Because Finance & Trading Doesn't HAVE to Be Boring!

Archives

Tagged ‘option trading service reviews‘
Chuck Hughes Optioneering Reviews: Legit or Full-Blown Scam?

Chuck Hughes Optioneering Reviews: Legit or Full-Blown Scam?

In this article, we get into some of the Chuck Hughes Optioneering reviews that I’ve found when investigating their system.

I went over their website, contacted their support team and read up on a few reviews that I managed to find online.

But if you want the quick version: I’d avoid them. They want $6000 up front to sign up, and it’s doubtful if the claims they make are legit. Besides, when it comes to a comparison of value for the money, a membership inside The Empirical Collective is a no-brainer.

trade like chuck reviews

Contacting Their Support Team

I started by contacting them through the support email listed on their website with a couple of basic questions.

I thought I’d start the conversation by asking them what kind of options they traded in their optioneering service.

Did they just buy simple calls and puts, or did they get into more complex options strategies?

Chuck Huges’ “Support” Staff

Upon receiving a response, their support agent only wanted to answer my questions if I contacted them via phone.

I found this to be very strange, as I had some specific questions I wanted answered and I didn’t want to spend a lot of time tied up on the phone.

I persisted, asking if he could respond to my questions by email.

A while later, I received this response:

It’s much better if we speak directly, since Chuck has multiple programs at different price points.  However, the Weekly Options Alert service is currently available, after Chuck pays the $3000. USD enrollment fee for you, at an annual subscription cost of $6000. USD. The service includes puts and calls, market neutral trades, covered calls and ETFs. This includes all trades as well as back-up support, available by phone and email, 9 AM to 5 PM Pacific Time. With your subscription, you have access to Chuck’s proprietary website. Trades are sent to you by email. You simply follow the provided trade signals, using any online broker of your choice.  If you have questions about the trades, you have access to back-up technical support by phone and email. 

Based on this response, it looks like this system involves trading a variety of different options beyond buying basic calls and puts.

And while this isn’t bad by itself, people wanting to follow these trades will have to have accounts that are approved & funded well enough to trade these options.

But at a yearly cost of $6,000 up front I can’t see how anyone would pay that kind of money – especially when their services don’t have much in the way of reviews.

I politely declined to sign up.

For the record: I didn’t want to phone them because when I researched them online, I found that all of their “support” agents are actually trained salespeople in a call center.

So rather than answering questions, they try to hard sell you on their trading system as soon as you call them.

With that being the case, I decided the best course of action would be to email them.

Moving on, I decided to dig in a little more and research them online.

The Chuck Hughes Optioneering Results Claims

tradewins com reviewsSo I started with the claims they made on their website.

Hughes Optioneering trades weekly options, and claim to have a 94.1% trade win rate.

They say that their team has a combined investment expertise of more than 60 years.

Their website claims that Chuck Hughes himself began investing in options with a tiny $4,600 trading account, but within two years, he had gained more than $460,000 in profits.

According to them, the money he made just by trading options dwarfed his previous salary as a pilot.

They go on to say that even in the midst of all the global uncertainty, they have generated over $3.3 million in real gains over the last five years.

They make the claim that their brokerage account has made over $3,308,137.76 with an average return of 69.3 percent.

The average hold per trade is a whopping 67 days and the average annual return is over 370%.

They go on to say these figures came from 335 winning trades and 21 losers.

The Hughes OptioneeringTM Team claims these returns were made by trading weekly options.

The Hughes Optioneering Claims

These claims are incredible. And while they provide a list of returns by month on their website, as they use a variety of different option trade tactics, it’s hard to get an actual feel on the real world amount of money that is won or lost.

Win Loss Percentages Aren’t Always What They Seem

By this, I mean that – depending on the option trade tactic employed – you can have different amounts of money tied up in a trade.

And if the dollar amount per trade isn’t even (or close to) then the win/loss percentage isn’t necessarily representative of the actual percentage loss or gain.

And by using different option trade strategies, this becomes more of an issue.

In order to calculate this accurately, you’d have to use more of a weighted average based on the dollar amount invested per trade and then weight the win/loss percentage accordingly.

