z482493 said:
Does anyone know about Dr. Terry Allen and his site,
www.learn-options.com ?
Thinking of to give his course a try, any thoughts?
Forget it. The website was previously terrystips I believe. I bought the course after reading the very convincing testimonials. On getting my membership, I checked the trading portfolio they handled since they started (2-3 years I think) was making a loss. And they promised you that making 100% a year was easy. This is the same killer technique they will teach you. Basically a series of calendar spreads. But they trading it themselves, are showing a loss.
Beware of their marketing, they send you emails telling you how one of their spreads COULD HAVE MADE 243% profits, or this trade made 150% profits, or something like that. These wins are NOT consistent, they are one off affairs. Overall profitability could be negative. Worse still are the "COULD HAVE MADE" statements. As if that's worth anything. We all could have made fortunes with hindsight.
Also beware of the many "fuzzy mathematics" they throw out. You won't spot it if you don't think deeply. An example (not exact) will be "We made a loss of 40% this month but next month we made 60%". It may seem to be a win to you at first glance, but its not, its a loss. If you start with $100, made a 40% loss, you're left with $60. If you then made a 60% win, you're left with $96. Also a lot of the great sounding percentage gains like 250%, 300% are percentage of your initial margin or premium, not your entire trading account.
The whitepaper was haphazardly put together and hard to understand without reading through a couple of times. I feel they put a lot of effort into their website, and in their marketing, but very little effort into making a good product.
The killer part has to be this, after you pay for their whitepaper, they teach you a technique to tell if they expect the next month's price to be bullish or bearish, that the core techinuqe depends on. BUT they tell you, this technique is fallible! To get around this, they found a new way to figure out bullish/bearish trends by checking some websites, but they cannot tell you which websites or how to figure it yourself because they will get sued by the website operators! To find out you have to subscribe to their newsletter and pay them a monthly fee!
Then they give you lots of little tidbits like the iron condor spread, etc. which are really nothing new. If you are curious of how other people trade options (not necessarily profitably), you could pay for this, but if you're buying it believing in the profitability they suggest, run away.
