BookingAlpha

Catastrophe !!! Lost 80% !!! Please stay away !!!

Fellow investors, I just cancelled his service today after being subscriber for more than a year.

During that time my account lost 80% (eighty) of its initial value !!!

I was subscribed to auto-trading service and entrusted him to make the right calls (I know :()

I'm writing my first service review ever just to make sure that no other people get burned by this incompetent fellow !!!

He got stubborn in shorting market rallies and recently started using f... bombs in his market analysis to justify his loses !!!

Recently he mentioned he might be changing name of the service since he started implementing new methods !!! Hide and seek !!!

Please, please stay away unless you want your hard earned money to be flushed down the toilet !!!

My worst financial decision EVER !!!

Mjones

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Do Not Recommend

After reading many glowing reviews of this newsletter I decided to subscribe. I must say that it is not worth the risk, far from it. I wanted to get an accurate assessment of the skill that Mr. Trevor has, so I subscribed for 1.5 years. Doing the first part of last year my account dropped 20% because he doesn't know how to manage risk. Unfortunately his idea of managing risk is forming a condor with puts out of the money with call that are deep in the money. This makes no sense whatsoever, nevertheless after countless rolling and re-rolling of positions my account was down 28% at the end of the year. If you look at the website you will notice that for 2012 he seems to think that he was only down 8%. The reason is he doesn't count rolling losses up and out for huge debits as losses. He seems to think that as long as he continues to roll them for huge debits that they are not losses, after a while the premium is gone and you reach the point of diminishing return. For 2013 he started out pretty decently since he stopped trading front month options so that the options would have time to work in his favor. Everyone in the market is tracking that this has been a great year and that the market has reached new highs time and again, specifically the DOW and SPX. Mr. Trevor insists on selling call spreads that are one strike higher than the market but well within reach, instead of selling just outside of the market high like most common sense people would. If the market high is 1600 and we are still in a confirmed uptrend, does it matter that that we had ONE day of selling? Why would you roll a MAY 1490 cal to JUNE 1570 it is still at a loss! I understand loss mitigation but really? Meanwhile the position are condored with puts that are far out of the money and bringing in pennies per position while the call sides are losing thousands per position. Perhaps Mr. Trevor was a hotshot during the initial stages of the bull market but it seems that he has lost his touch. I have subscribed, lost a few thousands of dollars, and it is time to move on. In fairness, Trevor seems like a really nice guy, really honest initially, but it seems as if he is starting want to cover up one bad trade after another by rolling from one loss to another. So, if you are a new trader beware, this guy WILL lose you money. Do not pay attention to the claims of great gains because they are false. There are only two honest traders that I have found so far, and they actually generate profits, because I am still subscribed to them I will not reveal their names at this time. I will review them later. As for Booking Alpha, you get what you pay for.

Options4moolah

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Break Even at Best - Do not recommend this one

This is just okay and I think, based on no facts, that Klaiman, the publlisher, may be writing many of these reviews himself using alias' sign on's and email addresses. I've read too many questionable reviews about him that certainly raises many flags. Anyway, I decided to join and see for myself. Very streaky. Made some money and lost a lot so it's not profitable over time. Break even at best.

Denniswinthrop

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The best valued iron condor/credit spread alert service

Have been with bookingalpha since September 2012 and am up 16%. Don't have time

to watch trades because of full time job so the email alert service is perfect for me.

Whenever positions are threatened, Trevor is quick to roll out to protect the credits received.

Taking a non-directional stance on the market in general is the only way to go.

Love the service.

Stevbec54

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Back on track

After some ups and downs this year I am making money after the changes Trevor and BookingAlpha implemented. It is a nice change from other newsletters I have used that stayed with a trading style because they could not admit they needed to adapt. Keep up the good work, Trevor!

SouthernDixie

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Winning streaks, but too risky

BookingAlpha has some good runs, and hopefully they can keep it up by changing their risk managment. However, I do not recommend BookingAlpha at this time for the following reasons.

1) I don't believe they have solid exit strategies for positions working against them.

2) They rides losers to where both the short and long strike are in the money (OUCH !! - why not roll before its too late ?).

3) They will risk 60% of your account ( if you have 20% risk allocated per trade) to one side of the market with 3 indexes closely correlated i.e., SPY DIA and IWM. What if there is an event overseas overnight... your out 60% of your equity,

With this all being said I think they have great market insight with great winning streaks, however those profits can be blown out by wiping out 60% of your account in one trade with 3 correlated indexs. Too much risk with BookingAlpha, they need to cut losses quicker and not take too much risk with one side of the market. If you join BookingAlpha, allocate no more than 5% of your account for each trade.

Joe

Atlanta, GA

TraderJoe11

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A Keeper

I started trading with BookingAlpha in September '11. After a few months of trading only the weekly, I added the monthly service. I have to say I like it; it's less stress than the weekly. I like their trading style, it’s good for the new trader, but for someone with some know-how it is really good; this is the way to go. I'm trying to decide if I want to keep the weekly when my year is up, probably so since it has made a huge recovery since the beginning of the year (yikes). But I think everyone was having a difficult spring '12. Right now I'm up double digits on the year. That makes this mama happy :-) For the price you can't beat it. I've paid $100+ per month for newsletters in the past. Glad I stumbled across this one...it's a keeper.

Traderamy

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Not understanding current market

I signed up with Trevors service for some time,, and have mixed emotions about his trading program. I do respect his knoledge and his strict adherence to his protocols, but if they don.t work with the current market conditions then you have to change the way you trade. His performance thus far this year in 2012 has been far from good , I have suffered from large draw downs.and have to say a momentum trader he is not. On the positive side he seems to be an honest guy willing to work hard to have a successful service. I would like to see him less tolerant of trades that are going against him and open up his trading to other ETF plays. that seem to be less swingy.

Edge

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Honest reporting and back to profitable

After subscribing to BookingAlpha at the end of last year my account grew by about 20% in about 5 months. After giving back a portion of those profits for most of this year, my account has now recovered and I am back above 20% gains from where I started. All told, I have subscribed for less than one year so I am happy with the gains.

I was a little concerned earlier this year as they had losses but they communicated well and I stuck in with them. I'm glad I did as they seem to be back on track.

I was also impressed with the way they handled communicating their losses. They didn’t hide from them or attempt to slant the numbers in their favor.

Staryskies12

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Honest - But not big guys experience

Today, I disconnected my subscription with bookingalpha after 8 months. I thought atleast give a review which will help traders like me and also booking alpha.

This subscription will only help people who is trying to do a discipline trading rather than trading with no knowledge. Atleast I became a better trader than before subscribing to booking alpha. Thats the best critic I can give to booking alpha.

Pros

1. Honest and transparent. Whats shown on the website is accurate.

2. He really works hard to get a good trade and stays on top of it till it expires or adjusts it or closes it.

3. Gives his detail analysis when he is getting into the trade.

4. Very good communicator

5. News letter is excellent

6. and Very affordable

Cons - 2011 is excellent and 2012 is disaster

I doubt on the hedge fund experience he mentioned on the website. Its hard to believe that he missed a whole 1st quarter of 2012 run. Most of the trades in 1st quarter are Bear Call Spreads. Example : QQQ. Total disaster. His analysis was market is running up and it needs to consolidate. Which went wrong. Starting April he went the other way selling mostly Bull Put spreads when market is coming down. That is the reason why I doubt his hedge fund experience.Also, his only exit strategies are roll over or close it for a loss.

Bottom Line

I became a better trader now but I need to make money also when trading with the big guys at wall street. As other reviewer mentioned "Give me a jerk who can make money"

Srik

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