Welcome to my Project 303 Review (aka the Extra Income Project) by Andrew Keene.
If you’ve encountered the Project 303 presentation, he promises that his investment strategy can enable you to make anywhere between $1,000 and $5,000 every week irrespective of how the markets are swinging and earn you your financial freedom.
Having sat through the presentation, I outline the main talking points in this review for your consideration.
I will also give my opinion on whether it is legit.
If you would like to learn more about it, keep reading.
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Project 303 Trading Reviews
Introduction to Project 303 Trading
The Extra Income Project is the title of a video presentation by Andrew Keene where he promotes his latest venture, Project 303 – published by Money Map Press.
This is not the first time I am coming across a trading service of his. I have already reviewed Club 1450.
He begins the presentation by promising to show you how you can navigate volatile markets and make $1,000 or more by working for 30 minutes, three days a week. Considering that the coronavirus has sparked runaway volatility, it sounds fitting.
But, this is not the first time he is using his investment strategy to navigate a bad market. He claims that in 2008, in the throes of the Global Financial Crisis, he perfected a strategy that enabled him to grow his account to $5 million.
The S.C.A.N Trading System
Project 303 relies on a system called S.C.A.N. It scours the market looking for stocks that are showing peculiar movement – caused by legal insider trading.
By insider trading, he is referring to the company insiders (CEOs and employees) buying or selling the shares of the company they work for. When insiders buy, some investors interpret it as a sign that they (insiders) are confident in the company’s prospects and when they sell, some believe that it is a sign of low confidence.
However, company insiders buy and sell for other reasons and it’s not always as straightforward as Keene suggests.
You see, Andrew believes that insider trading is something you should be paying attention to and that you can pinpoint it if you monitor the market keenly. However, you cannot spot it by scouring the market unaided – it is virtually impossible taking into account the trading volume.
That’s why he spent half a million dollars to create S.C.A.N. It is a trading system that can scan 6.2 billion trades every day looking for patterns that are characteristic of insider trading.
Typically, those trades appear sequentially within minutes of each other, they are large and identical, and they involve the same company.
Once S.C.A.N identifies such a pattern, it alerts Andrew, who takes the next step and alerts his Project 303 subscribers to trade.
How S.C.A.N works
Andrew Keene describes S.C.A.N as an algorithm that analyzes the stock market looking for distinct patterns in stocks. But how does it do that?
Well, we can’t quite determine that definitively because it is proprietary but a general understanding of how it works can be gotten from knowing what the acronym stands for:
‘Spotting the tell.’ When insiders buy or sell a large number of shares, the system spots such a move and it alerts Keene.
‘Confirm the signal.’ Keene says that his system uses the Ichimoku cloud to determine the momentum of the stock and possibly predict future price movements. This technique relies on support and resistance levels.
‘Automate and execute.’ You need to automate your trades so that when certain conditions are met, you can make the right move. A good example of automation is a stop loss order because it minimizes your losses.
‘Net worth boosted.’ This just means that your investment has paid off after following Andrew’s instructions.
Rather than trade the stocks that S.C.A.N pinpoints, Andrew finds options and trades them instead. He prefers options to stocks for the following reasons:
- Options enable him to make money even when a stock is falling – appropriate for a market that is plummeting such as during the coronavirus recession.
- They are cheaper, hence require a smaller capital investment. This suits individual investors who tend to be limited financially.
- They have greater potential upside than their underlying stocks.
He prefers options to stocks for their leverage. It is a common theme in newsletter editing when gurus urge their followers to invest in options rather than stocks.
Who is behind Project 303?
Andrew Keene is an expert options trader and investment analyst. He is the president and CEO of AlphaShark Trading. The company, which he started in 2011 as KeeneOnTheMarket.com, provides traders with options investment strategies. Over the years, he has also launched other trading websites and education programs.
Andrew Keene is the typical millennial millionaire because he was living in his parents basements in his 20s and when he started trading options contracts, he started making enough money to move out.
He began his career in the world of finance as a clerk and later a proprietary trader on the Chicago Board Options Exchange. There, he worked for Botta Capital and the KATL Group, which he co-founded.
Although he is best known for trading options, he also actively trades futures, commodities, and equity options currency pairs.
He regularly appears on networks like CNBC, Fox Business, and Bloomberg TV as a market commentator. He has been making regular guest appearances on CNBC’s Trading Nation where he educates viewers about the equity options markets.
