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Thread: Options Animal

  1. #1

    Options Animal

    Has any one heard of an online trading school called Options Animal?

  2. #2
    Join Date
    Feb 2006

    Re: Options Animal

    Not recommended. it may teach a program but the trouble with Options is that most people lose money. I am a private investor with some years of experience in investing. Most of these so called classes have several course that take your money and in the end only the people teaching to course make any money
    if you want to do Options the following is recommended
    1) Enroll at a reputable college like Illinois institute of Technology (IIT) in the Stuart School of Business, Carbondale, IL and take the MS degree program in Options or Financial engineering.
    2) if you must learn about Options buy the Book by the Grand master of Options Larry McMillan " Options as a Strategic Investment , along with the study guide and Options Volatility and Pricing by Sheldon Natenburg for about $158.00 . you can buy this on Amazon . go thru the book an study guide this will equal any so called course on Options Animal . they are classic texts taught in the MS degree program at IIT
    3) Before you try to trade Options at all, "paper trade" at a website like www.wallstreetsurvivor.com for free for at least 3 -6 months. record your trades. follow it faithfully and see how you do. Most people are NOT successful but see how you do see also free website www.bullbearings.co.uk and again get a free account ,join a league and paper trade for 3-6 months record how you do. again most people lose money but try it anyway.
    4) if you want to trade options , I do NOT recommend any " do it your self" or website like Options animal that promises you their course wilt each you anything. they make the money, odds are you will lose money
    5) taking an MS degree course at IIT might help if you really want to learn the field.
    6) for the casual investor it is NOT recommended. you may wish to get a newsletter like
    ) Value Line Options and warrants for about $3000 per year, it tells of the underpriced Options ,which you buy, and the overpriced ones that you sell
    7) for most brokerage houses they want an account of $10,000 to do something innocuous like being a "buy writer" i.e. buy the stock and sell the call, or "write a covered call" which is relatively easy and should boost stock performance of trades by about 10-15 % again there are newsletters like www.coveredcalls.com cost about $800 a year
    8) "to go naked" which means the call is not covered by the stock ,the brokerage wants an up front deposit of
    $100,000 in that situation "sell puts' is the easiest but again they want a deposit of $100,000
    so the bottom line is that any website like Options animal only makes money for the person who sells the course. 85% of all people lose money so it is not recommended Now then you may be part of the 15% so get the books , paper trade at free websites and then get a good newsletter but remember 85% of all people lose money
    it takes time and constant attention
    which is great if you are a retiree with time on your hands. and use and try QQQ or some Index options but if you work a full time job it is not recommend. options are NOT like buying a stock and watching it grow
    . options trade by the minute and require constant attention. at least paper
    trade and see how you do , if not successful then try something like a good mutual fund
    thanks for listening to me paper trade for 3-6 months and see how you do , use websites. at most buy the books for about $160. that is all you will lose. but to try a website like Options animal or any similar ones is asking for trouble for the average American investor

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