OptionsXpress Mentoring Program

Discussion in 'Options' started by 64c2, Aug 31, 2007.

  1. 64c2


    I just received a call from OptionsXpress offering me an "opportunity" to really learn how to trade options by signing up for one of their mentoring programs -- while they don't offer a money back guarantee they do promise to work with me till I earn back all the cost of the tuition.

    Cost range is from $1500 to $3600.

    Has anyone had any experience with this program -- it is offered on their website under education?
  2. It's better for you to develop your own trading rules and guidelines that you'll feel comfortable trading instead of buying somebody else's that might not "feel" right.
  3. cdowis


    I agree. You need to develop your own style.

    Do you go for the speculative, "home run" style of trading (Jon Najarian)? Or the "slow but steady" income strategy (Dan Sheridan).

    You need to become familiar with both strategies before getting a mentor. Otherwise you'll just waste your money.

    Take a look at the free webinars at www.cboe.com
  4. I have had OX for 3+ years and never heard of this. - But then again, I just use them for charts.

    I think all courses like that are a waste of money.

    I have taught myself all things options for less than $300 (for learning materials) :)

    The other folks put it well.
  5. Invest a coupla hundred bucks in the leading option texts.
    Spend a summer at the pool with them.
    Read everything you can find on the net

    Take the difference in their mentoring fee and the book fee and trade your brains out until it's gone. Then you'll know what to do and what not to do :)

    There are free courses available on the net. Here's a link for one. I have no idea what level you're at so forgive me if the following is beneath you :)

  6. donnap


    Agree with others. Haven't been there for a while, but optionetics website offers plenty of FREE info.

    I have never bought a course but paid plenty learning to trade. Even great books such as "McMillan on Options" fail to mention the realities of option markets - particularly liquidity problems.
  7. The OX program will enable you to find the most adequate option (or spread) for every condition.

    But you still have to find out by yourself the most likely movement of the underlying stock (or ETF).