As FAR from the Holy Grail as possible!!
Being a current subscriber, I respect many aspects of Kim Klaiman’s leadership as well as the community and newsletter he’s established in Steady Options. Of all the newsletters, forums and blogs I’ve tried Kim is very quick to answer any/every question posed by a member. Further, he usually does so within an hour! Impressive. The forum community is generally very amiable and willing to help. If one desires to learn about and discuss the various non-directional strategies Steady Options employs the group is excellent.
That said, I trade to make money, but it just isn’t happening at Steady Options. I also joined Steady Options because of the stellar, “verified” returns that they advertise. Lastly, I joined due to the reviews here, on Investimonials. As a side note, the Investimonials “Top 10” ranking is conspicuously placed at the top of the Steady Options home page just under the impressive ROI their alerts boast. After experiencing the service first hand, however, I don’t believe the rave reviews I find here.
One reviewer actually stated that Steady Options was "as close to the Holy Grail as possible!” That’s a big claim. Here’s the thing: the reviewer who wrote that did so in July of 2013, which tells me it was, in my opinion – questionable at best. As I write, I am finishing my second month (not including the trial) with Steady Options. As such, I was there through July 2013. It was some of the worst trading I've seen. Kindly read what follows and decide if Steady Options is the Holy Grail that this and others rave about.
Here are just three (very recent) Steady Options trades:
May 31, 2013: AAPL calendar spread
65% drawdown; Posted loss after closing - 35%; Actual loss experienced including the cost of the “too little, too late” adjustment - 49% with a 10% portfolio allocation (which is what SO recommends).
Steady Options AAPL trade rationale: "How low can it go?!" or "Implied Volatility can't possibly stay this low!"
In my opinion, staying in a bad trade and throwing good money after bad because "it just can't go any lower!" is an amateur's move that any first year trader can accomplish without Steady Options coaching him to do as much. Further, Steady Options didn't follow their own trading rules. Why? Because… "it's just sooo oversold!" Again, rank newbie trading. What good are rules if they’re not followed? None. In the same way, what good is a service that teaches people to ignore their trading rules? You don’t need me to tell the answer.
June 28, 2013: RUT Iron Condor
Still open with ~40% loss and running.
Steady Options RUT trade rationale: “…RUT looks really stretched and overbought here with RSI at 74, highest level for a long time…”.
Rather than determining the risk up front, trading with rules including predetermined adjustments and using stops Steady Options just lets losses accumulate. Unlike AAPL, however, where the rationale behind letting the loss build was, “How low can it go?!,” with the RUT iron condor the rationale is - “How high can it go?!”
July 1, 2013: VIX Butterfly:
100% loss and rolled to August. The August (rolled) butterfly is now down ~50%. Again, rules not followed...Kim mentioned a “mental stop,” but he didn't follow it.
In conclusion, in the May, AAPL calendar “trade discussion” thread (in the members section) many members discuss being unable to match the posted returns (which are “verified”). Further, many of them are down by a significant percentage portfolio-wide while the service continues to post exceptional gains. One member noted being down by 15% on his total portfolio after 4 months of following! Keep in mind that the trades listed above are just 3 trades in the last two months.
Is this service “as close to the Holy Grail as possible?” You decide. Are such “reviews” trustworthy? You decide. Does Steady Options even belong on the Investimonials “Top Ten” list? Again, you decide. As for me, having experienced the service first hand - I will not be renewing my membership with Steady Options. Finally, I cannot in good conscience recommend Steady Options. There are cheaper ways to learn non-directional options strategies - and I’m not simply referring to the monthly fee.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
2 of 9 people have found this review helpful.
Was this review helpful?