Recently attended the "introductory" seminar on Option for income by SMBU (note SMBU is not a broker dealer or a prop firm but what seems to be "training arm" of SMB capital which is a prop firm and by that I am assuming that anybody joining has to have the S7 exams etc) Any way reason for this post is to see if any ET regulars had any experience on 1) Quality of training 2) Does it really lead to placement? or a very very few do get funded I have some concerns - Initially I thought the webinar is about talent hunt for traders but IMHO it turned out to be just another "Education sellers hard sell type thing" with all the hallmarks of snkeoil sales technics ( $5000 worth training discounted to 997 if you join today etc) - I wondered if the main firm is so reputable and must be making tons of money by "trading" why does it stoop to the "education selling " business - The webinar presenter started by bragging about how this is better than those other "education sellers" who don't actually trade and LOL ended using the same technics that those un reputable "education sellers" As the seminar progressed there was hardly any mention of actual pathway to the Prop firm... The course they are flogging is about "Option spreads for income" a typical topic On it's own it might be of value... targeting specific strategy but the tactic to lure people as if they are attending a Prop firm entry pathway was disingenuous to say the list IMO On same day I also attended a webinar hosted by IB by a firm called IUR capital a Sec registered investment adviser Topic was same " options for income" He was not selling any education but his services as adviser h...m
Does it mention anything about placement? Thought it was just advertised as the same training they give their prop traders except you could pay to access the training. Ive heard highly of them from some podcast, can’t think of names right now. Two were ex traders for them, one I beliebe did the option course. Seen some webinars put on with Mike and was well done. Had some interesting points I took out. Seemed like from what I’ve heard about prop firms on here that they’re the last prop firm that actually trains and invest in their traders. The new model seems to be charge lots of data and commissions and bring the next guy in after.
There was a vague ref to how some of the people who do courses end up working for SMB rest was pure "education selling" here and now, "don't miss the opportunity " etc As I said the options course might be worth it on it's own for those who don't know much about this product let alone spreads..but when I hear the typical "Today only discounted from $5000 to 997 " it sounds like and smells like snake oil sales
I know very little about options, but I attended a few of their web presentations and my opinion is that they have no idea what they're doing (not saying they are clueless or anything like that, just that they appear to teach generic stuff for lowest common denominator). They have day trading roots and are trying to branch out to options and futures. You would learn more from following people on ET and reading old posts. I have all the respect for Bella, but I feel they are forced to lean on selling "education" as many of the edges, prop firms used to have, had disappeared. If you want to day trade equities and can physically be there, may be worth it, otherwise there is no point paying so much, imho. Check out Mark Melnick. I think the way he trades options is a good example of the extend of their "edge" in options trading, imho. I have no direct knowledge, just been following them for awhile, so just my observations. I could be totally wrong (and would be glad to hear a rebuttal).