Super Simple Spreads Course

[2Veasnar]

Hello all traders,
Have you heard of the super simple spreads course by John Locke? It was released in 2015. I'm not promoting the product, but I want to have a feedback if you bought the product. Here what it claimed to be, "Now there's a 100% systematic way for part time option traders to trade high probability spreads that actually have a high probability of success... WITHOUT taking excessive risk."



Any inputs would be appreciated.

 

[Stymie]

High success does not mean high profits. They have a few large losses that wipe out all the gains. If you ask them them about extreme market moves, they will tell you that noone can predict them and you just have to accept them as part of trading. They will tell you to accept these large losses as an event which can't be predicted and yet they wont tell you what the impact will be on your profit and loss when these rare events happen. They will tell you that you keep your positions small so you don't get hurt but they don't tell you that your small position at entry becomes a large position when the market goes against you and your out of the money options go in the money.

When they promote spread trades, they are suggesting that you avoid these large loss events because you have limited loss. What they don't tell you is that the commission costs and the bid-ask wide spreads plus difficulty in execution inevitably prevents any potential profits for you.

The broker who you pay commissions and the market making firm who pays the broker $1.50/contract to see your orders and take the other side when it's advantageous to do so love these traders.

 

[2Veasnar]

High success does not mean high profits. They have a few large losses that wipe out all the gains. If you ask them them about extreme market moves, they will tell you that noone can predict them and you just have to accept them as part of trading. They will tell you to accept these large losses as an event which can't be predicted and yet they wont tell you what the impact will be on your profit and loss when these rare events happen. They will tell you that you keep your positions small so you don't get hurt but they don't tell you that your small position at entry becomes a large position when the market goes against you and your out of the money options go in the money.

When they promote spread trades, they are suggesting that you avoid these large loss events because you have limited loss. What they don't tell you is that the commission costs and the bid-ask wide spreads plus difficulty in execution inevitably prevents any potential profits for you.

The broker who you pay commissions and the market making firm who pays the broker $1.50/contract to see your orders and take the other side when it's advantageous to do so love these traders.

Thanks for your valuable input, Stymie.