Options Trader

Judge Mental

Junior member
10 0
Just seen this advert on ADVFN (you know, the one sponsored by Goldline!! :rolleyes: ).

This advert is offering, for an annual fee of £487 (?) to supply subscribers with email or fax messages telling you which deals to make, when, with everything laid out for you even down to what you say to the broker.

Anyone heard of this or taken it up?

Judge Mental
 

Judge Mental

Junior member
10 0
That thread is about the Goldline Trading System - my enquiry is about a different mob - its actually Fleet Publications offering "Options Trader", including email/fax messages advising about a deal that needs to be made asap

Judge Mental
 

belgianbird

Newbie
2 0
Hi,
You guys saved me from making an expensive mistake a couple of weeks ago so I'm hoping you'll do it again.

I too have received information from Fleet Street Publications and in particular an Options Trader Service from Patrick Collier.

I've found links that reference him on the WWW.LIFFE.COM site http://www.liffe.com/liffeinvestor/else/info/optionstrader.htm. He is offering a money back advice service. Seems to good to be true!

He was apparently a big name at Bank of America and BZW Markets so I'm guessing someone must have heard of him.

Thanks
BelgianBird
 

novice101

Junior member
11 0
Hi Judgemental and Belgianbird

I dont know if this is any help but I too am a learner and of the opinion that this kind of help if any good can be a real aid to us with L plates!!

Iknow of and had business with Fleet St Pubs and have never had a prob with them. They seem to promote a fair range but Im led to believe that they do vet the info to a reasnable degree first.

Also I have recently been to London Stock Exchange for a day long seminar by various speakers, one of which was P. Collier.

Not only was his talk on options very good but it was taught in such a way that something I had been stuck on for months was all of a sudden clear as a bell.!!

I met him after and he seems a nice guy, humble and genuine enough. He was as usual surrounded by the "clever" people who seem to know it all and he was having to explain something to someone who was so obviously greedy and wanted a quick fix. He managed to do it without losing it which I think was a miracle!!

Options can make you a lot but you need to be patient and careful.
The same can be said for all types of trading!!

I personally will be giving him a try when Im ready to get into that side of trading. I have a gut feeling that he is one of those people who will honour the guarantee.

Please let us know if and how you get on as this is what this site is all about....

Help for as many as poss.

.......Hopefully before hard earned cash gets wasted :)

'appy trading!!!

Andi
 

jaykay3

Member
86 0
My yearly Subscription to Options Trader expires next month and I shall NOT be renewing. The guy in question is a nice enough guy but we have only had 2 winning trades out of 10. Have definitely lost a shed load of money with this guy. But HEY he might just be having a bit of bad luck or maybe he got used to spending other peoples money when he was a big name at Bank of America and BZW Markets. He has lots of good excuses though in his weekly communique about why we have to keep cutting the trades at a fraction of the option price paid. The only good thing that has come out of being a member is learning about Options and realising that the Options Writer is the one who makes all the money. Look at the service by all means but BEWARE ! Actually you can pay a 3 month subscription and if you're not happy with the service they do give you 100% Money Back Guarantee. It may just have been a bad year...............

Hope this may have been of help.

Regards

Jay Kay3 :p
 

XPat

Junior member
21 0
Just joined T2W, so a bit late finding this thread but here's my view of Options Trader:

I cancelled my subscription for a pro-rata refund at the start of this year after losing a small amount over about 6 months. I would have lost more if I'd followed ALL the tips. After about 3 months, and some options which became worthless, I realised that I'd be dependant on the advice if I continued trading, so I just sat back - and watched all of my existing options lose value ...

It was quite amazing to see a later mail-shot which claimed successful results for the same firms over the same period that I'd been a member. Even allowing for trading costs, I felt the profit figures were totally false. Maybe he calculates profit differently ...

Also, the profit potential forecast when a new trade is recommended seems to be far too good to be true, and very often the options expiry date is so far in the future that if you take the trade, you're probably committed to remaining a subscriber for a long time - during which time you'll get more recommendations, of course!
 
