Australian (ASX) Stock Market Forum

Option gurus

Joined
May 5, 2007
Posts
7
Reactions
0
Ever heard of these 'Gurus'?

I spent an hour or so on th 'Net' looking at some Option questions and came across 3 Options teachers that make big claims -
John Carter of Simpler Options
Ryan Jones of Quantum Charts
Doc Sevenson of Options MD

Has anybody had any first-hand dealings with so ? If so, pls comment
 
Joined
May 4, 2013
Posts
11
Reactions
0
Hi, I am Magda.

I have just joined ASF and I wasn't going to post for a while, but when I saw your question I felt I had to make a comment.

There are dozens, maybe hundreds of so-called "gurus" out there. One question always pops up in my mind: If they are so clever and found a good way of making lots of money from dealing in options, why do they have a need to "teach" their systems to thousands of gullible punters, charging a small fortune for information that can be readily obtained from books?

I think all these gurus represent on giant scam.

However, there is one sucker born every minute and until this changes those gurus will be able to scam the naive masses for millions of dollars.
 
Joined
Nov 24, 2009
Posts
3
Reactions
0
I think its a little presumptuous to label anyone who teaches options or anything else for that matter as "One giant scam" There are some great Options mentors and teachers of systems out there and I can testament to that. If you have ever come across a new way of doing something or have ever been successful at doing something generally you will find a natural urge to share your information with someone. You'll actually find if you take a positive/abundant outlook on life that many people have a genuine desire to teach and help people this is why they share their knowledge. Of course there are always people out there with the primary motive of talking your money however not all of them are like that, you just have to use your intelligence, do your own due diligence and find the good ones.

PM me if you are serious about learning options as I can put you on to a good one who isn't a giant scam ;)

PS, there are no "big claims" just common sense teaching and help to make you the Options Trader you can be.
 
Joined
Nov 2, 2010
Posts
16
Reactions
0
Like any industry, there are those who genuinely want to help others, and those just after another quick dollar.

Just look at personal trainers, financial planners etc - I am sure we are all aware of some excellent people in these professions and others we'd avoid at all costs.

I've attended one of these seminars hosted by a "guru". He was an Ex Merrill Lynch employee and showed off huge profits and talked about the little effort required to generate those profits - but the course he was selling was $2000...

Provided that you are looking for a guru, I am going to assume you are new to options. I suggest you go out and purchase "Option Volatility & Pricing" by Sheldon Natenberg. Its pretty much a bible for option traders. This book will cost you $50, read it, and decide if options are still for you. Those "gurus" will teach you the basics, but Nate's book will cover everything from basics to advance strategies (required for long term, successful option trading). If you start the book, get bored, then you've only lost $50. If you start a course with one of these gurus, get bored, or worse, learn nothing, well you've lost a lot more.

Just my 2 cents.
 
Joined
Mar 21, 2013
Posts
11
Reactions
0
I have listened to a few of John Carters free webinars.The latest was on tactics to defend a losing
spread trade.The guy comes across as sensible,knowledgeable and informative.Check out his site to
see if there are any more coming up.While there was mention at the end of buying one of his $300
discs,no real attempt was made to push it.I cannot understand why anyone would ever pay several
thousand dollars for a course.Several hundred dollars spent on the right books,(and many are available
somewhere free,if you look).80% of the rest is real time experience,and no book or course can ever
make up for that.
 

wayneL

Rotaredom
Joined
Jul 9, 2004
Posts
18,909
Reactions
2,742
80% of the rest is real time experience,and no book or course can ever
make up for that.
Seconded.

But I will say that getting the right theoretical knowledge will short track the process. So many struggle in the real world after having been indoctrinated with seminar clown nonsense.

Haven't heard Carter's angle on options, but agree he is sincere in giving good info. Others include (but not limited to) Charles Cottle, McMillan. Natenberg... and to save this forum being sued, I won't mention who to steer well clear of. :rolleyes:
 
Joined
May 15, 2013
Posts
47
Reactions
0
I don't where you are but I've always found it's better to look for a mentor than a guru. There is a clear difference! A mentor is someone who'll be available to you when you need them. Preferably face to face or video call. You tend to only be able to email or get a 30 minute intro phone call with a guru.

Unless you can eyeball them it might be less costly to avoid a guru and go along the much longer road of reading, testing and personal discovery!
 

wayneL

Rotaredom
Joined
Jul 9, 2004
Posts
18,909
Reactions
2,742
I don't where you are but I've always found it's better to look for a mentor than a guru. There is a clear difference! A mentor is someone who'll be available to you when you need them. Preferably face to face or video call. You tend to only be able to email or get a 30 minute intro phone call with a guru.

Unless you can eyeball them it might be less costly to avoid a guru and go along the much longer road of reading, testing and personal discovery!
I sort of agree. But with a mentor you are liable to be influensed by their biases as much as a the BS of some sort of guru.

I guess we must play the game of semantics and define "guru" and "mentor".

IMO they should be one in the same... guru and mentor. A true guru and mentor will encourage the pupil along the road of your comments I have highlighted above, and have the technical knowledge to guide along a path appropriate for the individual.

IOW, encouraging a discovery of an investment path appropriate for the individual, via acquiring a rich mental map of what is possible... and what isn't probable.
 
Joined
Apr 17, 2013
Posts
3
Reactions
0
Whenever I here someone saying they are a guru and charging $2000 or whatever I run very fast the other way. There are plenty of good books and free stuff online to learn from.
 
Joined
Nov 20, 2010
Posts
544
Reactions
2
The naked truth is that there is very little altruism in the investment universe. There is usually a profit motive behind everything, whether it's a book, subscription, seminar etc.

As for option trading mentors charging thousands for crash courses, a few may have a genuine passion for teaching but the fact is that it's a far more profitable use of their time conducting seminars than trading even if their trading strategies are profitable.

I have attended a few such courses years ago and I can confirm what's already been said here, theory is important as the foundation but there is no substitute for trading experience period.
 

Similar threads

Top