I joined MMP in 11/2019 through Keith Fitzgerald's (KF) Straight Line Profit program. Their financial program presented by KF is I believe called arbitrage.
When a business first becomes a member of the stock exchange there is an arbitrary value of the stock assessed to it. According to the KF presentation, the stock value is usually erratic at best as the graph is in a major zig-zag mode. KF's presentation recommends that a client invest as the stock/option value is low and then sell as it climbs. His advertisements include claims of over 1000% increases in value.
I made 2 transactions following KF's recommendations.
I purchased 11 shares of BOOT for a total of $473.77 and 10 shares of INST for 530.30. I was advised to place protective stops on both at 53.03 (BOOT) and 48.03 (INST) which I did. I lost $51.51 on BOOT and an even $50.00 on INST when my protective stop was activated on both.
ON 12/19/2019, KF placed a recommendation for a stock option on GDS for $4.60 per option share for a total of $460.00 + a transaction fee. His recommendation was to not sell until it hit $8.80 of value.
In the weekly alerts, he stated the same info to hold until it hit $8.80 share.
Last week, the market took a sudden drop and it went down below $3 share. He finally initiated a move to sell immediately. I've held on to at least recoup some of my money.
KF's guarantee was approximately $3k monthly. Haven't even come close but right after I subscribed I received calls from MMP to upgrade my subscription for another $2400.
I told them I haven't even made a cent yet and they want me to upgrade? Not happening.
They knew I was a new trader when they signed me up for the program. They recommended Trade Station as an online broker. However, after I was with them for 2 weeks I found out I wasn't approved for options trading (Level 2 with them).
I ended up going over to TD Ameritrade which was normal for them to approve new clients new to trading to allow Level 2 on a cash basis.
Right after I joined Straight Line MMP gave me a presentation for the 1450 subscription with Andrew Keene (AK). AK has a very good career in the financial stock market and has a great knowledge of options. After I enrolled for $1955 MMP and AK told us about joining the Mentorship and being a Club member for another $2400. I joined provided I could pay in 3 $800 installments.
The first installment was paid and I was put on the Mentoring program.
After the 1st three weeks, AK was telling us his success rate was in the 70-80% range. However, my trades on his recommendations weren't nearly that good (below 50%). One of the major problems we were having was that we were lacking the speed to get the buy-in on time to get the contract filled. Even when I was getting the buys the 1st few trades - though making money - were making cents per share.
The last time I heard him compare his success AK told us he was running in the 68-70% range.
However, as of 01/27/2020, out of 2 even trades (after fee, it's actually neg), 15 gains, and 18 losses with 2 options that are worth so little I can't even sell them. My total losses have been $579 compared to gains of $98. That doesn't include 2 outstanding options I've been trying to monitor to reduce my losses.
Part of the 1450 includes being on an online forum. At first, there was a counter at the top which kept track of how many subscribers were online.
This included the mentoring sessions also.
After a couple of weeks, the counter was turned off. AK told us he was told by MMP to turn it off. I remember seeing the regular subscriber count as being 700+ during the sessions. The mentoring had over 100 subscribers online before it was turned off.
I'm very suspicious why it was turned off.
My thinking is that the site was growing and the mentoring sessions were getting larger. As a former teacher, people think mentoring is a small group of students with a mentor learning how to perform certain tasks. It doesn't mean 200+ students paying $2400 each (for a lifetime membership).
Nothing like that was mentioned in the mentoring recruitment.
I've enclosed copies of my trades as proof. I request a refund of $2665 from Straight Line, $2772 from 1450 Club ($1972 + $800 for mentoring) and released from the remaining $1600 for the mentoring.
Bottom Line: No, I would not recommend this to a friend