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E-mail to a Friend Printer Friendly Version Category: Seminar Programs

Submitted: 10/20/2006 11:29:20 AM Modified: 10/20/2006 11:29:00 AM

My letter to Options Success: On Thursday, June 15, I attended a 2-hour preview for the Options Success program, as I am interested in learning about trading with options. At that time I did not sign up for the 3-day workshop, partially because we were told it was a brand-new program (perhaps untried, untested) and partially because of the condescending attitude of the presenter (“If you don't sign up for the 3-day course, you're just somebody who attends everything hoping to find the ‘Golden Nugget” of trading. If you want to learn something, you have to pay for the education.”) Four days later, however, I called to register. I had previously attended 2 days of the 3-day training for Teach Me To Trade and found the information useful, even though I chose not to sign up for advanced courses. I hoped for the same result with the Options Success program. I specifically asked if the class focused on options strategies because I didn't want to get a rehash of Teach Me to Trade. I was assured that the course focused on options material. Unfortunately, the Options course turned out to be nearly a total waste of time and money. It didn't look good when the speaker told us that he was a last-minute replacement for the scheduled speaker, whose wife was delivering her baby. It looked even worse when he told us he had never given the presentation and was using the scheduled speaker's program as the basis for his presentation. I taught high school for 30 years and I understand that everybody has to learn how to teach by doing it. My training, however, was alongside and under the direction of an experienced teacher. It was obvious from the presentation that the speaker was not familiar enough with the material. It was also clear that the speaker was under a great deal of stress. This is not an attack on the speaker. He will, I'm sure, become a good presenter after he gains some more experience. I am sure, however, that this workshop will be forever etched into his memory. The main objection I have is that the “training” was more a commercial for other course offerings than it was instructions about options trading. The first two days essentially repeated the material from the 2-hour promo. During an early break on the 3rd day, a number of participants gathered and were complaining that little education had been presented. One of the training staff members stood nearby, obviously hearing what was being discussed. He then took the speaker out of the room for a few minutes. When the break ended, the speaker mentioned that he understood people were unhappy about “not getting the meat”. He then sarcastically referred to us as people who “expected to become professional traders with three days of training” and said if we wanted to learn something, we'd “have to pay for education”. Where had I heard that before? At this point, I called him out and said that he was demeaning and had no business talking to us like we were idiots. “Well, maybe you are,” he replied. I said that we had paid for instruction and that his focus was to continually refer back to advanced courses. He said we were truly “naive” if we didn't expect him to be selling something. By this time others had joined the chorus and it was evident a lot of the people there were unhappy with the turn of events. Others were unhappy that a lot of the presentation was on techniques for finding stocks. While you obviously need good stocks for options trading, that wasn't the announced purpose of this course! After probably a 15-minute discussion, the speaker resumed the class and finely taught a strategy. We broke for lunch. Instead of eating, the speaker and assistant stayed in the classroom preparing another strategy to present after lunch. Just at the end of the lunch break, I approached the speaker and told him that I wasn't trying to nail him but that I (and others) was frustrated with the lack of training. He apologized for his earlier remarks and said the class had been assigned to him at the last minute and that he had told them he'd do it “as long as their expectations were low”. He admitted that the course was new and the bugs hadn't all been worked out yet and that perhaps the 2-hour intro guy was promising more than the class was scheduled to deliver. He then presented a second strategy which he clearly admitted to not understanding. The class closed at 1:30. There were questions during the course which people asked which we were told either would 1)be answered if there was time available or 2) could only be answered in an advanced course. According to the office person I spoke with on the phone, on Thursday we were scheduled 9:00-6:30. We were out at 4:00. On Friday 8:30-6:30. We were out at 4:00. On Saturday 8:30-4:30. We were out at 1:30. I don't know how to ask you to pay me back for three days of lost time. I guess if I told you I'd be standing outside every Teach Me to Trade, StarTrader, and Options Success Intro you'd find a way. (Ah, the beauty of retirement!) But I do know you can send a refund for the $157 I paid for the course. I believe you intentionally mislead people and use strong-arm tactics to accomplish your ends. And I'd suggest you rethink your strategy, but you've probably got it right where you think it should be. Jerry Kirkland, Washington U.S.A.

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