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Traders Circle - Options Trading Course

Discussion in 'Trading/Investing Resources' started by cashnet, Jul 29, 2008.

  1. cashnet

    cashnet

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    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 :banghead:
     
  2. wayneL

    wayneL Rotaredom

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    Option seminars are just fantastic, especially those expensive ones. They will most certainly make a big difference...




















    .... to the lives of the bandits running them.

    Go to ASF bookshop (link on the homepage) and buy for $100 or so, this book ==>> Options as a Strategic Investment by Lawrence McMillan.

    It will keep you quiet for a while and you'll actually learn about options.
     
  3. DennisTheTrader

    DennisTheTrader Regards

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    Plenty of free resources on the net. I'd definitely go with that first.

    Since you mentioned you already own shares, do a search for "option covered calls" and read up on that strategy. Its relatively simple to learn and apply if it interests you.
     
  4. kav

    kav

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    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?
     
  5. mazzatelli1000

    mazzatelli1000

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    Why do people always keep asking these questions without doing their own research on this forum? This question has been raised many many many times and answered.

    No the seminar will not help you!!

    For books and resources to look at before trading options, sift through this thread
    https://www.aussiestockforums.com/forums/showthread.php?t=12649

    After gaining a solid foundation of options, then paper trade, back test strategies and live test with very little money.

    Good luck
     
  6. mazzatelli1000

    mazzatelli1000

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    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!! :eek:
     
  7. wayneL

    wayneL Rotaredom

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    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) :cool:
     
  8. cutz

    cutz

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    Geez,

    You guys have got me wondering who it is.
     
  9. mazzatelli1000

    mazzatelli1000

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    Ahh was a good guess then. The folk I were speaking to described the exact same positions as that trader. I played dumb, lost the will to argue anymore.

    Of course we are jealous, what would we know? :( :cry:
     
  10. recession-proof

    recession-proof

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    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)
     
  11. Hannan

    Hannan

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    Traders Circle

    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.
     
  12. cutz

    cutz

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    Re: Traders Circle

    Hi,

    I've never attended a seminar so I can't offer any comments but suggest following the advice made by poster no 12.

    Go to the choice website, then from within the website search for the seminar/product in question,

    Some interesting reading indeed.
     
  13. builder2818

    builder2818

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    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.
     
  14. brty

    brty

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    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
     
  15. brty

    brty

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    I forgot to add this bit.....

    :banghead::rolleyes::banghead:

    brty
     
  16. wayneL

    wayneL Rotaredom

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    Exactly.

    They'll be pushing put spreads no doubt.

    Nooooobs fall for the high win rate without realizing it is irrelevant.
     
  17. mazzatelli

    mazzatelli

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    But wait...
    Don't listen to this loser - because there are special adjustment strategies and managing losses, which is shown on a step by step basis by the mentor.

    Furthermore, there are simple chart setups that will enhance the likelihood of the strikes not being touched.

    All this, by joining the one-on-one mentoring, where your trading plan will be developed and you have access to the mentor all the time.

    Why not spend a few grand, when the possibilities are limitless?
    ;):p:
     
  18. zipzap

    zipzap

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    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.
     
  19. Ardyne

    Ardyne

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    Q.How many single digit posters does it take to keep a thread going ? .

    A. Depends on how many are being paid to do so.

    Cant we just delete this long winded add?
     
  20. Grinder

    Grinder Don't feed the bear!

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    I second that.
     
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