Options Trading Course

[perthtrader]

Hi there,

has anyone been to Peter spanns "super trader" course???
Is it worthwhile??? I'm in perth and would like some feedback before I travel to QLD to do the course...

thanks

 

[wayneL]

Hi there,

has anyone been to Peter spanns "super trader" course???
Is it worthwhile??? I'm in perth and would like some feedback before I travel to QLD to do the course...

thanks

You would learn more from three or four reasonable books....and the books are more likely to give you the truth.

Start with Guy Bowers book.

Finish with anything by Charles Cottle.

 

[wayneL]

Hey who wants to start an options seminar company with me?

....pos? .....Crashy? .....Ted?

Easy money I reckon!

 

[The Barbarian Investor]

Perthtrader


have a look at jet$ post re the free options course from century 21 also as well as some of the other posts in this area.

PS- Q: Do you work with windows?

 

[JetDollars]

I would love to attend the course if it is for free or less than $200.

I don't think I will spend that much money for the course.

 

[positivecashflow]

Hey who wants to start an options seminar company with me?

....pos? .....Crashy? .....Ted?

Easy money I reckon!

SMILES

 

[SuperTed]

Funny thing i was staying in melbourne and bumped into an optionetics presenter in the hotel lift.

This chance very short meeting confirmed a few points i already beleived to be true about seminars.

 

[wayneL]

ASIC does something....at last!


http://www.asic.gov.au/asic/asic_pu...+against+option+trading+seminars?openDocument

http://www.findlaw.com.au/cases/caseRTF.asp?id=349888

 

[markrmau]

What book would you recommend for learning the basics of options (older books might be better actually).

Or are there no basics?

 

[positivecashflow]

• by trading options, and working less than 10 hours per week, you can regularly make between $2500 and $7000 a week
• by trading options returns of 150% in five days can normally be made
• by renting shares you can generate a predictable and consistent return every month of $2500 or more
• through attending a seminar conducted by Carlo Castellano it will become virtually impossible not to make money.

Gotta love those claims!

 

[positivecashflow]

Guy Bower's options book is a good start.

ASX brochure on options is also a good start.

Thats all the OZ stuff I know...

 

[RichKid]

ASIC does something....at last!
http://www.asic.gov.au/asic/asic_pu...+against+option+trading+seminars?openDocument
http://www.findlaw.com.au/cases/caseRTF.asp?id=349888

Thanks for the links Wayne, thought the ASIC release was worthy of extraction in full as some courses I've heard of make similar claims. I like the last claim in the release below "through attending a seminar conducted by Carlo Castellano it will become virtually impossible not to make money." If only it were so...

04-176 ASIC acts against option trading seminars

Friday 4 June 2004

The Federal Court has accepted undertakings from five parties that stop alleged misleading and deceptive claims being made during the promotion and provision of option trading seminars. These undertakings were given to the Court as a result of an application by the Australian Securities and Investments Commission (ASIC).

The five parties include Giann & Giann Pty Ltd, trading as Break Free Events (Break Free Events), and its director, Mr Jon Giannopoulos, and CTC Professional Services Pty Ltd and its director, Mr Carlo Castellano.

The parties also undertook to the Court not to conduct a financial services business or provide financial product advice, particularly in relation to derivatives and securities, as defined in the Corporations Act, without being authorised to do so by an Australian Financial Services licence.

Break Free Events promotes and arranges seminars and conferences on investment strategies and wealth creation concepts.

ASIC alleges that Break Free Events arranged and promoted seminars which promised to teach highly lucrative option trading secrets.

ASIC further alleges that the seminar presenters made representations to attendees of the course that certain trading strategies promoted in the course would enable ordinary people to achieve high and consistent returns. Several of these seminars were presented by Mr Castellano.

In particular, ASIC alleges that Break Free Events made a number of specific claims which, ASIC considers were misleading and deceptive. These claims include:

- by trading options, and working less than 10 hours per week, you can regularly make between $2500 and $7000 a week
- by trading options returns of 150% in five days can normally be made
- by renting shares you can generate a predictable and consistent return every month of $2500 or more
- through attending a seminar conducted by Carlo Castellano it will become virtually impossible not to make money.

Justice Finkelstein of the Federal Court made further orders to enable the proceedings to be brought to trial.

Updated: 04/06/2004

This may be the case you linked above, I found it easier to access on Austlii, worth reading for new investors:
Australian Securities & Investments Commission, in the matter of Giann & Giann Pty Ltd [2005] FCA 81 (15 February 2005)http://www.austlii.edu.au/cgi-bin/d...ct/2005/81.html?query=^+carlo+castellano+asic

George A. Fontanills has a book called 'Options Course' (look for the Australian edition) and a companion 'Options Course Workbook', both looked well structured at first glance but I'm not into options so it may be a dud but thought I'd mention it. Daryl Guppy mentions Fontanills on his site and the ASX has options courses too. As Pos mentions the ASX will send a free copy of their options brochure if you email them.

