Consistent Options income
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Hey,
Anyone has any experience with http://www.consistentoptionsincome.com/. The upfront course fees is $1,995 and I do not see a refund policy. He claims 5% consistent return and says doesn’t use condors or spreads. He does buy and sell calls & puts in the same month and on the same underlying which does sound like a spread to me.
any thoughts/experience will be appreciated
thanks!
If you see REAL records then the system can be trusted. I don’t trust any of these back-tested results, especially in fast moving markets. Back-testing does not take psychology into account so forget that noise. Ask the man where is his ACTUAL trading account and results from it.
Thanks! The whole thing looks suspicious to me. The site asks for email to provide links to more videos about the statergy but no link received in the last 2 days.
I’ve heard options writing described as “Picking up pennies in front of a steam roller”. Writing covered calls [the simplest/safest trades] leaves you exposed to 100% of the downside but little of the upside.
I have tried hard to work out how, but it eludes me. I have even done such a course and wouldn’t recommend.
thanks Bill! Yep, option writing by its nature is low yield but the sell is to do ‘high’ probability trades and then cut your losses early coz risk/reward ratio for any high probability out-of-money option spread will be pretty high.
Option writing has different forms. Risk/reward are directly related. Take a look at this article – http://steadyoptions.com/articles.html/post/articles/google-earnings-trade-risk-vs-reward-r27.
I have been using this strategy since 2005 and can’t honestly tell you, it’s one of the best option plays I’ve ever used. I have spent tons of money, as most have, learning how to trade options. Consistent Options has performed exactly as the developer states. In fact, he has broker statements on his website. There are very few ‘experts’ offering that for all to see. I can also confirm, any questions I have ever had, have been answered in a very timely manner. Take a leap of faith in this program, I did and I am very glad I did!
derekd
thanks Derek! can you share a little more about the strategy used? on a typical trade what is your risk/reward ratio? how many times do you have to adjust the trade to remain profitable? what would you say is the minimum amount of money that should be invested to make the trade work considering cost of the course + commissions?
thanks!
My suggestion is to try MyWealthyOptions.com Guarded Strategy. They are consistently profitable and have good risk management in place. Check them out.
thanks George! This seems to be a pretty new service which started on 12/15/2011. I am not sure if performance on such a short time scale is a good indicator. I think 10 percent per month has a much longer record and I would rather sign up for it, if I want to go that route. I was looking more at learning strategies which I can implement rather than relying on a newsletter.
vrader, if you want combination of education and trade alerts, check out http://www.steadyoptions.com. Every trade alert comes with detailed explanation and discussion on the forum.
I had contacted John and at ConsistentOptionsIncome.com and got a prompt reply. He just send me an invite for a web seminar where he will explain hos strategy more . Unfortunately, I am out of town and can’t attend but thought I would post it here, in case someone else is interested. If you do attend, I would appreciate if you could write a small note about what you thought about it.
Title: Learn a Unique Options Trading Strategy
Date: Saturday, July 14, 2012
Time: 9:00 AM PST (12:00 PM EST)
Register:
This is the link to register:
https://www3.gotomeeting.com/register/419890878
Vrader,
One thing to consider when evaluating an option trading strategy is whether it aligns with your personality and the amount of time you have to commit to monitoring your positions. Swing trading and volatility trading (as examples) are often tough for a retail trader to manage – they require precise entry, diligent position sizing and rigorous trade management. Options selling strategies can be more forgiving and certainly “feel” better due to their higher probability of success. There are some great passages in the Jack Schwager’s Hedge Fund Wizards book about traders’ search for the right strategy for them – it makes all the difference.