Chuck Hughes Strategies

Discussion in 'Options' started by chilty, Apr 13, 2010.

  1. chilty

    chilty

    Anyone using strategies by Chuck Hughes? I am with some success and would like to correspond with anyone else that is using his strategies and compare notes.
     
  2. some success? his email spam talks like he makes 100s of precent returns every year.
     
  3. chilty

    chilty

    He has also won 7 world trading championships as a matter of record, have you?
     
  4. chilty

    chilty

    I may be wrong about this but a number of trading gurus to include, among others: Chuck Hughes, Russell Sands, Larry Williams, Don Fishback, Lee Gettess, Joe Duffy, Jack Schwager, Welles Wilder, George Fontanills, Peter Mckenna, et.al. have formed a consortium along with Tradewins Publishing to promote their wares.

    Apparently none of the gurus bad mouth each other but collectively, through Tradewins promote themselves through a newsletter called "Inside Trading".

    I suspect the use of a common physical address may be more of a result of creative marketing by someone rather than subterfuge.

    I have read the works of many of these gurus and some I find, such as Wilder, to be "far" out there. Others I found too complicated and others far too simplistic.

    After, trading with varying degrees of success for 30 years I have concluded that it is proper money management that is the great determinate of trading success as opposed to any one guru's strategy.

    That being said, all I'm looking for is for anyone else that has used Mr. Hughes strategies and do some head banging and compare results.
     
  5. why dont you tell us your experiences. i am curious. he claims his published results are actual trading results and not hypothetical returns. if they are not i dont see how he keeps out of trouble.
     
  6. chilty

    chilty

    If you are referring to my experience with the Chuck Hughes strategies, here are my two cents worth:

    (1) the trading results he shows are actual portfolio accounts he has with E*Trade.

    (2) he has confirmation letters from Robbins Trading Co. to confirm his world championship results.

    (3) without revealing his actual strategies which would be unethical, in my opinion, they are easily understood, make sense, and by using back-testing, produce very good results.

    (4) in real time trading, I am up 100% in my account in 60 days with three trades in progress.

    (5) one trade is a bull call spread currently showing a spread loss of approx. $108 and two straight long call plays showing total gain of approx. $107. All three trades have JUN expiration.

    (6) As I indicated previously, it is the money management aspect that determines ultimate success.

    (7) once I am ahead 30-40%, I will probably exit and take the gains, look for new opportunities.

    (8) the spread position has max loss of $150 so will keep an eye on that
     
  7. When you type his name into google, the first autocomplete google offers to you is "Chuck Hughes Scam."

    How does this "guru" make money? Are you paying a subscription fee? Is he front running the trades he recommends? Is he making brokerage fees?

    I was suggesting the exact same covered call strategy he had on his main website page, for the exact same reasons, to a retail investor type recently. I am wondering how much I should be charging for my advice.
     
  8. chilty

    chilty

    I can't reply as to how he "makes" his money other than by his own trading strategies and sales of his courses and a trading alliance he has formed.

    Look, here's the point.

    Anyone can sell frozen dog turds, claim they're organic fiber and thus good for you and make a mint. You must be able to separate the wheat from the chaff, cull the good ideas and move on without condemning the messenger.

    I have been to seminars, purchased all sorts of courses and lost money. I have also made money. Each and every time I ended up losing it was because I didn't do something I should have. I learned, backed off, and tried again. Am I rich, no I am not. What I am trying to do is find a comfortable trading STYLE that works for me and gives much better than average returns such as options.

    No one guru has all the answers. You have to take what they give, see if it is appropriate for your trading style and adapt.

    In summary, I would suggest that many of you condemn the messenger for tooting fantastic returns which they have in all probability achieved. BUT, their style and money management is much more highly advanced than yours or mine and so we need to be cautiously optimistic and accept our own shortcomings.
     
  9. I think there are quite a few traders who frequent this forum that are use more sophisticated strategies than this guy. In fact, his simplicity seems to be his strong point, but i digress...

    Look, if you feel he is helping you, great.

    The biggest issue I have with this guy is that he is presenting his track record as if he NEVER loses money. That simply can not be accurate. He even goes so far as to declare himself the world champion of trading!? WTF?! Also, what is up with the 20 different websites using his name? There is something seriously fishy going on with these claims.

    This is not a criticism of you. If you are ok with this, and you still feel his advice is worth the money you paid, that is great. The only trading advice I read from him was perfectly acceptable professional advice. Though, its hard to fuck up a covered call recommendation.
     
    #10     Apr 13, 2010