Report: #1387788

Complaint Review: SlingShot Trader - Rockville, Maryland

  • Submitted:
  • Updated:
  • Reported By: David — San Francisco California USA
  • SlingShot Trader 9201 Corporate Blvd, Suite 200 Rockville, , Maryland USA

SlingShot Trader InvestorPlace Media, LLC Option Trading Rockville, Maryland

*Consumer Comment: Slingshot trader patience

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SlingShot Trader, an investment advisory service of InvestorPlace Media, LLC, of 9201 Corporate Blvd., Suite 200, Rockville, MD 20850, offers an options trading advisory for $39 for first two months and $39/month thereafter.

They state that they see "magnified profits each week", "we comfortably profit here at SlingShot Trader", you'll be comfortable with SlingShot Trader right from the start", "profitable short-term trades are ignited every day", the alerts are "fool-proof", "when you get in at the right price at the right time, then all that's left is getting out with profits", and "we're revolutionizing subscriber profits, delivering huge profits within days, whether stocks are going up or down, as our track record documents".

The ad provides a “track record” that lists 24 profitable trades with gains of 77% to 227%; this “track record” does not show any losing trades.

However their actual track record, which is posted on their site for subscribers, shows 102 trades for the past year with 50 losing trades and 52 winning trades before trading commissions and their monthly fees.

They recommend investing 4% or about $400 on each trade with a $10000 account, but this would have resulted in a loss of about $150 after commissions and their monthly fees.  (The gross profit before commissions and fees would have been about $531.)

This report was posted on Ripoff Report on 07/24/2017 11:23 AM and is a permanent record located here: https://www.ripoffreport.com/reports/slingshot-trader/rockville-maryland-20850/slingshot-trader-investorplace-media-llc-option-trading-rockville-maryland-1387788. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Slingshot trader patience

AUTHOR: Edward - (United States)

POSTED: Friday, December 01, 2017

Trading options is, of course, a risky proposition.  Howerver, my own experience with slingshot trader is that over the period of Sept 2017 through Nov 2017 my account is up 27.43% inclusive of commissions and fees.  I don't exclusively follow their advice.  I'm lucky to have generally dumped trades going poorly before their advisory tells me to.  Sometimes by days, sometimes just by hours.  It helps that I've done a ton of reasearch, so I can rely on the service for generally good advice and not blindly follow every step of the way.  I shoot for $500 +/- 20% on entering each trade.

This commentary is in no way intended to give personal investment advice, just telling you my experience.

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