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21 Comments
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surnamehistories
surnamehistories
July 7, 2014 6:30 pm

Hi, I have been with Manywaystotrade since February. The people are great. Not a losing trade. They answer every email you send. Been trading over 10 years they are the best. The price of the service is well, almost free. I trade the OptionScalper. Give them a try you will not be disappointed.

👍 1
birdmax
Member
birdmax
November 15, 2014 11:21 am

NEWSLETTER OPTION SCALPER SEEM TO BE PRETTY DAM GOOD. ONE TRADE AT A TIME UNLESS THEY PUT ON A IRON CONDOR, IT’S ONLY A WEEKLY TRADE WHICH I LIKE.
I AUTO TRADE WITH THEM.

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👍 -1
daviddream
Irregular
daviddream
January 5, 2015 2:29 pm

I just subscribed to this service. They made 111% in 2014 based on actual trades. The strategy is conservative in that they are spread trading. You won’t get the kind of results that some of these buy and sell calls and puts services advertise, but they will consistently be profitable in all markets by this credit spread strategy which sells way out of the money calls and puts. Their genius comes in adjustments, which sometimes yield gains, but are more likely to keep loses small. With such a large percentage of winners, they have always had good yearly results, although 2014 was particularly good. The one improvement I am waiting for is the communication of adjustments through text messages, which will help in volatile times when adjustments need to happen quickly. Bill, don’t give them any ideas about raising the price.

👍 23
birdmax
Member
birdmax
February 7, 2015 3:13 pm

STILL A GREAT NEWSLETTER. COMM. CAN BE BETTER CONTROLLED BY USING EOPTION, I AUTO TRADE.

👍 -1
jimbo0421
Member
jimbo0421
February 8, 2015 8:09 pm

I signed up for Option Scalper on January 18th and have made 3 weekly trades with them…all winners. This is a safe way to trade out of the money credit spreads. I will also agree with everyone that commented on their responsiveness to questions. They’ve answered all my e-mails promptly and with great responses to my specific questions. I plan to expand my trading and use this to supplement monthly income. And, yes, you have to use eOption if you don’t want to lose a large chunk of profit on commissions.

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👍 13
birdmax
Member
birdmax
May 26, 2015 11:11 am

great newsletter, very impressed with their conservative approach to trades, the profits keep on rolling in,.
I just signed up to their sister newsletter time bandit.
charles

👍 -1
dr10
Member
dr10
March 5, 2016 3:39 pm

Option Scalper current trade is down 80%+. The spread is deep ITM. Was wondering what the previous reviewers have to say now.

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👍 8
agj737
agj737
March 20, 2016 4:47 pm

My first and only trade with Option Scalper began on 02/17/16. I limited this auto trade account to use only 50% of the value of the account per trade. Results, which include broker fees, are a 74% loss of the ENTIRE account value. Yikes. They talk about staying OTM and being conservative, but it was not the case in this trade.
I just wanted to pass along my experience to other gumshoers. Be careful and start small when using/investing in options.

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👍 4
Tony_M
Guest
Tony_M
December 2, 2016 6:17 am
Reply to  agj737

Jeez, you only used 50% of your account per trade! Why not 75%. Who ever taught you that great money management secret. I am surprised you are ONLY down 74%.

Tony_M
Guest
Tony_M
December 2, 2016 6:17 am
Reply to  agj737

Jeez, you only used 50% of your account per trade! Why not 75%. Who ever taught you that great money management secret. I am surprised you are ONLY down 74%.

Phil
Guest
Phil
July 5, 2018 10:19 pm
Reply to  agj737

I was in that trade, too. Devastating to many but fortunately, I had lightened up from my usual 100 contracts. If I had $10,000 in the trade, that means I would have lost $15,000. This was less than 25% of my account at that time and it cost me about 33%. I heard that at least one very large account was 100% invested and it was an IRA. That means the account owner had to come up with a huge unscheduled contribution. Wow. How this trade got into so much trouble, SPY was going up, up, up and the adjustments could not be made fast enough to keep up. Although there was time on the trade, we went into the end of the quarter with our short strike in the money and SPY was due to pay a dividend. The autotrade brokers informed MWTT that if the positions were not closed, the short strike would be forced to be covered. The only thing that could be done was close the positions. With the debits created by the adjustments that had been made, the total loss was $1.50 on a trade that originally was done for a 5c credit. The history of this service’s trades are posted and this trade is there. BTW, I was watching volume on the strikes during my time with the service and, to the best I could tell, they were trading 80,000 contracts a week at the point of the trade from hell. They had allowed it to get too large, in my opinion, and the market does not like greed. Pigs get slaughtered. 80,000 contracts of $1 spreads equals $8 million of money at risk per trade. Only at a 150% loss, the market absorbed some $12 million at the expense of the subscribers of MWTT.

