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I would like to know if Simpler Options is a scam


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I would like to know if Simpler Options is a scam

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  #1 (permalink)
mlmills
Albany, NY
 
 
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Does anyone know anything about Simpler Options

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  #3 (permalink)
 wldman 
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there is nobody better than Option Monster dot com

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  #4 (permalink)
 atata 
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I am paying member, however I do have a "grandfathered" deal. I think they charge 150 a month for a "gold" membership and I would not pay that much. I believe they do have like $7 for a month type of deal so u can try see if it works for u. It is owned by John Carter who is relative well known discretionary trader. I emphasize the "discretionary" because JC usually acts like he has a system which he does not.
I am not saying there is nothing to learn from JC, the biggest benefit I think is "watching" over his shoulder how he manages his trades, however he does not spend much time there. The room includes Carolyn B /fib queen/ and some of the members are in just for her. If u r in a learning phase I suggest to check out tastytrade. It is funny and a lot of good info for mostly options traders but stock traders can find it useful as well. Also it is free!!! Tastytrade by Tom Sossnof who is one of the two founders of Thinkorswim. He, they did sell TOS to TD a few years back so now he is fully involved with his new venture. Also they just launched a new website "dough" and that helps to visualize an option trade. /risk, vol, prob etc.../

Hope this helps.

Atata

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 srgtroy 
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atata View Post
It is owned by John Carter who is relative well known discretionary trader. I emphasize the "discretionary" because JC usually acts like he has a system which he does not.

Atata

This is as perfect a description of his "method" as could be written.

I am not a member, but I did check out his free videos for a while, and almost everything was a pitch to attend a paid webinar, or a "free webinar" which in itself contained incomplete information but where another pitch was made to attend the paid "complete" webinar.

He has created one helluva webinar factory.

Nevermind his trading system, this dude is making BIG BUCKS off of his site. Ironically, I think it makes it a lot easier to trade when you don't have to worry so much about losses, since you have a great secondary revfenue stream. That is the real lesson here IMHO.

But I do encourage you to see for yourself.

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  #6 (permalink)
 atata 
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I agree it is a lot easier to trade when u can put together a reasonable stake in no time in case u lost it all in a mayhem. The truth is JC does make a lot of $$$ just trading. He did have a ~1000 tsla call option trade on this year which netted him 1.5 mill in less than 24 hours. Or just this week on Thursday he bought 21 si contracts and next morning he was up more than 100k. I do not follow JC at all however the si trade this week did make sense to me and I did buy slv options. JC spends in the room maybe 4 hours a week and the rest is done by Henry G mostly who is/was pretty useless when it comes to trading. JC is spending a couple of more hours a week to "market" his 2 websites, so it is making perfect business sense to me for lets say 8-12 hours work a week to make an extra ~3 mill or so before expenses...

Hope it helps

Atata

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  #7 (permalink)
 atata 
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wldman View Post
there is nobody better than Option Monster dot com

Why?

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  #8 (permalink)
 wldman 
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I guess that statement is anecdotal. John and Pete are Chicago floor guys that have an impeccable track record of success in the business. They have been through every major market and business shift of the last 30 years and have never been far from the top in terms of productivity or reputation. When it comes to options trading I'd trust them with my last dollar.

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  #9 (permalink)
 kevinkdog   is a Vendor
 
 
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atata View Post
The truth is JC does make a lot of $$$ just trading.

Hope it helps

Atata


Who knows what the real truth is? Lots of people get into trouble buying into statements like this.

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 tflanner 
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tasty trade has a thing called 'Dough'....check it out....I am not a subscriber (don't trade options). also, have a thing called 'Bob' for I think $100 a month to see all of Tom Sosnoff's trades (both futures and options). I just trade futures...they have been perma bears of the ES, NQ etc since I started watching em last fall. If you followed their futures trades you would have been 'blown out of the business'....there style in futures is cannon balling....however, seems like they are very good in options.

anyway, here is an interview they did with a very successful options trader this past week...they are entertaining.

https://www.tastytrade.com/tt/

p.s...the interview is on the right hand side (Karen the supertrader)

The Market is Smarter than You Are
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  #11 (permalink)
 atata 
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wldman View Post
I guess that statement is anecdotal. John and Pete are Chicago floor guys that have an impeccable track record of success in the business. They have been through every major market and business shift of the last 30 years and have never been far from the top in terms of productivity or reputation. When it comes to options trading I'd trust them with my last dollar.

wldman, your comments are very generic... can you be more specific?! are they selling premium? do they have a system they trade? what can one learn from them especially if you already have all the basics and more...
ex what I mean: Tom S is very transparent regards to what he trades via "BOB the trader" while John Carter's simpler option site is not. Tom S is not a "day trader" however that does not mean he won't close a trade the same day.
Tom S would initiate futures trades to get engaged however he is primarily selling premium via naked options when an instrument is over extended either on the down side or upside but no specific RSI or candle stick signals etc...
Tom S believes /he has traded on the floor as well/ the only thing a trader can be sure of is vol after hitting extremes will return to means.
Please bare in mind Tom S's account is not a regular account size and also no one ever should try to follow anyone rather learn the best of it and apply on your own trading.

