Registered: Oct 2004
12-15-10 01:21 PM
Quote from jbowen28:
I purchased Chuck Hughes' GPS Advisory Service in 12/09. I then signed up for an autotrade account with eoption.com. I started with the recommended account size of 30K and invested about 1k in each of the recommended trades for "small accounts". There were many recommended spread trades and covered call trades that were made in my account. The account was mostly flat for several months until about May of 2010 when the market hit a rough patch. Some of my positions took some big hits and my account when down to 25K. I pulled the plug on the autotrading and continued to watch the trades that were being recommended without actually investing in them. None of the trades made much if any money. The small account trades lost about 15 - 20% in total and the large account trades were mostly flat. Finally, in August 2010, Chuck Hughes said that GPS Advisory members could exercise their right to a money back guarantee but advised to wait until the end of their paid year subscription. Then in September of 2010, Chuck Hughes gave GPS Advisory members free access to his Inner Circle Service which was doing much better. Since then only a few trades have been recommended. Most notable was a gold spread. My subscription guarantees that if the recommendation do not make 100% after one year, my subscription is extended another year. I am still debating whether to continue or try to get my money back. He has fallen far short of the 100% but I expected to at least cover my subscription fee of $2500. It seems like a monkey throwing darts at option tables could have done better. Who knows, maybe he as baboons doing his trading for him. I read that he bought a nice spread ( as in house ) in Florida from the subscription fees he collected.
The year is coming to an end...any updates? Have you at least made a profit and covered the subscription costs?
For the record, the only thing I've considered buying from him are his books in the $50-$100 range. Of all the "gurus," Hughes seems to have more respect and fans than most.
If his books come with a free short-term subscription to his higher-priced services, I'd like to track them. But I wouldn't shell out a lot of money for "inner circle" or other $1000+ services without seeing years of documented results (not just cherry-picked broker statements).