Optionetics Reviews

Erwin   Dallas

It seems to be fairly mixed reviews. I just bought the home study course resale. I think that like in all things, remember, this is not the end all be all, and you have to moderate, pay attention, and judge for yourself what is worthwhile and what isn't. Somebody above said it perfectly: this is just for education... Self education. No guts, no glory! Lol

George   Phoenix

Was just at a workshop, found the sales presentation slick on the surface but very misleading if you paid attention and know something about trading. The video presentation was made in 2008. Why are they not able to update it with something more current?

The risks were greatly played down and the money made was greatly played up, however the profits they quoted were a total lie! Taxes were never mentioned, only vague references to broker fees.
There is a lot more to making money trading, options, stocks, etc... than just the apparent profit on a deal. Taxes on a deal can and will put you into the red very fast! Add brokerage fees and it is easy to have an apparently good deal go south fast!!

Overall I found them vague and deceitful at the presentation as to actual costs of trading versus possible returns. They are part of Schwab, yet they can mention what the fees will be??? Just how stupid do they think people are???

One more problem I had is while they showed a few examples of good returns on a few old trades, nothing current, there is no mention of the break even point or how much change in stock price it would take to make a contract pass from losing money to making money. With extreme price swings anyone can make a profit, but how far does one need to go to get to the break even point!

Overall, might be a reasonable product, but being late on their start time, refusing to answer any questions, until the end and it is only you and them, using a 4 year old video, (done in 2008) leads me to think all is not as good as it appears with them and their system, which they were marketing at only $995.00 if you signed right then.

Lots of bragging about Schwab having purchased the company, but no mention of how much Schwab is going to make from people funneled into using Schwab. Too many spotty things going on here to give me a warm fuzzy when it comes to signing up!

Bob   LV, USA

Instructor Nick Gazzolo harassed student in class, refused to answer student questions and made one student cry.

Bob   USA

They keep sending spam... multiple emails a week and numerous cookies.

Concerned Observer   usa

Optionetics got rid of all its bad employees and kept only the good employees. Now, what do we all know about good boys???? They don't have the mojo.

x   usa

All Optionetics all level coaching class DVDs are available online for a couple of 100 dollars!!!
Someone just put their ad under mine.

Have fun trading!!!

Anonymous   USA

Everytime I opened up Profit Source, their Problem Software, I had a problem for which I had to call Hubb, and it takes 3 hours to fix it and my entire morning is lost. The instructors swear by it. Only one guy in Hubb was able to fix all the problems I had.

Mr. X   USA

All Optionetics all level coaching class DVDs are available online for a couple of 100 dollars!!!

Have fun trading!!!

Student of Optionetics   USA

In class, the instructors just think about and talk about what is in their pants!.

& there are some who are so inappropriate & some are so unprofessional!.

It is a students, if we don't like you, "you Don't open your mouth in class":. We only teach to people we like|. Others, we lie and mislead|.

I've got vague and misleading answers from even my favorites, and lied to, etc by some:.

They are not even teaching anything useful like some of the other companies do. They cannot even guarantee the success of their elite students, the students really don't get that much out of the courses that they cannot find or learn elsewhere and if a student comes up with a really important question that they are struggling with, they are subdued or lied to or given a vague and incomplete answer, which it is eventually found for free on the internet!

There is sexual harassment and verbal abuse on students both in class and outside.

Jim   Glenmoore, PA

I have studied with Optionetics for 8 years and have been successful. However, it takes work and study - within Optionetics and outside too.

Ken Kasowitz   Brooklyn, NY

I took the Optionetics 2-day seminar in 2004. I have re attended the 2-day seminar multiple times, including last year in 2011. In every seminar they talk about risk and how it is more important than anything else.

I found it interesting that along with your attack on Optionetics you are advertizing, or appear to be advertizing, your options disk.

Your statement that they do not talk about or downplay risk is phony.

Fred   Florida

As an Optionetics student, I get frustrated at these negative comments. If you peel the onion, they are usually from lazy people who feel you can get something for nothing...never going to happen, competitors...lead by example would be a better approach, or just plain broke minded people who find it easier to jump on a band wagon rather than work at it...good luck with that.

As most programs like this, you must work at it to be successful. If it is as easy as finding FREE info on line or in a book, knock yourself out. I am smart enough to know that is not going to happen. Wealthy people don't have time to complain. We are too busy enjoying life and making our lives better. Wealthy is a state of mind as much as it is money in the bank. That just makes sense to me.

Anonymous   Location unknown

a scam. spent a fortune. other web sites offer more and for free.

Alex B   WA

I just graduated from law school and while waiting for my bar results I decided to learn about option trading. I came across Optionetics and their material on the Internet among many other similar courses. I'm not going attend any seminars. I'm not paying a dime for this information. Want to know why? Because you can get virtually any material of this kind for free. You need to know where and how to find it. For example, I'm now listening the 2 days course at question that I just downloaded. I just paid 50K for law school, but this is education for getting licensed. However, a real practical education, like one about trading and investments, you can find online and for free if you know what you are doing. Some people are just not smart enough to understand how to play trading games, and the game starts with information and who do you listen. My advice to you is to get a solid foundation in math, logics, psychology, sociology and obtain some basic business skills before you embark on any kind of venture, not to mention such a risky one as trading. Remember, the fool always pays the smart. So the solution is to become smart, not to complain about being a fool. Alex B

Bob   Texas

I went to the free two-hour seminar and paid the discounted $995 for the $3995 (regular price) two-day seminar. They do not deliver what they promise. True, I left before noon the first day in order to activate my money-back guarantee, but I could already see where things were headed by then.

