The Lazy Day Trader
The Lazy Day Trader Executive Summary
This page contains a detailed review of The Lazy Day Trader binary options trading system.
Due to differing trading platform availability, NON USA Residents (including Canada) PLEASE CLICK HERE for your local review.
(Important notice: The Lazy Day Trader system is optimized for use with the ‘Traderush’ binary options trading platform. You can read an unbiased review of Traderush here.
The Lazy Day Trader Review
I remember twenty years or so ago learning a stock day trading system which by definition was 100% ‘safe’. It involved utilizing the spread between the ask and sell price on any given stock. In a nutshell you bought between the ticks in the stock price as it meandered its way through the trading day.
Indeed it was 100% foolproof. The only problem was it was quite frantic trading in terms of lots of little trades. You couldn’t use very large numbers of shares for each trade as you needed to be able to enter and exit the trades without upsetting the direction of the ticks. Even though I was using an online trading platform so my fees were low, each trade only netted a small profit. Many of these trades were needed to earn enough money to pay the bills.
So despite it being a sure fire method to trading profitably, it wasn’t really practical (for me anyway) to use on an ongoing basis.
The Lazy Day Trader System
The reason I brought this up is because I have never seen another trading ‘system’ which can produce any kind of high profit without the associated higher risk. Even the ‘spread’ trading system outlined above followed the low risk/low profit rule.
That is until I came across Keith Jones’s “Lazy Day Trader” system.
Keith Jones by the way is an ex London stock broker who worked Canary Wharf (and Wall Street) for a decade before discovering forex binary options. He promptly left his lucrative 80 hour-a-week job to instead make himself $5000 a week for only a few hours work – lazing from the comfort of his own home.
Without wanting to give too much of the game away (you’ll have to buy the strategy yourself to learn all) it works in a similar fashion to that trading-the-spreads system, but only in that it keeps the risk low provided you follow the system all the way through the trade (a trade here could mean up to 2 or 3 executions).
Yes, it’s a higher risk/reward, but a much bigger reward for only slightly higher risk.
Whilst that is probably the best similarity to have, it differs in a number of critical ways which make it an extremely viable way to make consistent substantial profits.
Apart from the obvious difference in the fact that it operates in the foreign exchange markets rather than the equities markets, it also uses options rather than direct buying and selling of forex. More accurately they are binary options as you trade calls in the currency pairs.
Secondly, the forex markets are so huge you’ll never be able to influence their movement unless you’re George Soros. Even if you’re using The Lazy Day Trader system at its maximum settings you’d never be more than a blip on a screen.
Lastly, the advantages forex has over trading the stock market are numerous. In addition to 24hr trading, the best advantage is because you are trading currencies against each other there is no ‘down’ market, no news backdrop that will interfere with the pairs. You just have to make sure you’re going in the right direction for that pair.
How Does The Lazy Day Trader Work?
Getting back to the strategy, once you have decided on which currency pair you intend to trade with (you are shown an easy way to do this) you will set up four different trades to occur almost simultaneously using staggered amounts of working capital. The reasons the trade needs to use four simultaneous steps and why staggered amounts are used in the call is explained in detail in the product.
A vital element to the Lazy Day Trader system is that you stick to same currency pair throughout the four steps and set up the four steps to execute almost simultaneously only once you are ready to do so.
This video gives a more graphical explanation:
Is The Lazy Day Trader A Scam?
Let’s face it, the term ‘scam’ has been used so widely across the internet it has come to mean just about anything from an outright rip off to a product which isn’t worth its value for money. Some even declare a product a scam when it just doesn’t work for them, irrespective of whether they followed the instructions properly or not. To do this is fair to neither the products or themselves. To be true to the definition, a scam needs to be illegal.
It’s not that we have seen any such disparaging comments about The Lazy Day Trader anywhere on the internet, and we looked hard before we bought it, it’s really about our own results using The Lazy Day Trader system ourselves which make the difference to us. Isn’t that what it’s all about? Whether these systems work for you or not?
How did we do?
