Is Andrew Keene’s Project 303 a scam or not? You are probably here now because you are researching Andrew’s Project 303. Well, I can tell you I personally tried Andrew’s Course, and I can share the real story with you. The sales marketing for Project 303 is quite impressive, promising you will make thousands of dollars a week, in just 30 minutes, 3 days a week. And his method involves buying and selling options for profit. A few years back, I traded some options. So, I knew trading options is very risky, and most people lose money. I knew what the risks were, now let me share my experiences with Project 303.
- Name – Project 303
- Website – https://moneymappress.com/
- Price – $299 to $599 a year + $5000-$17,999 a year upsells
- Owners – Andrew Keene/ Money Map Press
- Quality – Poor – Long record of complaints
- Overall Rank – 3
- Refunds – 60 days and a I year refund offer
- Verdict – Not Recommended
Is Andrew Keene’s Project 303 A Scam? – Let’s Find Out
If you aren’t familiar with Andrew Keene, you are not alone. I first heard of Andrew from his ads promising thousands a week and only spending 30 minutes a day, three days a week. I had to admit it sounded pretty good, but was it a scam?
In fact, that is how Andrew came up with the name 303. 30 minutes, 3 days = Project 303.
Who Is Andrew Keene?
Andrew Keene is President & CEO of Alpha Shark Trading, originally called KeeneOnTheMarket.com. He is a self proclaimed options expert who has experience as an options trader, and with live appearances on national television. His Project 303 trading program boasts a live trading room in which Andrew is trading in real time. Andrew currently actively trades futures, equity options, currencies and commodities. He is also a guest market commentator on such networks as Bloomberg TV, CNBC, and Fox Business.
How Does Project 303 Work?
It is an online service that includes a training guide to help explain trading options. The training is a very brief overview of basic instructions that can be finished in about 30 minutes of reading. But, for this program, all you need to do is tune into the live trading room three days a week and Andrew spots trades and gives them to his subscribers. Then, they copy the trade with their broker in their own options trading account.
Andrew calls out an “Official Trade” after he spots one, and you have to make your trade in less than 20-30 seconds, before the price moves. Sometimes, brokers prices are already higher than the real time price he is placing his trade at. So, I seriously question his real time price quotes. He is using a paper trading account and the quotes are delayed slightly, Andrew swears they are real time.
Andrew uses a paper trading account because he is not allowed to trade the same options he is recommending, or so he says. I can only say my guess as to the reason why. So that they can’t run the price up and down on a stock if they don’t trade it at the same time. I know that Money Map Press rules require they don’t trade the same stock for 24 hours.
The Project 303 Live Trading Room
Project 303 grants access to Andrew Keene’s Live Trading Room which only shows his screens and scans coming in from his own scans. Andrew developed this system he calls SCAN which is actually four parts:
- Spot the tell – the actually trade he takes.
- Confirm the signal – he uses several scanners to confirm the trade.
- Automate and execute – Trade with entry and exit signals planned.
- Net Worth Boosted – Not really!
You are given the price to purchase either a call or put option, and told not to chase the trade. But he goes very fast, and it is hard to get all his information quickly, and confirm. This is important because the price changes very quickly.
Some Trades Are A Mistake, But You Lose Not Andrew
But, one call option trade he made an official trade, then, he disclosed he already held a put in the same stock. The next trading day, he didn’t like how the stock was acting, so he said to get out of the trade, at a price not less than 74 cents.
Once Andrew gets out of a trade, he is done with it and you are on your own! But if he says at no less than 74 cents, what do you do? He’s out and you are left holding the bag. All he says is I closed that trade? That trade is dead to me.
That option was already trading lower in my account. And everyone who waited, hoping to get the .74 price, just watched the price go lower and lower. Andrew should have said ” Get out at the market price”. That was a totally confusing trade that everyone who didn’t get the .74 price lost much more money. That was my biggest losing trade.
I also have to question why is Andrew telling everyone to go long a stock he is shorting? We lost money, and he made money! That was unethical, even if he did disclose he had a short position. That trade never should have been an official trade.
Related Article: Is The Money Map Press a Scam? – [My Review]
Rapid Fire Trades – Is Andrew Keene’s Project 303 A Scam?
On Mondays, Andrew gives official new trades and maybe one or two trade ideas. He makes a point to tell everyone which are trade ideas only, because he doesn’t include them as official trades. And you are on your own with trade ideas. He has also taking profits the same day on trade ideas. Not everyone can do that, and I will explain why later.
If you didn’t get it the first time, you are waiting to hear what exactly you are buying. He does write it down in the official log later, but that is way too late to get the price he quotes.
This program has many flaws. It is a verbal official trade called out by Andrew. So if you don’t get the exact trade wrote down, you are likely going to miss the trade if he doesn’t repeat the whole trade properly. It needs to have the trade visible, in writing immediately.
You need to be able to place the trade within 20 seconds, Andrew actually says that. Some of the trades are limited quantities, and will be gone quickly. Sometimes Andrew tells you how many options are available, and sometimes he doesn’t. I don’t know if that is deliberate or not, but it helps to know if the quantity is very small.
An Option Trading Account Is Needed Before You Can Trade Anything
Project 303 is trading options for profit. When you trade options, you need an options trading account before you start. That may take a week to get confirmed and set up. Then, you also need money sent to your account and usually it takes 5 days or so to get your money transferred and available in your account. So, you waste the better part of a month just getting your account set up. The 60 day refund period gets reduced very quickly to slightly more than a month.
The official trades are considered a swing trade and are likely going to be held for a period of time. But, the Project 303 trade ideas could be a day trade. Day trading options requires a very large amount of money deposited in your account before you can day trade. You need to be authorized to day trade, Not everyone can do it.
- Product Is Affordable
- Only 3 Days A Week Required
- Refunds Offered
- Not Easy To Get Good Prices On Options
- Can Lose All Your Money
- Need $25,000 To Day Trade
- Expensive Upsells
Is Andrew Keene’s Pitching The 1450 Club Inside Project 303 A Scam
Andrew does not tell you that some of his trades are day trades. In fact, he said most of his money was made by day trading in the 1450 club. This does not help people who are not aware day trading is required to make money. Some people can not afford to day trade, they simply don’t have that much money in their accounts.
Most of the trades are losers or they make very small amounts. No where near the thousands a week Andrew is claiming. Is it possible? Maybe if you have plenty of experience, and a separate super fast machine with dual monitors, you completely set up for trading. And, most importantly you will have to pay $5,000 for the 1450 upgrade to get signals in real time and be able to day trade
Quite often Andrew is telling everyone, we need to get you guys into the 1450 club, so you can get even better trades in there. But, what he isn’t telling you is that a lot of the trades in the 1450 club are day trades.
That involves a lot more money placed in your account to qualify for day trading, At least $25,000 needs to be in your account for day trading. If it drops below that, day trading isn’t allowed until the balance is brought back up to $25,000
What I recommend
This program is not what Andrew is making it out to be. Project 303 is based upon A scan system, that is not very impressive to me. I lost on almost all the trades, very few were even close to making 100 percent where I sell half. Then I lost money on the remaining half. Yes, I had some winning trades, but in the end I lost money.
This product is not for beginners, and it does not produce thousands a week. The only way to do that is to buy a large quantity of options. But that increases your risk of loss as well.
Save your money! The only person making the money here is Andrew! He is making it on all the subscriptions of people who sign up and go past the refund date. There are much better ways to make money. I make money using affiliate marketing.