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Option Smart does it again....
- Thread starter traderdon56
- Start date
I've used RedOption...they have a series of different advisories based on strategy. They are pretty good...and, from what I can tell, honest. I have no reason to doubt their track record...however, when commissions are factored in, on average they hover around break-even. Basically, they are good if you want to learn how to trade different stratgies, they respond quickly to questions...but you are not going to get rich, as you'd probably assume. But for $20 / mo, they are worth it...
I've followed the redoption service and subscribed to Larry McMillan's service for a while.
IMO redoption is good for education and they have honest track records but their actual trades are surprisingly weak for professional traders.
Does McMillan publish a track record? Haven't seen it.
If you want to trade spreads find a mentor or learn it on your own with small positions until you're profitable.
Optionsmart? Never subscribed, but their published track record looked suspicious from the beginning. If you've lost money following them based on misleading information why not report them to the appropriate authorities? The sooner people like that get taken out of business the better.
IMO redoption is good for education and they have honest track records but their actual trades are surprisingly weak for professional traders.
Does McMillan publish a track record? Haven't seen it.
If you want to trade spreads find a mentor or learn it on your own with small positions until you're profitable.
Optionsmart? Never subscribed, but their published track record looked suspicious from the beginning. If you've lost money following them based on misleading information why not report them to the appropriate authorities? The sooner people like that get taken out of business the better.
Don't know optionstation. Thinkorswim is great, free and does most of the stuff you will probably need for spreads. If you're just starting go to some of the redoption seminars and learn how to set up the trades. The toughest part is position management which I haven't seen them teach and I'd recommend finding a mentor for that.
Optionvue is useful too, but overpriced for the additional functionality IMO.
There are some other cheaper tools out there that are supposedly good also. You can probably google them.
Optionvue is useful too, but overpriced for the additional functionality IMO.
There are some other cheaper tools out there that are supposedly good also. You can probably google them.
Quote from blackchip:
Don't know optionstation. Thinkorswim is great, free and does most of the stuff you will probably need for spreads. If you're just starting go to some of the redoption seminars and learn how to set up the trades. The toughest part is position management which I haven't seen them teach and I'd recommend finding a mentor for that.
RedOption/Option Planet has a Position Management course, although it's offered infrequently. I attended the course when it was offered in San Francisco and it gave me some good overview ideas.
Just checked their website and don't see them offering the basic classes now. Strange.
Is this the position management seminar you're talking about - Wealth Creation and Portfolio Management for Investors?
Is this the position management seminar you're talking about - Wealth Creation and Portfolio Management for Investors?
Quote from MikeN:
Quote from blackchip:
Don't know optionstation. Thinkorswim is great, free and does most of the stuff you will probably need for spreads. If you're just starting go to some of the redoption seminars and learn how to set up the trades. The toughest part is position management which I haven't seen them teach and I'd recommend finding a mentor for that.
RedOption/Option Planet has a Position Management course, although it's offered infrequently. I attended the course when it was offered in San Francisco and it gave me some good overview ideas.
Quote from blackchip:
Just checked their website and don't see them offering the basic classes now. Strange.
Is this the position management seminar you're talking about - Wealth Creation and Portfolio Management for Investors?
No, go to the OptionPlanet web site and the "Position and Portfolio Management" course is listed. They also talk a bit about position management at the "Asset management" course. I attended that one, too, and there was a bit of overlap between the two. The best part of these two classes was the ability to ask questions geared to my specific issues--I learn a lot better with practical examples and the instructor laced the presentations with practical examples.
I've read some old threads on optionsmart that werent very favorable. Ive tracked this for a while, (years) but never tried it. Just wondering if anyone is using it, with the autotrade piece, and what your experience has been. Wondering if anyone has a real return tracked, with fees, commissions etc over time. Thanks for the info.