Dollar Ace Review
One of the most frequently used trading services at Raging Bull is Dollar Ace. It is also one of services provided by Kyle Dennis, who is one of the most successful traders sharing his trading screen right now. He is one of the winners of Jason Bond's Millionaire Roadmap. You can read more about him in my Kyle Dennis review. For now, let's focus on Dollar Ace.
In my review about Dollar Ace,
as part of the Raging Bull Trading reviews series, I explain exactly what you can expect from the service. Moreover, you will also learn about all the costs and discounts, as well as some additional information you won't find anywhere else.
About Dollar Ace
The concept of Dollar Ace is quite simple and unique. The goal is to make profits based on unusual options trading activity. When you buy one options contract, you have 100 shares of a company under your control.
Let's assume that another market participant places an order and buys 1,000 contracts. We can then assume this person might have information that others don't have. This becomes even clearer when the options strike price is chosen way higher than the assumed price.
This is the basic strategy applied at Dollar Ace. Kyle Dennis offers a service, where he scans the market for unusual options activity. When he finds these specific unusual movements, he sends out alerts. But the service doesn't end there. Kyle also takes a very close look at the chart of that specific share. He analyzes the order flow and helps to find the best possible options so you can participate in the expected move.
As a subscriber of Dollar Ace, you'll receive an email with potential options, calls and puts. They are based on a watchlist for one trading day. Throughout the day subscribers also receive alerts whenever Kyle opens, changes or closes a position.
Make money by following the smart money, that's Kyle Dennis concept in the Dollar Ace program.
Dollar Ace Costs
Unlike other services, you don't pay just $99 for Dollar Ace. That suggests to me that Kyle is committed and provides sound advice in order to make the subscription worth it.
I intend on giving you more than a half-hearted review of Dollar Ace. I'm going to give you all the insights and tidbits you need to know about Dollar Ace. You will see everything that a subscriber has access to, which is way more than just trade alerts and daily newsletters.
Before getting started, let me show you how you can save money when subscribing to Dollar Ace. Use the link below to get access to Kyle's strategy, all the educational content, and trade alerts for only $124.94 a month.
On the left side of the Raging Bull dashboard you will find the Dollar Ace navigation element. It currently contains eight items:
This is where you'll find Kyle's welcome message. He also gives a detailed explanation behind the Dollar Ace philosophy. In addition to that, he explains what unusual options activity is and what subscribers can expect from his service. You only need to read it once and you're good to go..
The core of Dollar Ace is definitely the Portfolio stream. You can follow Kyle's portfolio stream in real-time and view the current positions he has. Another benefit to the Portfolio stream is you can immediately see when Kyle applies any changes to his portfolio. This gives you a greater advantage and saves you time compared to receiving email-alerts first.
Trade Alert Videos
Sometimes Kyle will also publish trade alert videos where he gives a more detailed explanation about opening or closing specific positions within his portfolio.
Watch these videos from time to time. They will help you to get a better understanding of Kyle's motivation for certain actions.
In the video training module you can currently find five different lessons about options trading:
- Lesson 1: Option Calls and Puts
- Lesson 2: Construct of Options
- Lesson 3: Unusual Options Activity
- Lesson 4: Options Under $1
- Lesson 5: Portfolio Allocation and Risk
I highly recommend all subscribers to watch these videos. They are short, well-explained and very useful. Watch the training videos at least one time to get a better understanding of trading with options.
Stock Options Explained
In this course there are 22 lessons, summary included. It gives you all the necessary general information about options trading. The course contains charts, graphs, text and of course videos. Take your time to work through this course. The lessons are also available through other Raging Bull services. I recommend anyone who wants to trade options to get started with this course, as it gives a very good base to all the do's and don'ts.
Before you start trading options, it is crucial to understand what options are, how you should trade them and what you should avoid. To give you an example: many beginners overlook that with an options contract you control 100 shares of a company.
In the section "trading guides" you will find the link to three ebooks:
- Biotech Trading
- 7 Deadly Trading Sins
- Middle-Class Millionaire
Even if this section is not the most valuable one, I would still recommend it, as it is a great addition.
In this section you will find 68 webinar recordings. The trading academy covers everything from:
- Trading Psychology
- Trading Platform Setup
- Catalyst Trading
- Swing Trading
- Day Trading
- Options Trading
The videos are from 2017 and 2018. Together with the above mentioned course "stock options explained", subscribers will get all the information they need to acquire a full understanding of trading with options.
Some people may think that a two-year-old video is behind the times. However, I don't think it is necessary to record the same content of a video every year just to show the latest recording date. Options trading is about strategies, functionalities and greeks that have been in existence for many decades.
I think it is best to start with the course that explains stock options. Then move on to the other videos available in the trading academy and pick them according to the different topics.
Kyle sometimes mentions specific strategies in his trade alerts videos. In that case, I recommend you go back to the trading academy videos and check them out to get more in-depth information. This will help you to understand and apply the strategies he mentions.
Dollar Option Trader EBook
Start reading this ebook before you read any of the others. In this ebook, Kyle references the "unusual options activity strategy". This is the main idea behind Dollar Ace. In this compact 76 pages ebook you will learn how to use the service in detail. Trading reviews like this one usually cover quite a lot, but before getting started with Dollar Ace, it's imperative to completely understand the concept of trading.
If you don't, your money might end up going someplace other than your account.
Dollar Ace Review Summary
Kyle Dennis offers a unique service with Dollar Ace. I think it is very difficult to find a service comparable to this one. Aside from the newsletters and trade alerts that subscribers receive, the other additional content is full of very important information.
You can also scan the market for unusual activity on your own, but I think Kyle is doing a great job. He puts a lot of effort into it, analyzes the overall situation and creates a watchlist every trading day.
With an investment of $125 per month, subscribers have access to trading strategies with a potential to gain 100% overnight.
To achieve that, you must be well-prepared to minimize your risks and make sure you have a strong understanding of the market and options trading, especially in this case. It would be wise to place your first orders in the paper trading module, which these days are offered by most brokers.
Options trading is always combined with high risks and brokers want to make sure you understand the potential risks before you start trading. Apart from the Dollar Ace service, this regards any activity that involves trading options. Before you start investing money you should know what you are doing with it. This is another reason why I recommend you start trading on paper first, even if you do it on a paid service platform.
- Portfolio streaming in real time
- Email notification with watchlist before markets open
- Alerts with entry price, strike price and motivation for the trade
- Plenty of additional free content about options trading within Raging Bull dashboard
- Fluctuations in option prices after trade alerts can help to get short term gains.
- When high trading volume comes in, options priced <$1 are sensitive. This makes copy trading not always possible. However, as mentioned above in the Pros, you can use them alternatively in a smart way.
- Near real-time tracking possible only for users who watch the portfolio stream all day long. Emails take longer and sometimes they don't contain all the details.