Actually I don't know any of those people, sorry. I must be thinking of a different company. I would echo what others have said, there is more then enough info out there for free if you are willing to put in the work. You don't need to pay for this stuff. What exactly are you looking for? To be honest, I think ET probably has covered everything under the sun on options. God knows I've written a few thousand posts on options.
OptionsANIMAL - are they any good
- Thread starter rocky_raccoon
- Start date
Actually I don't know any of those people, sorry. I must be thinking of a different company. I would echo what others have said, there is more then enough info out there for free if you are willing to put in the work. You don't need to pay for this stuff. What exactly are you looking for? To be honest, I think ET probably has covered everything under the sun on options. God knows I've written a few thousand posts on options.
After listening to their pitch in December I signed up in January 2016. The pitch had made it sound like a no brainer, saying that making 15% could be done with eyes closed. That was a bunch of BS. Their training program is provided in 8 steps, and it is strongly recommended that no real trades are done before completion. After six weeks of constantly doing the training I was not able to get past step 3. I asked the sales person that my money be returned on a prorated basis and he said that was not possible according to their policy and suggested that I stick with it. During the conversation with the sales person, I asked how long it took him to use OA and he told me that he got into it 2-3 years ago however he has ONLY done paper trading, that is, no real trades. 4 more weeks have gone by and I am still getting no where. I am retired and don't need the stress of learning this methodology, and then taking the risk with my well earned retirement funds. In the meantime, I have found other online sources that provide real trades with a very good success rate.
Thank you. You are providing a real service to us here with your experience. I will avoid these guys.
Thanks BobR. It sucks that you had to lose your money to scammers like these guys. I have recently donated some of my money to DayTradersGroup. They were providing entry and exit signals for potential intraday directional options play. Their service was nothing better than cointoss.
Do you want to share your good online resources if you found their trades are successful
I am in a trial basis with Money Map Express. Too soon to tell. I am a bit suspect though when I asked them for a summary of their moves for 2015. They said that I have to join to get that info. WTFO?? They do offer a 30 day money back guarentee.
Think about this: They sell their services or write a book or sell seminars because those are the only sure ways for them to make money. They don't need to do all of those if they can consistently make money with their method or knowledge.
My own trading experiences:
1. None of those services/books/seminars I tried worked consistently so I stopped following them.
2. As drcha said, the shorter the time frame, the greater the noise and uncertainty so I stopped day trades.
3. The more popular the method (e.g. sell high volume index puts) and the underlying (e.g. SPY), the more I was trading against the professionals who knew more than I, so I now avoided those.
4. Even though Black Scholes is flawed, it turns out to be a very useful tool for me to analyze what ifs because it is fast and simple.
5. Like OptionGuru said, it is a top down process. I selected my own underlying and traded based on my understanding of their directional. So far that worked the best for me.
One day I hope to become an expert like the rest here at ET trading volatility, gamma, vega, theta and complex combinations.
Good luck.
There's a lot of cynicism in this thread. Some inaccurate information.
I paid that figure and more. I tried relying on books for years. I spent way more money on books and other courses. This is the only course I've found in the last ten years that actually teaches. I tell my friends that they will pay for this education one way or another, and it's not cheap. It's dumb to expect it to be cheap. It's dumb to believe you can learn trading without a college-level effort. I'm patiently working my way through those 8 levels. I'm not complaining about the time required. These people are the real deal. I'm actually doing this. And their figure now for successes over more than 300 trades over about 5 years now is about 91%. Yes, a lot of those trades, but not most, did need adjustments. The skill in making those adjustments is what sets OptionsAnimal apart. You're also dumb if you set out thinking that you are going to be profitable 50% of the time. Very few of the best in the business can do that. If you're going to put your money at risk, wouldn't you like to know how to adjust trades that go against you? I don't know anybody else who teaches that.
It's not easy. You shouldn't expect it to be. It works. Put the effort in and you'll agree.
I paid that figure and more. I tried relying on books for years. I spent way more money on books and other courses. This is the only course I've found in the last ten years that actually teaches. I tell my friends that they will pay for this education one way or another, and it's not cheap. It's dumb to expect it to be cheap. It's dumb to believe you can learn trading without a college-level effort. I'm patiently working my way through those 8 levels. I'm not complaining about the time required. These people are the real deal. I'm actually doing this. And their figure now for successes over more than 300 trades over about 5 years now is about 91%. Yes, a lot of those trades, but not most, did need adjustments. The skill in making those adjustments is what sets OptionsAnimal apart. You're also dumb if you set out thinking that you are going to be profitable 50% of the time. Very few of the best in the business can do that. If you're going to put your money at risk, wouldn't you like to know how to adjust trades that go against you? I don't know anybody else who teaches that.
It's not easy. You shouldn't expect it to be. It works. Put the effort in and you'll agree.
Years ago I paid 10K for their education. It basically included a lifetime membership. They were called Spreadtrade Systems at the time. They adjust over half their trades. I also subscribed to weekly trades posted by the teachers. You get their monthly trades free. They provide a thorough education. I lost a great deal of money by not following their rule to not trade until the education was completed. I don't see anything crooked or wrong about what they are doing. The teachers are successful traders including the founder who has huge accounts. I have since acquired other education, but they gave me the basics. I had a break even year for the first time and would have done much better had I followed my own rules. Until one conquers the emotional side of trading, you won't be a winner. Options Animal also has free seminars around the country quarterly including Hawaii. They do everything possible to make certain you become a profitable trader. I do more non-directional trading now, which is basically buying and selling volatility. I still use them to review concepts and take classes over.
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Not my experience! In March 2015 I attended a Free Webinar from OptionsAnimal and learned a couple of adjustment strategies that were extremely useful in saving a few trades I was in. The adjustments helped me pay for my annual tuition in just a few months. Early in 2016 I attended the FREE Training Summit (they have several every year) and learned a ton from the coaches that presented and met dozens of students that were actively using their strategies. I also upgraded my membership to a lifetime at that event. I have gone through all eight levels of training, (I admit level 2, the Greeks were challenging to grasp at first), attended weekly coaching sessions (still attend three times a week) and am still learning from their highly skilled coaches who actively trade. I maintain a high six-figure trading account and feel like the insights presented are real-time, relevant and help me with my confidence in trading. I'm sorry BobR in this thread didn't have a great experience, but I'm not sure judging the process or the Company so harshly after dropping out after level 3 qualifies as an insightful perspective. It's like dropping out of University after year one because you didn't like Calculus and saying the University sucks. In fairness to BobR, it's not easy; it does take time and energy and an ongoing commitment to fully understand the material. However, the twenty-plus strategies along with their various adjustments will save you a lot of pain and anguish (and money) if you follow the process and provide for you for many years to come. If you are looking for a get rich approach to trading, this isn't it. If you are willing to learn, work and get rich slowly, you will be happy with your decision. Happy Trading!
of course, that means that they are REALLY GOOD, right?