Any thoughts on Chuck Hughes / Tradewins?Here is the latest one I’ve received:
4 minutes to prove $7million profit, 96.79% accurate
4 Minutes To Prove It’s Real – Over $7 Million in profits and 96.79% Accurate!
Lifetime Income System
WOW… That’s one heck of an opening line!
And in this video you’ll get to examine actual account statements proving the reality of this incredible vision of mounting wealth…
The first week paid $4,831.20… then $6,755.36 in week two… week three paid $10,698.36… $12,295.20 in week four… then $13,697.46… and that’s just the beginning!
The income “snowball” you’ll witness in this video has a 96.79% win-rate and has produced a gross income of $7.485 Million over the past five years.
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And you won’t believe how low-risk, quick, and easy it is to do! Why not click on the link below and see for yourself?
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If you can spare just 4 minutes, I’d really encourage you to watch this Lifetime Income System video. Believe me; it’ll be well worth your time. Click here now.
Sincerely,
Terry Walker
PS Click here to download a free 122-page ebook… loaded with illustrations, notations, and actual trade records… showing step-by-step how you can easily turn a little-known trading “loophole” into a sizable weekly income. Click here now.
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Chuck Hughes is a pure SCAM ARTIST and a crook! I bought his book and DVD (neither of which had anything other than a bunch of bullshit broker statements from ten years ago) and a few hours later get a call about his exclusive advisory service. $6k for 1 year or $8k for two years! If I could tell myself now to save that money I would but I made the biggest mistake of my life bought the 1 year. Every trade he put out was pure garbage and caused me to lose upwards of $25k in the first 4 months. When I brought this to the attention of his staff they pointed towards their disclosure agreement and no refund policy. He is an absolute scum. Stay far far away.
I bought chucks book off of CNBC. I did learn a couple things from it but some of the examples they used for trades can’t exist. I also received a sales pitch brochure in the mail to join his inner circle. One of the trades he shows on page 10 of the flyer was a market neutral calculator showing a costco trade. It shows the stock price at $119.42 and if you were to buy a 115 call strike you would pay.21 cents and you buy a 120 put for .21 cents. It shows that if the stock stays were it is you would make a 1090.5% profit. And if it goes up or down you would even make more. Looks to me like they fudged the number for the 115 strike. It is impossible to pay that little for that contract cause there is $4.42 intrinsic value to that contract alone. Looks like creative math to get people to pay them 4-5k. I was going to try there system as they wanted 5k but was reluctant to put 5k on my credit card. Thank god i did not after seeing the numbers in the flyer and all the bad reviews online my suggestion is stay away. It sounds like a rip off to me.
william schott, from reading many posts such as yours, I am going out on a limb to make a guess at what happened. Chuck is surrounded by marketing people. My guess is that “team” hires a copywriter to produce the flyers that you spoke about. It would not be a far stretch of the imagination to guess the copywriter did NOT understand the subject at all. They do not know their arse from their elbow so to speak. Intrinsic value, extrinsic value, whats the difference, just fill in some numbers and hit print. Ditto for the “team” in the office, I will speculate nobody is assigned to proofread. This is sad because I still believe that Chuck Hughes is an OK guy and a GOOGLE search will tell us he really did the things he claims winning the trading championships.
I believe that you could certainly be correct, Jack. I am not great with my grammar, but I certainly noticed that the ebook “Hughes Option Strategies” had NOT been proofread very well. There were areas that completely repeated information from previous pages.
I felt that something didn’t “smell right.” This team is supposed to be professional. Some people are putting thousands of dollars into Hughes’ pocket. I would think that the quality of the writing should carry some weight. (Aside from the fact that it made the reading, rather confusing)
One of Chuck Hughes’ suggestions is to create synthetic covered calls using options..ie he buys the ITM usually 95% Delta and will sell around the money or ATM receiving all time value, not a bad strategy but he fudges the numbers a lot per Williams S post. But he has not done well since our slight pullback started in Jan. The last few months his recommendations have been losing cause covered calls do not work in a downtrending market esp. while the chosen equity is also in a slight downtrend. It’s important to know when and where to enter your position. Usually that would be at support or resistance zones with market trend and your chosen equity following that trend. . More importantly, to determine which of theses zones are a quality strong zone vs a weak or ‘just another resistance or support zone’ which you ignore. Moreover, candlestick patterns don’t matter until they come into these zones. I canceled a monthly service with C Hughes because he was buying calls on pullbacks in our current downtrend which is not working. If anyone is thinking about putting out 5/6K it should be invested in yourself and get educated on how to identify quality zones and trends.
