Will you really be able to "double or triple your account in one week" with what you learn with Option Profit Accelerator? Is this really as great as it is said to be? Is it a scam?
In this review of Option Profit Accelerator I'll be going over quite a few things you should know beforehand. I'll be talking about what is in the book, the misleading marketing around it, upsells and more. But first let's talk a bit about why you would want to trade options in the first place...
Why Trade Options?
Well, there are a lot of good reasons you might want to trade options versus trading stocks.
For one, trading options usually doesn't require as much money to get started. You can trade with smaller amounts and still have big profit potential.
With options you can use leverage to get big returns without investing so much capital. This can be more risky, but if you have a good strategy and know what you are doing it can pay off handsomely.
You also have more ability to customize your trading strategies more with options as opposed to stocks, such as by choosing trade duration, using directional strategies vs non-directions, and so on.
The Downside: Well, as you probably already know, trading options can be a risky game, and generally speaking it is much riskier than trading stocks.
This is is where Option Profit Accelerator comes in... so that you can learn from a professional and hopefully profit with a good strategy that will mitigate the risk.
What Is Option Profit Accelerator?
- Name: Option Profit Accelerator
- Type: eBook on option trading
- Author: Jeff Bishop
- Price: Free
- Recommended?: For most
Overview
Option Profit Accelerator is a free ebook by Jeff Bishop that teaches people his strategy on trading options, which he has been very successful with himself. The book is written so that even beginners with no experience can follow along and is based on the same exact system Jeff himself has used to make millions of dollars.
This is great because, as we know, trading options is a risky game if you don't know what you are doing. Learning from a professional with experience can be priceless.
As far as marketing goes, Option Profit Accelerator is marketed in extreme ways and comes across as very salesy, which is probably the reason you decided to do a little extra research and came across my review now.
Overall the ebook itself does provide a lot of valuable information and, since it's free, it can be worth the download... however a lot of people don't really know what they are getting themselves into.
Sales Tactics
This guy has ads all over the place. There is a good chance you came across one of his ad videos on Youtube, where he shows off his riches and brags about all the money he makes... which you can supposedly also make if you download his free ebook.
But what you have to realize is that he is spending insane amounts of money on this advertising. It certainly isn't cheap and how can it be practical if he isn't making money from his "free" ebook?
Well, the truth is that getting people to download his ebook is a way for him to collect leads, which is the beginning of the sales funnel. So I suppose he is making plenty of money off of up-selling people on his expensive trading services (more on this) to be able to run these ads and give away the ebook in the first place.
There isn't anything wrong with this, it's just important that you know how it all works.
Massive Profits & Risky Trades
It's also important to know that you should neither expect the results he shows you nor should you believe in them too much.
Of course in the promo material there are a bunch of winning trades with huge profits shown, such as these...
But how many losing trades were there?
How many bad trades did he take in order to get these 4 big winners that he is now showing the world?
It seems that a lot of traders promoting their courses, newsletters, etc. throw massive amounts of money into risky trades just to get some big wins that they can use for marketing purposes... but we never really know the truth behind it all.
They make a huge deal about their winning trades but are not transparent at all about losing trades, which we all know happen.
How Much Are They Really Making?
You also have to realize that much of the money he is making is coming from selling products, some of which cost ~$2,000 per year.
So when you see his fancy cars and riches, don't for a second think that all of that came from options trading. He is obviously making insane amounts of money selling his services.
Pure Lies
There probably a lot of different sales pages to get people to take this free offer, but this is what I came across...
As you can see, the free offer supposedly "expires at midnight" on Saturday Aug 17th, which is the exact day I came across it... and there are only 76 free copies remaining.
These are both lies, plain and simple. But for some reason it seems that lies like this have become acceptable in the online marketing world.
Anyways... the sales tactics here are pretty typical of this sort of thing... over-hyped, incredibly salesy, and they have that scammy feeling to them. But let's get into what Option Profit Accelerator provides and what you need to know about it.
Inside The eBook
The ebook is quite large, 51 pages to be exact, and covers a lot of material.
From the promotions I was already aware that it covered things like...
