Hit and Run Candlesticks Review: The Rick Saddler Scam
Welcome to the Hit and Run Candlesticks review. The company is a trading school operated by Rick Saddler.
According to the website, Saddler is a professional trader with 33 years of experience. He claims that he made 1400% return in 30 months.
His website also uses marketing declarations that suggest that Saddler is a profitable trader. For instance, you will find statements such as “Road to Wealth Account 1054% proven account performance“.
What exactly does Hit and Run Candlesticks sell?
According to the marketing literature, this trading school sells a cocktail of trading services. These include education, alerts, one-on-one coaching and access to a premium trading room.
The list of products and services peddled on this website looks as follows:
- 3X8 Trap class ……. $350
- Road to Wealth Coaching ……….$4,995
- Hit and Run Candlesticks 30 day Trial……… $49
In addition to this, subscription into the Hit and Run Candlesticks education program will cost $220 monthly, $588 quarterly, $1,176 semi-annually or $1,785 annually.
The live trading room is mainly hosted by Rick Saddler. During the live trading room sessions, he purports to offer live trading education and recommendations.
He also purports to have turned a $5,100 account into a $78,000 account, then closed it. Reason for the closure of this account was not given.
Now, according to the FINRA, the SEC and even the CFTC, neither Rick nor the other people who are running Hit and Run Candlesticks are authorized to provide investment advice to students in any capacity whatsoever.
Hit and Run Candlesticks Review: the performance
The website has a publicly available performance page showing the alleged profits that Rick has made between November 2020 and January 2021.
In our opinion, the performance page on this website is meaningless as Rick refuses to disclose what exactly he was trading. The performance report only shows profits but no losses have been disclosed. Does it mean that Rick has never lost a trade?
We ask ourselves what drawdowns are and whether margin requirements applied in this particular account.
The performance shown on this Hit and Run Candlesticks webpage is nothing more than a convoluted cocktail of “happy talk” where newbies can play with their imagination where they believe that it’s all about profits with no single incident of a losing trade.
The win rate is extremely high. Take note that Rick does not mention position sizing. What if the average win is only $5 while the average loss is $500?
The performance page appears to be dishonest as a graphical representation suggests that this guy made +285.52% in 6 and a half months. These numbers are unverifiable. It appears that the trading educator is using this piece of information for marketing purposes.
If Rick Saddler is truly a professional trader, he should rely on performance metrics which also includes trade timestamps, the financial instrument being traded and commission paid on those trades. In addition to this, he should provide proof of audit.
You should also realize that this performance that the dude is flauting on his website for future sales is actually outdated as we’re in 2022 but he is stopped showing performance in January 2022.
Conclusion of this Review
After all has been said and done, we’re left wondering whether Rick and his colleagues are the real deal?
According to the performance disclaimer, students should acknowledge that neither Rick Saddler nor any of the people he is working with should be held liable for losses.
The intention of such disclaimers is to waylay all the liability to the naive trader who thinks he can replicate these trading ‘results’.
The company is also intentional when it states in red letters that performance is not indicative of future results.
It appears that scamming people with all the get rich trading glory is what this dude knows best. It’s truly insane but what else will he do for a living?
Thanks for reading our review. If you’ve been scammed, file for chargeback here.
GT Sipe
I can’t verify if Rick Saddler makes the money he claims. Some of his ideas are valid on how to follow a trend. But I’ve asked him several questions on two or three of his video charts asking how he bought at a claimed price on a particular stock. While using my charts,the numbers didn’t make sense. On one chart where he had a winner, he claimed something like 10.8% profit. When I ran the numbers, the pct. was more like 1.8%, which is still a profit but WAY overstated. He refused to respond. I wasn’t a client, and the questions were not attacks, but still no response. I later noticed he erased my question on that you tube video, and took one video down.
kyle
i can verify that this is absolutely not true, rick is a good guy and he provides a lot of value. i have seen that he posts both winning and losing trades, this is a very good service and this review should be taken down.