# Options tipster services



## Hopeful (27 September 2006)

I have been paying more attention to those emails that make promises about earning $ from options trading lately. As an options beginner (still haven't traded yet) I feel that it would accelerate my learning curve and if they are all they say they are then I might be profitable right off the bat! About $50-80 per month seems to be a common cost to join the service. I think I might go for it.

Would anyone like to share their experience with options tipster services and talk me out of wasting my bread? 

At the start of my stock trading days I did the same and regretted it (Pasminco...).


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## Hopeful (29 September 2006)

Interesting that there is no reply to this. The reason is:

a) nobody here is using a tipping service
b) some punters are using a tipping services and are making decent coin out of it, thus they don't want or need any competition as they think it might reduce their opportunities to profit
c) many have tried and failed, they don't want to be reminded of the pain they suffered in their losses, and don't want to look like fools by admitting that they had their arses handed to them after paying for advice, they learned the hard way that trading requires constant research and refinement of skills and knowledge
d) replying to this thread would bring one down to hopeful's low low level
e) anal beads (the final ubiquitous multiple choice option)


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## wayneL (29 September 2006)

Hopeful said:
			
		

> Interesting that there is no reply to this. The reason is:
> 
> a) nobody here is using a tipping service
> b) some punters are using a tipping services and are making decent coin out of it, thus they don't want or need any competition as they think it might reduce their opportunities to profit
> ...




Hopeful,

Most tipping services, whether options or otherwise, are complete bollocks.

Many people don't want to hear that, and folks get flamed for saying it... so they don't   

Sorry


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## swingstar (29 September 2006)

Hopeful said:
			
		

> At the start of my stock trading days I did the same and regretted it (Pasminco...).




A different instrument will unlikely change anything (again). Go buy some books and/or head to the library and do some study.


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## Magdoran (29 September 2006)

wayneL said:
			
		

> Hopeful,
> 
> Most tipping services, whether options or otherwise, are complete bollocks.
> 
> ...



I tend to agree with Wayne here, and didn’t comment for the same reasons.

I used a couple of tipping outfits in the past when they offered discount rates.  Both were pretty poor in the end.  The problem is that when the whole market knows what they are doing, some players can use this information to the detriment of the subscribers.

Sure, I learnt a couple of tricks, but there’s nothing like doing your own research to learn how to trade options.

Also, I tend to agree with swingstar here too, you’re probably better off finding a good options trader to mentor you who can sit side by side with you at the PC, and really give you some solid grounding so you can learn to trade under your own stream, and not be dependent on some pimply faced kid trader to issue a dubious trade.


Regards


Magdoran


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## wayneL (29 September 2006)

Nick Radge said:
			
		

> Hopeful,
> As part of my Chartist service I run an options portfolio. We do iron condors (credits spreads above and below) the market and a variety of stocks. Its designed to be a systematic approach to generate income with relative safety.The portfolio has only been running for 2-months at present but has generated a lot of interest from subscribers. Yearly subscribers get a 20-page document outlining the complete set of rules so its not like it some secret system.  Subscribers can take those rules so the strategy can be used on US stocks and ETF's if one wanted to take it to a higher level on their own.
> 
> I usd to trade SPI strangles for many years and the occassional (and nervous) naked put. Vol dropped so much it become too risky.
> ...




Nick,

Looks good! 

Do you leg into the condors one side at a time, or initiate the whole strategy with one trade?


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## hissho (1 October 2006)

hi all

has anyone heard of the following(for US market only)?
optioninvestor
http://www.optioninvestor.com/newsletters/oid.aspx?aid=194
and
options hotline:
http://dailyreckoning.com/LP/SteveSarnoffOptionsHotline.html

and the latter even claimed his father was a famous options guru for more than 40 years, by the name "Paul Sarnoff"...



> My dad Paul Sarnoff was one of the legends in options trading for *more than 40 years*. Wall Street turned to my dad for the best in options trading advice. He is to options what Warren Buffett is to stocks - a genius! In fact, it was my dad who started Options Hotline, his private options advisory service available only to a select few, back in 1989.
> 
> About 30 years ago, my dad brought me into the "family business" - sort of a Sarnoff & Son. For years, I literally soaked up every word he ever spoke about trading options for big profits. I watched him trade. I listened carefully to his reasons. I analyzed his every pick. I did what he did. It was awesome to watch a master trader at work.
> 
> ...




when was options invented? 50 years ago???? i remember it was invented in the 70s.....

hissho


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## robots (1 October 2006)

