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Optionetics Free Seminar in Singapore
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summersnow
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25-Feb-2010 13:08
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Investors may see advertisement by a company called Optionetics offering free 2 hour seminar on options trading in March 10. I just wanted to offer my view as to what one can expect from this seminar and this company. I am a student of Optionetics. Therefore, I do speak from personal experience. First of all, if you expect that you will learn how to trade options from this "free 2 hour seminar", then you'll be wasting your time. In this 2 hour, you will be bombarded by sales pitch after sales pitch. You'll hear how the speaker himself and several people on the video made the right choice by investing money in education through Optionetics such that they can now live a dream life with freedom to do whatever they want while earning money on the side through options trading. Then you will be offered a no-risk free trial of their program, which you are guaranteed to generate more money in 6 months than what you pay them for the education, which is close to $5K. I paid less than $4K because there is a scheme that offers discount if you sign up together with another person. You can google the web to see many more comments on their risk-free return policy. Then during the actual class, which takes place in Singapore every 3 months, you are getting educated on how to trade options. I would say the quality of the instructors from the US is actually pretty good. However, you will also realize that the course that you paid few K$ isn't enough. This wasn't made clear during the "free seminar". There are many more classes to take - ICT, Master ICT, ITT, plus there are software that must be purchased in order to trade the way they teach. All in all, expect to invest >$15K to $20K. So.... let me say this. Is Optionetics a fraud? No - I won't say that. Fraud would be way too serious. I would say that they oversell. They oversell how easy it is to earn from options. They underplay the cost and they underplay the discipline and time you need to invest in. They did not explain how difficult it is and how much efforts need to be put in to succeed. Why? Otherwise, they will recruit far fewer students than they are now. Don't get me wrong - I'm not complaining because I failed in Options. The opposite is true. I'm now trading options full time and I'm very happy with my performance. To the contrary, I would actually say Optionetics gave me a good starting point. It pushed me over the hump. However, I didn't pursue the advance class through them because they are way too expensive for what they offer. What I'm saying is that to be successful in options trading, you have to approach it like a craft and like a business. If you want to be a pilot, you go to aviation school and spend thousands of hours learning and practicing. That's exactly what you'd need to do in options. The objective of this post is not to slam Optionetics but to put some perspective against what you'll hear in the 2 hour free class and allow readers to go into their program with a balanced view. I still go to Optionetics classes every 3 months. I enjoy the community of traders there. However, I just feel that the way they presented in the 2 hour free class is misleading. I just hope Optionetics will change their marketing tactic and focus on running a good education program instead. |
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