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Weekend Trader Series

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Rating: 2.5/5. From 4 votes.
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sirlostalot
sirlostalot
11 years ago

I’ve lost half of my IRA in the last year since trying his “Weekend Trader” series. Loss after loss sprinkled in with a rare, small winner.
I give them high rankings for consistency- consistently bad!

dc
dc
11 years ago

I tried the weekend trader for a few months and found most of the picks to be loosers. After 2 months I was in the hole about $500. I was told to change to a different service becasue the weekend series was not realtime and not as good. Other options service from this company might be ok. The customer service was good and easy to get a hold of, but I am going to sit this one out for a while

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SmallTrader88
SmallTrader88
11 years ago

I subscribed to the Weekend Trader and paper traded instead of risking real money. It’s a good thing that I took that approach, since these were the results from October 2010 to March 2011:

Losing trades: 19 (average of 30% loss each)
Time Stops: 9 (usually small losses nearing expiration)
Break-evens: 1
Wins: 9 (most were 50% or less, one was 100%)

This doesn’t square with their advertisements. They list a chain of 100% to 200% winners without any losers listed or the effect of those losers on the bottom line.

It’s not possible to do an option by option comparison with the ads, since there are different series for people subscribing at different times. I have no idea where they get the examples for the ads – different series, cherry-pick, etc.

PLEASE – do me one big favor. If you subscribe to any newsletter, service or method, paper trade for a while first. You’ll be very glad you did!

Blindfingers
Blindfingers
11 years ago

When I bought Bernie’s Weekend Trader, I knew absolutely nothing of trading options, not even that a contract represented 100 shares but I quickly made that deduction when the cost of my purchase was about $86K! I have traded about 60% of his recommendations. This service cost me just under $540/yr., tax in, and to date, my profit is just over $6,000. In my estimation, that makes the purchase worthwhile.

I also receive the daily newletters – Schaeffer’s Opening View, Monday Morning Outlook and Market Recap – and they are certainly worth the few moments it takes to peruse them.

To the downside, Schaeffer’s almost daily sends me some “last minute offer that expire at midnight” but will be offered again and again and again. Let’s be honest, they’re all in it for the money and if stooping to being pitch monkeys is what it takes, they’re not beneath it.

Overall rating: 3 stars.

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Judy
Judy
11 years ago

I started subscribing to Schaeffer’s Weekly Options Alert Service back in February 2011. I did one or two trades, did well, and then went out of the country for 3 weeks on vacation. I came back and totally forgot about the service, but then decided to give it a go again last week… I’m happy to say that I have earned back my subscription fee after only 4 business days! I literally only did 3 trades with total capital investment of $4500 and made a profit of $1300. That’s almost a 30% return in 4 business days! Try annualizing that ROI! OMG – Not bad! And I am a very conservative options trader, so there was actually more room for profit, but I was too much of a scaredy cat. I am now a believer and a super happy subscriber.

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buffalodiesel
buffalodiesel
4 years ago

I have their monthly program…. their performance was very poor and they did not refund my money.

👍 29
Padde
Padde
3 years ago

This is for weekly options trader, for some reason I cannot “select” that from the “Add a Topic”. I have subscribed this and 4 major losses 2 minor wins (by % gain or loss) so far. If a research firm is to be this bad, what is the research they are doing? And they tell one thing like sell at 3.65 or better and show on the site 4.05 as exit price. Totally disappointing.

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