order to succeed with this method, you need nerves of steel and it won’t be a passive income method. I did learn a lot through his course and I am glad I did.

I also learned that this isn’t for me but I learned that through a high cost.

What you may also want to consider is that once you join the course, you still have to put up some money to start trading.

If you start with let’s say $1,000 it will be very hard to make any significant amounts at first. I started implementing his strategy after about 5 months of studying.

And although I didn’t short anything (because that requires you to open a margin account where you basically borrow money and you can make a much higher loss) I made a few hundred bucks here and there.

Once I made a slightly bigger loss it kind of scared me off, how quick money just goes. Within a few seconds I was $300 poorer. 

Yes he teaches you to cut losses quickly (number 1 rule) but no matter how quick that loss can still be significant, especially when you’re just starting out and just paid $4k for a course.

If you still have a doubt that this might be a scam, let me reassure you that you can watch every single trade Tim Sykes has made in his life, as he is 100% transparent and shows every trade in hindsight and explains why he did it.

So to conclude, I give the course a 7 out of 10 due to the high fees and mainly messy teaching methods.

If I could give Tim one quote to improve his teaching methods, I would say “less is more”.

If you wish to read my preferred course/ program to gain a passive income, please feel free to read my review here!

You’ll find that this course is highly structured, easy to follow, the support is amazing and it teaches you how to earn passive income and not become an addicted trader 🙂

Finally you won’t pay near as much as you can start with a free account to see what it’s like.

Thanks for reading, again please leave comments and let me know what you think! If you want more information about this course feel free to ask I may have left things out.

Esteban

36 Comments

  1. Hey Estaban

    Truly thorough review of Tim Skyes Millionaire Challenge. I can tell that you had first hand experience.

    It also seems like you had a fair amount of frustration going through the course? How does the course content and support compare to the Wealthy Affiliate that you recommend?

    I personally couldn’t cope with what you describe as endless content to catch up and having to keep up with webinars that seem way to advanced for beginners if they are telling you to refer to training instead of answering your questions.

    That being said, I can understand your rating, I highly doubt that everyone is cut out for the stress levels of trading.

    Off to read your review, but looking forward to your feedback on the comparison to Wealthy Affiliates.

    Cheers,
    Marc

    • Hey Marc,
      At first when I went through the 6 hour long dvd’s digging through the information I felt motivated as never before. I ran home every night from work to study and study and study. One main issue is that you can only study theory so much and then you get it, but applying is a whole different game. Once you kind of feel confident enough, you have to find the right broker to trade with. Most brokers ask for something around $2000-$5000 to open your account.
      So that’s the next issue. Not only have you just paid the fee of $4000 to join the course you now have to pay another few grands to participate in the game. Fair enough there are other brokers for a lot cheaper but there are always pro’s and con’s.
      The main frustration I had was the terribly organized library of study material. It basically just fills up with new videos every day. There isn’t any (or barely any) reading material just videos. On the other hand I don’t know how else I would organize it because maybe most of it has to be shown in videos. But the thousands of videos are just too much to go through. I don’t even think you need to see that many. It is a genuine course like I said and you can get rich through it. But unlike WA where you are taught step by step from beginning to the end, stressfree, you will be stuck behind the Laptop or most likely PC with several monitors, at strict hours to be active during the market hours.
      I mean if you have a passion for trading, go ahead. If you want a relaxed lifestyle and a more passionate job, I definitely recommend WA.
      Hope this clears things up a little.
      Esteban

  2. Thanks for posting this! Really wanted to find out more information about this I would have to use a loan just to afford the 4,000 and than you mentioned a couple more thousands just to trade, really digging and searching more out before I want to do this, thanks for all you’re feedback, Question do you think it’s worth it taking out a loan for this program?

