Comments on: Is This Really Bad Advice? http://optiongenius.com/blog/is-this-really-bad-advice/ The Option Genius Blog Tue, 15 May 2012 16:09:12 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Walt http://optiongenius.com/blog/is-this-really-bad-advice/comment-page-1/#comment-4160 Walt Sun, 06 May 2012 02:49:19 +0000 http://optiongenius.com/blog/?p=42#comment-4160 Allen- There are people all over that don't know how to ask for help let alone recognize it when it comes their way. All be it, I have been a member now for going on 3 months and have not only learned from you much regarding the trades that we put on, but I have learned from you how to be humble and how to do right by others. Lets all take a deep breath here and move forward....I'm sure that if this person wants to watch and check out your abilities she can...when she is ready. Allen-

There are people all over that don’t know how to ask for help let alone recognize it when it comes their way. All be it, I have been a member now for going on 3 months and have not only learned from you much regarding the trades that we put on, but I have learned from you how to be humble and how to do right by others.

Lets all take a deep breath here and move forward….I’m sure that if this person wants to watch and check out your abilities she can…when she is ready.

]]> By: Genius http://optiongenius.com/blog/is-this-really-bad-advice/comment-page-1/#comment-4140 Genius Mon, 23 Apr 2012 17:53:40 +0000 http://optiongenius.com/blog/?p=42#comment-4140 You can see all our past results in the members area. As well as the trades for the past several months. As for the performance, that changes. I have had years with over 100% and I have had losing years. Overall it is still nicely positve. You can see all our past results in the members area. As well as the trades for the past several months.

As for the performance, that changes. I have had years with over 100% and I have had losing years. Overall it is still nicely positve.

]]> By: Keith Harrison http://optiongenius.com/blog/is-this-really-bad-advice/comment-page-1/#comment-4139 Keith Harrison Sun, 22 Apr 2012 20:38:48 +0000 http://optiongenius.com/blog/?p=42#comment-4139 Allen, you did write to stop correspondence with that person, but I think it's clear she's not nasty or greedy - she is terribly confused and feel she has to show her confusion in a somewhat aggressive and unthinking way. The deal you offer your clients is fair and she can see that if she stops and thinks. Perhaps she doesn't know how to join a brokerage firm or make a trade and us angry at herself. In any case it's all water under the bridge. NOW I HAE A QUESTION. In some places on your site you claim that you have gained an average 6% per month; inj this correspondence you indicate that the figure is 10% a month and 100% p.annum. Some discrepancies here. Second when you set a trade using 20% of your account which, I'm figuring is $2,000 out of $5,000. Is the 6%.10%. or $12% (see figures above) calculated on the $2,000 figure - or what. Some examples of what happens in a typical month with real figures would be very useful to all of us. In any case, keep up thje good work and don.t get put off by the kind of confusion and anger (at someone else, obviously) that the lady in question shows. Life is too short and we should go long! Allen, you did write to stop correspondence with that person, but I think it’s clear she’s not nasty or greedy – she is terribly confused and feel she has to show her confusion in a somewhat aggressive and unthinking way. The deal you offer your clients is fair and she can see that if she stops and thinks. Perhaps she doesn’t know how to join a brokerage firm or make a trade and us angry at herself. In any case it’s all water under the bridge. NOW I HAE A QUESTION.

In some places on your site you claim that you have gained an average 6% per month; inj this correspondence you indicate that the figure is 10% a month and 100% p.annum. Some discrepancies here. Second when you set a trade using 20% of your account which, I’m figuring is $2,000 out of $5,000. Is the 6%.10%. or $12% (see figures above) calculated on the $2,000 figure – or what. Some examples of what happens in a typical month with real figures would be very useful to all of us.

In any case, keep up thje good work and don.t get put off by the kind of confusion and anger (at someone else, obviously) that the lady in question shows. Life is too short and we should go long!

]]> By: patrick http://optiongenius.com/blog/is-this-really-bad-advice/comment-page-1/#comment-4110 patrick Wed, 04 Apr 2012 19:43:53 +0000 http://optiongenius.com/blog/?p=42#comment-4110 I enjoy your site & for the novice you definitely offer a great deal. Other than the 'money back' guarantee what else could you possibly offer the lady who found you too candid. You are, in my opinion, better off without her. Over my 20 odd years of very active trading I 'paid' my fair share as I hitched up with various 'advisors'. I paid them well for their differing opinions & hefty commissions & in most cases mediocre results. But you learn a lot, in fact the best advisor I had was a 40ish something lady who was awesome, but she intimated to me that she NEVER traded Options herself ???? After she retired I went on my own & now just 'patiently' plod along. I trade both side of the market favoring the high premium credit spreads & VERY actively roll the legs of the trades. Last month took in over $16,000, although I am happy with $2,000-$3,000 a month. This month I am up $4600, but I have a few legs that may take me down a notch if I can't roll them effectively. (I would be more than happy to verify my trading results). I read where some complain that they have bad days & lose money acting on your advice etc. My worst day was a one day loss of $18,000 (I neglected to close out short OTM options on a stock after the options were to expire & the stock spiked, after hours, putting me deep in the money). Another shock was an option assignment amounting to over $400,000. But believe it or not after being assigned (& within the 3 day limit) the stock tanked about $100 giving me a $20,000 odd return. Obviously I have learned from my many mistakes but I am always open to new ideas, and recovering from bad trades is a passion not a resignation to defeat. Many years ago one of my favorite advisors said 'you can never lose money taking a small profit'. I have attempted to adhere to such simple advice, BUT if I get greedy or lazy it never fails to bite me in the a$$. Option Trading is an amazing rush that is very addictive, but it's discipline NOT luck that prevails. I enjoy your site & for the novice you definitely offer a great deal. Other than the ‘money back’ guarantee what else could you possibly offer the lady who found you too candid. You are, in my opinion, better off without her.

