John Jagerson and Slingshot Trader?Has anyone used his service? Info on Slingshot is elusive. Jagerson certainly has the quals. Want to try but can’t find a review on his service. Thanks.
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I recently took the trial. Lot’s of big winners and big losers. Overall about a break even.
The losers (and winners) could be 4 or 5 in a row, so if you start at the begining of a losing streak, you are in bad shape.
i have tried their service for more rhan six months with terrible results. I did not know much when I started. Lost more money than I ever made with them. As i learned more and more and got experience decided to get out. They gave me the feeling that they have no idea, for example, about entry points to a trade. Seems they recommend based on a micro scale (short time chart section) technical analysis without looking at a longer term price chart and identifying price trends. Often they recommend a call when a stock has been climbing for some time and is going to have an Ex dividend day soon. Naturally stock declines for a while and the call option never recovers when the stock price starts to go up again. If you don’t take a small loss asap and get out losses could be 100 %. Occasionally they hit a good trade but for the last six months it has been on a hit-or-miss basis. Trester’s service did not turn out to be much more successful either. I got out of that also. Hope this review helps people who read reviews. Best regards.
Services such as Slingshot Trader and/or Power Options weekly might be beneficial only if you have your own set of tools to follow the market short term and long term trends. I have used these types of services to help identify companies for either short or longer term option opportunities. I use Elliott Wave International services to help determine when to make my option trades whether on my own or from other services. I have traded options successfully using the above services but only if they time well with my Elliott Wave analysis. Often times this means entering a trade at a different price point or in a later time frame. The trading services are beneficial primarily for saving time on researching companies to select for option trades. Combined with my services with Elliott Wave International has led to 85% successful trades. The other 15% is primarily due to my own errors or impatience.
Have not been using as long as you but same typical results.
In the last several days I saw an eye and attention grabbing teaser cartoon drawing type pitch for a newsletter promising consistent high returns but lost the ad and email link. Can anyone else point me in the right direction?
pah3@pah3.us
I dropped out of Slingshot after 2 months. There are more losers than winners while I was in.
I am glad I only follow a couple of times or I ‘ll end up pretty upset.
Tom essentially has it rights. They usually have 2-5 trades active at any one time. The idea is that you commit the same % of your portfolio (roughly 4 %) on each trade, consistently. These are all short term option trades (simple puts & calls), rarely more than 2 weeks in duration, usually less. The trades are trying to capture the big moves in implied volatility usually associated with ‘close to the money’ trades close to anticipated news events (mostly earnings releases). They admit to ‘guessing’ wrong nearly half the time. The trick to the success in their system is that you can never lose more than 100% (usually much less) on any one trade but can make well more than 100% on the big winners. It makes consistent trade sizing imperative.
Steve, thank you for your review. which unlike the other posts is succinct, specific and helpful. To take it a step further, have you actually followed his recommendations, either on paper or with investments? If so, what kind of profit or loss have you experienced? Are the results claimed in his ads true, false, or simply selective? Also, what would you recommend as a MINIMUM amount of cash available to follow his system? $1k, 3k, 5k, 10k? Thanks! Harry – hscenter@cox.net
OK. Thank you. After reading this and the other comment s from users, I just saved at least $39, and maybe more. Fraudsters!
Thanks for all the feedback on Slingshot…I see more negative than positive so I will not waste time with this one.
Slingshot trader…wow..it was like a slingshot for sure. Placed every trade they recommended for a few months and we only hit 2 of the many we traded. I ended up down 4000 in a few months. They send notices to sell to reinvest the money somewhere else…problem is the notifications come when you are already down 79%. On the few we collected on, there were so many people dumping that the spread between the bid and ask got huge and only netted about 150 dollars on each even though it showed up 1200 on my trade page. Price seemed right…but not for tons of losses. I would recommend “(re)investing your money elsewhere”.
I got an e-mail from Slingshot Trader showing great profits on a weekly basis. The flyer sounded good and I liked the leverage of options, so I signed up for $39 and got an extra month for free. I went to the site after getting the login info and immediately went to the closed trades for this year. After running all the P/L for each position the totals for this year were a -177% and last year were a -837%. So for the last two years if you were to buy everything they recommended you would have lost (-1014%). That does not sound anything like the ad I received. I immediately wrote the contact info and canceled my subscription and asked for a refund. Since I had been on their program for about 1 hr, I assumed they would comply. NO – I got an e-mail back saying there were no refunds based on the service I subscribed. I then called their number and was passed up the the manager. I explained the infomation they were selling was bogus and demanded a refund. She said since there was nothing explaining a refund policy in the ad, then all sales were final. I told her that must be the only way they can make money is by publishing misleading claims and then not refunding the money to subscribers when they discover there is no possible way to make money using the trade recommendations they offer. She said they do not control the advertising and there are no guarantees in the stock market. What a load of B.S.! STAY AWAY FROM THIS SLIMY NEWSLETTER! Next call is to the credit card to cancel the transaction due to fraud!
Thanks for the research with their closed positions. It objectifies the results.
I used them for a two month trial and they were awful. Mostly losses with an a winner here and there. They were trying to bet on earnings which is a tough thing with options. I would stay away. Make sure if you use them don’t put your account on auot-renew.
Guys, thank you for this great info, saving me time and $39 bucks.
