Beware! Dishonest & Unprofitable
It kills me to say this becaue I really like to believe the best in people but for the sake of the next guy, I really feel complelled to document my observations and experience. I have been with OptionPrincipal for 2 months now. I joined based on their published results. I signed up for 2 services the weekly and monthly service. I am experienced with options and I completely understand they are volitile and carry risk.
For the record, I will say that Joe is a momentum trader that buys after a big display of momentum and expects it to continue. There are times when this strategy is ideal like when the market it bursting. However, much of the time consideration given to technical entry and exit timing will produce far more consistant results. Since I joined, the market is up 5% and my portfolio which models his sample in size and trades is down at least 40%.
Joe has an amazing ability to enter at the exact moment the stock is turning.(I mean he buys the call just before the price plummets.) I have observed around 80%+ or more of his pick down several day after we enter and most of them don't pop back up either. Oh, theres a rare few that do and those that do, he pumps to would be subscribers as wild successes. Much of what he says has an aire of deception. Whether reporting a stock as doing well and looking positive because its up .2% on the day while already having lost most its value since we entered. Or advertising a major win when his option increased significantly in his favor but forgetting to mention it was only the second half of his position. Given the first half had lost so much value, he doubled down and barely got out of the position alive and then claimed victory on his second half like it wasn't being used to bail out the first.
He is full of hype. Recently he wrote "...our guys are making money while most traders watch..." after he quoted probably the only winning trades he had for the entire month. Oh, no, no... We are not making money. We are loosing our shirt. Because the rest of them were abismal loosers.
Furthermore, I just noticed the weekly service I signed up for and thought I was getting has magically vanished from his website. Not a word was breathed to subscribers of course. There is just no accountability, integrity or transparency. Now of, course he is selling his service for cheaper because he's not selling the service I paid for. Doesn't that deserve a mention to subscribers? Let alone acknowlegement that he failed or at least some voluntary price reduction to what the new subscribers pay??
Is this just a bad spell? Maybe, but how could I tell. He's made over 30-40 trades over the last 2 months and has not posted a single trade for the last 2 months. I even asked him directly. Why, well his performance stinks and he doesn't want new subscribers to know that. Yet he just proclaimed that his guys were making money. NO! Not true.
I don't know what long term merit he has. I don't know if his posted historical performance is accurate. I can tell you that he displays a lack of understanding of when to enter and exit technically and I think this is critical with options. He definitly overstates, misleads, fails to communicate, obvuscates, and at times just lies. Beware my friends.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
2 of 2 people have found this review helpful.
Was this review helpful?