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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Can anyone recommend any option newsletter or advisory services that are worth subscribing to?
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 his training – it is down to earth, doesn’t get into the greeks and gives clear ideas. When a trade goes against him he ‘rolls’ it into the next week or the next month. About a third of the trades so far have been rolled but ultimately were closed with healthy profits. My account has grown steadily since I’ve been with him. Just recently, I’ve signed on to a full year. I’m also taking on my own trades based on his training. Remember, if you roll the loosing part of a trade into a winning trade then it’s a win. IE: Loose .50 this week but then turn around and gain 1.10 next week. The overall position has a net win of .60/contract. Look at his track record. Ultimately, every trade has ended up being a winner. Trade size management is important of course. Check him out. I get nothing for suggesting his service. My goal is to be on my own full time after the end of this year of service I’ve signed up for. Time will tell.
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.
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 $103 and receives market price of $107.44 rather than the exercised price of $103 resulting in a $500 gain rather than $400 loss that it should have been. e.g. 2: TSO (video3, 9:06) duplicates an entry on 3/21/16 Selling 200 TSO for $17,184 credit which “turns” an actual negative balance of -$17k into a break even. This also highlights the major issue with the strategy, TSO dropped from $112 to about $70 in early 2016, and whether you are writing calls or selling naked puts, if you don’t compensate for the drop through some form of mitigation, you’ve lost $42/sh in underlying asset value. So in their showcase example, rather than +56% in 6 months as marketed, it was really about -40% in 6 months. A lot of writing calls / selling puts will be required to make it up, if ever.
The only reason why I even bother mentioning this, is that I pointed these errors out to them and they replied saying essentially they didn’t care because customers like their service. Maybe in an uptrend. Buyers beware!
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.
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 their performance also is nothing close to what they claim in their marketing.
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 next. thanx for everybody’s comments.
I have been reading at SeekingAlpha.com for some time now. Excellent site.
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.
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 be more misses. Don’t waste your $39 & lose your investment from their hit or miss recos. Seriously if they are that good, why wouldn’t they give you a true free 1 month trial period?
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.
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 is to enroll in autopayment of $49/month. On the offer, it clearly says auto-payments are NOT refundable. So…given the trading strategy, and their failure to respond to my attempts at clarification, I passed on the offer.
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.
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 .
Thank you Mike for this review. I just have an offer from them sitting in my email to join them for $39. And this is the reason I am here doing a search on reviews of this trading service. Thanks again, Iris
I see slingshot is not being advertised under investorplace which is a mass marketer. I feel that many sites that have to go with mass marketers do so for one reason, they feel it adds credibility. I agree the sites results are poor and that is based on trying the service more than once and I doubt the addition of investorplace has changed anything at all. h, you will get those add on booklets for FREE, so something has changed I guess.
Well I’m glad they only got me for the $39 initial signup fee. The answer here is VERY simple to find out and pretty black and white. Once you subscribe they give you access to their complete trade records for the last 5 or so years, all downloadable as CVS files and easily imported into a simple spreadsheet program. Had they given me this option before signing up I never would have wasted the $39. It took less than 2 minute to download the last 5 years of trades, import them into GoogleSheets, and do a quick average on the “Returns” column. What do you find? The best year they’ve had in the last half decade was 2015 where the result was a whopping 0.5% return. You read that right. Zero-point-five-percent. And that is a startlingly good return for them since every single other year in that period they have posted a negative return, sometimes upwards of -7% annually! And that is BEFORE you factor in the commissions on the trades! This is not complicated math they are trying to hide form their subscribers. This information is available within 2 clicks of their homepage once you subscribe. And it is not murky, complicated math. Consistently investing the same percentage of your portfolio in their picks will lose you money. Period. Keep in mind they got these results during one of the most bullish markets in the last century. The S&P 500 has nearly doubled over that span. You would be better off sticking your money in a savings account at your local bank than following this “system.” Hell, you’d be better off sticking it under your mattress. Run away.
Everything you say is completely true. I bought their sub over the weekend and did as you did, downloading their entire history only to get the same results that you describe, 50% winners and 50 % losers and a net cumulative negative return. I only wish I had googled stockgumshoe first as I usually do instead of TOTALLY wasting the $35. Even though I hadn’t even received the first recommedation e-mail from the they still refused to refund the $35. This has to be one of the worst services I have ever looked at.
i am in Motley Fool Options. So far I think it is good. Pretty transparent. No trickery that I can see. Pretty conservative which is OK by me. Writin options is the way to go for me. I receive income. I only buy options for stocks that I would want to buy if the stock goes below the strike price. Usually option expires and I have received income. Kind of conservative and boring but it does provide an income stream. I stay away from straddles, diagonals, and synthetics. Those are a little risky for me at this point. The Motley Fool Options only trades option on stocks it recommends.
Ironic that the Fool is all about options now, since for years they told everyone that options were dangerous and a bad thing to get involved in. I believe the Gardner brothers are extremely knowledgeable about the stock market but I also think they are sellouts like every other marketing outfit.
I meant to say sell options (write), not buy.
It doesn’t seem like there’s any option buying services that are consistently profitable, probably because buying options is pretty much a losing game. You’re going against very smart people who sell those options, and they don’t sell at a price unless they feel they have their risk priced in. It would seem from the big losses that SlingShot (and other services) have consistently, that one could take the other sides of their trades and be profitable. Just use a 100% stop loss on the sell (and perhaps avoid trading through earnings announcements, where gaps can happen), just as you’re effectively using a 100% stop loss on a buy (i.e., total loss to expiration). Of course, your margin requirements for selling options will be much higher.
Enough about LOSERS — does ANYBODY know of any winning stock picking sites?
Lee, Stock Gumshoe and it’s members (the Gummune) are invaluable sources of information as well as tipranks.com @tipranks Best2You-Ben
I subscribed to Certus Trading (www.certustrading.com). Matt Choi teaches 8 different strategies to trade the options market. It is way more than just buying and selling calls and puts. He has patterns that he teaches you and gives you scans you can input into trading software to find good stock set ups. He likes butterfly trades. I have made money and am very impressed with him. Take a look at this site.
Greg,
thanks for your post. Would be very interested in hearing more about your experience with Certus. I am considering joining.
Greg…
Can u please give us an update on Certus Trading (Matt Choi).
I have looked at his pre-recorded pitch (webinar) on his AOSB that comes with a 6-month alert service and 1 hour 1-1 phone call. I ama very much interested in his program, but cannot find any reviews here, except your comments. can u please give us an update here on your experience with Certus for the last 1 year? or email me at brucesjun@gmail.com?
thank you…
Greg,
Have you used his “profit schedule” or historical record of certain stocks yearly behavior? Has anyone had a problem using the 30 day money back guarantee Certus offers?
I too would be interested in more info/reviews on Matt Choi. I just watched his 1 hour presentation on seasonal pattern trades last night and he seems like a legit service, but- so do many of the others who turn out to be scammers or just BS artists.
Greg, are you still using Certus Trading and how are you doing?
Thanks for steering me away from SlingShot! Since a number of commenters asked for recommendations on good newsletters, I thought I’d mention CML Pro (Capital Market Laboratories). It’s not an position entry/exit service, it just gives a lot of valuable in-depth insight on what’s going on with mid to high cap companies, and you can do what you wish with it. They also put out alerts regarding important events with companies. It’s really good stuff, especially for $10/month. In the two months I’ve been with them they have provided me with info that has paid for the subscription for the next 10 years or so!
Not happy. Not very good results. Look elsewhere.
Tried their service.Took their first 3 picks-all losers.No thanks to their “picking” talent.