Last edited:

stevet

Established member
917 5
options trading is only for the most skilled and requires a far higher expertise than any other sort of trading - since options have wide spreads and high leverage, and to understand options pricing requires specialised knowledge of pricing parameters involved

even writing out of the money covered options may seem an easy way to make some income - but still requires holding the underlying shares on adverse moves - and therefore to really make money with this strategy still requires the ability to trade in and out of the options on a regular basis
 

jaykay3

Member
86 0
Since posting above on 14/11/03, the 'Options Trader', which I am a member of until next month, have now dumped the 'Advisor ' Patrick Collier presumably because of all the money he has lost the clients who have followed his recommendations this past year.
They now have a new guy who is based in the USA and he is going to concentrate exclusively on US Options , something which Collier rarely did. I have decided to give the first recommendation a go and have taken out a very small no of call contracts
which expire in April and I will keep the BB enlightened as to how this new guy turns out for anybody who might be interested in joining the 'Options Trader'.

SteveT is right to point out to people that Options require great skills in beating the Option Writer - in fact when I opened my trading account the Broker warned me that very few people are successful at buying Options Contracts. My initial hope for paying a yearly subscription had been that my 1st profitable trade would cover the subscription and anything else made that year would be pure profit. Sadly it has not turned out that way!!
:( :( :( :( :(
 

dare2win

Newbie
2 0
Yes I am a subscriber to options trader too and went to a Patrick Collier seminar .. his presentation was good and logical but I have also lost money following his suggested trades indeed in the last thyree months since I subscribed I did not see one profitable one. Luckily I did not follow all of them otherwise I would have lost a lot more! I plan to cancel my subscription and hope to get a refund. I have no interest in trading options on the US market.

I have been trading options for the past five months and am generally ahead. Mainly through writing naked options ( high risk... take extreme care). A lot of the real options I bought just bombed not helped by big spreads required by the market makers.

Am now concentrating more on cfd's which are a kind of option without the spread as I see it although again they are high risk.
 

XPat

Junior member
21 0
jaykay3 said:
I have decided to give the first recommendation a go and have taken out a very small no of call contracts
which expire in April and I will keep the BB enlightened as to how this new guy turns out for anybody who might be interested in joining the 'Options Trader'.


Hi JK3!

Any good news for us regarding US options?!

XP
 

jaykay3

Member
86 0
ermmmmm fraid not - the April Calls and one other trade have been the only profitable trades so far. The new guy doesn't seem to be any better than his predecessor. Hang onto your money for now ! I am still on a freebie trial that we all got when Collier suddenly departed but I won't be subscribing if this performance continues ! Will let you know if any come good.
 

XPat

Junior member
21 0
jaykay3 said:
Hang onto your money for now !

Thanks, JK.

Probably good advice for all Fleet Street Publication services, and I've tried quite a few others (Chart Prophet, Investor's Edge, D-Wave, Spread Trader, Red Hot Trader).

Strange how I always seem to join just before a flat period where nothing happens ...

Best of luck with it - looking forward to some good news from you one day.

XP
 

Vinden

Newbie
1 0
Spread trader

Hi XPat,

You mentioned FSP's Spread Trader: I've subscribed to it for a while, but haven't made any trades using their services yet (was using something else). Do I assume that you had no success with that? I was about to start using it so any guidance would be much appreciated.

Incidentally, I used an FSP publication in the 80's with some success....

Further question: has anyone used FSP's "Swing Trader" service, signed by William Akerman? 2003's track record seems good. Not cheap at £495 pa but....

Thanks in advance.
 

hampy

Well-known member
276 5
Vinden,
I subcribed to Spread Trader last year and was particularly unimpressed. I think that in the short time I remained a member youl'd have done just as well sticking a pin in the pages of the FT to select trades. The suggested stoplosses were so wide that the risk/reward ratio was just appalling.
The only good thing I can say was that they honoured the pledge and refunded my subscription when I rang

hampy
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock