Author/Editor
Dan Murphy
Description
Software for managing your portfolio.
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Rating: 3.9/5. From 17 votes.
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4.2
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One time charge of 5000. 90 day cancellation period with full refund.
Did you actually try portfolio boss?
same guy?? http://www.sec.gov/litigation/admin/34-44881.htm
I am on a webinar right now and it is being offerred for $1899 with some lifetime benefits included. It seems like a tight group. You actuallh have to apply and be accepted.
Just beware…. I bought it for $5000, and became part of Portfolio Boss Facebook Group. It was part of the package. I had an issue with Portfolio Boss… brought it up Customer Service. They weren’t addressing it to my satisfaction, and then summarily kicked me out of their Facebook group without warning. Watch out.
Beware of Portfolio Boss, not so much because of the program but because Dan Murphy was subject to a SEC Cease and Desist order on 2001. See:
http://www.sec.gov/litigation/admin/34-44881.htm
He may be okay these days but some of his claims for Portfolio Boss seem spurious such as having back tested it to 1929. Most of the stocks he mentions in the webinar did not exist that far back.
An additional point to think about is that the webinar is a very basic intro and sales pitch that it seems unlikely would have current users and yet there were several on that claimed they were using it. I suspect they were shills.
Also, the price he is charging now is $5 grand and offering a thousand off for a lifetime license, whereas in the not too distant past it was under $2 grand.
Please my comments on how to find $5 stock, evaluate & apply your own strategy here in Gumshoe:
Portfolio Boss by Dan Murphy at
http://www.stockgumshoe.com/2015/02/microblog-portfolio-boss-by-dan-murphy/
Has anyone actually used the tool and made profit? Is it simply a scam? That’s what it seems to me…
Paid $100 for what I thought was a training session . It was more or less an infomercial for Portfolio Boss. I recently gave my son a lecture “if it sounds too good to be true…….” Yah, I think I’ll take my own advice. This guy is going to make a lot of money, just not in the stock market.
I attended a webinar by this guy yesterday, where he talked of a genius system he has developed using government spy data … the system will tell you when the market flips from bull to bear, and vice versa, and then you need to buy one of two financial instruments. He won’t tell subscribers what data or how his system is making the money… he’ll just tell you “bear”, “bull.”. LOL!
I bought Portfolio Boss on an annual lease for $1997 in mid Nov 2015. I did it on the basis that I was protected by a 100% 90 day guarantee. Trying to get my money back after about 40 days and getting no response to emails. Starting to leave messages on their phone. When I did the purchase I was told It was a one time discount off the price of $5000 for the Portfolio Boss for $1997. Did not realize until saw the confirming email that it was a one year lease at $2500 with a $503 discount or $1997 on a recurring basis. In any case, after looking it over for a month, I can not figure out how it will produce winners. It seems like a bait and switch with a lot of deception woven in.
Okay, under $5 is not difficult to find. Start with IBD Weekly and/or WSJ Saturday home delivery issue. Look through their various list. It doesn’t take a lot of time because single digit dollar stocks stick out like a sore thumb. Then check price, under $5, then apply your own acceptance rules; PEG, P/E, etc. Yes, under $5 appear even WSJ Biggest 1000, IBD REITs list & other list. Then, do due diligence, research & apply your trading criteria. Stick your rules, wavering could producer losses.
Any good brokerage charting have screeners; build your own to your under $5 criteria with fundamentals and/or indicators. If you want free 3rd party screeners; http://www.ProRealTime.com, http://www.FinViz.com & Yahoo. At these sites, it takes practice. Yet, at PRT, you’ll build your custom screener for under $5 with indicators for that day. At FinViz, you can get a complete list that meet your criteria by building with multiple choices. Then, with the list, apply your trading strategy for entry, stop & exit. If you are blindly taking anybody’s under $5, you are asking for trouble. Both sites offer training videos as well as YouTube. Yahoo Daily gainers under $5, but stay above $1. Still, use your own qualifying criteria & entry, stop & target strategy. Don’t jump in blindly. Protect your capital, just like a video game but better, the points are real dollars.
A paid software is http://www.Stockbutler.com that rates your selection & if it passes, it gets a letter grade with the Stockbutlers’ strategies having entry, stop & exit. They also have their own list to review but not many under $5. There are 3 levels of subscription. For serious under $5 Players, get the top. Check with your tax person for a trade deduction.
No matter what, you need to study, find a strategy you understand, can manage & stick to its rules. Without education, you invite disaster.
An okay play, for every $500, stop lose $1, exit $2 or $1 trailing lost. Draw back, could be a long wait like SIRI, got in at $4 & it hung there for weeks. Then it moved $4.40, in profit. Use ATR Ratio Qualifier, ATR/Price >= 5%, good.
That means a stock, in an ideal condition, will hit $2 profit in a month. Remember, that is ideal. Nothing is ideal in trading, just high probability.
