Wicked Profits

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Dave
Member
Dave
March 26, 2010 12:23 pm

I posted a very positive review on Dec 23, 2009. Yes, just like the many other AutoTrader subscribers, I did experience a 26% capital loss on the March-dated option spread.

Anyone who invests is accepting a level of risk, and even keeping money in a bank account can be a risk in these times. To control my risk for my total portfolio, I practice position limits and stop losses. My position limit with Wicked Profits is that I have only a set percentage of my investment capital allocated to this service; stop loss limits are automatic with this service through AutoTrading.

The historical track record as posted by “Kim” in the Nov 10, 2009 review above (very first posting) is bona fide (with an updated +37% performance for the full year 2009). Of course there are some risks in achieving that level of performance consistently over the last decade, and we just saw the risk this last month. I would certainly be discouraged, in fact very discouraged, if I were a recent subscriber and suffered a 26% loss. Everyone should know that there will be losing months; that is part of the “price” of what I view as consistent positive long-term performance from this service. My personal performance was pretty poor in 2008, but I am still in the game.

A couple of posts above suggested that the service should have closed all trades on the last Thursday (before the official option expiration at the Friday opening) since the spread was so close to the short position strike price. I believe that is something the editor should consider and then make that part of the AutoTrading plan.

My rating today would still be 5 stars in each category, except maybe 4 stars for consistency.

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Paul
Guest
Paul
May 9, 2010 3:41 am

I subscribed for three years and recently switched to another system that I ran in parallel for the past year. Reason for dropping wicked profits was that on the day the SPX trade in March settled, my subscription was cut off. Even though I had a yearly subscription, my access rights ended not at the end of the expiration period, but one day earlier. My email was lost and it was about getting out or staying in, I could have gotten out with a 10% loss but since I had no reply I assumed I should wait for settlement the next morning – well the 10% loss magnified to -29 1/2% which wiped out about a year of gains in one day!
My new service which I ran in parallel for a year, will sell out early if deemed necessary.
Also, Wicked Profits was generating $70,000,000 in option spreads each month which made it difficult to fill the orders thus having to accept a lower credit than a smaller service.
Yes, they won for 5 years before losing, BUT, those were with smaller, more manageable volumes of trades.

Pete
Guest
Pete
August 30, 2010 5:13 pm

Although I no longer subscribe to Wicked Profits after the February debacle, I know others who have. Since then “Brandon” has had multiple winning trades, but his credit spreads for these trades are tiny — like 30 cents. Given the poor risk/reward ratio of his bull and bear put/call spreads, beware small-time investor — you can lose 20 to 50% of your capital if the trade goes bad! You’ll also need a cast iron stomach to endure some of the drawdowns he’s had on his last few trades.

adagio
Guest
adagio
October 27, 2010 1:00 pm

The worst investing (i.e. gambling) mistake I ever made was to do a trade recommended by Wicked Profits. It was my first and only options trade. This was the trade in March that many other reviewers suffered through and have reported here (but it’s only now, in late October, that i can stand to revisit this event long enough to report on it). At the time, and based on their reported steady successes, I put in way more $ than I should have and lost a very large amount. This trade shouldn’t even have been recommended imo because there were only a few days left before expiration. Yes, it could have been even worse if he hadn’t placed a stop-loss.

Wicked P seems like a good guy (forget his lousy grammar that made me cringe and probably should have warned me to stay away–unlike our erudite Gumshoe!) and he was helpful in answering my questions. But the upside potential is very small in relation to the downside risks, which are enormous. Plus, there is major cheating in the markets that can (and did) sabotage the trade at the last minute. It was a disaster. The whole basis is way too risky! Stay away!

As to reviewer “Kim”, I would say that is definitely not the same person as Wicked P because their writing styles are completely different. Kim writes well and Wicked P does not, to say the least. (If his recommendation had made $$$, I’d forgive him for that, but since I’m still hurting, and I really feel he led us into a mine field with seriously insufficient time to get out safely, i won’t try to be polite).

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Milachka
Guest
Milachka
November 24, 2010 6:11 am

Hi,

I’ve been a subscriber to WP for many years and I confirm the performance that is posted on the website.

I agree with other posters that for a while now he has been going for credits that are too small.

I was out of the February 2010 trade that went sour on expiration day. I had been tracking the index on Thursday and found it too close for comfort so I exited the position myself.

Too be honest, I thought it was a HUGE mistake by Brandon to leave that trade open on Friday (when your stop loss doesn’t work anymore). Settlement can be awful if it goes against you! It often is at a worse price than the market is for the entire day. A

It is my opinion that the way settlement is calculated (first trade for each component of the index), is faulty. It leaves the door open for manipulation by big players. I am convinced that this is done on a regular basis. I have often seen a quick boost at the opening on Friday after which the indexes immediately reverse. The settlement value will then even be significantly higher than the index ever was. So, ALWAYS close your short position if the index is close to your exercise price on Thursday. Failing to do so might even cost you more than the 21% loss.

I believe Brandon has learnt that lesson and has adapted his exit strategy. He already closed a trade on a Wednesday (for a very small loss) which, with hindsight, he shouldn’t have. You won’t believe me, but I also sidestepped that one 😉

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ikcots
Guest
ikcots
November 27, 2010 11:39 am

I have subscribed for about 2 years, and find that they deliver as advertised. Their reported performance is true and fantastic.
The reason for my leaving was the low reward to risk ratio. The only thing I can ask is that Brandon provide more info and impact of drawdown…

D Singh
Guest
D Singh
March 11, 2011 1:39 pm

To give you some background about myself, I have been trading for about 10 years now. I was a near-day-trader for about 2 years and have subscribed to over 20 stock/option services and have trial-tested just about all the ones out there. I can say with certainly that only about 1% of them don’t manipulate their numbers and Wicked Profits is one of them.

I have been a continuous subscriber of Wicked Profits since May 2003. As they say, numbers don’t lie – and in this case, they *really* don’t lie – I personally vouch for these numbers (since I have had real money involved in all of the trades):

2010 -7.68%
2009 37.46%
2008 36.58%
2007 48.00%
2006 55.78%
2005 48.03%
2004 26.83%
2003 31.07%

As we all know, in the stock market there *are* going to be losses. The question is how to manage those losses and make them small enough so they don’t wipe the gains. Wicked Profits (as the numbers prove) manage losses very well. As you can see, only one year (2010) had any loss.

Besides the numbers, what really attracts me to this service is that the owner values integrity very highly and goes out of his way to adhere to it. There are times when the market are erratic and there are no recommendations for that month – in that case, the subscriber fee is waived – which other service does that? I don’t know of any other.

I hope this review pushes the people on the fence to the “membership side” because I personally have made tons of money with this service and I continuously try give back to the service.

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Bob
Guest
Bob
March 25, 2011 12:09 pm

This advisory recommends selling one bear call or bull put spread on an index like RUT or SPX each month. These are far out of the money spreads and almost always they expire worthless (since you’re selling them short, that’s what you want). The problem is that the risk/reward is frightening. Typically the spreads sell for $30 and have a worst case loss of $1000. So if you want to make $1200 in a month you have to risk $40,000. The stopping rule is to buy back the spread if the short strike is reached — typically that means that you’ll lose a quarter to a t