Small A/c Journey 1 year review
I joined Small account journey late 2022 where the attempt is to grow $2000 balance selling vertical spreads. Pros: -Enforces the fact Trading is Hard -does mention this trading strategy is a live case study (trial n error?) -As of this writing +80% win rate (which means nothing as explained in cons) -viable options strategy selling verticals (bull puts/Bear calls) -members in chatrooms are quite helpful -will address questions in livestream chatrooms -normaly exits at +30% to +50%. -Pre market analysis and questions answered in livestreams Cons: -Alert app is hardly updated runs into constant issues -Losing trades are not managed well and positions held till max loss/assignment on multiple occasions -Still in learning stage:once i asked why isint he exiting losing TSLA bull put responded he was hoping Elon says something overnight that will cause big bounce in price(this is when the position was beyond -200% and sure enough max loss -Wins are celebrated and wining streaks are emailed to everyone but new 2k challenges that went bust are not mentioned (He once blew through three 2k challenges consecutively and a lot of new members who followed were livid. he responded by saying “hey trades have random outcomes” when in reality he shouldnt have traded so recklessly as in taking strikes too close to ATM and exited losses at 100% which he teaches but rarely follows. -High win rate does not mean much when the losing trades wipe out several past wins causing huge drawdowns. -company in general has very cheesy pushy advertising under the guise of “training” all weekend training sessions is where they push discounts to new members to join -sales people are not very transparent when giving you discounts and customerservice is horrible to deal with as they rarely respond to emails (as vented by lots of members in live chatrooms) my suggestion, if you decide to join to learn the strat of 10 ema bounce on strong stocks with earnings guidance which may not work in every environment -you may want to model the strat but not mirror the strikes/expiry :he runs another service called Jason bond picks and admitted sometimes he will let emotions from loosing trades from one service will leak into other service as a form of revenge trading this is a big red flag -often times you will see Jason getting i better 10-20% better fill than what’s there at time of alert, so he could take the 20% win while you could take a loss or base hit -After big drawdowns he may resolve to trade less aggressively until he lets old habits prevail and forgets new resolution becomes impatient and starts trading aggressively by forcing traders again continuing the vicious boom n bust cycle -SAJ does not teach how to manage spreads eg legging out of spreads or rolling , converting into diagonals etc . Traders who are able to manage options positions is when they’ve mastered this game and for above reasons i can’t recommend this service Jason’s goal is to grow a $2000 a/c to $100k closest hes been is an impressive $48k. He did admit letting wins go to his head leading to position big rather than trade conservative by taking smaller positions and preserving capital Conclusion After over year of using the 3 main services i can say for certain none of the 3 “teacher/traders” are profitable if they are actually trading non paper a/cs as no one shows actual pnl statements they have dialled down their promos after the Raging Bull FTC lawsuit. These guys are only in the business of selling subscriptions thats how they stay afloat.