I have been interested in taking the class from Jeff Ziegler or TheOptionsClub. Jeff's site is about making 85% successful trades on spread trading. This supposedly generates 5% or so a month. TheOptionsClub has some free videos that I have watched and Christopher Smith is all about placing some type of trades (not sure what type of options he trades) and then managing your portfolio as a business. From what I can tell from his intro videos, this is done by watching the gamma, theta, delta and beta on a daily basis. Has anyone at EliteTrader taken any of these courses? Did they live up to the maketing of making money? With so many people blowing up accounts despite reading so many books and taking courses, I wonder if these courses and books really are worth their salt.
Do you really believe that 60% a year return is out there (5% a month), and easily attainable? I think thats where you should start first. "Run Forest, Run!"
Yup, that's really all you need to know. Even during the greatest bull market in history, the greatest investor in history couldn't average more than about 20% a year. The whole idea of "options for income" is a red flag. Any time you see something promising "steady income" from options or a monthly percentage you can expect, run don't walk in the opposite direction.
Hang on you have so many on here saying they (and everyone should be) making 300%+ p.a with their holy Grail systems.... Oh no...are there really liars here? No wonder newbies are confused. so are you saying 20% p.a is the most any one can achieve? What exactly are you saying?
This course is not for you. It's easy to generate a profit 95% of the time. (Honest). But the trades you make to generate those profits are very small. So small that when you lsoe 5% of the time, it's very likely those losses will more than offset the gains. the 85% number is just a come-on to rookeis who don't understand what that 85% represents. Go with the books or free online material. Read. Understand. ask questions. Paper trade. most of all, have some patience. learn now, trade later. Mark http://blog.mdwoptions.com
I'm saying that to make money you have to risk money. The risk is deadly real, all the time. Every moment you are in a position to make money trading, you are in a live fire zone and liable to take a bullet. I can't begin to tell you how many "successful traders" - I mean guys who made millions - ended up blowing out and leaving the game with less than they started. Nobody can call themselves a successful trader until they're dead or retired from trading completely, because as long as you're in the game you never know what tomorrow will bring. The moment you forget that - no matter how smart or knowledgeable you are - you're liable to end up a statistic. That's the reality. Any promotional material that says otherwise is, um, fibbing.
Those are pretty harsh words! :eek: Of course, it's true. % "wins" is meaningless without knowing the risk/reward. It is possible to lose money on a "system" that produces 85% "wins" but make money on a "system" that only has 30% "wins". It all depends on the risk/reward. Joe.