- Hedging and how you can "lock in" wins so that you don't end up losing profits
- How small moves in the risky options market can produce unmeasurable success
- Jeff's "inside secret" for finding options with large profit potential
... but we aren't really given much info other than that.
To Sum It All Up..
There is a lot of information here that may seem basic and which you already know if you have experience, but I'm glad Jeff included it so that anyone can read this book without being lost.
Topics that are covered include:
- Using stop losses
- How to time entries and scale into positions
- Knowing current market conditions
- Knowing when to go in big
- Risk management
- Not following the crowd
- Recognizing and understanding trends
- Different ways to trade options
He provides a good amount of charts to explain his strategy so that you know what to look for and how to identify a chart that has potential.
Strategy:
As I was doing my research into Option Profit Accelerator I found some people talking online about how Jeff recommends using directional market analysis with a 11/30 SMA (Simple Moving Average) to determine where he should enter... and that this is all done on a 1 hour chart.
I'm not sure if he changed his strategy up some along with the information in the ebook, but what I've found in the ebook is that he identifies "high probability trades" using SMA crossovers on a 13/30 hourly chart.
He suggests setting the time frames on the brokerage platform you are using, or other trading software, to that of hourly and then plotting the 13-period, 30-period and 200-period SMAs.
- When the 13-period SMA crosses over the 30-period SMA then this is a bullish sign
- When the 13-period SMA crosses below the 30-period SMA then this is a bearish sign.
Yes... it's that simple...
This is pretty elementary stuff right here. You might have expected to get some in-depth borderline-genius strategy that no one knows about, but this is how simple his trading is at it's core.
I have actually seen some complaints about this from people who were expecting a lot more and were disappointed with the basic strategy provided.
But I guess this should be expected to some extent. The truth is that it IS NOT this simple and there is a lot more to what Jeff Bishop does and how he finds winning trades. But of course he isn't going to give away all this information in some free ebook. As I talked about earlier, the Option Profit Accelerator ebook is really just part of a sales funnel to get people to buy into his expensive trading services--and I'll go over more on what exactly he is selling in a bit.
If You Want to Follow His Advice, Be Prepared to Take Risks
It's also worth mentioning that Jeff is a risk taker if you didn't already figure that out. He's a big fan of making big bets on risky trades that have the potential for high profits. So if this isn't the type of trading you want to get into, following advice from him might not be your cup of tea.
Obviously you are going to have to take some big risks if you want to "double or triple your account in 1 week" like Option Profit Accelerator is advertised as being able to do.
One of the risky areas that Jeff likes to capitalize on is stocks that are crashing but that big profits can be made on. This will be covered in the ebook.
Following Jeff's Recommendations
You won't get live recommendations from Jeff by just downloading his ebook for free, but he does offer other services where you can follow along with him and trade like a pro without actually being one... making all the trades he does.
ETF's are an area he likes to trade. One of the good things about this is that they have high liquidity and prices won't increasing drastically from followers making trades based on his alerts isn't something you will have to be concerned about.
Who Is Jeff Bishop?
I probably should have written this section before the last, but better late than never.
Jeff Bishop is a veteran stock trader that has moved more away from his own trading into the realm of teaching others how to trade like him. He has over 20 years of experience trading and has made millions from it.
Jeff, and pretty much all good professional traders, don't follow the masses when it comes to getting into and out of trades. He is what he calls a "contrarian", which is good because the market is always being overvalued in a bull market and later undervalued in a bear market due to too many people buying in and selling based on trends.
RagingBull.com
You may have come across his website Ragingbull.com at some point in time. It is an educational site that he founded where anyone can get free information on trading stocks, ETF's, and of course... options.
This website is actually the work of both him and Jason Bond, which you likely also have heard about in some of the promotional material. Jeff was a mentor to Jason Bond early on and they later decided to go into business together with all the trading educational courses.
Note: It is worth mentioning that Raging Bull LLC has an F rating with the BBB and is not accredited. There are also quite a few complaints, most of them stemming from misleading marketing tactics it seems.
