Hi all , first post can anyone tell me anything about optioneer software. I'm looking for negative comments and people who have tried it and didn't like it or thought it was a waste of time. As always when you search the net all you hear is how great a software is. cheers and thanks in advance
Another Optioneer user had asked me to research this for him. I did and here is what I had found. I had done this research last year. At the time of my research, you would "buy the system" for 5K which included detailed learning of their system from an experienced trader. I know one of these traders. He is a nice guy. Here is my negative. The system is base on selling naked options on the S&P Futures Contacts, currencies, etc. The problem, is that it was clear, that the users, do not know the "major risk" they are undertaking with this strategy. They are led to believe, that the "daily emails, for an EOD system, is enough so that you can trade a profitable system. To their credit, you can make a lot of money. However, my problem is that from a user who did pay for the system, it was clear that he did not know, the underlying rules of the system. He was dependent on the emails from the vendor to make trades. He had wanted to make trades without the vendor help. I explained what was necessary. To do research, spend many hours a week, preparing for trades, etc. He felt, since he already paid for the fee, it made no sense to spend hours a week on a system, when the vendor would do the work for him. Hope this helps. larryTAKEOUT@seldin.net
Did you end up joining Optioneer? I just went to their seminar today in San Diego and want to know whether to proceed. Thanks
Flier6, I did not join Optioneer. The end user, had contacted me, because he knew that I was trading Options. He wanted to learn his system, without the need to lean on the original instructors. I had no desire to pay for signals for a system that needed input from others. Hope this helps. larryTAKEOUT@seldn.net