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Tom Nunamaker

Author Archives: Tom Nunamaker

January 15, 2017

7 Figure Automation Review

7 Figure Automation image

We signed up with 7 Figure Automation (http://7figureautomation.com/) last summer with hopes of improving our marketing and sales. Mark Marcelleti, the CEO, explained how they were certified partners with Ryan Deiss and other certifications so he seemed like he knew what he was doing.

After spending $12,000 plus buying tools they said they needed, hiring a voice artist and advertising spending of probably $1000+, we had a net of ZERO SALES from all of their efforts. Needless to say, We were disappointed.

We are in the options trading education business and Mark said he did some option trading so I assumed that he would be partially knowledgeable about our niche.

Ginsu Knives imageWhat Mark and his company did, was produce a video sales letter that sounds like something you’d hear on late night TV after the Ginsu Knife commercial. It was not targeted to experienced option traders but more to the masses who didn’t know anything about option trading. The sales page was totally not our niche.

Mark bought 100 clicks of traffic on the Google PPC network and had zero conversions. He said he was buying data. I asked him how many clicks he was going to buy before changing his strategy. He said another 25 clicks for 125 total. I later saw the Google bill for 300 clicks.

I really can’t recommend 7 Figure Automation. They only thing they were good at was processing our credit card.

Your mileage may vary.

Proceed with caution if you are considering working with 7 Figure Automation.

August 17, 2016

What Happened to SamCart?

Sinking Ship Image

Samcart logoI signed up for Samcart a few months ago. It looked pretty sweet. Nice looking order form, order bumps, upsells, affiliate sales, integration to Infusionsoft, Authorize.net and PayPal. Awesome right?

Now it’s been a few months and I’m at the point of abandoning Samcart.

Why?

The main gripes I have are

  • The backend has only very basic information. I can’t lookup the credit card information for a sale to know what card was used. Fortunately Authorize.net shows the last 4, which helps. But this should be available in the back end. Matt gave a reason that it is in violation of PCI compliance standards. Sorry Matt. I know other platforms do this. PCI compliance has more to do with having a tight server with all of your server software current and patched. You can’t store the CCV number, but other data can be stored. Just be SUPER careful as it makes your server a hacker target.
  • Samcart has dropped support for Authorize.net for new accounts. It is listed as Deprecated in the back end. Why? Authorize.net is an industry standard. Why on earth would you drop it?
  • Not enough detail on the order summary. The order information for any particular order is very basic. It’s difficult to see exactly what’s happening with a particular order or client.
  • Infusionsoft integration is marginal. Yes, Samcart can add/remove tags for various things like orders, refunds, cancellations etc. They do NOT create Infusionsoft subscriptions or add the credit card via the Infusionsoft API. When my customers go to the billing site I’ve setup, it checks all of their orders, subscriptions, credit cards etc IN INFUSIONSOFT. Since Samcart doesn’t add them, my customers can’t self-manage their billing and subscriptions.

I have to ask any customers who have subscriptions to update their credit card in Infusionsoft now so I can move their subscriptions out of Samcart. Really Samcart?

For me, it’s Game Over with Samcart

Game Over image

Think VERY carefully if you have a subscription product and are contemplating using Samcart. If you ever change your mind and want to move, it’s a nightmare.

UPDATE. I asked this question in the Samcart support:
So I can’t get the CC data into Infusionsoft?

Scott’s Answer:
Not with the way our Infusion integration is setup. It would violate a lot of compliance issues to pass over the CC data.
At one point, we have a really crazy Infusionsoft integration that did this. Took a lot of time to create it, had a lot of people test it out. And we were forced to shut it off. Infusionsoft’s API created a really poor experience for people. Information kept getting missed, order information not passed correctly, it was a mess.
So our current integration is much simpler. And we think SamCart’s speed, simplicity, stats, etc. all make SamCart a great tool to create your checkout pages, track stats, and manage orders. While passing tags and allowing Infusion to do what it does best, all of the automation and segmenting.
Scott

My questions are:

  • If it was working, why turn it off?
  • What problems did you have with the Infusionsoft API? I personally have found it easy to work with.
December 15, 2015

How to Capture IP Address in an Infusionsoft Hosted Web Form

Infusionsoft is an amazing platform, but it has occasional roadblocks to doing certain things. One of these little things is capturing a visitor’s IP address on an Infusionsoft hosted web form.

