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BookingAlpha

My name is Trevor Vernon and I created BookingAlpha.com in response to the events precipitated from the financial collapse of 2007-2008. After years of generating additional wealth for already wealthy individuals through my hedge fund and various other holding companies and financial activities, I had a wake up call. Witnessing family, friends, and complete strangers being adversely affected ,and many totally devastated, by the ripple effects of the collapse affected me in a way I didn't know that it could. The greed, complacency, and morally corrupt financial system that it is Wall Street cause this devastation to occur. What's worse was I realized I was a part of this. I toiled sucessfully for years to perpetuate an industry of thieves, liars and cheats; and it was all coming home to roost. I was mortified and ashamed to be associated with such a farce.

 
 
 
98 Total Reviews
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5-Star       (67)
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Top Review
 
Good Deal For $9.99
I haven't made any live trades yet, becuase I'm still trying to get familiar with complex options strategies. But from paper trading, the...
OptionsJoof
 
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90% of my money is gone!
I am a newbie Options Trader. I totally bought the sob story above. I opened an account with Booking Alpha mid 2014. I started with 10K with the hopes of earing money for retirement. I now have 1K. in the account. After confronting them about the loss, the return I received was "well we only had 2 losses" over the last few months.

My trader wrote the following when I asked where all of money went:

The first loss was $240. The other They took a 0.60 debit loss on their rolls (60*42 contracts $2,520) and they took the full hit at expiration of $ 8,400 (4200*$2.00 ( the difference between 115.50/113.50puts). This was a$10,520 loss before commission.

Poor choice. Stay away from this man unless you enjoy taking chances with the unskilled.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Option Trading
I wish someone forward this to Tim.

Tim,

I appreciate your service and I want to offer a suggestion that should provide validity to your service. Please change the ranking system you have for Newsletters. It appears that the rankings of Newsletters at Investimonials is based on popularity. Unfortunately cheapest wins over quality. To make my point, I am very familiar with BookingAlpha, and I can politely say that this newsletter is crap. There are a number of useful negative reviews about this Newsletter here, however reviews form the inexperience looking for the cheapest product, overwhelmed the negative reviews. "Popularity ranking" is the only reason I can see why BookingAlpha is ranked # 15, when it should be ranked last.

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Don't Risk It!
I joined BookingAlpha 4 months ago and in fact I'm still in a BookingAlpha trade that has taken a 45% loss (9 thousand dollars), was rolled twice, and is now below the 115.5 short strike, and is closer to the long 113.5 strike price which in the end could produce a 100% loss (for a total of 145% loss).

The IWM has been down over the last two weeks and it is unavoidable that this trade needed to be adjusted or closed. The problem with BookingAlpha is not that the current numbers are cooked; there have been a lot of winning trades in 2014. The problem is that trades frequently enter into the money (ITM). This current trade could have been closed or rolled for a minor loss at several different strike prices. However it's as if BookingAlpha is "hoping" that the IWM underlying price will rise and so adjustment/close rules are ignored which is not excusable.

If the stock market would have tanked you could understand that perhaps exiting the trade without a more significant loss was unavoidable, but in this case there was a steady progression down which should have been managed before the trade ever got near 115.50 (the short strike). I suppose the other problem is the lack of communication which is pretty much limited to when trades are entered or adjusted.

Be aware that one 100% loss on a trade takes about 20 weeks of successful trades to re-coup. A 45% loss nearly wipes out every cent I have made by investing with BookingAlpha over the last 4 months. I also trade with ManyWaysToTrade (Options Scalper) which appears to have a much better risk management record and has zero losses this year. They trade SPY (S&P 500 ETF) instead of IWM (Russell 2000 ETF) that Booking Alpha trades. ManyWaysToTrade does not let their trades get into the money, and whenever the underlying is near the short strike they will begin to send out e-mails to alert clients about what they intended to do, and under what conditions. You don’t get that from BookingAlpha until the adjustment occurs and so you’re in the dark (and worried) until the adjustment occurs.