Nick Radge said:
			
		

> Hopeful,
> As part of my Chartist service I run an options portfolio. We do iron condors (credits spreads above and below) the market and a variety of stocks. Its designed to be a systematic approach to generate income with relative safety.The portfolio has only been running for 2-months at present but has generated a lot of interest from subscribers. Yearly subscribers get a 20-page document outlining the complete set of rules so its not like it some secret system.  Subscribers can take those rules so the strategy can be used on US stocks and ETF's if one wanted to take it to a higher level on their own.
> 
> I usd to trade SPI strangles for many years and the occassional (and nervous) naked put. Vol dropped so much it become too risky.
> ...





hello,

could you provide some more detail on these trades

are they straight up one leg or is this an iron condor

thankyou
robots


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## Nick Radge (2 October 2006)

Wayne,
Leg into each spread to create the condor. Sometimes it's not possible to get both sides on. BHP and NCM are examples this month. 

Robots, 
The strategy is to implement the whole condor, but sometimes its not possible so we finish up with a single credit spread. If an opportunity does arise, then the other side can be placed to complete the condor, but that window is quite small.


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## wayneL (3 October 2006)

Nick Radge said:
			
		

> Wayne,
> Leg into each spread to create the condor. Sometimes it's not possible to get both sides on. BHP and NCM are examples this month.
> 
> Robots,
> The strategy is to implement the whole condor, but sometimes its not possible so we finish up with a single credit spread. If an opportunity does arise, then the other side can be placed to complete the condor, but that window is quite small.




Excellent!


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## happytrader (27 October 2006)

Hi Hopeful

These guys are very good imho
www.planet-wealth.com/technicaltrader

Cheers
Happytrader


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## Hopeful (27 October 2006)

happytrader said:
			
		

> Hi Hopeful
> 
> These guys are very good imho
> www.planet-wealth.com/technicaltrader
> ...




My gollgy gosh, they have drones everywhere! Fantastic internet marketing example.


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## happytrader (27 October 2006)

Hopeful said:
			
		

> My gollgy gosh, they have drones everywhere! Fantastic internet marketing example.




Actually Hopeful, I was being helpful.

Cheers
Happytrader


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## ice (28 October 2006)

hissho said:
			
		

> when was options invented? 50 years ago???? i remember it was invented in the 70s.....
> 
> hissho




The Chicago Board Option Exchange was I think the first to create standardised option contracts in 1973. 
However options in various forms certainly existed as far back as the 1800's. Generally they were negotiated and created on an ad hoc basis between buyer and seller. 

ice


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## EEE (28 October 2006)

happytrader said:
			
		

> Hi Hopeful
> 
> These guys are very good imho
> www.planet-wealth.com/technicaltrader
> ...




They must have been sending you different tips then the ones they were sending me then Happytrader.

I decided to give this a go and paper-trade it for a month to see if it was any good.

Lets just say that I don't need to pay AU$300.00 per MONTH to show me how to lose money,   I can do that quite easily enough all by myself for free

The final nail in the coffin for my short and forgetful options trading career.


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## wayneL (29 October 2006)

EEE said:
			
		

> They must have been sending you different tips then the ones they were sending me then Happytrader.
> 
> I decided to give this a go and paper-trade it for a month to see if it was any good.
> 
> ...




The site has that "puke factor" about it also.


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## Hopeful (31 October 2006)

happytrader said:
			
		

> Actually Hopeful, I was being helpful.
> Cheers
> Happytrader




Thank you for your post. I asked for advisory services and you gave me one.

Planet Wealth seem to be all over the net, they must be raking it in!

I wouldn't use a servcie like that though as it is about two to four times more expensive than similar services for TA based signals. I'm OK with TA so don't need to pay for it - esp. not $2000 USD per year!

Actually, I was more looking for an options advisory that would provide a variety of options trades so that I could make my edumacation more interactive and effective. I might give marketFN a go for a month, but still have a lot to learn first - it's a long road ahead.


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## wayneL (31 October 2006)

Hopeful said:
			
		

> T esp. not $2000 USD per year!




Holy Cr@p!!!! Is that how much those cowboys are charging?

I gotta do something about starting a business like that. Build a pukey site with outlandish claims, cheesy photographs and a truley pretentious domain name. Charge a ridiculous amount of money for notifying numpties that a trend line has been crossed.

I'll be driving that ferrari yet!!!!


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## EEE (1 November 2006)

You don't even have to recommend profitable trades either WayneL

You can't lose


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