OptionPro.com: Is it for real?

A

AspenTrader

Before I sign up as a subscriber to OptionPro.com, I should ask any of you the EliteTraders to share your opinions. Is it possible to be successful by following professional signals? Are there any Elitetraders who are currrent subscribers to OptionPro.com? If yes, I would like to ask you a few questions.

Thanks,
Troy
 
I subscribed to Ron Price "Option Pro" for 2 years. I got in while he was still cheap- $175 yr. His "Portfolio" profits were unbelievable. My brother and I "paper traded" on a real time basis(we subscribed to MyTrack real time quote service $19.99 a mo and one of us constantly watched the screen during trading hours) for about 6 months then real money for about 11 months. We were able to achieve very good results, though not nearly as good as he was showing. We discovered that his "fills" were based on a recommendation just touching his fill price and that most of the time it was impossible to actually get filled at that price. We opened up an account with the broker he recommends, MY TRACK and the commissions were really hurting us. We also discovered that in order to make a profit from his recommendations you absolutely had to take EVERY trade
he recommended and for the # of contracts he suggested (usually 4). You lost on more trades than you won on but the winners were on average larger than the losses and his "GREAT" results largely depended on one or two lucky winning pops in a month and controlling the losses. The problem came in about the beginning of yr 2001. He did well in the Bull market when the trend was up but fell short when the Bear came to town. His commentary and technical analysis was fairly good and he did keep saying if you weren't really good at trading youshould step aside until the Market got better. I wound up losing about $1800 for the 11 or so months I traded real money off his service( -18% yr ROT). Considering we were doing on an average of 20+ round turn trades a month had we not been shelling out about $53 per trade on commissions we would have been profitable @ about $2,000(+20% yr ROT still not worth the time and stress). This was with a $10,000.00 trading account.

That's my 2 cents worth of experience.....or was that $2.00?? :)

MarjieM
 
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