written by reader My Super Big Expensive Embarrassing Mistake – The Big Trade from Stansberry

By dhb1313, March 25, 2020

The question for gumshoes: 1) if you HAD to spend $4K on Stansberry Research newsletters, which would you buy? Cuz, though I’ll surely try for a full refund, I’m likely only to get a credit and I CAN’t USE the newsletter I just bought, The Big Trade….

Short story: I succumbed to greed and fear in equally large portions, and spent, after all the teasers, $4 GRAND on Stansberry Research products three days ago. $2500 for The Big Trade — an options investing product — and more $ for additional years of same at reduced price. Digging into the materials, it seems I am literally INELIGIBLE to open up an options account anywhere. So I can’t even follow the advice they provide. I’m posting today partly as penance and a warning to others: you need at least 100 trades under your belt or previous options trading experience to open an options account at brokerage houses. My best guess (and it’s clear I do too much of that!) is that placing options trades over the phone through a broker will nullify most profits, even if I could find a broker prepared to submit the orders for a novice like myself.

Longer story: I’m a full-time caregiver for my Mom who has Alzheimer’s. The dip in the market scared me silly, because my chance of returning to work in a high paying job, at age 56 – 60 after Mom passes, having been out of (paid) work for (by then) 4 – 9 years looks pretty slim. I had planned, after Mom passed, to start a small online affiliate marketing business and live super frugally but my seed money was hit hard in the crash / crash-in-progress.

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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Robert J DanneggerblurgTravis Johnson, Stock Gumshoedhb1313 Recent comment authors

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I used to be a broker, why would placing your trades over the phone nullify the profits? Also, in about 3 months you can reapply for option rights. Just don’t say anything crazy like “now i have 10 years experience” because they do compare your applications.

Travis Johnson, Stock Gumshoe

Thanks for sharing your experience. I can’t tell you which Stansberry letters would be more useful, but I’m sure there are some that folks like — the unscientific polling of those who have rated their letters in the past for us (results here) puts Dr. David Eifrig’s letters at the top of the list. Please do be cautious about options trading even if you do get permission. Most options trades have a high probability of 100% losses, though some more complex trades build in a lower overall loss by selling contracts at the same time that you’re buying them. Options… Read More ยป

Robert J Dannegger
Robert J Dannegger

If you want to trade options go to Tastytrade.com and start learning for free. It is the best no BS option site that I know of. He also has a trading site called Tastyworks that is the easiest and cheapest to us that I know of. I’ve traded options at Fidelity and Td Ameritrade before moving to Tastyworks. Tof Sosnoff and his partner designed a trading system and sold it to TD Ameritrade for big bucks before starting Tsastworks with the lowest option commissions in the industry and have essentially forced lower prices throughout the industry. Everybody trading stocks and… Read More ยป

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