I think this should be baked into the application. However, we have the ability to work around it using Javascript. Thanks to a service at http://l2.io/ this procedure is pretty straightforward.

Step 1: Create a custom field to hold the IP address

Go to Admin > Settings

Admin > Settings Image

Click on the “Go” button to modify the Contact custom fields

Custom Fields Contact Image


Now add the custom field

Add Custom Field Image

  1. Click the “Add” button for a field
  2. Type in “IPaddress”
  3. Set the field type to “Text”
  4. Click the “Save this Field” button
 

Step 2: Edit the Web Form in Campaign Builder

Double Click on the Web Form Icon to edit the form
Open Web Form Image

 

Add a “Hidden” Field Snippet to your form
Drag hidden field snippet to form image

 

Select the “IPaddress” field and click the “Save” button
2015-12-15_11-08-02

 

Step 3: Lookup the Form Field ID and edit the code to work with your form

Look on the “Code” tab and load the hosted web form. We need to find the form field id to target it with Javascript.
Open Hosted Web Form Image

 

Right click and select “View Page Source” (Chrome)
View Page Source Image

 

Search for “IPaddress” to find the form field’s id.
– Save this id value.
– Note the underscore in front of it.
  – The id is case sensitive!

Form id for ipaddress field image

Add your IPaddress form field id to this code. 

<script type=”text/javascript”>var userip;</script>
<script type=”text/javascript” src=”https://l2.io/ip.js?var=userip”></script>
<script type=”text/javascript”>
document.getElementById(‘***YOUR-FORM-FIELD-ID-GOES-HERE***‘).value = userip;
</script>

For example:

<script type=”text/javascript”>var userip;</script>
<script type=”text/javascript” src=”https://l2.io/ip.js?var=userip”></script>
<script type=”text/javascript”>
document.getElementById(‘_IPaddress‘).value = userip;
</script>

NOTE: This is case sensitive and you MUST include the leading underscore!!

 

Step 4: Insert your code in the Web Form


Go back to your Infusionsoft Web Form and add an HTML Snippet to your form

HTML snippet Image

 

After you release your mouse, paste the code with your form ID
Paste your code in image

 

Step 5: Publish the form and test that it works

Publish your campaign, then reload the form, submit it and check that the contact record has the IP address field populated
IP address recorded in contact record image

 

That’s it!

I used this same idea to capture IP address data in a clickfunnels form that submits to Infusionsoft.

After you have the contact’s IP address, you can lookup the location at http://whatismyipaddress.com/

I still wish Infusionsoft had a built in way to add IP address to a form field, but until they do, we have a workaround.

November 25, 2014

The Round Table with Ian Scott on Thursday Dec 4th

Ian-Scott Image

Former Goldman Sachs option floor trader Ian Scott will present “Thinking like a Goldman Sachs Trader” on Dec 4th, 2014.

Mr. Scott has been the investment manager of Eventus Trading Partners, LLC and Eventus Capital Group, LLC since June 2008. He is the Fund’s primary trader responsible for all trading, pricing, execution and risk management. His expertise is in execution management and his ability to accurately price and gain from arbitrage opportunities in the market.

From 1999 to 2003 Mr. Scott was employed at Goldman Sachs (Spear Leeds & Kellogg) as an options trader on the floor of The American Stock Exchange. From 2003-2004 Mr. Scott was an options floor broker for ABN AMRO. From 2004 to 2008, Mr. Scott was an arbitrage trader for C&C Trading, a boutique trading firm in New York. Mr. Scott attended Baruch College in New York. He also took post graduate classes at The New York Institute of Finance.