He has also written a book called How You Can Make Millions Trading Stocks & Options Just Like Me.
He has taught his strategies to over 50,000 people. At Money Map Press, he runs Super Options (which also relies on S.C.A.N) and 1450 Club in addition to Project 303.
Money Map Press Overview
Money Map Press is a financial publishing company that is affiliated with the Agora network.
Andrew Keene’s Project 303 is just one among many other investment advisory services offered by other investment gurus who are part of the editorial team.
I have reviewed advisory services offered by Money Map Press by experts like Tom Gentile, Shah Gilani and Michael A. Robinson.
How does Project 303 Trading Work?
The Extra Income Project presentation was meant to inspire you to join Project 303 as a founding member at a huge discount. Project 303 is his most popular trading service along with Club 1450.
The premise of Project 303 is to encourage you to set aside 30 minutes on three days of the week – Monday, Wednesday, and Thursday.
Your membership to Project 303 comes with the following benefits:
- Access to the Live Trading Room. You receive your recommendations through the live trading room. This virtual trading room has a chatbox through which you can ask Andrew questions related to trading. On Mondays, Wednesdays, and Thursdays, Andrew Keene launches the platform from 9 AM to 9:30 AM (Eastern Time) and during these sessions, he lets you watch the S.C.A.N program in actions. He analyzes the markets and talks about his current trades. He also gives you a new recommendation every week.
- Project 303 weekly wrap-up. Every Friday, he sends you an update of how your investments look like for the week.
- A Weekly Watchlist: Every week, Andrew Keene sends you his watch-list where he shows you the new trades that are on his radar for the week ahead.
- Net Worth Boosted Alerts. Whenever you need to act fast to close a position, Andrew sends you one of these alerts.
- Fast Track to Financial Freedom Training Series. It is a crash course that introduces you to Options trading. It is particularly pertinent to people who have no experience trading them.
- Access to the Private Website. The website gives you access to archived information that Andrew has been sharing and continues to share with his subscribers.
A free subscription to Profit Pregame.
Through this free e-letter, he briefs you on the state of the stock market before the market opens every morning. Every day, Profit Pregame briefs you on how Andrew expects the markets to behave.
A one-year subscription costs $129 if you are among the first 500 new subscribers (founding members). The regular price is $600 if you access the sales page through the website.
The subscription has a double guarantee.
What does this mean:
- You have 60 days to cancel your membership for whatever reason. You will receive a full refund of your subscription.
- You can claim a full refund of your subscription if at the end of your first year you will not have doubled your investment at least 25 times.
Is Andrew Keene’s Project 303 Trading Legit?
I think Extra Income Project is legit because Andrew Keene is a credible source of investment advice.
He periodically appears as a guest on business shows by networks like Fox Business and Bloomberg TV. He is even a regular on CNBC’s Trading Nation, a program that educates viewers on equity options.
I don’t think those networks would bring him on if they knew that he was not trustworthy. I mean, you’d expect them to vet the experts they bring on.
Furthermore, I gave him a clean bill of health when I reviewed the 1450 Club.
That being said, you should not join Project 303 expecting to make thousands every week on your options trades. I think he has oversold it to entice new members to join.
I have seen my fair share of get rich quick schemes and Project 303 is not one of them.
Pros of Project 303
- Andrew Keene shows you how options trading works if you are new to trading.
- Project 303 is published by an experienced professional trader working for a well-known company, Money Map Press.
- Live trading room access on three days of the week gives you access to a steady stream of investment recommendations.
Cons of Project 303
- Since the trading service relies on Options trading, it restricts subscribers to the kinds of trades they can make.
- Andrew Keene’s investment system is not immune to bad trades and losses.
Project 303 Trading Verdict
Andrew’s investment strategy centers on his SCAN system and involves trading options, an idea that not many people are particularly comfortable with.
One of his justifications, in addition to what we addressed earlier in this article, is that Options are suited to a short-term investment approach.
He prefers not to have to buy and hold a stock for years only to realize mediocre gains. Also, not maintaining your position long-term minimizes the chances that your holdings will be decimated by a market crash somewhere down the line.
Although I haven’t covered the trading system in depth in this Project 303, I think you will find it helpful. If you buy into his approach and would like to give his service a try, it is up to you. Just ensure that you don’t go into it with realistic expectations.
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David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.