This last week we hosted a webinar exclusive to our community here
at TheOptionClub.com. The featured speaker was Steve Lentz, who
has been an options educator for the CBOE's Options Institute, the
Options Industry Counsel, the Aussie Stock Exchange, and now us...
Steve is currently the Director of Education with OptionVue, as
well as a mentor in their affiliated mentoring program. He is
extremely knowledgeable when it comes to trading, and he is a
superb teacher.
I hope you caught the presentation, but if not you can still view
it at:
http://www.options4investors.com/webinar/
Steve Lentz tackled the myth about option sellers having an edge in
the market.
Is it true? Do option sellers really have an advantage?
Well, watch the video but the short answer is "maybe." It all
comes down to an understanding of implied volatility, the option
pricing models, and doing a little bit of analysis. Steve showed
us the basics of that last week.
He also started talking about credit spreads and the rookie
mistakes he has seen so many traders make. We talked about high
probability credit spreads and the necessary risk to reward ratios
and win rates we need to achieve if we hope to be profitable.
It all came down to "practice, scrimmage, play..." What?
The "practice" part of trading is back-testing, the "scrimmage" is
paper trading, and the "play" is money in the market. How many of
us have gone to a seminar or learned about some trading idea that
got us enthused, then ran home and tried trading it the following
week?
I have and so have you. We've all done it. Was it a mistake? Oh,
sure it was. So, what's the next step?
At the end of the video, Kevin Ritter from OptionVue outlined an
Express Training product that they put together...just for us.
This last summer Kevin and I worked out a multi-part presentation
featuring another of OptionVue's educators. It was awesome. Kevin
and I then started talking about their mentoring program. It's an
excellent program and well worth the money, but it is expensive...
I wanted to get something that any one of us could afford, because
I think that the guy with the $5,000 account should be just as
prepared as the guy with the $500,000 account. Kevin agreed and we
put together the Express Training product. It's the first time
OptionVue has done this and it's just for us.
Now, it's not the full blown mentoring program, but for 30-days
we're going to focus on one "bread and butter" trading
strategy...the credit spread.
Why the credit spread?
You can trade credit spreads in most market conditions. It's a
defined risk trade. It let's us take advantage of theta decay. It
gives us an opportunity to create an edge...
...and that's exactly what we're going to learn how to do.
The mentoring program is designed to take us from theory to
practical application. We'll learn about credit spreads, but then
learn to use a trading system, back-test it, and trade it like a
business. We're going to learn how to establish a customized
trading plan, how to find appropriate trade candidates, how to open
and manage positions, and how to close them.
I'm already signed up!
You're not going to find this high level training anywhere for this
price. I know. I've looked. This course is not generally
available. It's just for you, me, and our other members.
You'll receive personal, private mentoring sessions with Steve
Lents so you can talk to him about your trading and receive that
individualized guidance from one of OptionVue's top mentors. What
do you think it would cost if you paid for the sessions ala cart?
Oh, but you need software and data feed, right? It's included.
Kevin also agreed to provide access to their on-line educational
library, student forum, and more.
The only thing I didn't get them to include was the trading
account. You'll have to use your own.
*** REGISTRATION DEADLINE - Wed. Oct 29th at 2:00 p.m. ***
This coming Wednesday, October 29, 2008, is the next training
session. If you want to join us for the Express Training you must
be registered no later than 2:00 p.m. on that day.
The details of the training package are covered in the video
re-play. You can also find the same information and get registered
here:
http://www.optionvue.com/ExpressTraining.aspx
Like I said, I am already signed up and will be part of this
mentoring class. The opportunity to refine my personal trading, to
become more business-like in managing my trading, is just too
valuable to pass up. At $499, you may not have such an opportunity
again.
Get yourself registered now and I'll see you next Wednesday for
class...
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