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Past Experience with Wendy Kirkland


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Past Experience with Wendy Kirkland

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  #11 (permalink)
Houston, TX/USA
 
Experience: Beginner
Platform: Sierra Chart
Broker: Sierra Charts Data Feed
Trading: Futures
 
Chrismind's Avatar
 
Posts: 68 since May 2013
Thanks: 40 given, 101 received

Are people taking her seriously? WTF? Here is another reason to keep on walking.


Quoting 
. There’s nothing to learn: Just follow the plain-English trading signals 5 to 10 times a
month.

Are you kidding? Nothing to learn? And to make matters worse, it seems that she's marketing strictly to older retirees. I don't care what the system is. If you tell people you can turn "$600 into 78K in 60 days", say things like "no need to learn anything", and market mostly to elderly folks, then you are not doing ANY one any favors except for yourself. This type of marketing is what gives trading vendors a bad name. She should seriously feel ashamed of herself.

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  #12 (permalink)
desert CA
 
Experience: Intermediate
Platform: NT7, TOS, CQG-trader
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Trading: CL,NQ,YM
 
Posts: 2,130 since Jul 2011
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mgtrader View Post
Check out some of the comments regarding Wendy Kirkland's services on the following link:

Wall Street, Mean Street and Me: Options Animal (Wall Street)

Thanks, a link to some particular ones that stood out:

Wall Street, Mean Street and Me: Options Animal (Wall Street)

Folks, there's the free "Liz and Jenny" show, and all the archived shows are free with free registration.
https://www.tastytrade.com:443/tt/shows/LJ

Yes, they don't teach enough how to gauge a stock or market directionally or when it consolidates enough for a delta-neutral spread to work out, but there are several modes of thought one can pick up elsewhere on that. What they go over is very effective spreads and single short puts and especially how to gauge the option chain spreads to find a "good deal" on a spread itself and they also watch volatility and have ideas for earnings plays. And they talk a lot about the risk in a position and why a naked call isn't usually a great idea etc. so at least they have an overall plan as they discuss each trade.

Long naked calls can work if you are a magically prescient swing trader i.e. always know where and when. Some also like to use long naked calls/puts for daytrading with leverage as an alternative to buying stock or futures contracts.

Just recommending while we hear the same old expensive newsletter deal which fall apart when the market goes out of whack!

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  #13 (permalink)
desert CA
 
Experience: Intermediate
Platform: NT7, TOS, CQG-trader
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,130 since Jul 2011
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Chrismind View Post
Are people taking her seriously? WTF? Here is another reason to keep on walking.

Are you kidding? Nothing to learn? And to make matters worse, it seems that she's marketing strictly to older retirees. I don't care what the system is. If you tell people you can turn "$600 into 78K in 60 days", say things like "no need to learn anything", and market mostly to elderly folks, then you are not doing ANY one any favors except for yourself. This type of marketing is what gives trading vendors a bad name. She should seriously feel ashamed of herself.


Good point, another common vein about typical options newsletters and their marketing is they never say one can lose a LOT. With a single call or put maybe one could make $2k , but most likely it could also lose $5k (like > -150%) or more on a gap south and you find out when you wake up, or after coming back home during a weekday! And they usually say little or nothing about trade management like stop losses, or stop loss points.

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  #14 (permalink)
San Diego
 
Experience: Beginner
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Posts: 310 since Nov 2011
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Thanks mgtrader and Cloudy for the link to Wall Street, Mean Street and Me: Options Animal (Wall Street). Bev (who writes that blog) is really high on TastyTrade now and I have seen Cloudy mention them more than once. Great site! I learned options a long time ago from Optionetics and paid a lot of money to them. TastyTrade is free and has a ton of great education about options. Can't beat that.

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  #15 (permalink)
Diamonda Bar, CA/USA
 
 
Posts: 21 since Jan 2013
Thanks: 4 given, 7 received


Chrismind View Post
Are people taking her seriously? WTF? Here is another reason to keep on walking.



Are you kidding? Nothing to learn? And to make matters worse, it seems that she's marketing strictly to older retirees. I don't care what the system is. If you tell people you can turn "$600 into 78K in 60 days", say things like "no need to learn anything", and market mostly to elderly folks, then you are not doing ANY one any favors except for yourself. This type of marketing is what gives trading vendors a bad name. She should seriously feel ashamed of herself.

Hi Chrismind,

The phrase "nothing to learn" is referring to Wendy's advisory service where she emails her trade alerts. If traders are not interested in learning her system, they can use the alerts for entry and exit. I am interested in learning her strategy and was told by the support that the complete strategy manual is included. I was also told that the manual will provide the complete system rules.