    • Hey Genesis,

      I have to admit, I would not pay for the millionaire course. If you want to learn the methods Tim Sykes teaches, you’re better off subscribing to the pennystock silver membership. It gives you the exact same things except for the DVD’s (which are kind of pointless except for the pennystocking part one and part deux).
      Additionally you’ll get the same chatroom accesses and all the replays as well. There really isn’t anything special in the millionaire course that helps you achieve success any more. If anything it makes things more stressful because you’re constantly trying to catch up.
      I wouldn’t get a loan to begin with because you don’t want to borrow money to risk losing it. You should use money you have and therefore silver subscription makes even more sense. Dig through the material you have with that subscription for at least a few months. Once you feel comfortable you can open an account with $500 or maybe $1500.
      Whatever you feel comfortable with. You may only make a few bucks with each trade but you’ll see that the successful students started off that way and built their wealth slowly.
      Getting a loan is definitely not the right approach especially if you’re planning on shorting (since that is pretty much borrowing money again).
      I hope this answer helps you make a decision 🙂

  3. I just conducted my first round interview and had the three necessities of access given to me. The first is being available for Wednesday/Thursday webinars. Since I’m on the west coast I really would have to incorporate this during my working hours which is near impossible. Second I was told I needed a minimum of $2k to open an investment account. Lastly, the fee.. It’s shocking how you said the fee was $4k less than a year ago but now I’m told it’s $6500!! That’s a lot of money! The funny thing is the person interviewing me said that most people put this fee on a credit card or two and pay it back as they make money. Wrong!! You never want to set your students or clients up for failure as this can create buyers remorse. I’m so glad I read your review! I was talking to my wife and she said that this challenge is basically marketing done well. I think I’ll give the silver subscription a go… The other off setting thing for me was the Vegas convention. Another way to get more money. I’ve joined various mlm’s and they all hyped up their annual convention. Only to be bored to death in an enormous room with thousands of getting rich hopefuls…

    • Thanks for your long comment! Let me just go through it bit by bit:
      Trying to catch webinars during working hours is near impossible. For me it was at 11pm at night so it was already pretty impossible to attend them and be fresh for work the next morning but I managed every so often. The only solution is to watch the replay.
      But when you have tons of other videos you want to dig through it’s hard to catch the replays. The minimum depends on your broker to be honest. There was one which many people didn’t like but was actually quite good for shorting stocks and their minimum was $500. However the negative feedback really put me off and it’s very hard to grow your account with $500 because you’ll make a few bucks per trade. However it’s definitely not impossible.
      I can’t believe they raised the fee now! I have to update my review but already the 4k was a shock to me! I also really don’t lke that they suggested to put it on credit card. That’s not just really mean it’s also the first rule you break when it comes to being wealthy!
      You should avoid using the credit card on a normal basis already let alone purchasing things you can’t afford. Do you remember who you spoke to because that’s honestly the worst advice and really greedy from their side!
      I would strongly suggest you try out the silver subscription. Like my review says, you have pretty much the exact same features minus the dvd’s which you can always purchase in hindsight on discount days.
      The course works that’s for sure but the millionaire challenge isn’t worth it in my opinion. Especially now that they raised the fee (still can’t believe it).
      The Vegas convention was a pure waste of time and I was so sold on the idea because the reviews were all so positive from the previous ones but really I could have saved a lot of money and learnt a lot of the material by staying at home and going through his videos instead. Maybe even have made some money.
      Davonte, thanks for your comment and glad you read my review and didn’t pay that ridiculous fee 😀 go for silver subscription. You’ll know pretty fast if you want to stick with it or not. It’s definitely the cheaper and wiser choice. If trading is your passion you won’t find a better and more trustworthy course.
      Esteban

      • Thanks Esteban!

        I truly appreciate your thoroughness and willingness to tell it like it is. I am trying to find an alternative to my daily grind of working 8 to 5 everyday. I know its not for me and I know there is so much more out there. The only problem is getting suckered into the things because you’re wet behind the ears and see dollar signs! I have no doubt that this challenge is legit, but I do think it has turned into a sadistic approach to make even more money. I would honestly love to see the percentage of “students” that last the entire year and push through at least the 100k point within that time. Yes people are their worst enemy when it comes to work ethic, but if there are thousands of students willing to pay these fee’s I’m sure their would be a high number of successful students.

        The gentleman I spoke too was named Zan Cratch… I was very disappointed in the fact that I had an interview scheduled for 930am. I didnt get a call until 10am after I called him and left a voicemail, sent him an email and even directly tweeted Tim himself. When Zan finally called me he first thing he said was that he didnt have me on his “list” for the day and then said he got taken away from his desk for a family problem. I had a confirmed email from him less than 48 hours prior?… Sounded like a cover up to me.

