Options Advisory Services? Edge?

[Legacy Dad]

Quick question,

Does anyone have a reputable advisory service for options trading? I see a lot of hype and teaser ads but little track record. I'm looking for simple calls and puts nothing complex (no market-neutral strategy, time decay, etc.)


I keep hearing about Jarret Wollstein's Intelligent Options and also have looked at Jack Crooks and Red Option.

Does anyone have any opinions? Are these pure hype?

Lance


[FONT=Arial, Helvetica, sans-serif][/FONT]

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Edge]

Quick question,

Does anyone have a reputable advisory service for options trading? I see a lot of hype and teaser ads but little track record. I'm looking for simple calls and puts nothing complex (no market-neutral strategy, time decay, etc.)


I keep hearing about Jarret Wollstein's Intelligent Options and also have looked at Jack Crooks and Red Option.

Does anyone have any opinions? Are these pure hype?

Lance

Once upon a time I used to ask these same questions and the response that I kept getting was "learn to trade". I thought it was BS and there had to be an easier way. Well, it isn't BS and there is no better way. Some of the most popular advisory services have a legal rap sheet longer than their list of subscribers. Do you really want to take advise from someone that is really making more money off subscriptions than their own trading ability?

Having said that, and since you specifically asked about them, you can learn a lot from the Red Option service you mentioned above. I have learned a lot from the folks that run that site, they are affiliated with my broker Think-or-Swim. I also know, and they will tell you the same, their intention is to teach you to trade, not try to make you millions. They are more along the lines of spread trading like I do, not straight calls and puts like you have requested.

I've got a link to a guys website that claims to ranks all of these sites and their returns. I'll PM you if you want it, but I know there are a lot of people that will contest what he posts as verified results. I know a lot of these sites that do straight calls and puts give you a signal for an entry, not an exit. They base their published results on what the max gain could have been for that trade, and they all will clearly state that "individual results may vary".

So I guess I'm saying if you want to lean to trade delta defined strategies, red option is great. If you want someone that picks for you, I don't have any good recommendations. I do know you can go to Thinkorswim.com and you can see a long list of advisory services that even offer auto-trading. Good luck, but be careful.

 

[Skiboy]

I agree with Edge. Been using TOS for over a year now and loving it. Red option is a great service as well.

The only down fall I’ve seen it that investing still depends on you the investor. You can’t teach someone to ride a bike without them physically getting on it and doing it. Same holds true with trading.

Best part about think-or-swim is they hold classes every Wednesday after market close with guest speakers like Dan Sheridan, Tom Sosnoff and others.

Think-or-swim makes its money by you trading. The more sophisticated you are as a trader the more trades you’ll likely do and the more money they’ll make. So there is no sales pitch for classes, just a bunch of old school pit guys that truly love trading.

 

[tiredofworkin]

I agree with Edge. Been using TOS for over a year now and loving it. Red option is a great service as well.

The only down fall I’ve seen it that investing still depends on you the investor. You can’t teach someone to ride a bike without them physically getting on it and doing it. Same holds true with trading.

Best part about think-or-swim is they hold classes every Wednesday after market close with guest speakers like Dan Sheridan, Tom Sosnoff and others.

Think-or-swim makes its money by you trading. The more sophisticated you are as a trader the more trades you’ll likely do and the more money they’ll make. So there is no sales pitch for classes, just a bunch of old school pit guys that truly love trading.

I am with you guys, Think or swim is the only company I have seen that tries to help the individual small trader, all of them, the Think or swim people, (I think) are ex floor traders from CBOE and the like, so they know what they are talking about. ( Iwish I knew what they know).

Yes they make their money when you trade, thus that is why they teach us.

No I am not making tons on money in the market but I do have good months from time to time, and a not so good one as well. Maybe they will get me perfected yet.

If I could just come up with another 20% down, for another property.........

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Gaspar]

I like TD Ameritrade also. I am interested in "Paper Money Trading" against some other traders to test and vet strategies. Does any anyone know of such a group or are you interested in creating a competition?