written by reader John Jagerson and Slingshot Trader?

By tbone3506, August 5, 2012

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.

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

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Tom
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Tom

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.

erk erginer
Guest
erk erginer

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… Read More ยป

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Mike Nelson
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Mike Nelson

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… Read More ยป

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Rich DeLong
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Rich DeLong

Have not been using as long as you but same typical results.

pah3
Member
๐Ÿ‘12
pah3

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

luiwea
Member
๐Ÿ‘11
luiwea

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.

Steve
Guest
Steve

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… Read More ยป

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Harry
Guest

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

busterbazgmail
Member
๐Ÿ‘9
busterbazgmail

OK. Thank you. After reading this and the other comment s from users, I just saved at least $39, and maybe more. Fraudsters!

tom yudeik
Guest
tom yudeik

Thanks for all the feedback on Slingshot…I see more negative than positive so I will not waste time with this one.

Bob
Guest
Bob

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… Read More ยป

Dave
Guest
Dave

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… Read More ยป

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lizajt
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lizajt

Thanks for the research with their closed positions. It objectifies the results.

silverfin
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silverfin

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.

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Dick
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Dick

Guys, thank you for this great info, saving me time and $39 bucks.

jnginabq
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๐Ÿ‘7
jnginabq

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… Read More ยป

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Brian Noel
Guest

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

Thomas J. Bates
Guest
Thomas J. Bates

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.

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Gene
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Gene

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!

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donk
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๐Ÿ‘2
donk

I would rather have Gumshoe comments! Thanks.

Travis Johnson, Stock Gumshoe
Admin
๐Ÿ‘13679

Sorry, don’t know this one at all and have never looked at his ads.

alexm28
Member
๐Ÿ‘1
alexm28

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

Dick
Guest
Dick

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.

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chunks
Member
๐Ÿ‘5
chunks

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.

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Lee
Guest

Thank you so much for all the great advices and comments. I saved the loss of $ 39.00 and several thousand more later.

ken07460
Member
๐Ÿ‘5
ken07460

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!

MarkB
Guest
MarkB

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

Robert L
Guest

Thanks for the info after reading these comments I think I will pass. I will stick with Mr. Carter where I started.

Juan
Guest

who is Mr carter?

Dan Iverson
Guest
Dan Iverson

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.

Douglas
Guest
Douglas

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… Read More ยป

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A.J.
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A.J.

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. …

MarkB
Guest
MarkB

Can anyone recommend any option newsletter or advisory services that are worth subscribing to?

Dan Iverson
Guest
Dan Iverson

I would look at: http://optionsincomeblueprint.com/. Michael does a good job in the training. Basically, he gives a couple of alerts a week. Like a recent alert was: Sell to open BTX 33.00 PUT at .50. By the time I got the alert it was at .45. I create a spread out of his trade. Usually, I look for a PUT at .05/contract to allow me to not have the PUT be naked. So my trade was -33.00 / +30.00 @ .45. I took the trade and it expired worthless which means it was a nice winner. I really have enjoyed… Read More ยป

Frank
Guest
Frank

Thanks, Dan for your information about the blueprint system. I’m looking around a while for a system with low risk and consistent income. He has a “Black Friday-Sale” with $49 for two months and a lifetime discount on the newsletter of $20 ($79 instead of $99) per month.

I’ll try to found some more information about this service in web and if I’ll not found such bad reviews like for Slingshot Trader here, I think I’ll try the Blueprint System from today with their special offer.

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Al
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Al

Be very careful with Shulman/Hutchison Blueprint and Perpetual Income Engine. When selling Puts (naked or cash backed) or writing covered calls there is considerable downside risk potential if the underlying drops in value. This service doesn’t seem to offer any risk mitigation strategies, no rolls, no close early, no hedging, no technical/timing analysis, nothing, other than just keep on selling calls/writing puts. And if you look closely at the marketing video for Perpetual IE on their site, there are 2 major “errors” that basically make bad outcomes look very good. e.g 1: EXPE (video2, 21:00) covered call gets exercised at… Read More ยป

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nidified
Member
๐Ÿ‘2

Before doing anything I came here first. I was tempted, “Turn $39 into $10,000” read the ad. One free month, how can I go wrong? Thank you again Gumshoe!
NO free lunch.

farhangp
Member
๐Ÿ‘2
farhangp

Aparently Ken Tester has good performance record! Bernie Schaefers research is good from time to time, but he has too many different options services out of which the only consistent one is the conservative Wealth Builder which is based on Options. Spread.. Hope it helps. i too was taken by Phoenix leter and otions and charged for both services after the 60 days trial. I was just one day late in cancelling the trial, and they refused to cancel and refused to refund even prorata basis. Phoenix Options services has the worst ethics when it comes to cancelation refunds and… Read More ยป

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james
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james

after subscribing to slingshot for 3 months for $70.00, i only used their recommendations once, and that was only on the underlying. i did not use their entry of a month earlier or their exit before an earnings release on krispy kreme donuts. i did make over $300 on 3 ccalls, however. but, most of their underlying picks are weak. too weak for me. i have also tried schaeffers, but he either prefers deep in the money or weekly options, neither of which suits me. maybe slingshot just needs to mature and be honest. maybe i’ll try tester or cabot… Read More ยป

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busterbazgmail
Member
๐Ÿ‘9
busterbazgmail

I have been reading at SeekingAlpha.com for some time now. Excellent site.

Dan Iverson
Guest
Dan Iverson

Thank you for the comments on this $39.00 crud of a service. I’m always looking to expand my knowledge. Something told me this was not the service.

Investor
Guest
Investor

Slingshot Trader is full of crap. Their ads are totally deceptive. There is no refund policy. Their “1 month free” means you pay for a month & get 1 month free. It is not a trial period so even if you decide against it after 1 day of examining their website, they will not refund you anything unlike most investment publications which do have a full refund trial period. I tried getting a refund after 1 week. Guess they need to keep the sucker’s initial money because If you look at their success rate, it’s hit or miss, appears to… Read More ยป

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DL Hawk
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DL Hawk

I just finished an introductory offer with Sling Shot Traders. The result: 12 losers and 2 winners. Down about $3000. Their performance is so bad that options usually start losing money immediately. The best use of their recommendations is to use them as contra-indicators. Please stay away if you want to have any chance for trading options successfully.

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Archie Collier
Guest
Archie Collier

Trading options around earnings reports is always extremely risky- due to implied volatility crush. Risking more than 1% of your portfolio in a single options trade is also considered taking unwarranted risk. but- regardless of my ‘rules’, I declined the Free month trial, because I emailed (replied to their emailed pitch) asking for a return email explaining how to cancel the auto-pay if I decided the service wasn’t a good fit for me. My email bounced back, delivery failure. I called them to get same information, got voice mail tree. The ONLY way you can accept the 1-month free trial… Read More ยป

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Mike Park
Guest

I paid for 1 week trial and got access to website and results for closed trades which was a downloadeable spread sheet. When I did an auto sum for the list of trades on the % gains, it was a real eye opener.

Mike Park
Guest

I paid for 1 week trial and got access to website and results for closed trades which was a downloadeable spread sheet. When I did an auto sum for the list of trades on the % gains, it was a real eye opener.
2015 YTD total gain neg 721%
2014 year neg 2542%
2013 year neg 1415%
Ken Trester is the man behind Power Options .

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