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Has anyone used his service? Info on Slingshot is elusive. Jagerson certainly has the quals. Want to try but can’t find a review on his service. Thanks.
John Jagerson and Slingshot Trader?
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I recently took the trial. Lot’s of big winners and big losers. Overall about a break even.
The losers (and winners) could be 4 or 5 in a row, so if you start at the begining of a losing streak, you are in bad shape.
In the last several days I saw an eye and attention grabbing teaser cartoon drawing type pitch for a newsletter promising consistent high returns but lost the ad and email link. Can anyone else point me in the right direction?
pah3@pah3.us
I dropped out of Slingshot after 2 months. There are more losers than winners while I was in.
I am glad I only follow a couple of times or I ‘ll end up pretty upset.
Tom essentially has it rights. They usually have 2-5 trades active at any one time. The idea is that you commit the same % of your portfolio (roughly 4 %) on each trade, consistently. These are all short term option trades (simple puts & calls), rarely more than 2 weeks in duration, usually less. The trades are trying to capture the big moves in implied volatility usually associated with ‘close to the money’ trades close to anticipated news events (mostly earnings releases). They admit to ‘guessing’ wrong nearly half the time. The trick to the success in their system is that you can never lose more than 100% (usually much less) on any one trade but can make well more than 100% on the big winners. It makes consistent trade sizing imperative.
Steve, thank you for your review. which unlike the other posts is succinct, specific and helpful. To take it a step further, have you actually followed his recommendations, either on paper or with investments? If so, what kind of profit or loss have you experienced? Are the results claimed in his ads true, false, or simply selective? Also, what would you recommend as a MINIMUM amount of cash available to follow his system? $1k, 3k, 5k, 10k? Thanks! Harry – hscenter@cox.net
Thanks for all the feedback on Slingshot…I see more negative than positive so I will not waste time with this one.
Slingshot trader…wow..it was like a slingshot for sure. Placed every trade they recommended for a few months and we only hit 2 of the many we traded. I ended up down 4000 in a few months. They send notices to sell to reinvest the money somewhere else…problem is the notifications come when you are already down 79%. On the few we collected on, there were so many people dumping that the spread between the bid and ask got huge and only netted about 150 dollars on each even though it showed up 1200 on my trade page. Price seemed right…but not for tons of losses. I would recommend “(re)investing your money elsewhere”.
I got an e-mail from Slingshot Trader showing great profits on a weekly basis. The flyer sounded good and I liked the leverage of options, so I signed up for $39 and got an extra month for free. I went to the site after getting the login info and immediately went to the closed trades for this year. After running all the P/L for each position the totals for this year were a -177% and last year were a -837%. So for the last two years if you were to buy everything they recommended you would have lost (-1014%). That does not sound anything like the ad I received. I immediately wrote the contact info and canceled my subscription and asked for a refund. Since I had been on their program for about 1 hr, I assumed they would comply. NO – I got an e-mail back saying there were no refunds based on the service I subscribed. I then called their number and was passed up the the manager. I explained the infomation they were selling was bogus and demanded a refund. She said since there was nothing explaining a refund policy in the ad, then all sales were final. I told her that must be the only way they can make money is by publishing misleading claims and then not refunding the money to subscribers when they discover there is no possible way to make money using the trade recommendations they offer. She said they do not control the advertising and there are no guarantees in the stock market. What a load of B.S.! STAY AWAY FROM THIS SLIMY NEWSLETTER! Next call is to the credit card to cancel the transaction due to fraud!
I used them for a two month trial and they were awful. Mostly losses with an a winner here and there. They were trying to bet on earnings which is a tough thing with options. I would stay away. Make sure if you use them don’t put your account on auot-renew.