Bullseye Trades Review
Are you an options trader looking for a trading signal alerts service? If so, you may be considering using Bullseye Trades. Bullseye Trades is an online options trading signal alter service run by Jeff Bishop. Can this service help you find the options trades you want? Read our thorough review of Bullseye Trades and learn more before you buy.
About Bullseye Trades
Bullseye Trades is an online options trading signal alert service that also provides options trading educational programs. The site is run by millionaire trading guru Jeff Bishop, who also owns iconic message board Raging Bull. Bishop claims to be one of the top traders in the world through his videos and ads sprinkled throughout YouTube and various sites. You’ve probably seen one of the ads for Jason Bond Picks, Weekly Money Multiplier, Daily Profit Machine, or some other service offered by Raging Bull. Raging Bull is a powerhouse in the world of online stock trading and options trading.
Bullseye Trades is a Raging Bull service that is focused on trading options. The service provides members with a fresh options trade alert every Monday morning. While other services from Jeff Bishop and Raging Bull are more active (such as Jason Bond Picks), Bullseye Trades is focused on simplicity. The goal is to give subscribers one trade each week that they can easily follow to make money. The trades are usually directional, single-leg options trades that are relatively easy to follow.
Subscribers are given Jeff Bishop’s insights and alerts through a weekly report with the single most viable trade he is looking to make. Members can piggyback off his trades but are expected to be able to manage the trades using his charts but buy triggers and stops as a guideline.
Can you actually make money with this service? Keep reading our Bullseye Trades review to find out.
Styles Of Trading
There are a ton of different stock market services out there. There are services for stock trading, options trading, unique trading strategies, investing, and so on. If you want to find the right service for you, you need to make sure it aligns with your trading style. If you’re an investor and you sign up for a day trading service, you will inevitably be disappointed as the service is not catered to your financial strategy.
So what style of trader is Bullseye Trades best for?
Jeff Bishop, the man behind the service, is a swing trader who utilizes technical analysis to identify stocks that are set up for significant breakouts and breakdowns (i.e. big moves in either direction). He spots the most optimal options trade based on the underlying technical set-up to provide for his members. Positions are usually held for a few days at a time.
For those who are unfamiliar with technical analysis, it is the process of analyzing a stock chart to predict a stock’s future price action. While members could technically just follow the trade idea for the week, it would definitely be helpful to have a basic understanding of how technical analysis works.
Bishop strives for trades that have the biggest price moves in the smallest period of time since single-leg directional trades are always fighting time decay. Capturing the high impact moves consistently is the key to Bishop’s success.
That said, this type of trading strategy is a high-risk/high-reward approach to trading. Options can easily move upwards of 100% in one day, but they can also go to zero. You should be comfortable with this type of risk before signing up for any options trading service.
Members can choose how many options contracts they’d like to buy, tailoring their risk to their portfolio size and tolerance.
Jeff Bishop keeps his strategy simple by only utilizing three indicators that must converge to form what he considers to be a solid trade signal. The three indicators are moving averages composed of the 13, 30, and 200-periods. Moving averages represent the average of a stock’s closing price over a specified period of time. They can be used to smooth price action and identify trends across different timeframes.
The symbiotic relationship between the three simple moving averages makes for powerful breakouts and breakdowns on crossovers, which precede trade signals.
Utilizing 60-minute and daily charts, Jeff Bishop likes to trade front week/monthly directional options with a relatively short-term holding period ranging from overnight to a few days. Occasionally, he may take a trade for up to two-weeks holding time but rarely holds into the expiration.
This makes the service ideal for traders who don’t have time to watch the stock market all day, every day. Whereas day trading requires constant attention, Bishop’s swing trading style can be much easier to manage.
Bullseye Trades Trading Education
Bullseye Trades is primarily an options alerts service, but it does come with some basic education. While new traders may be tempted to simply copy alerts, it is advised that any options trader takes the time to build a strong foundation.
Bullseye offers some free educational content reviewing the basics of options trading. Membership provides access to a library of videos and tutorials to learn the basics of options trading.
Members have access to two standalone educational resources – Trader’s Blackbook and Profit Kickstarter Pack. Traders Blackbook is an options trading guide created by Jeff Bishop. Profit Kickstarter Pack is an online trading series with 10 kickstarter videos for new users.