        Have you tried the Silver subscription? Are you still trading today?

        -Davonte

        • Hello again,
          No problem at all! I mean I am in the same boat as you. I hated my job and tried my best to get out of it. Which is why I got sucked into the millionaires challenge. I think you agree with me when I say that we’re not meant to sit in a cubical 8 hours a day until we’re old and grey.
          As for the % of students that last the year, I think it would be more relevant to ask how many of these students are actually profitable. I mean I kept hearing about his 2 millionaire students and either one was a millionaire challenge student. If I remember correctly Grittani joined the challenge and then signed up to silver subscription after the year where he started seeing success. But I’m not even sure he signed up to the challenge.
          I know there are many of Tim’s students banking and making impressive amounts. I’m not denying that! But I think most of them come from silver subscriptions not the challenge.

          You know what’s really funny about your story with Zan? I actually raced home to make it for my skype interview and the person who was supposed to chat with me said very similar things.

          1) I sent emails and tweeted Tim because no one called me and I waited half an hour.
          2) I was told I was scheduled for another day (although I showed him emails with the confirmed date and time)

          I think it’s just very disorganized over there. They’re taking on more than they can and it’s been like that for many small technical issues and emails I’ve sent them. That doesn’t come across professional at all. The course is also very disorganized like I said.

          But as for me and the silver subscription, no I never joined it but the millionaire challenge is pretty much the same thing. You actually get the same features as silver plus a few add ons with the webinars and dvd’s. Also there were other small perks that they didn’t even keep up (such as the facebook group).

          I decided not to trade anymore because I couldn’t deal with the stress. I didn’t like thinking about having 6k in an account and being able to lose 2k within a few seconds. I made a few trades and I think my mosts profitable one was when I made $150 within a few minutes right in front of a friend of mine, proving him that Tim’s method works.

          However when I made a loss of +$300 in a blink of an eye and when I realized I needed a margin account to short I thought I’d wait until I was a bit more financially stable to give this strategy another go.

          But here’s the thing, I didn’t know anything about trading and I managed to make a few profitable trades and I learnt a lot about the trading world and that is all thanks to Sykes teachings. So it shows that it works but you have to be super resilient and you need to really want this lifestyle to be a millionaire trader.

          Esteban

  4. What would you recommend if you don’t have $100 a month to spare, and time is an issue? Is there a cheaper alternate to learn at my own pace?

    • Hey Keoni,

      It depends what you want to do. If you want to get into trading, I’d highly recommend reading a lot on the subject. Theres a great website called motley fool which talks about investments, trading etc.
      However if you simply want to build a second stream of income I highly recommend the course I’ve enrolled to and still am part of called Wealthy Affiliate.
      The reason I recommend it, is because you can actually start and join for free. Technically you never have to pay for this membership and you could still make money! However you’ll find that small investments such as purchasing a domain etc. will have it’s benefits and speed things up a little.
      Definitely have a look at the review I wrote and see if this might interest you.
      Hope this helps 🙂
      Esteban

  5. Hey Esteban,

    My names AJ and I am a 22 year old college student and I applied for the millionaire challenge back in 2015 and my course fee was roughly $4200 which scared me off from going through with it, however, nearly a year later I’ve finally decided to take action to self-teach this to myself. I have roughly 8-10 of his DVDs on trading and only access to his youtube and website for information. I know this will not be sufficient and do intend on subscribing to the Silver Subscription (which is 149.99/month now) to gain access to chatroom/video library. As someone who has been enrolled in the millionaire course, does this seem like enough resources to tackle this massive project alone? Of course I’m just starting out but I am already running into obstacles that really aren’t thoroughly explained.

    My main issue at the moment is which brokerage website I should use and what charting software is worth paying for? I just signed up for E-trade this morning but I only did so because Tim references it a lot in his Youtube clips. I can’t seem to find out what live charting software he uses in every video either? You would think for as many students as he has this information would be more readily available? I know ultimately it’s up to me to decide on what will work best for me, but I would GREATLY appreciate being pointed in the right direction.Anyways, excuse me if any of this seems redundant or remedial! Again I’m just starting out

    **ALSO I completely agree with your review of the millionaire challenge. Its nice to see someone approach the topic from an unbiased and honest point of view.

