Dr. Singh Options

[tjwebber17 0]

Hi,

 

I'm new in option trading and just wondering If you guys have any feedback with Dr. Singh options guru. I tried googling for review but nothing pops up ? He claims that he has 90% success rate (see below) 

What is my success secret and the secret of most self-made billionaires

Very simple: Do the opposite to what 98% of the world does. I learned this art from 12 poor immigrants who made billions using this concept. I authored a book, How 12 Immigrants Made Billions, when they made it to the Forbes list of the world’s richest people. With a total of $8 in my pocket, I rose from the slums of India to a mansion in the one of the wealthiest neighborhoods of the United States by using this secret to success.

[Edwin 63]

Here's reviews on Amazon on the book listed on the site:

http://www.amazon.com/Stock-Options-Work-Hour-Day/dp/1427638632/ref=sr_1_fkmr0_1?ie=UTF8&qid=1463016392&sr=8-1-fkmr0&keywords=Stock+Options+%E2%80%93+Work+%C2%BD+Hour+A+Day 

 

If you look at the print book preview to look at the Table of Contents, it's all basic options strategies he's listing.

Sounds like BS, unless someone can provide the actual trades and fills.  He's probably selling premium (strangles, iron condors, etc.) and rolling (closing out losers and rolling to the next month) or making adjustments to make bad trades look like winners.  Sounds like Tastytrade with more marketing fluff with a vague sense of an infomercial/get rich quickly, etc.

 

If you look at the youtube video, it looks like he's reading from a script:

Edited May 12, 2016 by Edwin

[Optrader 128]

selling pennies that expire worthless after 1 month holding is not fun trading. it has 100% success rates. But will not make you rich.

[tjwebber17 0]

Thanks Guys!

Hope this thread will show up in google when someone google his name for review because there's none out there.

[4REAL 110]

the video sure made me laugh....

This guy could be a "The Simpsons" character

[Guest Angela B - NY]

Thank you very much.  I saved a lot of money.

[Guest NewbietoOptions]

Very helpful. Thx folks.

[Guest Sat Nam]

I researched about Dr. Singh. His life is all about Giving. Read his contributions to the society by clicking on http://drsinghbooks.com/mystory.html.  He authored 12 books, some on the topics never touched by anyone in history. He is a genius who wants to help everyone with his knowledge and experience. He guarantees to refund the fee of his clients if they lose money based on his monthly recommendations. He claims that he does not consciously feels comfortable to charge any fee from anyone who lost money based on his bad recommendations is a depiction of his  great character. The fact that no one ever complained about him shows his honesty. It is wise to learn from someone who made tens of millions for himself and helped others make millions too.  

[Kim 7,943]

I would be VERY CAREFUL when someone says " "We guarantee that our options trading strategies will make you profitable every month from now through the next 12 months." 

[Guest RAJ]

I JOIN DR SINGH ALMOST A YEAR AGO.THE SYSTEM DID NOT WORK IN CANADA.I DID EVERYTHING THEY SAID AND FINALY ADMITED IT DOS NOT WORK HERE.I AM STILL WAITING TO GET CREDIT.SO MANY E MAILS.MOSTLY THEY DONT ANSWER.IF THEY DO IT GETS NOWHERE.I CALLED THE OFFICE THEY SAID IT SHOULD BE NO PROBLEM GETTING MY REFUND $1000US.SOMEONE WILL GWT BACK TO ME..THAT WAS IN JUNE 2016.STILL WAITING.ANYBODY ELSE HAD THAT EXPERIENCE/

[Guest Alejandro]

I signed up 3 weeks ago, was only interested in the weekly recommendations given their much higher potential profitability than his monthly recommendations.  First week it went well, 2nd week I lost on a trade with the winning probability of 80-89%, and last week I lost on a trade with the probability of 90%+.  Sent him an email asking for refund, to which got a reply that he only refunds on losing MONTHLY recommendations, and that he was sorry.  Good lesson for me -- read refund policy carefully.  He does say that he only refunds if the monthly trades go wrong.  So, if you are into weekly's -- STAY AWAY.  

[Guest joe]

This entire interview seems bizarre and very staged. 

 

[Guest Alex]

Worst Guy, Don't trust him, All concepts are very basic. Look at the video, full of scam

[Guest Frank]

I don't think this guy even knows how an option works. The emails he sent me at the end of 2016, begining of 2017 have an example prediction for the coming week that he challenges you to watch for profitability. Of the three weeks he predicted, one prediction made money and two closed out in the red. Yet, in the subsequent week's email, he claims they all were profitable. He even lists triple digit profits for the previous week's losing trade. I guess he expected nobody to actually check, either that or his reality is somewhat skewed. The numbers don't lie.

[Guest Lee]

Thanks for the comments and experiences that everyone posted.  It is a tremendous help to get info from folks that have gone before.  

Dr. Singh's ad copy says subscribers can see his actual trading brokerage account.  Has anyone here seen it?  Also, does he publish any kind of verified, real money performance?

