I have been paper trading some trades from stockoptioninvesting.com and they've done pretty well so far. I emailed them and they told me that they started out 3 years ago with $100,000 and now they have roughly $5,000,000 in their account today. Should I be skeptical about this? I've gone through their site quite a bit, looked at their past performance, and I've noticed that they are only about 50/50 (W/L) most of the time. However, their strategy seems to work well enough to pretty much double their money (each month of trading) by using trailing stops to limit losses and make upside potential almost unlimited. I've always heard that if something sounds too good to be true that it isn't but this seems pretty believable to me. What do you guys think? If this service is bogus, do you know of one or more that aren't?
are they after your cash? if so they are shills. many free options trade signals sites out there and usually free ones are da best.
They only double the money each month ? I wouldn't pay for it ; most of the ET members doing much better that double .
Must be a virus or something (sort of like birdshit flu). I have one (a spammer) over here (Resources) as well. Alright then, who has the "eject button" this evening?
Sorry guys, not quite. I am not a spammer, I'm just looking to NOT get burned. This site's gold service is $200 a month so I guess they are bad news? Also, I didn't realize that doubling one's money each month wasn't that good. If there are better advisory services out there, please tell me about them.
Also, if I post what they say their past performance is for a specific month, is there any way to audit their past trades to see if they really did make the profits they claimed for that month? Their most recent past performance posting is for February of 2005.
I'm going to assume you are legit...if their past performance is Feb of 2005 I would RUN in the opposit direction. I personally don't believe in advisory services. In terms of stock selections... WSJ, Barron's and many other generic (and much cheaper) news sources give plenty of leads which you need to do due dilligence on before investing. There is no short cut or easy answer.
By doubling money each month one can turn 100,000 into 400 mln after first year. 5 mln is way too small number for that.