Trading Options For Income

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48 Comments
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Mr. Satisfied
Guest
Mr. Satisfied
June 23, 2011 6:15 pm

Not sure what the problem is with all the above whiners! I have been trading their Puts and Calls service for several months now and the performance has been excellent! I think there is some sabotage going on here…year to date I am up around 25% after all costs.

I know the spreads strategy has not performed as well but at least these guys are honest and put out accurate and true results.

They charge $99.00 a month for all three strategies combined.

oilandice
Guest
oilandice
June 23, 2011 8:29 pm

No whiner and no sabotage,the service is a fraud . If you have high expectations you better lower them.

oilandice

Bob
Guest
Bob
June 24, 2011 2:42 pm

Mr. Satisfied, how much have you made on those OIH calls, especially after you were instructed to double down? Or on the SLV calls? Or the GDX calls? The problem with Mr. Mendes is that he doesn’t seem to know what a put is. He buys calls when the market is going up and buys calls when the market is going down. Since I started the service Mendes hasn’t recommended a single put.

Mr Satisfied
Guest
Mr Satisfied
June 25, 2011 9:06 am

The service is profitable. How can you stand there and complain based on a couple of trades that lost money…What the about the other trades that have made money? You must not have much experience trading options Oilandice…

Stop whining. You are responsible for your own portfolio not the autotrade newsletter.

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Ticks
Guest
Ticks
June 27, 2011 9:25 am

Started trading their alerts in April 2001 and lost $18K within 2 months. They went giddy on OIH and GDX with huge losses.

Here are my statement from TOS:

YEAR TO DATE PROFIT & LOSS TOTAL P/L YTD: ($18,330.76)
SYMBOL YTD P/L
ERX ($1,556.48)
FAS $250.00
FXI $140.00
GDX ($11,196.48)
GLD $850.00
OIH ($7,835.48)
QLD $476.26
QQQ $85.16
SLV $961.00
SMH $233.76
SPY $65.00
TNA ($465.62)
UYG ($647.40)
XLE $309.52

The results below says it all (TOFI Spread performance available at their site):
OIH 04/06/11 – 04/26/11 -44.6%
GDX 04/26/11 – 04/27/11 -92.3%
GDX 05/11/11 – 05/31/11 +01.3%
OIH 05/02/11 – 06/01/11 -51.6%
GDX 05/02/11 – 06/02/11 -92.9%
OIH 05/11/11 – 06/04/11 -40.0%
OIH 05/11/11 – 06/14/11 -53.4%
GDX 06/03/11 – 06/14/11 -84.5%

Be prepared for small profits and HUGE losses, sure to wipe out your account. CJ never replies to your questions/emails.

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Bob
Guest
Bob
June 27, 2011 9:53 am

Mr. Satisfied, the trades that made money made a few hundred each. The many, many trades that have lost money have lost thousands each. I can’t believe you’re using the same service the rest of us are.

Kim
Member
Kim
June 27, 2011 10:59 am

Mr Satisfied, when you say “the service is profitable”, which time frame are you referring to? According to his performance page, the last few months have been pretty bad. He stopped posting the summary of the trades with average and total gains. I assume the reason was the recent losses. Spreads performance has been especially bad, with three 65-92% losers and four 40-50% losers. In fact, since April he had 10 trades, only two winners.

The long term performance might be good, but such drawdowns are unacceptable. They can wipe out your account pretty quickly.

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Mr Satisfied
Guest
Mr Satisfied
June 27, 2011 1:15 pm

I don’t trade the Spreads strategy just the deep in the money puts and calls strategy. The service is profitable in year to date and over the past 12 months.

They trade a spreads strategy a DITM Puts and calls strategy and they are coming out with an ETF strategy next month. I have made money trading their system and I am up well above the market for these periods. Their trades are tracked by Pro Trading Profits by the way and are verified.

They are 75 out of 100 trades positive for the Puts and Calls service. The spreads service did over 200% last year! I guess these strategies should be reviewed separately? My trading account is larger as a result of their trading recommendations and that is what I have to go by.

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Ricky
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Ricky
June 27, 2011 1:28 pm

I have been a subscriber to CJ’s autotrading newsletter since January. I chose to go with them because their performance was exceptional and I had received a good review from my broker on CJ. The strategies were very profitable early in the year and I traded them both but was fortunate enough to cut back on the Spreads strategy around March and switch 100% to the in the money puts and calls strategy. That move saved me a bundle!

The spread strategy is very aggressive and should only be traded by those who want speculative exposure. The in the money puts and calls is also aggressive but for some reason they have managed to show profits for each of the past 4 years. The spreads lost money in 2009 but they show huge positive returns for 2010.

I am going to continue trading the in the money puts and calls service and their new ETF service as spreads are a bit to volatile for me.

CJ’s daily updates are very good!

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Kim
Member
Kim
June 27, 2011 2:50 pm

I guess it really depends when you started. It might be profitable in the long term, but the latest drawdown was pretty severe. In the P&C service, they had 60% losers in the last two months, most of them in 30-40% range, and just few small winners in the 13-17% range. Aiming for 15% winners and allowing 30-40% losers is not a good practice, even if you have 60-70% winning ratio. Didn’t you take those losing trades?

Mr Satisfied
Guest
Mr Satisfied
June 27, 2011 3:23 pm