There are some options trading web sites that simply take money from persons who do not know any better. Steady Options is head and shoulders above that. However, the two separate quarters in which I have subscribed did not turn out to be worthwhile.
Holding popularity contests among strangers when dealing with financial matters is a ridiculous notion; scarcely different from counting cash while walking through a strange and maybe dangerous neighborhood alone. Unfortunately, there has been a Like/Kudos button in the forums of Steady Options. The section can be necessary to follow in order to get any important information on trades. Further, you can get all of these other emails from persons asking questions, or just making noise.
The most recent time I subscribed, there was a transition underway to try a Reverse Iron Condon (RIC) strategy, which had little success. No refund or credit was offered or implied. Still about three months of losing trades went by in exchange for hundreds in subscription fees.
Maybe if you stick with it for a year you can mirror everything and match the performance data posted. To do that, you need to get orders filled at the same time, after being notified via email, which can be easier said than done. So, let's say the web site makes 80% in a year before commission and fees. You use $10,000. You make $8,000, before commission, and pay $1,200 to subscribe. So, you would make 68% before commissions and after subscribing, if replicating all trades. That performance is not to be found in many other places.
My own experience has been that you try some trades and do not try others during a three month subscription. Not every trade is a winner. Other subscribers might have had a better experience.
I suppose it could pay off. It just has not for me on two different occasions. What you get is interactions that include persons when you might not hope to make online acquaintance, all sorts of emails, and a need to be glued to a computer at all times, else you might miss a trade, and even then you still might not get filled at the same price.
So, particularly if Steady Options has moved on from the RIC method, it could be worth it. It is unlikely that you can do as well as the site's posted performance, though, and that would be before the subscription fee and paying commission.
This review is the subjective opinion of an ourinterestingworld member and not of ourinterestingworld LLC
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