What Is "Project 303" aka the Extra Income Project?

Looking for a review of Andrew Keene’s Project 303 aka Extra Income Project?

I recently encountered the presentation where he claims to have cracked a way to make thousands of dollars in passive income every Thursday.

I sat through the webinar and did further research on his investment strategy before coming up with this review.

Inside this honest review, I walk you through the main talking points of the webinar. I also discuss the legitimacy of the investment strategy and give my verdict concerning it. I hope you find this helpful.

Before we start…

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Table of Contents

What is Project 303 / Extra Income Project?

The Extra Income Project is a presentation by Andrew Keene promoting his new investment research service, Project 303.

It has its roots in a trading system that he used during the 2008 Global Financial Crisis to make $5 million while almost everyone else was recording a loss.

Since his system works in volatile markets, he intends to use it to help individual investors thrive during the coronavirus economic crisis.

To implement his new extra income strategy, you need to devote 30 minutes, three days a week to his live trading forum.

So, what strategy does he use to make 3X or even 9X when markets are swinging wildly?

Legal Insider Trading

The key to his approach is to shadow what insiders are doing. Since they know more about their companies than other investors, their moves can give you a hint as to the direction the stocks are likely to take.

Keene invested half a million dollars on a system that reliably identifies insider moves that are worth following.

So, what makes an insider’s movements worth following? Here are a few pointers: (a) The moves have to involve large amounts of money, (b) they need to take place sequentially with little time in between trades, and (3) they should involve the same company.

The proprietary system he uses is called S.C.A.N. It scours the market, going through billions of trades searching for patterns that signal insider trading.

Trading Options

When he finds a company that fits his criteria, he recommends an option rather than the stock. He prefers derivatives to the underlying stock for a few reasons:

You can make money off of falling stocks, a common occurrence during an economic crisis.
You can earn disproportionately large returns on your investments in a short time. This gives you leverage.
They are cheaper to buy than stocks.

Who is Andrew Keene?

Andrew Keene is one of the most recognizable names in the world of trading gurus courtesy of his over 300 TV appearances. He is a regular market commentator on networks like CNBC, Bloomberg, and Fox Business.

In 2015, he became a regular on CNBC’s Trading Nation. Although he doesn’t get paid for his appearances, it has boosted his reputation.

He began his career in the Clerk-to-trade program on the Chicago Board Options Exchange trading floor. Later, he co-founded the KATL Group that also operated on the CBOE floor.

He is the CEO and president of AlphaShark Trading, which he launched in 2011 as KeeneOnTheMarket.com. AlphaShark Trading offers 14 educational courses and allows clients to pay to watch Andrew trade during the day.

He publishes three services via Money Map Press: 1450 Club, Super Options, and Project 303.

How does Project 303 work?

Since the Extra Income Project was meant to encourage new members to sign up for Project 303, what does this service entail?

The term Project “303” comes from 30 minutes in 3 days; whereby you will be trading on Monday, Wednesday, and Thursday.

These are the days when Keene broadcasts himself trading live. He refers to it as his Live Trading Room.

If you join the program, he promises to deliver at least 52 “double-your-money” recommendations in 12 months.

In addition to the recommendations, here are the other services you are entitled to as a member of Project 303:

The Weekly Wrap-up. Keene summarizes the most significant events of the week during his weekly Friday briefings.
Net Worth Boosted Alerts. When Keene deems it appropriate for you to close your position, he sends you one of these alerts.
Fast Track to Financial Freedom Training Series. It is a trading series that teaches you about the intricacies of options trading or just investing in general. It is targeted at beginners.
Access to the private website. You gain access to a network of like-minded individuals. It also acts as an archive for all the information that Keene sends his followers in case you miss out on anything.

Free Giveaways

You will be auto-subscribed to the e-letter, Profit Pregame. Every day before the markets open, Andrew briefs you on the stories that are relevant to your investments.

Subscription Fee

The annual subscription costs $129.

Refund Policy

It has a 60-day, money-back guarantee. Furthermore, you can request a refund of your subscription if Andrew fails to provide you with at least 25 “double-your-money” trades in one year.

Is Project 303 legit?

I think the Extra Income Project, and by extension Project 303, is legit.

While it is tougher to make money during a crisis, it is doable. All you need is a good strategy, patience, and some luck. Project 303 provides you with the strategy – monitoring insider activity to get clues as to where stocks are likely to move.

That being said, I don’t think you will be making “$2,500, $5,000, $10,000 or more every Thursday” as Keene promises. Realistically, you will lose money sometimes because timing the market is a fool’s errand.

He may have over-promoted his strategy to get more people to sign up but it is still legit.

My Final Word on Project 303

Andrew Keene’s Project 303 is designed to point you towards the right investments in a volatile market. It can be tough to do it on your own especially if you are new to it. You may be susceptible to going with the flow – withdrawing from the market to avoid losing your money.

But as we have seen in past market crises, some people specialize in crisis investing. There is a small group of people who follow strict guidelines and remain patient while everyone else is overreacting.

We have covered a couple of them here and Andrew Keene appears to be one of them. He thrived during the 2008 Global Financial Crisis courtesy of a trading system that was based on monitoring insider moves and options trading.

After watching the Extra Income Project presentation, I think his trading strategy makes sense. My only concern with it is that he doesn’t accurately portray the level of risk involved – volatility increases the risk factor considerably. Therefore, this is effectively a high risk-high reward strategy.

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