SIRI would not had qualified with an ATR of .06 with a price of $4 coming to a 1.5% ATR Ratio. (.06/$4= 1.5% ATR Ratio, rate no good).
Remember another drawback with stocks over options, when you cash out, there is a 3 day waiting period before getting cash access to play again. A good strategy, have several stocks in play. Yet, this is where under $5 stocks have an advantage over options, no strike price & expiration date.
Disclaimer: This is for education purposes only. Your trades are your own. You are responsible to yourself. If you make a mistake, learn what you did wrong, make right & do better.
Dan Murphy is a smart guy and he’s developed some very good trading strategies backed by a lot of backtesting data. These are the types of strategies I like: simple, not over-trading, easy to trade and can be backed up by real data. It’s up to you whether you want to spend the money on PB…..I recommend you read some of his free reports (Relaxed Investor) and decide for yourself. I’ve been trading the strategies for over 2 years now and they’re profitable. He has a lot of subscribers now so he needs to beef up his customer support. That being said, if you have a little patience you will get your money back if that’s what you want (in time).
Dan Murphy has often referred to his team over the years. The SEC referred to him as a 1 man band. I now understand he has a contract programmer and a part time girl Friday. He tends to over promise and under deliver. The only one making any money is Dan Murphy.
Dan Murphy sent out a sell everything message about 2 months ago. The bull market is still intact and does not show any warning signs at this stage. After paying big bucks to Dan Murphy I believe he is a snake oil salesman.
I tried Portfolio Boss. I like the basic idea behind Portfolio Boss. However, perhaps due to the timing of the situation, the great gains shown on their chart seems to go negative during my trail period. I decided not to keep the product well within the trail period. They refused to refund the money. I tried to communicate with them several times with no success. From my perspective the outfit is a scam. Dan Murphy is not to be trusted. Enough said.
So why that newsletter still rank 4 stars if this is a scam?
I own Unite Portfolio Boss and its an excellent trading system. Dan Murphy and his staff/team have designed a terrific trading program which really helps the serious trader make good choices and the results are greater profits and less losses
Dear Fellow Stock Gumshoers,
Since my last major post here 2 years ago, I have only received two mailings for Portfolio Boss.
When I look at PB, I ballpark it was combination of moving averages with indicators. These could be very possible STO, RSI & MACD, these are the 3 most popular used indicators.
In reviewing the current sales pitches posted herein for a ton of money, about $2000, and having seen many others in the same arena of big up front pay, the simple answer don’t.
Worst are the lifetime offers. Unless you really know the company like I personally know the actual owners & their location, then lifetime has value. My current Lifetimes; I have 5 with over 5 years track record, good value price & do personally know the people behind them.
Why? 3 Red Flags:
Anyone can back test, cherry pick & make the past look all roses hiding the horns. The horns are; How is it doing in the last 90 days with actual stock, entry & exit dates. I take very strong issue with any company pitch showing anything over 90 days, let a lone years ago. The only exception is when actual data is shown for my own investigation & back testing. The other red flag, “Look how much money you would had made having our system.” Hindsight is 20/20.
The last red flag is big upfront pay, guarantee refund & no low cost trial period. Also, watch for the auto renewal buried in the terms & conditions event though big print says free or low cost trial.
Red Fag #1:
I have found that many data don’t match, like entering/exiting an option trade on a weekend and/or the results. Yes, there two back testing option sites I know & use. Interactive Trader & TOS, both are paid. Interactive Trader is about $30 a month with good stock scanners. TOS comes with your brokerage account.
Red Flag #2:
“Look how much money you would have made using our system.” Hindsight is 20/20.
Yet, they don’t show an actual real money account with their name. I do teach trading strategies for option trades with a real money account that my students see at every session, it started with 5k and double in 4 months & recorded for those not able to get on live. The recordings are archived for proof.
When the recordings are posted, the newest is at the top. Students are instructed to start viewing with the newest and keep going down the video viewing till they reach a video they totally understand.
If in the newest current video is totally understood, then they are good not to continue.
Why? The next video is a week old with the same concepts. We don’t reinvent trading every week. We have a set strategy, follow the rules & do the trade accordingly to entry/exit.
If a student wants to stop at the newest video & has questions, bring it to the next session.
Red Flag #3:
Paying big money upfront for something with no current verifiable track record is not a good idea. On a monthly basis, with easy cancellation, is okay.
Use a major credit card like AMX, CapOne & Diners, these companies have good track getting charge backs & payment cut off. Don’t use your bank card because some banks are not good at cut off and/or might require a new card to stop payment. The card company might not get your past payments, but they can surely cut off any future payments if a cancellation is not accepted.
If no low trial or no low monthly is offered, don’t buy.
Rather lose a small portion as to a big pay & fight for a refund.
Guarantee is a marketing trigger word, as well as “Free, 100% Satisfaction, Endorsements, Testimonials, Winning Author, Trader Winner, etc.”
