Diversified Trading Strategies - Chuck Hughes Advisory all hype, no action Carlsbad, California
Chris Borgman of Diversified Trading sold me this Chuck Hughes GPS Advisory program touting it as terribly profitable, claiming it would produce 2-1/2 times my investment over the course of a year. There is a charge of $5,000 which works out to be $416 per month. After being in the program one month, I have a profit of $108.18.
Do the math: 416 (monthly fee @ $5000/yr) minus 108.18 (profit) = $307.82 (what it is cost me for the first month). If they do this each and every month: multiply 307.82 cost x 12 months = 3893.84. It will cost me $3893.84 for the year and I will have a $108.18 monthly profit multiplying out to $1298.16 for the year. That is providing I continue to go along with this nonsense and don't incur larger losses. Yes, I know in trading you can have up and down trades, but if they cannot handle one month of several trades and land a profit commensurate with the cost of the program with all this "successful" professional trading experience, heaven knows what a disaster this would be letting this continue.
I asked for a refund and they said to send them my brokerage statement so they can determine "what happened." Well, if they are following their trades, I would guess they would know what happened, wouldn't they? I will keep you posted as to what happens on this, but I will contest this on my Visa for the time being. When I called Chris Borgman on Friday, 10/23/09, he said he doesn't know why I could be unhappy with this program that returns 4 times your investment. Hmmm, first it was 2-1/2 times your investment before I signed up and now it is 4 times the investment when I am unhappy? Seems like it is getting more profitable once they have your $5,000.
If they are so good, why are they not honorable refunding the money? I could almost understand one month's "service" fee for bad advice, but to hold you to another 11 months that you do not want? They have given me nothing to warrant a $416 fee, much less a whole year's fee. They advertise Chuck Hughes as a professional, someone with a lifetime of highly profitable trading experience. Something is looking mighty stinky here... Is there anyone out there that subscribes to this service that is not affiliated with this program in any way that can assure me this is a highly profitable service?
4 Updates & Rebuttals
Larry Horning
Santee,California,
USA
Comment for Chris Borgman of DTS
#5Consumer Comment
Fri, December 31, 2010
"I have more than 24 years of trading experience and I have also posted copies of my tax returns and brokerage statements showing my long term track record on my website www.ChuckHughes.com. Log on to the home page of www.ChuckHughes.com and copies of these tax returns and brokerage statements are available in a PDF file. I think it is important for you to verify the actual track record for a program that you are considering purchasing. Remember that anyone with a computer and historical price data can produce fantastic hypothetical profit results. The real question is: How does the program perform in real time without the benefit of hindsight? The home page on my website also contains a link to my blog. My blog contains updated profit performance for my trading strategies and discusses the best trading strategies to use for current market conditions. Feel free to contact me any time if you have questions about my trading strategies. I look forward to hearing from you! Best Regards, Chuck Hughes".
Chris....
In regards to the aforementioned quote from Chuck Hughes which was utilized in your response, where he welcomes questions about his trading strategies. Being a member of one of his many programs for a few months I can accurately state that I have submitted many questions concerning a particular strategie and so far he has refused to respond with answers to the majority of my submissions, I guess he believes silence is golden...I am now in the process of publishing these unanswered questions in RipoffReport, perhaps he will respond here, I seriously doubt that, I believe he will not answer any difficult submissions.
Please contact me @
Larry Horning
l_horning@hotmail.comor 619-277-8321
BrightLight
Wilmette,Illinois,
USA
COMPLETELY INCOMPETENT, A TOTAL LOSER
#5Author of original report
Wed, February 10, 2010
It's been 4-1/2 months now with the GPS Advisory "service." Is it a service to lose your money and charge you $5,000 to do it as well? Hey, anybody out there that wants to send ME $5,000, I can lose you money just as well as Chuck Hughes.
Since starting this "service" he has recommended 41 round-trip trades in my account losing me $2,000. Yesterday, I opened my account at the brokerage to check on it, and page long listing of the former trades he had put on were sold out and replaced by one spread trade. When I called Diversified, who sold me this program, they said, "You have only been in the program 4-1/2 months. You have to wait until you are into the program for 6 months to see a SPIKE in your gains." Huh? 41 trades at a loss and now he has one spread trade on, that is one, 1, like the next number up after zero, and I'm supposed to see a SPIKE in my gains? Well, first this spike will have to take care of the loss, and then they can start thinking about a gain.
Run like a rabbit away from Chuck Hughes, GPS Advisory. He'll tell you he has so much experience, he is soooo profitable, he will amaze you with your gains, and he will dazzle you with delight. That is a joke with your money. He makes his profit selling you the program.
