At the free seminars that this Optionetics company repeatedly have the presenter will give examples of trades that made a lot of money. He or she will say that there are even real trades given at the non free seminars that students can call in to trade right at the seminar. Nothing is ever mentioned about further education, tools required etc. They present the seminar as being something that one can attend and just after they attend they can start to practice the theories and make some profitable trades. There is also a 2 part guarantee where one can return the course material by the afternoon of the first day and get a full refund or after 6 months if they did not achieve a 300% return on the class tuition.
The fine print which was never mentioned by the presenter is that 36 'Optionetics limited risk' trades must be opened and closed during that time. This is nearly impossible for someone who is new to trading as it will take more than 6 months of trial and error to get even 1 profitable trade.
At the paid seminar there is no new information given until after the deadline for the full refund has passed. Then on the second day, which is a trading day there was a trade given to the class which was completely inaccurate. False information regarding the earnings date for the company was told to the entire class. There was no internet access at the class so there was no way to verify the information. Many of the students called to their brokers to execute the trade only to find out that it was based on false information. When I tried to ask about this issue on their bulletin boards all the information concerning this was removed mysteriously from the board.
Besides all of this, on the second day all day long all the students get is a bombardment of marketing propaganda for very expensive classes, software and services that the instructors seem to imply are needed to be successful in trading.
Overall it is a decent basic class to learn about options but to charge $2995 for such a simple class is a complete rip-off. One can learn this for a small amount of probably under $300 and not get all of the marketing drilled at them.
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