Option Mentoring Programs

Hi - I stumbled across these boards hoping to find some reviews of various option mentoring programs. I am considering Options Xpress Coaching program at roughly $3600.

I looked into John Ocerdain's optionsmentorong.com. I think it was somewhere arounf $2K or $3K. I previewed a session and found it wasn't for me. Too many people in the online class and no real direction.

I reached out to Wizetrade to see if they have a mentoring program. Waiting to hear back.

I came across spreadtradesystems.com but can't find any reviews.

If anyone can comment on these, I'd appreciate it or reccomend another good service.

I have never taken the course,but I would never pay that much for any course,most of what you can be taught is available on this and other sites. The hardest part of trading is money management and discipline.Id check out any course closely before paying

julian said:

I have never taken the course,but I would never pay that much for any course,most of what you can be taught is available on this and other sites. The hardest part of trading is money management and discipline.Id check out any course closely before paying

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So I take it you trade and are self taught? Do you trade casually or for a living?

I used to trade full time(lost),now part time(ahead). I lost and spent much in the early days looking for the Holy grail. Like many on here I got burnt. I try and only pass on information I beleive may be helpfull. You asked me questions and your right to do so,why not ask the guy who is selling the course some questions,like does he trade live during the traing and has he a provable record.One thing I do know is that most mentors are a complete waste of time,the rest will give you good guidance and may make you profitable,but they will not give you a black box system that works. If they could then we would all have made millions and quit.

ac04 said:

Hi - I stumbled across these boards hoping to find some reviews of various option mentoring programs. I am considering Options Xpress Coaching program at roughly $3600.

I looked into John Ocerdain's optionsmentorong.com. I think it was somewhere arounf $2K or $3K. I previewed a session and found it wasn't for me. Too many people in the online class and no real direction.

I reached out to Wizetrade to see if they have a mentoring program. Waiting to hear back.

I came across spreadtradesystems.com but can't find any reviews.

If anyone can comment on these, I'd appreciate it or reccomend another good service.

Click to expand...

Personal opinion:

Just read Unit3 Unit 3 - Derivatives

£75, should be enough dont through your money away

Re: Option Mentoring Programs - anyone want the books?

If anyone is interested, I have the coaching guide booklets that are the core of the coaching program. They are 10 spiral bound booklets of about 40 pages each. Solid, no fluff, and clear information, quizzes, and trading exercises to progress through each section.

I was a team with my grandfather on the program. We ordered the program and he passed-away before we started the program.

These guide books obviously wouldn't include the personal coaching with a trader at OpX, but the books are excellent teachers, quizzers, and homework assignments on their own.

The books I was offering are not available anymore.

Since I did have the books, I can comment on them.

Now that I know what is in the books (even without knowing the quality of the coaching), I would say the program would be worth the 2500 $ cost. That was for the 6 month program. The shorter program included less than the 10 books of material (and the coaching would be limited to those also). The 9 month program didn't include any more material... I believe I recall that it simply included a longer time of access to the coach, after the booklets had all been completed.

I figure from the quality of information, ease of reading and following the exercises, ease of implementing the ideas and using the tools, and integrating them into a single unified process... any person trading an account over time would have a growing positive return from their $2500 cost.

Now maybe the 9 month course (I think I recall $3600) would have a greater return, and I guess that depends on each trader. Since the 9 month is simply an addition of more coaching time, and I never got to use it, I can't really give any helpful info... other than I would make a guess that the coaching quality is good-excellent since that is my opinion of the everything else I have experienced from optionsXpress. The only thing I had pause from was that they wanted to charge for the shipping of the program booklets. For a $2500 price tag, the cost of $25 shipping would be more prefessional to be included. But aside from that, my experiences have been good to excellent.

The program really does give you everything you need to create your own strategy... money management intro, managing risk, trade size, specific trade patterns and how to trade them, and the tools needed to search for the trades, research the stocks or options, and the program even guides you in detail through order entry for anyone who is new to trading.

However, if someone already is consistently profitable, and is simply looking for a few more tools or strategies, then the program might not be worth the 2500. The tools can be used for free from optionsXpress' website (with a funded account). The specific trade strategies that the books cover.. it depends really on if you already know them or not, and how well they fit into your own trading style. I would say again that this is tool and strategy related information, presented in an easy way to practice and internalize. And the booklets direct the reader to consider how the ideas fit into their own personal style. With psychological mentoring, you can reach information overfill more quickly, because they are all ideas you want to remember and use all of the time. However a library of many tools and strategies can be kept for reference, without a need to remember and embody each one all the time, like tools in a toolbox.. just just at the moment whichever fits best. But psychological information is more like safety clothing, you always need to remember and wear your work boots, gloves, googles, etc.


So in summary, I'd say if you are looking for a coaching program, or looking for a program to develop your own unified strategy for systematic trading.... the program is worth the 2500.

The shorter ($1700?) program is also worth the cost, especially for someone who is just starting out. This would give a stable framework to start from and the lower cost might make it more comfortable as well as simply reduce the cost/risk.

The longer program would possible be beneficial over the 6month 2500 program if: the trader is fairly new to trading and will really benefit from being able to call and ask the coach about real trades.

For someone wanting quick tips, or quick strategies, this course is not as appropriate. It's more of a start-to-finish from beginner-to-advanced course, though each book section mostly can be read and understood exclusively from the others.


Any other questions feel free to ask! I've never worked for or received any compensation in any form with any broker or anything service or anything like that... so I'm just a trader who's appreciative of optionsXpress's products and service and enjoys sharing with others (or maybe I just like to talk and share information and good feelings? :b)