As with any service, it’s important to be able to make your own decisions on managing the trade based on a trading methodology. I always find it troublesome to rely solely on someone else’s trading skills to get in and out of a trade. While it may seem simple to just copy a trade, it’s rarely as easy as it sounds.
It’s possible the expert gets out in a timely manner when profits are available, but the followers end up with losses since they couldn’t react fast enough. Learn to fish, rather than expect to be provided fish. If you are a paid subscriber, you should take the time to review the educational material. After all, you’re paying for it.
Additional in-depth training is available throughout the RagingBull network of sites and services.
Bullseye Trades Community
Membership gives you access to a community of traders and investors who share their ideas and feedback. Bullseye Trades is part of the RagingBull network of sites that provide various trading and educational services for skill set developments.
Bishop is an owner of the RagingBull network, which also includes well-known gurus like Jason Bond and Ben Sturgill. The site provides regular newsfeeds and articles pertaining to trading and investing themes.
What Type Of Trader Is Bullseye Trades Best For?
Bullseye Trades seems like it was purposefully designed with simplicity in in mind.
The straightforward analysis and relatively easy to understand trade signals make the Bullseye Trades service suited for traders of all levels. It does require a basic understanding of options trading and execution, but the training material helps get beginners on track. If you’re looking for a little more options trading education, you may want to consider a supplementary service like Sky View Trading.
Seasoned traders will appreciate having a single trade idea sent weekly so they can apply their own methodology and adopt the trade if it meets the criteria. The legwork of filtering and researching for that single idea is taken out of the equation, leaving just the meat to consume.
The service also pairs well with other services like Motley Fool Options for traders who want access to more than one options alert per week.
Bullseye Trades Pricing
Bullseye Trades has two main subscription packages available. The first and simplest is a one-year subscription that is available for $399. This plan recurs at $399/year until canceled.
The second package is priced at $599, which includes a one-year subscription as well as a few bonuses. This package renews at $99/year, meaning it’s the far better choice if you plan on sticking around for more than a year.
The company also offers a weekly trial for $49. This provides you access to the service for a week, meaning you will get one trade alert. Interestingly, the company backs the weekly trial with a “double your money back guarantee.” This guarantee states that if you don’t make at least $100 in trading profits from the trade alert, the company will extend your trial until you do. These types of trials and guarantees are rare in the world of online trading services so it’s definitely an enticing offer.
Is Bullseye Trades Worth the Money?
Bullseye Trades is in the mid-range of pricing you’d expect to see from a stock or options alert service. We’ve reviewed services that cost ten times as much, as well as services that are slightly cheaper.
At $399/year, the service comes down to about $33 per month, which is definitely on the low end for monthly pricing. It is definitely an affordable service and it’s reasonable to believe you could make more than $33/month from the alerts.
While not every trade is a winner, the winners far outweigh the losers and Jeff Bishop has a solid track record overall. It’s also important to note that members who decide to piggyback the trades should have a solid trading methodology in place so they can take profits or cut losses according to their risk tolerance.
As we state in every review, don’t expect to just follow alerts and get rich. If you do, you will probably trade recklessly. Stock options are inherently risky and you should take a prudent approach to the markets.
While many subscribers will likely just rely on Bishop’s entry and exits, there are many times a winner can turn into a loser but still be a winning trade for those that managed to exit the trade with profits. This is why the experienced traders will have an edge by adopting the trade idea but manage the actual trade based on their own methods.
The service also offers some great introductory deals such as the free webinar and the $49 weekly trial. We recommend getting started with the weekly trial so you can get a better understanding of the trade ideas and whether or not they are a good fit for you.
- Relatively easy on-boarding, research and legwork performed by Jeff Bishop
- Detailed, thorough and comprehensive weekly report
- Inexpensive monthly rate also provides access to a growing community of traders of all skill levels
- Simple strategy with relatively little moving parts to digest
- Simple format for traders
- Exceptional performance record of consistency and large gains
- Sign-up requires e-mail and phone number placing you on a marketing list
- Single-leg directional options require timely exits and prompt reaction times against time decay