Help with Options & CFD selection service

[texlude]

Can anyone help?

I have been trading (or dabbling) with options and now CFDs for about 2 years and have had my ups and downs like most I guess.

I am looking to start seriously increasing my returns if possible and I wondered if anyone had any ideas in who I could approach?

My friend became a member of a company called Pacific Investor Group last month on their CFD service. On their website (which my friend reminds me I wont forget because its www.pig.com.au) they list as having traders who look at the market everyday and select trades and send the information direct to your mobile phone.

All sounds a bit too easy I know but my friend is really happy with the results so I’m thinking about giving them a go. Anyone have any other ideas in regards to something similar? I thought this was a good concept as it is less than $200 per month which is better than some of my losses!

 

[tech/a]

Re: Help with Option selection(s)??

Unless they are licensed ASIC would be very interested.

ASIC are clamping down on forums, seminars, educators and newsletters who give specific buy advice.

This would fall into that category.

 

[RichKid]

Can anyone help?

Hi Texlude,
I've deleted your identical post in the Beginner's forum. There are probably more derivatives experts lurking in this forum than in the Beginner's forum. Also have a quick look at our code of conduct link at the bottom of this page and the posting guidelines thread at the top of each forum.
Also be aware that no one here can give you financial advice about which investment or service is best for you but they may share their general views as tech/a has done.

 

[texlude]

Thanks guys,

I've checked out their website and looked at their Q and A page.

They are licensed to do this and I've checked the ASIC website too.

I'll keep an eye on their results page over the next few weeks and go from there.

Seems to look OK though. Thanks again.

 

[Smurf1976]

With any of these sorts of services you must ask yourself the question "why are they selling information rather than keeping it to themselves and making a fortune in the markets instead".

Think about it. Lots of hassles dealing with subscribers etc. Need to advertise and so on. OR just trade yourself and make $$$ if the system really is so good.

It might be fine, but tread carefully and don't invest money you can't afford to lose just in case.

 

[texlude]

Hi Smurf1976

Thats really good advice. Much appreciated!

I have checked Pacific Investor Group out thoroughly and they are licensed under the Halifax Futures and Securities banner. Ive come across a few current subscribers on other forums as well and they seem to be happy with the results.

The only way I'm really going to find out is to jump onboard. I'll take advantage of end of year offer they've got and see how they go.

I'll certainly keep you posted. If they can help with some guidence, all the better.

Kind regards.

 

[sam76]

Hi Texlude,

I also would be interested in seeing how they rate. I checked them out and they seem to be pretty up front. I also heard that Australian Stock Review are ok as well.

keep in touch,

Sam.

 

[keebab]

I had a friend of mine subscribe me to their newsletter (not appreciated but nonetheless) because he knew I traded options. I've read their updates and checked out their website. My primary concerns about their service is:

1: Their updates list at least one winning trade a week, yet their subscribers recieve up to 5 potential trades per week. One winner a week is great but what about the other four? The Australian Market is quite small and 5 potential 30% trade returns per week in my opinion is unrealistic month in and month out.

2: By their own admission their results for May & June exceeded their expectations which just happens to coincide with their sales drive to subscribe more users.

3: If you analyse the potential profit from running a website and SMS subscription services to say 1000 people for $1800-$1900 a year. Potential turn over of over $1.8 million. I think you can see exactly why they are doing it.

If you are time poor and prepared to accept financial loss for not making your own decisions then I guess there is no reason not to subscribe to the service but personally I prefer to accept responsibility for my trading success or failure.

Just my own 2cents,

Cheers

Mick

 

[Milk Man]

Theyre a great way to manipulate the market if you get enough subscribers- or they could just recommend micro-caps so they dont need much interest to generate a move.

You dont have to be a genius to pick the right stock if you ramp it up through your newsletter.

Could be a good idea to get on-board anyway- just be prepared to jump off the stock before everyone else and your in business. This is called "fishing"; i read about it in a book somewhere, either Guppy's or Leon Wilsons, using shares magazine as an example. You just buy whatever has a highly featured story and sell about eight weeks later. I think the results were pretty good too.

 

[sam76]

Hi Texlude,

JUst wondering how you (or anyone elso for that matter) went with PIG?

 

[happytrader]

Hi Texlude

Always check out their trading history and more specifically look for small losses. If they are any good they should be able to at the very least get one out of three trades right most of the time after all they're getting paid for their expertise. Another thing is, you are competing with other traders for position so you might find the spread gets pushed up purely from demand and not an actual share price move. If you have no problems following instructions they might be worth a look.

This is merely my opinion and should not be seen as a recommendation.

Cheers
Happytrader