If Sheridan or anyone else had a proprietary strategy that generated 3-4% per month, I can guarantee you they wouldn't be selling it for any price.
No. Not "impossible", but NOT realistic AT ALL. If the mentor says otherwise, ask him to demonstrate by providing two years of audited trading records.
An impossible question to answer, because no one can know the makeup or size of you future portfolio might be. That would be a nice income if you had Warren Buffett pockets. Sheridan has a good reputation and a strong background. If I had the time and money I'd take his program. Watch his video's and see if you like his style. Carl __________________ Enjoy life, it's limited. You only get as much as you take.
From SFO magazine: Training programs and seminars have dangerous limitations: Though it is true that you may have to start somewhere, the mastery of strategies and knowledge comes not from a fast-track bunch of classes, but with prolonged, active day trading. Your chances of becoming a successful day trader, fresh out of any brief training, are highly - no, extremely - unlikely, and those programs can actually harm you by encouraging overconfidence. In the beginning, that is where I went wrong, just as it goes with most amateurs. I thought that after I dished out large fees, especially for advanced programs, that I was going to make big bucks - and I mean immediately. I spent more than $20,000 on three- and five-day programs and five-hour workshops. I learned several techniques and strategies that definitely helped form a foundation for understanding how to day trade stocks. Mistakenly, I walked away from each training session actually believing that I was a pro trader. How naive of me. I still feel the pain."
Wow this is one interesting thread. I took Sheridan's course and I can share a little info with you. If you are looking to learn the basics of options trading then there is nothing the matter with the class. If you think that by taking the class you will somehow learn how to make money you are kidding yourself. Dan does not really do any of the teaching anymore anyway. He has a group of amateur "mentors." I think maybe one or two of them try to trade for a living. One guy is a full time mentor for Dan. He actually does most of the mentoring since Dan seems to make very few appearances. One guy has a full time job and is in general very difficult to deal with (I heard that he got the job because he converted a bunch of Investool people over to Dan.) I have tried to avoid him, he is pretty arrogant. The other two guys seem ok. There was a guy named Sebastion that was a former market maker, I think Dan was jealous of him or something because he was around all the time and then he wasn't. Two things you need to know for sure. Dan DOES NOT TRADE. I heard that one guy asked Dan to trade and post updates regularly, but he was told in no uncertain terms, "Ain"t gonna happen!" The second thing you absolutely need to know, DO NOT PAY FULL PRICE! Last I heard it is like "Let's make a deal" over there. Supposedly Dan is really having a hard time getting new people so he is letting people in for half price and other deals. If you paid full price, you've been taken!
Got $6500 ? trying to short 3 MO 24 Jan puts naked and you will get more experience. If you get assigned, sell 3 24 Feb calls, if not, keep the profit. Then do this over and over again.