Trading Options For Income

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48 Comments on "Trading Options For Income"

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Tom Reynolds
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February 10, 2011 12:26 pm

I have traded the Trading Options For Income- Spreads recommendations for nearly 1 year and it has been very profitable for me!

C.J. is very professional and his insight is spot on. Highly recommended!

Eric D. Brown
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February 14, 2011 2:01 pm
Trading Options for Income CJ at Madeira Trading Newsletters (aka Trading Options for Income) is a great options trader. I’ve been using the service for 4 months now and am currently looking at 80% returns on money invested to date using the Spreads Strategy and about 25% returns on the Puts / Calls Strategy (have only invested in all the Puts/Calls strategy for about a month). Performance year-to-date is outstanding (~75% on Spreads and ~71% on Puts/Calls as of Feb 14 2011). The service is great. Communication is great. CJ’s afternoon market review is extremely insightful. What makes this service… Read more »
Tom Broman
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Tom Broman
February 15, 2011 1:55 pm
I have been trading for 4 years and with Trading Options for Income for 8 months. This is by far the best newletter advisory I have found and I have traded some 15 newsletters and looked at a great many more. CJ Mendes is a very skilled trader and I trade both Spreads and Puts/Calls but mostly spreads. The website reporting is very clear and completely accurate..I have checked the trades with my Interactive Brokers statements to verify their reporting and it is perfect. CJ is also very responsive to client questions and the daily updates are very informative as… Read more »
Lou Blanch
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Lou Blanch
February 25, 2011 8:42 pm
I am a banker by trade and have little to no options trading experience. I was referred to the Trading Options for Income newsletter by my trader when I mentioned an interest in options trading. He gave this newsletter and CJ a nice recommendation and I was able to have their results verified by an independent service(pro-trading-profits.com). I am able to auto trade the newsletters recommendations and I have earned substantial returns over the last 11 months using both strategies. I would highly recommend this service. On the occasions that I have had to call in with questions, their service… Read more »
Paul S
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Paul S
April 1, 2011 5:11 pm
I am a subscriber for a year now. The service is profitable. I have abandoned buy and hold investing and in my search for a reasonable trading approach, I came across this service, which so far I am impressed with the results. In one of Mr Mendes’ daily updates, he said he hates risk and dislikes volatility, which tells me he takes a conservative approach to a potentially risky investment vehicle. This is what you want. Those who swing for the fences will kill you. Consistent singles is what you want and he has delivered that. Regardless of how you… Read more »
Bryan
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Bryan
April 8, 2011 1:28 pm
I’ve tried several different autotrade options services, and this is the best one that I’ve tried. I’ve been with him a year and a half. He has 2 strategies. Trading deep in the money puts and calls and trading spreads. He has changed his strategy for spreads over the years. As you’ll notice, in 2009, he had a very poor year for the spreads, but his strategy then was mostly iron condors. Now, he does only directional spreads, so when looking at his performance focus on 2010 and 2011. Performance-He does have some losers, but overall, he’s been solid. In… Read more »
Wilson
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Wilson
May 17, 2011 9:41 am

C.J is not helpful nor welling to accept other ideas. Very narrow minded and rude some times !
Regarding his signals, they are every where and no consistency nor discipline !
If you want to lose your entire account then join the service. the results posted are all false and made up to mislead people !
Avoid Avoid Avoid

Kent
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Kent
May 17, 2011 3:36 pm
This service employs 2 strategies, spreads and straight puts and calls. I subscribed in early March after seeing quite good results for 2010 posted on their website which I believed (and still do) to be truthful, though somewhat incomplete. I have been autotrading both strategies. March and April were up about 23% combined in both accounts but May so far has been a disaster with my accounts down about 50% from when I started. This service has been on the wrong side of nearly every trade on gold, silver, energy, and others. The problems go beyond just making bad trades… Read more »
Pissed
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Pissed
May 17, 2011 3:40 pm
I read all the reviews and even e-mailed one guy to ask how he like this service. he said it was pretty good. I signed up for the service and every trade Trading Options for Income did in May was a BIG looser. I auto traded so I could get a good fill. What a mess this guy is. He bought a GDX call and it went down so he bought again and then it went down and he bought again. Then he bought ERX ( 3X Energy Bull )and when oil inventory was up and ERX went down, you… Read more »
oilandice
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oilandice
May 18, 2011 10:00 am
When I first read the reviews the service was doing well and I was convinced to join. Although it was pricey I figured it was worth the expense. What a mistake my account on auto trade is down 50% in a short time. Thank goodness I allocated very small amounts otherwise I would have nothing left. Some trades make sense others especially the fact that every publication I read said the commodity run was over,he was still going for ERX,GDX,OIH get the picture? No one is perfect but everyone said to be cautious and he was not.If you join DO… Read more »
Disappointed
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Disappointed
May 21, 2011 12:15 am
Good news is that the record presented on the webpage is true, at least for the period I subscribed. Also customer service is very good, they are quick to answer and polite. However I was expecting some response to my comments on their trading style, which I did not get. In April/May I traded the Puts and Calls service with poor results. As described by other reviewers the timing of the picks seems to be a random guess without having any clue about short term market direction. To me C.J. seemed to be in a very bullish mood. So he… Read more »
oilandice
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May 23, 2011 9:36 pm