    • Hey AJ,
      I can tell by the amount of work you’ve been doing and the purchases you’ve made so far that you’re really trying hard which is great. I say this because the course really does need someone to be active for more than a year to see giant results. If you stick to it and have a general interest in trading you can make it! The things Tim teaches are solid and it takes a while to sink in but I remember when one of his students said “eventually it just clicked” I knew exactly what he meant and I got to that point as well.

      Having said that being able to implement what you’ve learned is another thing and it’s the sole reason I gave up like I’ve said many times. But this isn’t about me so let me continue by answering your questions 🙂

      I would highly recommend you to take the silver course! If I could suggest the most important DVD’s, I think you’re well off with pennystocking part 1 and deux. There are so many DVD’s that were really a waste of time and just repetitions. In the millionaire course you get a massive box of nearly all of his DVD’s and I can tell you that a lot of them were the Vegas conventions where you hear a bunch of intro’s to other courses to binary option trading, different gurus etc. so don’t worry about needing to buy more of those.

      As for the Silver subscription, I would highly advise to go through around 1-2 hours of video courses a day and in the weekend try and do as much as you can. Make use of sending emails to Michael Goode and Tim himself. They usually answer and are quite helpful (unless you ask silly questions which can easily be found in the videos).

      The live chat is really pointless if you ask me, because everyone just shouts out what they’re watching and trading. At the same time I found it interesting to watch but it mainly distracted me from focusing on my trades!

      You will get a list of the recommended brokers if you ask Tim. Or at least somewhere in your subscription you can find it. I remember him getting annoyed that every student would ask him daily about which broker to use but he repeats it often. I do remember though that E-trade is not one of the brokers he uses anymore. He only uses it to show or read the Level 2 graph. The youtube videos are very old. You’ll find that now he’ll try and promote his software Stocks To Trade as a broker because obviously he’ll make more money.
      Although it does seem great, don’t feel forced to get that as none of his millionaire students use it either.

      Depending on how much money you want to start with, I’d highly recommend Speedtrader. I had a great experience with it plus Michael Goode was an expert with the software and can help you out loads. The service is great and you get level 2 charts with it. Hopefully you can cancel your E-trade membership.

      I hope this helps AJ!

      Also I wanted to say, if you do sign up for Silver, it would make more sense to go yearly because not only will you save 28% but you will definitely need more than a few months to get into the whole trading lifestyle. Maybe have your first month as a single month to see what the inside of Silver looks like before you commit to the yearly.

      Hope this helps 🙂

      Esteban

  6. Contemplating Millionaire Challenge. It is $6500. Doesnt sound good to put it on credit card which was suggested even without questioning if I had the money otherwise for that. Etrade was suggested which is fine by me. $6500 seems like a lot of $$$ for a course which from these posts sounds like just more videos. Do you still get live webinars with the silver subscription?

    • I remember that there were a lot of reasons why not to go for Etrade for me but I think most were to do with me being abroad. I chose Speedtrader in the end.
      The price is ridiculous if you ask me and I would definitely opt for the Silver subscription instead. I don’t remember if you get the live webinars or just a rerun of the live webinars. Either way, you can see them so it doesn’t matter if you attend them live or not. Most likely you will be busy sleeping or at work/school when they’re being held so you won’t even be able to attend them. And if you do, you get about 1-2 answers if you’re lucky since everyone throws in questions and compliments constantly. The live trading webinars are also purely for educational purposes and not to copy his trades as you’ll be too late anyway and just lose money if you do so!
      Hope this helps,
      Esteban

  7. Hi,
    Thanks for all ur candid advices.
    Do you think this DVD is good for a Novice in stock n trading….it’s HOW TO MAKE MILLIONS DVD by Tim Syke.
    And which of Tim DVD is the best for a Novice to start from scatch on p.stocks and actually grow .