I don’t have a personal issue with BookingAlpha, I’m in this to generate income. I also don’t hold the unavoidable against the newsletter. I do however have a real issue when a trade that could be managed well is allowed to go ITM and puts my investment dollars at risk. I will no longer be investing with BookingAlpha after I get out of this (now three week trade – which has been adjusted twice). FYI – I have been investing with the weekly options trading service at BookingAlpha.

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Honest Performance
I have been a subscriber to BookingAlpha for at least 2 years. My experience has been very positive. Overall I have made money with this service and have expended very little effort to do so. There have been some losing trades. And Trevor, the man behind BookingAlpha has learned from these losing trades and has been straighforward about it, resulting in an even better service with much better managed risk. Even though I use this service, I make my own judgments about whether to enter the trades suggested or whether to enter at different strikes than those recommended to adjust for my perceived risk assessment. I pay close attention to BookingAlpha's rationale for a trade opportunity and take a look at the charts myself and apply some of my own indicators. I do not always agree with Trevor's recommendations because my market views sometimes differ from his, but on the whole I think he does a great job of identifying good, low-risk trades that have made money for me. I have looked at other options trade signal services, some of which cost much, much more, but I have not found they do a better job overall than does BookingAlpha. And the higher subscription costs require you to have a larger account and make larger trades to cover the costs of the services. I see that there have been quite a few negative reviews for BookingAlpha in the past, which makes sense when people lose money on a trade and lose faith, but my experience is that Trevor is honest, responsive, communicative and committed to providing an excellent service and I believe he should be recognized for it.

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Beware - Do not be fooled by recent performance claims
I am an options income trader and gave this service (as well as a couple others) a spin for a couple of months in 2013 due to the strong performance claims the website made. The site appeared to be 'transparent' but I later figured out has basically cherry-picked the data....as others have mentioned the service completely blew up during my few months subscribing, sliding around 80% overall - as in, you would have to QUINTUPLE your money going forward just to get back to breakeven. Completely unacceptable lack of risk management. As an options income trader I know that in the right market conditions you can look like a genius and sit there collecting what seems like free money...but the true mettle of a trader is during the difficult periods and their ability to adjust or shut down losing positions. This service accomplished neither of those. And what's the most terrifying of all is that he blamed it all on exogenous factors such as the Fed, instead of reviewing himself and his strategy and what needed to change. He basically just watched as everything blew up around him and then complained about it not being his fault (a critical weakness in a trader is externalizing).

Apparently I am still on the free update / email distribution list for the service, which is actually what prompted me to write this review. The service is now asking people for positive reviews on Investimonials given their recent 'hot streak' - he's now bragging about a recent record of 33 winning weeks against 2 losing ones. Maybe he did tweak his strategy, or maybe it has just been an easier market to trade (basically treading water recently instead of the stronger trends in 2013 is an options income trader's nirvana scenario) - I know I've had much better results using similar strategies recently than in 2013. Newer members to the service have only known success, but I don't want anyone to forget that they basically put older members out of business just a year ago. The site is probably most appealing to novice traders looking for a simple strategy and 'easy money' so I just want to remind those people BUYER BEWARE.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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not reliable
They screwed alot of people

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Heavy losses, dishonest reporting
Booking Alpha used to be a decent, honest and transparent service but something very bad happened this year.

First, as you can see from the reviews, they experienced very heavy losses. In fact, the portfolio has lost around 80%. Losses are part of the game - however, 80% loss is completely unacceptable. Trevor blamed the markets and Mr. Bernanke for his failure, and then decided to do something which is almost unprecedented even in this shady industry: he just "reset" the portfolios.

In another words, the portfolio now starts from zero, like the loss has never happened. At the performance page, he has now two parts: 2013 (Jan to May) and 2013 (June to Dec). The most amazing part is that the Jan to May section (which has lost around 80%) still shows 41.42% gain!! No mentioning of the losses, and the post about portfolio reset is buried deep in the blog.