I subscribed in April because of the very good track record.
In just 6 weeks my account lost 50%. Although he seems very smart
his trades were risky and went against general market opinions at the time.Unfotunately I trusted him and autotraded my account away,thankfully I had small allotments or I would have nothing.
The service is expensive and not worth the risk.

STAY AWAY FROM THIS GUY CJ MENDES

Kim
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Kim
May 24, 2011 10:04 am

It is amazing what one month of bad performance can do. People are just so focused on short term performance and ignore three years of excellent results. Can you recommend a service that did better in the same period of time?

A comment to previous reviewers: if your account was down 50%, it means that your position sizing was way too large compared to your account size.

Bob
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Bob
June 6, 2011 1:17 pm

Mendes doesn’t seem to be right more than half the time. But worse, when a trade goes wrong he tells you to double up, and then when it goes further wrong he tells you to double up again. The result is that when the trade goes right you make a modest amount of money and when it goes wrong you lose a huge amount of money.

Robert
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Robert
June 8, 2011 9:34 am

Yes, he autotraded 50% of my capital away within a single month! And Bob’s right, he seems to be always trading against the market forces. 50/50 chances of being right, with losses being way more than winners. Just 1 month of losses would take an entire year to BE back! Very dumb of my to have left my account on auto-trade. Be careful!!
And… the monthly subscription is expensive! and the performance is terrible. Just look at the performance page and you’ll see how much losses inured. Random picks would have been better

Kim
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Kim
June 9, 2011 12:08 pm

Robert, if you lost 50% of your account in one month, that means your position sizing was too big. Looking at his track record, I can see 65-70% winning ratio, way higher than 50%. People are just too focused on short term performance and miss the big picture.

Mr. Sad
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Mr. Sad
June 10, 2011 9:33 am
I agree with Bob and Robert. Mendes seems to be too bullish for my taste. In his recent commentary he remains bullish. Mendes said “ In, fact, I was not aware that many Global markets are trading at the 150 day smoothing mechanism as well.” Wow, in what world does this guy live in? All the markets trade the same direction. When the Asian market opens lower, United States opens lower. All the markets are in synch with each other. He also likes to trade against the current trend. For example, he was bullish on Oil, while the market was… Read more »
Matt
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Matt
June 15, 2011 12:12 pm

I was a subscriber in April-May 2011. CJ does not want to admit that his thesis was wrong and rides loosing positions down, down and down some more. If you’re wrong get out or change your trade direction for goodness sake. Small profits and large losses. He also raised his prices if you auto-trade. $99 for each service vs $99 for both previously. There are better places to put your money to work.

Bigbelly bo
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Bigbelly bo
June 20, 2011 3:20 pm
These are auto-trades (copied directly from my broker account) that CJ Mendes of Trading Options for Income placed with my broker: ERX ($6,525.29) FXI ($132.89) GDX ($44,564.83) GLD $2,964.11 OIH ($35,760.04) QLD $2,514.10 SLV $1,404.42 SSO ($50.00) TNA ($1,631.41) UYG ($3,247.16) Total Losses $85,029.99 The loses took only 2 months. I was a fool to give CJ Mendes control of $80,000.00 of my hard earned money. He lost 106% of the account allocation which forced me into a margin call. And the loses would have been greater had I not gotten out of his most recent trades. He portrays himself… Read more »
Embarrassed
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Embarrassed
June 20, 2011 5:48 pm
I have a similarly upsetting experience during the past couple of months. When the market was moving upwards the profits were great. Once the market turned south, the picks remained very bullish. I think that CJ is indeed brilliant; however, he does have a serious problem by not being able to give up on bad trades (i.e. take smaller rather than consequential larger losses). I would’ve much preferred that he not make any trade alerts at all and rethink the market first. He seems to be compelled to produce frequent trade alerts rather than show enough discretion beforehand. I started… Read more »
Mr. Satisfied
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Mr. Satisfied
June 23, 2011 6:15 pm