But I was curious if anyone had paid the money to join, so I kept looking and eventually came across this review…

Here’s one review I found while looking for more information on the Chuck Hughes Optioneering system:

Chuck Hughes and his fans claim that he’s a market expert or investing genius. But he’s ripped me off. Chuck claims to have discovered a secret recipe via experience and is willing to give everyone the secret through his training classes, which range in price from $6,000 to $15,000. But you have to pay up front.

A simple Google search of his name and fraud will teach you all you need to know – it’s all about high pressure sales tactics. All of the content on his YouTube videos is designed to encourage you to pay money for his online courses. Every huge promise is a ruse! I fell for those false promises and lost $7000 in the process of claiming to be a stock market expert. The main problem I have with this person is that he presents his track record as if he has never lost money before.

It makes it quite obvious that Chuck Hughes is a liar. He just sounds as if he has cracked the market and become a millionaire, and that there’s no possibility that he could ever fail.

But that’s now what I’ve seen from his online seminars, which aren’t even worth $70.

He even proclaims himself to be a global champion of trading!? I couldn’t find any proof…seems a little shady to me.

I attended his presentation in Washington, D.C. few years ago. There were probably 150 people in attendance, each paying $2,000.

I feel that he makes most of his money from these events and training rather than by actually trading options.

Overall, I feel that his claims are not quite true and I recommend avoiding him.

The Chuck Hughes Optioneering Review

All things considered, I can’t recommend their service.

I feel that for the initial buy in of $6000 for one year, there should be a lot more proof that is readily available and shown on their website.

It feels like it’s more geared towards being a sales machine than an actual trading firm.

So what can you do if you want to avoid this scam and make money trading?

At this point, I feel it’s best that you either learn to trade on your own, or look into better alternative like The Empirical Collective.

After all, their win rate is great and they are a lot more clear about what they actually offer their members. (And their membership fee is a fraction of what chuck huges optioneering seems to offer.

 

Hughes Optioneering Reviews

When people searched for chuck hughes optioneering reviews they were also interested in the following topics as well:

TradeWins com reviews

We found this review when we looked for insight into tradewins com reviews:

I decided to enroll in the course. I found that the course’s details were greatly overstated.They aren’t even close to keeping even 10% of their promises. They claim that the advice they give is 100 percent guaranteed to provide excellent outcomes. Some worked, but most failed. Once I completed the course, I found out that the suggestions were all the same and that there was nothing new in the training.

To be fair, I did make a small profit once in a while. But there were a lot of times that I failed miserably. Each week, they also gave out 4 trade ideas. I’d say they were 50 percent successful. Occasionally, even less.

The two-year membership included 4 trade alerts every week.

But after three months, they quit sending me the trade alerts.

I even called them to report the issue. And it took them more than 15 days to respond to my inquiry. I continued waiting for their phone calls and emails, but they kept making me wait.

I recognize that the market is never predictable. But I feel that they are very deceptive and I felt tricked when they stopped sending me the tips.

Trade Like Chuck

Trade like Chuck is a book written by Chuck Hughes where he supposedly explains how to make money trading.

Except even with a quick look at some of the reviews posted on goodreads, it seems that the book misses the mark.

One review claims that the examples in the book must be made up, as “No one could buy a protective put for far less than it is worth.”

Right Way Options Reviews: Is this Service From Hit and Run Candlesticks Worth The Crazy Amount of Money They Charge?

Right Way Options Reviews: Is this Service From Hit and Run Candlesticks Worth The Crazy Amount of Money They Charge?

When you’re looking at signing up for an option trade alerts service, it’s always a good idea to look into them. And with that in mind, we’re looking into Right Way Options Reviews.

Of course, with that said, in my opinion, no options trading service is able to even come close to the value and trade win rate of The Empirical Collective.

What is this all about?

Right Way Options specializes on options trading. And they also have different seminars and trading rooms to try and help traders learn the basics. They offer something called The Top Gun Trading program, which focuses on intraday trading. Their trading room is open between 9am and 11am EST.

The idea is to combine live sessions and trader commentary to help others learn about chart setups, momentum trades, & trade management.

A Service Provided By Hit And Run Candlesticks

Right way options is a product of Trade Hawk & Option eyes, sold through their website Hit & Run Candlesticks.