MENSA Society
Something I found interesting is that he is an incredibly smart guy. I mean, I knew he was smart, but he is actually a member of the MENSA organization, which is an exclusive society for people with high IQ's. Only about 2% of the population is able to join--not that this information is all that important or anything.
Appearances
While doing my research I read that this guy has been featured on all sorts of news channels and media outlets, but I was unable to verify much of this information.
However, I did find a video where he was featured live on the floor from the NYSE, which is quite an honor and something that not just anyone is going to get an invitation to do.
The point of mentioning this is to let you know that he isn't just some person sitting behind a computer selling products he isn't qualified to sell.
Pricey Upsells
So, I mentioned a couple of times that this free ebook is mostly a way to lure in new customers. This is a business for Jeff and he makes a heck of a lot of money selling his thousand dollar + services to people. The free ebook is a way to collect leads in the beginning.
However, I am overall impressed with the content of the ebook. You are not bombarded with promotions and marketing tactics. It provides genuine value and without a doubt is worth the free download if you want a look into the mind of a professional trader so that you can see and learn from someone who has decades of experience.
That said, you will get quite a lot of emails from him. Since downloading the ebook I've been receiving emails daily, sometimes multiple emails per day. So just be aware of this.
Most of the emails are, in one way or another, a way to get you to join his Weekly Money Multiplier program, along with some being for his partner's subscription service called Jason Bond Picks.
Weekly Money Multiplier
I'm not going to go into much detail on this because it is not the point of this review, but since this is the main product being pushed on people who download the ebook, I'll touch on it briefly.
The Weekly Money Multiplier is Jeff's subscription service that allows people to follow along with current recommendations so that you can essentially trade like a pro by copying his trades. It is similar to other popular subscription services like Money Map Report and Nova X Report.
Subscribers get access to:
- Live Portfolio - You will get access to livesteams as Jeff makes trades
- Trade Alerts - He alerts subscribers when he buys or sells, as it happens
- Video Lessons - Subscribers also get access to a library of video lessons on basic and advanced trading strategies so that they can become better traders themselves, rather than just copying all of his trades.
- And more...
The cost of this is $1,497. Of course we are told that this is with a discount of nearly $6k, but this is likely just a sneaky little marketing tactic.
That said, it's hard to put a price tag on trading services like this.
Whether or not it is worth the money is a hard question to answer. This is pretty much completely dependent on how much money you make by following Jeff's advice, and the results can vary greatly depending on how much starting capital you have.
Option Profit Accelerator Pros v Cons
Pros
- Free
- Good advice from someone with decades of experience
- Packed with information
- Beneficial for beginners and people with trading experience
Cons
- Somewhat misleading promotions
- Upsells for expensive trading services (daily emails from Jeff)
- Risk involved even when following Jeff's advice, as there always is when it comes to trading
Is Option Profit Accelerator a Scam?
This section probably isn't needed, but there are some people calling this a scam so I want to make it clear that Option Profit Accelerator is NOT a scam.
Honestly I was expecting it to be more 'scammy' and was pleasantly surprised by what is provided. I was thinking it would be more of a salesy ebook but instead found it to provide a lot of good information and value, with very little selling going on.
It is the follow-up emails that you will get which will be doing the selling, as mentioned.
Conclusion & Final Thoughts
Ok, so let's do a quick recap to put this all together.
Options Profit Accelerator is a free ebook by Jeff Bishop that gives you a look into how he trades options and his strategy that has made him millions. The ebook is free, but in order to download it you will have to provide your email address, which Jeff and his team will use to contact you regularly to push you to subscribe to Weekly Money Multiplier and other services offered.
Do I think it's worth downloading?
I would say yes. You might not agree with his strategy and if not that is fine. You can walk away with no money lost.
Just use an email address you don't really care about if you don't want to be bothered by all the promotions he will send you.
Please let me know your thoughts on Option Profit Accelerator in the comment section below. I like to get feedback from my readers.
I hope this review painted a clearer picture of what this is and what it's all about.
Take care!
PS: Be sure to check out my top income ideas or jump straight to this program I use to generate income online if making money from home interests you.