The Night Owl Signals membership gives you the chance to peer over the shoulder of an experienced binary options trader. But will you really be sitting in and watching something actionable from a legit trader or is this a scam?
Product: Membership to watch a live trader (Chris) place trades and alert you about what to trade.
Cost: $87 per 2 weeks or $10 per session (2 sessions available per day)
Review Summary: I have not purchased this but I have spent a fair amount of time trawling the Internet and have found some very insightful reviews that I think will benefit you. Basically it seems legit but probably not as good as you are hoping.
What I Found Online
The main website does not appear to me at all to be overly hyped up or promising push button wealth, believe me when I say I have seen a LOT worse.
It does comment about being the number one trading service in the world, which is not true in reality, but that’s just marketing right?
Once you sign up you are given access to a Live trading room where Chris (product owner and trader) will conduct two live trading sessions per day. One session is at 9:30-11:00 am and another is between 8:30-10:00 pm EST.
You are making you $87 bi weekly purchase through ClickBank which is a marketplace for web based products and services that offers you a 60 day money back guarantee. Nice peace of mind I guess since this is a pretty hefty investment, especially if you are tight on funds.
The idea behind the product is that you are able to copy exactly what a pro trader is doing and come out on top with winning trades. But is this really the way it goes down?
What People Are Saying
As I said earlier I have done some extensive reading on this program as it does sound interesting and there are some advantages and disadvantages to speak of.
Chris Is Legit And Helps People
Firstly it appears as though once you are in the trading room, presumably through a live webinar software provided to you, he gives you 90 minutes of trading knowledge and places several trades.
He answers questions and responds to emails and always caters for the inexperienced traders in the room.
This is where one of the key issues arise though and which leads me to the second point.
He Is Trying To Make It Perfect And It Doesn’t Work
In an effort to minimise people’s risk and cater to the newbies, Chris is said to be missing out on a LOT of profitable trades for people. The ones that are having a hard time keeping up he is slowing down for and the ones that are not technically challenged or are not afraid to invest and lose a few trades along the way are suffering for this.
There was one example given when he tried to pick perfect trades but ended up picking 3-4 awful ones, so being dedicated he stayed back a another whole 90 minutes and executed 27 trades in the process.
The problem was he never showed people what he was doing or trading in this time because he did not want them to suffer any more loss.
He only revealed that he had won 24 out of 27 trades in that extra session at the very end. This shows that he cares about the people but at the same time his desire to minimise everyones risk and pick perfect trades is limiting his ability to just teach people what he is doing.
In other words he is mothering his members too much and this is limiting profit potential.
Not Enough Trades
There are only 2-3 trades on average being placed in each 90 minute session which means unless you are trading with some pretty decent cash flow you probably won’t make a whole lot with this.
There Are Expensive Upgrades To Resolve The Issue
Apparently there has been an update to fix the issues I just discussed. With a system named Signal Push you are able to use a particular broker that will communicate with Chris’s trading platform and practically duplicate every trade he is making in your own account.
Although this seems awesome the downside is it will cost you around $400 plus per month to use. This means you’d need some decent trading capital to be seeing a return on your investment. If this guy is as good a trader as some of the people are saying, this may be pretty decent, but I cannot say for sure.
What I Liked
- I like that Chris is interested in looking after his people, is reported to provide very goo support and knows what he is talking about
- I like the idea of being able to mimic a real trader
- There is a Facebook group
- It is not very hyped up from what I have seen
- You can get a refund through ClickBank within 60 days
What I Didn’t Like
- It is very expensive to get started with
- The win rate does not seem to be very high
- He is dumbing everything down at the detriment of other traders
- Way too many fake reviews on Google by people flogging this system, this lead me to question the legitimacy of the testimonials on the sales page
Not a bad gig to try out considering there is a money back guarantee and you can try his recommendations out with a free demo trading account. To me the risk seems fairly minimal as long as you make sure you know what you are doing before spending a lot on trades and extra software.
It may be a good way for someone that has some idea of trading to lean over the shoulder of an expert, but I wouldn’t go into this thinking it will be push button riches. That simply won’t happen.