I would definitely stay away, despite the low price.

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Too risky, do not recommend.
I was a subscriber for almost 2 years and recently cancelled. Trevor is good guy, but I cannot in good conscience recommend the service. If you do sign up, do not do the autotrade. This will allow you to bail out of trades based on your own personal risk tolerance. Fortunately I did not use the autotrade or my account would be been blown up. Most autotrade subscribers experienced 80% losses. There is no way to recover from that and Trevor should have known better than to just let the spreads keep going deeper and deeper in the money. The risk is just too high no matter what the probability of a pullback is. I wound up losing approx 30% of my options account which is unacceptable but at least recoverable. Luckily I bailed out of 3 of the 5 spreads that went south, but the 2 that expired at full loss were painful enough.

Hopefully, Trevor has learned lessons from this. He got burned last year too and made changes to the service (only trading back month options to minimize delta risk) but went back to his old ways because he was certain markets would pullback.

One of my pet peeves about a lot of these credit spread services, is that they do not include rolled spreads as gains or losses until they are completely closed out. Trevor had some spreads that had been rolled for 6 months that had massive losses built up in the them, but you wouldn't find them in in the track record. I am sorry but if you roll a spread, you are still closing one out and opening another and it should be reflected in the closed trades. This is not a slam on BookingAlpha, a lot of other services do this as well.

Also, for anyone considering this or any other options service, they are appropriate for only a small percentage of your investable assets (10% or less, IMHO). I hope no subscribers had a significant portion of their net worth invested in BookingAlpha (or any other options service for that matter).

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Kiss Your Money Goodbye!
I’ve been a subscriber to Booking Alpha for two years and canceled my subscription after losing over 85% of my investment capital. Trevor repeatedly made very aggressive bets against the Fed with 100% of the Booking Alpha monthly portfolio with disastrous results, ultimately wiping out the portfolio. He found himself on the wrong side of the market last year as well due to his stubborn trading style but apparently learned nothing.

Two cardinal trader rules are: diversify your risk and live to trade another day. Trevor did neither. Options are, by nature, risky investments requiring sound risk management practices and discipline which are clearly lacking. Trevor deployed trades in very low volatility conditions which resulted in lower premiums for higher risk, he allowed spreads to go in the money without taking the necessary precautions, he criticized individuals who got out of losing trades early (they saw what was coming), his weekly market analyses were based on personal hunches and wishful thinking rather than an objective analysis of the facts, he deployed 100% of the monthly portfolio’s equity, leaving no cash reserves for adjustments and posted incomplete and misleading results for his monthly service while removing yearly returns data for the weekly service. Despite all this incompetence, he blames Bernanke for his failures! Trevor’s results speak for themselves and should be carefully considered by anyone thinking about joining this service.

After he blew up his monthly trading portfolio he decided to simply “reset” it by renaming the service and started issuing new trades. Unfortunately, our investment accounts don’t have reset buttons. Instead of booking any alpha, I lost plenty of principal subscribing to this reckless and amateurish advisory. It’s hard to believe that Trevor has the trading experience he claims after such poor performance. I am embarrassed about the losses I sustained but I feel the need to warn others about this service. After my experience, I would never recommend Booking Alpha to anyone as there are far more professionally managed advisories with better results available. I don't think that the smart money invests with Booking Alpha.

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Catastrophe !!! Lost 80% !!! Please stay away !!!
Fellow investors, I just cancelled his service today after being subscriber for more than a year.

During that time my account lost 80% (eighty) of its initial value !!!

I was subscribed to auto-trading service and entrusted him to make the right calls (I know :()

I'm writing my first service review ever just to make sure that no other people get burned by this incompetent fellow !!!

He got stubborn in shorting market rallies and recently started using f... bombs in his market analysis to justify his loses !!!

Recently he mentioned he might be changing name of the service since he started implementing new methods !!! Hide and seek !!!

Please, please stay away unless you want your hard earned money to be flushed down the toilet !!!

My worst financial decision EVER !!!

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