This is my third and final review video on Steady Options out of Canada and I’ll cover my results after following Kim’s trades along with answering my 16 Review Questions.
Now first I want to clarify something regarding some of the comments I’ve been receiving on the Steady Options review videos. You may have noticed that when I said Steady Options I mentioned they were out of Canada because I’ve had quite a few comments from people stating that Steady Options took advantage of them and took their money. The people complaining look like they’re primarily from the country of India so I asked Kim, the owner of Steady Options, to comment on this and he said and I quote;
“There’s an Indian company that uses our name (intentionally or incidentally). Their website is down for the last few days (not sure it’s temporary or permanently). We have nothing to do with this company. It’s just a very similar name (SteadyOptions versus Steady Option), but this is the only common thing. We are a subscription-based service, we never take or manage other people’s money and we’re based in Canada not India.”
So I just wanted to clear that up before moving on. The meat of this video will be about the results of following Kim’s trades. And I followed his trades every day for four weeks. Now one thing I noticed when following his trades that I did not like was that the timing of the opens and closes were not always up to date. They were accurate, but not done in a timely manner.
For example, there was a trade that opened on a stock $SONO on November 15th. A moderator named Yaoster created the trade; Kim followed the trade and posted it in his open trades and he did it on the day of the open; which was that Wednesday. Now I followed Kim’s trades every day and when I came in on a Monday on November 22nd, the trade was still there in his open trades, but then I came in on Tuesday, November 23rd, and the trade was off of his open trade list.
So I went in to close the trade, you know, out of my tracking software and options within the trade actually expired the Thursday before on the 18th, but Kim did not show that he was out of the position until November 23rd. So the main thing to learn here that is if you’re tracking or following a trade with this service you need to make sure to track the trade rather than tracking the trader.
Okay, so let’s get to my results on following Kim’s alerts. Okay, so here’s what happened when following Kim’s trades over the four-week period. Let’s see I went into 16 trades, you know, you’ve got 20 trading days in a four week period so almost one trade a day. Not quite one trade a day and you can see the results after these 16 trades where some of them broke even some lost money some made money. You can see some of the results here. This is a big loser. So it looks like some of the losses were bigger than some of the gains and the gains were a little more consistent, but overall this was based on a $10,000 account.
So it lost $163 and this does include commissions even though his does not. But it’s down about 1.5% over that four week period. So I guess he’s got a lot of making up to do to get to 123% a year being down 1% or 1.5% in a month. Maybe had a bad month; I don’t know, but you got to be pushing like 8% a month or 10% a month or whatever to get to that 123%. And here down 1.5% now these are the results I got and I did follow his trades.
So as far as you know maybe following the trades my personal expectations would be pretty
low but as far as getting a lot out of this service definitely better than most services, I mean better than like 98% of the services that I’ve been involved with even though, you know, if you follow them you might not make money but you are going to learn a lot of things. And there are some things in there one thing in there in particular with an edge.
Next, I’m going to go over my 16 Review Questions so number one: can you share your portfolio P&L and your portfolio volatility?
Well, he does show his alert service so I was able to follow his portfolio for a month. I was able to follow his portfolio volatility for a month and of course his position sizing I liked because he does it based on a $10,000 account. So yes, the answer to number one is yes.
Number two: what is the edge? Kim never really answered that question. I didn’t really ask him because I did find an edge with one of the trade structures that he uses. And so I’m gonna have to say number two: was there an edge here? Yes, is the answer.
3) Is the course or the service proprietary? Yes, it was proprietary. You can’t get it anywhere else that’s for sure and there are some things in there that are, what I consider, different than what you can get anywhere else.
4) What kind of return should I expect? I know that he mentioned 123% return on his portfolio so he did give expectations.
5) Is the system directional? Well, you can sign up for different types of services and this particular one was not directional which I do like.
6) Do you recommend buying option premium or placing low probability trades? No we did not do that. We mostly sold premium.
7) Have you back-tested and forward-tested the system and what are the results and do they include commissions and slippage? I didn’t see a lot of back-tests. He says that he has the system with real money and the results so he doesn’t really need to back-test it based on that. It does not include commissions or slippage though in his back-tests.
8) Does he trade with objective rules and what’s the trade plan? No I don’t think he has objective rules per se they’re kind of loose. They’re pretty subjective, there’s not like concrete black and white rules here.
9) Number 9: does your trade plan take into account commission’s slippage? The answer was no. He does not add that in.
Number 10: what’s the highest margin requirement that your trade plan will allow? Well, he talks about that. He says this is based on a $10,000 account so he answers that well.
Number 11: do you share your real trade execution with real money? I didn’t see him trading with real money, but I don’t doubt that he’s trading with real money. I mean most of the time I’ll see people trade and I’m like I don’t think that guy really made that trade, but here I do believe that they make those trades. Now, did I see it happen with real money? No, I didn’t.
12) What’s the largest drawdown that you’ve occurred during all the crash markets? I didn’t get any information on that. That was number 12.
So number 13: what is your money management plan or how much capital do you allocate for trade in percentage terms? Again the money management was done really really well with this service. It’s based on a $10,000 account so the answer number thirteen that question was answered pretty well.
Number 14: what underlyings do you like to trade are they tax advantage? They like to trade many different underlines and no they are not tax advantaged.
Number 15: do I need to be in front of my computer all day or most of the day to trade the system? I would have to say the answer to this is yes; you need to be in front of your computer so you can see when the alert comes out, what the trade is, because you want to fill it relatively early or early on so you get similar results.
Number 16: do you share all the trades made in your account as you trade them? The answer to that is yes.
So overall looking at these 16 questions a lot of these were answered and that’s another reason why I would recommend this service. So I did put a link in the description if you’re interested in getting into this service.
LINKS MENTIONED:
Link to my FREE Proprietary Course
