After pre-ordering it two months ago and receiving it two weeks ago, I finally finished watching Tim Sykes’ Learn Level 2 DVD and here is my review.
Conclusion: This is a pretty decent trading DVD but there is not nearly enough video of Level 2 in action. As someone who has plenty of experience trading and trading using Tim Sykes’ strategies, I did not want another DVD of Sykes explaining how he trades. I wanted a DVD of him showing how he uses level 2. So most of the approximately 5 hours of video was needless repetition for me. For someone looking to learn Sykes’ strategy I would recommend Pennystocking Part Deux or TimFundamentals Part Deux (I own both). I could only recommend this to someone who has no experience with level 2 and little understanding of technical analysis who may have purchased TimFundamentals or TimFundamentals Part Deux (the two of Sykes’ DVDs that delve least into technical analysis).
- Sykes explains important facets of technical analysis and level 2. He shows lots of level 2 data of interesting OTC BB stocks.
- Presentation style is good and he is easy to understand. He describes the basics of Level 2 so even someone without any experience or knowledge of it can understand him and learn.
- There is very little in the DVD that a follower of Sykes with a year of experience watching level 2 would not already know.
- Video quality is only adequate. The first 40 minutes or so of disc 1 were shot with Tim in front of a green screen and there is some flicker in the green screen. After that disc 1 is screencast and the quality is good. The sound quality is the opposite: the first 40 minutes are very good and after that it is only okay. See the descriptions of the discs below for details on which parts of which discs are screencast and which are done in front of a green screen.
- After watching a bunch of Tim’s DVDs, I just want him to be a bit more professional. It is okay to look unkempt and have random crazy analogies and to sing the Cotton “Fabric of our Lives” song, but please don’t have a 20-second conversation with your girlfriend in the middle of the video!
- I would have preferred a lot less in the way of stock charts and more actual live level 2, especially of Nasdaq (not OTC BB) stocks around key inflection points. Most of the stocks Tim showed on level 2 were boring. I know it is tough to find stocks that are most interesting, but I would have preferred waiting another month for the DVD if that had meant I would have gotten to see more interesting and useful level 2.
- The stocks that Tim shows on level 2 are either OTC stocks (for which level 2 is quite different than listed stocks) or boring stocks that were not moving much. I would have much preferred to see some interesting Nasdaq stocks.
Disc 1: Intro to Tim Sykes and then definitions and level 2 basics.
Disc 2: Looking at a few different stocks on live level 2 but also a lot of intra-day and multi-day charts. This was mostly done in front of a green screen.
Disc 3: Some random stuff about trading stocks, some level 2, Tim trading IFNY (an OTC BB stock) and showing its level 2. Half of this disc came from one of Tim’s weekly Livestock shows. Unfortunately Tim spends some time answering random viewer questions (not related to Level 2) during that segment. 75% of this DVD is green greened, 25% is screencast with Sykes in a little video box.
Disc 4: The first part of this disc does not have level 2 info, just stock charts, with Tim talking about fairly basic technical analysis and technical trading strategies he uses. I like this part, but he should have waited until the right time to record level 2 video to support his various patterns like the “cliff dive.” I do like that this disc is screen captured.
A Gratuitous Level 2 Screencast (recorded by me with little commentary)