On their webpage, they say their trades are based on longer term option and stock trades. Based on this statement, I’d have to assume that they’re trading leaps for their option trades.

But they say their trades have a long term time frame – so they are focused on swing trading.

Which, for most people, is a much better option than trying to day trade.

hit and run candlesticks

Right Way Options Membership Choices

From their website, it looks like they charge $223 per month for their regular trade alerts if you want to pay month to month.

If you want to pay quarterly, the price is $594.

They also have a semi-annual payment option of $1,188 or an annual payment option of $1,787.

This pricing easily puts them at the high end of the spectrum in term of the cost of their membership.

Especially when you compare that with a membership inside The Empirical Collective which is a fraction of the price.

right way options

What’s Included with Membership to Right Way Options

When you sign up, they give you access to a trading room and then send trade alerts to your phone.

And, depending on the membership payment option you select, you may get anywhere from two to seventeen trainings consisting of ebooks and video training.

There’s no mention of the number of trades that they give out.

Trade Results – Can They Justify Their Options Trading Price By Making You Money?

Instead of listing an average trade win rate, or yearly return average, they have provided monthly return statements.

I looked at a few monthly returns, and most of them seemed to be single digit returns.

But when you look at a statement, they do seem to track year to date return and the overall return if you’d have invested with them back in January 2018 like this:

investment company reviews

Now, they looked to be providing updates like this for some time, but it doesn’t look like they’ve done any updates in the last two years.

They are still posting on their social accounts, but they haven’t kept up with their trade results.

I’m not sure what conclusion to draw from this, but it doesn’t look good – especially when they’re charging so much.

And it looks that much worse when competitors like The Empirical Collective, who provide current examples of their trade results.

Right Way Options Reviews

Overall, my view of their options trade service is this: I can’t see how they can justify the price of their trading service.

Based on how they’ve laid out their membership purchasing options, it looks like they’re trying to get you to commit to buying a year of service up front by bribing you with a a stock and options trading course.

They’ve shown some trade results, but those results didn’t look particularly impressive.

Especially as other option trade alert companies seem to offer better returns for a lower price.

right way options reviews

When people were looking for right way options reviews, they were also interested in these topics

Reviews for hit and run

This Hit & Run Candlesticks thing is a group the tries to help traders in transitioning from losers to winners. It’s designed to help newcomers with education, training, and live aid.

Hit & Run Candlesticks provides trading instruction in three areas: technical elements, Right Way Options for options trading simplicity, and Top Gun Trading for day trading mastery.

Monthly, quarterly, semi-annual, and annual memberships are offered for Hit & Run Candlesticks. The membership price provides traders with access to a live trading room, live pre-market review, and trading education 24 hours a day, seven days a week. Chart patterns, candlestick indications, trends, trend lines, support and resistance, price movement, and other technical characteristics may all be learned by students.

hit and run rated

How to choose the right options strike price

Here are a few things to keep in mind if you’re trying to use the right strike price.

  • A put or call option’s strike price is the price at which it can be executed.
  • A trader with a high risk tolerance may choose a strike price above the stock price, while a prudent investor may prefer a call option strike price at or below the stock price.
  • A put option strike price that is at or above the stock price is also safer than one that is below the market price.
  • Losses can arise from choosing the improper strike price, and the risk grows as the strike price moves further out of the money.

Can you buy a put option on stocks?

Yes. If you think the price of a stock will drop, you can buy a put option on a stock. With that said, the stock you want to short has to have liquid options that are available to trade.

So just having options available to be bought and sold on a particular stock isn’t just enough – you have to ensure that there is a market for those options.

In other words, you have to ensure the option contracts are liquid. And you determine whether or not they’re liquid by checking the bid ask spread on the options. If there’s a big difference between the bid ask spread then it isn’t liquid.

Right way trading company

The Right Way Options trading service is run by Trade Hawk and the company Options Eyes. They aren’t really a company on their own, but rather, a service offered by Trade Hawk.

What is the best investing broker?

A lot of people choose low price broker options like RobinHood. And they are fine, but once serious, most people eventually change to a company like TD Ameritrade.

