Optionetics: Good or Bad ?

I too went to the vegas trading expo and was not very impressed with the quality of vendors there. I was impress though by Traders International. They had there main guy trading right on the floor and making money. He was trading the emini S&P. Made several thousands from the short time I was there. Was amazed that a company would put there reputation on the line live for anyone and everyone to see. I to can learn to trade like him though for the sum of 4500 dollars. Tough choice for me since I am not a wealthy person. I work here in vegas and the idea of waking up to trade the emini in the morning hours hits the right button there but I know it isn't as easy as they make it out to be. I find it hard to believe that all companies out there are scammers. Do you really think that the owner of Wizetrade goes to sleep at night thinking of all the people he "scammed"? I have read a lot of books and really found very little value in any of them. I never heard of the success story from someone saying they read a book they picked up at the library and now I am worth millions. All I am really looking for is someone, or some company that can teach me how to trade successfully. Is it really that hard to find a quality person or company that really can and really do make money for there customers. I daytraded a little back in the great days of 97 but I never had any real teacher.

I have thought about it though long and hard and feel I am leaning towards two options. Finding out more about Traders International and trading the Emini..... Ideally this would be the one I prefer or going Prop and signing with Bright Trading. If someone has more info about traders international and would like to reply here or pm me about them, i would love to see what you have to say. I appreciate all the people that are trying to give me direction on where to go.
 
since you are in vegas give bright a try. half the value of learning at a prop firm is the mentorship from successful traders you will receive.



Quote from relevance:

I too went to the vegas trading expo and was not very impressed with the quality of vendors there. I was impress though by Traders International. They had there main guy trading right on the floor and making money. He was trading the emini S&P. Made several thousands from the short time I was there. Was amazed that a company would put there reputation on the line live for anyone and everyone to see. I to can learn to trade like him though for the sum of 4500 dollars. Tough choice for me since I am not a wealthy person. I work here in vegas and the idea of waking up to trade the emini in the morning hours hits the right button there but I know it isn't as easy as they make it out to be. I find it hard to believe that all companies out there are scammers. Do you really think that the owner of Wizetrade goes to sleep at night thinking of all the people he "scammed"? I have read a lot of books and really found very little value in any of them. I never heard of the success story from someone saying they read a book they picked up at the library and now I am worth millions. All I am really looking for is someone, or some company that can teach me how to trade successfully. Is it really that hard to find a quality person or company that really can and really do make money for there customers. I daytraded a little back in the great days of 97 but I never had any real teacher.

I have thought about it though long and hard and feel I am leaning towards two options. Finding out more about Traders International and trading the Emini..... Ideally this would be the one I prefer or going Prop and signing with Bright Trading. If someone has more info about traders international and would like to reply here or pm me about them, i would love to see what you have to say. I appreciate all the people that are trying to give me direction on where to go.
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jrlvnv,

The education process is not cheap.
In all, I probably have spent close to $6000 in seminar fees, software, books, DVDS. Each trader has to develop his "own" style. One thing I noticed in the Las Vegas Expo is the inherent differences in the way the different traders use the indicators and how they apply them. There is no right or wrong answer. If it works, why not use it? If they hold a "free" preview seminar by Investools----go to it!!! At the very least, you will have an idea of the wealth of information out there. If you are going to be trading, you have to assume that the other traders has the tools to trade against you----to assume otherwise is fatal!!!
For books, I would suggest George Fontanills, The Options Course, 2nd Edition if you wish to trade options. If you want to swing trade, get Oliver Velez's books and DVDs. At the very least, it will cost you less in terms of trading mistakes and start a trading journal so that, even if you make mistakes----you can learn from them.
 
DO NOT pay 3 thousand dollars for his 26 different options strategies!
I have something like it and it isn't worth 3 grand!

I was considering redoing the info on them and then burning CD's and handing them out so people wouldn't get doked by the charlatins of the stock market taking advantage of people like us who sincerely want to know this stuff. The strategies are quite real though as they do work.

The more I think about it the more I still like the idea of doing it...

Bob
 
It has been about a year now, it all started when i took a mc job at investors business daily i would just sell investing tools over the phone i did it for about a year very little money but the only reason i stayed was because i coul learn a great deal about the market in addition to attend all their seminars for free.

IBD has one day seminar that is $ 3000 and a 2 day seminar that is $ 8000. Is it woth the money ? Yes and no it is only up to you.

Do you want to quit your job ? Do you want to really learn it ? How much do you really want it ? How much time are you willing to put into this ? If this is all you want to and you believe that you can do it then yes it is worth it 100%

I laugh when people say that there is no 2 day seminars worth $ 3000 because if you do invest and if you do want to do this for a living, know that a bad choice in the market is waaay more expensive than $ 3000. My bad choice in the market costed me about $ 35.000 in five days.

