Ok so I can't talk about Zacks, this is just a review on Schaeffer's Options Trader
Schaeffer! wow where to begin with these guys, I'll start at the end for you lazy readers as this could be a long rant. In summation the only way to make money from Schaeffer is to do the exact opposite of what they tell you or just never subscribe (which is harder then it sounds!).
My father fell victim to their incessant barrage of emails, some of their classic one liners on subject lines include “last chance, 6 winners a month for 6 months,” “We just did it!,” “The closest you’ll ever get to effortless cash generation,” “that’s a six figure difference,” “this is your very last chance.” Things get better when you open these miraculous mails, benefits like life time subscriptions for $700, money back guarantee if you are unsatisfied, free ipod touch, double your money on 100 trades guaranteed, 60% off subscriptions.. They list enticing triple digit gains, just “samples,“ apparently they don‘t want to “bore you with the whole list today!”. Oh “and in the interest of FULL DISCLOSURE, let me tell you that sometimes our subscribers have to “settle” for double digit returns” Who writes this stuff, failed fiction authors?!
Ok so in an effort to continue this theme of full disclosure I can only comment on the Schaeffer player’s power series and weekend trader products. If we look at the weekend trader product, it sends a trade every Sunday evening at the same time to enter on Monday morning. This alone seems ridiculous, the fact that they guarantee a trade at the same time every week doesn’t seem very sensible, do they throw a dart, with some of their suggestions it would appear so. I can’t list exact trades as this would be a be a breach between SIR and subscriber but lets just say their emails begin to change drastically after giving in to them.
Firstly their reasons behind their picks make no sense whatsoever, primarily based on fundamentals, the charts just look scary but they don‘t include any technical analysis, not surprisingly they usually include confusing statements like although we remain bullish on “X” only 2 out of 11 analysts rate it as a buy, investors have yet to catch on to “X“ so options traders specifically are bearishly aligned . The following 8 out of 10 emails (rough approximation based on year of subs) are then “ we advise closing out of “X” put/call to reduce potential further losses!”
When they send new trades, the top of the email will generally read the “X” call/ put, “Y” call/ put, and “Z” call/put hit their respective stop-losses and were closed out last week.
Don’t be fooled by the money back guarantee, they will have one profitable trade every now and again which I assume will mean your guarantee is no longer guaranteed!
I rated it as entertaining as I actually find their ridiculous picks and incessant emails hilarious but avoid at all costs, invest in someone who lists their losses, bring back transparency, thanks to Timothy Sykes we might actually have a chance.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
7 of 7 people have found this review helpful.
Was this review helpful?
Yes
No