lee lowell’s instant money trader
by gmcmahon | January 1, 2012 5:10 pm
Have ”Instant Money Trader[1]” strategy and advice borne out? It’s awfully promissory but has a credible underpinning i.e. selling ”options[2] insurance”.
Endnotes:
- Instant Money Trader: https://www.stockgumshoe.com/tag/instant-money-trader/
- options: https://www.stockgumshoe.com/tag/options/
Source URL: https://www.stockgumshoe.com/2012/01/microblog-lee-lowells-instant-money-trader/
I had been a subscriber to Instant Money for 2 years. Loved the service and was doing quite well, until mid 2011. Two trades from his service , a Rimm naked put, and a Omx naked put were a disaster and took all my profits from the entire 2 years. Even though he rolled these trades down, the loss was impossible to contain. The ongoing education was great and he constantly keeps you informed. Unfortunately, I have to move on.
I see both the RIMM and OMX trades in his archive losing big. I don’t understand how he claims that eh has never had a losing trade or even a losing year.
Lee Lowell recommends selling far out of the money, very cheap puts. The nature of such trades is that:
1. They usually make money, as the stock usually doesn’t get down to the strike price of the put.
2. When you lose, you lose hugely, all out of proportion to any possible gain.
One of the dangers of selling such cheap puts is that you might be tempted to sell a lot of them on margin. The problem is that if the stock goes down enough you will be required to buy the stock (100 shares per put) and if that means you have to sell your house, well, get used to renting. OTOH, if you are conservative and stick to cash secured puts you’ll probably be frustrated with the tiny amounts of money you’re making.
Does Lee Lowell stand by his:
60-Day IRONCLAD GUARANTEE?
My 100% “Iron-Clad”
Guarantee:
I understand that if I simply decide the Instant Money Trader isn’t for me. I can call your toll-free number within 60 days of today’s date and receive a full refund of my subscription price, less the 10% processing fee.
And if the recommendations I get from Lee don’t give me an opportunity to collect at least $850 – the cost of my Instant Money Trader subscription – over the next 60 days. I can still call to request a refund of my S850 subscription price (less a 10% processing fee) and continue receiving Lee’s recommendations for an entire year
About two and half months ago I joined Instant Money Trader but never activated any part of the program, due to financial problems which came up shortly after joining. I understood that if you wanted out there would be a full refund. I am getting a refund but not the full amount. Since I never used the account and never collected any money from Lee Lowell. The 10% fee does not add up in the refund even adding a half month missing the two month dead line. Iron clad I wonder!!
M Sorensen
Are you saying that you missed the 60 day deadline by a couple of weeks and they still gave you the refund less the $85?