A less riskier use of $3000+ for someone who has put in the reading hours to give themselves a good grounding in the basics (and fleshed out an initial approach) and wants the input of an "experienced trader" might be to sign up for some individual coaching/mentoring with Charles Cottle.
The more I speak with them the better they sound. I have asked them some pretty tough questions and they seem like fairly honest answers to me. I have 3 critical criteria before I buy any education now. 1. Money back guarantee (They have given me 2 options with this one) 2. referrals of real people (once I get to seminar I will meet 90 of them). 3. Proof of income or statements. (This is a tough one with this company because they are not really selling a system but an education) I would really some opinions from past students though either good or bad.
Samson, Why don't you order their seminar material on Ebay first, it is an actual video of a Seminar and usually comes on VHS or DVDs.
All these criticisms from me about using the seminar approach vs. self-study is all moot if the person intructing will show a brokerage statement for at least 1 year 2003-2004 which shows their option trading pnl. Nuff said..
Firstly let me say this: You options forum guys here on ET are way more civilized and way more helpful then the futures and daytrading bunch... thier a bunch of animals... LOL. Excellent advise from everyone thanks so much. I checked out the risk doctor by the way he's exactly what I was looking for.
Here's the deal.. I've played violin for a year, (private instruction) and then joined an orchestra. I was nervous because I only had 1 year of experience, and the others had 6-8. Of course everybody thought their teachers were great and they were well taught.. But when it came down to it, I was surprised how poorly they played for someone with 6-8 years under their belt.. Especially after they told me how great their teachers were.. Then, I realized, you can't really tell how great your teacher is, if you don't even know the fundamentals! So if you think the optionetics guys are great, it might be because you don't know what "great" looks like. "Better than you" doesn't make them great, great makes them great. I really thought the optionetics guys really knew what they were talking about, but as I research more, I realized they just knew great marketing. While they will offer you a lot more than maybe a beginner's book; I wouldn't go to a seminar until I knew the basics.. If you aren't familiar with the Greeks, you can get familiar with them on the internet. A lot of resources and 99% of it for free.. You can ask on this board, I'm amazed by the night and day difference of this board vs most of the day traders I know.. The board is helpful and polite. Really full of elite traders. I think optionetics will give a great intro, but not enough to really push you along the $$$ path without a lot of "tuition" payments along the way.
Samson, you get the videos 10 days before the seminar- this gives what they are going to teach but in more detail. I could see what I was getting was a good intro. to options but certainly nothing that would make me money per se. Making money is essentially the same whether you trade futures, options or equities: you have an opinion of where the market is going to go and then follow money management techniques. If you have a soundly based opinion and a certain degree of luck then you can make money. Complex options strategies kind of mix that market opinion with subtle money management. Damir, on another thread, said that he traded options because he was the type of person who found it hard to keep the same opinion with the underlying(he would close early) - and that is my reason for looking into options. They lend themselves to longer term strategies. The course by optionetics is probably a good intro. for newbies but I think there is nothing in it that can't be found out in good books - and by asking on the excellent options forum on ET. As someone said the optionetics platinum subscription seems good, and at $90/month worth playing with. You need to practice putting option trades on while looking at all the intricacies. More value there than listening to some talking head at a seminar.
Hello everybody. I would like to appologize about my english,but you all can understand me. I'm not part of optionetics, but I bought their program. Firstable if people didn't take the optionetics seminar, they shouldn't have any opinion related to the product. I will tell you guys my opinion. It is like anything else in life, if you are willing to go the extra mile and learn optionetics philosopy than you will be able to get to the wire.the problem with all of us is,that we want to see results after one day. but this is not the way in life. If any one of you guys ready and willing to spend days and weeks study thier program and ready to follow thier instruction, than I belive that you will be able to do it.If not don't waste your time and money buying any program including optionetics. I found out that every time , when I go to thier 2 days course I learn and understand more.If you want to know we also trade live threw the second day of the seminar. If you have any quetions ask me .
*********************************************** Some of mr George of optionetics.com is basic but still worthwhile; for example on old & free Signal video [now esignal] George used something like a multi month chart & 50 day moving average . And while perhaps not original or 100% accurate; put his principle of ''big money comes in during the last hour'' in my written plan. His book is basic, & better than Mark Douglas book but not quite in the same class as ; Big Trends by Price Headly Shelden Nattenberg or Sheldon Natenburg 3 Jack Schwager top trader books 2 Jack Schwager books are fine but not as helpful as 3 Schwager In a multitude of counsellors there is safety. Solomon,trader King.
After doing a lot of due diligence on Optionetics I came to the conclusion that the material that I was looking for would not be taught till after their Elite Course and I'm not about to fork out 30k to get there. The company did not offer any guarantee after the course and they would not give me referrals until after I got to the course either. So this company should be avoided in my opinion until they do those things. I followed up with www.riskdoctor.com at the advise of another ET member (thank you) and I will probably be using his services as he can taylor them to my needs and he charges an hourly rate which is a much better way to do it in my opinion.