some good picks
poor customer service
there are newsletters with better reputations available
OptionsGenesis Trade Picks Review - More winners than losers (or vice versa)?
This review will examine one of these 'options newsletters' - essentially email tips for various types of stock market trading sent out to subscribers at not inconsiderable cost.
So... OptionGenesis Trade Picks: how do they fare in this, the most volatile and tempestuous of markets?
An option is the right, but not the obligation, to buy or sell a stock for a specified price on or before a specific date. Option trading has grown hugely over the last few years, mainly because there is less initial outlay and (in principle) the risks are predetermined - you lose only what you paid for the option.
'A simple and efficient solution,' OptionGenesis claims. '...The method to make money trading options without the need to dig for the needle in the haystack.'
This solution is to provide customers with a strategy for approaching the market, managed, 'by a group of professional traders.' Every week 'picks' are emailed to subscribers along with information on what they (the professional traders) are up too. Options are the favored trading method because (they claim) options are flexible and can create many different risk/reward scenarios.
Yes, but how good are the picks?
The website tabulates the results from OptionGenesis picks over the last five years. There are some losses, but it is clear from an initial browse of the tables that the results are good, with considerable profits made.
And this is backed up (on their own website, it should be noted) by customer recommendations.
'I never have seen such good result,' says one. 'I just gave it a try for 2 months. I followed exactly your picks and recommendations. After 2 months, I gained more than 300% profit.'
The FAQs also generate confidence, with sensible warnings over how to trade. 'Resist the very strong temptation to "make a killing" on one or two trades,' they say, '...just keep it slow and steady.
They 'love' spread trades because of the low risk and recommend a minimum of $3000 to start with, because this is the smallest amount that can be 'spread' this way.
So, what is the system based upon?
According the the website there are two systems, which select picks based on technical analysis and financial news. The process is '100% mechanical' with no emotions or subjective judgements. Through this system you 'can expect more than 10 quality profitable picks per month where you can gain easily on average more than 40% profit.'
(Depending on market conditions, of course)
The newsletter costs $499 per year, with a 15 day free trial (and some big disclaimers, so read the small print).
'Our past results prove our strategy works,' they say.
But what do the customers say?
Unfortunately, there is little feedback available, despite extensive and imaginative searching!
The information I did find sent the credibility scales up and down like a yo-yo.
'Good picks, says one, 'and relatively cheap.'
However, users didn't like the fact that the technical analysis was not revealed and that the picks were limited, 'sometimes only 2 per week.'
'Very accurate picks if you stick to the plan... most of the signals are profitable.'
But then further advice says DON'T rely 100% on the picks from OptionGenesis.
'I did my own homework too. But I'm still happy as long as I'm not losing. I definitely will recommend their services to everyone.'
Unfortunately there seems to be a serious problem with customer service from this company. 'I could never get a reply from the service provider,' said one user. 'I have given up trying to contact the author (website registered in Malaysia) and I trash all his emails now,' said another. This does not sound like a 'market professional'.
And it is clear from the forums that other similar services are more reliable with excellent response times and support.
These are discussions from reasonable, knowledgeable people, who know that the markets move in cycles and that investors should be prepared for drawdowns.
However the most worrying information is the suspicion that published results can't be duplicated by actual market data.
The recommendations are vague, says users, not advising on a hold period, or giving guidance on when to close out. One user claims (in a detailed email review) that the published profit figure could only have been obtained if the trade was entered right at the open and closed about three hours later.
In a nutshell - there are some great systems out there, but this does not appear to be one of them! They DO pick winners, but their website claims are exaggerated.
Plus there is little detailed information on the company. They are not listed on profiles of premium newsletters and seem to have little profile in the industry.
Check it out before buying.
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review site with user forum
discussion asking for information - none given
profiles of newsletters by trusted source - optionsgenesis not listed
Reviewer has not owned or tested this product, all information contained in this review is based of research the feedback of others that may or may not have owned the product.
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