Not sure what the problem is with all the above whiners! I have been trading their Puts and Calls service for several months now and the performance has been excellent! I think there is some sabotage going on here…year to date I am up around 25% after all costs.

I know the spreads strategy has not performed as well but at least these guys are honest and put out accurate and true results.

They charge $99.00 a month for all three strategies combined.

oilandice
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oilandice
June 23, 2011 8:29 pm

No whiner and no sabotage,the service is a fraud . If you have high expectations you better lower them.

oilandice

Bob
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Bob
June 24, 2011 2:42 pm

Mr. Satisfied, how much have you made on those OIH calls, especially after you were instructed to double down? Or on the SLV calls? Or the GDX calls? The problem with Mr. Mendes is that he doesn’t seem to know what a put is. He buys calls when the market is going up and buys calls when the market is going down. Since I started the service Mendes hasn’t recommended a single put.

Mr Satisfied
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Mr Satisfied
June 25, 2011 9:06 am

The service is profitable. How can you stand there and complain based on a couple of trades that lost money…What the about the other trades that have made money? You must not have much experience trading options Oilandice…

Stop whining. You are responsible for your own portfolio not the autotrade newsletter.

Ticks
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Ticks
June 27, 2011 9:25 am
Started trading their alerts in April 2001 and lost $18K within 2 months. They went giddy on OIH and GDX with huge losses. Here are my statement from TOS: YEAR TO DATE PROFIT & LOSS TOTAL P/L YTD: ($18,330.76) SYMBOL YTD P/L ERX ($1,556.48) FAS $250.00 FXI $140.00 GDX ($11,196.48) GLD $850.00 OIH ($7,835.48) QLD $476.26 QQQ $85.16 SLV $961.00 SMH $233.76 SPY $65.00 TNA ($465.62) UYG ($647.40) XLE $309.52 The results below says it all (TOFI Spread performance available at their site): OIH 04/06/11 – 04/26/11 -44.6% GDX 04/26/11 – 04/27/11 -92.3% GDX 05/11/11 – 05/31/11 +01.3% OIH 05/02/11… Read more »
Bob
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Bob
June 27, 2011 9:53 am

Mr. Satisfied, the trades that made money made a few hundred each. The many, many trades that have lost money have lost thousands each. I can’t believe you’re using the same service the rest of us are.

Kim
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Kim
June 27, 2011 10:59 am

Mr Satisfied, when you say “the service is profitable”, which time frame are you referring to? According to his performance page, the last few months have been pretty bad. He stopped posting the summary of the trades with average and total gains. I assume the reason was the recent losses. Spreads performance has been especially bad, with three 65-92% losers and four 40-50% losers. In fact, since April he had 10 trades, only two winners.

The long term performance might be good, but such drawdowns are unacceptable. They can wipe out your account pretty quickly.

Mr Satisfied
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Mr Satisfied
June 27, 2011 1:15 pm
I don’t trade the Spreads strategy just the deep in the money puts and calls strategy. The service is profitable in year to date and over the past 12 months. They trade a spreads strategy a DITM Puts and calls strategy and they are coming out with an ETF strategy next month. I have made money trading their system and I am up well above the market for these periods. Their trades are tracked by Pro Trading Profits by the way and are verified. They are 75 out of 100 trades positive for the Puts and Calls service. The spreads… Read more »
Ricky
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Ricky
June 27, 2011 1:28 pm
I have been a subscriber to CJ’s autotrading newsletter since January. I chose to go with them because their performance was exceptional and I had received a good review from my broker on CJ. The strategies were very profitable early in the year and I traded them both but was fortunate enough to cut back on the Spreads strategy around March and switch 100% to the in the money puts and calls strategy. That move saved me a bundle! The spread strategy is very aggressive and should only be traded by those who want speculative exposure. The in the money… Read more »
Kim
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Kim
June 27, 2011 2:50 pm

I guess it really depends when you started. It might be profitable in the long term, but the latest drawdown was pretty severe. In the P&C service, they had 60% losers in the last two months, most of them in 30-40% range, and just few small winners in the 13-17% range. Aiming for 15% winners and allowing 30-40% losers is not a good practice, even if you have 60-70% winning ratio. Didn’t you take those losing trades?

