Options schools/courses/mentors recommendations

[runmael]

Hi, I must say that I have learned a lot since I joined T2W and I greatly appreciate the community! Thanks

I am currently actively looking to supplement my learning experience by enrolling in some type of options trading education. Have you used any of the online options schools, mentors, even online courses? I would love to hear your experiences. Can you recommend one, and if not, why not?

 

[options-george]

I have never taken part in an options education program. I taught myself over a couple of years, just by reading various books, taking some trades, and going to a option-focused networking group in London. All the other attendees of this group attended various workshops run by Optionetics, a US-based options education company.

I have to be honest with you - the stuff I had learned myself made me significantly more knowledgable in the options area than the guys who had paid several thousand pounds/dollars to attend various courses.

My knowledge was also enough to score a trainee options position with an independent options market-maker.

I would suspect that the education firms in this area package a nice product and claim that they cover most of the vital parts - and amazingly can do so in the space of several days! My personal opinion is that this is not feasible.

So I think you can go a really long way by simply buying several options books (provided they are the right ones) and studying them earnestly. And then try to apply that information using a demo account and observing how the options behave. Also search online for people who know a lot about options and are happy to help/guide you.

That's my two cents - hope it helped

 

[runmael]

@options-george I had also taken described path. Learning from books and from the internet communities / various resources until I felt comfortable enough to try and test the ideas on the demo account (something similar). This is a cycle for me actually - learning and testing.

I already saw how expensive those schools are and lots of them appear to be very shady. I am usually in need for specific advice regarding some of my positions, so I am looking for someone more on demand, who is willing to guide me on specific occasions (e.g. when doing adjustments). Is there a place where I can "rent" some amount of time with the more experienced trader?

P.S. (Is it only my specific need or some of you guys also experience same? - what do you do in those situations)

 

[options-george]

@options-george I had also taken described path. Learning from books and from the internet communities / various resources until I felt comfortable enough to try and test the ideas on the demo account (something similar). This is a cycle for me actually - learning and testing.

I already saw how expensive those schools are and lots of them appear to be very shady. I am usually in need for specific advice regarding some of my positions, so I am looking for someone more on demand, who is willing to guide me on specific occasions (e.g. when doing adjustments). Is there a place where I can "rent" some amount of time with the more experienced trader?

P.S. (Is it only my specific need or some of you guys also experience same? - what do you do in those situations)

Right, I see!

If you have already reached that stage, then there is probably no useful educator out there. You need to sit down with actual option traders, basically find yourself a mentor. What option markets do you normally look at?

When I was trading equity options I didn't really have anyone whom I could ask for advice on a demand-basis. I used forums and the occasional meet with other trades who knew a bit about options.

When I was working as a trainee, the main trader obviously answered any questions that I had.

In your case, ideally you want to sit next to an option trader on a regular basis. That would probably be difficult to arrange.

Can't think of any other suggestions at this point.

 

[vanillaman]

City Monopolist trading has a great Option school with free information. I have posted this in another thread as well but it is free. There are others as well like Options guide in the US that have some free stuff.

I hope it works for you.