'An American Hedge Fund' Reviewed on DJ Newswire
- Thread starter TimothySykes
- Start date
wow. can't believe i'm defending tim sykes (see my book review; in summary, the 'book' should be a 20 page interview as part of a larger book on younger traders, the title is terribly misleading, it's best suited for armchair trader cheerleaders instead of real traders), and i hate his spamming, BUT...
first, bob and others - CHNR was borrowable. i got some through IB on multiple days. i only got 1200 on the nice day, but they had 4 or 5000. i've since been told that other brokers had some as well, but not mine. similarly - just because "you" (generic) can't find something doesn't mean someone else can't find it.
second, tim sykes is likely not timvodas. there were a bunch of posts of his (vodas) where he (vodas) would simply cut and paste someone else's post, start a new thread with it, and go from there. it's a longtime variation on the internet pasttime of trolling.
in fact - just checking before i clicked submit - vodas' first post took a bob bright story, and made it tim's, which he "didn't appreciate this outright lie."
finally, to others - yes, the 'system' i suspect he's teaching on his DVDs is doable. it's been one in my arsenal for 7+ years, and i found out that others had been doing it before that, etc.
a real hedge fund (not sykes' friends and family fund) couldn't trade this way, because of the relatively small size involved.
now, is it risky? yup. is it REALLY risky for someone with a small account, who's already made a couple successful trades and doesn't have discipline and emotion down pat? sure - they'll break whatever rules he has in place (either ignoring a stop, or jumping in too early, or...) and take a devastating hit.
so, please...
1) CHNR was shortable. tough to find, but shortable.
2) sykes is NOT vodas.
thanks.
first, bob and others - CHNR was borrowable. i got some through IB on multiple days. i only got 1200 on the nice day, but they had 4 or 5000. i've since been told that other brokers had some as well, but not mine. similarly - just because "you" (generic) can't find something doesn't mean someone else can't find it.
second, tim sykes is likely not timvodas. there were a bunch of posts of his (vodas) where he (vodas) would simply cut and paste someone else's post, start a new thread with it, and go from there. it's a longtime variation on the internet pasttime of trolling.
in fact - just checking before i clicked submit - vodas' first post took a bob bright story, and made it tim's, which he "didn't appreciate this outright lie."
finally, to others - yes, the 'system' i suspect he's teaching on his DVDs is doable. it's been one in my arsenal for 7+ years, and i found out that others had been doing it before that, etc.
a real hedge fund (not sykes' friends and family fund) couldn't trade this way, because of the relatively small size involved.
now, is it risky? yup. is it REALLY risky for someone with a small account, who's already made a couple successful trades and doesn't have discipline and emotion down pat? sure - they'll break whatever rules he has in place (either ignoring a stop, or jumping in too early, or...) and take a devastating hit.
so, please...
1) CHNR was shortable. tough to find, but shortable.
2) sykes is NOT vodas.
thanks.
I'm not getting into a big thing here- snake oil sykes is NOT worth it. All I will say is "me" (generic) have some history with short selling and have cleared thru GS for many years. I'm on the phone with stock loan all the time, and CHNR has been absolutely, positively IMPOSSIBLE to borrow. And if they couldn't locate any for me, they had none to lend.
So maybe the biggest firm on the street (with the largest inventory of borrowable shorts) had none while others did..which does sound fishy..sounds like a Pinocchio story. Sounds like a snake oil sykes story.
I'm talking about investors protecting their gains during a run up before short sellers like me come in and hammer the stock down. When a stock runs up from $5 to $22, thousands of investors put their stops at $20, hoping to protect their gains, but when $20 gets taken out, there are so many stop losses there that they only sell their shares at $18 or $19 because the stocks drops that fast. If they put their stops at $20.03, they'd sell at $20 and save money. Understand?
Thanx, couldn't have said it better myself. It's funny how most traders really do believe they have the whole game figured out until a black swan, in this case being able to borrow CHNR, comes along
Okay, you're saying stock is at 22 then drops to 20.00?
So those with stops at like 20.00 or 19.98 would get filled at 19 or 18 whereas the one with stops at 20.03 might get filled at 20.00?
Well you're assuming that price will break down through 20.00. What happens if price hits support at 20.01 and moves back up? The one at 20.03 would be out while everyone else with stops at 19.98 would still be in the market.
You're only representing one possible outcome. Heck, might as well lock in your profits at 20.55 (or some other random number over 20) with that logic, b/c that will get filled before the break both 20.03 and 19.98.
Wow talk about looking at the market form two different POVs--I only think in terms of stocks falling! I'm saying when the stock goes from $5 to $22 and then starts to retrace, how can longs protect themselves and sell their positions to capture as much of their gains as possible. If they go to work and put their stops at $20, they won't get executed anywhere near $20 because there's too many others at that exact point. Whereas if they learn to anticipate and beat the crowd at $20 by putting their stops a few cents above, they'll get taken out before the price drops quickly, like I've seen and profited from thousands of times.
Pinocchio, still never told us which brokerage house allowed you to borrow the shares.
