The Commodity Futures Knowledge Network ®
SPECIAL REPORT - WADE COOK
"Results Are Not Near What He Advertises!"
Wade Cook is one of the first business opportunities that I lost a lot of money on. The people that are fans of "Wade Cook" would say that I didnt follow Wade Cook well enough but I dont think that is the case. Here is my quick story. I have tried to remain as partial as possible. I will let you be the judge about Wade Cook.
I first learned about Wade Cook when I was looking through a Zygon catalog about six or seven years ago. At that time, Wade Cook was just selling a system for getting into real estate and flipping properties, plus he was also selling information on how to set up living trusts and corporations. He wasnt actually setting them up, he was just selling the information.
I dont know how he got info stock marketing investing but supposedly he was speaking at one of his real estate conferences and told people he was investing in the stock market and would anybody want to hear about it. The entire room (according to Wade Cook), erupted and the rest of history.
You can take the following information for whats its worth. I am not someone that just read 10 pages of one his of his books and decided that he was wrong about investing. I have read three different Wade Cook books, been a member of W.I.N. for sixth months, I also went to the wall street workshop for only $500 (dont pay $2,500, just wait for a special).
I will say this about his stuff: he knows what he is talking about, some of the time. He will tell you that he has a 95% success rate on certain types of stock trades, but my research has shown that number is closer to 50% to 60%.
Four years ago I bought a tape set of his that I was extremely happy with. It detailed everything that you need to know about trading, puts and calls. I learned more from it than any other book, seminar or Website I have ever gotten involved with.
The real problem comes to Wade Cooks methods and his trades. His results are not near what he advertises. I wish they were but they are not. I followed numerous trades on W.I.N. for a period of sixth months and many lost money. He did make money on quite a few but his average (like I mentioned) was probably 50% winners (maybe a bit more) but I can probably do 50% just by guessing. Not the results that he advertises.
Apparently my feelings are shared by people on the net as well. You will have trouble finding comments from people that are making any money with his systems. I dont know if you are familiar with the Motley Fools. They are two brothers that have one of the most popular areas of American Online. They analyzed Wade Cooks systems and said this "If Wade was doubling his money every 2-1/2 months, he would own Microsoft, you and I. I have read comments from his ex-seminar instructors that say they were pressured to make trades during seminars, even if the normal indicators werent there. Why is this? Because he wants his systems to seem real.
My best advice for Wade cook is this. Buy one of his books and read his descriptions of calls, puts and how options work. You will be happy that you did and dont buy anything else from him. I cant guarantee that you are ever going to see a real return on your investment.
Use Wade Cook for what he is good for. A teacher about the markets but come up with your own trading system and style. I lost $5,000 trading what Wade Cook says is pretty safe and I got killed. If you cant afford to lose money, like me three years ago, look for something safer.
Written by Matt Gagnon, Pres. - Mazu Publishing