Dave's Goofiz ATM

Hi - I am thinking of subscribing to Dave's Goofiz ATM on the Collecitve2 web site: www.collective2.com

He claims (or at least the collective 2 web site claims) that this system has returned 787% annualized over 324 days which I think is an excellent return and that is why I am interested in this system.

I am new to trading and don't know if this is a genuine web site and the results can be trusted or if this is a con. The results look too good to be true.

TIA

There's a (somewhat confusing) message board on the C2 web site. Here is one of the comments about the system:

I read your system and liked the numbers because I thought they were real. I signed up for your system's free week last week, 8/8-8/12. In that time you issued 7 trades for me to buy or sell to open. 6 out of 7 were traded by you on or after 1555, which gives even the folks with ITM little time to act. That is 86% of your trades Dave. 3 of those were traded by you right at the closing bell, which is 43% Dave. At least 43% of your trades could not have been humanly possible to make? And trades you make with one minute or two to go are pretty much the same. We cannot make those trades. You see? All I originally asked you was to help me figure out how I can use your system. Those impossible trades should not be part of your advertised numbers wether they help or hurt you. No one could have made them. Your numbers are wrong. Please explain how we are supposed to make a trade when you send us the signals after 4pm? Thank-You

A good rule of thumb you will want to apply to anything you run across in the retail online trading world is:

If it sounds too good to be true, it probably is.

One thing you can do is research exactly how that 700% return was arrived at. The trading service should be able to furnish you with the trade log history that documents the specific trades that produced the 700% claim. Reputable/above board trading advisory services will provide a trade history to prospective clients. You might write the service an email and request the trade history. From that you can see how the return was obtained, did they pump up the results using out of the money options for example. If they will not provide that documentation, then it is more likely the claim is made up out of thin air. Often you will find these types of hyped up returns are produced by curve fitted computer backtesting, rather than actual real-time trades.

Second, see if the service offers a free trial, usually a free two week trial membership. Most reputable services offer this to prospective new customers.

As a "newbie", you will want to find a service that provides you with ongoing training and education. Again the better advisory services provide this training as part of the base subscription fee.