Rocky
Boulder,Colorado,
United States of America
My Experience
#5Consumer Comment
Wed, November 11, 2009
I've been a customer of two Chuck Hughes programs, the MVP and the GPS program which I purchased through Diversified Trading. I've been in the MVP program since August of 2008 and the GPS program since October 2008.
My experience with both Diversified trading and the Chuck Hughes program has been nothing but one of complete satisfaction. Although I did not read every report listed on your web site I did read most of them. What I see as a problem with some complaints is that they haven't given the Chuck Hughes system enough time to work. Many of his trades take advantage of the time decay of options, this may take several months. In addition, with new customers, there is a time period in which trade recommendations are made, meaning there may only be one or two recommendations per week. So it takes time to get several trades working, then more time to take advantage of the strategies that are implemented. So it is reasonable to expect to be in a program like this for several months before profits start to appear.
I trade for a living, I've been in many different trading systems and find this one to be the best so far. The system has been through both a major downturn in the market as well as a major uptrend. The system made money in both, this is a phenomenal accomplishment that other newsletters I receive did not come close to. It is possible I could have been wiped out if it were not for the trades that were recommended by the Chuck Hughes system.
As for Diversified Trading, I have had no problems with them. When I first joined the program I wrote to them with some questions, all questions were answered in a timely manner. They also provide a phone number to call in case it is needed.
In closing, I would recommend that people give the system enough time to work, they have the capitol to trade with of at least $35,000 (the more the better) and that they have at least traded some options. In addition if you do not follow the instructions as given by the service explicitly, you may not get the results you expect. If you do follow the recommendations you will be well rewarded.
Chris B.
carlsbad,California,
USA
The Reality of the Situation
#5REBUTTAL Individual responds
Wed, October 28, 2009
Hello, my name is Chris Borgman and I am a project manager at DTS. I want to address the things Mrs. Olson (BrightLight from Wilmette IL), has posted. Mrs. Olson called my company on Aug., 25th 2009 and we had a few very good conversations about some of the traders that we represent. After showing Mrs. Olson the returns and performance information, she started her own due diligence process. Once she felt comfortable she chose to subscribe to Mr.Hughes' options trading program on Sept., 11th 2009. Like every potential investor I speak with about this particular trading program, I informed Mrs. Olson that Mr.Hughes holds his option trades on average for 3 or more months (short term trades). I also informed her not to expect to see any significant returns at all until the options trades mature. In my own words "You have to be able to withstand the time it takes for these options to come into fruition". I showed Mrs. Olson the proprietary members website where Mr. Hughes posts every single trade he has taken and closed, including both winning and losing trades in an effort to provide full transparency. This record of trades shows when he got in, the symbol, at what price, when he got out, at what price, and the profit or loss per position. I certainly provided Mrs. Olson with every tool available to help an investor make a rational and informed decision.
As any serious trader/investor would know, you cannot properly judge a trader or methodology, (especially a program that holds positions for an average of 3 months) within the first 30 days. You certainly cannot take a few closed positions within that time, while ignoring your open positions, and then use that figure to determine your annual return. Armed with the knowledge of the time it takes for this program to show the advertised returns, and the fact that Mrs. Olson even claims she has seen a profit in her first 30 days, frankly I'm at a loss as to why this is on Ripoff Report at all. Upon speaking with my CEO, what Mrs. Olson failed to divulge (among other things) is what her profit or loss (based on other clients that enrolled about the same time their open positions are in profit, so I assume Mrs. Olson's account is as well) was in open positions at the time.
The following is Mr.Hughes' own invitation to verify his returns for yourself.
"I have more than 24 years of trading experience and I have also posted copies of my tax returns and brokerage statements showing my long term track record on my website www.ChuckHughes.com. Log on to the home page of www.ChuckHughes.com and copies of these tax returns and brokerage statements are available in a PDF file. I think it is important for you to verify the actual track record for a program that you are considering purchasing. Remember that anyone with a computer and historical price data can produce fantastic hypothetical profit results. The real question is: How does the program perform in real time without the benefit of hindsight? The home page on my website also contains a link to my blog. My blog contains updated profit performance for my trading strategies and discusses the best trading strategies to use for current market conditions. Feel free to contact me any time if you have questions about my trading strategies. I look forward to hearing from you! Best Regards, Chuck Hughes".
I am more than happy to speak with anyone regarding this or any of our other trader's programs and how they work. I have many very satisfied clients that are willing to talk with potential clients. I will also provide real, live, verifiable brokerage account statements from any of our participating clients. I am sure that once Mrs. Olson has been trading the system for a reasonable amount of time and is enjoying the same profit as the rest of our clients, she will be willing to share her account statement with everyone as well.
Sincerly,
Chris Borgman
877-872-3351 ext 215
760-444-1445 my direct line