The doctor appears to prescribe and sell snake oil.  I don't know of any guru/educator/advisory that publishes verified proof.  Does anyone know of one?

Thanks again.  My search continues. 

[Kim 7,943]

Not sure if you had a chance to look at our performance page, but we publish full track record. Each and every trade is there, winners and losers, and each trade is based on real fills and comes with screenshots of my broker fills.

[Guest Very poor customer service]

Beware of this service.  It will make you an automatic subscriber, continue to charge your credit card and not respond to phone calls or emails to cancel the service.  I have tried repeatedly to contact them and they will not respond to emails or phone calls.  Then, without knowing, they charged my credit card $995.00 through PayPal.  10 emails and 3 phone calls and messages since and CRICKETS.  All we were looking to do is stop the service but they don't care about customer service anyway.  So, as a solution, we are looking for those that have been taken advantage of by this company.  We have informed them by all means of communication we could to reach out to them but they do not respond.  As a company, we demanded a return of our charges several times without a response.  We have raised a few thousand to go after them legally if we have to but they could simply answer their emails or return phone calls and return our $$ and we would walk away but they do not respond in any way.  First we will take some of the money and hire online "hit men" to discredit this fraud, then we will begin a lawsuit against them.  As a 30+ year American Express holder, they are working with me to make this right and then, according to the customer service rep, make a decision weather they are worthy of taking the America Express card.   

[Guest Scamsearcher]

I got an email from Dr. Singh the first of April suggesting I sell a put option in Wynn at 110 and cover by buying another at 108. That means the most I can lose is $2.00 minus the options' profit which he suggests is $0.21 cents. I don't know about you, but to me risking 1.79 dollars to make 21 cents is a lousy bet. Even Vegas has much better odds. For each time he is wrong, he has to win more than 8 times just to break even. What this guy doesn't realize is that it doesn't matter how many times you win if the one time you lose, you lose it all! And how he figures those outrageous percentage numbers is unbelievable. I guess basic math is not required for a doctorate in... well, who knows... marketing? Maybe he just has a BS.

[Kim 7,943]

When you have such terrible risk reward, the trick is to limit the losses when you lose. This specific trade has maximum gain of ~11.7% (0.21/1.79). So you cannot afford to lose more than 25-30% in losing trades. 

As for calculating gains - yes, many services record 100% gain when they sell credit spread and it expires worthless. The correct way to calculate it is "return on margin" - which is 11.7% in this case.

[Guest Guest K]

Thanks for the feedback. I got burnt with other service that I took, and wanted to not repeat the same mistake. Thanks for your reviews helped me not to fall trap for another one. 

[Guest LynneR]

Dr. Singh's service is a total scam - a pure waste of money.  The one thing he does that he says he will do is email a sheet of potential trades to be taken each week.

Whether those trades have any validity or real potential for profit is a whole other question.  He has this whole story about how he wants to teach new options traders

the system he used to become a millionaire himself and then publish his 2nd book about them.  He has not intention of teaching anyone anything.  His credit spread trades

each week bring such a small return that you can barely cover commisions and have, as others have already mentioned, a 10x greater risk of your money than reward.  I am a member of this service and have contacted Dr. Singh's office for assistance or instruction and they don't answer the phone.  Their voice mail answers and says it is full.  He says you can follow the trades in his account and did indeed give login info for monitoring purposes.  His account shows that he rarely even takes the trades himself.  Sometimes they

were placed to be filled but at entirely different prices than he had given on the order sheet he sends out.  I RECOMMEND THAT YOU STAY AS FAR AWAY FROM DR. SINGH'S

SNAKE OIL SERVICE AS YOU POSSIBLY CAN!!   Rather check out really good services such as Option Alpha or Options Money Maker to learn lots about option trading and

get trades given to you to participate in and get updated about regularly to help you while you learn.  Or try Chaikin Analytics (stock oriented with good options program to use).

[Guest guest Rick]

Thanks to all for insights on this guy.  This is the only place I found anything on him, and y'all have confirmed my initial suspicions.  IMHO, this guy is a dirt bag, but that is just my opinion. Thank you.

I've been trading equity options for over 8 years and have had the good fortune to have some world class traders and former floor traders as teachers.  They weren't cheap initially, but they were much cheaper than blowing up accounts repeatedly.  I highly recommend Investitute.com with DRJ Najarian, Pete Najarian, Ron Ianieri, Bill Johnson and company.  You have to learn the basics first.  Kinda boring and not nearly as exciting as watching one bad choice destroy your account, but a lot safer way to risk your hard earned money.

You have to understand the greeks, the relationships between the greeks, the Black-Scholes model, the right market conditions to employ which strategy, etc.  It's not rocket science, but it is more complicated than walking and we ALL failed at that the first few attempts.

Get educated BEFORE you get broke.  It works out much better.

[Kim 7,943]

1 minute ago, Guest guest Rick said:

You have to understand the greeks, the relationships between the greeks, the Black-Scholes model, the right market conditions to employ which strategy, etc.  It's not rocket science, but it is more complicated than walking and we ALL failed at that the first few attempts.