Mr Satisfied
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Mr Satisfied
June 27, 2011 3:23 pm
Kim, This is right out of their members site. The puts and calls recommendations are 36 winning trades out of 50 for the year. the average duration for trades are 6.4 days. the profit made on winners is $5871.00 versus losses of $3848.00. the average trade size is $1,126.50 per contract and commissions for this strategy are very low. I have traded everyone of these trades with the exact same results. I dedicate $5000 total to the strategy. Am I not seeing something that you all are?? Even considering the bad trades I am still up a good amount and… Read more »
Kim
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Kim
June 28, 2011 9:37 am

I think the difference is in timeframes. You are looking at the whole year, others look at the last 2-3 months. Depends when you joined, you might have different opinion. But the point is that the risk management is not good, no matter how you looks at it. When he had 70% winning ratio, taking profits at 15-20% was working very well. But in the recent months the winning ratio went below 50%, he still takes profits at 15-20% but lets the losers go to 50-60% (80-90% in the spreads service). Not a good practice.

Bigbelly bo
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Bigbelly bo
June 28, 2011 12:31 pm
Mr. Satisfied… You miss the point. The poor fool who signed up with CJ in the last quarter of the year would have lost all the money allocated…he is not going to have much confidence in CJ’s trading ability is he. Only a greater fool would trust a 100%+ drawdown. Doesn’t matter when one starts with CJ, or his trading history, drawdowns of this magnitude are absurd. Traders worth their salt never do this…never. If CJ is taking big losses, then he has a problem, don’t you Think? And the problem is simple: He is not defining risk. He isn’t… Read more »
C. Plosky
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C. Plosky
June 28, 2011 2:00 pm
Bigbelly Bo, You sound very angry and frustrated… The big losses you talk about are not stand alone positions but individual legs on a complex position. The percentage loss on the complete trades are not nearly as dramatic as you state. CJ has been on the wrong side of the market for seven weeks, I know for a fact he has been on the right side of the market much more often than not because you see, I have been a subscriber since 2008. For the same period last year, CJ had the following returns: 23.5% 30.2% 21.7% 9.8% -56.3%… Read more »
Kim
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Kim
June 28, 2011 2:44 pm
C. Plosky, What are talking about? What individual legs?? According to his own track record, those are the last 8 trades in the spread service: GDX -44.6% GDX -92.3% GDX +1.3% OIH -51.6% GDX -92.9% OIH-40.0% OIH -53.4% GDX -84.5% Each of those trades represents a full position, not individual leg. He just continued to double down even when it was obvious that he is wrong. Risk management is important in stocks, but it is even more critical in options because options have limited life time. You don’t have the luxury to hope that your position will recover. If you… Read more »
Bob
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Bob
June 28, 2011 2:55 pm
C. Plosky, I don’t know what you’re talking about — “individual legs on a complex position”. My biggest losses have been on straight puts and calls, nothing complex about that. (And even the spreads are hardly “complex positions”. The little bit you gain on the short side when the trade goes awry is small consolation for the large loss you take on the long side.) CJ uses deep ITM calls and puts. He typically takes profits when there are 10 – 20% gains. He holds losers to 50% losses or worse. So even if 60% of the trades are winners… Read more »
C.Plosky
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C.Plosky
June 28, 2011 6:54 pm
A bit of an exaggeration Bob. the service average loss for 2010 and 2011 is 21.7% and the average gain is 14.4%…(right from their website) I grant that the last few weeks have not been fun but the overall results over time have been very good. Kim, this service trades an aggressive strategy. If you roll your gains from month to month you are increasing your exposure exponentially… I look at their results from month to month rather than from trade to trade. It seems that the guys and gals complaining are those who got burned recently (and with good… Read more »
Bigbellybo
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Bigbellybo
July 8, 2011 10:39 pm
C Plosky , In response to your comment: “Man up buddy! You got greedy and put up more money than you could afford to lose. This is an aggressive trading strategy.” Plosky, my only motivation in taking the time to comment on this site is to shed some light on Mendes lack of professionalism, and possibly save some other fool some of their money. You say you’ve had success with Mendes. I do not doubt that. But, I did not have success, and though my losses are but a small portion of the total amount I have at risk, I… Read more »
Bob
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Bob
July 9, 2011 11:21 pm

