Mad Hedge Fund Trader

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16 Comments
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jozsika
Irregular
jozsika
August 25, 2015 10:20 am

I subscribed to the free version (the paid one is $4,500/year.)

Based on the trades I have seen so far I don’t believe in his published results. He very well may have his e-mailed trade alerts “audited” but he doesn’t trade them so the audit is nothing more than tabulating his fictional results.

He sends out trade alerts on low price, deeply ITM or OTM thinly traded spreads. 0.10-0.20 slip is not unreasonably in this type of instruments and that can change a hypothetical profit to an actual loss.

OTOH subscription to his co-author the Mad Day Trader comes with this subscription and I found his posts and videos quite informative. I don’t day trade but if you do, I am interested in your opinion.

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h2oskier
Member
h2oskier
February 1, 2016 12:30 pm

I agree with Joseph Janos comments, except I was a subscriber and lost money where he posted 35% and said you goal should be half that.

1st problem is results posted are based on where the options market is at time of trade AND the reality that markets move fast AND over 1/3 of trades don’t fill, but he counts them as successful or unsuccessful trades. Ironically most of the biggest winners are ones that don’t fill, and you need the winners to offset the losers.

2nd problem one can have with MHT is commissions eating half or more of profits. Always negotiate your commissions with broker.

3rd problem is testimonials although they may be legit what you don’t see is these folks MAY not be following exactly what the MHT trades say to do. They could be leveraged higher.

So your mileage may vary, and BY FAR not a slam dunk as marketed.

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👍 6
Gilbert Specht
Member
Gilbert Specht
September 16, 2016 11:13 am

Just read John’s bio. He supposedly graduated from UCLA in 1974 which makes him at least 64 years old. He also says he was “Drafted” by the US Marine Corp to be a pilot when Iraq invaded Kuwait. I would challenge anyone that claims they were “Drafted” to be a military pilot in a war at age 48. He’s full of something.

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N. Flonkerton
Guest
N. Flonkerton
April 26, 2017 6:09 pm
Reply to  Gilbert Specht

Dead on, Gilbert. If you didn’t see his recent post in which he recalls B-52 missions from Anderson AFB, you’ve missed another whopper. That people would throw hundreds of $ a month at this clown without assessing his phenomenal claims is tragedy.

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jim knocke
Guest
jim knocke
April 4, 2018 2:17 pm
Reply to  Gilbert Specht

As a career Marine Officer, I can assuredly agree this guy never flew anything. Those drafted under
Secretary McNamara’s reign were mostly mental category 4’s who could not perform most basic tasks.

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ariekanari
Member
ariekanari
September 27, 2016 5:15 pm

I also subscribed to the free version of his service and received a few trades, in which he describes the trades (usually debit spreads; debit spreads are not that easy to defend if the trade goes against your assumtions as credit spreads). He also provides a screenhot of the order (so you know which leg to buy and which leg to sell) but for 3 out of 5 trades he provided the *closing* screenshot instead of the BTO screenshot.
If you subcribe to his Facebook page or receive his emails you will notice that he often recycles his previously written articles.
Therefore, I decided not to sign up.
Unfortunately, I bought his book “Stocks To Buy For The Coming Roaring Twenties” instead ($50).
The contents of this “book” are all recycled articles from his website – which you can read for free and contain no actionable information – without any chronology, additonal context or logic, or clarity.
He is certainly the king of recycling his content over and over again.
He was a journalist after all.

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👍 7
dapez
Irregular
dapez
April 26, 2017 9:35 am

Also subscribed to the $499 3 month service and quickly lost money on trades he claimed to have made outstanding profits. Looking further, I found his service claims the best exit and entry price that might have been true for an instant. I protested requesting a refund, and the service informed me they never refund unless you demonstrate you have taken the trades for the full length of the service and don’t show a profit! I persisted and did get the refund.

However, John Thomas is an interesting person, and covers lots of territory.

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👍 20
N. Flonkerton
Guest
N. Flonkerton
April 26, 2017 6:05 pm

Read Gilbert Specht’s view again, and magnify by 5x.
John Thomas’ “history” is an impossible fairy tale. In answer to a commenter in a Sept 16, 2016 SA Post (“The Mathematical Impossibility of a Trump Win”), he states “I did 10 years at the Economist, 1974-84. Covered Reagan, Thatcher, Cho Enlai, and Deng Hsiou Ping.”
But in a recent article on SA (“The Next Korean War And Your Portfolio”, Apr 24), he regales potential subscribers with the tale of his mission as a Co-Pilot on a B-52 stationed at Anderson AFB in Guam in 1980. So… he was a SAC pilot with a TS clearance and SIOP access AND a global correspondent travelling to the PRC at the same time.

He imagines what his readers would like him to be: valiant aviator, international financial journalist rubbing shoulders with giants, hedge fund founder… whatever people find appealing to make himself appear wordly, and thus worth $thousands/year. If you believe a word of his fantasies you’re falling for a charlatan.

Did you know, for example, that he had lunch with Janet Yellen back in January? Why, of course he did, and she recalled his quirky manner as one of her students when she was a professor at Berkeley.

If you cannot trust the stories your advisor tells, how can you even imagine he should be an investment advisor?
He’s a pathological liar.
Stay far, far away.

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EJK
Guest
EJK
July 21, 2017 5:46 pm

The man is a pure sociopath, buyer beware.

Robert
Member
Robert
July 23, 2017 4:43 pm

This is the most expensive and least worthwhile service I have ever seen. Huge promises with claims of past successes. Very little to show for it. His emails are mostly gossip about hanging with