Weekly Money Multiplier Review
Interested in multiplying your money? You may have heard of the service Weekly Money Multiplier, then. Weekly Money Multiplier is an options trading education site. With options trades alerts, learning strategies, and more Weekly Money Multiplier has many buzzing. Is Weekly Money Multiplier what you’re looking for? Read our review before you buy.
Who Runs Weekly Money Multiplier?
The Weekly Money Multiplier (WMM) is an options trading education site owned and operated by Jeff Bishop. The site primarily focuses on putting on options trades using alerts as well as learning the strategies to manage the trades. Bishop is a self-made millionaire trader (and a member of MENSA) with over 20-years of trading experience developing his techniques that score him at least a single 100-percent options trade every week. He claims to be the “#1 Big Money” options trainer in the world. He’s also a co-founder of RagingBull.com, a network of trading education and alert sites, including JasonBondPicks.com in addition to his flagship WMM. RagingBull takes some of its most successful students that have grown their accounts into the millions and recruits them as moderators for their own trading services within the network.
One of these success stories is Nathan Bear, a co-moderator of WMM who joined in 2018. He successfully grew $37,525 into $1.85 million in three years under the tutelage of Bishop and Bond. The WMM is mainly operated by Bishop and Bear, whom both provide access to their real-time screen share enabling full transparency of their positions and actions to further enhance the credibility of the techniques
Styles of Trading
Bishop is an old school technical analyst who trades mainly on chart patterns that repeat in cycles. He likes to jump in on momentum movers with options trades utilizing the underlying high probability patterns. His style is mainly swing trading making directional bets on the underlying stocks taking options positions over to 100-200 contracts.
Nathan likes to trade heavy position sizes often taking up to 50-contracts per position to scalp trend-pattern-squeeze set-ups for high velocity trades that rack rapid up premium spikes. He is mostly a scalper playing directional bets as well on underlying stocks but on a shorter time frame leash.
Bishop often utilizes various moving average set-ups like his 13 and 30-period simple moving average “13/30 Pattern”, composed of hourly crossovers triggers combined with a momentum indicator like an RSI or MACD. This is a trend pattern that forms a breakout followed by an uptrend on rising stocks and breakdown followed by downtrend on falling stocks. Bishop uses trend lines and additional moving averages like a 200-period moving average to spot the resistance or support levels which also may turn into targets as well.
Bishop prefers to use 60-minute time frame charts to swing positions from days to weeks until they either hit targets, stop him out or expire. He puts on many trades so it’s important to make sure you have the bankroll if mirroring the trades, although they explicitly warn against mirroring.
The Mastermind video lessons including “The Stock Options Explained Course” is a self-paced video course with over 20-lessons that start from the beginning with options basics to the advance trading strategies. Access is only available through the annual recurring membership plan with WMM.
The WMM membership subscription includes full access to the Mastermind Video Lessons, live training sessions, live trading updates, “Learn How to Trade Options with a Master” and the SMS/text/e-mail alerts service for a $1,497-annual recurring fee. The live portfolio on-screen access to Bishop’s portfolio is also included.
Video stream is provided for members to watch Bishop’s live portfolio on-screen in real-time and access to the chatroom is available through other rooms within the network. The RagingBull network provides chatrooms for certain services including RagingBull Elite, Millionaire Roadmap, PetraPicks Premium, Traders Council and Biotech Nucleus.
What Type of Trader is Weekly Money Multiplier Best For?
Unlike other options sites that focus on collecting income by selling premium, this site is primarily focused on directional bets, which carry more risk and substantially more reward. Therefore, risk tolerant traders with a bit of experience with stock technical analysis and the mechanics of options trading are best suited for the alerts. However, the site is beautifully organized to take beginners on a comprehensive learning journey to build up the skill sets needed to managed alerts as well. I will say that patient and disciplined newbies are also well suited for the service. I use caution because its very common for a newbie to jump headfirst into the options alerts only to get their accounts wiped out because they just haven’t built up the foundation of knowledge and experience to manage the trade, even when the trades are (initially) winners. Options (especially weeklies) are very volatile and a winning position can turn red quickly, especially if held overnight. Since options fall under the pattern day trading rule (PDT), many newbies will find themselves forced to hold overnight unaware of the three round-trip rule, which can transform a winning trade into a loss on volatility and time premium alone. Having a minimal $25,000 account to offset the PDT rule is an important factor for intra-day options scalpers.
Is Weekly Money Multiplier a Good Value?
The service is a good value at $1,497 especially when the “retail” value of each service a la carte would be $5,898. However, you will get out of it what you put into it. Pacing is important as well as avoiding the itch to jump headfirst into the trade alerts, as tempting as it may be. There are many accounts of newbies blowing out their small accounts even before completing the video training courses. The tools and materials are there, but it’s in the hands of the user to learn and apply the techniques without rushing it.
- Easy-to-follow options trading course with plenty of content
- Simple trade alerts sent via SMS/Text
- Simple and not-too-complicated set-ups and patterns behind the alerts
- Access to the RagingBull network of services on a single dashboard
- Easily accessible customer service around the clock
- Transparent access to moderator’s trading account screens
- Market moving alerts can reap fast profits for the nimble
- Oversaturation of marketing for other RagingBull services
- Risky directional trades must be managed diligently, no action is an action