The Options Report

Discussion in 'Options' started by sharrig, Mar 29, 2009.

  1. sharrig


    Does anybody subscribe or has subscribed to the Options Report by Ken Tressler.

    If yes, are his recommendations worthwhile for long term trading.

    Any constructive comments would be welcome

    Thanks for your help:
  2. i know you want constructive rplies, but consider this:

    If this guy really can outperform the market and has a good track record of making money, why would he sell subscriptions for peanuts instead of trading his own selections and making huge profits??

  3. Can't we say same for all subscription services?

    I totally buy your point but won't they go out of business if everyone starts thinking like you and me :-D

    My guess - because nothing is 100% sure in trading world; they happily trade results of their system for sure peanuts.

  4. 1) Yes. I don't believe there is a single stock or option selection service that is worth anything more than zero.

    2) Yes, they would go out of business, but you surely know that people love to believe hype. They <i>want</i> to believe there's a path to easy riches. Or as PTBarnum said: "There's a sucker born every minute."

    3) Agree they are happy to collect those 'peanuts' from lots of subscribers because they already know they cannot make a steady income by trading their own picks.

    I know it's not fair to single out one newsletter company, but I read a letter from a subscriber who was unhappy that the company had 23 consecutive losses. They refunded her $5,000.

    How can anyone have that many consecutive losses? Doesn't seem possible, does it?

  5. Phoenix


    Less risk in selling market calls and selling newsletters than trading your own money. Some might prefer that.
  6. I think that's what Mark is saying:
    "Less risk in...."

    So admittedly there is risk in the trades themselves, despite the hyped up claims of many option newsletter sellers.

    In fact interestingly, there is one options picker I am aware of who shows all his results in % gain, they look really, really good with very few losses and with some very large gains, yet it blows up all for one reason. I'll leave it up to the reader to figure out what the blow up is.

  7. Geez. Some track record that is - that would actually be hard to do if you tried. If my math is correct, given a 50/50 shot of loss or profit, 23 losses is a row should be around 1 in 8.5 million.

  8. No professional would prefer that.

    In addition, if everyone adopted my stance, then no one would ever buy another newsletter and the letter writer would be forced to trade.

  9. I Disagree completely. There are some excellent news and trade type services out there.
    My broker also writes a paid subscription service and its very good.
    Good commentary and precise trade ideas. Very we'll thought out. Whether he makes money off his calls I don't know.
  10. The reason it happened was two-fold.

    First, they were not that good at predicting sock direction. Thus, about half the stock moved the wrong way.

    Second, and more importantly, they were option buyers. They recommended - for the bargain sum of $5,000 per year - that clients buy OTM options.

    Can you imagine - they bought options that required big moves in the underlying; they picked their stocks poorly, and they always suggested that clients bid above the offer price.

    No wonder they failed so badly. Agree that 23 consecutive losses is bad, but each trade had a chance of success far below 50%.

    #10     Mar 29, 2009