Ease of Use
Quality of Alerts
Quality of Education
Quality of Support
PennyPro is a trading chat room and education service with a focus on penny stocks. The service is run by Jeff Williams and a few other moderators who offer watch lists, trade alerts, and education. This service is particularly appealing for traders with smaller accounts, but is it actually worth the money? Read the review to find out more.
PennyPro.com is an online subscription-based penny stock trading community that offers real-time chatrooms, trading alerts, educational videos, training, and mentorships. The site is the brainchild of penny stock millionaire guru Jeff Williams. The site focuses on stocks trading under $10 per share and caters to newbies and small account holders. Comprehensive training is available through DVDs, video libraries, webinars, and mentorships. Although penny stocks are extremely risky, Williams tends to stick with those that have very high relative volume on the day to ensure liquidity.
PennyPro operates under the Raging Bull umbrella of brands, which also includes Jason Bond Picks.
Jeff Williams has been running a penny stock education and trading room for many years. While the service is most recently branded as “PennyPro,” Williams has run the service under other names as well. When I first became aware of Jeff Williams, the service was run under the “Top Stock Picks” brand name. It appears that Raging Bull co-owner Jeff Bishop now runs top Stock Picks.
I was initially attracted to Jeff Williams’ service because he was one of the few traders who actually traded sub-penny stocks. Like many traders, I got my start in the world of penny stocks and was very interested in sub-penny OTC stocks since they were highly volatile and super cheap. There wasn’t too much information out there (besides messages on iHub), and Jeff was one of the few providers of quality education in the space.
It seems that Jeff’s strategy has stood the test of time, so without further ado, let’s take a closer look at the PennyPro service.
The site focuses primarily on intra-day momentum trading of penny stocks using news and technical analysis in the regular Penny Stock PRO chatroom. Swing trades are provided as well as options alerts for members of the Penny Stock Millionaire program. PennyPro may be a comparable service for those who are considering joining the Timothy Sykes chat room. Williams and his team tend to trade more penny stocks (even sub-penny stocks), and they are a bit more active than Tim.
I like how interactive the whole team is with the members of the chatroom. Even with hundreds of traders in the room, they keep a good handle on keeping the room focused on trading stocks.
Williams primarily day trades momentum-driven penny stocks with a long bias in the morning and moderates the chatroom, while mentoring in the afternoons with students of his premium Penny Stock Millionaire program. Williams tries to capture gains of up to 20% on low-priced penny stock trades. William’s team has two coaches that also provide trades and mentoring on the site. Taylor Conway is a momentum day trader focusing on stocks priced under $20 trading on news and technical analysis. Davis Martin specializes in swing trading, specifically with options. He regularly gives options webinars to members of the Penny Stock Millionaire program.
The Penny Stock Millionaire program is the all-in-one bundle that includes almost everything on the site to get you acclimated to trading penny stocks. Regular chatroom members have the option to purchase DVD a-la-carte at $397 for each of the three courses (beginner, intermediate and advanced). There are over 1,000 videos in the archives and regular weekly and bi-monthly lessons and webinars available to members. The blog is very educational with various examples of trades and teachings, although the updates are not always consistent.
There are two chatrooms on the site. The regular chatroom is available to members of the $99 monthly Penny PRO membership. This is where the bulk of the members hang out. The layout is similar to the chat rooms of Warrior Trading and Jason Bond Picks. It includes a trade alert window, chat window, streaming EquityFeed stock scanner, participant list, and audio commentary.
Wiliams and his moderators post their alerts and interact with members by chatroom text and audio. The members see the alerts in the chatroom indicating entries and exits made on trades by the PennyPRO team. Members are told not to piggyback, but many will jump right in as well. It’s important not to chase alerts as the initial market impact is most significant just after the alerts, and you can end up paying too much to get in. Alerts can also be delivered via email and text message/SMS as well. The Penny Stock Millionaire chatroom provides a live stream of Willam’s screens and broker account documenting his trades.
There are a lot of newbies in the room, which can number many hundreds of participants simultaneously. It’s essential to be aware of the motivation for the chatroom posts by members. Be careful not to be jumping into other’s trades without having a methodology in place. The educational training programs are very comprehensive on this site and easy to follow.
The site offers two membership packages. The basic membership is the Penny Stock Pro program for $99 per month. This service includes Chatroom access, a daily watch list of 5-10 stocks, live trading alerts through the chatroom, email, and SMS. Members also have access to the video library containing over 1,000 lessons and bi-weekly video lessons as well as bi-monthly webinars.
The Penny Stock Millionaire program costs $3,999 for a yearly membership. This includes 1-year access to all the Penny Stock Pro services, 1-year access to Top Stock Picks, 1-year access to Proprietary Trading Course, 5X weekly mentor mentoring and access to the Penny Stock Millionaire chatroom with William’s live stream of his E*Trade account as he tries to grow $10,000 to $1 million. Additionally, it includes Penny Stock Trading DVDs from beginner to advance levels and an opportunity to fly out and meet Jeff and his team once a year.
What Type of Trader is the Service Best For?
The service caters to beginners with small accounts in need of trading education and alerts on low-priced stocks. Penny stocks are extremely risky but can provide insane returns if they are managed well. Stops need to be taken just as profits need to be taken off the table. The worst-case situation on these stocks is ending up as a bag holder. Also, it’s crucial not to overtrade and violate the PDT rule if your account is under $25,000.
Is the Service a Good Value?
For most experienced traders, the $99 a month Penny Stock PRO membership is a great value. If you need more training, then the Penny Stock Millionaire program may be something to consider, but it isn’t cheap at $3,999. I suggest starting with the Penny Stock PRO chatroom first to get a taste.
- Lot of trading ideas throughout the day including the watch list and scanner
- A comprehensive trader training program
- A massive and growing video library of lessons
- Strong support and friendly moderators/mentors
- Impressive winning penny stock picks
- One of the largest online communities of penny stock traders
- Penny stocks can be the riskiest stocks to trade
- The site seems very similar to other penny stock gurus