Optionetics Course - Is it good?

[mazzatelli1000]

I was at the same seminar.. I do not understand why are people so upset by this salesman? Do you have to like a salesperson to by the product? What if he was different and fit all your expectations? Would the product be any different? Would you by it?

Please spare us

Snake oil alert

 

[Aussiest]

Do you have to like a salesperson to by the product?

And 'by' the way, it's 'buy', not by.

No wonder you were sucked in by him..

 

[aacantona]

Re: Optionetrics - Dodgy?

Despite not having done the course, I think this statement is 100% true and most important for anybody looking to do an options course.

It took me a week of study just to get my head around some very basic strategies (spreads, naked puts, covered calls and DITM) and the lingo, let alone any depth of understanding. In a weekend, would have gone straight over my head.

2 days, a few weeks...i've spent the last 4 years effectively studying and writing about options markets. The best that a 2-day course can offer you is a pamphlet-like education.

 

[DORA]

I was not “sucked in” by this man, but I was not irritated by him either. I ”know” that they are all great family men, with hundreds of properties, and that they are soooo rich that they do not have to work, but they chose to because they love it. I also think that was very bizarre to show photos of his family. But, I did not care about him. I wanted to see what is offered by this company, and yes, I sign in and bought the homestudy knowing that I can bring it back on the first seminar and get the full refund if I did not like it. I have watched first dvd (twice) so far and I think it is really great.
By the way, English is not my first language and I am sure that you will find more spelling mistakes in my posts. .

 

[wayneL]

I have watched first dvd (twice) so far and I think it is really great.

Compared too....?

 

[Derived]

The guy who is promoting all aspects of Optionetics is probably working for them. Poor way to promote my friend. I trade options myself, I took crash course that cost me about 3,500 dollars over about 8 months. Everyone and anyone who has access to a computer can access this course, (and some funds of course!). It's called, "do it yourself". Trading on the market CANNOT be done successfully without some intial losses, (smarter ones tend to minimise these losses from the outset) however, every single trade you lose YOU MUST learn from. Simple as that. Google some good trading tools, such as William Gann. I'll tell you because if we all eventually follow some similar rules - which traders generally due - then the art of auto-suggestion works even better and better ... (etc) - new traders become 'seasoned' traders and the more 'experienced' ones tend to make more money. I love trading because the more you trade the more you learn - don't forget that you are part of the market you trade in, don't try to outsmart or predict it. Simple logic will always outwit. I have learnt this. In the first few months of trading I read about 5 books, then I traded - broke even for a few months, lost a few, made a few, now i am consistently closing above 3-5K a month. Not bad for 3years trading while studying full time.

 

[StockLearner001]

I recently attended a free seminar of Optionetics. As an special offer for those who joins the course on that night, they guaranteed to return your course fee if you donot earn 300% of course fee within 6 months following their strategy. I just enlisted my name without paying anything and supposed to pay them by next Tuesday i.e. 18/11/2008 to avail the offer and guarantee. After reading all the comments about Optionetics, feeling really confused about the course.

Any one of you have any idea about this offer ? I mean it seems like ok to try the course with 4K and get back your money if it doesn't provide you with the guaranteed return.

Appreciate your comments.

Thanks.

Wahab

 

[brty]

Stocklearner,

Have you actually read this thread??

The waste of your time and money is explained on the previous page. You may get the education money back, but they will not pay for your losses.