With zero trade commissions, top-of-the-line educational programming, enhanced trading platforms, and a user-friendly mobile app, TD Ameritrade provides a full-service brokerage experience that can meet the needs of both new investors and advanced day traders taking positions in a variety of asset classes. Because of the instructional information and overall simplicity of use, TD Ameritrade is one of the finest solutions for new investors.

TD Ameritrade has been bought by Charles Schwab, but it continues to operate as a distinct organization, so we’ll look at how it rates as a standalone brokerage to see whether it’s a suitable fit for your investment requirements.

What is the best investing platform for an option order?

Questrade is a good option. They offer their trading via a desktop platform, their app, IQ Edge, and Questrade Global. A lot of beginners really like Questrade as they’re really simple to use and their platform is really intuitive.

CIBC Investor Edge. The Investor’s Edge website and the CIBC Mobile Wealth app are the only two trading platforms offered by CIBC Investor’s Edge. There are no sophisticated trading systems available.

The website is simple to navigate, but their app has received mixed reviews. On the App Store, it has a rating of 3.3 stars out of 5 stars, while on Google Play, it has a rating of 3.5 stars out of 5. Those with Wood Gundy, Imperial Investor Services, or Private Investment Counsel accounts can also use the app.

The charges for options trading are $6.95 per trade + $1.25 each contract. Commissions are $5.95 per transaction + $1.25 per contract for students (who must have a CIBC Smart Account for students). Active traders (those who trade 150 times or more every quarter) pay $4.95 per trade + $1.25 per contract. The commissions for trading on American exchanges are the same as for trades on foreign exchanges, but in US dollars.

There are no account minimums to start trading, and CIBC offers simple instructions on how to make options trading.

Interactive Brokers. They offer trading via Client Portal (the company’s website), Trader Workstation, and IBKR Mobile are Interactive Brokers’ three trading platforms (its app).

The website is easy to navigate, and making a deal is straightforward. The app has a 3.8 out of 5 star rating on the App Store and a 3.5 out of 5 star rating on Google Play.

In comparison to its competitors, commissions are relatively modest. For less than 10,000 transactions each month, they start at $1.25 per contract, with a minimum price of $1.50 per order. If you make 10,001 to 50,000 transactions per month, the commission is $1.15 per contract, $1.05 per contract if you make 50,001 to 100,000 trades per month, and $1 per contract if you make more than 100,000 trades per month. There is, however, a $1.50 minimum payment.

For less than 10,000 trades per month on American exchanges, charges range from $0.25 to $0.65 per contract, depending on the option’s pricing. The minimal fee is $1 USD. The smaller the fees, the more contracts you trade. When you trade more than 100,000 contracts every month, they might cost as little as $0.15.

They don’t have an account minimum that you have to meet before you start trading.

What are real time trade alerts?

A “real-time” stock alert is one that arrives immediately after a trigger is triggered. This form of warning is very immediate and requires a continuous supply of market data.

Consider setting up an alert for a new 52-week high in Apple stock. With a real-time alert, you’ll know the second Apple shares hit a new high — not minutes later. As a result, rather than chasing after the market, you may react to price action as soon as it occurs.

Whether or not you need real-time alerts depends a lot on the trading you do: if you daytrade you will need instant real-time alerts. If swing trading, you might not need instant updates – if there’s a bit of a lag it’s often not quite as critical.

What is the best option Alert Service?

The best option alert service is easily The Empirical Collective. The amount of value they offer their subscribers is unmatched. And the price of their membership is very inexpensive right now, but they say it will increase soon.

What market platforms offer the best experience?

I recommend Questrade, RobinHood or the thinkorswim platform by TD Ameritrade.

Hit and Run Reviews & Right Way Options Reviews

The Trader Vision 20/20 Monthly Subscription is also included with Hit & Run Candlesticks. The subscription costs $149 for the first 60 days and then $37 per month after that. Trader Vision 20/20 helps traders build a standard trading method, improve the quality of their deals, detect and eliminate trading difficulties, manage their emotions, and measure their success. Overall – and to sum up Right Way Options Reviews – I would say that you should avoid Hit and Run Candlesticks and their Right Way Options trading service as they’re just too expensive.