Expect in one hand ...crap in the other ....see which fills
I've been involved with the stock market since around 1995 and moved away from mutual funds several years ago to self direct my investing
Newly retired, I decided I would invest some time and effort to learn about options and dedicated 5% of my holdings to an account to facilitate the process.
Professionally, I earned a CPA and hold an MBA...so learning complex subjects is something I have been comfortable with.
I've read numerous books on investing by William O'Neill, Jim Cramer, Edwin LeFevre, Peter Lynch, Michael Covel, Guy Cohen
I regularly watch Options Action and have been following the Najarians on CNBC for years. I have a lot respect for their expertise and knowledge.
Several months ago .....After ordering their book "How we trade options" ...I received an aggressive marketing call and let myself get sucked in to a year's access to Option Monster education for approximately $8,000.
My purchase includes 21 phone sessions along with a link to prerecorded webinars with Ron Ianeri.
I declined the opportunity to spend an additional $7,000 for the chance to spend several days on the floor of an exchange personally trading with John and or Pete.
I opened a test account with TradeMonster anticipating that the instruction would be Trade Monster specific and might enhance my learning process.
After several months of webinars and weekly phone calls with my mentor , I suspended the process and went in a different direction.
The webinars were ok in terms of explaining the mechanics of puts and calls as well as advanced subjects like verticals, calendars, condors, butterflies and the greeks .
I found Ron Ianeri's manner in the webexes to be arrogant and offputting. While he does seem to know his stuff, my eyes glazed over as I listened to a voice which channeled a curious blend of Curly ( 3 Stooges) and Sgt Carter ( Gomer Pyle). One particular webinar lesson had a ridiculous 5-10 minute lapse while Mr Ianeri answered his doorbell and attended to a neighbor's problem. o
For $8,000, I expected to learn more than mechanics...perhaps some nuance and strategy in terms of optimal strike selection, options expiration, repairing bad trades, managing gains, exiting positions....some things that would improve my understanding and help me increase chances for profitable trades
In 20 years as a Schwab customer, every contact I ever made .......left no doubt that they appreciated my business. After 3 months with TradeMonster, I pulled my newly deposited funds because I generally felt I was disturbing the Customer Service person on the other end of the phone . They weren't rude..... but they weren't overly patient.
My biggest lesson learned ......Save your money .....a simple internet search will yield many low cost resources that will take you further than optionMonster education
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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