Before we talk about how we did it’s important to remind our readers that consistent profits do not happen from the get go, and this is true of Keith’s system as with any other. Until you get the hang of things expect to make a few losses. Start small, test the waters and above all, give it a proper go.
Our results were impressive indeed. By month two we had worked up to profits of 500% or more per week being commonplace. That’s using 3 times the bid amounts following Keith’s system and all within 1, 2 or 3 execution attempts. This produced enough for a small family budget. We never had to risk the 4th level even once and we used the traderaction indicator each time too.
We still need to do a lot more before we can comfortably post actual results on this page, so come back soon. Needless to say we are experienced forex traders and even we started off small with The Lazy Day Trader. So should you. Even then don’t expect the same results.
So is it a scam? One thing all real scams have in common (apart from being illegal) is that once they have taken your money you will never be able to get it back. To alleviate this risk to you, The Lazy Day Trader uses a third party payment gateway (Clickbank Inc.) for its financial transactions. Clickbank is an Ohio based US-incorporated bricks and mortar business established in 2001. It’s the biggest of its kind on the internet, has a solid reputation and guards that reputation vehemently.
Under its license agreement, Clickbank is charged with making sure all products sold through its system are not illegal. It doesn’t however need to check for quality, which is no different from offline supply businesses.
How it works is this. Clickbank takes the money for the payment and passes it on to the seller less fees and disbursements. You have 60 days from the date of purchase to put in for a refund if you’re not happy with any product they are hosting. it is Clickbank who return the money to you, which they subsequently get back from the vendor from future sales.
The refund can be made through a link they give you in your confirmation email, and you don’t need to give a reason if you don’t want to. Clickbank effective underwrite your 60 day money back guarantee.
So to answer the question “Is The Lazy Day Trader A Scam?” we would absolutely say no, it is not. You learn a system which does what it says it does. However, it not being a scam is not really the only answer we need in order to make a decision. We need to dig a little deeper to find out how it has done for others, and therefore the likelihood it will work for you.
Firstly a great way to tell if a product is well received or not is by finding out how many refunds a product is getting. Logically more refunds equals greater disappointment for buyers. Fortunately for us as The Lazy Day Trader is using Clickbank to handle its payments and Clickbank does give some information regarding product statistics we can infer a products refund rate using a complicated mathematical formula. We have made this calculation for you and find that The Lazy Day Trader’s refund rate (at time of writing) is 0.27%, or 27 refunds per ten thousand sales.
This is considered extremely low and would indicate a very high level of customer satisfaction.
Secondly you need to look at your own trading styles in terms of risk/reward. The Lazy Day Trader system is a low risk trading strategy and as a consequence pays a low-risk appropriate reward. You’ll be risking only a few hundred dollars a trade and will only make several hundred dollars back. You may need to do more trades depending on your outgoings.
This is quite the opposite to say trading penny stocks. With The Lazy Day Trader you won’t find your money going up a thousand percent overnight, but then you won’t find it worthless either.
If you prefer the rush of high risk investing like penny stocks then The Lazy Day Trader may not be for you.
Finally The Lazy Day Trader does require something which not all people can give, and that is their time. Many, the vast majority in fact use the services of a broker because they don’t have the time to make their own trades. That’s why the vast majority lose.
In order to work at home The Lazy Day Trader needs your commitment for a few hours a week. If you can’t spare that then it may not be for you either.
The Lazy Day Trader Review Conclusion
Once you’ve established that a product does have a good chance of working for you in that it suits your trading style and risk/reward tolerance, the only real way to know for sure is to give it a try.
Until you are confident use dummy trades and remember you have 60 days to test it out and make up your mind. If you can’t make at least your money back by then, then put in for a refund. If you’ve only been using dummy trades then there’s no money lost either.
The lessons you will learn in the process will be far more valuable to you even if you don’t decide to get your money back.
Warning: Binary Options trading is risky and needs to be given time. If you understand that then take advantage by using this special link to open a free Traderush binary options trading account. Joining bonuses are available.