Monday, September 7, 2009

Re: [TheOptionClub.com] Red Option

 

Paul


Thanks,


I wasn't aware that they archived the sessions. I will have to consider this again because although I can't watch the coaching sessions live I can see how someone would still benefit from watching the recorded sessions. Are you picking up anything interesting from them?


Scott


--- On Mon, 9/7/09, Paul Seifert <paulseifert@comcast.net> wrote:

From: Paul Seifert <paulseifert@comcast.net>
Subject: Re: [TheOptionClub.com] Red Option
To: OptionClub@yahoogroups.com
Date: Monday, September 7, 2009, 1:16 PM

 

Adding to what Scott says Swim Coach also archives all of the Swim Coach sessions so that you can view daily at your leisure.
----- Original Message -----
Sent: Monday, September 07, 2009 1:53 PM
Subject: Re: [TheOptionClub. com] Red Option

 

Rob,


I used their service for several months awhile back and for the $20 per month it was quite worth the cost. However I was not taking their trade recommendations for real money trades in my account rather I used the service more for educational purposes and paper traded their position recommendations. The intent was to learn how to trade certain strategies, in my case a basket of Index spreads.In addition to the trade recommendations that they publish periodically, you also have access to the trade archives of past trades to monitor any open positions and also review closed positions that they put on. For those who use Thinkorswim using the Thinkback features in the platform was particularly useful for this. Scott Sheridan over at Red Option is very much into risk management and that comes through in the way they trade and their adjustment strategies. As a trade service that one would use solely to make money via taking their recommendations and adjustments, generally most of the positions I was following made money during my subscription period. If decided to take a trade or two from their recommendations for a small position using money at the very least you would pay for the subscription fees for as long as you wanted to use the service.  As an educational resource it was very good and I can recommend it from that perspective.


Red Option also added a new offering since I was taking the service called Swim Coach (cost I believe is $50) per month where you get 2-3 hrs per day to connect with a professional options trader who answers questions taken from the people who are logged into a virtual trading room. Also I think 1-2 times per month they have live market trading sessions where you can follow along in real time as they make their trades for 4-5 hrs of the trading day. I have not taken this service because of my work schedule and access issues during the work day but for those who can take advantage of it this might not be a bad deal at all. Individual mentoring programs are very expensive and this might be a good cost effective alternative to those that are looking for some direction in their trading, certainly there are things to learn just by being in the room for a few hrs per day. I would think that if you walked away with just 1-2 good ideas per month that you could choose to trade or at least keep you from avoiding a costly mistake. Either way it would probably pay for the cost of the service.


Hope this helps


Scott 






 


--- On Mon, 9/7/09, drrobhansen <robhansen5252@ hotmail.com> wrote:

From: drrobhansen <robhansen5252@ hotmail.com>
Subject: [TheOptionClub. com] Red Option
To: OptionClub@yahoogro ups.com
Date: Monday, September 7, 2009, 9:24 AM

 

I just signed up for two free months of the Red Option advisory service. I specifically signed up for the index and equity calendar spreads, which I am trying real hard to get a handle on. Could anyone out there please comment on anything you know about this service, it's relationship with Think or Swim, the timeliness of their recommendations, the ability to get their prices, etc. They have an auto trade feature which claims to get the fills at the recommended prices, but I really don't want them to do it for me. I'm still a student of the markets.

Thanks,
RFH



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