Seems to be a very good system, but too much leverage for me. Had a 12-contract position open on election day (reduced to 4 contracts overnight). It turned out well in the end...for those subscribers that stuck it out -- unfortunately I was not one of them. I would only recommend this system to those with a large account, or those willing to take a lot of risk. Also, be aware that there are no stops (unless they are kept internally and issued as market orders).
Longer term subscriber here. Know your risk/ DD tolerance before subscribing. The developer is short options for the premium and more often than not it goes to expiry making $$ for us.
**However be warned the risk of naked option writing**
In addition, those of you using IB as your broker will find the margin terms are super conservative and I have seen a option short just executed ( Eg for $500) chewing up $2500 to $3000 of equity on the account
When short options the developer can add to his position too.
We would advocate anyone new and wanting to subscribe to this not to go to 100% scaling, but using many multiples lower until you are familiar with his style and how your broker calculates the margin.
Overall we are pleased with this so far and it constitutes a small part of the overall C2 allocations
It's been a good system so far. The trades take little time and losses are kept under control. I'm happy that the developer doesn't use the Martingale system to 'recover' from losses.
As a negative i'll mention the subscription price which is quite high.
Thanks.
I have been asked to write a review after only a few weeks using the system. I prefer at least several months of real trading before knowing how a system performs however so far the performance has been well in line with what you'd expect based on its historic trends.
Still new to the system but the developer's communication and patience in answering my questions has been truly exceptional. The system makes a lot of sense and I see it as an interesting potential income generator as I would like to have this for the long-haul.
Until October 11 the system did nicely with short period trades, small gains and low drawdowns which i really liked (they were the reason I subscribed)
Just recently the developer decided one day to keep adding losing positions and hold them overnight. I find this move not in line with the strategy's habits and it made me lose some confidence.
Hope it will get back on track and stay away from risk and drawdown spikes.
A very risky system where the manager allow huge draw-down. No proper risk management, no stops, system allows to go big time against the trade, there was a chance to exit out of the loosing trade, even that chance has not been used. I am referring to Sept- Oct trade, which is still in the play with huge lost.
4 star rating is given from inception not the short time I've been with it.
This system had a strong start out of the gate but has been flat for the most part over the summer.
Important to know there is no draw down limit so difficult for me anyways to know how much to risk.
So far a very good experience. Not many trades as of today (2 in September and 1 so far in October). Compared to other future traders this is more on the low activity scale which is completely ok with me. What I like: he lets the winners run and thus generates a much bigger return then going for the smaller increments day after day.
A very risky system as indicated by the huge drawdown. This happened for two reasons. First whenever there is a drawdown the manager would double down using borrow money as happened on September 9 with disastrous result. Secondly, there is no money management or risk control so any drawdown is ignored and waited out until the trade turn positive which is equivalent to letting losses run. This is gambling because the drawdown may get up to 100% and blow up the account. This is not an unrealistic scenario considering that the manager is using borrow money. This system is described as a day and swing trading system but the manager definitely failed as a day trader since the big drawdown on September 9 happend during the day and not overnight like the Brexit event.
The manager is very knowledgeable and I have a good relationship with him. He always respond all my questions promptly, not only that, I learned a lot about option n his logic. If you want to know how good is the manager, you should how the mgr manage his live account during significant market drop, he managed smoothly during Brexit n 1 event when market was very nervous about increase interest rate, September 2016. You should expect huge volatility from this strategy. Bottom line, I recommend this strategy, he is not using Monopoly money, well diverse, good risk n return. I'm very happy with performance.
So far I am very happy with the System, it has shown consistent gains and low DD, stop loss order is always in place and it is updated as the trade moves. Developer is very responsive and communicates often.
Great system. Been with it for about 3 months. Just had a nasty drawdown. But recovered after 2 weeks. Trades are some daily, sometimes is weekly or monthly. Definitely does not over trade. Seems to be a algo/measurement driven system, At Least from what i can tell from he's emails. Developer sends out messages about once a week or 2. Cant complaint when im making money for doing nothing.
He only buys vix etfs, so i dont worry too much about option risk or futures over leverage.