Read the whole thread!!

brty

 

[StockLearner001]

The guy who is promoting all aspects of Optionetics is probably working for them. Poor way to promote my friend. I trade options myself, I took crash course that cost me about 3,500 dollars over about 8 months. Everyone and anyone who has access to a computer can access this course, (and some funds of course!). It's called, "do it yourself". Trading on the market CANNOT be done successfully without some intial losses, (smarter ones tend to minimise these losses from the outset) however, every single trade you lose YOU MUST learn from. Simple as that. Google some good trading tools, such as William Gann. I'll tell you because if we all eventually follow some similar rules - which traders generally due - then the art of auto-suggestion works even better and better ... (etc) - new traders become 'seasoned' traders and the more 'experienced' ones tend to make more money. I love trading because the more you trade the more you learn - don't forget that you are part of the market you trade in, don't try to outsmart or predict it. Simple logic will always outwit. I have learnt this. In the first few months of trading I read about 5 books, then I traded - broke even for a few months, lost a few, made a few, now i am consistently closing above 3-5K a month. Not bad for 3years trading while studying full time.

Thanks BRTY. Derived appreciate if you please provide the particulars of the books you followed to have some ideas. Coz, theres whole lot of books out there and it is really difficult to select a few good ones. ASX education seems to me quite helpful. Planning to read some more on options and being an experienced person you are now, value your suggestion.

 

[cutz]

Hi,

Some suggested reading on options,

Options, A Complete Guide For Australian Investors and Traders, - Bower, this book is a good primer, Options As A Strategic Investment - McMillan, this book gets you in the mood and if you still can't get enough, Options Volatilty And Pricing - Natenberg. All available from the ASF bookshop.

Cutz.

 

[OzWaveGuy]

Some thoughts:

Some Stockmarket courses use emotive techniques to make you 'feel good' and to coerce you into believing you can walk out with everything you need, even a 'support group' to help you when you have doubts (although they can't recommend you buy or sell), nice music, great videos etc etc. The courseware is pre-prepared so every trade is 'obvious' and the exit is obvious as well.

Whilst many courses provide a level of value to the beginner, they do not necessarily turn a beginner into a knowledgeable investor or trader once the feel good weekend is over.

I do not personally dislike these courses, having done one many years ago it was beneficial - however you need to understand that this will be one step in a multi-step process to become proficient in what your seeking to achieve.

Many courses are simply a business, the instructor may or may not be a trader. For many, it's easier pulling 100 people into a 2 day course for $2500 a head and earning a cool 250k (before expenses) with very little risk v's earning 250k on the market (esp under the current market conditions).

In summary - plan out your strategy, talk to people who have been thru the course. Research the instructors, you should look for ones that are solid professional traders that will help you with YOUR style of investing or trading. Avoid the 'feel good' courses.

 

[StockLearner001]

Hi,

Some suggested reading on options,

Options, A Complete Guide For Australian Investors and Traders, - Bower, this book is a good primer, Options As A Strategic Investment - McMillan, this book gets you in the mood and if you still can't get enough, Options Volatilty And Pricing - Natenberg. All available from the ASF bookshop.

Cutz.

Thanks alot. These will keep busy for some time. Thanks again.

 

[jackson8]

Thanks alot. These will keep busy for some time. Thanks again.

if you have shareware program you will be able to find the ebook written by george a fontanills ...........one of or the founder of the optionetics course

with 576 pages it basically covers everything that you would probaly pay thousands for

 

[StockLearner001]

if you have shareware program you will be able to find the ebook written by george a fontanills ...........one of or the founder of the optionetics course

with 576 pages it basically covers everything that you would probaly pay thousands for

Thanks Jackson. I ll try to find it tonight.

 

[chris2009]

Hi all,

Thanks for all the info about Optionetics i was thinking about getting the course and went to a seminar. I didn't get the course and i agree that there are other sources for the information. I want to ask if anyone knows of any investment clubs around Melbourne where people get together to exchange ideas and knowledge about options? I am readings lots of materials but i find it hard to get information on things like, what software people use to analyse options, or what a good broker is and what are good or bad fees for trading options. I came across the "thinkorswimm & eTrade" brokers on the net that look interesting to me anyone got any feedback or suggestions on good brokers and trading tools?

any advise is much appreciated.

