Report: #1359341

Complaint Review: Trade Like Chuck

  • Submitted: Thu, March 02, 2017
  • Updated: Thu, March 02, 2017
  • Reported By: Pitrader — Chicago Illinois USA
  • Trade Like Chuck
    1025 W. Innovation Dr.
    Kearney, Missouri

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I bought the book Trade Like Chuck. He claims to be an 8 time International Trading Champion. He may have been although, I find it hard to believe. I have been trading for about 20 years an I'm a Chart Analysis. I wanted to see what I could possibly learn from this supposed Champion. Well I learned in my opinion he is a fool. I matched my trading methods with his. On several of his trades he either got in too late and he passes bye where he could make significantly more. I reviewed his trades CI where in his book the dates are 07-05-13 (he doesn't tell you the year or years invested. I was able to use my charting program to figure some of them out.) 200 shares @ 73.74, 07-05-13 250 shares @ $73.74 for a total risk of $33,183. He sold them on 10-18-13 for $74.61 and $74.60 for a profit of $174 & $215. During this rough time frame, I would have bought options on 06-11-13 CI Oct 72.5 strike price call option at $2.87 using roughly, his total amount for that day of $33,000 for 115 options. I would have sold those options on 7-26-13 for $6.75 for a total of $77,625 for a profit of $44,620. or 135%. I did this following his book on other trades showing the same results. He also uses in one of his claims purchases of stocks for FAS for 106.38 and sold them for 130.35. Unless I am missing something in the last 10 years FAS has never gone above 51.11 and that occurred on or about 2-27-17. Which would invalidate his profitable claims in that instance. His book has only shown me, he isn't very good at all. 

This report was posted on Ripoff Report on 03/02/2017 12:32 PM and is a permanent record located here: 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

How Much Did It Cost You? $6,000 $10,000 or $16,000 to join Support team?

AUTHOR: R.W. - (United States)

I bought the Trade Like Chuck book and read it... It gives you enough information to get you curious... You will then get Emails to join a Webinar that will also give you enough info to make you curious and confused if you are a beginner in the Market. Then the other shoe will drop and you will get a call from the Company that went in with Chuck Hughes to promote his system. Same type of Company that did those "Lazymans Way To Riches" real estate programs... They will ask you a bunch of useless questions to determine if they can SELL YOU on INVESTING in, and joining the Support Team... That is when the otherr shoe drops and you'll need to sit down and protect your wallet... I was told by one of the Webinars Son, that to join and have the support team help you or TRAIN YOU it would cost between $6,000 to $15,000 UP FRONT... So the precieved notion that you can start with $4,600 like Chuck Hughes did and make great returns... well that is missleading indeed. 

So unless you have several thousand to burn with no Guarantee of any sucess, this is probably not Affordable  nor a Safe Trade (Pun Indended) ... In my opimion, this is just another get rich quick scheme that makes Chuck and the Company who sells this program Rich and not necessarily You... After all, those infomercials cost them millions and some one has to pay for them.... Buy Beware!

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#2 Author of original report

Trade Like Chuck in my Opinion is still the scam

AUTHOR: Philip - (United States)

Yes I knew their was a potential stock split. Just wanted Chuck to call it out. I actually called his office to find out about the stock. He never called me back after several attempts.

I will give you a verry detailed analysis of just one of the poor choices he made. These are by the way right from his book. Note I use options as I love the leverage and have quite a bit of experience. So I only trade options.I will show how stupid this particular trade was. It is only one of the ones I will break down this throughly but He has many that a book can be written about the stupidity of his trading. Also, I trade only on using my Charts with algorithms I put together which is completely mechanical.

Here is an example of poor trading taken from his book....CI is one of the stocks he mentions in his book. It is a great stock at that time, only you need to know when to get in and when to get out.

Chuck says he got inon 7-09-13 and bought CI for 74.60 and a quantity of 450 shares for a $33,578 dollar RISK. He sold them on 10-18-13 for 74.60 for a -$8.58 LOSS. 

