Optionetics is a seminar based financial training course founded by George Fontanills. They offer free, nationwide, seminars in which Optionetics’ reps entice prospective traders with options lectures and demonstrations of their trading system. The free Optionetics seminars are run by salespeople who deliver trading information while attempting to get attendees to sign-up for the 2 day paid seminar.
The Optionetics paid seminar will run you $2,995 for two days of training and course materials on options trading. There are many mixed opinions on this course. Most people agree that it all depends on your initial level of investment education. Those that aren’t well versed in stock options lingo sometimes find the 2 day course to be rather overwhelming and at times confusing.
Their return policy states that after 36 trades investors are eligible for their money back guarantee. Most people would assume that they would have to purchase 36 trades but the fine print states that a sale occurs when an option is bought and sold bringing that number to 72 trades.
Optionetics has been around since 1993 and they work very hard to protect their reputation. They do provide a service that could be valuable to certain people; however they try to recruit customers from the general public with promises of wealth and confidence in an industry that is volatile and risky which is the basis for many of the negative reviews.
71 ‘Optionetics’ Reviews
Optionetics techniques as a trading practice
i'm glad i found others who feel the same about this as i do, for years i pondered over testing this out but could never bring myself to do it, as i was not feeling the confidence even after attending the courses twice and listening to the audios many many times, i just felt it was a money making concept to draw you into buying more courses and trading s/w. As far as i can remember there was only one guy in our class that appeared to make any money using the technique, and he apparently was using some new s/w they developed, but apparently it was not necessary! but they still had to mention... i cant even be sure he was not a plant! i doubt i will ever feel i gained anything valuable from these talks.
I took my first course in 2004 and over the following year completed many more trading courses from them, everything that was offered at the time. I spent around $24,000 on trading courses and software. Classes are pricey and if money is any issue there are cheaper ways to learns.
During this time I purchased a number of their products that they "sell" you during your expensive class. There was always something else to sell and I chased many of their products, none of which I use today.
I did learn a lot about options trading and money management, but the problem for me is that I did not learn one system or style of trading and learned a lot about everything, just nothing I was great at doing. Although i meet many people in all the courses I took, I cannot remember anyone that consistently made money trading options. Just the opposite. I meet folks who had lost large sums of money and this was after spending thousands on Optionetic courses. I never made money on my 2 years of regular trading and after all my training.
I do trade again after taking a number of years off. I have learned how to trade around news and do now make money on a consistent basis. I use none of the products from Optionetics and although I learned the strategies from them I like, I trade differently. So much of what I learned on technical trading from GET then Profit Source which they abruptly changed to, is just noise for me. I get enough info off my brokers software and I think most people can as well. There are lots of free webinars our there from the options institute along with courses that most trading software offer as well. That is where I would send anyone trying to learn options. For most people they would be better off buying ETFs and stay away from options. Very few folks make money trading options including optionetic grads.
In 2004 I took their 2 day seminar. I read all their material and the CDs at the time. I took an enhanced class also for another couple of grand. I attended a pool of get together folks that talked about options. The bottom line is this. In a room full of people, I was the only one who actually did any trading. Everyone else only talked about this and that about Optionetics without every trading options. Over the years I used the same material as back in 2004. I have yet to bump into anyone who has taken the class on a repeat basis and traded options. They put all kinds of money into hearing someone else actually trade. I never made any money with options; but, that is not to say what they taught was bad. I did better with buying and selling stocks with a much higher risk. I didn't buy into Optionetics graphs programs or additional enhancement programs. Just the same I have yet to run into anyone else who took the program and actually traded options! The group I was all talk and no show. No guts, no glory, and you won't loose your shirt with options trading. To make the money, you have to do large volumes and be right! I didn't like that aspect. They didn't teach it either. Try actually trading and learn a whole lot! Their coarse then makes sense.
I spent my $3000 and attended their workshop.
Many of those in attendance were repeat students.
This I thought was a good thing as they said that once you take their course you can repeat the course as many times as you want at no additional charge. The down side is that these students were more advanced and tended to dominate the class as well as the pace of the class leaving the new students in their dust.
The year after taking the class I returned and asked about repeating the class being a former (paying) student. I was told that I needed to place a $950 dollar deposit for them to hold a seat for me. This would then be refunded after I attended the class and that I would forfeit the funds should I not show up for the class. I explained to them that I wouldn't have gone to the trouble to try and sign up if I were not going to attend but was treated like they sure as hell didn't care, as It allowed for another new paying student.
Would not recommended this course to any of my friends.
Waste of time and money