Income Spread Trader

by Brad Castro
(Austin, TX, USA)

I was a subscriber to Income Spread Trader for several months back in 2007. The service specialized primarily, but not exclusively, in iron condors.

I found it to be a valid service and overall it was a profitable experience. What made me most comfortable was the service's honesty. When there were losses, they were posted on the home page for members and visitors alike to see, not swept under the rug. And the monthly returns were legitimate numbers that squared with what they recommended and when they recommended it.

Back when I was a subscriber, the target was 10-15% monthly returns usually spread over 4-5 trades. Visiting their site now, I see that they've scaled that back to a 5-10% target, which I think is much wiser.

When I subscribed, I found myself scaling things back on my own and setting up my trades more conservatively. I typically set the spreads for each end of my iron condors a little farther out of the money than the strike prices that they recommended. I received smaller returns, but on a couple occasions, it saved me from taking a loss or scrambling to adjust the position.

I eventually cancelled the service--iron condors, while appealing on some levels, weren't right for me in the end. Still, I have nothing bad to say about the service.