No exaggeration, C. Plosky. I know what my losses were. I stopped out of the OIH calls and several other trades with a 50% loss or worse. For the past two months C. J. Mendes has been flailing around without a clue, buying calls when everything is going down and buying puts when everything is going up. There is no possibility of me getting back to break even with this service.

Salsa2hot
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Salsa2hot
July 17, 2011 1:29 pm

I auto traded with TOFI from mid March thru mid June. Like most of the above reviewers, I lost over 50% of my spec trading account before dropping them. The winning trades were few and usually for one or two hundred dollars.The losers were too frequent and in the one or two thousand range.
Menses ignored the market direction and traded emotionally. He ignored or doesn’t understand the Greeks. I suspect that a career change is in his future.

Carl F
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Carl F
July 19, 2011 7:21 am
Joined their Newsletter 8 months ago and I am very satisfied. There were some ugly trades recently but the month to month results are still very good. Here are the results as outlined in Pro Trading Profits: Start Date 1/1/2010 Service Months 19 Trading Months 18 Total Net Profit/Loss $28,101.91 Average Annual Profit/Loss $17,748.57 Average Monthly Profit/Loss $1,479.05 Profit Factor 2.42 Maximum Consecutive Wins 8 Maximum Consecutive Losses 5 Total Trades 101 Number of Winning Trades 68 Number of Losing Trades 33 Average Gain per Winning Trade 25.2% Average Loss per Losing Trade -27.5% Deviation Ratio 4.79 Largest Winning Trade… Read more »
Chen T
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Chen T
August 26, 2011 5:38 pm

Please read all the negative review to realize what can happen to your hard earned money! My balance was $32,000 in April 2011 when I started autotrading with CJ exclusively. In 2 months my account balance was $12,000, lost over $20K. You are better off trading ETFs than handing over control of your money to CJ.

sameck
Member
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sameck
September 28, 2011 1:48 pm
First, it should be noted that the strategies have recently changed for this newsletter. There is now an ETF strategy (straight buy and sell recommendations) and an options strategy (comprising a mix of the old spreads and puts/calls strategies). Also, if you chose not to autotrade the service you now get a discount. I started with TOFI in the spring of this year based on reviews here and based on the published results of the newsletter’s performance over the previous 2 years. (BTW, these are the actual results). Initially, I autotraded the account but the broker I was with decided… Read more »
Steve Meckling
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Steve Meckling
January 3, 2012 2:45 pm
I wanted to take the time to follow up on my previous review. I have upgraded the overall rating for this service since my original review at the end of September last year. This is due to the more consistent performance I have experienced in the preceeding 3 months. Back in September I was hovering close to the break even point after a tough summer of trading. (I had started with the service in the late spring of 2011). Since that time the account I use for trading this service is up 25% since I started in the spring. That… Read more »
forcheetah
Member
1
forcheetah
September 25, 2014 1:34 am
I actually got this options for income course recently. I do not get any strategy or position management help, or recomendations as people say they get. Anyway, I have had extreme success with this system. It requires a lot of adjustments on certain positions at times, but I average between 20-40 percent on 90 percent of my positions. I actually keep positions small because when you adjust, it is important to exponentially add contracts usually. I averaged thus far no less than 3000/month since I reached the 25k account size. I started with less than 5K. Recently, I not only… Read more »
Jorge
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Jorge
September 1, 2016 6:57 pm

How about now?

options for income
Member
3
options for income
January 20, 2016 10:07 am

Jim Fink appears to be a smart fellow BUT and a “VERY BIG BUT” he is intolerant moody and very selective in who he chooses to respond to in his stock talk.
many of his recommendations end up in potentially extremely potential compromising situations and yet he refuses to comment to questions of concern. He is intolerant and appears to be moody . So unless you are willing to be one of those suck-up clients . stay away.

kingsley
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kingsley
October 8, 2016 1:04 am

Who can give me an honest opinion today if I should join Trading Options for income. I have never traded a single day of my life.

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