Optionetics

trendie

Legendary member
6,878 1,431
have attended, years ago the initial seminar.
usual stuff about how you make a lot of money. ( although it may actually may be true, as they teach options trading ).
americans - so expect lots of hee-hah, in-your-face "I was once broke, in debt, then suddenly, I now make thousands a day" type stuff.

Did attend the first part of the paid seminar ( you can leave before noon and get money back ).

Cost then was around £2000,
The room was full. Had about 300 plus people.
Thats £600,000 !!!!
The seminar is one-way-talk. Too many students, for anyone to put their hands up and say "I dont understand this, please explain again".

did finally learn options, by reading books, for total of £350 or so.
am talikg to Berkeley futures for options account. very helpful people. bit expensive with charges. But they hold your hand while you get your bearings. I like them.

overall impression of Optionetics - course sausage factory. You are just a number.
my view only.

however, their website, www.optionetics.com is very useful, most of the teachings are there for free !!!!!
 

zarif

Active member
133 2
Trendie - Thanks for the reply I went to Manchester for their free day -which as you say was all heehaah and "guaranteed success" and similar format to "Russ Whitney" property seminars and the course items were bound in the same type of material. I let the lesgs do the talking.
High pressure if you sign now then its for £1500 otherwise USD 3500.
Thanks for the sound advise.

rgds
zarif
 

Windlesham1

Well-known member
484 46
I did their first UK course-maybe 100 people,most of us sharing the cost,so only shelling out £750.Options can be hugely complicated -I've been trading them since 2000. I understand the Greeks,most of the strategies(there are hundreds),and have a broker who was a market maker for 16 years,so I have some advantages.The latest (and in my opinion highly suspect)massive move in the ftse caught me out,and Sept. became a losing month. Yes you can make money trading options,and if you've half a brain with charting,then futures and equity options can be profitable. The hard part of any trading is predicting market direction-all trading systems work in hindsight. Shares are for wimps!
 

erom43

Newbie
2 0
Optionetics course

I took the course a couple of years ago. It was very informative and instructive about the many idiosyncrasies of trading of options. It seemed primarily geared to the novice trader who could trade options with capital as small as a few hundred dollars. But it also taught many advanced techniques for trading options. For the basic seminars (for life) it was around 2000 USD, but in order to utilize all of their techniques, you needed to subscribe to their web site for around $600 per year. Additionally they sold charting software and newsletter services for about another $1000 per year. They did offer a conditional money back guarantee for their seminar fee......which I did receive about 8 months ( and numerous losing trades) later.

Their systems work for bullish, bearish, volatile or flat markets. The problem is that you have to guess correctly which one is applicable. Options are very directional in their nature and are basically leveraged bets on stock direction. Trading options can be expensive too. A commission of $19 for a $200 option contract, per side, can eat you alive. This course failed me because they failed to show me that market analysis was more important than the option techniques they taught. If I had a better understanding of technical analysis before I took the course, I might have been more successful.

A word of caution before enrolling in any course is to see what they are marketing. In addition to the basic seminar they offered: (for large additional fees) numerous advanced seminars, charting software, their web site software and various different newsletters that offered option trading suggestions. I found their newsletters to be profitable less then 50% of the time.

Their instruction on options is good, but very expensive. Be aware of what they are marketing and that you must subscribe to their web site to fully utilize their techniques. Don't expect to be a profitable option trader just by learning their basic course material. There is alot more involved to be a profitable trader.
 

Windlesham1

Well-known member
484 46
I am always happy to talk about options-it's my livelihood. Education can be expensive,but lack of it even more so. Psychology is 90% of trading,so once you've mastered the technicals there's a whole other world of bamboozlement. This year's hedge fund return in the US is 3% I'm told-yet the market has shot up-hard to explain to an outsider. Sept and Oct were losing months for me,yet if I'd sat on my hands for 4 days I'd be massively in profit-funny game,life.
 
 
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