    • Hey Sid,

      I haven’t actually watched that one of his. I think it must be a newer one. The ones I would highly recommend to watch are Pennystocking part one and part deux. They probably teach you the most and all the basics that are good to rewatch several times if you’re just starting out.
      I actually watched both of these several times. At one point I knew all the terminologies and what he was talking about and which points are crucial when trading, so I highly highly recommend those two 🙂
      Hope this helps,
      Esteban

  8. This is how i see it and this is the plan i am taking. I bought the how to make millions dvd and i am studying everyday. Then i am going to buy the Level 2 dvd and learn about that. After that i am going to buy Spikability dvd because it teaches you all about buying earnings winners and buysing stocks and how and why the stock spiked. No need to shortsale as with a small account you cant anyways. After the Level 2 dvd i will buy the Trader Checklist dvd that he is coming up with and that dvd teaches you about how to plan your trade and what to look for. The chellenge student course is not for a complete beginner. It is more for a person that at least understand his patterns. So if anybody reading this is curious about starting thats what i would say. Learn from the dvds in your own time and then upgrade to the silver subscription and learn from there. Also by the time u start the silver subscription u should already be trading or start trading. If you see results( obviously give it time as you will probaly lose money at firat but if you learn to cut losses quickly you will be fine) then apply for the challenge course. At that time u will already be up to date with his dvds( u dont have to watch all 17 by the way) and u can just be apart of the webinars and the daily video lessons. Thats my staregy going into it. I am currently in the Level 2 dvd and ive been studying for 1 month. Also this isnt a get rich quick scheme. You will need to pit countless hours into studying every day. Not every other day. You need to take it seriously if you want to succeed in day trading and Tims strategy. I wish you the beat of luck but if you study everyday and are really working hard you will start getting it. I finished the How to make millions dvd and i cant tell you how much ive learn. That dvd alone goes over a bit of everything from chart patterns to level 2 to shortselling. I would start there first then move to the other dvds ive mentioned. Like i said dont just dive into challenge student. You will be overwhelmmed with all the content specially if you dont know anything about trading. Shoot me an e mail if you have any questions. I am a new student ( about 1 month in ) and im studying everyday.

    • Hey Daniel,
      First of all, thanks for taking the time to write such a thorough comment. I’ll go through yours from the top and try my best to answer it:

      I think the DVD choice you made is the correct one. I’m not familiar with the newer ones you’ve mentioned however the level 2 and part deux we’re amongst my favorite ones. I agree that shorting with small accounts firstly is somewhat dangerous and not really possible. It’s safer and “easier” to go for long trades.
      As for the challenge course, you say it’s not for complete beginners, but I disagree with you on that. I was a complete beginner when I joined and I learned a lot. I understood his strategy and understood why and how certain stocks moved. I could name a few of the same stocks and more or less where these would spike and drop as Tim did after months of studying.
      However I have to emphasize again that I did study a lot before I did. I watched certain DVD’s over 3 times and went through the video lessons like an obsessed student.
      I also agree to encourage beginners to go for the silver subscription instead of the challenge but again I disagree with you that they should be trading already. I actually remember a lot of traders saying they wish they didn’t know how to trade when they joined because you have old habits that make you take wrong decisions and new students would start from scratch using Tim Sykes’s habits which are obviously better. Once you feel a bit more comfortable there is no need to upgrade to the millionaire challenge. You should stick with Silver and perfect the strategy. You don’t get much more from the challenge course. You don’t have to watch any DVD’s either to be honest. You could comfortably learn everything from Silver subscription but it will take you time. The DVD’s are just additional help to speed up the process.
      Yes it is not a get rich quick scheme but anything that is honest usually isn’t a quick scheme. I studied hours and sacrificed weekends to study more and I saw huge progress after about 6 months I actually made a few good trades as well but gave up on the course because trading was too stressful for me.
      The challenge is overwhelming at first, but if you have a very organized nature you can dig through it like I did. Again I didn’t know anything about trading just that I wanted to make money through it. But again I personally advise the silver subscription.
      Thanks for your comment 🙂