Get educated BEFORE you get broke.  It works out much better.

Great advice.

[Kim 7,943]

You might want to read this review - https://www.tradingschools.org/reviews/dr-singh-options/

[DavidR 1]

This review says it all.

 

A ridiculous charlatan wearing a turban, and claiming to have earned 25,574% investment returns in only 10 months. One of the more wild and whacky trading Guru's that we have reviewed.

 

In our conversation with Dr. Singh, we asked for a detailed breakdown of returns from his supposed stock picks. We were sent a spreadsheet that contains ZERO LOSSES.

 

In fact, the materials that were presented to TradingSchools.Org show the following return on investment from June 17, 2016 through March 17, 2017 to be 25,574%.

 

To give you some perspective, this would be an average of 2,557% per month. A $1k investment, after 10 months is now worth over $30 quadrillion dollars. What we really wanted to know, would anyone be stupid enough to believe this sort of nonsense? Apparently yes.

 

Now I don’t want to be too hard on the people that were foolish enough to get suckered into this. But people, please. If someone guarantee’s 2,500% each and every month, with no losing months, and no losing trades….and even includes a money back guarantee? Well, you know the saying “If it sounds too good to be true, it probably is.”

 

[Guest Dr Singh millionaire?]

Wow, do I have a story to tell.  

Having done options for a while I decided to work harder at it and try to increase my income.  I saw Dr Singh's ads and unbelievable guaranty (read that as not believable nor achievable) and jumped in.

Here's the gist of my 2 weeks of real money trading:

1.  Dr Singh does NOT trade all of his own recommendations.  Out of 14 recommendations this last alert, Dr Singh TRIED to enter 7.

2.  To enter Dr Singh's weekly trades with any regularity is fraught with useless effort; many trades NEVER fill, those that do only do so due to falling rapidly and that assures you will be in the losing column.  This week he recommended 14 trades, I got in 2 and he got in 3 (he allows us to see a portion of his trading screen). 

3.  Dr Singh recommends with emphasis to his subscribers to enter the  trade at mid price point (between bid and ask)  but then, in his own account undercuts it which in the old days was called front running. Now it's called ???

4. Dr Singh's guaranty states "very clearly in priint" says Eliot Blat, that you would have to have 2 monthly losers in one month to trigger his guaranty, not any of his weekly recommendations or, his 3 and 4 legged recommendations.  As it turns, out for the last 2 weekly alerts you Couldn't get in play the necessary 2 monthlies to potentially trigger his unbelievable guaranty, or if you were stupid enough to try, one of his 2 monthly trades this past week has a  $32,000 maintenance requirement, in order to earn $130 less commissions. That's right, he is recommending that you tie up $32,000.00 to maybe earn $130.00 minus commissions.  (I've asked Elito to clarify why Dr Singh thinks that is a good trade and worthy of an expert's recommendation, but one that he did not try to enter.)

I'm not done with my review of Dr Singh so stay tuned. I have asked Eliot to provide me with answers to my simple questions that APPEAR to be coincidentally in his marketing favor but not so favorable to his subscriber investors.

He has refused to refund me my $1,000 and I guess I should have read the guaranty more closely but if this isn't breaking the law, it is beyond the shadow of a doubt misleading to the 3rd degree.

Mike

[Guest guest]

On 10/30/2016 at 8:06 PM, Guest Sat Nam said:

I researched about Dr. Singh. His life is all about Giving. Read his contributions to the society by clicking on http://drsinghbooks.com/mystory.html.  He authored 12 books, some on the topics never touched by anyone in history. He is a genius who wants to help everyone with his knowledge and experience. He guarantees to refund the fee of his clients if they lose money based on his monthly recommendations. He claims that he does not consciously feels comfortable to charge any fee from anyone who lost money based on his bad recommendations is a depiction of his  great character. The fact that no one ever complained about him shows his honesty. It is wise to learn from someone who made tens of millions for himself and helped others make millions too.  

This guest Sat Nam is Dr. Singh himself - that's the name (SatNam) of his supposed trading account that he gives people access to where you can see the "trades" that he took - no way to tell if it's live or memorex....   well, the trades in his supposed live account have very little resemblance to the trades he recommends through his "service"....

[diamond 2]

I tried it out, although I never saw the 20,000%+ figure.  I did a monthly plan through paypal so it was easy to quit.  I agree with the comments above, Sure you can win on a SOXL OTM put sell, but it takes ~$30k margin for a $200.00 win.  Ditto for SVXY OTM puts.  It can work as you are selling 50+ points away, but the margin is intense.   I pretty much  will only try services with monthly payments, only been hurt by the pay in full deals - but that is just me.

[Guest Return percentages]

The part that people seem to be misunderstanding about the huge return percentages is those are ANNUALIZED returns.  If you made 3% in 3 days, that would be the same as 365% on a yearly basis.