Traders are nervous and for good reason. Take one look at movies like White House Down and World War Z and you will understand why. Naturally, these are only movies, but the global economic collapse that has been in full swing since 2009 demonstrates that there really is something horrible going on. The markets continue to be low, yet the possibility is that they will get lower still. This is why it is time now to start considering stop losses. Stop loss orders or stop lossing is a trading strategy that most traders have wanted to avoid for a long time. However, it seems they are now embracing it, because it could actually enhance their portfolio. Dan Passarelli developed this system, which is what made him famous. He has now teamed up with Tradespoon’s Tim Biggan to develop a new resource to give people ideas to trade on the options market every day. But is this any good? Should we accept Passarelli’s track record of being good at what he does as a given that this next program is good as well? We decided to find out for ourselves.
Dan Passarelli and Tim Biggan really are giants in the world of trading. They started Market Taker Mentoring and Tradespoon respectively and their teams have more than a century of market trading experience combined. So, they decided to put their heads together and offer a system that combines the Live Advantage Group Coaching offered by Market Taker Mentoring and the Tradespoon Algorithm. In combining these two, people are really going to be able to get their foot in the door and become successful traders themselves.
One of the things we really liked about this program is the fantastic value it offers. Usually, the expertise of these two greats would cost you thousands of dollars. However, you now have the option of taking out either a three month or a six month package. This way, if you are strapped for cash at the minute, you are still able to make a start.
The three month package has a value of $1,122, but is selling for just $497. The six months package is even better value for your money. Worth $1,807, you can now purchase it for just $747. We know that this is still quite a bit of money, but you will be able to see a huge return on investment. In fact, if you haven’t earned your subscription back by the end of the period you purchased, you are doing something wrong.
The instructors for Market Taker have a combined trading experience of over 70 years. They have worked in real life options situations, rather than only developing strategies using theory alone. Some worked on the CME floor, others on the CBOE trading floor and many have written various books on option trading that have been incredibly well received. One of the instructors even worked right in the thick of things on Wall Street. Their experience combined should show you just how much expertise you are actually gaining access to when you sign up for the program. You will be able to access their latest strategies and tips each and every day, through the Market Taker LIVE Advantage Group Coaching Class that is included in the package.
These classes take place every day and will give you at least 15 trade ideas. Furthermore, you will be fully educated on how you should manage trades in such a way that you have the biggest chance of achieving good returns and a low risk.
The second element of the program is Tradespoon. This is a well-established name, started up by the previous head of technology at OptionsXpress. He is known to be the top dog when it comes to creating the architecture of a trading system. He designed algorithms by working together with a money manager and expert trader with 20 years’ experience behind them. After this, he put his algorithm through the test by analyzing it again and again, ensuring you are provided with precision trades. Through the program, we received access to daily picks, and these are chosen through tools that only the biggest names in the world of trading usually have access to. Hence, we felt our chances of a successful trade were greatly increased.
What We Like
There are lots of things we liked about this program. One of our favorite parts, however, was the access to the daily group coaching classes. This taught us:
• How to properly manage our own portfolio of options. We felt as if we had been doing this for years and as if we were full experts ourselves.
• How to access brand new ideas each and every day so we never felt as if we were stagnant.
• Any trading skills we already had can be developed to their full potential.
• That we gained access to a forum of likeminded individuals, where we were able to discuss and debate different ideas and concepts with professional traders as well.
• Previously unknown skills for trading so we were able to have the edge over others on the markets.
• Full, unbiased support and completely new and fresh perspectives from the real pros.
• Fantastic resources to select the right trades and implement strategies with the biggest chance of having a good return.
• Information and knowledge about when to exit a trade, thereby maximizing our profit levels.
The Tradespoon algorithm was the added bonus and had some amazing benefits as well, such as:
• Full monitoring of thousands of stocks, both on a fundamental and technical basis.
• Long-run earnings are fully tracked, as well as beta, correlation and stock vitality.
What We Didn’t Like
This program isn’t really designed for people who have never done any trading before. There is an expectation that you have at least done some research yourself. This doesn’t mean you have to be a professional trader, but rather that you must have a basic understanding of what the markets actually are.
We are hugely impressed with this program. We initially signed up for the three months deal to give it a try, and it has been worth every penny to us. It is almost like being part of an exclusive club of financial bigwigs!