All of the above is one reason I continue to subscribe to S G; the comments and reviews from actual users is priceless! I’d seen their teaser, and was considering giving their service a try. Glad I didn’t! I’ve been trying Schaeffer’s “Options Under 5$” and having reasonable success with it (more wins than losses). Another pretty good one is “Phoenix Options”, but you need to react quickly most of the time to get a good return. If you can read the option chains in most trading platforms (I use ScotTrader Elite – that’s where my IRA is), you can sometimes get a good result even if you’re a bit late. A smartphone is probably a good investment, especially if you have active plays. They both run about $800 per year, but Schaeffer only requires one quarter’s fee at a time, and you can cancel whenever (or at the end of quarter, anyway). Hope this is useful to someone.
Jerry, thanks for the feedback. I did subscribe to Sling Shot I had 3 wins and so far I have about 6 losers, which i’m still holding onto. I am quickly loosing faith in them as well as a few other newsletters that I have tried. It sounds like you like Schaffer ? that is one I have been looking at lately. Have you actually entered many trades. Would you mind sharing how many winners and losers you have had ?
Thanks,
British Brian
Thank you all. These comments are extremely helpful. Thank you Stock Gumshoe! I read the teaser e-mail and it sounded worth a try. Glad I read your stuff before wasting $39.
What a great site/resource Stock Gumshoe is! I had actually completed the registration form for Slingsh*t Trader when it dawned on me that I should check the reviews first so I deleted the form and came here. Wow! What a money and time saver! Won’t waste my time with them and I hope Dave was able to get his credit card company to stop the $39 charge for that bogus service. Thank you again S.G. and everyone who posted helpful comments!
I would rather have Gumshoe comments! Thanks.
Sorry, don’t know this one at all and have never looked at his ads.
Hi Travis:
May be you can help identify $5 chip maker. Market cap $405 M. Listened to Chris Versache long speach on connected home interctonectivity an this chip beeing in most home electeronic devices allready And will be bougt out by CISCO and other companies needing it.
Thanks
I’m really a dick. I posted under #9 but I still subscribed last week. I was distracted or hoping to get rich easily. The post #7 from Dave is SPOT ON. If history is a guide, you can’t make money with this service.
I joined…without searching internet. Looked at their track record…which they’re stupid enough to post. Lost in 2012 and up less than 1% (not even accounting for commissions). I asked for refund right away (within 1hour) … quoting what lies they told on their sales pitch … they refused. Contacted Credit card company… which asked for documents…but before I could gather any..they reversed the charges. I guess investorplace or someone is well known to the CC’s.
Thank you so much for all the great advices and comments. I saved the loss of $ 39.00 and several thousand more later.
Looked at their pitch and like many I thought for $39 it was worth a try. Thanks to all the comments on Gumshoe, I saved at least the $39 and at lot of aggravation. Thank You!
Are there any newsletters out there for option trading that are worth subscribing to? I’m glad I found this site as it has stopped me from falling to the copywriter & marketing spins of some many of the newsletters that have bad reviews on this site.
Thanks
Thanks for the info after reading these comments I think I will pass. I will stick with Mr. Carter where I started.
who is Mr carter?
I think he is referring to John Carter at http://www.simpleroptions.com/. John is very good and I’ve learned a lot from his courses. However, he doesn’t give you the exit strategy that I think is critical – it’s an extra course on how to handle loosing trades. His squeeze indicator in my opinion is a must on every chart, every time frame. Find a squeeze with a low ADX and you have found a highly probable trade that will work out if you follow his direction.
I, too, have taken many of John Carter’s courses. His style fits my style of trading and I echo the sentiment that the squeeze indicator (free in ThinkOrSwim) is valuable on all timeframes. Start with his free emails to see if his discussions and ideas fit your trading style. Why pay for something if it is not going to work out? His staff is very responsive and professional. I also like the other traders he brings in and works with but I will leave it to you to research their names and styles (all available on his simpleroptions website. My comment is not a sell, just my opinion.
I’ve followed Carter for years – subscribed to one of his options trades alerts service for a few months. Tracked all of his entries and exists – he invested $39K – but I could only identify $29K in exits. Checked the numbers several times. Never bought anything else from him (except his book) – but watch his free market overview webinars.
He seems to be mostly selling his indicators – almost a new one every other month. His Squeeze theory (Keltner channel inside Bollinger Bands) was addressed (but not by the Squeeze name) in research by Tom Sonsnoff of Tasty Trade (who created Think or Swim), who found it didn’t work in backtesting. Same results in a research paper referenced by CXO Advisory.
Carter’s stuff is overly complex unless you want to buy all his indicators and sit in front of a monitor all day. Also – he has brought on a bunch of associates with shallow backgrounds (many of whom only studied under him) who are now all touted as trading gurus.
So I find his market overview webinar briefings to have some value – but little else there. You mileage may vary.
More on the Squeeze –
The Squeeze is the central concept of Bollinger Bands®. When the bands come close together, constricting the moving average, it is called a squeeze. A squeeze signals a period of low volatility and is considered by traders to be a potential sign of future increased volatility and possible trading opportunities. Conversely, the wider apart the bands move, the more likely the chance of a decrease in volatility and the greater the possibility of exiting a trade. However, these conditions are not trading signals. The bands give no indication when the change may take place or which direction price could move. John Bollinger suggests using them with two or three other non-correlated indicators that provide more direct market signals. He believes it is crucial to use indicators based on different types of data.
This is the second time I’ve checked with Gumshoe on a ‘too good to be true’ offer. This time it was an offer on Sam Collins page for Slingshot. After reading the comments here I have no intention of taking them up on their $39 offer for a month with another month free. Thanks to Gumshoe for providing this service. …