Optionetics: Good or Bad ?
- Thread starter AlexJ
- Start date
IBD has many seminars the one i talked about before 2 days for $ 8000 doesn't make any sense for me, however if someone or you were or wanted to manage a 5 millions account by yourself, would you give it a try ?
No one should come here to make statements to tell you this is bad and that is good because they don't know who you are and what you want to do.
In my case I am trying to manage a $ 160.000 account I'll say it again $ 3000 is a pittance, if it makes me a better trader.
Their software is expesive too, but I just don't have the time and the will to look around in 10 different free websites for what I can find in one.
On the other side of the coin...
you might not care spending two days with William J O' Neal or George Fontanills and make money in the market.
I am from Europe and now I live in the USA, would you say that Europe is better than the Usa or the Usa is better ?
It is what you make of it.
If you didn't take the class because is too expensive, or even if you did try and it didn't work for you, doesn't mean that I'll have the same result. I took the class and so far it is the best thing I have ever done to learn more about options.
Did I make money? No, but I made back what I lost $ 35.000, and considering that I just started to close even after my first year was good enough for me.
When you have people writing that "There are no (none, zero, 0) weekend courses that are worth $3,000. " in my opinion they are miserable idiots.
Do they trade ? Are they making money ? Untill those people can show their broker account. Those people like you and I, are on a message board writing nothing more that they personal opinion.
Optionetics is bad ? For you. Expensive ? For you, but not for me.
Regardless of what I think of what you think and he thinks, all opinons, the fact is that any company that let you cancel what they sell if you are not happy says that they are confident about what they offer.
I wanna trade I wanna learn I also know that nothing of value is free and I have no (none, zero, 0) problem in trying out products that I can cancel.
That doesn't make it "good" or "bad", only you can decide what works for you.
No one should come here to make statements to tell you this is bad and that is good because they don't know who you are and what you want to do.
In my case I am trying to manage a $ 160.000 account I'll say it again $ 3000 is a pittance, if it makes me a better trader.
Their software is expesive too, but I just don't have the time and the will to look around in 10 different free websites for what I can find in one.
On the other side of the coin...
you might not care spending two days with William J O' Neal or George Fontanills and make money in the market.
I am from Europe and now I live in the USA, would you say that Europe is better than the Usa or the Usa is better ?
It is what you make of it.
If you didn't take the class because is too expensive, or even if you did try and it didn't work for you, doesn't mean that I'll have the same result. I took the class and so far it is the best thing I have ever done to learn more about options.
Did I make money? No, but I made back what I lost $ 35.000, and considering that I just started to close even after my first year was good enough for me.
When you have people writing that "There are no (none, zero, 0) weekend courses that are worth $3,000. " in my opinion they are miserable idiots.
Do they trade ? Are they making money ? Untill those people can show their broker account. Those people like you and I, are on a message board writing nothing more that they personal opinion.
Optionetics is bad ? For you. Expensive ? For you, but not for me.
Regardless of what I think of what you think and he thinks, all opinons, the fact is that any company that let you cancel what they sell if you are not happy says that they are confident about what they offer.
I wanna trade I wanna learn I also know that nothing of value is free and I have no (none, zero, 0) problem in trying out products that I can cancel.
That doesn't make it "good" or "bad", only you can decide what works for you.
The original post stated:
Quote from AlexJ:
Have there been any recent discussions concerning Optionetics courses and/or George Fontanillis ??
In 2002 there were some venomous posts
http://www.elitetrader.com/vb/printthread.php?threadid=7859
Have they cleaned up their act? Is the course worth $3,000 ?
Any info would be appreciated - am a real newbie and their info sounded interesting, but trying to do my due diligence.
Thanks.
So, what's wrong with us offering our opinions?
Riskarb,
How did you get started in trading? Did you learn everything by just reading books, trying things out? You did not go to a single seminar or pay someone to teach you to trade? If so, you are probably one of the talented few.
