Option Trade Alert Services Like Trade Genie — Good or Bad Idea?
Learning to trade by following the trades of a more experienced trader is a great way to learn how to successfully trade in the market.
Of course, following even a pro’s trades does not mean you will never lose a trade.
And whenever you read reviews of different trading programs, the common complaint among most posting negative reviews is that they lost money.
(To see our trade genie reviews please click here for the full article.)
Well, unfortunately nothing is 100% guaranteed.
Even the trade alerts from The Empirical Collective with their high win rate has the occasional loss (although they are the only ones offering a performance guarantee). See here.
So sometimes you will see negative reviews posted about companies like trade genie like this one:
‘Noshee Khan’ runs Trade Genie, a stock investment advisory service.
Mr. Khan uses the domain tradegenie.com to promote his stock investing advice.
He confidently asserts that his “World-Class trading techniques” can assist investors.
Mr. Khan’s portfolio also includes two more websites.
These are some of them:
Financial Markets Wizard (financialmarketswizard.com) is a website that provides information about financial markets.
Noshee Khan’s website is nosheekhan.com.
The proprietor of Trade Genie boasts an incredible victory ratio of 89.76 percent out of 537 deals in his marketing statements.
He also boasts a 70.20 percent average gain in just 16 days of trading.
This is completely absurd and, to some extent, unverifiable. I’ll explain why it’s total nonsense.
By the way, the focus of this evaluation is on whether Noshee Khan is telling the truth about his trading accomplishments or merely spinning a yarn.
Also, have a look at these top rated trading and investment services.
What services does Trade Genie provide?It’s a stock and options investing advice website that offers a variety of monthly membership choices.
Trade Genie also offers $997 for six days of personal instruction.
It is aimed for both novice and expert traders who are looking to profit from Noshee Khan’s overstated success claims on the stock market.
Students can pay $37 per month for Mr. Noshee Khan’s private market analysis or $187 per month for up to 10 weekly notifications.
For seasoned traders, Trade Genie suggests a $250,000 investment, while beginning investors should deposit $10,000.
Noshee Khan’s clientele appear to be a group of people who have some retirement funds to spend.
Or, to put it another way, Mr. Khan is after the financially desperate who feel they can become wealthy rapidly by just copying and pasting his investing advice.
Who is Trade Genie Inc’s Noshee Khan?Mohammed Nasir Khan is Mr. Noshee Khan’s true name.
This name is intended to be kept a secret, but Mr. Khan does not realise that once anything is out there, it is difficult to remove.
He claims to be a Master trader, a software engineer, and a programmer on his “about” page.
He also stated on one of his websites that he quit a $120 per hour job to focus on his full-time trading company and helping others thrive in the stock market.
He appears to have started an interest in trading around 2003, but Tradegenie.com was created in 2010.
I have no doubt that a basic request like wishing to view Mr. Khan’s trading results may be turned down, given his Steller CV and the experience he claims to have.
Nonetheless, what I had believed all along was verified.
Trade Genie’s owner is unable to comply with a request for his performance history.
Mr. Khan cannot validate his 96 percent winning percentage, nor can he confirm whether the transactions were made on a simulator or a live account, despite stating his market experience.
Now, to me it sounds like someone just had a bad experience following one of their trade alerts that didn’t turn out.
But what traders have to realize is that losing trades are just part of the process and they must employ their own trade management system and never trade with funds they can’t afford to lose.
Don’t think of trade alerts as being a 100% guarantee, think of it as increasing the odds of winning by leveraging someone else’s experience and abilities.
Even if you’re following someone else’s trade alerts, you still have a part to play.