First, they actually do give you *some* education so it can't be considered a complete "scam", but the basic level of information they present is readily available from *many* other sources for considerably less -- tens to perhaps a few hundreds of dollars, not multiple thousands.

Their main thrust in the morning of the first day is to sell you on the idea of staying past noon so you can't get your money back. What little real information they give you is barely more than they already covered in the free two-hour initial sales pitch.

The actual purpose of the two day seminar is to sell you on the next one! That one is about $4000 and includes a couple of software packages. At least one of those software packages also has an on-going subscription fee.

For all I know, the software may be well worth the price. The guy I was sitting next to was an old hand attending for at least the second time (I think more) and had already purchased the software and liked it very much. BUT, I attended for an education, not for an expensive sales pitch. I can usually get sales pitches for free. That is why I left. I did notice that the software they were selling was called "Platinum Essentials" and their summary of higher-yet levels of education included "Platinum Pro" so they were not done with their sales pitches!

Their presentation was full of snake oil. For example they discussed how foolish it is to buy stocks outright, given that every trade of a stock has a winner and a loser and you will probably be the loser since you are playing against experts (institutions and funds). I was about to ask why the same logic didn't apply to the options market but they were ahead of me -- with their software you will have an "edge" that will make you smarter than the rest.

Lynn Stratton   Houston, TX

I really appreciate all the comments below. I attended their introductory seminar today with a friend. I have a background in Accounting and Business Management and have traded stocks, but not options. It's an area of interest to me so I agreed to attend. I found that the basics presented today were very informative, but felt as if I was being pitched for the 2-day seminar more than being educated. I understand their goal & 'system', but... Any company that shows you a regular price of $4495, a discounted price of $2995, and then a "one-time, right now" price of $995, should cause a consumer to beware. I understand the need to charge for education, but how steep should the price be? A couple of years ago, I attended a seminar that was designed the same way, but for making money on the internet. A $48 website turned into a $7000 nightmare. Some call it a scam, some call it the price of education, however, the State of Texas filed a class action law suit against this company & won. Unfortunately for me, I learned of this after it was over & I took a loss. Even after filing a lengthy and detailed complaint with the State Attorney General's office, I still have yet to receive a response 17 months later. Recently I discovered an affordable recourse and I am receiving results. Hope my review was of some help to you, have a nice day!

Matt   Jacksonville, FL

I'm listening to the audio tape right now. I'm about 30-40 minutes in. Beginner stuff so far - I've been successful trading options on my own thus far in the past 2 weeks (up 24% as of 7/3/11). But I watch the market daily and I've studied option strategies for days before I started trading them. I'm interested in the Optionetics for the EDUCATION. So far all is accurate. I'm hoping they cover more advanced positions and teach me more about hedging my risk. Options are NOT for everyone. You can lose money on options. I work full time and watch the market as much as I can during the week. I probably spend 10-15 hours a week monitoring the market (and a handful of good company's stocks such as Google, CAT, CMG, APPL, QCOM, BWLD). This is not a get rich quick scam. It's education. Take it for what it's worth. If you don't have time to watch the market, then save your money or D/L the audio. XD

Right now they are going over spreads - moderate trading level.

Randy Howard   Minnesota

I took the course in the early 90's. Paid hundreds extra to receive their newsletter with the "best trades available". Using only those recommended trades for 1 year , I lost several thousand dollars. Of course i asked for a refund and only got a free pass to the next seminar. I went. When i asked George why i lost so much using his trades, he stammered and replied "we are not using those techniques any more". DO NOT BUY THIS PRODUCT..!!!

Mark   Colorado

Signed up and canceled (via email) the same day. Looks like there may be some good content there, there, but it just didn't have the studies I needed.

Come to find out 2 weeks later that they charged me anyway.. It's been 5 weeks since then and no response to any phone messages that I've left (11 tries and I've never actually spoken with anyone..) and no email responses at all.

I have live chatted a couple of times with a "Lisa V".. she just says..there's nothing I can do..

I have received a couple of calls from a gentleman named Marshall.. He's asking how the service is working.. so apparently the non existent customer service doesn't communicate with the "education" department.

Finally just had to have the company blocked from submitting Visa transactions to my bank... I guess I didn't read the fine print.. Beware..

Mark

albro   Vancouver B.C.

I just received the invitation by mail.
After reading a lot of the testimonies listed here I have decided to file the invite in the garbage.
I do not know how they got my mailing address as I have never heard of optionetics before.
I had an account with vector vest [off BNN]
I think they may have shared my information[probably sold it].
I had a heck of a time canceling my subscription with VV.they just kept billing my credit card....
I feel like I am a minnow in a shark pool.
.............. BEWARE............ Albro...