My Charts show after a sideways movement which began on 5-20-13 it began a upward movement on 6-17-13 (this is where my chart said to get in)It was trading at $68.55. It moved up for 13 weeks with a slight pause for 4 week in a sideways movement it went up to a peak during this move up at $83.81. Chuck though waited until 10-18-13 when the stock went down to $74.60. 

Now my Mechanical system would have me in on 6-17-13 using Options I would have paid $320 per option using his ruff figures bought 103 Call options at a Oct time frame and a $70. Strike for a total Risk of $32,960. I would then have sold them on 7-26-13 for $880 per option for a total of $90,640. for a profit of ruffly 175 %. The time frame just a little over a month.

As an aside on 11-22-17 I bought DIA Call Option Jan time frame Strike Price $230 for 695 I then sold it on 12-15-17 for 1690 for 143% profit and then reentered with a Mar time frame.

As I looked at many of his trades and some for significant time frames for extraordinary Risk for poor returns. This is why I say his book is a total Sacm

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#3 General Comment

FAS Did trade at the prices claimed by Chuck

AUTHOR: anonymous - (United States)

I question the integrity of this ripoff report. FAS traded to over $160 in 2013 and rose again from the low $50s to the $130s from 2013 to 2015. The author's tone of voice implies that he/she is an expert in trading. The author also uses this example in FAS as the basis for Chuck's claims to be false. However, missing something as basic as the 3:1 stock split in 2013 and the 4:1 stock split in 2015, completely discredits the author and negates the basis for his/her claim.

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#4 Author of original report

To Daniel

AUTHOR: Philip - (United States)

I Wrote a followup and have given you some advice on what you should consider. It is a lot of work but well worth it. In the two books recommended by Fred McAllen he mentions why buy and hold is not a winning strategy in Common Sense Investing. He is correct although he includes Amazon which was great then failing but has sky rocketed. There are going to be some exceptions, but his premis is correct. You can do better with ETF's That is all I trade in I invest in three of them for his correct statement you are not affected by one company. I invest mostly in DIA & SPY but also in QQQQ although the last is really heavily in Technology.

Some other things learn Candlestick patterns Steve Nisson's book was the first to introduce to the US but I prefer one on Profitable Candlesticks. Candlesticks by themselves will not be your most important. It is more of confirmation and a clue what is coming, but do not use them as exact an trade on them by themselves their not accurate enough.

My Accuracy developing my system is 87% to 91% their will always be a got ya. However their are ways to minimize the poor investment. I use a combination of things at different times all depends on where in the trade one is. Clue, I use a Following Stop Percentage. This is especially important if I'm on trip. I don't need to be by my computer and I'm very comfortable and sleep well knowing with the use of my charting system I'm making money even when I'm sleeping.

Good luck with your trading!

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#5 Author of original report

Rebuttal to Ted & Daniel

AUTHOR: Philip - (United States)

First of all I'm not a Day Trader and I don't look at my Computer all day to make trades. My trades are completely Mechanical. I've been trading for more than 18 years. My background is in computer science. I was Vice President & ran 35 computer centers across the US and now retired. I give you this so as to understand where I'm coming from.

I use my own Algorithms'. I use MACD with my own calculations, I use Stochastics again with my own calculations, I evaluate candlesticks & other time sensitive data I perfected over 18 years. All of which are in my Charts which I completely adhere to. I don't look or listen to the media. Everything is based on the Chart which is Pictorial an shows when I get in an when I get out. Incluede in those charts I also have layed out support and resistance. I only deal in Options which requires a more precise evaluation which my charts do superbly. I also use the CBOE Black Scholes calculator to evaluate the potential profits of each trade. I don't GAMBLE. I'm an investor.