So I stayed at IBD for a while and finally I left having an idea about what I am trying to do in the market, probelm is that I wanted to do it with options but I didn't know how.

I spent $ 3000 for optionetics. I KNOW it is overpriced, but i needed a starting point, I KNOW that most of the stuff in the seminar is already in the book but there is NO WAY i can be able to LEARN and EXECUTE strategies out of books and by reading free websites over the net.

I want someone i can talk with, ask questions to, and when analyzing a graph i want to ask them...what is that you are looking at ? I want to talk face to face with someone who is already doing what I am trying to do.

Any job is like this you want to look closely at someone who is already doing what you do whatever you want to be a surgeon, a photohrapher a salesman. The only job I can do perfectly right off the bat is to sweep the floor. I just rather be trading in my underwear than being a carpener or having a mc job. When it is monday i am not waiting fro friday i am happy that is monday and i am excited about it.

If I want to be a trader though I need a starting point unfortunately to have acess to pro traders is expensive it is just how it is. Of course if you take this seriously if you wanna be a sunday trader then nothing matter. Everything is a scam and you are so smart that you'll figure it out by yourself but in the end the question is always the same, how much did you make ? Are you consistent ? Did you quit your job if you wanted to ? Is your financial freedom close or far away ?
I also took a one day option class with CBOE $ 500, so what ? It is just the way it is.

I know this is all I want to do I know that I am not going to give up. When I started trading I had a big loss however I closed the year even. The only reason I was able to make the money I lost in just 5 days back was because I LEARNED something and now I have a better approach for my trading. Once I get better I do believe that all those classes are gonna be free.

Trading is not for everyone and nothing that has to do with money is easy, but if i can really learn something that helps me and i can use for the rest of my life $ 3000 is a pittance !

Optionetics is just like your pc or an ice cream it is good or bad according to the use you make of it but...

some people say that for education you pay once or twice or some more, but for ignorance you'll pay forever

good luck with your trading
 
I cannot agree more. If you keep making mistakes costing you thousands of dollars----$3000 is a pittance.
That said, I feel that having attended all these seminars, some paid and some free that you can only learn more.
In any endeavor, you only get what you put into it!!! If you are really determined and work very hard at it----you can probably be a good enough trader to make money. Maybe, not enough to make a $1,000,000 but, is $100,000 a year or even $50,000 a year good enough?
That is my target if I do become proficient enough to take substantial chunks out of the market. The past year 2005 was not bad. Despite, all my mistakes----I still made $5,000 on only 24 option trades. A pittance but, I feel that if I keep at it----I can certainly do better!!!
 
guy990opl,

Although I agree with you regarding the need to get yourself educated and that you need to start somewhere and so on, I think, the main idea that is running thoughout this thread is that Optionetics offers very little in terms of value for money. In other words, relative to what it offers it is grossly overpriced!

You wanna start learning about options then try Option Planet/Red Option, they run free beginner courses and advanced courses for only $199 and not $3-4K and, unlike at Optionetics courses where they try to sell you software, which according to them is vital yet it costs another 1-3K each, Option Planet doesn't sell anything (well, they do make use of Thinkorswim software, but you neither have to open an account with Thinkorswim to take advantage of the knowledge gained at the seminar nor pay for the software if you do decide to go with Thinkorswim).

Have a look at Optionetics discussion boards and you'll find that they're filled with software selling and a lot of people make reference to the fact that there's a lot of selling going on in the seminars at the expense of actual education.
 
Majority of these seminars or software you see in informercials is "no good".
Avoid Wizetrade, 4X Made Easy, 5 Star Trading (this one is similar but, a poor imitation of Investools). My friend and I shared Wizetrade, she paid for 4X Made Easy and these software are no good!!!
5 Star Trading probably has some value for the information on its website but, at $8,000? I know because I attended these seminars!!! Having been attending seminars, reading lots of books and watching DVDs since, April 2005. I am still studying as I "really" want to be a good trader.
The only one I found useful is Investools which is a website full of information. Seminar cost around $3200. I paid half with my friend and spent $1600. First six months of using website is "free". Paid $595.00 for my yearly renewal about 2 months ago. I don't work for that company let me make that clear but, I feel their product which is the website useful in terms to trading, stocks, etfs, mutual funds, options.
Can you compile all the data they have on their website? You can try to replicate it by combing thru the internet for all the data you need but, probably will have a hard time doing so----I know I tried. The initial cost is huge but, the monthly is $50.00 which I believe is worth it considering the information you are getting. One other thing, they don't allow you to subscribe without attending the seminar. They do have a preview seminar and I would suggest to anyone seeking to improve their investing skills to attend it----it is "free" and you will see what you will get from the Investools website.
 
optionsxpress has a good virtual trade tool, isn't it just easier to read the strategies for free and try and perfect them on there.
p.s i charge $3000 for this information
 
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