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  #16 (permalink)
Diamonda Bar, CA/USA
 
 
Posts: 21 since Jan 2013
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Cloudy View Post
Good point, another common vein about typical options newsletters and their marketing is they never say one can lose a LOT. With a single call or put maybe one could make $2k , but most likely it could also lose $5k (like > -150%) or more on a gap south and you find out when you wake up, or after coming back home during a weekday! And they usually say little or nothing about trade management like stop losses, or stop loss points.

Hi Cloudy,

Thanks for sharing the tastytrade link. It offers great educational videos on complex option set-ups. The return and risk on these set-ups are usually much smaller compared to buying a call or put option. I am looking for a system that can accurately identify a stockís direction within a short time period. The trading performance from the QQQ system shows a 90% accuracy with an average holding period of 3 days. It also has an average reward to risk ratio of 4 to 1. In addition, the risk of purchasing a call or put option is limited to the premium thatís being paid. The max I can lose is 100% of the premium plus any commission. I can manage my risk (maximum potential loss) by adjusting the number of contracts and/or the strike price. In the example you gave, are you referring to naked calls and puts?

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  #17 (permalink)
Diamonda Bar, CA/USA
 
 
Posts: 21 since Jan 2013
Thanks: 4 given, 7 received


BeachTrader View Post
Thanks mgtrader and Cloudy for the link to Wall Street, Mean Street and Me: Options Animal (Wall Street). Bev (who writes that blog) is really high on TastyTrade now and I have seen Cloudy mention them more than once. Great site! I learned options a long time ago from Optionetics and paid a lot of money to them. TastyTrade is free and has a ton of great education about options. Can't beat that.

Hi Beach Trader,

How was your experience with Optionetics? Does it teach any specific strategy that has similar performance to the QQQ system?

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  #18 (permalink)
Diamonda Bar, CA/USA
 
 
Posts: 21 since Jan 2013
Thanks: 4 given, 7 received

As of right now, we have 7 people interested in the group buy which comes out to $142 per person. I will let everyone know within the skype group the final cost by this Friday. A new email and password will be created and send to everyone who made the purchase to receive alerts. If the strategy guide is in PDF I can easily email it to everyone, else I'll have to scan it then upload it. A skype group will make it easier for everyone to talk to each other and arrange future group buys. This will also enable people to trade or share materials they already have. On top of that, everyone can inform the group new materials they are interested in and have the group review them.

If interested, PM me for my skype username.

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  #19 (permalink)
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
 
Posts: 1,147 since Feb 2010
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jamusued View Post
Hi Cloudy,

Thanks for sharing the tastytrade link. It offers great educational videos on complex option set-ups. The return and risk on these set-ups are usually much smaller compared to buying a call or put option. I am looking for a system that can accurately identify a stockís direction within a short time period. The trading performance from the QQQ system shows a 90% accuracy with an average holding period of 3 days. It also has an average reward to risk ratio of 4 to 1. In addition, the risk of purchasing a call or put option is limited to the premium thatís being paid. The max I can lose is 100% of the premium plus any commission. I can manage my risk (maximum potential loss) by adjusting the number of contracts and/or the strike price. In the example you gave, are you referring to naked calls and puts?

I've never traded options, but in any other type of trading a system with a long-term 90% win percentage and 4:1 ratio is pretty much impossible. Sounds a little hinky to me.

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  #20 (permalink)
Legendary Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,847 since Jul 2012
Thanks: 1,490 given, 5,559 received


I wish the group that buys the product all the best, but I personally think you are going about it the wrong way (assuming a "group buy" approach doesn't violate Wendy's Terms of Service, which I am guessing it does - 7 people are benefiting from 1 subscription, which doesn't seem right )...

The alternative approach I'd recommend:

1. Learn all you can about options, through books (free from your library), the Internet (most basic info is free) and this website.

2. Decide on an approach (buying options, selling options, etc.). Research your desired approach. (here's a great thread on one approach to selling options: https://futures.io/options-cfd-trading/12309-selling-options-futures.html)


3. Once you have an approach that you think will work, paper trade it or (ideally) trade it with small size. You can backtest it too, but options strategies are tricky to backtest, due to lack of data, liquidity issues, etc.

4. Slowly build up size, and maybe add complementary approaches, as you gain confidence.


I followed this exact process at start of 2013, and am now trading options as detailed in the aforementioned thread. I am aiming for 40% annual return, and I feel this is well within my grasp.



Good Luck!

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