I know these things because I am marketer alumni. Trigger word, sly marketing phrases & on & on are the keys taught in school.
Good Signs: Daily post that are verifiable, current completed trades and/or free limited access or limited time full access.
Of course, Google everything & check YouTube videos. The answers are out on the internet, just need to know what you are looking for.
Like any thing we buy that is good, use it according to the instructions. Failure to apply properly is failure on the buyer’s not applying. Sellers can lead you to opportunity; it is up the buyer to do the work.
For those that have had good results with Portfolio Boss, okay. Yet, the majority here have not had good results, thank you for sharing as it applies to the closing.
Thank you for reading this.
Thank you to those that gave me a thumbs up on Buying Stock Under $5.
Any trading system is good after going through a bear market that lead into a bull markets, which is the nature of the market. Season traders know this, our new traders will learn this & we, as a trading community, will help those behinds as those that help us when we arrived as new traders.
Have you ACTUALLY tried and properly evaluated the software, or is this just a general essay on how to find red flags?
Reading through these reviews is somewhat frustrating. Most of the people that post haven’t even tried the software and are posting disconnected opinions that are unrelated to the actual software. Some of these non-sensical, unqualified evaluations are very long too. Thanks for NOT helping. Has anyone ACTUALLY used the software and evaluated it properly, what is your feedback?
Dan Murphy recently came out with a new Portfolio Boss promotion. You get 1 week free trial and then they ask for a little under $1,000 for the first 6 months. At first, I was quite impressed with the software. What they provide is a nice back-testing tool that makes it easy to design and test your own trading strategies. Their tool also comes with Murphy’s propriety SMI (Smart Money Indicator) Using this indicator, I was able to construct portfolios that backtested very well, with minimal (10%) drawdown and over 15% annual return. I was a button-press away from signing up for the tool/service and I decided to do a bit more research.
Here’s what I found out… You can find postings online of Murphy’s past SMI calls on the market. Turns out, the SMI results used by Portfolio Boss don’t match Murphy’s own public calls on the market! What this means to me is that the current SMI results in the tool have been tweaked to look good and to overfit the market. That pretty much makes any backtesting you might do with this indicator pretty useless.
Of course, without the SMI, Portfolio Boss still seems like a pretty decent backtest tool. However, I’m not going to pay that kind of money for just a piece of backtesting software.
Ok, well they came back with a 1-year offer for under $1000 and a 30-day cancellation offer. This time, I went for it. After some more experimentation, I’ve found some strategies that can do Ok without the SMI. The tool itself seems fairly useful for backtesting for multiple years and some of the data sets that come with it go back to the early ’90s. Are there other tools that give this kind of long-term backtest capability? The jury’s still out, but I’ve still got my cancellation option.
I have used Portfolio Boss (PB) since the beginning in 2014. It seems most of the posts here are from the early days of PB. It had its fits and starts in the first couple of years and required a serious commitment of time and energy to find tradable strategies. Admittedly, getting support back then was challenging. There was definitely a learning curve involved for me as I had not traded much prior to joining. After working with Dan and team for some years now, I can honestly say this guy is sincere and cares about helping traders. He does not need to do this as he could probably easily retire but rather finds purpose in developing a tool that really works for us.
It has now grown into a powerful trading strategy development tool and, yes, still has a learning curve involved. There are built-in trading strategies, most of which are fine, but a few I would not bother with. There are a couple of strategies I have used as a starting point to develop my own. I have profitably traded using PB for several years now. He has recently hired an assistant who is very responsive to trouble tickets, training questions, etc. The latest major development is the addition of genetic algorithms (AI) to develop trading strategies. I just started trading a few strategies that resulted from the AI engine so I cannot comment on results yet. I can tell you it comes up with the strangest buy/sell filters! Most traders would never have even thought to try some of these.
Some words of caution:
1) this is NOT a get rich quick scheme. Its focus is stock trading, not options or futures, looking to hit consistent base hits with an occasional home run and occasional strike outs. It may very well be that you sign up for a trial and you start losing money, so you abandon it. You need to stick with it for at least a year in my view as anyone who has traded for any length of time knows you will have periods of loss.
2) it will require commitment and effort on your part although the AI developed strategies dumb it down a bit. It will still require interpretation of its results.
Hi CJD
are you still using PB ?
How are you doing please
Yes, I am still using PB with success. After eight years of use, I am still learning about and developing more and more robust trading strategies. You can develop strategies that are relatively low risk using ETFs and/or higher risk stock strategies. I recommend not purchasing if you are simply looking to receive trade signals. Again, this tool requires time and commitment to realize its potential. But the potential is quite significant.
I bought the original Portfolio Boss 2 years ago. I paid 9 thousand dollars for a liftime membership. The software never worked on my computer. I even upgraded the ram to no avail. I never got the technical support I was promised. I was robbed plain and simple. These guys are crooks. I an filing a complaint With the FTC. Buyer beware.