Ok guys, I give up.You all win. I'll just keep on spending my money on further study/courses/reading/trading. So far it seems to be paying off. Good luck.
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Options Mentoring
- Thread starter hlpsg
- Start date
Come on IV, you're no fool and you know exactly what I meant. If you've never taken an options course then how would you know what has been taught? If you don't know what has been taught then how could you possibly offer any constructive/destructive commentary? You see the difference between me and the other posters on this board is that I've actually done the courses I comment on.
Yes, the optionetics is a basic course but a beginner has to start somewhere. Yes, Sheridan's is more of an intermediate course and yes, Cottle's is the most intellectually challenging. So, anyone enrolling in Cottle's? Or will you all continue recommending reading your textbooks over and over?
All I have left to say is that there is a lot of cheap advice on this board, worth every penny.
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My point was a course is not effective unless it teaches you options fundamentally since one cannot truly teach you to trade. The golf anaology still fits in general, even if you have good physical skills. The point is a pro in golf or trading or any endeavor cannot truly teach you what he sees or feels. But he can equip you with skills that you can learn to use within your own skill level and talents and abilities.
From my experience with Optionetic students, they do not learn options but simply are sold an approach with no foundation whatsoever and Mav and others can concur with their own experiences. They are getting cheated in a sense since they are being taught, for example, how to jump into a calendar spread or straddle before even teaching them moneyness, volatility and theta the proper way.
And I did purchase Diamonetrics and I have worked with Cottle on projects individually so I have a good background on what he teaches and I di think it is worth it for one important reason: His focus is to teach you options, teach position dissection and synthetics and adjustments. My first trade paid for it so I can say it was worth it.
He is not simply giving you tips and short cuts but truly is teaching you options and how to view them like a floor trader or market maker would. Still up to you to do the analysis and strategy dissection. Please do not misinterpret what I said. Most courses out there are not worth the money because they are focused on marketing get rich quick approaches or snappy strategies and not teaching options from the ground up. Cottle is one I think it is worth it but I will be honest and say they are pricey. But each person has to decide what they can afford.
I have no experiene with Sheridan so cannot comment.
But taking Optionetics, Sheridan and Cottle in my opinion is not worth it. I think you can get all of Optionetics teachings from Fontanills two option books for $60 and save the $2,500 or so. His two books are very detailed and from what I have heard, more detailed than his basic seminars.
Cottle's book is pretty detailed but in person he is a great teacher and teaches skills as opposed to simple strategies. He was not teaching me what a butterfly was but how to analyze FLYs and adjustments and synthetics. It is in his book but he is great to listen to and I have had the pleasure of talking with him at length over a meal or in social settings and he is good guy. Hopefully Sheridan does the same.
Far too late, I've done them. Remember I'm a retail guy who has a day time job and need someone to help me learn this stuff as efficiently as possible.
If I had to do it over again I would do them in the following order:
1. optionetics 2 day seminar as an introduction (~$3500) followed by
2. sheridan's mentoring (~$6000) and finally
3. cottle's (currently $6434) course.
total cost: $15934 or $12434 without optionetics.
Cheers
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That is insane. No one should spend that kind of money to learn what a call and a put is. All these courses can do is teach you the basics. The making money part has to come from you.
Check out this cool link: www.amazon.com
Lol. You think $15k is a lot of money for a business?
You're funny but I like you
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What would be much more helpful is for a retail trader(s) to comment on what course he/she has taken to become a successful options trader and over what time frame. Maybe Mav can get the ball rolling and tell us how he went from retail to pro without joining some firm or other and how long it took. I hope others can chime in and tell us of their successful journeys.
I'm listening.
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I'm listening.
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Ok I'll start.
First came across options 1999. Did local stock exchange options course (basic then advanced) for a few hundred $$'s. 2001 did optionetics seminar and 'practiced' (unsuccessfully) for a while. Went back and repeated the courses over subsequent years and more 'practice' (read losses). More reading/study/discussion boards, more practice. Finally getting better (read even). Something still missing. Trip to CBOE site and stumbled across sheridan's webinars. Helpful and trades becoming consistently profitable. Yet something still lacking but what? Over to cottle's, bought book then course (the whole enchilada) - hello dissection/synthetics. Very complex (and damn difficult to follow initially) but helping with understanding of options.
Now consistent profitability over past 9 months, not massive but around 20%.
Now signed up for sheridan.
The End.
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First came across options 1999. Did local stock exchange options course (basic then advanced) for a few hundred $$'s. 2001 did optionetics seminar and 'practiced' (unsuccessfully) for a while. Went back and repeated the courses over subsequent years and more 'practice' (read losses). More reading/study/discussion boards, more practice. Finally getting better (read even). Something still missing. Trip to CBOE site and stumbled across sheridan's webinars. Helpful and trades becoming consistently profitable. Yet something still lacking but what? Over to cottle's, bought book then course (the whole enchilada) - hello dissection/synthetics. Very complex (and damn difficult to follow initially) but helping with understanding of options.
Now consistent profitability over past 9 months, not massive but around 20%.
Now signed up for sheridan.
The End.
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Quote from daddy'sboy:
Lol. You think $15k is a lot of money for a business?
You're funny but I like you
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I agree with Maverick, 15K is way too much for the courses that don't really teach you a whole lot.
By the way, I've never attended any courses, well, except for the ones at college (economics & finance major). That's where I learned the theory of options. The rest is experience, books and discussion boards.
Ok, how long did it take to show consistency (profits, not lossesQuote from MTE:
I agree with Maverick, 15K is way too much for the courses that don't really teach you a whole lot.
By the way, I've never attended any courses, well, except for the ones at college (economics & finance major). That's where I learned the theory of options. The rest is experience, books and discussion boards.
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