You are obviously only aware of the services out there (and I admit there are many of them) who tout outlandish gains. I stray away from these sites immediately as I know they are full of it. But, I have to disagree with comments because the site I have been using states on their site: "We do not offer a 'get rich quick' strategy, but rather several strategies that are designed to produce consistent gains over the long-term." This is why I like this service because they have an honest and straight-forward approach. He doesn't state making you a millionaire in the next few years or have any of treat mumbo jumbo on his site. He even goes on to state "there is no "holy grail" in trading". This is the one thing I like about his approach, he treats his strategies like individual stocks. You have to diversify them. They have expected ups and downs, but if you stay disciplined and diversify them they can be wonderful enhancements to your overall portfolio over the long haul. I admit dag, I could trade them myself and do just a good of job, but the problem is I am unable to sit and watch every tick of the market. Believe me if I had the time I would. I would just like to say that there are many good sites out there that offer wonderful strategies that can be helpful to your portfolio. You just have to be realistic in your goals and sites are hyping up there ridiculous returns then yes you should be skeptical. But, more importantly, you need to do your due diligence.
This argument gets made alot against system vendors, and it makes sense. But for a service like the one zegras is pimping, it doesn't apply as much. The Crowder guy isn't selling a super-secret-scalp-for-millions system. He's just a guy charging a relatively small fee for some general guidance to his customers. Even if his customers just use the information for education, the cost isn't unreasonable. This is a very valid point about this kind of service. Once you understand it yourself, why keep paying? There might be many reasons (mostly psychological) why someone would keep paying, but if the cost is low, so what? I do think zegras comes off like he's pushing the service, since he doesn't contribute much other than to link to the signal guy's website. If Crowder did keep his people safe during the drop, good for him. Perhaps Zagras can talk some about his methods instead of just pimping the service. If Zegras says "I can't give away his proprietary methods", then yes, he is just a spammer who comes around to post advertisements.
Ok, going back and reading his initial post, its obvious why people might be irritated. The quote below is pretty cheeky. I can hear the Nelson "Ha Ha" coming through loud and clear. Thinly disguised schadenfreude.
Zegras, Here is your chance to make a contribution that would be helpful to "traders" like myself. I love safety during major drops! BTW I use some of these low cost services myself----for education and also not able to watch the market closely. The real test with credit spread advisors is --can they keep us safe?
good to see you survived and thanks for the tips...I agree with the combination of debit and credit spreads based on short/intermediate term outlooks...it really helps when you need to adjust...best d
I have some extra long puts with RUT (exp in June), what should I do? 1. Do nothing? 2. Sell some short-term put? 3. Always keep the book delta neural? What else can I do? Any comments?
Treat them like any other position, do they have a profit currently and if so, do you expect the downward move to continue? Some ideas... I assume the 790 Puts are the ITM and very profitable (assume since I do not know the entry price). You could simply sell those for a nice profit and let the 760s run if you expect us to move lower. You could roll the 790s into a bear put spread and sell some lower strike puts to perhaps cover the cost and lock in a credit if possible. Perhaps do the same with the 760s given the vol increase. This way you have money in your pocket and still have put positions. I would not necessarily rush to convert them to bull put spreads if they are currently profitable as long puts. Like I said it depends on where you got in and their current prices.