To Daniel I have read maybe 100 books on investing have also taken 5 different seminars from beginning to advanced. But mostly I learned by experience in the market. I originally lost $100,000. dollars listening to someone I thought knew what he was doing. Then I started applying various principals I learned though some of the books and courses. But really had to change most everything until I hit on the right Algorithms' I created. It is a boon.

For the books I think are equitable I'll give you two to get started Common Sense Investing by Fred McAllen & Charting & Technical Analysis. Until you are proficient use paper trading. You need to come up with a Mechanical method or emotions will rule your investing and you will lose. It's not easy and the comments that the Kelter channel is a good method. Well if that is what Chuck Hughes uses it isn't worth the graph used in Charting. If it works for those who use it then go for it. But I tell you I've found many discrepancies in Mr Hughes claims. I feel it is a RIPOFF.

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#6 General Comment

Trade like Chuck ripoff/What else?

AUTHOR: Daniel - (United States)


Thanks for theinfo, I was about to buy the book. So if not Chuck, Who?

I'm looking for help in my trading and you seem to have had success.

Sounds like you use options.




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#7 Author of original report

to satisfied Chuck Hughes User

AUTHOR: - ()

To Chuck Hughes Satisfied User. I'm glad your happy with your results. I stand by my previous report. By the way I don't sit by my computer every minute and I'm not a day trader. I'm a swing trader and I've done considerably better than what you have stated. I'm a computer geek and have written some algorythms I use in my Chart Analysis that give me the information to exercise my option purchases. I wouldn't be surprised if your Chuck hughes or his associate. I have stated his performance written in his book and it is for all to see. Some of it is bogus, Period. If you are happy good for you but it is a scam and poor performance in my opinion.

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#8 Consumer Comment

It is working for me


 I just read the above ripoff report about Chuck Hughes' Trade Like Chuck program. I have been using Chuck's advisory service, which is based on these principles, since 11/2016 and I wanted to throw in my 2 cents. First off, I am not some Chuck Hughes shill, I'm just a guy who works all day and is trying to have his money make some money. I took a leap of faith and wanted to get in with someone who is a successful trader. Chuck's advisory is a trend trading system that generally involves selecting a stock/ETF that is in a uptrend based on his indicators. Then he will make recommendations based on various strategies: call option, option spread, buy write, married put, market neutral spread, stock purchase etc. I typically use his call option or call option spread advice. He also stresses the importance of entering the trade when it is in a favorable position in the Kelter channel. THIS IS NOT DAYTRADING. I do not spend my time, white knuckled, glaring at the computer screen waiting for something to move tick so that I can enter or exit. The author, and the above review, mentions that he could've done better because he could've gotten in sooner or exited at a better time. That's fine for you. I work all day and don't have the time or interest really to stay glued to a computer screen during trading hours. This actually appeals to me as opposed to it being a detriment to the system. Certainly, I enter a trade after the stock has started to climb, but the point is, Chuck has me get in when it's going up, and make monthly profits for almost the entire ride. The other thing I will say, without disclosing too much of his method, is that he selects options that most people do not because they don't want to pay for them. This method provides profit when the stock goes up and you don't lose everything if the stock retraces. I think he has done videos on his options selection method on Tradewinds. At any rate, In November 2016 I started using his method with $100,000. As of today that account, with no extra deposits, is up to $203,000. That is over 100% in about 7 months. Sure there was the "Trump Bump," but the market is not up 100%. Because of these results, I have recently diverted more money into his recommendations. Most of those have made a little bit of money, but they are still early in their lifespan. Obviously, he's not 100% accurate. For example he recently made a recommendation to continue rolling calls on DIS because the stock has not met his criteria for a pullback. I use some other indicators whenever he makes a recommendation and decided not to get into DIS, because I think it's in the process of tanking. So, my opinion of Chuck's methods are that they have been very successful for me and that his Advisory has made me real money in a fashion that does not require constant attention to my positions. If you were a daytrader, you might not want to use his methods. If you're a trend trader, I think you would be very successful taking his advice. Good luck!

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