Trader's Library is selling an Optionetics DVD for $9.95. Look for the speaker "Tom Gentile". I bought it and was disappointed, even at the sale price of ten buxx. 1/3 of the DVD was the Dogs of the Dow trading system, using Leaps instead of long stock. How's that for a Well Duh?!? 1/3 of the DVD was a demo of the Optionetics software. 1/3 of the DVD was a sales pitch for the Really Great Trading Systems that you get when you buy the Optionetics trading course. If you are looking for a reason NOT to spend your money with Optionetics, invest $10 in this DVD. It will convince you not to spend another nickel. I promise.
They are all gamers with no edge or an edge so tenuous you need 100-1 leverage to make $. It's a scam. If these guys knew anything , they'd be trading, not selling hype. Fancy, complicated hype, but hype nonetheless.
i was invited to come speak with/for them for a while. in my experience, there were none there among their speakers who were really accomplished long-time traders. i did not like it that they tried to make everyone feel like they could be a successful options trader regardless of their background, education, talent, etc. I thought it was disengenuous. they, in turn, did not appreciate it when i killed sales of their software, and other seminars by portraying the trading arena in a more realistic light. i have been a professional trader for 15 years, and have had a great career, but it has not been easy, and I have weathered many difficult times. I do not think everyone is cut out for trading, on the contrary, i think most retail investor types should stay out of it, particularly in the options arena where the dynamics of pricing are multi-dimensional. optionetics sells seminars and books, and software. that is what they are built to do, and they appear to be successful at it. in my personal experience, their trainers are trainers, not traders, and they lack credibility. certainly though, there are good things. the software "Platinum" is very high in utility. George himself is an affable and sincere guy, and i enjoyed the time i spent with him. learning is always valuable, and you will definitely learn something from them. yes, the seminars are expensive, and no, if you're coming to it "cold", the seminars will not make you a successful trader. that takes time in the saddle, and can be very costly in terms of losses. i recommend the "Options Course" book as a primer. if you have the money, and don't have unrealistic expectations, i think the seminars can be a good thing. you're adults.
Thanks for everyone for their comments. I thought it sounded too good to be true. I learned how hard trading is last year when i began trading Forex. I was hoping Options might be easier. It seems that trading is trading, it's a skill that takes time to develop, and I have to stop looking for shortcuts. Looks like I'll be hitting the books and paper trading for a while. Gotta keep the day job ( damn ).
First I was thinking that 3K is a rip off but when I saw that they give you a CD and a book and you can have a coffee and donut , I said wow soooooooooooooooo cheap.
optionetics platinum is too much for individual trader. I only use optionetics's "Free" list of explosive stock almost daily to find high-ranking statistical HV and incorporate it with IV from CBOE/ivolatility.com and the result is outrageous. For the seminar,i bought McMillan & Fontanills video to learn the way he trades. I recommend you to watch Volatlity trading(video) by McMillan (just 20 bucks on Ebay) and the new Option secret volatility book. Other sofware i use is Medved(free),TradeIdeas(45/mo),Advanced Analyzer(free if you're Ameritrade Apex) and briefing.com for fundamental(25/mo).
Fontanills' states "exotic securities" ... odd considering Fimat doesn't offer exotics; only futures and commodity swaps.
AlexJ, Having attend a whole bunch of seminars, preview (free) as well as the actual seminars. Not all of them are worth the money you pay for them!!! Wizetrade, 5 Star Trading (huge sales pitch on supposed actual seminar), 4X Made Easy all a waste of money!!! To be fair, I have not attended the Optionetics Seminar to evaluate it!!! Only thing that worked for me was Investools. I spent $1600 (split the cost with a friend) on the two day seminar. Seminar consisted of teaching you how to use their website which is chock full of information. To be fair, George Fontanills, The Options Course, 2nd Edition is a very good options book for beginners and it costs just $70.00. That is where I learned a lot about options. Also, education is never ending and I continue to study and refine my trading. Don't expect to learn about options all in one day. I am seeing results in my trading but, still working on minimizing my mistakes. That is where a trading journal comes handy.