I've been a member of BSS for a while now. This will be a highly critical review of Magician's service as I have a love hate relationship with how things have gone up to this point.
First of all, I've tried quite a few stock newsletter/chatroom services. As far as trading style goes, Magician's is the one that suits me best. He's simply a master of finding charts that have huge potential to run. He's kept a very conservative stance throughout the downturn from August-October and has been a nice guiding voice to follow through these uncertain times. I have no doubt that an inexperienced or average trader could do quite well following his picks. I love the way Magician trades and will continue to learn from him for some time to come.
Now on to the negatives. I write this in hopes that an unbiased opinion will help Magician improve his service in the future.
While Magician's trades are top notch, the chat room is pretty sad. While there are usually quite a few people in there, it's not very active and very little learning or guidance goes on throughout the day. If you're looking for a trading community, this isn't it. Part of the issue may be that the chat room is just an IRC room which is great for 1993 but isn't really conducive to community building (look at Kunal and Ryan with Bulls On Wall Street if you want this kind of thing). Lately, the chat room has been down quite often and no alert or notification or support email was sent to me informing me of its status.
Secondly, there's a lot of bullshit going on with Magician's Twitter feed. Every night, a list of stocks to watch is sent out to subscribers. This is great, but I think it's lame and a bit dishonest for Magician to tweet something like, "$ABC is up 20% from last night's buy list". Anyone can make a buy list that has some big winners. Tweeting about every one of them that goes up big is very misleading especially if you didn't even bother to buy it at the breakout. I've never seen Magician tweet about the losers from his buy list so why the selective reporting? Mag is a good enough trader that he shouldn't need to do this kind of twitter nonsense. It just makes him look dishonest. Twitter bragging about stock picks is a big pet peeve of mine and Mag is really guilty of only showing the good stuff and not the bad.
My last complaint about BSS is that entries and position sizes aren't always clearly posted in the chat room or anywhere else. You have to watch the chat room very carefully to see what Magician is doing. When he does make a trade, a lot of times you'll see a message like, "Nibbled on ABC." I don't even know what this means or how "nibbled" turned into code for buying a particular position size but it's not easy to follow. It would make things much easier if all entries, exits and position sizes were clearly marked in the chat room and also emailed to subscribers. This becomes particularly problematic when you don't know Magician's stop losses for his positions or when he sells. I've been caught a couple times holding a stock that Magician had sold earlier in the day but I never got the notification.
Overall, I really like Magician's trades, style, videos and opinions on the market. With some more organization and clarity with his trading alerts, a better chat room and less manipulation on Twitter, his service would be great. Hopefully Magician can build on the education aspect of his site by doing more webinars and also put some more time into the foundation of his business and website in the near future. Regardless, I'll remain a member and continue to be impressed by the trades and frustrated by the lack of organization and tomfoolery on Twitter.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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