  9. I am so happy I found this blog. My interview is in a hour and a half and I have been doing nothing but studying and taking notes and doing research. However due to your blog I realize I should have looked a bit more into peoples experience. I will still be going through with the interview but now I feel that I want to take a different approach and do a bit more individual research before committing to the million dollar challenge.
    I have no doubt that Tim’s procedures are correct and he has profited but I am already learning it is a a lot to take in at first. I think I’ll create my own challenge based on his, hopefully I can take it from there. Thanks for the tip on the Silver Subscription I am going to join that after another week or so of studying. I am starting out with no knowledge at all and have already learned so much from Tim’s free videos he sent out and the book he has posted on his site called “Penny Stocking 101” but I don’t feel ready to jump in the field. Thank you so much for this post and all of the others who have commented on it. We shall see how this interview goes but now I think it is even more pertinent that I created the list of questions to ask my interviewer. Thanks again 🙂

    • Hey,

      Let me guess.. you passed the interview ? haha I think everyone passes the interview. About 1 out of 10 don’t pass this interview. I think they accept about anyone to make as much money as they could.
      It’s good that you watch his free stuff too because it is very rich in information! I’m happy you found this review useful 🙂 Let me know how it goes!
      Esteban

  10. Thanks for all the insight one quick question should i go with the silver package or get a guru from his profit.ly web site superman looked interesting because he teaches more than just Penney stocks he swing trades looking at company fundamentals, almost sounds like i have my mind made up.
    Thanks

    • I would definitely go for the silver package over the Millionaires challenge. However there are some other gurus that seem very interesting.
      I actually met Superman in the Vegas convention as well and if I wouldn’t have signed up to the Tim Sykes challenge I think I would have signed up to his. But I don’t know too much about his strategy so I don’t want to give away the wrong impression. I met one of his students who made over 300k or something in a single trade through Supermans techniques and he told me that he started with an investment of 300k. So I’m not sure if you need a lot of money to begin with.
      However Superman also told his story how he used to live out of his car and started from the bottom.
      Either way, I’m sure you will make the right decision 🙂 don’t jump into the millionaires challenge is all I can say 🙂
      Good luck!
      Esteban

  11. One of Tim’s students, Mark Croock, has watched all of Tim’s video lessons 3-4 times, and he’s one of Tim’s top students. I think there were around 2000 videos when Mark started, but now there’s over 4000.

    When I was called for an interview about a month or so ago, I was also informed that the course would be roughly $6500 (I forget the precise number). And it was also suggested to pay with credit. Honestly, as excited as I was at that time, I might have done so if I had some credit available, but I’m still paying off my business card.

    Instead, I signed up for Silver and bought the How to Make Millions DVD, which seemed like a decent overview of everything you need to know. There are a lot of great lessons in this DVD, even benefiting your life outside of trading. I feel like I have a good grasp of a lot of Tim’s rules, but I still feel like I’m looking at the Matrix when I look at a chart. Sometimes little glimmers of understanding shine through, however, and I can even predict some of the stocks Tim is going to alert, even if I don’t know what he plans on doing with it.

    So TL;DR getting Silver and watching the video lessons is solid advice.

    • Hey,
      Mark Crook actually lost it all and he was MIA for a good few months if not years but he is making a comeback. He did watch all of the videos when there were around 2000 of them I think. My goal was it to do the same. He even summed them all up with the most important ones and it’s a list of 600-800 if I remember correctly.
      I still can’t believe that they encourage people to use a credit card and that you’d make it back through the course. That is the worst and most untrustworthy advice ever. Especially because people are very gullible and clearly believe in the course. I really don’t like that and think Tim should stop with that strategy.
      You made the right choice going for silver believe me. Don’t worry about the matrix effect it will sink in sooner than you think. I kept looking and listening at the video instructions and eventually it just clicked and made sense. The hardest for me was the level 2 chart but I eventually got it as well.

      Best advice I could give is keep learning and keep making your own watch lists and see if they correspond to Tim’s ones.

  12. Thanks so much for your review! Exactly what I needed as I got very curious about Tm Sykes strategies. I read another review recommending Superman and another guru, but the 2nd guru is no longer in Profit.ly. Hope I can find a way to track him down and maybe make him my stocks mentor. Will check your WA review. I’m really all about getting a decent passive income now. Thanks again and good luck to all of us!