I recently tried a trial subscription to one of his advisories recommending debit spreads. it’s advertised as being 90% accurate. So far it is barely 50%. I am up on his recommendations; but only because I didn’t take all of them. Some of his picks tanked all immediately and there was no advice from Chuckie as what to do now. Most of the advisories I work with come out almost immediately with advice if a recommendation starts going bad. I notice he shows a track record going back to the market bottom in 2009; how nice to just happen to pick the bottom. This guy needs to spend a lot more time analyzing and less time marketing. Don’t buy his stuff.
Look guys – if Chuck Hughes (or any of these ‘amazing’ guru option traders) has such a fantastic system, making 5 figures/month trading options – WHY THE HECK WOULD THEY WANT TO SELL IT TO ANYONE? They wouldn’t – they would keep it to themselves – accumulate a multi-million $$ nest egg and move to Hawaii or buy some deserted island and live like Sir Richard Branson!. I have been fairly successful being an options seller, but it took a lot of trial/error, patience and willingness to take risk and accepting losses – and YEARS of trading – some successful, some unsuccessful. It definitely has NOT been a ‘get rich quick’ experience and my profits have been modest – nothing near what Chuck Hughes brags about making in his ads. It is NOT something I would be comfortable sharing with others, nor asking then to pay me to teach them how to do it because it involves a lot of risk, especially in the beginning when you are getting started and learning how options work and behave. That is how I know what all these so-called option gurus are peddling for $thousands/year is ‘snake oil’. They know that options trading is risky so they demand $ thousands/year for subscribing to their services. They know that selling a subscription has 100% profit and 0% risk of loss so why would they want to risk money on losing option trades when they can make millions by selling expensive trading advisory subscriptions to desperate or greedy folks who fall for their promises and hype? Yes, I’m sure Chuck Hughes has achieved great financial success after he stopped flying for a living (if that is indeed what he previously did for a living), but he did that by becoming a master MARKETER, not a trader – and achieved that through SELLING expensive subscriptions. As many have described here, once you sign up and pay Chuck your $5K fee, you can kiss it good-bye because he will never give you your money back (unless maybe you hire an attorney to sue him?). That’s how to easily distinguish the legitimate investment advisories from the scammers – the legit guys will offer you a 30-90 day ‘no questions asked’ refund. Those that are out to rip you off, will not, and have some convoluted refund policy that requires you to trade the system for 1 year and send in your trading records that show you did not achieve the same results the guru did. Of course, you know how that works –
they will say you did not follow the system exactly, time the trades exactly, blah blah blah. So no refund – period. We’ll give you another year of this ‘wonderful’ trading service (of course, you will just lose more money and go deeper in the hole). As others have suggested – it is possible to be profitable as an options trader, but it is a style of trading that you need to put the time into to read, educate yourself on how options work, learn technical analysis, and correct market timing. It is definitely not easy, which is why 99% of options traders wind up losing, many blowing out their accounts and never trading again. Just like it takes 4 years to get a college degree and even more years for a professional degree -you can’t give someone $ thousands and expect them to turn you into a successful options trader over night. So forget about the ‘gurus’ and get some books on options, take a investment course at a local college, read everything you can about option trading on the internet, find someone in your area who is a successful options trader and is willing to be a mentor, and paper trade until you get familiar with a style of trading that will provide you with a winning sytem.
Hughs is quite active in recruiting “students”. This thread is quite dated. Anyone out there using his service that can post comments that are more current???
I have been cohersed into husband program. WCA and weekly sales option Alert. I am also a novice trader. I have been semi successful. I have some winners and some losers. Two thing she I have learned education, education, education.. As well as look at all trades and evaluating what was right and what was wrong with the trade.
I keep coming up with wrong entry and wrong following the recommendations and not doing the homework on the trade, if it was a low risk entry.
Would have been more successful if I did. Wouldn’t norm have been in trade info I had and saved some capital.
I have been shaken out of trades as well with loses.
It comes down to money management and sticking to those rules.
The trades that rules were followed I have had some good gains. Most recent FTNT.
I have nice gains on the covered calls as well.
I have my capital set up into 4 strategies to spread the risk.
I also realize I will have no winning trades as well.
If I can make 70% winners I will be well.
I take what he gives as suggestions and then ned to do the homework to see info I enter or pass on the recommendation.
I have to say he does produce winners in his $39 newsletter and his trading strategies are sound if you like deep in the money call spreads. His trend following advice is pretty good too… That being said, I called in and Joe, the “salesmen” was very rude, pushy, and in a hurry to get to the next lead… I have a problem with the way they use the word “guarantee” too…. Not bad to spend a few bucks on as the info is sound, but if you don’t like strong arm sales tactics, don’t call in to ask any questions…
I had a similar experience with rude, unprofessional and pushy salesmen. The guys name was Ed – he talked like a New York mobster and completely discredits the service. All he was interested in was the next lead or sale. My questions about the service (ie – duration of trades, number of trades, trade management etc) were of no concern to him.