 

[sails]

Hi all,

Thanks for all the info about Optionetics i was thinking about getting the course and went to a seminar. I didn't get the course and i agree that there are other sources for the information. I want to ask if anyone knows of any investment clubs around Melbourne where people get together to exchange ideas and knowledge about options? I am readings lots of materials but i find it hard to get information on things like, what software people use to analyse options, or what a good broker is and what are good or bad fees for trading options. I came across the "thinkorswimm & eTrade" brokers on the net that look interesting to me anyone got any feedback or suggestions on good brokers and trading tools?

any advise is much appreciated.

Hoadley has good options software. The basic version of his Options Strategy Evaluation Tool is free: http://www.hoadley.net/options/strategymodel.htm. There are lots of demos on the site and a lot of info on options as well.

The basic version is a good starting point, however, after a while you may find you need the paid version which entitles you to updates for one year.

Australian brokers are difficult because of their high fees and the difficulty of being able to trade option spreads on line. Some of them don't seem to understand option exercise/assignment and charge horrendously high fees on exercised/assigned stock.

IB would have to be the best on fees especially for small lots, but I have found customer service can be a bit more difficult. Also, if trading options with IB, you do have to fully understand their policy on option assignment and, to the best of my knowledge, you only have the first 10 minutes of the day to deal with it before IB starts randomly closing out your other positions.

There's been a lot written about brokers already at ASF - and some of it fairly recent - try doing some searches to see what you can find.

 

[long88]

here is my 2 cents on optionetics/options market.

after attending their seminar, and asking for a refund (which i got), i am still today learning on how to pull money out of market.

so far i have donated some $$, although I do have some big winner as well, (Maybe i should have really join optionetics heh ?) key here is cut the losses and let winner run.

What i have found out so far is, all of the material given on 2 day seminar is just a basic stuff, they cover basic strategy which is enough to get you going, nothing more (you need to pay more for their software, advanced classes).

What i think more important is:

- Technical analysis (Macd, ADX, DMI+, DMI-, stocastic), standard deviation probability.
- Greek (especially volatility)
- How fast is the market/vehicle going to be.
- Direction Forecast (up, down sideways).

After checking all above, apply the strategy that is suitable according to your forecast. There is no right or wrong answer, only money to be made or loss.

it is not an easy game, as we are playing against all the smart player out there.

Hoadley software is ok, but i find that i can only do 4 legs, cannot do 6 legs (although there is section for it, but the result are not accurate).



go to www.cboe.com

I find lot more knowledge over there than any other sites, pay attention to dan sheridan tv and his greeks (make sure you understand "The Greek" effects).

Hope this helps people who is starting out.

Cheers

 

[sails]

...
Hoadley software is ok, but i find that i can only do 4 legs, cannot do 6 legs (although there is section for it, but the result are not accurate)....

Are you only using the free Hoadley version? That could explain why you can't get the six legs to work. The free version only allows four legged strategies.

 

[long88]

Are you only using the free Hoadley version? That could explain why you can't get the six legs to work. The free version only allows four legged strategies.

yes it is free one so far, as i am using optionsxpress for most of the payoff diagram.

and i calculate greek by hand (excel).

Is Hoadley one is accurate in terms of calculating greeks ? i find it a bit hard to get a match between the market price and theoretical price that is quoted on hoadley, that is why i still havent pay for it.

 

[sails]

yes it is free one so far, as i am using optionsxpress for most of the payoff diagram.

and i calculate greek by hand (excel).

Is Hoadley one is accurate in terms of calculating greeks ? i find it a bit hard to get a match between the market price and theoretical price that is quoted on hoadley, that is why i still havent pay for it.

All the imputs into Hoadley must be correct. I don't have Hoadley loaded up at present, but will let you know the imputs I use when I get time.

To get a match between market price and theo price in Hoadley, you must have the correct amount of volatility entered. (Hoadley can work out the IV for you based on the current market price - there are buttons for this purpose - they are positioned in the upper right hand on my Hoadley screen.) Dividends and xdiv dates must also be properly entered if they are applicable to the stock you are analysing.