    • By the way, what will you recommend as Tim’s “best” DVD? If there’s one MUST SEE DVD, which one is it? Should I watch that first before I try the silver subscription? Thanks in advance!

      • My advice for the “must-see” is the pennystocking part one and part deux. They are by far the most informative and full of basics and gives you a great overview. Also don’t hold back to watching some of his youtube videos because that’s pretty much the same as the videos you get in the course. He holds back a bit of information in them but they are still incredibly similar to the videos you get in the course.
        Glad you found my review by the way 🙂

    • If you want passive income I strongly don’t recommend any of the profit.ly courses. They are very active ways of making money. This doesn’t mean that they don’t work. If you end up being great like Tim and Grittani then you can make several thousands within a few hours or minutes even. But before you get to that stage there’s a lot to learn and also you have to do your research the day before. I think on average you need at least 1.5 hours of work even on a great day of trading.
      Affiliate marketing however can be very passive where you can check in on your earnings only and maybe do a few bits and bobs a week to update your site or whatever. You could even hire a VA to manage your site while you check in with him/her every week or so.
      Just in case you were wondering 😉

  13. Hi Esteban,

    First, thank you for this very honest and objective review of Tim’s Millionaire program. I found it to be very helpful. If I do decide to enroll, it will be with a silver membership after spending a month or two watching DVD part 1 and deux and checking out many of his youtube videos.

    I was recently introduced to Tim as he was a guest on a podcast that I follow. The podcaster I follow is a very genuine guy and only brings on credible guests that want to be of service to others, so I was intrigued to learn more about this guest (Tim) who did so well trading penny stocks. Had I heard about a penny stock trader any other way, I would have just ignored it and considered it to be another one of the internets many get rich schemes.

    Fast forward a bit, I have done a lot of research on Tim, he has really gotten himself out there being on Steve Harvey’s show, Fox Business, etc. etc. He is a natural promoter and clearly talented at it. However, I can’t help but wonder if this might actually become a problem….I mean he wants to teach students and create thousands of successful traders using his proven methods. I would imagine he has thousands and maybe even tens of thousands of students out there implementing his same system. I wonder if this could create a problem of having all these people trading and impacting the same setups/stocks/plays (whatever you want to call them). In others words, this army he is creating that are all going after similar tickers/setups might unintentionally throw off the normal rhythm of trading. Has Tim ever mentioned or addressed this and any of his DVD’s, webinars or live conferences? Is there enough volume of people (and shares traded on each setup) out there that there is no reason to be concerned? If I am the 10,000th student to start using his methods, am I too late to the party? Am I going to see these stocks act differently with Tim’s protégés involved with most of them?

    I had never heard about Wealthy Affiliates until finding your website. On your journey to passive income, I am curious as to why you went this route? How would you compare the earnings potential of Tim’s system vs a similar effort (timewise) in affiliate marketing?

    Thanks so much Essi. These sort of authentic reviews are hard to come by on the internet these days. Very much appreciated!

    • Hey Mat,

      Can I ask what podcast you were listening to ? It sounds rather interesting and something I’d enjoy myself!
      It’s true that Tim is very much a talented and strong promoter. Having said that, he really wants to prove all the “haters” that his strategy works and it’s been working since he made his first millions. If you read his book you can see a bit of his struggle where he was still developing and finding out how he mastered his strategy. Of course there’s no 100% way to always succeed but he clearly describes how to cut losses quick etc.
      Anyway I wanted to say I find it really interesting you ask the question about throwing off the balance because I actually wondered the very same question when I was a student. In the book there is a bit where he realized a trending shift. Basically the momentum happened earlier each week or something and then a month later he had to get up earlier to use his strategy. Basically the stocks would drop much earlier than they used to, so he had to adapt (bear in mind I’m just using random time references because I don’t remember the exact patterns of the book).
      So if you consider this, it doesn’t matter how many students join and learn his strategy, because his strategy is made to adapt. Besides the fact that you can adapt, you also have to consider that not all of his students trade the exact same penny stocks and on top of that not all of his students get a hold of shares to short!
      And then again, you have to consider that a very high percentage of his students never get past the first few months. Everyone has high drive and motivation listening to Tim’s marketing skills but when they realize how much they have to learn before trading they give up before it even gets hard… So to sum it all up, don’t be afraid that you missed the party 😉 there’s plenty of parties to crash!

