Traders Circle - Options Trading Course

[cashnet]

Hi,

I recently attended a free seminar for Traders Circle and it sounds interesting. I already have a portfolio of shares and wish to trade options as well however I have very little knowledge in the area.

Has anyone completed this course and found it useful? Or was it a waste of money?

Honest feedback would be most appreciated because the course is approximately $5000.

Yours sincerely,

Chris

[wayneL]

Quote: Originally Posted by cashnet Hi, I recently attended a free seminar for Traders Circle and it sounds interesting. I already have a portfolio of shares and wish to trade options as well however I have very little knowledge in the area. Has anyone completed this course and found it useful? Or was it a waste of money? Honest feedback would be most appreciated because the course is approximately $5000. Yours sincerely, Chris

[DennisTheTrader]

Quote: Originally Posted by cashnet Hi, Honest feedback would be most appreciated because the course is approximately $5000. Chris

[kav]

I also went on one of these free seminars. Has anyone done the course and been rewarded? They state an 80% success rate.

I currently buy shares but have an interest in options but no time to trade on my own. Can anyone suggest another strategy if this course isn't beneficial?

[mazzatelli1000]

Quote: Originally Posted by kav I also went on one of these free seminars. Has anyone done the course and been rewarded? They state an 80% success rate. I currently buy shares but have an interest in options but no time to trade on my own. Can anyone suggest another strategy if this course isn't beneficial?

[mazzatelli1000]

Ah I have just run into some folk who participate in this
I have also concluded that there is an ASF member mentored by this group.

They all sound the same: know it all, very stubborn. Pity since these people have been swayed and only want to learn some genuine material.

Funny how the testimonials for these sorts of groups always have people who have hardly/never traded or have just begun the course sing the praises. Very similar to TI

Apparently they have ex fund managers in-charge of this operation.

On their testimonials page, there are two gentleman who claim they can make $30k a month with an "ordinary" bank account. I know traders who can pull these sorts of returns - but they are absolute guns and operate in the HF industry, and their bank is not ordinary [I am assuming ordinary = $100k or less which is quite generous]

Beware and DYOR!!

[wayneL]

Quote: Originally Posted by mazzatelli1000 Ah I have just run into some folk who participate in this I have also concluded that there is an ASF member mentored by this group. They all sound the same: know it all, very stubborn. Pity since these people have been swayed and only want to learn some genuine material. Funny how the testimonials for these sorts of groups always have people who have hardly/never traded or have just begun the course sing the praises. Very similar to TI Apparently they have ex fund managers in-charge of this operation. On their testimonials page, there are two gentleman who claim they can make $30k a month with an "ordinary" bank account. I know traders who can pull these sorts of returns - but they are absolute guns and operate in the HF industry, and their bank is not ordinary [I am assuming ordinary = $100k or less which is quite generous] Beware and DYOR!!

[cutz]

Geez,

You guys have got me wondering who it is.

[Timmy]

(do I need to source this? .... thanks TH)

[cutz]

Quote: Originally Posted by cutz Geez, You guys have got me wondering who it is.

[mazzatelli1000]

Quote: Originally Posted by wayneL Mazza, said trader has admitted to being "mentored" by TC on his blog. All I can say is "good luck", he'll need it. (of course, we're just jealous, trying to steal the dream etc)

[recession-proof]

Choice has just published an article about these free options seminars - including Traders Circle - check it out on the Choice website (it's a free article and you can add comments)

[Hannan]

Hi,

I am a beginner in trading and have started trading a little in stocks but am interested in finding out more about CFD's and Options. I have been to the free seminars with ASR and Traders Circle and am thinking of doing the 2 day workshop with Traders Circle which charged $997.

I would love some feedback on whether anyone knows if it's useful or has attended or if I could find the same information in books.

Any replies would be appreciated.

[cutz]

Quote: Originally Posted by Hannan I would love some feedback on whether anyone knows if it's useful or has attended or if I could find the same information in books.

[builder2818]

Don't waste your money going to any of these shonky seminars and joining their courses. You can get so much information for free online including all these courses you pay thousands for. I don't know if I am allowed to post on here, but I can tell you where to get heaps of stuff for free - more videos and books then you could ever handle. It's not going to make you any better of a trader. As someone said earlier...learn what you need to know then start practising.

Most stuff you see for sale for these outrageous prices is just rehashed garbage surrounded by clever marketing and false promises.

[brty]

Quote: They state an 80% success rate. Can anyone suggest another strategy if this course isn't beneficial?

[brty]

I forgot to add this bit.....



brty

[wayneL]

Quote: Originally Posted by brty How often does this come up?? People don't want to do the work for themselves. OK, here is a "system" that has an 80% success rate (defined as wins as a percentage of total trades), I will have to charge several thousand dollars or you wont believe me. Sell call and put options that are 2 standard deviations away from the current price that are 4-6 weeks until expiry. Simple, that will be thousands thanks... Risk??? Don't worry about it, it has a high win rate!!! brty

[mazzatelli]

Quote: Originally Posted by brty Don't worry about it, it has a high win rate!!! brty

[zipzap]

Agree, the 80% success rate they quote is the number of people they convert from the free seminar to the paid seminar. There are lots of good options sources. I don't know many successful options traders through, it's pretty hard on the Aussie market for the following reasons:

High spreads favour market makers who are VERY sophisticated traders and have spent a LOT of time, money and effort to setup their operation. These guys are guns, very experienced and take the opposite side to your orders. You are a price taker. It's a zero sum game and I reckon 90% of the profits go to brokers and market makers.

Often market makers pull the spread in very volatile markets meaning you cannot enter or close a position.

options will only profit is your view is correct.

High commissions, except with IB.

High complexity

Timing is all important

No matter what the strategy there is always a trade off.