I'm doing a trial of Simpler Trading's Options advisory, which seems to be the only advisory that has John Carter in it, though he is only one of numerous traders/marketers who rotate through the room in 1hr time slots. They post their trade alerts in the room, but the trades aren't numbered and there is no record of these trades outside of the room. So they don't keep track of trader P&L. I asked them about this, and they said they're working on it. This is utterly laughable given the size of the organization (they have lots of admin staff who aren't traders) and the resources they have thanks to all those monthly subscribers and the never ending list of proprietary indicators.
Responsible retail traders track their P&L, but this organization does not. Seems to me there is only one explanation for why they don't track P&L - their traders are not profitable. But maybe I'm wrong. Has anyone found that any of Simpler Trading's traders are consistently profitable?
As for the Options room advisory, it's very disjointed because there are half a dozen traders on rotation and they are all using different proprietary (of course) indicators that you have to spend $$ on unless you spend the time to reverse engineer it because these are all very likely derivatives of freely available indicators. Because they're all looking at different things, it's hard to stay engaged as the focus switches every hour. The only consistency among the traders/marketers is their upselling you on indicators and courses. If you sign up for the trial, you'll see the upselling begins immediately after you hit 'submit', and it never lets up. John Carter comes across as a decent guy in his Youtube videos, but comes across as a sleazy salesman in how he runs this business.
So if anyone has had good luck with any of Simpler's traders, even if they are in a different 'room' than the Options room, please let me know so I can try to switch to them, thanks.
Edit: I'm reading Carter's book, and it's good so far, but he doesn't trade as you'd imagine from reading his book - seems he trades much looser.
The following user says Thank You to swinger for this post:
Yes, totally agree with every sentence. Purchased his book many years ago and considered subscribing to one of the many services offered. Receive 3 to 4 promotional pieces each week and have. Have requested substantiation of claims, but to no avail.
Carter and his team come across as honest and sincere but in truth the focus is on sales to the extreme. Would very much like to be wrong and your thoughts and comments on completion of your trial will be much appreciated.
Simpler Trading makes its money selling indicators and classes.
I tried the options room, the futures room and individual rooms for specific traders. did not make any money, but lost plenty. Risk management is nonexistent. The rooms are kind of like an alert service, but since a trader is only in there for a few hours a week, trade management is very poor.
The traders may make money, but not in the rooms since it is so sporadic.
I now am working on rebuilding myself as a trader.