      As for Wealthy Affiliate, I never heard of affiliate marketing before. Once my friend told me about the concept I was sold within seconds. It just made complete sense to me and seemed like an insane potential. I’d say the earnings potential is unlimited whereas your earnings potential with Tim’s strategy is limited by the amount of money you have to invest. Timewise… I would say you’re probably going to make your first $ with affiliate marketing much earlier than with trading.
      I can only speak for myself though. I studied 6 months before placing my first trade. I made $150 within 15 minuted with Tim’s strategy very early on, but I also lost about $260 very quick once and that scared me off.
      With affiliate marketing you don’t really lose money because you don’t have to risk it. You invest it in softwares that can help you earn more, such as keyword programs for instance. But trading is much more active compared to affiliate marketing which is another reason I wanted to pursue something else. I prefer passive incomes. I wake up every morning looking at my earnings, rather than waking up every morning trying to place the right trade!

      Hope that helps 🙂

      • This is great information about the challenge and the Tim’s strategies all together.

        I am wondering if the podcast in question was that of Lewis Howes – School of greatness, where Tim was a guest a couple days ago. The podcast also introduced me to Tim Sykes, which I personally find genuine and straight to the point. My goal is to learn and make money, I could care less about his personality. I have been doing 3 hours videos/day and more on weekends. My goal is to eventually start trading for real in a month or two.

        I am hesitating between the Silver membership(149$) and the Tim’s Alert(75$). The only difference is the access to the movie library. Do you find the library indispensable? Any thoughts on those two?

        Also, you seemed very motivated and really into the program(my current phase). What changed your mind?

        • Hey,

          I would definitely not choose the Tim Alerts. All you get is a pretty annoying email or sms showing you tickers of the current trades Tim places in real time. The problem with that is, that once you receive the notification you can’t actually perform the same trade as you’ll most likely be way too late.
          He actually highlights it very often that the purpose of his alerts are not to try and catch similar trades, it’s that you should learn from them. Having said that, I feel like the videos are way better as he goes much more into detail why he placed certain trades and why he goes out when he does.
          The alerts are quick and don’t really teach much.

          I was really motivated and the main reason I quit are two really…

          1) It’s too quick. I made $150 within about 5 minutes once and I was over the moon. But I also lost $300 within a few seconds once and that scared me off. Even if you protect yourself and go out when things don’t go your way (rule number 1) you can still make a significant loss.

          My current online business is very inexpensive and I don’t lose money. I just make a little less on certain days.

          2) I live in Luxembourg and when the market opens, I’m usually at work and when I get back from work, it’s when the market is very calm and you can’t place any trades. Trying to juggle trading and working at the same time was so much stress and effort and Although I would love to trade, my stress tolerance just isn’t made for it. I get too nervous and it’s too much money in one go.
          I prefer slow, steady and safe 😉

  14. No questions (right now), just wanted to say thanks very much for the well written and concise look at what you get in Tim’s millionaire program. He sells himself so aggressively it’s hard to tell if it’s a scam or not. This review should be the very first thing to show up in google when looking for reviews of his course. Good luck.

    • Hi Jambo,
      That’s good to hear. I’m happy to help others out who are considering this course. He really does sell himself aggressively and it seems to work (at least it worked on me) but yea he makes it seem easier than it is. I might try and update it with some more information to make sure I’m the first hit on Google 🙂
      Thanks for your feedback!

  15. Thanks for the review. Have my interview today don’t think I’m going to take it based on all the info you gave . The fee is a lot off money . Silver package seems the best way to go . Thank you just saved me a lot of cash .

    • It’s still worth doing the interview I guess… You’ll see how it’s more of a sales pitch and trying to see if you have the money for it rather than an interview to see if you’re the right person for this course. Out of all the students I think he’s only made 2 millionaires, 1 of which was a guy who already traded for years and had a lot of money and the other guy started with 15k I think.

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