While working at Goldman Sachs Mr. Scott held a Series 7, a Series 55 and a Series 63 license.

Click here to register for this free event

We will record this event and post it in our free members area.
Get your free login here if you don’t have one already.

We hope to see you in the webinar on Thursday.

November 3, 2014

The Floater Trade

Mallard Duck Image

Jim Riggio put an SPX trade on about two months ago when the SPX was at 2000. Jim put a 90-day (DEC expiration) 1975/2000/2025 butterfly on. Nothing fancy or unbalanced. I put the same trade on the next day.

Jim and I took two different approaches to managing the trade

Jim was a “set and forget” while I started making the trade a broken wing butterfly as the market started moving down. My trade made a $1256 profit in just short of two months on about $7500 of margin used in the trade. That’s a return of +16.75% in two months.

But what does this have to do with that duck?

The way I managed the trade was to lift the downside and lower the upside. I was “floating” the expiration profit/loss up and down, as the market moved. Just as a duck floats on the water and goes up and down with the tide, I was floating my expiration profit/loss lines up and down.

Does it work when the market goes up?

Of course. I put the next floater trade on about a week ago with SPX around 1958. SPX is now at 2018 and I’ve “floated” my call side up above $0 profit at expiration. Let me show you.

Trade Entry

OptionVue Matrix: SPX was at 19582014-10-27 Floater Entry Matrix Image
2014-10-27 Floater Entry Chart
Notice how narrow this butterfly is. The probability of profit at expiration is only 12% if you don’t make any adjustments. Also notice how much time premium is in this trade. Because you are selling at-the-money options, you collect a huge amount of time premium to play with.

The First Adjustment

The next day, SPX starting roaring to the upside. I made my first adjustment by simply adding a bull call spread at 1950/1925. I’m generally trying to use the same strikes. It doesn’t matter if I use calls or puts. Vertical spreads at the same strikes are the same. One is a credit and the other is a debit, but the risk/reward is identical. I’m also trying to use strikes at major price levels as those strikes are more heavily traded.

2014-10-28 Floater Matrix Image

Notice how the symmetric butterfly has changed to a broken wing butterfly
2014-11-02 Floater 10-28 Chart Image

Fast forward a few days to Oct 30th.

SPX kept rising and I floated my call side up and the put side down a little more. This was because SPX is now well above the expiration break even and I needed to keep flattening the T+0 line. Here’s what the trade looked like at the end of the day on Oct 30th:

2014-10-30 Floater Chart Image

Current Position

SPX is now at 2018 and I’ve floated the call side up and the put side down a bit more:

2014-10-31 Floater Matrix Image

2014-10-31 Floater Chart

Notice the call side expiration profit is now above zero. The put short strike deltas are at -19.2 so the probabilities are shifting in the trade’s favor. The probability of profit in 33 days is about 80%.

Summary

This is a trade in development in my “test kitchen.” I need to spend some time back testing this. (I wish QuantyCarlo was ready to go). I need to develop a set of rules for the trade, but at the moment, it’s a trader’s trade. The main goal is to keep the T+0 line pretty flat and the risk under control.
I like this trade for several reasons:

  • You start with a lot of time premium to play with so you can make a good number of adjustments without ruining your profit potential
  • The trade starts market neutral. You let the market tell you which way it wants to go and you react to that.
  • If the market goes sideways, you start with good theta so you can make a profit relatively quickly.
  • Risk is very low. The T+0 line is FLAT. My 10 lot butterfly was only $2000 in margin to start with. If we had a flash crash, that’s the most I could lose.
  • Because I’m starting farther out in time, short term movements don’t need to be reacted on in the same way with a shorter time frame trade.

What do you think?

I’d love to hear what your thoughts are for this trade. Either reply in the comments below or join us in the forums to discuss this trade at http://forums.capitaldiscussions.com/
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