Thanks,

atata

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  #12 (permalink)
 wldman 
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will have to take the initiative and do that work yourself. Mercury Trading was their DPM...one of the first and one of the best. Options Monster would be a place you could familiarize yourself with their content, their methods and their ideas about the market. Past that anyone interested in equity options should almost memorize "Option Volatility and Pricing", by Shelly Natenberg and "Options as a Strategic Investment" by Larry McMillan.

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 RickW00716 
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mlmills View Post
Does anyone know anything about Simpler Options

I wouldn't say it's a scam but I will say the information is misleading.

I took the ultimate options course($497 + 500 for "live" mentoring). I wanted to only trade long options with the potential for decent gains(the course ad promotes this).

My experience so far has not been good. The indicator/setup that is mentioned in the course as being 75% accurate has me 0 for 6 so far(unless a miraculous turnaround happens).

My guess is that most of the money he makes comes from the courses/trading room. I've seen 1000+ in the room at one time(at $147/mo. thats nearly 2 mil/yr). Add in the courses and lesser subscriptions and its much more.

I wish I'd never wasted my money

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 Cabalab 
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Well, I have been a MUCH better trader since coming to Simpler Options. I have benefited from a few of his strategies, but I have benefited most from him changing my mentality towrds options. He has really shown me how to use my TOS platform better and really turned me into a premium seller more than a premium buyer. He has given me the "market maker" mindset and I appreciate his live examples of defending his trades. I am not sure that he has a "magic sauce" or anything but I have never seen anyone so well explain how to put options Greeks in your favor as hes has. I really benefit from the income videos proveided by Bruce. I am much more directionally agnostic now and have benefited from it. Of course the market has chopped around for 4 months but when/if it becomes directional I am ready for that. I really liked his Earnings trades video. Made back my costs in the first trade. Furthermore I can say that I have ~10 of his/Bruce's videos and I have made back the costs of these to me MANY TIMES OVER.

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 Cloudy 
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I had the same experience as RickW0076 on a trial of simpleroptions. just my opinion. I don't think there's
a real edge to the site's teachings. their newsletter or called trades don't have a good track record
when one tries to follow along (sim for me). Maybe Carter himself is a good trader, but what's shared
on the site seems too heavily marketed and affiliated. Ms. Carolyn Borodin (the fibqueen) takes
over the room for a few hours many days. And Carter himself was absent many weeks out of a month
, so mostly his handlers or an affiliate would run the room and site. one could learn the simple option
spreads from any number of books these days , or free at tastytrade.


I followed a link from an ad spam email to a video by Carter talking about HFT.

{Hi <>, John Carter here...
Thanks for signing up to watch my free video "HFT - Rise Of The Trading Machines"!
You already have access to the video, but here it is again, just in case:
}

High Frequency Trading - Video - Simpler Options Products
(this link is ok. just don't click on "register now" at the bottom).

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  #16 (permalink)
 NLD1888 
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Hi,

I've read JC books (both editions) and although I'm not a subscriber of Simpler Options, I have been receiving its free webinars. One thing I notice about Simpler Options is that it will always come out with many 'interesting' ideas by asking people to sign up for a free live webinar. Then, it will ask you to sign up.

I've decided to sign up one in August (Layup Trading Strategies & Setups) which costs $297 to give it a test/try.
This is for a live Sat Webinar which does not include the 2 indicators which JC is trying to sell you.

Below are my personal comments for your reference.
For those who don't agree, it is fine. It is what I feel, and hope to write about it to share with fellow members in this forum for reference.

1. First, JC spent more than half the time talking about trading which has no value to me as I'm already a trader (this might be useful for beginners) instead of going straight to the strategy.

2. The strategy mentioned talked about using the 2 indicators (which needs to be purchased separately or come with it if you sign up $997 which include another 3 days of live trading together with him) to assist in making entry decision. Although I knew JC is a discretionary trader, I am disappointed that the strategy described is not very clear. I have clarified during the live webinar which received response on 1 issue. However, a follow up after the webinar via email (3 repeated emails sent) to ask for further clarification does not receive any response at all.

4. To me, this is completely not acceptable. The live webinar talks about the strategy which I found to have vague entry criteria. A discretionary trader will still have a well defined rule & this is obviously lacking.

5. If you sign up to receive free recorded webinar from Simpler Options, you will notice they will always come up with new ideas/trading strategies to entice people to sign up the paid webinar. After doing so to test it out, my final conclusion is that it is not worth paying for any webinar from Simpler Options. They might be doing well in their trading but I'm sure the incomes from these paid webinars are easy money for them.

I hope this helps. I have personally benefited with helps from other members of this forum & I hope to contribute back.

* Do note that it is still fine to sign up for JC/SO free webinar which I found JC analysis of the big picture (overall market) to be of value.

Cheers,
NLD

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 grausch 
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I realise this is an older thread and please note that I am not endorsing Simpler Options in any way. In fact, based on the amount of emails I still receive after attending one of the $297 webinars I am left wondering why he is marketing this so aggressively.

However, YouTube thought I might be interested in this video and I do think it is worth listening to the interview with John Carter -
. I got quite a lot of value from this interview, and while it is not addressed directly, it does explain how he is able to to live with his very volatile equity curve.

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