Why The Transparent Investment Management (TIM) Portfolio Has Failed
Read the full article: http://investingadventures.com/2008/01/why-the-transparent-i...
Recently in an attempt I think to quiet his critics about getting lucky during the dot-com era, and his disgust for the secrecy in the markets, Timothy Sykes has decided to recreate his previous feat with complete portfolio transparency. However, even with a 50+% return according to Covestor (which I believe is completely inaccurate since the TIM portfolio is currently valued at $14,404, or a 16% increase in value), the TIM portfolio has violated the one rule that, in my opinion, hurts the smaller trading accounts.
Enter Exchange Rule 431 which includes the dreaded pattern day trader amendment.
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Well I found the problem.
Well I found the problem. The SEC has their rules written very vaguely. Some sites say 4 day trades in a 5 day period. Other sites say 4 day trades of the same underlying in a 5 day period. I'm emailing thinkorswim about this because now I'm more confused than when I started. That's the problem when you don't have a very good broker when you start out. Zecco never gave me any good information. thinkorswim folks are extremely helpful.
haha who cares, I've traded
haha who cares, I've traded like 20 times over a 5 day period, the PDT rule is utterly ridiculous, we need financial freedom. Oh yeah and Investing Adventures, I still can't believe you didn't come to me with your questions first before posting (a comment left on my blog doesn't count)--it's just rude and the fact that you'd think I'd be stupid enough to actually try and cheat when my whole platform is full transparency and honesty, well, it's just kind of funny.
linkbait
linkbait
Keep us posted on what they
Keep us posted on what they say. I am very curious to hear their response.
Does Tim Sykes have any news
Does Tim Sykes have any news on this? I am not too familiar with these regulations and I guess I don't know that I have had a problem making these sorts of trades in the past for my account, which isn't a very large account.
The amendment to Rule 431
The amendment to Rule 431 involves the description of the pattern day trader. Rule 431 I believe is the general margin rules for the markets.
http://www.nyse.com/pdfs/im01-9Microsoft%20Word%20-%20Document%20in%2001...
That's the amendment involving PDTs.
Thanks for the Rule 431
Thanks for the Rule 431 Update.
Can you explain what the
Can you explain what the Exchange Rule 431 is?