Jeff Bishop Review
- Scope of services
Are you on a mission to grow your money through trading? Welcome to Weekly Money Multiplier, a site dedicated to offering educational materials for an Options trading course. Users of the platform gain access to alerts while implementing crucial and time-tested strategies to enable them to grow their money. Read along as we rigorously review one of the world’s largest trading training tools, in this Jeff Bishop Review.
Who Operates Weekly Money Multiplier?
Founded and operated by Jeff Bishop, the Weekly Money Multiplier is an online education platform offering courses and other resources regarding Options trading. The website primarily focuses on learning strategies to enable traders to make calculated moves while providing useful options for trade alerts.
Jeff Bishop, who refers to himself as the “guru’s guru” in stocks and options trading, is a member of MENSA and an alleged self-made millionaire trader. Throughout his more than two decades career, the trading mogul has developed strategies that earn him at least a single 100% options trade each week.
Bishop brands himself the “#1 Big Money” options trader globally. He is also the co-founder of RagingBull.com, alongside longtime trader Jason Bond. He is also involved in several other educational trading sites including JamesBondPicks.com in addition to his flagship WMM.
Some of the Weekly Money Multiplier’s students that have a proven track record of growing their accounts are transferred to Raging Bull to help regulate the platform.
One of its past successful students is Nathan Bear, who claims to be the “shortcut to your financial goals”. Nathan Bear joined the Weekly Money Multiplier in 2018 as a co-moderator and has grown to become one of the site’s biggest success story. According to the website, Bear grew into a millionaire trader through investing $37,525, in just under three years under the stewardship of Bishop and Bond.
Jeff Bishop and Nathan Bear are the active operators of the WMM, both of whom share trading moves in real-time via a shared screen to boost transparency regarding their positions and actions.
Jeff Bishop Trading Methods
Being an old school technical trader who primarily trades on chart patterns that are represented by cycles, Jeff Bishop prefers jumping in on momentum movements that utilize high probability patterns. He mainly depends on swing moves to bet on directional trades over underlying stocks, while taking part in options positions in 100-200 contracts.
Nathan is known to bet on substantial position sizes that typically feature a maximum of 50 contracts per position. He focuses on predicting trends and patterns for high-velocity trades that box premium positions.
Nathan mostly scalps taking directional bets on underlying stocks typically for a shorter time frame.
Weekly Money Multiplier employs several moving average set-ups including a 13 and 30-interval simple moving average (“13/30 Pattern”) made up of hourly crossover triggers coupled with momentum indicators such as MACD and RSI. The pattern forms a breakout accompanied by an uptrend and breakdown of rising and falling stocks.
Jeff Bishop further relies on trend lines and averages such as a 200-moving average to identify support or resistance levels.
While time frame can be flexible from one platform to the other, Jeff Bishop and his team, prefer employing a 60-minute time frame chart to swing placements from days to weeks and so on, up until targets are met, expire, or stop out.
If mirroring Jeff Bishop’s positions, be sure to have the bankroll as he will be executing multiple trades at a time. However, the platform explicitly discourages mirroring of trades.
Weekly Money Multiplier offers Mastermind courses in video form including “The Stock Options Explained Course”; the lessons are self-paced featuring about 20 units each for beginner and advanced learners.
Members access the lessons upon subscribing to an annually renewable plan.
Each annual membership subscription earns a learner a year’s worth of the Mastermind Video Lessons, real-time trading updates, live coaching sessions, SMS/text/e-mail alerts, and the “Learn How to Trade Options with a Master” all at a recurring fee of $1,497.
WMM members also gain access to Jeff Bishop’s on-screen portfolio.
Jeff Bishop Chatroom
Like most of its rivals, WMM provides live video streaming of Jeff Bishop’s portfolio for members to emulate. The network offers several other live chatrooms with different resources; for example, The RagingBull offers chatrooms of essential tools such as Traders Council, Biotech Nucleus, Millionaire Roadmap, RagingBull Elite, and PetraPicks Premium.
Is Jeff Bishop’s Weekly Money Multiplier Suitable For You?
WMM is mainly focused on directional trades, which are known to bear higher risk but greater returns. This means that traders who are open to taking more risks using the mechanics of options trading and technical stock analysis will enjoy using the platform.
Beginners will also find the site’s interface easy-to-navigate as it is built to take beginners on a learning journey to equip them with skills to manage various alerts.
The very nature of the platform can easily prompt a newbie to jump headfast into options alerts only to wipe their trading account clean if they haven’t yet built a strong foundation. Most newbies are victims of this pitfall, more so when the initial trades result in wins.
Options can be quite volatile, especially the weekly ones, and a profitable trade can quickly go red if held unnecessarily long. Since the pattern day trading rule (PDT) applies to Options, beginners can easily get carried away and forget the three round-trip rules, which can alter a winning position into a loss on time premium and volatility alone. Maintaining at least $25,000 in your account to offset the PDT rule is essential for intra-day options traders.
Is Weekly Money Multiplier Worth Your Time And Money?
Let’s finish this Jeff Bishop review now. Generally, at $1,497 for the service, it’s a decent bargain seeing as the “retail” price of the individual services would total to $5,898.
While pacing is normal among beginners, it is important to avoid rushing into trade alerts headfirst. As they get started, newbies are known to blow out their accounts as early as before completing the video lessons. As a user, you’ll have access to a ton of materials, but it will be up to you to make proper use of every resource at your disposal.
- Users have access to simple trade alerts received via SMS/Text
- Simplified learning materials for beginner and advanced users
- Learners have access to useful RagingBull network of services
- Saturated marketing of other RagingBull tools
- Users must diligently manage risky directional trades. For instance, no action is an action
- Relatively costly compared to other platforms.