On June 4th, I'll be attending a free seminar for Optionetics from George Fontanills. I'm sure they're going to try and push books/videos and get us to sign up for paid seminars. Just wondering if anyone has ever bought any Optionetics systems? Any comments good or bad would be appreciated.
George Fontanills/Optenetics
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I've been to the Optionetics 2-Day and attend the free repeats whenever they're in my area, which is/was part of the offer. I found the strategies to be profitable - I have mostly traded straddles. While they are not aggressive peddlers of seminars, etc., there is some of that - their Platinum website, particularly. Overall, I would give it a thumbs-up if you're new to options and would benefit from finding out that you can reduce your risk and improve your reward by doing more than buying or selling naked calls and puts.
Expect George Fontanills and Tom Gentile to be approachable and very helpful. They seem to be good guys. I've been a little disappointed by their website, which seems to have been taken over by second-tier writers and strategists.
Expect George Fontanills and Tom Gentile to be approachable and very helpful. They seem to be good guys. I've been a little disappointed by their website, which seems to have been taken over by second-tier writers and strategists.
For the money I would just buy a few books on options. I got their promo stuff when they came to my town, but I did too many bong hits that night and got caught up with spongebob squarepants and missed.
For my money I would rather be a seller of options than a buyer unless I am hedging something.
For my money I would rather be a seller of options than a buyer unless I am hedging something.
From what I have seen (books, tapes, seminars) it depends a lot on your trading style. If you are a very patient trader or a longer term investor, George's material could be very helpful. But if you are a very active, impatient trader the strategies develop too slow and the bid ask spreads will kill you! They seem to teach mainly or at least more non directional and delta neutral strategies. I would definitely recommend buying and studying the $40 to $50 books before buying the tapes and seminars.
Good Luck!
Good Luck!
Bought Fontanil's "wealth without worry" as my first option course . With all the rhetoric of doubling your money every 3 months .
OK I thought if he can double his money every 3 months ,I subscribed for a full year his option spread advisory . Result I lost 25K that year tradin debit spreads.
The only advantage I got heeding Fontanils initially that after loosing through his advisory I mentaly undertook learning Options as a challenge .
The real option learning comes from some simple ,classic books and practicing on the sell side . Buy side you will be a looser .
So read Macmillan ,Sheldon Natenberg-Option pricing and Volatility, Paul Forchione-Trading Options Visually, Dr.Anand's classic -Automatic Option profits(Ino.com).
Subscribe OptionVue system .
Hope this helps.
Pauri
OK I thought if he can double his money every 3 months ,I subscribed for a full year his option spread advisory . Result I lost 25K that year tradin debit spreads.
The only advantage I got heeding Fontanils initially that after loosing through his advisory I mentaly undertook learning Options as a challenge .
The real option learning comes from some simple ,classic books and practicing on the sell side . Buy side you will be a looser .
So read Macmillan ,Sheldon Natenberg-Option pricing and Volatility, Paul Forchione-Trading Options Visually, Dr.Anand's classic -Automatic Option profits(Ino.com).
Subscribe OptionVue system .
Hope this helps.
Pauri
Hah. I went to the initial optionetics seminar recently on a whim one afternoon. It is somewhat respectable but does not give the full picture of options trading. Check out the resulting email correspondence I had with one of their representatives after they tried to sell me their course after the fact. Enjoy:
Elaine,
Thank you for getting in touch with me. Please do not send your materials to
the address on the card. I am not interested. I am already an options trader
and am well aware of all the possible strategies associated with options. I
feel optionetics is a good introduction for some people but for most I think the
information could be found in any textbook. Furthermore I found many problems
with the presentation. Overall it seemed that the whole story was not being
told. You say you shoot for 3:1 reward to risk trades. That's great but if you
are losing on 4 out of 5 of those trades you have a negative expected value.
They didn't mention that. Also if you are shooting for these 300% returns why
are we supposed to be impressed by testimonials of 50% and 60%? Seems to me
someone would not be following the "system" if they were only capturing 1/6th of
the potential profit. Also these returns have nothing to do with the returns on
your account. There was no mention of position sizing or anything else. Lastly
I must commend Mr. Fontanills' undying compassion for the individual trader. He
has unselfishly spread his knowledge to the tune of $90,000,000 (30,000 reported
members * $3000). What a saint. I generally like your company and your
information. I think it is the most legitimate course out there for a beginning
trader but I feel it has a long way to go in terms of total transparency. As an
aside, if you are interested I would love to attend your seminar and catalog all
the questionable information being presented. Maybe an independent audit could
help your course gain credibility. Thank you for your time.
Chris
Elaine ****** wrote:
> Vince ***** asked that I contact you regarding the up-coming seminar. My
> name is Elaine ******. I am an Enrollment Counselor with Optionetics. My
> job is to answer any questions you may have. I am here to help you enroll
> in the upcoming seminar. I will honor the $1000 cash discount as mentioned
> by Vince at the workshop. Your cost is still $2,995.00. We will ship the
> materials at our cost. Call me to verify the correct shipping address. If
> I can assist you in any way let me know.
>
> You can reach me at 1-800-***-*****.
> Sincerely,
> Elaine ******
Elaine,
Thank you for getting in touch with me. Please do not send your materials to
the address on the card. I am not interested. I am already an options trader
and am well aware of all the possible strategies associated with options. I
feel optionetics is a good introduction for some people but for most I think the
information could be found in any textbook. Furthermore I found many problems
with the presentation. Overall it seemed that the whole story was not being
told. You say you shoot for 3:1 reward to risk trades. That's great but if you
are losing on 4 out of 5 of those trades you have a negative expected value.
They didn't mention that. Also if you are shooting for these 300% returns why
are we supposed to be impressed by testimonials of 50% and 60%? Seems to me
someone would not be following the "system" if they were only capturing 1/6th of
the potential profit. Also these returns have nothing to do with the returns on
your account. There was no mention of position sizing or anything else. Lastly
I must commend Mr. Fontanills' undying compassion for the individual trader. He
has unselfishly spread his knowledge to the tune of $90,000,000 (30,000 reported
members * $3000). What a saint. I generally like your company and your
information. I think it is the most legitimate course out there for a beginning
trader but I feel it has a long way to go in terms of total transparency. As an
aside, if you are interested I would love to attend your seminar and catalog all
the questionable information being presented. Maybe an independent audit could
help your course gain credibility. Thank you for your time.
Chris
Elaine ****** wrote:
> Vince ***** asked that I contact you regarding the up-coming seminar. My
> name is Elaine ******. I am an Enrollment Counselor with Optionetics. My
> job is to answer any questions you may have. I am here to help you enroll
> in the upcoming seminar. I will honor the $1000 cash discount as mentioned
> by Vince at the workshop. Your cost is still $2,995.00. We will ship the
> materials at our cost. Call me to verify the correct shipping address. If
> I can assist you in any way let me know.
>
> You can reach me at 1-800-***-*****.
> Sincerely,
> Elaine ******