Even before I started trading, I thought I knew enough to start trading having read all those books and trying to figure things out for myself. Only thing is that it did not work out that way!!! Most books advise you to "buy and hold" which is what probably hurt most investors including me.
Also, there are a lot of ways to misinterpret what they are trying to tell you in books.
Now, having attended a bunch of seminars, read books again but, with an emphasis on trading alone (no more buy and hold BS) and viewed DVDs, I feel I am better prepared. I have atleast, some understanding of some of the indicators as well as how to read charts. My only regret is that I did not know what I know now before the market crash of 2000----I could have spared myself those huge losses adhering to buy and hold instead of having gotten out sooner.
On the plus side, I am better prepared
now and understand what happened and why I must not allow it to happen.
The question still remains, if you need to learn how to trade----who is going to teach you without you having to pay for it?
How did you get started in trading? Did you learn everything by just reading books, trying things out? You did not go to a single seminar or pay someone to teach you to trade? If so, you are probably one of the talented few.
Even before I started trading, I thought I knew enough to start trading having read all those books and trying to figure things out for myself. Only thing is that it did not work out that way!!! Most books advise you to "buy and hold" which is what probably hurt most investors including me.
Also, there are a lot of ways to misinterpret what they are trying to tell you in books.
Now, having attended a bunch of seminars, read books again but, with an emphasis on trading alone (no more buy and hold BS) and viewed DVDs, I feel I am better prepared. I have atleast, some understanding of some of the indicators as well as how to read charts. My only regret is that I did not know what I know now before the market crash of 2000----I could have spared myself those huge losses adhering to buy and hold instead of having gotten out sooner.
On the plus side, I am better prepared
now and understand what happened and why I must not allow it to happen.
The question still remains, if you need to learn how to trade----who is going to teach you without you having to pay for it?
Actually, there is a way. Get a mentor. Really, Im not being optimistic or think in theory. This worked for me. That's how I first started. In fact that's how I first even thought of, or wanted to, become a trader. It's because I met an experienced trader, and got to know him as a friend. Then he started talking about his life, his job (trading) and went into further details. One thing led to the other, and he thought me express TA and express Options. Plus virtual trading with OX.
That time I opened my account with OX and traded virtually, using a credit spread on SPX. I analyzed the chart using free website like Bigcharts.com.
That's how I first started.
He was and still is, a great mentor with great mind.
Wanna know how I met him? Well, you cant meet traders on some random place, right? I met him on a seminar preview. Hahaha.......
I believe for a beginner it's very useful to have a mentor. It's much better than books. Books still supplement of course.
And from what I know, usually successful people, including successful traders, like to give back to society. They like to take a positive role, to be a mentor, to teach and help, to take somebody under his wings. That's why guys, don't think it's difficult or impossible to find a good mentor. Actually the better they are, the more likely they are to want to be a mentor to someone.
Just a point.......find a mentor......
Li Ka Shing,
That is my situation now. I am the one doing the mentoring to my friend about
trading options. I cannot abandon my friend who has lost a lot in the market in 2005. So, I study and trade and do a bit of mentoring too!!!
On the plus side, I was in the black in 2005 with a positive $5700.00. A pittance but, I have a lot of trading mistakes which I am working on now to minimize.
I agree that mentoring probably is the way to go. For me, it is self-study now including reading books, watching DVDs and analyzing stock charts to learn from them. I am learning new things everyday and enjoying it too so, I am not complaining. Good luck to your trading!!!
That is my situation now. I am the one doing the mentoring to my friend about
trading options. I cannot abandon my friend who has lost a lot in the market in 2005. So, I study and trade and do a bit of mentoring too!!!
On the plus side, I was in the black in 2005 with a positive $5700.00. A pittance but, I have a lot of trading mistakes which I am working on now to minimize.
I agree that mentoring probably is the way to go. For me, it is self-study now including reading books, watching DVDs and analyzing stock charts to learn from them. I am learning new things everyday and enjoying it too so, I am not complaining. Good luck to your trading!!!