CherryCoke, Dr. Pepper, RC Cola, Coca Cola – Toothaches
We recently launched our new Binary Options School and we put a lot of hard work into bringing you the best possible education material. If you are willing to do the work needed to become a real trader, we provide you the tools needed. But… there’s always a “but”… some of you don’t have the time, patience or willingness to go through the School and choose the easier path: trading with the help of a signal provider. This type of services are getting a lot of attention lately so we might as well review some of them just to make sure you don’t walk into a scam or a poor provider. Here’s another great ThatSucks.com (former BinaryOptionsThatSuck.com) review of a signal provider: CherryCoke.
CherryCoke Signals – How it Works?
To access the signals provided by CherryCoke you will need to create and fund an account with StockPair which is a reliable company and as a matter of fact, they are one of our Recommended Brokers. The fact that CherryCoke uses this particular broker is a plus but let’s hope it’s not the only one. Next you have to join Signal Push which is in a way a marketplace for signal providers: they track the performance of each provider and manage the monthly fees that traders pay for signals. However, the most important thing they do is to send automatically the trade signal to the broker. So let’s recap: CherryCoke sends the signal to Signal Push, they send it to StockPair and finally, StockPair executes your trade. So you as a trader don’t have to do anything; your trades are executed automatically according to CherryCoke’s signals. Well, actually you have to do something: to pay. Of course, all this is not free so let’s talk about how much you have to pay and what you get in return.
The signals provided by CherryCoke will set you back $500 each month. This amount is way too high for the Binary Options industry and there are a lot of signal providers who offer their expertise for less than half that amount. However, according to Signal Push, the subscription will be free for the next month if she doesn’t hit 65% accuracy.
Assets, Expiry Times and Average Number of Signals
The average number of signals is 3 per day Monday to Thursday (no trading on Fridays) and the most traded assets are US Stocks. Currency pairs and Commodities are secondary. The preferred expiry time is 30 minutes but it is not a fixed rule.
CherryCoke is considered by many a very good trader… even called a “Legend”, although the reason for that eludes me completely (keep on reading to see why). Her performance (yes, she’s a girl according to online sources, but I cannot confirm that because I did not speak to her personally) according to Signal Push is rather disappointing if you ask me: at the time this article was written, she had for July an accuracy of 47% with 8 trades In the Money and 9 Out of the Money… amazing. Ah, but don’t worry, June has been a better month: an outstanding 52% accuracy (based on 90 signals). May has not been much better: 55% accuracy (based on 82 signals). As any green trader knows, that accuracy is not good enough… and on top of that, you have to pay $500. Does it sound like a good deal to you?
Is CherryCoke a Scam?
Oh, delicate subject! There are guys screaming “SCAM!” and there are others who just say she is going through a bad period. Well, this is what we found out: supposedly, a while ago she lost her clients’ money… about $250,000 of it!!! (This is a cumulated sum; it doesn’t belong to a single client) She does not deny the sum but doesn’t confirm it either. However, she said she is working hard at getting her clients’ money back. After the big loss, she stopped providing signals but recently she started working with Signal Push, like I mentioned above. The second coming wasn’t better anyway, as you can see from the performance stats provided by Signal Push.
There’s a whole internet war going on regarding the CherryCoke matter and it is probably one of the reasons why she will stop providing signals starting with the 29th of August… Nah, forget what I said!!! That was the polite Me. So here’s what I really think: CherryCoke’s performance is crap! If Signal Push doesn’t alter somehow the results (I have no way of knowing that), I don’t see why pay a dime for those signals and more than that… how can anybody pay MONEY for signals coming from a trader who lost about $250K (based on rumors but she does not deny it). Forgive me, but the world is upside down these days! “I just lost $250K!” “OMG, WOW, you are a great trader! Please can I pay so you lose my money too? Come on, I will give you 500 bucks/month to copy your trades!!! Ohhh, I want to lose so badly!” The real reason why she decided to stop providing signals in the near future is probably the fact that she lost money. Again!
So, Should I Subscribe To CherryCoke’s Signals?
To call things by their names, some traders need to wake up and smell the coffee. I can’t imagine why someone would want to pay for signals after the signal provider lost a big amount of money. In this business facts are facts: you lost money… then get lost and don’t ask me to pay for your signals. I cannot say for sure whether she is a Scam or not, but I would never pay for her signals… not in a million years. Even if at the moment she announced her “retirement”, it is possible for her to come back in a while (maybe under another name?). After all, she tried two times and lost; maybe third time’s a charm. If that is the case… well… just make sure you keep your money safe.