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SoGiAm
March 20, 2016 10:07 pm

Thxx Andyj. I invite you to join us in the discussions on stockgumshoe.com ; best investment I ever made at 13 1/2 cents per day. Best2YouAlwayz-Ben

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Steven Foerder
Guest
Steven Foerder
July 10, 2016 3:07 pm

After a second disastrous loss on 7/8/16, this was my response to an update email sent by Many Ways to Trade management:

To use one of your own words from this update, I’m ”FLABBERGASTED” by this update. After suffering a 2nd major loss, after the first catastrophic loss from March just four months ago, you are basically saying that we, your service members, are at fault for not expecting these kind of horrific losses? Perhaps you should re-read your own website description of this service.

“We are not a day trading system. We are a small team of options traders that no longer crave the fast paced wild action of jumping in and out of the derivatives market. Instead, we prefer a steady, conservative and less volatile trading approach. ” Emphasis on “conservative”.

VS YOUR UPDATE LETTER:

“Although, when a loss occurs, retail traders become flabbergasted. The biggest misstep most retail traders make is underestimating the aggressiveness of the Option Scalper newsletter (and weekly credit spreads in general) due to its years of fairly smooth profits.”

AND VS YOUR UPDATE LETTER:

“Weekly credit spreads are very volatile and aggressive; despite how their ease and
consistency can lull you into a sense of safety.”

You have totally mismanaged this trade, and the March trade, by not following your own stated rule of adjusting the trades if and when it gets to within .50 of going into the money. If you had followed your own rule the losses would have been far lower than we experienced. Each adjustment ratchets up the potential loss and at some point the trade needs to be closed before it gets out hand. It’s clear from the list of prior year’s results that that is exactly how trades have been managed in the past.

How about taking full responsibility for your mistakes, such as the amateurish one in March when you didn’t realize that SPY was going ex-dividend, forcing us to close the trade with a 150% loss, instead of lecturing members on how to manage expectations which your own marketing materials foster!!

Steve

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JoJo
Guest
JoJo
December 26, 2016 12:36 am
Reply to  Steven Foerder

I would also recommend staying far away from these guys. They have a very tricky way of calculating their wins and minimizing the losses. I lost a pile of money this past year with Option Scalper, thinking surely they would turn this thing around. But, alas, no. Another major losing trade in December… I’m outta here!

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joe4053
joe4053
December 10, 2017 7:46 am
Reply to  Steven Foerder

I too agree as it is also my experience, I had the misfortune of bad timing joining the service in late 2015. I was not a member of GUMSHOE at the time but after big losses I found this site and have discovered I was not the only one with horrible money losing result’s.

👍 4
joe4053
joe4053
December 10, 2017 8:05 am
Reply to  Steven Foerder

I do not understand how they can still have their website worded as it is and how it can be hard to find or review the trade results. They are not up front with their explanation as to why the trade went bad or as it has been mentioned
not getting out of the trade with minimal lose. That to me is not conservative and all my losses have been calls. To me
their web site is very misleading and not really producing what it implies.

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Blake Carter
Guest
Blake Carter
July 11, 2016 1:53 pm

I echo Steven’s thoughts – this service is a joke, or at a minimum, does not match the claims on the website. I cancelled, thankfully, a few weeks after the ex-dividend debacle in March. Stay far, far away unless you fully understand, as I did when I started with them, that this is very risky and loss of capital is likely.

I still subscribe to Time Bandit Trader, however, and it is much less risky.

Sakura
Guest
Sakura
December 14, 2016 4:01 pm
Reply to  Blake Carter

Well, well… There has just been a 2nd ex-dividend debacle. Last trade was a neer 100% loss. The model portfolio is now down more than 40%. For the year!

They will have to remove the “NEVER al losing year”-banner from the website.

The thing is, apart from poor risk management and trade allocation, Lucas treats Call Credit Spreads the same as Put Credit Spreads. Any beginner knows not to do that. Almost all his losing trades have been on the call side. Some people never learn.

Stay away from the autotrading. Do your own due dilligence and you might make a buck with this service.

Sakura
Guest
Sakura
January 9, 2017 2:45 pm
Reply to  Sakura

Make that “*all* his trades in 2015 and 2016 that were losers, were CALL credit spreads. Managing short calls is really, really a whole lot harder than managing puts…

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Steve
Guest
Steve
February 12, 2017 3:52 am

It’s all BS. I started with a 12K account, right now it’s at $3700. Account lasted about 16 months.

Dexter Thane
Guest
Dexter Thane
August 4, 2017 7:15 pm

I was with this website for over 2 years. In 2015 they was a great market that was helpful and got into very positive trades with them. However the past two years have been horrible. Lost over 50,000 last year and this year over half that again. many trades they said filled, not true. Depending on your broker it might fill. The losses are also lies as the trades lose much more than stated. After finally learning about credit spreads this site is one to avoid like the plague….They do not practice safe or even good trades. Auto trades with them is not safe!!!!!!!!!!!!!!!!!

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