 

[money tree]

Now I see where I am going wrong. I need to charge 1300% more and make baseless claims. Guess nobody is interested in paying a small amount for a legitimate course that tells the truth

 

[RichKid]

Now I see where I am going wrong. I need to charge 1300% more and make baseless claims. Guess nobody is interested in paying a small amount for a legitimate course that tells the truth

Ha ha! yes, that's right they do get away with blue murder and as WayneL suggests ASIC should be doing more to prosecute these types of people. I've seen that Break Free name in ads before, must keep an eye on there courses to see what they're upto. Why is it that people always think 'the more you pay the more you get' with these courses?

 

[positivecashflow]

George A. Fontanills has a book called 'Options Course' (look for the Australian edition) and a companion 'Options Course Workbook', both looked well structured at first glance but I'm not into options so it may be a dud but thought I'd mention it.

Great book... Even though its the Australian edition it is still geared towards the american markets...

 

[DTM]

"The complete idiot's guide to options and futures" by Scott Barrie

Picked it up in LA and it promises to give you a very good back ground on how options work, how markets are inter-related, including interest rates, bonds, gold, oil etc. I've just started and it uses very basic language. Easy to read so far (first chapter) and could possibly the most thorough book if you want to learn about options and futures.

Will let you know how good it is when finished.

Daniel

PS I dont know if there's an Australian edition out there.

 

[The Barbarian Investor]

How about Louise Bedfords books on Options ?

just had a *flick* through her options book and candlestick charting which personally i thought looked good?

Chris TATE didn't seem to like some of the get rich guru's sprouting unrealistic options trading via coveredcalls and buy/write schemes though (see an earlier post today in which i inserted part of ane-mail i recieved)

A regular income from options trading sounds good- a great system returning what some seminars propose sounds great..as for the truth...who knows, i haven't traded options via covered calls or the protected buy write strategy, on paper though they look good..

 

[tech/a]

Tree.

Im interested in what your saying re your course.
You obviously know your stuff and have something that is of value to the general public.The only problem is is that its only you that knows its value.

Your "Guess nobody is interested in paying a small amount for a legitimate course that tells the truth".Suggests some frustration.

Ive always taken a marketing interest in products available to traders particularly those that are in my veiw great value.You maybe interested to know.

Tradesim a fantastic portfolio systems testing piece of software used as an addon to other software like Metastock--------after 4 yrs is just starting to return the $$s for time invested.

Metastock Tips and Tricks by Roy Larson one of the best publications at a fantastic price I know of(If your into that stuff),Isnt making a wage---YET.

Nick Radges Book Everyday Traders didnt sell out 5000 copies and a great read.

Your pitching to a nich'e market and those who are into options will already know most of what you do.Your USP is a method which you state is 100% risk free.You wish to sell this but cant disclose it as it is a combination of common option stratagy's.

Its a hard road your course of $300 or 4 books for the same.

The general road trod by the Guppies of the world do very well.In Adelaide (Not the mecca of venues) saw Guppy fill 2 nights x 150 people at $149 a head a few years ago when I went.The presentation was informative and very basic.I looked around the room and saw AWE in the eyes of the un initiated.If Darrel didnt make 35K in his 2 nights plus merchandising Ill go he.

My point is once you get known and going youll make a killing and not just in the market.

I know you dont like my advice but here goes.
If your an expert in OPTIONS and not in MARKETING then employ an expert in MARKETING after all what your asking is that others employ an expert in OPTIONS--------YOU.

 

[DTM]

"The complete idiot's guide to options and futures" by Scott Barrie

Picked it up in LA and it promises to give you a very good back ground on how options work, how markets are inter-related, including interest rates, bonds, gold, oil etc. I've just started and it uses very basic language. Easy to read so far (first chapter) and could possibly the most thorough book if you want to learn about options and futures.

Will let you know how good it is when finished.

Daniel

PS I dont know if there's an Australian edition out there.

An excellent read. Very informative and explains everything in a clear manner, easy to understand. I could have saved myself 5k by reading this book instead of doing the optionetics seminars.

A friend also lent me a book from SBC Warburg titled "Options: The Fundamentals" written for their clients. It explained everything more clearly when it came to risk/returns ratios and the basis of those calculations/assesments. Combined together, these two books would be more than enough to learn about options. Not as thorough for all the different strategies used but gives you a good grasp of the basics and underlying principals.

 

[The Barbarian Investor]

Is Perthtrader still about ?