OptionsANIMAL - are they any good

[traderjo]

All of the instructors are traders, risking their own money. The course, at $6500, gives you full access to all the classes (both live and archived), beginner and advanced forums where you can get questions answered, daily and weekly market analysis, monthly trading workshops and live real-money trades. There are various time-frames for this, but the basic $6500 course covers all of the above for 18-months.

The instructors are most certainly paid by the company for their time, since it is not a charity or non-profit organization. That said, I as a paying student I can say that they genuinely want their students to succeed (which makes sense, since their referrals and reputation are at stake). Rather than making judgements about motives, you might consider that $6500 is easily lost in one bad trade. I'm up about $7k using their methods in just a few months after completing the course (tuition has therefore paid for itself), and more importantly, I'm feeling much more in control of the trades I place (ie, understanding risk v. reward, how to hedge positions, the value of both technical and fundamental analysis, what moves markets, portfolio management, all the various options instruments and how they work, adjusting trades that move against you, etc.).

It's normal to be skeptical (I was, and I called previous students to check on the course before I signed up). But if trading is more than a passing hobby for you, $6500 is really a drop in the bucket for the amount of value it offers. Heck, 18 year old kids are paying $60k a year for educations that are likely to get them minimum wage jobs.

Find people who have taken the course, like Kathy and myself, and get their feedback. I have nothing to gain from sharing these thoughts -- I'm not paid by Options Animal -- I'm just a satisfied customer.

Ken

Heck, 18 year old kids are paying $60k a year for educations that are likely to get them minimum wage jobs.
Here we go .. comparing tin pot probably 5 room rented office company education to a full fledged and regulated University degree .
This is a famous defensive throw line put forward by all the "Believers" of such snake oil sales companies ...

 

[taowave]

Just out of curiousity,do the folks over at OA provide an audited track record of their trading??

 

[newwurldmn]

Just out of curiousity,do the folks over at OA provide an audited track record of their trading??

one of the shills in this thread should be able to answer this

 

[traderjo]

Just out of curiousity,do the folks over at OA provide an audited track record of their trading??

FAT chance

 

[Baddogs]

Yes Rob each to themselves ,, the only reason I asked the questions to you was on a open forum you claimed that this guy runs a fund! but you yourself have no idea if it is true or not!...
Your second point about expenditure on education and comparison to traditional education ( a proper degree in a UNi) this argument is always used by these education sellers a $3-6000 1-2 week 3 month course can't be compared to age old time tested Uni education.. C'mon Yes it is s true when one does spend thousands and years on a Engineering or Medical degree there is no guarantee that that student will succeed in life in those fields.. but we are talking about proper education not this tin pot "How to trade xyz get rich quick schemes" LOL
Once again all these Trading education sellers if they are so good they should have enough audited proof upfront about own trading and any public money management.
about licencing, when you build a house or a bridge I am sure everyone of us will insist on the design engineer being certified so why not a financial advisory? in USA these guys are lucky that the Trading education business is not regulated all you have to do is slap a disclaimer and start a business, suckers will get sucked in thinking they will make millions easily

I have reviewed Options Animals program and it looks fairly comprehensive, but I agree that $6,500 is an excessive amount. I am fairly new to options trading although I did use them 30 years ago, mostly to hedge against currency and interest rate fluctuations for the company I worked at. What books, sites or other references would you recommend to help someone get back into working with options?

Yes, you cannot learn trading from a book. Having a chat session and going over "positions, trade set-ups, adjustments and such. going over option chains and discussing them" will not teach you trading either. Both give you a good understanding of the fundamentals.

Nothing, and I repeat nothing, can simulate real money at risk and having to decide on the fly how to adjust a adjust/salvage/cut loose a position in a fast market. Learning how not to be the proverbial deer in the headlights can only be honed by being in the crosshairs.

As I stated in an earlier reply in this chain, their free 1 hour "Learn to Trade XYZ" webinars are long on sales pitch and short on full disclosure of content. They glossed over positional risk and only spoke about the win-win aspect of their tradeds. The presentation was better than a used car salesman trying to sell a clunker but not by a heck of a lot.

If you have $6,500 to burn, go for it. But as @sle said, there are some really sharp people on ET (not referring to myself) who can connect the dots for about any question posed. A coupla books and the knowledge base available here will get you rolling nicely and with the remaining $6,000+, you'll gain a lot of trading experience.

I have reviewed Options Animals program and it looks fairly comprehensive, but I agree that $6,500 is an excessive amount. I am fairly new to options trading although I did use them 30 years ago, mostly to hedge against currency and interest rate fluctuations for the company I worked at. What books, sites or other references would you recommend to help someone get back into working with options?