Over my 20 odd years of very active trading I ‘paid’ my fair share as I hitched up with various ‘advisors’. I paid them well for their differing opinions & hefty commissions & in most cases mediocre results. But you learn a lot, in fact the best advisor I had was a 40ish something lady who was awesome, but she intimated to me that she NEVER traded Options herself ???? After she retired I went on my own & now just ‘patiently’ plod along.

I trade both side of the market favoring the high premium credit spreads & VERY actively roll the legs of the trades.
Last month took in over $16,000, although I am happy with $2,000-$3,000 a month.
This month I am up $4600, but I have a few legs that may take me down a notch if I can’t roll them effectively.
(I would be more than happy to verify my trading results).

I read where some complain that they have bad days & lose money acting on your advice etc.
My worst day was a one day loss of $18,000 (I neglected to close out short OTM options on a stock after the options were to expire & the stock spiked, after hours, putting me deep in the money).
Another shock was an option assignment amounting to over $400,000. But believe it or not after being assigned (& within the 3 day limit) the stock tanked about $100 giving me a $20,000 odd return.
Obviously I have learned from my many mistakes but I am always open to new ideas, and recovering from bad trades is a passion not a resignation to defeat.

Many years ago one of my favorite advisors said ‘you can never lose money taking a small profit’.
I have attempted to adhere to such simple advice, BUT if I get greedy or lazy it never fails to bite me in the a$$.

Option Trading is an amazing rush that is very addictive, but it’s discipline NOT luck that prevails.

]]> By: jay http://optiongenius.com/blog/is-this-really-bad-advice/comment-page-1/#comment-3976 jay Sat, 11 Feb 2012 00:01:46 +0000 http://optiongenius.com/blog/?p=42#comment-3976 I agree it was rather condescending. a gentle answer and you would have had another client. I agree it was rather condescending. a gentle answer and you would have had another client.

]]> By: Genius http://optiongenius.com/blog/is-this-really-bad-advice/comment-page-1/#comment-3769 Genius Mon, 30 Jan 2012 21:00:27 +0000 http://optiongenius.com/blog/?p=42#comment-3769 Thanks Ryan. But I plan on doing this for a few more years. But who knows things might change. :) Thanks Ryan. But I plan on doing this for a few more years. But who knows things might change. :)

]]> By: Ryan Cook http://optiongenius.com/blog/is-this-really-bad-advice/comment-page-1/#comment-3755 Ryan Cook Mon, 30 Jan 2012 02:44:07 +0000 http://optiongenius.com/blog/?p=42#comment-3755 Allen - if you're looking for somebody to work with to pass the reigns to, I'd be more than open to working my tail off. Each trade you propose I analyze and not just blindly execute. I bring up my Think or Swim tool and really look at it, play with the ROI and Success calculators and see if it makes sense for me. I utilize the paper money account to execute other trades that are similar that I may think are better options (certainly not always the case). I'd love to work on it with you. /rc Allen – if you’re looking for somebody to work with to pass the reigns to, I’d be more than open to working my tail off. Each trade you propose I analyze and not just blindly execute. I bring up my Think or Swim tool and really look at it, play with the ROI and Success calculators and see if it makes sense for me. I utilize the paper money account to execute other trades that are similar that I may think are better options (certainly not always the case). I’d love to work on it with you.

/rc

]]> By: Genius http://optiongenius.com/blog/is-this-really-bad-advice/comment-page-1/#comment-3350 Genius Wed, 28 Dec 2011 17:59:36 +0000 http://optiongenius.com/blog/?p=42#comment-3350 Dani, No you did not miss the special. When the site was started is was $50 a month, then was raised to $65, then $79. The next bump might be to $89 or $97. But the price you have when you join is the price you keep. So there are some people paying $50 a month, but they have been members for a long time. Dani,
No you did not miss the special. When the site was started is was $50 a month, then was raised to $65, then $79. The next bump might be to $89 or $97. But the price you have when you join is the price you keep. So there are some people paying $50 a month, but they have been members for a long time.

]]> By: Dani Linkhart http://optiongenius.com/blog/is-this-really-bad-advice/comment-page-1/#comment-3349 Dani Linkhart Wed, 28 Dec 2011 15:15:54 +0000 http://optiongenius.com/blog/?p=42#comment-3349 I am new to your membership site, but I pay $79 per month, not $50. Did I miss out on a special? I am new to your membership site, but I pay $79 per month, not $50. Did I miss out on a special?

]]> By: Alease Basila http://optiongenius.com/blog/is-this-really-bad-advice/comment-page-1/#comment-3233 Alease Basila Mon, 12 Dec 2011 03:27:30 +0000 http://optiongenius.com/blog/?p=42#comment-3233 LOL, I think we've all heard that one Dawn. It's hard not to keep moving on to something else but I think for anyone wanting to create a full-time income, they really needed to stick to one thing until it works. LOL, I think we’ve all heard that one Dawn. It’s hard not to keep moving on to something else but I think for anyone wanting to create a full-time income, they really needed to stick to one thing until it works.

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